For Sale
$365,000
1808 W Augusta Ave, Spokane, WA 99205
Residential Income, Spokane, WA
Property Size2,084 SF
Lot Size0.14 Acres
Price / SF$175.14
Days on Market11
Property Features for 1808 W Augusta Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 6, Bedroom 3, Bedroom 5, Bedroom 2, Basement, Bedroom 1, Bedroom 4, Bathroom 2, Bathroom 1
Parking features
Offsite, Alley
Patio and Porch features
Patio, Deck
Interior features
Hot Water
Basement
Partial, Walk-Out Access, Unfinished
Appliances
Free-Standing Range, Dishwasher, Refrigerator, Washer, Dryer
Lot features
Fencing, Sprinkler - Automatic, Level, City Bus (w/in 6 blks)
View
City
Elementary school
Holmes
Middle school
Yasuhara
High school
North Central
Elementary school district
Spokane Dist 81
Directions
North on N Monroe St, Left on Garland Ave, Right on N Ash St, Left on W Augusta.
Standard status
Active
APN
25124.1715
Size
2,084 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Annual Amount
3512
Utilities
Heating system
Forced Air, Hot Water(Heating), Natural Gas
Cooling system
Central Air
Building Details
Year built
1907
Number of units
1
Building materials
Vinyl Siding
Roof type
Composition
Architectural style
Craftsman
Listing Agency:
eXp Realty, LLC
(888) 317-5197
Listed By:
Cody Fenske · License #SP54854
(360) 339-5093
Added: Aug 13
Changed: Aug 21
Last Checked: Aug 23 at 12:06PM
MLS# 202622625
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.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$20,727
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.68%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$414,540
$414.5K
Cap Rate 7%
$296,100
$296.1K
Cap Rate 9%
$230,300
$230.3K
Market Conditions
NOI Build-Up for 2,084 SF
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.
Gross rent
$40.3K $19.32/SF
− Vacancy
−$2.6K −$1.24/SF
EGI
$37.7K $18.08/SF
− OpEx
−$17.0K −$8.14/SF
NOI
$20.7K $9.95/SF
Area
Spokane, WA
Vacancy
6.40%
Lease Rate
$19.32 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$414,540
Cap Rate 7%
$296,100
Cap Rate 9%
$230,300
Alternative Uses
Best Use
Apartment 5plus
$296.1K
$259.1K – $345.5K
NOI $20,727 @ 7.0% cap · market cap 5.68%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$537.7K
$470.5K – $627.3K
NOI $37,637 @ 7.0% cap · market cap 10.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
772
Businesses Nearby
Explore this area
Business Placement
Demographics for 99205, WA
44,036
Population
18,791
Households
2.3
Avg Household Size
37
Median Age
26%
College-Educated
93%
High-School Grad
9.0 sq mi
ZIP Area
4,893
Density / Sq Mi
$72,547
Median Household Income
$42,148
Median Earnings
$1,250
Median Rent
$286,300
Median Home Value
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
Where is this single family property located?
The property is located at 1808 W Augusta Ave Spokane, WA.
What is the asking price?
The asking price for this property is $365,000.
