New Construction Duplex with
For Sale
$675,000
420 E Euclid Ave, Spokane, WA 99207
Residential Income, Spokane, WA
Property Size3,000 SF
Lot Size0.16 Acres
Price / SF$225
Days on Market54
Property Features for 420 E Euclid Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Property condition
Under Construction
Bedrooms
6
Bathrooms
6
Full bathrooms
6
Rooms
Bathroom 3, Bathroom 2, Bathroom 4, Bedroom 5, Bedroom 2, Bedroom 3, Bedroom 1, Bedroom 6, Bathroom 6, Bedroom 4, Bathroom 5, Bathroom 1
Parking
6
Parking features
Underground/Basement, Alley, Open
Window features
Vinyl Frames
Patio and Porch features
Patio
Basement
Crawl Space
Appliances
Free-Standing Range, Dishwasher, Refrigerator, Microwave, Hard Surface Counters
Lot features
Fenced Yard, Level
Elementary school
Logan
Middle school
Shaw
High school
Lewis & Clark
Elementary school district
Spokane Dist 81
Standard status
Active
APN
35082.0502
Size
3,000 SF
Lot size
0.16 Acres
Utilities
Heating system
Heat Pump (Heating), Ductless (Heating), Forced Air
Cooling system
Ductless
Amenities
garage
private fenced backyards
gated access
Building Details
Year built
2026
Floors in Building
2
Number of units
2
Building materials
Masonite, Shake Siding
Roof type
Composition
Architectural style
Other
Listing Agency:
Kelly Right Real Estate of Spokane
(509) 489-7000
Listed By:
Jared Urbick · License #24022549
(509) 262-4178
Added: Aug 1
Changed: Sep 16
Last Checked: Sep 23 at 2:06AM
MLS# 202621976
Copyright © 2026 Spokane Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This under-construction duplex is planned as two independently configured residences, each with three bedrooms and two-and-a-half bathrooms. The 1,388-square-foot layouts place an open living and kitchen area on the main floor, with quartz countertops, extensive cabinetry, and stainless steel appliances. Upper levels include a primary suite with walk-in closet and double-sink bath, two additional bedrooms, a full guest bath, and a laundry closet.
Each residence includes a dedicated garage, substantial driveway area, rear parking, and a fenced backyard with gated access. The property occupies 0.1608 acres at 420 E Euclid Ave in Spokane, with the University District, SCC, and downtown shopping and dining nearby. Planned systems include forced-air and heat-pump heating, ductless heating and cooling, and composition roofing.
Each residence includes a dedicated garage, substantial driveway area, rear parking, and a fenced backyard with gated access. The property occupies 0.1608 acres at 420 E Euclid Ave in Spokane, with the University District, SCC, and downtown shopping and dining nearby. Planned systems include forced-air and heat-pump heating, ductless heating and cooling, and composition roofing.
Key Highlights
- Two‑unit duplex under construction with a 2026 year built
- Each residence measures 1,388 sq ft with 3 bedrooms and 2.5 baths
- Dedicated garage, driveway area, and rear parking 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
$34,318
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
5.08%
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%
$686,360
$686.4K
Cap Rate 7%
$490,257
$490.3K
Cap Rate 9%
$381,311
$381.3K
Market Conditions
NOI Build-Up for 3,000 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
$52.2K $17.40/SF
− Vacancy
−$3.2K −$1.06/SF
EGI
$49.0K $16.34/SF
− OpEx
−$14.7K −$4.90/SF
NOI
$34.3K $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 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%
$686,360
Cap Rate 7%
$490,257
Cap Rate 9%
$381,311
Alternative Uses
Best Use
Multifamily LT 5
$490.3K
$429.0K – $572.0K
NOI $34,318 @ 7.0% cap · market cap 5.08%
Second Best
Apartment 5plus
$426.3K
$373.0K – $497.3K
NOI $29,838 @ 7.0% cap · market cap 4.42%
Theoretical Best
Office A
$774.0K
$677.3K – $903.0K
NOI $54,180 @ 7.0% cap · market cap 8.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
550
Businesses Nearby
Explore this area
Business Placement
Demographics for 99207, WA
32,059
Population
13,673
Households
2.3
Avg Household Size
34
Median Age
17%
College-Educated
91%
High-School Grad
5.2 sq mi
ZIP Area
6,165
Density / Sq Mi
$55,548
Median Household Income
$31,712
Median Earnings
$1,127
Median Rent
$246,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two contemporary residences offer private outdoor space, dedicated garages, and convenient access to Spokane’s University District and downtown amenities.
Where is this duplex located?
The property is located at 420 E Euclid Ave Spokane, WA.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: Two‑unit duplex under construction with a 2026 year built; Each residence measures 1,388 sq ft with 3 bedrooms and 2.5 baths; Dedicated garage, driveway area, and rear parking for each unit
