Duplex with Separate
For Sale
$275,000
2224 Park, Spokane, WA 99212
Two separate homes on one parcel each provide a private entrance and dedicated living space.
Property Size1,856 SF
Price / SF$148.17
Days on Market91
Property Features for 2224 Park
General Information
Standard status
Active
Size
1,856 SF
Property subtype
Multi Family Home
Taxes and HOA fees
Annual Taxes
$4,099
Amenities
Garage: Detached, RV Access/Parking, Off Site
Garage Spaces: 1
Detached, RV Access/Parking, Off Site
1
Building Details
Year Built
1935
Listing Agency:
Avalon 24 Real Estate
Listed By:
Patrick Libey · License #SP41950
(208) 664-1461
Source:
Clearwaterproperties
Added: Jul 20
Changed: Oct 16
Last Checked: Oct 16 at 6:42AM
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
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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
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,232
Cap Rate
7.72%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$424,640
$424.6K
Cap Rate 7%
$303,314
$303.3K
Cap Rate 9%
$235,911
$235.9K
Market Conditions
NOI Build-Up for 1,856 SF
Gross rent
$32.3K $17.40/SF
− Vacancy
−$2.0K −$1.06/SF
EGI
$30.3K $16.34/SF
− OpEx
−$9.1K −$4.90/SF
NOI
$21.2K $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 Rate 5%
$424,640
Cap Rate 7%
$303,314
Cap Rate 9%
$235,911
Alternative Uses
Best Use
Multifamily LT 5
$303.3K
$265.4K – $353.9K
NOI $21,232 @ 7.0% cap · market cap 7.72%
Second Best
Apartment 5plus
$263.7K
$230.8K – $307.7K
NOI $18,460 @ 7.0% cap · market cap 6.71%
Theoretical Best
Office A
$478.8K
$419.0K – $558.7K
NOI $33,519 @ 7.0% cap · market cap 12.19%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
205
Businesses Nearby
Explore this area
Business Placement
Demographics for 99212, WA
21,672
Population
9,496
Households
2.3
Avg Household Size
41
Median Age
27%
College-Educated
93%
High-School Grad
12.3 sq mi
ZIP Area
1,762
Density / Sq Mi
$66,250
Median Household Income
$39,829
Median Earnings
$1,184
Median Rent
$314,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
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 Park Spokane, WA.
What is the asking price?
The asking price for this property is $275,000.
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
