Duplex with Separate
2224 N Park Rd Spokane, WA 99212
New
2224 N Park Rd, Spokane, WA, 99212
$325,000
For Sale
$325,000
Two separate homes on one parcel each provide a private entrance and dedicated living space.
Property Size1,856 SF
Price / SF$175.11
Days on Market4
Property Features for 2224 N Park Rd
General Information
- Standard status
- Active
- Size
- 1,856 SF
- Property subtype
- Multi Family Home
Building Details
- Year Built
- 1935
Listing agency
Avalon 24 Real Estate
(208) 664-1461
Listed by
Patrick Libey · License #SP41950
Source
Clearwaterproperties
Added: Jul 20 Updated: Jul 22 at 10:55PM Checked: Jul 22 at 10:55PM
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 Avalon 24 Real Estate
Investment Insights
Based on property information with market context.
This duplex features two separate homes on a single parcel, offering dedicated living space for each residence. Each home has its own private entrance, creating separation and flexibility for occupants.
The property is located near shopping, dining, parks, and commuter routes, providing convenient access to everyday amenities and regional travel.
Offered for sale, the asset presents an income-capable residential layout with two independently entered units within one ownership.
The property is located near shopping, dining, parks, and commuter routes, providing convenient access to everyday amenities and regional travel.
Offered for sale, the asset presents an income-capable residential layout with two independently entered units within one ownership.
Key Highlights
- Two separate homes on one parcel, each with its own private entrance and dedicated living space
- Detached 1‑car garage with RV access/parking and off‑site garage location
- Built in 1935
Local Financial Insights For Multifamily LT 5
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 | $32.3k | $17.40 |
| − Vacancy | −$2.0k | −$1.06 |
| EGI | $30.3k | $16.34 |
| − OpEx | −$9.1k | −$4.90 |
| NOI | $21.2k | $11.44 |
1,856 SF · lease $17.40/SF/yr · vacancy 6.08% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$303.3K
$265.4K – $353.9K
NOI $21,232 @ 7.0% cap · market cap 6.53%
Second Best
Apartment 5plus
$263.7K
$230.8K – $307.7K
NOI $18,460 @ 7.0% cap · market cap 5.68%
Theoretical Best
Office A
$478.8K
$419.0K – $558.7K
NOI $33,519 @ 7.0% cap · market cap 10.31%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Duplex - Two separate homes on one parcel each provide a private entrance and dedicated living space.
Where is this duplex located?
The property is located at 2224 N Park Rd Spokane, WA.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Two separate homes on one parcel, each with its own private entrance and dedicated living space; Detached 1‑car garage with RV access/parking and off‑site garage location; Built in 1935
