Triplex with
For Sale
$339,000
2030 W Dean Ave, Spokane, WA 99201
Three two-bedroom units include one bathroom and laundry, plus a separate ADU for four total units.
Property Size3,027 SF
Price / SF$111.99
Days on Market116
Property Features for 2030 W Dean Ave
General Information
Standard status
Active
Size
3,027 SF
Property subtype
Residential Income
Additional Details
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$3,729
Amenities
laundry
Listing Agency:
eXp Realty, LLC Branch
(509) 596-9520
Listed By:
Kristina Carlson
(509) 596-9520
Source:
Exprealty
Added: May 8
Changed: Aug 30
Last Checked: Aug 30 at 10:06PM
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 eXp Realty, LLC Branch
Investment Insights
Based on property information with market context.
This 3,027-square-foot property combines a triplex with a separate accessory dwelling unit, creating four total residential units. Each triplex unit contains two bedrooms and one bathroom, with laundry included. The ADU has been cleared, leaving its interior open for future configuration or improvements.
Located in Spokane, the property sits blocks from Kendall Yards and directly across from a neighborhood cafe. Its four-unit layout supports a range of ownership and leasing strategies, including occupancy of one unit while retaining additional residential units within the property.
Located in Spokane, the property sits blocks from Kendall Yards and directly across from a neighborhood cafe. Its four-unit layout supports a range of ownership and leasing strategies, including occupancy of one unit while retaining additional residential units within the property.
Key Highlights
- Four total units, including a triplex and separate ADU
- Each triplex unit offers 2 bedrooms and 1 bathroom
- 3,027 square feet of property size
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
$30,106
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
8.88%
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%
$602,120
$602.1K
Cap Rate 7%
$430,086
$430.1K
Cap Rate 9%
$334,511
$334.5K
Market Conditions
NOI Build-Up for 3,027 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
$58.5K $19.32/SF
− Vacancy
−$3.7K −$1.24/SF
EGI
$54.7K $18.08/SF
− OpEx
−$24.6K −$8.14/SF
NOI
$30.1K $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%
$602,120
Cap Rate 7%
$430,086
Cap Rate 9%
$334,511
Alternative Uses
Best Use
Multifamily LT 5
$494.7K
$432.8K – $577.1K
NOI $34,627 @ 7.0% cap · market cap 10.21%
Second Best
Apartment 5plus
$430.1K
$376.3K – $501.8K
NOI $30,106 @ 7.0% cap · market cap 8.88%
Theoretical Best
Office A
$781.0K
$683.4K – $911.1K
NOI $54,668 @ 7.0% cap · market cap 16.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
738
Businesses Nearby
Explore this area
Business Placement
Demographics for 99201, WA
15,716
Population
8,842
Households
1.8
Avg Household Size
39
Median Age
34%
College-Educated
91%
High-School Grad
3.0 sq mi
ZIP Area
5,239
Density / Sq Mi
$35,286
Median Household Income
$36,599
Median Earnings
$883
Median Rent
$259,800
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?
Triplex - Three two-bedroom units include one bathroom and laundry, plus a separate ADU for four total units.
Where is this triplex located?
The property is located at 2030 W Dean Ave Spokane, WA.
What is the asking price?
The asking price for this property is $339,000.
What are key features of this property?
This property features: Four total units, including a triplex and separate ADU; Each triplex unit offers 2 bedrooms and 1 bathroom; 3,027 square feet of property size
