Building Details

Year Built 2021

Buildings 1

Tenancy Multi

Listing Agency: Realty One Group Eclipse b***@rogeclipse.com Show Phone

Listed By: Amanda Helm · License #SP38896 Show Phone

Source: Exprealty

Added: Sep 25 Changed: Oct 4 Last Checked: Oct 5 at 9:11PM

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Investment Insights

Based on property information with market context.

Completed in 2021, this 3,006-square-foot duplex has two matching residences arranged side by side. Each home features three bedrooms, three bathrooms, a primary bedroom with a walk-in closet, and an open kitchen connected to the living area. Large windows, gas HVAC, and a mudroom and laundry area with garage access serve each unit. The sale includes all appliances.

Each residence also has a full-size two-car garage, fenced outdoor space, and a sprinkler system. Both units are currently rented. The property is located in Millwood and served by West Valley School District.

Key Highlights

• Two matching residences in a side‑by‑side duplex built in 2021
• 3,006 square feet across the property
• Each unit has 3 bedrooms, 3 bathrooms, and a full‑size 2‑car garage

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$33,364

Cap Rate

4.91%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$667,280 $667.3K

Cap Rate 7%

$476,629 $476.6K

Cap Rate 9%

$370,711 $370.7K

Market Conditions

NOI Build-Up for 3,006 SF

Gross rent

$51.6K $17.16/SF

− Vacancy

−$3.9K −$1.30/SF

EGI

$47.7K $15.86/SF

− OpEx

−$14.3K −$4.76/SF

NOI

$33.4K $11.10/SF

Area

Spokane County, WA

Vacancy

7.60%

Lease Rate

$17.16 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$667,280

Cap Rate 7%

$476,629

Cap Rate 9%

$370,711

Alternative Uses

Best Use

Multifamily LT 5

$476.6K

$417.1K – $556.1K (±1% cap)

NOI $33,364 @ 7.0% cap · market cap 4.91%

Second Best

Apartment 5plus

$438.1K

$383.3K – $511.1K (±1% cap)

NOI $30,664 @ 7.0% cap · market cap 4.51%

Theoretical Best

Office A

$694.6K

$607.8K – $810.4K (±1% cap)

NOI $48,622 @ 7.0% cap · market cap 7.15%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Duplexes

Suggested Use

Top Pick Kitchen & Bath Showroom Restaurant Auto Parts Store Grocery & Convenience Store Law Firm Storage Facility

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

100%

Occupancy

Multi-tenant

Tenancy

Yes

Sprinkler system

Location Intelligence

Trade Area within ½ mile

614

Businesses Nearby

Explore this area Business Placement

Demographics for 99206, WA

39,842

Population

17,339

Households

2.3

Avg Household Size

39

Median Age

28%

College-Educated

95%

High-School Grad

23.4 sq mi

ZIP Area

1,703

Density / Sq Mi

$75,538

Median Household Income

$42,018

Median Earnings

$1,174

Median Rent

$362,100

Median Home Value

Market

Vacancy Rate% for Multifamily in West region

7% 2022

7.8% 2023

8.6% 2024

8.6% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this duplexes located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Duplex - Both residences are leased and include three bedrooms, three bathrooms, and a full-size two-car garage.

Where is this duplex located?

The property is located at 2715 N Boeing Rd Millwood, WA.

What is the asking price?

The asking price for this property is $679,900.

What are key features of this property?

This property features: Two matching residences in a side‑by‑side duplex built in 2021; 3,006 square feet across the property; Each unit has 3 bedrooms, 3 bathrooms, and a full‑size 2‑car garage