Spokane Valley Duplex with
713/715 S Morrow Rd Spokane Valley, WA 99216
For Sale
$329,500
Pending
MULTI_FAMILY - Ranch - Spokane Valley, WA
Property Size1,092 SF
Lot Size0.34 Acres
Days on Market92
Property Features for 713/715 S Morrow Rd
General Information
Property type
Residential Multi Family
Property subtype
Single Family Residence
Bedrooms
4
Bathrooms
2
Rooms
Bathroom 1, Bedroom 4, Bedroom 1, Bathroom 2, Bedroom 3, Bedroom 2
Parking features
Offsite
Interior features
High Speed Internet
Basement
Crawl Space
Appliances
Free-Standing Range, Dishwasher, Refrigerator
Standard status
Pending
APN
45222.2666
Size
1,092 SF
Lot size
0.34 Acres
Taxes and HOA fees
Tax Annual Amount
2679
Utilities
Utilities
Cable Available
Heating system
Ductless (Heating), Baseboard, Electric (Heating)
Building Details
Year built
1942
Number of units
2
Building materials
Masonite
Roof type
Composition
Architectural style
Ranch
Listing Agency:
REAL Broker LLC
(855) 450-0442
Listed By:
Cindy Carrigan · License #21027304
(855) 450-0442
Added: Apr 30
Changed: May 15
Last Checked: Jul 30 at 4:06AM
MLS# 202616358
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.
Located in Spokane Valley, this income-producing duplex is situated on a 0.34-acre lot and offers expansion potential. The property is zoned to potentially allow for additional units or increased density. Each unit includes 2 bedrooms and 1 bathroom, with approximately 546 sq ft per side, totaling 1,092 sq ft. One unit has been updated and is currently vacant, allowing for immediate market rent adjustments. The other unit is tenant-occupied, providing consistent income. The large lot and flexible use create opportunities to increase value through rent growth, adding units, or future redevelopment. This property presents a strong option for investors focused on cash flow and long-term upside.
Key Highlights
- Duplex featuring two 2‑bedroom, 1‑bathroom units.
- Immediate income from tenant‑occupied unit.
- Vacant, updated unit allows setting market rent.
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $14.4k | $13.20 |
| − Vacancy | −$889 | −$0.81 |
| EGI | $13.5k | $12.39 |
| − OpEx | −$4.1k | −$3.72 |
| NOI | $9.5k | $8.67 |
1,092 SF · lease $13.20/SF/yr · vacancy 6.17% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$135.3K
$118.4K – $157.8K
NOI $9,468 @ 7.0% cap · market cap 2.87%
Second Best
Apartment 5plus
$125.1K
$109.5K – $146.0K
NOI $8,760 @ 7.0% cap · market cap 2.66%
Theoretical Best
Office A
$237.2K
$207.6K – $276.8K
NOI $16,605 @ 7.0% cap · market cap 5.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Duplex - Income-producing duplex with expansion potential on a 0.34-acre lot.
Where is this duplex located?
The property is located at 713/715 S Morrow Rd Spokane Valley, WA.
What is the asking price?
The asking price for this property is $329,500.
What are key features of this property?
This property features: Duplex featuring two 2‑bedroom, 1‑bathroom units.; Immediate income from tenant‑occupied unit.; Vacant, updated unit allows setting market rent.
