Updated Brick
For Sale
$499,000
5905 N Astor St, Spokane, WA 99208
Corner-lot property with two three-bedroom, two-bathroom units and direct hospital proximity.
Property Size3,944 SF
Price / SF$126.52
Days on Market46
Property Features for 5905 N Astor St
General Information
Standard status
Active
Size
3,944 SF
Property subtype
Residential Income
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Additional Details
Gross Income
$46,800
Road Access
Yes
Sprinkler System
Yes
Taxes and HOA fees
Annual Taxes
$4,844
Amenities
washer/dryer
window A/C
Building Details
Buildings
1
Construction
brick
Listing Agency:
Coldwell Banker Tomlinson
(509) 499-0218
Listed By:
Luke Mischke
(509) 499-0218
Source:
Exprealty
Added: Jul 7
Changed: Aug 18
Last Checked: Aug 20 at 9:57AM
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 Coldwell Banker Tomlinson
Investment Insights
Based on property information with market context.
This 3,944-square-foot brick duplex contains two matching three-bedroom, two-bathroom residences. The property has received extensive improvements, including refinished hardwood flooring, fresh paint, new carpet, remodeled and improved bathrooms, updated fixtures, new entry doors, window A/C units, washer and dryer sets, weatherization, and weather sealing. Unit B also includes a two-car garage and a sprinkler system.
The building occupies a corner lot, with the residences oriented toward different streets: Unit A at 5905 N Astor and Unit B at 325 E Central. Holy Family Hospital is directly across from the property. Both units are currently leased, providing an existing income-producing configuration.
The building occupies a corner lot, with the residences oriented toward different streets: Unit A at 5905 N Astor and Unit B at 325 E Central. Holy Family Hospital is directly across from the property. Both units are currently leased, providing an existing income-producing configuration.
Key Highlights
- 3,944‑square‑foot brick duplex with two 3‑bedroom, 2‑bathroom units
- Corner lot with Unit A at 5905 N Astor and Unit B at 325 E Central
- Directly across from Holy Family Hospital
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
$45,117
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
9.04%
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%
$902,340
$902.3K
Cap Rate 7%
$644,529
$644.5K
Cap Rate 9%
$501,300
$501.3K
Market Conditions
NOI Build-Up for 3,944 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
$68.6K $17.40/SF
− Vacancy
−$4.2K −$1.06/SF
EGI
$64.5K $16.34/SF
− OpEx
−$19.3K −$4.90/SF
NOI
$45.1K $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%
$902,340
Cap Rate 7%
$644,529
Cap Rate 9%
$501,300
Alternative Uses
Best Use
Multifamily LT 5
$644.5K
$564.0K – $752.0K
NOI $45,117 @ 7.0% cap · market cap 9.04%
Second Best
Apartment 5plus
$560.4K
$490.3K – $653.8K
NOI $39,227 @ 7.0% cap · market cap 7.86%
Theoretical Best
Office A
$1.02M
$890.4K – $1.19M
NOI $71,229 @ 7.0% cap · market cap 14.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Sprinkler system
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,512
Businesses Nearby
Explore this area
Business Placement
Demographics for 99208, WA
58,531
Population
24,273
Households
2.4
Avg Household Size
39
Median Age
34%
College-Educated
95%
High-School Grad
48.7 sq mi
ZIP Area
1,202
Density / Sq Mi
$81,084
Median Household Income
$45,733
Median Earnings
$1,226
Median Rent
$414,000
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 - Corner-lot property with two three-bedroom, two-bathroom units and direct hospital proximity.
Where is this duplex located?
The property is located at 5905 N Astor St Spokane, WA.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: 3,944‑square‑foot brick duplex with two 3‑bedroom, 2‑bathroom units; Corner lot with Unit A at 5905 N Astor and Unit B at 325 E Central; Directly across from Holy Family Hospital
