Duplex with Detached
531 W Buckeye Ave, Spokane, WA 99205
For Sale
$599,000
Two residences include finished lower levels, fireplaces, laundry, and an interior connecting door.
Property Size3,600 SF
Price / SF$166.39
Days on Market92
Property Features for 531 W Buckeye Ave
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Additional Details
Multifamily Units
Amenities
fireplace
hardwood floors
stack washer/dryer
custom kitchen
updated bathrooms
attached garage
detached garage
fenced lot
Building Details
Building Size
Year Built
Buildings
Stories
Units
Construction
Listing Agency:
Amplify Real Estate Services
(509) 541-7389
Listed By:
Joni Adkins
(509) 951-4855
Source:
Ericksrealty
Added: Aug 10
Changed: Nov 7
Last Checked: Nov 8 at 1:38PM
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 Amplify Real Estate Services
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Investment Insights
Based on property information with market context.
Built in 1962, this 3,600-square-foot brick duplex has two residences, each with a one-bedroom, one-bath main floor, hardwood flooring, and a fireplace. Finished basements add two bedrooms in one residence and one bedroom in the other, along with a fireplace and family or entertainment space in each. Recent improvements include a custom kitchen and four updated bathrooms; appliances are included. Each unit has a stack washer and dryer.
The property occupies a fenced corner lot with easy-care landscaping. Parking and storage include an attached two-car garage and a separate garage equipped with an RV electrical panel. Separate exterior access and an interior connecting door provide two ways to move between the residences.
The property occupies a fenced corner lot with easy-care landscaping. Parking and storage include an attached two-car garage and a separate garage equipped with an RV electrical panel. Separate exterior access and an interior connecting door provide two ways to move between the residences.
Key Highlights
- 3,600‑square‑foot brick duplex built in 1962
- Each unit has a one‑bedroom, one‑bath main floor with hardwood flooring and a fireplace
- Finished basements contain two bedrooms in one unit and one bedroom in the other
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$41,182
Cap Rate
6.88%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$823,640
$823.6K
Cap Rate 7%
$588,314
$588.3K
Cap Rate 9%
$457,578
$457.6K
Market Conditions
NOI Build-Up for 3,600 SF
Gross rent
$62.6K $17.40/SF
− Vacancy
−$3.8K −$1.06/SF
EGI
$58.8K $16.34/SF
− OpEx
−$17.6K −$4.90/SF
NOI
$41.2K $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 Rate 5%
$823,640
Cap Rate 7%
$588,314
Cap Rate 9%
$457,578
Alternative Uses
Best Use
Multifamily LT 5
$588.3K
$514.8K – $686.4K
NOI $41,182 @ 7.0% cap · market cap 6.88%
Second Best
Apartment 5plus
$511.5K
$447.6K – $596.8K
NOI $35,805 @ 7.0% cap · market cap 5.98%
Theoretical Best
Office A
$928.8K
$812.7K – $1.08M
NOI $65,016 @ 7.0% cap · market cap 10.85%
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
Location Intelligence
Trade Area within ½ mile
862
Businesses Nearby
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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
$286,300
Median Home Value
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Market
Average Price Trend$/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 residences include finished lower levels, fireplaces, laundry, and an interior connecting door.
Where is this duplex located?
The property is located at 531 W Buckeye Ave Spokane, WA.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: 3,600‑square‑foot brick duplex built in 1962; Each unit has a one‑bedroom, one‑bath main floor with hardwood flooring and a fireplace; Finished basements contain two bedrooms in one unit and one bedroom in the other
