Brick Side-by-Side
For Sale
$399,900
4703 N Stevens St, Spokane, WA 99205
Residential Income, Spokane, WA
Property Size2,562 SF
Lot Size0.18 Acres
Price / SF$156.09
Days on Market49
Property Features for 4703 N Stevens St
General Information
Property type
Residential Multi Family
Property subtype
Single Family Residence
Bedrooms
5
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 5, Bedroom 1, Bathroom 1, Bathroom 2, Bedroom 3, Bedroom 4, Bedroom 2
Parking features
Offsite
Interior features
High Speed Internet
Basement
Partially Finished, Partial
Appliances
Free-Standing Range, Dishwasher, Refrigerator, Washer, Dryer
Lot features
Fenced Yard, Level, Corner Lot, City Bus (w/in 6 blks)
Elementary school
Madison Elementary
Middle school
Salk Middle School
High school
Shadle Park
Elementary school district
Spokane Dist 81
Directions
From Division, West on Wellesley, North on Stevens, Home on left.
Standard status
Active
APN
36314.1825
Size
2,562 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Annual Amount
3460
Utilities
Utilities
Cable Available
Heating system
Natural Gas, Forced Air
Cooling system
Central Air
Amenities
central A/C
fenced backyard
Building Details
Year built
1956
Floors in Building
1
Number of units
2
Building materials
Brick
Roof type
Composition
Architectural style
Ranch
Listing Agency:
First Look Real Estate
(509) 928-3413
Listed By:
Tom Price
(509) 928-3413
Added: Jul 13
Changed: Aug 19
Last Checked: Aug 30 at 5:06PM
MLS# 202620855
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 brick side-by-side duplex was built in 1956 and sits on a 0.1752-acre corner lot. The two residences provide a 3-bedroom, 1-bath configuration and a separate 2-bedroom, 1-bath layout. The larger unit includes a remodeled eat-in kitchen with updated appliances, a main-level living room, family room, laundry area, and finished lower-level space with an egress window and substantial storage. Central air conditioning, forced-air natural gas heat, a composition roof, washer, dryer, range, dishwasher, and refrigerator are included.
The property is located at 4703 N Stevens St in Spokane, Washington, within ZIP Code 99205. A new roof was completed in 2022, exterior improvements were completed in 2024, and painting and some flooring updates are identified for 2026. Fenced backyards and alley access are also part of the property configuration.
The property is located at 4703 N Stevens St in Spokane, Washington, within ZIP Code 99205. A new roof was completed in 2022, exterior improvements were completed in 2024, and painting and some flooring updates are identified for 2026. Fenced backyards and alley access are also part of the property configuration.
Key Highlights
- Side‑by‑side duplex with 2,562 square feet of property size
- 0.1752‑acre corner lot at 4703 N Stevens St, Spokane, WA 99205
- Unit layouts include 3 bedrooms, 1 bath and 2 bedrooms, 1 bath
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
$29,308
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
7.33%
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%
$586,160
$586.2K
Cap Rate 7%
$418,686
$418.7K
Cap Rate 9%
$325,644
$325.6K
Market Conditions
NOI Build-Up for 2,562 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
$44.6K $17.40/SF
− Vacancy
−$2.7K −$1.06/SF
EGI
$41.9K $16.34/SF
− OpEx
−$12.6K −$4.90/SF
NOI
$29.3K $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%
$586,160
Cap Rate 7%
$418,686
Cap Rate 9%
$325,644
Alternative Uses
Best Use
Multifamily LT 5
$418.7K
$366.4K – $488.5K
NOI $29,308 @ 7.0% cap · market cap 7.33%
Second Best
Apartment 5plus
$364.0K
$318.5K – $424.7K
NOI $25,481 @ 7.0% cap · market cap 6.37%
Theoretical Best
Office A
$661.0K
$578.4K – $771.2K
NOI $46,270 @ 7.0% cap · market cap 11.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,076
Businesses Nearby
Explore this area
Business Placement
Demographics for 99205, WA
44,036
Population
18,791
Households
2.3
Avg Household Size
37
Median Age
26%
College-Educated
93%
High-School Grad
9.0 sq mi
ZIP Area
4,893
Density / Sq Mi
$72,547
Median Household Income
$42,148
Median Earnings
$1,250
Median Rent
$286,300
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 - Two attached rental residences offer separate layouts, finished lower-level space, and private fenced outdoor areas.
Where is this duplex located?
The property is located at 4703 N Stevens St Spokane, WA.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: Side‑by‑side duplex with 2,562 square feet of property size; 0.1752‑acre corner lot at 4703 N Stevens St, Spokane, WA 99205; Unit layouts include 3 bedrooms, 1 bath and 2 bedrooms, 1 bath
