Residential Income
147 S Elm St Spokane, WA 99201
147 S Elm St, Spokane, WA, 99201
$324,999
For Sale
$324,999
MULTI_FAMILY - Bungalow - Spokane, WA
Property Size1,842 SF
Lot Size0.11 Acres
Price / SF$176.44
Days on Market10
Property Features for 147 S Elm St
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 2
- Bathrooms
- 1
- Rooms
- Bathroom 1, Bedroom 2, Bedroom 1
- Window features
- Wood Frames
- Fireplace
- 1
- Basement
- Crawl Space
- Appliances
- Free-Standing Range, Refrigerator, Washer, Dryer
- Standard status
- Active
- APN
- 25241.1708
- Lot size
- 0.11 Acres
Utilities
- Utilities
- Cable Available
- Heating system
- Natural Gas, Ductless (Heating), Electric (Heating), Hot Water(Heating), Baseboard
- Cooling system
- Window Unit(s)
Building Details
- Year built
- 1899
- Floors in Building
- 2
- Number of units
- 1
- Flooring type
- Wood
- Building materials
- Shake Siding
- Roof type
- Composition
- Architectural style
- Bungalow
Listing agency
Realty One Group Eclipse
(509) 327-2238
Listed by
Denay Hornberger
(509) 327-2238
Added: Jul 12 Updated: Jul 19 at 3:22AM Checked: Jul 21 at 9:06AM
MLS# 202620826
Copyright © 2026 Spokane Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This bungalow offers 1,842 square feet of living space with 2 bedrooms and 1 bathroom, featuring beautiful wood floors and a cozy fireplace along with classic historic details. While it is officially configured as a 2-bedroom home, it also includes additional flexible rooms that may accommodate beds depending on the intended setup.
Per the sellers, the property has been consistently rented for the past 16 years. The sellers also indicate the home may be suited for short-term rental use, subject to applicable regulations and licensing. It is located near the MAC Museum, Coeur d’Alene Park, walking trails, the Spokane River, downtown Spokane, a grocery store, and multiple local restaurants, with Spokane International Airport approximately 10 minutes away.
Per the sellers, the property has been consistently rented for the past 16 years. The sellers also indicate the home may be suited for short-term rental use, subject to applicable regulations and licensing. It is located near the MAC Museum, Coeur d’Alene Park, walking trails, the Spokane River, downtown Spokane, a grocery store, and multiple local restaurants, with Spokane International Airport approximately 10 minutes away.
Key Highlights
- Historic bungalow built in 1899 with 1,842 SF, featuring 2 bedrooms and 1 bathroom
- Beautiful wood flooring throughout and a cozy fireplace
- Heating includes natural gas with baseboard and ductless options; cooling provided by window unit(s)
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $35.6k | $19.32 |
| − Vacancy | −$2.3k | −$1.24 |
| EGI | $33.3k | $18.08 |
| − OpEx | −$15.0k | −$8.14 |
| NOI | $18.3k | $9.95 |
1,842 SF · lease $19.32/SF/yr · vacancy 6.40% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$261.7K
$229.0K – $305.3K
NOI $18,320 @ 7.0% cap · market cap 5.64%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$475.2K
$415.8K – $554.5K
NOI $33,267 @ 7.0% cap · market cap 10.24%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Single family properties
Similar For Sale Nearby
FAQs
What type of property is this?
Single family property - Bungalow with 2 bedrooms, 1 bathroom, wood floors, and a fireplace, plus additional flexible rooms.
Where is this single family property located?
The property is located at 147 S Elm St Spokane, WA.
What is the asking price?
The asking price for this property is $324,999.
What are key features of this property?
This property features: Historic bungalow built in 1899 with 1,842 SF, featuring 2 bedrooms and 1 bathroom; Beautiful wood flooring throughout and a cozy fireplace; Heating includes natural gas with baseboard and ductless options; cooling provided by window unit(s)
