Townhouse-Style
For Sale
$529,900
5119 E Buckeye Ave, Spokane, WA 99217
Modern two-unit property with open living areas, private patios, central air, laundry, and attached garages.
Property Size2,731 SF
Price / SF$194.03
Days on Market29
Property Features for 5119 E Buckeye Ave
General Information
Standard status
Active
Size
2,731 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/2.5BA
Multifamily Units
2
Parking per Unit
1
Amenities
patio
central air conditioning
main-floor laundry
automatic sprinklers
Building Details
Year Built
2016
Buildings
1
Construction
townhouse
Listing Agency:
Keller Williams Spokane - Main
(509) 458-4000
Listed By:
Richard Prasser
Source:
Clemensregroup
Added: Aug 2
Changed: Aug 29
Last Checked: Aug 25 at 4:21AM
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 Keller Williams Spokane - Main
Investment Insights
Based on property information with market context.
Built in 2016, this townhouse-style duplex contains two well-maintained residences, each with 3 bedrooms and 2.5 bathrooms. Both units include a primary suite with an en-suite bath, an open main-level living area, a kitchen with breakfast bar and storage, main-floor laundry, central air conditioning, and an attached one-car garage. Large windows bring natural light into the interiors, while private backyard patios extend the living areas outdoors.
The property sits along the Spokane River near the Centennial Trail and offers mountain and territorial views. A level yard with automatic sprinklers adds to the outdoor improvements. Shopping, dining, and Gonzaga University are located nearby, providing convenient access to everyday amenities and the university campus.
The property sits along the Spokane River near the Centennial Trail and offers mountain and territorial views. A level yard with automatic sprinklers adds to the outdoor improvements. Shopping, dining, and Gonzaga University are located nearby, providing convenient access to everyday amenities and the university campus.
Key Highlights
- Two‑unit duplex with 2,731 square feet, built in 2016
- Each unit offers 3 bedrooms and 2.5 bathrooms
- Townhouse‑style layouts with primary suites and en‑suite baths
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
$31,241
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
5.90%
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%
$624,820
$624.8K
Cap Rate 7%
$446,300
$446.3K
Cap Rate 9%
$347,122
$347.1K
Market Conditions
NOI Build-Up for 2,731 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
$47.5K $17.40/SF
− Vacancy
−$2.9K −$1.06/SF
EGI
$44.6K $16.34/SF
− OpEx
−$13.4K −$4.90/SF
NOI
$31.2K $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%
$624,820
Cap Rate 7%
$446,300
Cap Rate 9%
$347,122
Alternative Uses
Best Use
Multifamily LT 5
$446.3K
$390.5K – $520.7K
NOI $31,241 @ 7.0% cap · market cap 5.90%
Second Best
Apartment 5plus
$388.0K
$339.5K – $452.7K
NOI $27,162 @ 7.0% cap · market cap 5.13%
Theoretical Best
Office A
$704.6K
$616.5K – $822.0K
NOI $49,322 @ 7.0% cap · market cap 9.31%
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
138
Businesses Nearby
Explore this area
Business Placement
Demographics for 99217, WA
19,298
Population
8,166
Households
2.4
Avg Household Size
38
Median Age
25%
College-Educated
93%
High-School Grad
51.4 sq mi
ZIP Area
375
Density / Sq Mi
$71,807
Median Household Income
$43,267
Median Earnings
$1,267
Median Rent
$329,300
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 - Modern two-unit property with open living areas, private patios, central air, laundry, and attached garages.
Where is this duplex located?
The property is located at 5119 E Buckeye Ave Spokane, WA.
What is the asking price?
The asking price for this property is $529,900.
What are key features of this property?
This property features: Two‑unit duplex with 2,731 square feet, built in 2016; Each unit offers 3 bedrooms and 2.5 bathrooms; Townhouse‑style layouts with primary suites and en‑suite baths
