Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Medical Lake Duplex Investment Opportunity Title is generated by Realmo AI

    931-933 N Stanley St, Medical Lake, WA 99022

    View on Map
    Claim this Listing
    New
    For Sale
    $565,000

    Fully rented duplex near Fairchild AFB with income potential.

    Type:Multi Family Home
    Property size:
    2,614 SF
    Price / SF:
    $216/SF
    Added:
    May 25, 2026
    Days on Market:
    4
    Last Refresh:
    May 25 at 8:10 am

    Property Features for 931-933 N Stanley St

    General Information

    Standard status
    Active
    Size
    2,614 SF
    Property subtype
    Multi Family Home

    Building Details

    Year Built
    2018

    We can help!

    Listing Contact
    Brenda McKinley

    Listing agent Brenda McKinley

    Listing office Windermere Valley

    Listing date May 25, 2026

    Source Clearwaterproperties

    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 Windermere Valley

    HighLights

    • Fully rented duplex provides immediate income and turnkey investment opportunity.
    • Prime location near Fairchild Air Force Base, Amazon, Cheney, and Airway Heights ensures high tenant demand.
    • Each unit features a spacious 3‑bedroom, 2.5‑bath layout with attached 2‑car garage and individual driveway.
    • Private back decks with no direct neighbors offer enhanced tenant privacy.
    • Modern amenities include gas forced air heat, central A/C, and sprinkler systems for low‑maintenance appeal.
    • Built in 2018, indicating relatively new construction and modern features.

    Overview

    This fully rented duplex in Medical Lake presents an investor opportunity, offering income potential in a location near Fairchild Air Force Base, Amazon, Cheney, and Airway Heights. The property is also near outdoor recreation opportunities. Each side of the duplex features a 3-bedroom, 2.5-bath layout with attached 2-car garages and individual driveways, eliminating shared parking. The open-concept living spaces include sliding glass doors that lead to private back decks, providing added privacy for tenants with no direct neighbors behind. The primary suites include large walk-in closets. Comfort and low-maintenance appeal are provided by gas forced air heat, central A/C, and sprinkler systems. The property size is 2614 square feet. The property is located at 931-933 N Stanley St, Medical Lake, WA 99022.

    Financial Insights

    Value Estimation Calculated for Multifamily LT 5

    Conservative
    $322.4K
    NOI $29,013 @ 9.00% cap · cautious / downside scenario
    Moderate
    $414.5K
    NOI $29,013 @ 7.00% cap · market / base-case scenario
    Aggressive
    $580.3K
    NOI $29,013 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    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.
         Calculated for Multifamily LT 5

    Component $ $/SF
    Gross rent $44.9k $17.16
    − Vacancy −$3.4k −$1.30
    EGI $41.4k $15.86
    − OpEx −$12.4k −$4.76
    NOI $29.0k $11.10
    2,614 SF · lease $17.16/SF/yr · vacancy 7.60% · expense 30.00%

    Alternative Use Scenarios

    Best Use
    Multifamily LT 5
    $414.5K
    $362.7K – $483.6K (±1% cap)
    NOI $29,013 @ 7.0% cap · market cap 5.14%
    Second Best
    Apartment 5plus
    $380.9K
    $333.3K – $444.4K (±1% cap)
    NOI $26,665 @ 7.0% cap · market cap 4.72%
    Theoretical Best
    Office A
    $604.0K
    $528.5K – $704.7K (±1% cap)
    NOI $42,282 @ 7.0% cap · market cap 7.48%
    Zoning and permitted uses should be independently verified with local authorities.
    Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Law Firm Hair Salon Food Market Grocery & Convenience Store Furniture & Home Goods Grocery & Convenience Store Cafe & Coffee Shop Wine and Liquor Store Daycare Center Acupuncture

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Medical Lake
    County
    Spokane
    State
    Washington
    Longitude
    -117.705
    Latitude
    47.6094

    Nearby Similar for Sale

    • $285,000
      1,924 SF

      Versatile Commercial Building in Medical Lake

      Adaptable commercial building suitable for retail, office, or restaurant use.
      118 E LAKE St, Medical Lake, WA 99022
      View Details
    • $385,000
      2,240 SF

      Medical Lake Duplex Investment Opportunity

      Well-positioned duplex in Medical Lake with consistent rental demand.
      316 N Silver Lake Ave, Medical Lake, WA 99022
      View Details
    • $1,300,000
      21,677 SF

      Three Historic Downtown Properties Portfolio

      Three properties with adaptive zoning and redevelopment opportunities in Medical Lake.
      124 S Jefferson St, 1212 & 1216 W Railroad Ave, Medical Lake, WA
      View Details

    FAQs

    What type of property is this?
    Duplex - Fully rented duplex near Fairchild AFB with income potential.
    Where is this duplex located?
    The property is located at 931-933 N Stanley St Medical Lake, WA.
    What is the asking price?
    The asking price for this property is $565,000.
    What are key features of this property?
    This property features: Fully rented duplex provides immediate income and turnkey investment opportunity.; Prime location near Fairchild Air Force Base, Amazon, Cheney, and Airway Heights ensures high tenant demand.; Each unit features a spacious 3‑bedroom, 2.5‑bath layout with attached 2‑car garage and individual driveway.
    We can help!
    Listing Contact
    Brenda McKinley
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    931-933 N Stanley St, Medical Lake, WA 99022
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!