Single-Level Duplex with
New
For Sale
$570,000
7015 N Hamilton St, Spokane, WA 99208
MultiFamily, Sgl Level, Spokane, WA
Property Size4,700 SF
Lot Size0.24 Acres
Price / SF$121.28
Days on Market1
Property Features for 7015 N Hamilton St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R2
Bedrooms
5
Full bathrooms
6
Rooms
Bedroom 3, Bedroom 2, Bathroom 2, Bathroom 4, Bathroom 3, Bathroom 6, Bathroom 5, Bedroom 1, Bedroom 5, Bedroom 4, Basement, Bathroom 1
Patio and Porch features
Patio
Interior features
Fireplace, High Speed Internet
Exterior features
Rain Gutters
Fireplace
1
Basement
Finished
Lot features
Level
Directions
GPS is accurate.
Subdivision
Washington Counties
Standard status
Active
APN
36291.0706
Size
4,700 SF
Lot size
0.24 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
See Exhibit A
Tax Annual Amount
5954
Legal Description
See Exhibit A
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Cooling system
Central Air
Water source
Public
Amenities
gas fireplace
central vacuum
central A/C
attached garage
patio
fenced yard
Building Details
Year built
1991
Number of units
2
Building materials
Wood Siding, Brick, Frame
Roof type
Composition
Architectural style
Other
Listing Agency:
RE/MAX Centennial
(208) 667-7653
Listed By:
Jacob Mack · License #SP58180
(509) 714-4026
Added: Aug 31
Last Checked: Aug 31 at 8:06PM
MLS# 26-8908
Copyright © 2026 Coeur d'Alene Multiple Listing Service. 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.
Built in 1991, this 4,700-square-foot duplex includes two occupied residences on a 0.24-acre lot. Each unit is reported at 1,175 square feet across the main floor and basement, with partially finished lower-level space. One residence offers two bedrooms and 2.5 bathrooms, while the other includes three bedrooms and 2.5 bathrooms.
Both units have their own attached garage, concrete rear patio, and partially fenced backyard. Property systems include separate furnaces, natural-gas heating, central air conditioning, a sprinkler system, central vacuum, and gas fireplaces in the living rooms. Public water and sewer serve the property, which carries R2 zoning in Spokane, Washington.
Both units have their own attached garage, concrete rear patio, and partially fenced backyard. Property systems include separate furnaces, natural-gas heating, central air conditioning, a sprinkler system, central vacuum, and gas fireplaces in the living rooms. Public water and sewer serve the property, which carries R2 zoning in Spokane, Washington.
Key Highlights
- Two‑unit duplex with 4,700 square feet on a 0.24‑acre lot
- Each unit is reported at 1,175 square feet across the main floor and basement
- Unit mix includes one 2‑bedroom, 2.5‑bath unit and one 3‑bedroom, 2.5‑bath 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
$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 - R2-zoned duplex with occupied units, separate furnaces, central air conditioning, and private attached garages.
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 4,700 square feet on a 0.24‑acre lot; Each unit is reported at 1,175 square feet across the main floor and basement; Unit mix includes one 2‑bedroom, 2.5‑bath unit and one 3‑bedroom, 2.5‑bath unit
