Updated Duplex with Covered
For Sale
$489,000
7412-741 East Euclid Avenue, Spokane, WA 99212
Two separately configured units include basements, fireplaces, and ample off-street parking.
Property Size2,688 SF
Price / SF$181.92
Days on Market132
Property Features for 7412-741 East Euclid Avenue
General Information
Standard status
Active
Size
2,688 SF
Property subtype
MultiFamily / Multi Family
Units
Unit Mix
1 x 3bd/1ba, 1 x 2bd/1ba
Multifamily Units
2
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$4,394
Amenities
fireplaces
Central Air, Yes
Forced Air, Furnace, Natural Gas, Yes
Full Size, Part Finished
Concrete
Fireplace, Central Air
MLS
0.0
Comp Shingle
Partial
Vinyl Siding
Open Deck
Paved
Concrete Perimeter
Vinyl Siding, Frame
Building Details
Year Built
1969
Listing Agency:
Coldwell Banker Schneidmiller Realty
(509) 979-4644
Listed By:
Scott Kramer · License #SP49699
(509) 979-4644
Source:
Compass
Added: Apr 21
Changed: Aug 29
Last Checked: Aug 29 at 6:32PM
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 Schneidmiller Realty
Investment Insights
Based on property information with market context.
This 2,688-square-foot duplex, built in 1969, offers a 3bd/1ba unit and a 2bd/1ba unit. The larger residence includes a basement bedroom and spacious living room, while the second unit has an unfinished basement. Both units feature fireplaces, vinyl siding and windows, central air, forced-air natural gas heating, and egress windows that support future basement expansion.
Recent improvements include new electrical panels and service for each unit, new heating and AC systems throughout, and interior updates on both sides. The 3bd/1ba unit has refreshed kitchen finishes, new appliances, and vinyl plank flooring. The 2bd/1ba unit includes restored plumbing, new carpet, and an updated kitchen floor. Covered carports and paved off-street parking serve the property, which sits on nearly 1/3 acre at 7412-741 East Euclid Avenue in Spokane. The Millwood-area location is west of Argonne with access to I-90.
Recent improvements include new electrical panels and service for each unit, new heating and AC systems throughout, and interior updates on both sides. The 3bd/1ba unit has refreshed kitchen finishes, new appliances, and vinyl plank flooring. The 2bd/1ba unit includes restored plumbing, new carpet, and an updated kitchen floor. Covered carports and paved off-street parking serve the property, which sits on nearly 1/3 acre at 7412-741 East Euclid Avenue in Spokane. The Millwood-area location is west of Argonne with access to I-90.
Key Highlights
- 2,688‑square‑foot duplex with 3bd/1ba and 2bd/1ba units
- Nearly 1/3‑acre lot with covered carports and paved off‑street parking
- New electrical panels and service installed for each 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
$30,749
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
6.29%
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%
$614,980
$615.0K
Cap Rate 7%
$439,271
$439.3K
Cap Rate 9%
$341,656
$341.7K
Market Conditions
NOI Build-Up for 2,688 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
$46.8K $17.40/SF
− Vacancy
−$2.8K −$1.06/SF
EGI
$43.9K $16.34/SF
− OpEx
−$13.2K −$4.90/SF
NOI
$30.7K $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%
$614,980
Cap Rate 7%
$439,271
Cap Rate 9%
$341,656
Alternative Uses
Best Use
Multifamily LT 5
$439.3K
$384.4K – $512.5K
NOI $30,749 @ 7.0% cap · market cap 6.29%
Second Best
Apartment 5plus
$381.9K
$334.2K – $445.6K
NOI $26,735 @ 7.0% cap · market cap 5.47%
Theoretical Best
Office A
$693.5K
$606.8K – $809.1K
NOI $48,545 @ 7.0% cap · market cap 9.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
87
Businesses Nearby
Explore this area
Business Placement
Demographics for 99212, WA
21,672
Population
9,496
Households
2.3
Avg Household Size
41
Median Age
27%
College-Educated
93%
High-School Grad
12.3 sq mi
ZIP Area
1,762
Density / Sq Mi
$66,250
Median Household Income
$39,829
Median Earnings
$1,184
Median Rent
$314,300
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 - Two separately configured units include basements, fireplaces, and ample off-street parking.
Where is this duplex located?
The property is located at 7412-741 East Euclid Avenue Spokane, WA.
What is the asking price?
The asking price for this property is $489,000.
What are key features of this property?
This property features: 2,688‑square‑foot duplex with 3bd/1ba and 2bd/1ba units; Nearly 1/3‑acre lot with covered carports and paved off‑street parking; New electrical panels and service installed for each unit
