Two-Bedroom
713/715 S Morrow Rd, Spokane Valley, WA 99216
For Sale
$329,500
Pending
Residential Income, Spokane Valley, WA
Property Size1,092 SF
Lot Size0.34 Acres
Days on Market194
Property Features for 713/715 S Morrow Rd
General Information
Property type
Property subtype
Bedrooms
Bathrooms
Full bathrooms
Rooms
Parking features
Interior features
Basement
Appliances
Lot features
Elementary school
Middle school
High school
Elementary school district
Standard status
APN
Lot size
Additional Details
Tenant in Place
Taxes and HOA fees
Tax Annual Amount
Utilities
Utilities
Heating system
Building Details
Year built
Number of units
Building materials
Roof type
Architectural style
Listing Agency:
REAL Broker LLC
Listed By:
Cindy Carrigan · License #21027304
(855) 450-0442
Added: Apr 30
Changed: Oct 30
Last Checked: Nov 9 at 6:06AM
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.
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This ranch-style duplex in Spokane Valley includes two separate units, each with 2 bedrooms and 1 bathroom. One unit has been updated and is vacant, while the second unit is occupied by a tenant. The property sits on a 0.34-acre lot and was built in 1942.
Interior features include high-speed internet, free-standing ranges, dishwashers, and refrigerators. Heating is provided by electric, ductless, and baseboard systems. The property also includes Masonite siding, a composition roof, cable availability, and offsite parking.
Interior features include high-speed internet, free-standing ranges, dishwashers, and refrigerators. Heating is provided by electric, ductless, and baseboard systems. The property also includes Masonite siding, a composition roof, cable availability, and offsite parking.
Key Highlights
- Two‑unit duplex with 2 bedrooms and 1 bathroom per unit
- 0.34‑acre lot in Spokane Valley
- One updated unit is vacant
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$9,468
Cap Rate
2.87%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$189,360
$189.4K
Cap Rate 7%
$135,257
$135.3K
Cap Rate 9%
$105,200
$105.2K
Market Conditions
NOI Build-Up for 1,092 SF
Gross rent
$14.4K $13.20/SF
− Vacancy
−$889 −$0.81/SF
EGI
$13.5K $12.39/SF
− OpEx
−$4.1K −$3.72/SF
NOI
$9.5K $8.67/SF
Area
Spokane Valley, WA
Vacancy
6.17%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$189,360
Cap Rate 7%
$135,257
Cap Rate 9%
$105,200
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.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
573
Businesses Nearby
Explore this area
Business Placement
Demographics for 99216, WA
28,379
Population
12,703
Households
2.2
Avg Household Size
37
Median Age
22%
College-Educated
95%
High-School Grad
14.2 sq mi
ZIP Area
1,999
Density / Sq Mi
$69,958
Median Household Income
$40,652
Median Earnings
$1,307
Median Rent
$336,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Average Price Trend$/SF for Duplexes in Spokane Valley, WA
Properties on Market for Duplexes in Spokane Valley
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Duplex - Ranch-style duplex with one updated vacant unit and one tenant-occupied unit.
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: Two‑unit duplex with 2 bedrooms and 1 bathroom per unit; 0.34‑acre lot in Spokane Valley; One updated unit is vacant
