Updated Duplex with Covered
For Sale
$349,000
8908-8912 E Main Ave, Spokane, WA 99212
Residential Income, Spokane, WA
Property Size1,200 SF
Lot Size0.25 Acres
Price / SF$290.83
Days on Market90
Property Features for 8908-8912 E Main Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 4, Bedroom 1, Bathroom 2, Bathroom 1, Bedroom 2
Parking features
Carport
Basement
Crawl Space
Lot features
Fenced Yard, Cross Fncd, Level
Elementary school district
West Valley
Directions
Argonne to Main. Duplex on the South side between N Hutchinson Rd and N Marguerite Rd
Standard status
Active
APN
45184.1943
Size
1,200 SF
Lot size
0.25 Acres
Utilities
Heating system
Ductless (Heating), Electric (Heating), Baseboard
Amenities
large fenced yard
covered parking via carports
Building Details
Year built
1943
Number of units
2
Building materials
Siding
Roof type
Composition
Listing Agency:
eXp Realty, LLC
(888) 317-5197
Listed By:
Holly McDowell
(360) 339-5093
Added: Jun 26
Changed: Sep 13
Last Checked: Sep 23 at 4:06AM
MLS# 202619952
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 duplex contains 1,200 square feet on a 0.25-acre lot, with two bedrooms and one bathroom in each unit. The property was built in 1943 and features siding, composition roofing, electric heating, ductless heating, and baseboard heat. Exterior paint and one unit were updated in 2021, while the roof was replaced in July 2026.
The site includes a large fenced yard and covered parking through carports. One tenant has occupied a unit on a long-term basis, and the second unit is leased month-to-month. The property is located at 8908-8912 E Main Ave in Spokane, Washington 99212.
The site includes a large fenced yard and covered parking through carports. One tenant has occupied a unit on a long-term basis, and the second unit is leased month-to-month. The property is located at 8908-8912 E Main Ave in Spokane, Washington 99212.
Key Highlights
- Duplex with 1,200 square feet on a 0.25‑acre lot
- Two bedrooms and one bathroom in each unit
- Large fenced yard with covered carport parking
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
$13,727
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
3.93%
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%
$274,540
$274.5K
Cap Rate 7%
$196,100
$196.1K
Cap Rate 9%
$152,522
$152.5K
Market Conditions
NOI Build-Up for 1,200 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
$20.9K $17.40/SF
− Vacancy
−$1.3K −$1.06/SF
EGI
$19.6K $16.34/SF
− OpEx
−$5.9K −$4.90/SF
NOI
$13.7K $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%
$274,540
Cap Rate 7%
$196,100
Cap Rate 9%
$152,522
Alternative Uses
Best Use
Multifamily LT 5
$196.1K
$171.6K – $228.8K
NOI $13,727 @ 7.0% cap · market cap 3.93%
Second Best
Apartment 5plus
$170.5K
$149.2K – $198.9K
NOI $11,935 @ 7.0% cap · market cap 3.42%
Theoretical Best
Office A
$309.6K
$270.9K – $361.2K
NOI $21,672 @ 7.0% cap · market cap 6.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
913
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit property with a fenced yard, carports, and one unit updated in 2021.
Where is this duplex located?
The property is located at 8908-8912 E Main Ave Spokane, WA.
What is the asking price?
The asking price for this property is $349,000.
What are key features of this property?
This property features: Duplex with 1,200 square feet on a 0.25‑acre lot; Two bedrooms and one bathroom in each unit; Large fenced yard with covered carport parking
