Medical Lake Duplex Investment
For Sale
$565,000
931-933 Stanley, Medical Lake, WA 99022
Fully rented duplex near Fairchild AFB with income potential.
Property Size2,614 SF
Price / SF$216.14
Days on Market135
Property Features for 931-933 Stanley
General Information
Standard status
Active
Size
2,614 SF
Property subtype
Multi Family Home
Taxes and HOA fees
Annual Taxes
$5,166
Amenities
Garage: Attached
Garage Spaces: 4
Style: Other
Other
Attached
4
Building Details
Year Built
2018
Listing Agency:
Windermere Valley
Listed By:
Brenda McKinley · License #129183
(509) 324-6285
Source:
Clearwaterproperties
Added: May 25
Changed: Oct 6
Last Checked: Oct 5 at 5:59PM
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
Investment Insights
Based on property information with market context.
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.
Key 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.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,013
Cap Rate
5.14%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$580,260
$580.3K
Cap Rate 7%
$414,471
$414.5K
Cap Rate 9%
$322,367
$322.4K
Market Conditions
NOI Build-Up for 2,614 SF
Gross rent
$44.9K $17.16/SF
− Vacancy
−$3.4K −$1.30/SF
EGI
$41.4K $15.86/SF
− OpEx
−$12.4K −$4.76/SF
NOI
$29.0K $11.10/SF
Area
Spokane County, WA
Vacancy
7.60%
Lease Rate
$17.16 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$580,260
Cap Rate 7%
$414,471
Cap Rate 9%
$322,367
Alternative Uses
Best Use
Multifamily LT 5
$414.5K
$362.7K – $483.6K
NOI $29,013 @ 7.0% cap · market cap 5.14%
Second Best
Apartment 5plus
$380.9K
$333.3K – $444.4K
NOI $26,665 @ 7.0% cap · market cap 4.72%
Theoretical Best
Office A
$604.0K
$528.5K – $704.7K
NOI $42,282 @ 7.0% cap · market cap 7.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
3
Businesses Nearby
Explore this area
Business Placement
Demographics for 99022, WA
8,867
Population
3,564
Households
2.5
Avg Household Size
43
Median Age
31%
College-Educated
96%
High-School Grad
68.3 sq mi
ZIP Area
130
Density / Sq Mi
$90,814
Median Household Income
$45,469
Median Earnings
$838
Median Rent
$345,600
Median Home Value
Check the figures for this property
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 - Fully rented duplex near Fairchild AFB with income potential.
Where is this duplex located?
The property is located at 931-933 Stanley 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.
