Refreshed Duplex with Two
For Sale
$354,900
816 E Gordon Ave, Spokane, WA 99207
Residential Income, Spokane, WA
Property Size3,174 SF
Lot Size0.18 Acres
Price / SF$111.81
Days on Market49
Property Features for 816 E Gordon Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bedroom 4, Bathroom 2, Bedroom 1, Bedroom 3, Bedroom 2
Parking features
Offsite
Window features
Vinyl Frames
Patio and Porch features
Deck
Interior features
Smart Thermostat, In-Law Floorplan
Fireplace
1
Basement
Walk-Out Access, Full, Unfinished
Appliances
Free-Standing Range, Refrigerator
Lot features
Fenced Yard, Level
Elementary school
Longfellow
Middle school
Shaw
High school
Rogers
Elementary school district
Spokane Dist 81
Directions
North on Hamilton st/ 290 E from I90. Left onto Gordon Ave.
Standard status
Active
APN
35054.1922
Size
3,174 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Annual Amount
4110
Utilities
Heating system
Forced Air, Natural Gas
Amenities
full unfinished basement
fenced backyard
Building Details
Year built
1925
Floors in Building
2
Number of units
2
Building materials
Wood Siding
Roof type
Composition
Architectural style
Other
Listing Agency:
REAL Broker LLC
(855) 450-0442
Listed By:
Kristi Kerkuta · License #95892
(509) 216-9714
Added: Jul 22
Changed: Sep 7
Last Checked: Sep 8 at 6:06PM
MLS# 202621417
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.
This Spokane duplex provides 3,174 square feet across a three-bedroom, one-bath main-floor residence and a 600-square-foot upstairs unit with one bedroom and one bath. Recent interior work includes new paint, new flooring, and additional updates. The property also includes a full unfinished basement, two oversized single-car garages, off-street parking, and a level fenced backyard with a deck.
Built in 1925, the home features wood siding, a composition roof, forced-air natural gas heating, a smart thermostat, and a fireplace. The address is 816 E Gordon Ave in Spokane, Washington 99207. Free-standing ranges and refrigerators are included, and the interior configuration includes an in-law floorplan.
Built in 1925, the home features wood siding, a composition roof, forced-air natural gas heating, a smart thermostat, and a fireplace. The address is 816 E Gordon Ave in Spokane, Washington 99207. Free-standing ranges and refrigerators are included, and the interior configuration includes an in-law floorplan.
Key Highlights
- 3,174‑square‑foot duplex with three‑bedroom and one‑bedroom units
- 600‑square‑foot upstairs unit with one bedroom and one bath
- Two oversized single‑car garages, one serving 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
$31,568
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
8.89%
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%
$631,360
$631.4K
Cap Rate 7%
$450,971
$451.0K
Cap Rate 9%
$350,756
$350.8K
Market Conditions
NOI Build-Up for 3,174 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
$61.3K $19.32/SF
− Vacancy
−$3.9K −$1.24/SF
EGI
$57.4K $18.08/SF
− OpEx
−$25.8K −$8.14/SF
NOI
$31.6K $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%
$631,360
Cap Rate 7%
$450,971
Cap Rate 9%
$350,756
Alternative Uses
Best Use
Multifamily LT 5
$518.7K
$453.9K – $605.2K
NOI $36,309 @ 7.0% cap · market cap 10.23%
Second Best
Apartment 5plus
$451.0K
$394.6K – $526.1K
NOI $31,568 @ 7.0% cap · market cap 8.89%
Theoretical Best
Office A
$818.9K
$716.5K – $955.4K
NOI $57,322 @ 7.0% cap · market cap 16.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
356
Businesses Nearby
Explore this area
Business Placement
Demographics for 99207, WA
32,059
Population
13,673
Households
2.3
Avg Household Size
34
Median Age
17%
College-Educated
91%
High-School Grad
5.2 sq mi
ZIP Area
6,165
Density / Sq Mi
$55,548
Median Household Income
$31,712
Median Earnings
$1,127
Median Rent
$246,800
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-unit layout includes separate one-bedroom and three-bedroom residences with fenced outdoor space.
Where is this duplex located?
The property is located at 816 E Gordon Ave Spokane, WA.
What is the asking price?
The asking price for this property is $354,900.
What are key features of this property?
This property features: 3,174‑square‑foot duplex with three‑bedroom and one‑bedroom units; 600‑square‑foot upstairs unit with one bedroom and one bath; Two oversized single‑car garages, one serving each unit
