2016-Built
509 S Greene St, Spokane, WA 99202
For Sale
New
$399,000
Residential Income, Spokane, WA
Property Size1,986 SF
Lot Size0.18 Acres
Price / SF$200.91
Days on Market6
Property Features for 509 S Greene St
General Information
Property type
Property subtype
Bedrooms
Bathrooms
Full bathrooms
Rooms
Window features
Patio and Porch features
Basement
Appliances
Subdivision
Lot features
High school
Elementary school district
Directions
Standard status
APN
Size
Lot size
Utilities
Heating system
Cooling system
Amenities
laundry room
window A/C
private patio
fenced landscaped yard
off-street parking
Building Details
Year built
Floors in Building
Number of units
Building materials
Roof type
Architectural style
Listing Agency:
Windermere Manito, LLC
Listed By:
Marcy Mongan · License #21025309
(509) 747-1051
Added: Nov 2
Changed: Nov 3
Last Checked: Nov 7 at 4:06PM
MLS# 202626529
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.
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Investment Insights
Based on property information with market context.
Built in 2016, this duplex contains 1,986 square feet across two units on a 7,900-square-foot lot. Each unit has three bedrooms, one full bathroom, a living room, kitchen, laundry room, and private patio. Interior features include laminate flooring, carpet, vinyl windows, electric heat, and window air conditioning. The property also has a fenced, landscaped yard and off-street parking.
Both units have been rented for years and are described as being in good condition. The property is near Underhill Park, grocery shopping, Fresh Soul, a bus route, coffee shops, and trails.
Both units have been rented for years and are described as being in good condition. The property is near Underhill Park, grocery shopping, Fresh Soul, a bus route, coffee shops, and trails.
Key Highlights
- Two units, each with 3 bedrooms and 1 full bathroom
- 1,986 square feet on a 7,900‑square‑foot lot
- Built in 2016
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,719
Cap Rate
5.69%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$454,380
$454.4K
Cap Rate 7%
$324,557
$324.6K
Cap Rate 9%
$252,433
$252.4K
Market Conditions
NOI Build-Up for 1,986 SF
Gross rent
$34.6K $17.40/SF
− Vacancy
−$2.1K −$1.06/SF
EGI
$32.5K $16.34/SF
− OpEx
−$9.7K −$4.90/SF
NOI
$22.7K $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%
$454,380
Cap Rate 7%
$324,557
Cap Rate 9%
$252,433
Alternative Uses
Best Use
Multifamily LT 5
$324.6K
$284.0K – $378.7K
NOI $22,719 @ 7.0% cap · market cap 5.69%
Second Best
Apartment 5plus
$282.2K
$246.9K – $329.2K
NOI $19,753 @ 7.0% cap · market cap 4.95%
Theoretical Best
Office A
$512.4K
$448.3K – $597.8K
NOI $35,867 @ 7.0% cap · market cap 8.99%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
603
Businesses Nearby
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Business Placement
Demographics for 99202, WA
21,969
Population
8,296
Households
2.6
Avg Household Size
31
Median Age
33%
College-Educated
92%
High-School Grad
5.9 sq mi
ZIP Area
3,724
Density / Sq Mi
$61,323
Median Household Income
$31,892
Median Earnings
$1,070
Median Rent
$268,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Duplexes in Spokane, WA
Properties on Market for Duplexes in Spokane
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Duplex - Two three-bedroom units include private patios, laundry rooms, and off-street parking.
Where is this duplex located?
The property is located at 509 S Greene St Spokane, WA.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Two units, each with 3 bedrooms and 1 full bathroom; 1,986 square feet on a 7,900‑square‑foot lot; Built in 2016
