Side-by-Side Duplex with
For Sale
$249,000
2927 HOFFMAN, Spokane, WA 99208
Ranch-style income property with one vacant unit and convenient bus-route access.
Property Size1,160 SF
Price / SF$214.66
Days on Market18
Property Features for 2927 HOFFMAN
General Information
Standard status
Active
Size
1,160 SF
Total Parking Spaces
2
Property subtype
Multi Family Home
Units
Unit Mix
2 x 1BR/1BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Amenities
Garage: Detached, Off Site, Alley Access
Garage Spaces: 2
Style: Ranch
Ranch
Detached, Off Site, Alley Access
2
Building Details
Year Built
1956
Listing Agency:
Amplify Real Estate Services
Listed By:
Donna Wilburn · License #129836
(509) 993-9903
Source:
Clearwaterproperties
Added: Sep 20
Changed: Oct 6
Last Checked: Oct 5 at 7:23PM
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 Amplify Real Estate Services
Investment Insights
Based on property information with market context.
This ranch-style duplex, built in 1956, contains 1,160 square feet across two side-by-side residences. Each unit provides one bedroom and one bathroom in a practical layout, while a detached two-car garage adds storage and parking utility. One residence is vacant, allowing an owner-occupant arrangement or a new tenant placement.
The property is located at 2927 Hoffman in Spokane, Washington, with access to public transportation along a bus route. Alley access serves the detached garage. The two-unit configuration supports flexible use for an owner seeking housing with rental income or an investor adding a compact residential asset to a portfolio.
The property is located at 2927 Hoffman in Spokane, Washington, with access to public transportation along a bus route. Alley access serves the detached garage. The two-unit configuration supports flexible use for an owner seeking housing with rental income or an investor adding a compact residential asset to a portfolio.
Key Highlights
- Two side‑by‑side units, each with 1 bedroom and 1 bathroom
- 1,160 square feet across the duplex
- One unit is currently vacant
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,270
Cap Rate
5.33%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$265,400
$265.4K
Cap Rate 7%
$189,571
$189.6K
Cap Rate 9%
$147,444
$147.4K
Market Conditions
NOI Build-Up for 1,160 SF
Gross rent
$20.2K $17.40/SF
− Vacancy
−$1.2K −$1.06/SF
EGI
$19.0K $16.34/SF
− OpEx
−$5.7K −$4.90/SF
NOI
$13.3K $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%
$265,400
Cap Rate 7%
$189,571
Cap Rate 9%
$147,444
Alternative Uses
Best Use
Multifamily LT 5
$189.6K
$165.9K – $221.2K
NOI $13,270 @ 7.0% cap · market cap 5.33%
Second Best
Apartment 5plus
$164.8K
$144.2K – $192.3K
NOI $11,537 @ 7.0% cap · market cap 4.63%
Theoretical Best
Office A
$299.3K
$261.9K – $349.2K
NOI $20,950 @ 7.0% cap · market cap 8.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
476
Businesses Nearby
Explore this area
Business Placement
Demographics for 99208, WA
58,531
Population
24,273
Households
2.4
Avg Household Size
39
Median Age
34%
College-Educated
95%
High-School Grad
48.7 sq mi
ZIP Area
1,202
Density / Sq Mi
$81,084
Median Household Income
$45,733
Median Earnings
$1,226
Median Rent
$414,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Duplex - Ranch-style income property with one vacant unit and convenient bus-route access.
Where is this duplex located?
The property is located at 2927 HOFFMAN Spokane, WA.
What is the asking price?
The asking price for this property is $249,000.
What are key features of this property?
This property features: Two side‑by‑side units, each with 1 bedroom and 1 bathroom; 1,160 square feet across the duplex; One unit is currently vacant
