Brand-New Duplex with Private
For Sale
$675,000
420 Euclid, Spokane, WA 99207
New-construction duplex with two-car garages, gated rear yard access, and 3BR/2.5BA layouts in each unit.
Property Size3,000 SF
Price / SF$225
Days on Market138
Property Features for 420 Euclid
General Information
Standard status
Active
Size
3,000 SF
Property subtype
Multi Family Home
Additional Details
Fenced Yard
Yes
Multifamily Units
2
Amenities
private fenced backyard with gated access
garage
laundry closet
Garage: Attached, Underground, Garage Door Opener, Alley Access
Garage Spaces: 2
Style: Traditional
Traditional
Attached, Underground, Garage Door Opener, Alley Access
2
Building Details
Year Built
2026
Stories
2
Tenancy
Multi
Listing Agency:
Kelly Right Real Estate of Spokane
Listed By:
Jared Urbick
Source:
Clearwaterproperties
Added: Apr 24
Changed: Sep 8
Last Checked: Sep 8 at 5:55AM
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 Kelly Right Real Estate of Spokane
Investment Insights
Based on property information with market context.
Brand-new duplex offering two separate residences, each designed with 3 bedrooms and 2.5 bathrooms. Each unit includes its own garage and a large driveway area, along with rear additional parking and private fenced backyards with gated access. Interiors feature a great room open to the kitchen, with quartz surfaces, plenty of cabinetry, and stainless steel appliances. Upstairs, each unit has a large primary suite with a walk-in closet and a double-sink bath, plus two additional guest bedrooms, a full guest bathroom, and a dedicated laundry closet.
The property is described as being just minutes from the University District, SCC, and downtown shopping and dining, supporting convenient access to major local destinations.
With identical unit layouts and modern finishes throughout, the duplex presents a straightforward configuration for residential income use where each side functions independently.
The property is described as being just minutes from the University District, SCC, and downtown shopping and dining, supporting convenient access to major local destinations.
With identical unit layouts and modern finishes throughout, the duplex presents a straightforward configuration for residential income use where each side functions independently.
Key Highlights
- Brand‑new duplex (Year Built 2026) with 3BR/2.5BA layouts in each unit
- 1,388 SF per unit (2,766 SF total) with spacious two‑story floorplans
- Each unit includes a private 2‑car garage plus large driveway and rear additional parking
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
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Fenced yard
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
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 - New-construction duplex with two-car garages, gated rear yard access, and 3BR/2.5BA layouts in each unit.
Where is this duplex located?
The property is located at 420 Euclid 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: Brand‑new duplex (Year Built 2026) with 3BR/2.5BA layouts in each unit; 1,388 SF per unit (2,766 SF total) with spacious two‑story floorplans; Each unit includes a private 2‑car garage plus large driveway and rear additional parking
