Two-Unit Duplex with
For Sale
$335,000
3103 W 13th Ct, Spokane, WA 99224
Each residence is configured with one bedroom and one bathroom.
Property Size1,152 SF
Price / SF$290.80
Days on Market43
Property Features for 3103 W 13th Ct
General Information
Standard status
Active
Size
1,152 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 1BR/1BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Building Details
Year Built
1942
Buildings
1
Listing Agency:
Realty One Group Eclipse
(509) 624-6873
Listed By:
Farrah Kaufman · License #94146
Source:
Clemensregroup
Added: Jul 20
Changed: Aug 30
Last Checked: Aug 31 at 6:37PM
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 Realty One Group Eclipse
Investment Insights
Based on property information with market context.
Built in 1942, this duplex contains two one-bedroom, one-bath residences with approximately 550 square feet per unit and 1,152 square feet across the property. Off-street parking is provided for tenants, and the compact layouts offer straightforward residential functionality.
The property at 3103 W 13th Ct is positioned near the I-90 corridor, Spokane International Airport, and Fairchild AFB. Nearby recreation includes Finch Arboretum, the Fish Lake Trail, Riverside State Park, The Palisades Park, and Indian Canyon Golf Course. Downtown Spokane is approximately a five-minute drive away, providing access to dining and entertainment.
The property at 3103 W 13th Ct is positioned near the I-90 corridor, Spokane International Airport, and Fairchild AFB. Nearby recreation includes Finch Arboretum, the Fish Lake Trail, Riverside State Park, The Palisades Park, and Indian Canyon Golf Course. Downtown Spokane is approximately a five-minute drive away, providing access to dining and entertainment.
Key Highlights
- Two‑unit duplex with 1,152 SF total
- Each unit has 1 bed and 1 bath
- Approximately 550 sq ft per 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
$13,178
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
3.93%
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%
$263,560
$263.6K
Cap Rate 7%
$188,257
$188.3K
Cap Rate 9%
$146,422
$146.4K
Market Conditions
NOI Build-Up for 1,152 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
$20.0K $17.40/SF
− Vacancy
−$1.2K −$1.06/SF
EGI
$18.8K $16.34/SF
− OpEx
−$5.6K −$4.90/SF
NOI
$13.2K $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 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%
$263,560
Cap Rate 7%
$188,257
Cap Rate 9%
$146,422
Alternative Uses
Best Use
Multifamily LT 5
$188.3K
$164.7K – $219.6K
NOI $13,178 @ 7.0% cap · market cap 3.93%
Second Best
Apartment 5plus
$163.7K
$143.2K – $191.0K
NOI $11,458 @ 7.0% cap · market cap 3.42%
Theoretical Best
Office A
$297.2K
$260.1K – $346.8K
NOI $20,805 @ 7.0% cap · market cap 6.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
80
Businesses Nearby
Explore this area
Business Placement
Demographics for 99224, WA
24,085
Population
10,559
Households
2.3
Avg Household Size
39
Median Age
41%
College-Educated
96%
High-School Grad
118.8 sq mi
ZIP Area
203
Density / Sq Mi
$76,785
Median Household Income
$50,678
Median Earnings
$1,290
Median Rent
$439,700
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 is configured with one bedroom and one bathroom.
Where is this duplex located?
The property is located at 3103 W 13th Ct Spokane, WA.
What is the asking price?
The asking price for this property is $335,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,152 SF total; Each unit has 1 bed and 1 bath; Approximately 550 sq ft per unit
