Duplex with Detached
For Sale
$415,000
511 W 14TH Ave, Spokane, WA 99204
Two residences share a backyard and have access to off-street parking.
Property Size3,130 SF
Price / SF$132.59
Days on Market104
Property Features for 511 W 14TH Ave
General Information
Standard status
Active
Size
3,130 SF
Total Parking Spaces
1481
Property subtype
Residential Income
Site & Location
Neighborhood
Cliff-Cannon
Additional Details
Multifamily Units
2
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$3,770
Amenities
shared private backyard
storage
Kitchen Island
Natural Woodwork
Building Details
Year Built
1908
Units
2
Tenancy
Multi
Listing Agency:
RE/MAX Citibrokers
(509) 444-0365
Listed By:
Danny Pontius · License #117555
(509) 671-3286
Source:
Ericksrealty
Added: Jul 17
Changed: Oct 26
Last Checked: Oct 26 at 3:47AM
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 RE/MAX Citibrokers
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Investment Insights
Based on property information with market context.
Built in 1908, this Spokane duplex contains 3,130 square feet across two units. The ground-floor residence has access to a partially finished basement, while both units share a private backyard. A detached garage provides additional on-site parking, and a new roof is being installed.
The property is half a mile from Manito Park and near several other parks. Its two-unit configuration, basement area, backyard, and garage are key physical features.
The property is half a mile from Manito Park and near several other parks. Its two-unit configuration, basement area, backyard, and garage are key physical features.
Key Highlights
- Two‑unit duplex with 3,130 square feet
- Built in 1908; a new roof is being installed
- Ground‑floor unit has access to a partially finished basement
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,805
Cap Rate
8.63%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$716,100
$716.1K
Cap Rate 7%
$511,500
$511.5K
Cap Rate 9%
$397,833
$397.8K
Market Conditions
NOI Build-Up for 3,130 SF
Gross rent
$54.5K $17.40/SF
− Vacancy
−$3.3K −$1.06/SF
EGI
$51.2K $16.34/SF
− OpEx
−$15.3K −$4.90/SF
NOI
$35.8K $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%
$716,100
Cap Rate 7%
$511,500
Cap Rate 9%
$397,833
Alternative Uses
Best Use
Multifamily LT 5
$511.5K
$447.6K – $596.8K
NOI $35,805 @ 7.0% cap · market cap 8.63%
Second Best
Apartment 5plus
$444.7K
$389.1K – $518.9K
NOI $31,131 @ 7.0% cap · market cap 7.50%
Theoretical Best
Office A
$807.5K
$706.6K – $942.1K
NOI $56,528 @ 7.0% cap · market cap 13.62%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,870
Businesses Nearby
Explore this area
Business Placement
Demographics for 99204, WA
7,000
Population
4,357
Households
1.6
Avg Household Size
34
Median Age
37%
College-Educated
93%
High-School Grad
1.0 sq mi
ZIP Area
7,000
Density / Sq Mi
$50,266
Median Household Income
$39,036
Median Earnings
$1,103
Median Rent
$355,700
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Duplex - Two residences share a backyard and have access to off-street parking.
Where is this duplex located?
The property is located at 511 W 14TH Ave Spokane, WA.
What is the asking price?
The asking price for this property is $415,000.
What are key features of this property?
This property features: Two‑unit duplex with 3,130 square feet; Built in 1908; a new roof is being installed; Ground‑floor unit has access to a partially finished basement
