Please click the following link to see Spokane SOLD duplexes, having sales closed in the past six months, sorted by gross rent multiple:
SOLD Data for Duplexes Sold in Spokane in Last 6 Months
This is SOLD data. Duplexes that are still available for sale can be found in the post immediately above this one.
By using gross rent multiple (price divided by monthly rent), it becomes easier to find the best deals if you a buyer, or to figure out how to price your building if you are a seller. The duplexes that should provide the best cash flow would be near the top of the list. I have also provided you with price per square foot information. I generated this list on March 31, 2009 and DOM (days on market) data is as of March 31, 2009. Listings with clearly erroneous or incomplete data were omitted.
Average gross rent multiple (i.e., sales price/monthly rent) for Spokane duplexes sold in the past six months was about 133. Average price per square foot for Spokane duplexes sold in the past six months was about $79. So duplexes for sale for less than 133 times one month’s actual current rent or less than $79 per square foot may be good deals, depending on age, condition, and location. To properly compare, please compare gross rent multiple of a duplex you are considering buying with the gross rent multiples of SOLD duplexes of similar age, location, and condition. Please also make sure that the landlords are paying similar utilities for each. For example, it is common for landlords to pay water, sewer, and garbage, and for tenants to pay electricity. If you are considering a building where the landlord pays for electricity, you should subtract the cost of electricity from gross rent before calculating gross rent multiple. An even better way to evaluate a property for sale is to calculate ”cap rate.” I can help you make these evaluations.
To see detailed listings for any of these SOLD properties, please see the detailed listings by clicking on the following link. The following entries are sorted by price. You will need the price or MLS number of the listing of interest to get details when you click below.
Listings for Spokane Duplexes SOLD in Last 6 Months
All data is from other sources. No warranties are mentioned or implied here.
I have 20 years of real estate investing experience and am an investor myself. My bio is at www.buygeg.com Please hire me the next time you would like to buy or sell property in the Spokane area if you want someone who owns and understands investment properties to represent you.
Cheney Realty Inc., 509-235-6191
