Single-Story Two-Unit
New
For Sale
$320,000
2422 W Sinto Ave, Spokane, WA 99201
Two residences share one parcel with RV parking, newer roofing, vinyl windows, appliances, electrical heating, and gas stoves.
Property Size1,260 SF
Price / SF$253.97
Days on Market7
Property Features for 2422 W Sinto Ave
General Information
Standard status
Active
Size
1,260 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Building Details
Year Built
1950
Buildings
2
Listing Agency:
Source Real Estate
(509) 842-6708
Listed By:
Vitaliy Tanchin · License #128206
Source:
Clemensregroup
Added: Aug 24
Changed: Aug 28
Last Checked: Aug 29 at 12:33PM
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 Source Real Estate
Investment Insights
Based on property information with market context.
This 1,260-square-foot duplex contains two single-story residences, each with 2 bedrooms and 1 bathroom. The homes are situated on one lot and include RV parking. Property improvements include newer roofing, vinyl windows, appliances, electrical heating, and a gas stove in each residence. Built in 1950, the property also offers the potential for lot subdivision as described in the property information.
The address is approximately 5 minutes from Downtown Spokane and 2 minutes from the Spokane River. Churches, schools, parks, shopping, and entertainment are located within minutes of the property.
The address is approximately 5 minutes from Downtown Spokane and 2 minutes from the Spokane River. Churches, schools, parks, shopping, and entertainment are located within minutes of the property.
Key Highlights
- 1,260‑square‑foot duplex with two residences on one lot
- Each residence has 2 bedrooms and 1 bathroom
- Both homes are single‑story and measure over 600 square feet
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
$14,414
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
4.50%
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%
$288,280
$288.3K
Cap Rate 7%
$205,914
$205.9K
Cap Rate 9%
$160,156
$160.2K
Market Conditions
NOI Build-Up for 1,260 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
$21.9K $17.40/SF
− Vacancy
−$1.3K −$1.06/SF
EGI
$20.6K $16.34/SF
− OpEx
−$6.2K −$4.90/SF
NOI
$14.4K $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%
$288,280
Cap Rate 7%
$205,914
Cap Rate 9%
$160,156
Alternative Uses
Best Use
Multifamily LT 5
$205.9K
$180.2K – $240.2K
NOI $14,414 @ 7.0% cap · market cap 4.50%
Second Best
Apartment 5plus
$179.0K
$156.7K – $208.9K
NOI $12,532 @ 7.0% cap · market cap 3.92%
Theoretical Best
Office A
$325.1K
$284.5K – $379.3K
NOI $22,756 @ 7.0% cap · market cap 7.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
384
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?
Duplex - Two residences share one parcel with RV parking, newer roofing, vinyl windows, appliances, electrical heating, and gas stoves.
Where is this duplex located?
The property is located at 2422 W Sinto Ave Spokane, WA.
What is the asking price?
The asking price for this property is $320,000.
What are key features of this property?
This property features: 1,260‑square‑foot duplex with two residences on one lot; Each residence has 2 bedrooms and 1 bathroom; Both homes are single‑story and measure over 600 square feet
