Duplex with Shop and
New
For Sale
$749,900
19019 4th, Spokane, WA 99016
Two three-bedroom units include garages, finished lower levels, fenced backyards, and decks.
Property Size3,998 SF
Lot Size0.57 Acres
Price / SF$187.57
Days on Market6
Property Features for 19019 4th
General Information
Standard status
Active
Size
3,998 SF
Total Parking Spaces
4
Lot size
0.57 Acres
Property subtype
Multi Family Home
Site & Location
Highway Access
Yes
Road Access
Yes
Units
Unit Mix
2 x 3BR/3BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,378
Amenities
pool
Garage: Attached, Garage Door Opener
Garage Spaces: 2
Style: Ranch
Ranch
Attached, Garage Door Opener
2
Building Details
Year Built
2001
Buildings
2
Listing Agency:
REAL Broker LLC
Listed By:
Craig Hudkins
(509) 458-4000
Source:
Clearwaterproperties
Added: Sep 2
Changed: Sep 6
Last Checked: Sep 7 at 6:22AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of REAL Broker LLC
Investment Insights
Based on property information with market context.
Built in 2001, this duplex contains two three-bedroom, three-bathroom units with attached two-car garages, fireplaces, dining areas, kitchens with eat-up bars, upstairs laundry, decks, and fenced backyards with sprinklers. Finished lower levels add gathering rooms, egress-window bedrooms, bonus rooms, bathrooms, and storage; Unit A also includes an ensuite. The property offers 3,998 square feet on a .57-acre lot, along with a 30x50 shop equipped with 11.5-foot doors and an in-ground pool.
Located on a private drive near Central Valley schools, freeway access, shopping, Liberty Lake, and hiking and biking trails. The property also includes a ranch-style exterior and attached garages with door openers.
Located on a private drive near Central Valley schools, freeway access, shopping, Liberty Lake, and hiking and biking trails. The property also includes a ranch-style exterior and attached garages with door openers.
Key Highlights
- Two 3‑bedroom, 3‑bathroom units, each with an attached 2‑car garage
- 30x50 shop with 11.5‑ft doors
- .57‑acre lot with an in‑ground pool
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
$45,735
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
6.10%
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%
$914,700
$914.7K
Cap Rate 7%
$653,357
$653.4K
Cap Rate 9%
$508,167
$508.2K
Market Conditions
NOI Build-Up for 3,998 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
$69.6K $17.40/SF
− Vacancy
−$4.2K −$1.06/SF
EGI
$65.3K $16.34/SF
− OpEx
−$19.6K −$4.90/SF
NOI
$45.7K $11.44/SF
Area
Spokane, WA
Vacancy
6.08%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
30.00%
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%
$914,700
Cap Rate 7%
$653,357
Cap Rate 9%
$508,167
Alternative Uses
Best Use
Multifamily LT 5
$653.4K
$571.7K – $762.3K
NOI $45,735 @ 7.0% cap · market cap 6.10%
Second Best
Apartment 5plus
$568.1K
$497.1K – $662.7K
NOI $39,764 @ 7.0% cap · market cap 5.30%
Theoretical Best
Office A
$1.03M
$902.6K – $1.20M
NOI $72,204 @ 7.0% cap · market cap 9.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
431
Businesses Nearby
Explore this area
Business Placement
Demographics for 99016, WA
18,496
Population
8,004
Households
2.3
Avg Household Size
38
Median Age
38%
College-Educated
95%
High-School Grad
24.6 sq mi
ZIP Area
752
Density / Sq Mi
$94,253
Median Household Income
$56,661
Median Earnings
$1,715
Median Rent
$450,000
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two three-bedroom units include garages, finished lower levels, fenced backyards, and decks.
Where is this duplex located?
The property is located at 19019 4th Spokane, WA.
What is the asking price?
The asking price for this property is $749,900.
What are key features of this property?
This property features: Two 3‑bedroom, 3‑bathroom units, each with an attached 2‑car garage; 30x50 shop with 11.5‑ft doors; .57‑acre lot with an in‑ground pool
