Updated Two-Story
New
For Sale
$529,900
2417/2419 8th, Spokane, WA 99202
Each residence includes an attached garage, private deck, and access to a fully fenced backyard.
Property Size2,714 SF
Price / SF$195.25
Days on Market7
Property Features for 2417/2419 8th
General Information
Standard status
Active
Size
2,714 SF
Total Parking Spaces
2
Property subtype
Multi Family Home
Units
Unit Mix
2 x 3BR/2.5BA
Multifamily Units
2
Parking per Unit
1
Additional Details
Road Access
Yes
Amenities
granite countertops
laminate wood floors
tile floors
tile tub surrounds
natural wood cabinets
open great room design
decks
fully fenced back yards
gas forced air heat
central A/C
in-wall heaters
Garage: Attached, Garage Door Opener
Garage Spaces: 2
Style: Contemporary
Contemporary
Attached, Garage Door Opener
2
Building Details
Year Built
2014
Buildings
1
Stories
2
Listing Agency:
Regal Real Estate
(509) 995-5784
Listed By:
Natalia Seefeldt · License #DB38735
Source:
Clearwaterproperties
Added: Aug 8
Changed: Aug 14
Last Checked: Aug 14 at 8:07AM
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 Regal Real Estate
Investment Insights
Based on property information with market context.
Built in 2014, this two-level duplex contains two three-bedroom residences, each with 2.5 bathrooms and nearly 1,400 square feet. Interior improvements include granite countertops, natural wood cabinetry, laminate wood flooring, tiled floors and tub surrounds, and an open great-room arrangement. Both units have attached one-car garages, decks, and fully fenced backyard areas. Gas forced-air heating with central A/C was recently added, while in-wall heaters remain in place.
The property sits on a quiet cul-de-sac in South Hill, three blocks from Underhill Park walking trails and the Ben Burr Trail. Downtown Spokane and Spokane Valley are both described as minutes away, providing access to established recreational and regional destinations.
The property sits on a quiet cul-de-sac in South Hill, three blocks from Underhill Park walking trails and the Ben Burr Trail. Downtown Spokane and Spokane Valley are both described as minutes away, providing access to established recreational and regional destinations.
Key Highlights
- Two‑story duplex with 3Bd and 2.5Bth per side
- Nearly 1,400 sq.ft. in each residence
- Attached 1‑car garage for each unit
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
$31,047
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
5.86%
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%
$620,940
$620.9K
Cap Rate 7%
$443,529
$443.5K
Cap Rate 9%
$344,967
$345.0K
Market Conditions
NOI Build-Up for 2,714 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
$47.2K $17.40/SF
− Vacancy
−$2.9K −$1.06/SF
EGI
$44.4K $16.34/SF
− OpEx
−$13.3K −$4.90/SF
NOI
$31.0K $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%
$620,940
Cap Rate 7%
$443,529
Cap Rate 9%
$344,967
Alternative Uses
Best Use
Multifamily LT 5
$443.5K
$388.1K – $517.5K
NOI $31,047 @ 7.0% cap · market cap 5.86%
Second Best
Apartment 5plus
$385.6K
$337.4K – $449.9K
NOI $26,993 @ 7.0% cap · market cap 5.09%
Theoretical Best
Office A
$700.2K
$612.7K – $816.9K
NOI $49,015 @ 7.0% cap · market cap 9.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
184
Businesses Nearby
Explore this area
Business Placement
Demographics for 99202, WA
21,969
Population
8,296
Households
2.6
Avg Household Size
31
Median Age
33%
College-Educated
92%
High-School Grad
5.9 sq mi
ZIP Area
3,724
Density / Sq Mi
$61,323
Median Household Income
$31,892
Median Earnings
$1,070
Median Rent
$268,700
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 - Each residence includes an attached garage, private deck, and access to a fully fenced backyard.
Where is this duplex located?
The property is located at 2417/2419 8th Spokane, WA.
What is the asking price?
The asking price for this property is $529,900.
What are key features of this property?
This property features: Two‑story duplex with 3Bd and 2.5Bth per side; Nearly 1,400 sq.ft. in each residence; Attached 1‑car garage for each unit
