Duplex with Attached
New
For Sale
$570,000
7015 N Hamilton St, Spokane, WA 99208
Two occupied residences offer private patios, separate furnaces, central A/C, and partially finished basement areas.
Property Size4,700 SF
Price / SF$121.28
Days on Market2
Property Features for 7015 N Hamilton St
General Information
Standard status
Active
Size
4,700 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
1 x 2BR/2.5BA, 1 x 3BR/2.5BA
Multifamily Units
2
Additional Details
Average Monthly Rent
$1,575
Sprinkler System
Yes
Amenities
gas living room fireplaces
central vac
separate furnaces
central A/C
concrete back patio
partially fenced backyard
Building Details
Year Built
1992
Buildings
1
Construction
rancher
Tenancy
Multi
Listing Agency:
RE/MAX Centennial
(509) 714-4026
Listed By:
Jacob Mack · License #SP58180
Source:
Clemensregroup
Added: Aug 30
Changed: Aug 31
Last Checked: Aug 31 at 9:09AM
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 Centennial
Investment Insights
Based on property information with market context.
Built in 1992, this North Spokane duplex includes two occupied residences with long-term tenants. Each unit is described as having 1,175 square feet across the main floor and basement, with a partially finished basement that includes space for additional bedrooms. One residence offers two bedrooms and 2.5 bathrooms, while the other provides three bedrooms and 2.5 bathrooms.
Both units include a concrete rear patio, a partially fenced backyard, and an attached garage. Property systems and features include separate furnaces, central A/C, gas fireplaces in the living rooms, central vacuum, and an irrigation sprinkler system. The property is located at 7015 N Hamilton St in Spokane, Washington.
Both units include a concrete rear patio, a partially fenced backyard, and an attached garage. Property systems and features include separate furnaces, central A/C, gas fireplaces in the living rooms, central vacuum, and an irrigation sprinkler system. The property is located at 7015 N Hamilton St in Spokane, Washington.
Key Highlights
- Two‑unit duplex with each residence having its own attached garage
- Each unit is described as 1,175 Sq Ft across the main floor and basement
- Unit 7015 has 2 bedrooms and 2.5 bathrooms; Unit 7017 has 3 bedrooms and 2.5 bathrooms
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
$46,746
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
8.20%
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%
$934,920
$934.9K
Cap Rate 7%
$667,800
$667.8K
Cap Rate 9%
$519,400
$519.4K
Market Conditions
NOI Build-Up for 4,700 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
$90.8K $19.32/SF
− Vacancy
−$5.8K −$1.24/SF
EGI
$85.0K $18.08/SF
− OpEx
−$38.2K −$8.14/SF
NOI
$46.7K $9.95/SF
Area
Spokane, WA
Vacancy
6.40%
Lease Rate
$19.32 /SF/Yr
Expense Ratio
45.00%
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%
$934,920
Cap Rate 7%
$667,800
Cap Rate 9%
$519,400
Alternative Uses
Best Use
Multifamily LT 5
$768.1K
$672.1K – $896.1K
NOI $53,765 @ 7.0% cap · market cap 9.43%
Second Best
Apartment 5plus
$667.8K
$584.3K – $779.1K
NOI $46,746 @ 7.0% cap · market cap 8.20%
Theoretical Best
Office A
$1.21M
$1.06M – $1.41M
NOI $84,882 @ 7.0% cap · market cap 14.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
566
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two occupied residences offer private patios, separate furnaces, central A/C, and partially finished basement areas.
Where is this duplex located?
The property is located at 7015 N Hamilton St Spokane, WA.
What is the asking price?
The asking price for this property is $570,000.
What are key features of this property?
This property features: Two‑unit duplex with each residence having its own attached garage; Each unit is described as 1,175 Sq Ft across the main floor and basement; Unit 7015 has 2 bedrooms and 2.5 bathrooms; Unit 7017 has 3 bedrooms and 2.5 bathrooms
