Townhouse-Style Duplex with
For Sale
$529,900
5119 E BUCKEYE Ave, Spokane, WA 99217
MULTI_FAMILY - Other - Spokane, WA
Property Size2,731 SF
Lot Size0.23 Acres
Price / SF$194.03
Days on Market115
Property Features for 5119 E BUCKEYE Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Laundry Room, Bathroom 3, Bedroom 5, Bathroom 2, Bedroom 2, Bathroom 1, Bedroom 6, Bedroom 3, Bathroom 4, Bedroom 4, Utility Room, Bedroom 1
Parking
2
Window features
Vinyl Frames
Patio and Porch features
Patio
Appliances
Free-Standing Range, Dishwasher, Refrigerator, Microwave
Lot features
Fenced Yard, Cross Fncd, Level, Oversized Lot
View
Territorial
Elementary school
Cooper
Middle school
Shaw
High school
Rogers
Elementary school district
Spokane Dist 81
Standard status
Active
APN
35111.0246
Size
2,731 SF
Lot size
0.23 Acres
Utilities
Utilities
Cable Available
Heating system
Ductless (Heating)
Cooling system
Wall Unit(s)
Amenities
central air conditioning
main-floor laundry
backyard patio
breakfast bar
modern kitchen
large windows
mountain and territorial views
automatic sprinklers
Building Details
Year built
2016
Floors in Building
2
Number of units
2
Building materials
Vinyl Siding
Roof type
Composition
Architectural style
Other
Listing Agency:
Keller Williams Spokane - Main · Keller Williams Realty
(509) 458-4000
Listed By:
Richard Prasser
(509) 435-3287
Added: May 12
Changed: Aug 3
Last Checked: Sep 3 at 3:06AM
MLS# 202617216
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 2016-built duplex features townhouse-style, two-unit layout with 3 bedrooms and 2.5 bathrooms per side. The bright main floor offers an open-concept living area that flows to a modern kitchen with a breakfast bar and ample storage. Each unit includes main-floor laundry, and the home has ductless heating with wall unit air conditioning. Vinyl siding and a composition roof help support easy exterior maintenance.
Outdoor space includes a backyard patio for each unit, set on a level yard with automatic sprinklers. Each unit also has an oversized attached one-car garage, giving convenient access for day-to-day living.
Located along the Spokane River near the Centennial Trail, the property offers an outdoor-forward setting with nearby shopping, dining, and Gonzaga University.
Outdoor space includes a backyard patio for each unit, set on a level yard with automatic sprinklers. Each unit also has an oversized attached one-car garage, giving convenient access for day-to-day living.
Located along the Spokane River near the Centennial Trail, the property offers an outdoor-forward setting with nearby shopping, dining, and Gonzaga University.
Key Highlights
- 2016‑built townhouse‑style duplex with two units
- Each unit has 3 bedrooms and 2.5 bathrooms
- Main‑floor laundry in each unit
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
Multi-tenant
Tenancy
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 - 2016-built duplex with two attached garages, in-unit laundry, and patios, offering townhouse-style living in a Spokane River setting.
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: 2016‑built townhouse‑style duplex with two units; Each unit has 3 bedrooms and 2.5 bathrooms; Main‑floor laundry in each unit
