$639,000

11218-11220 N Waikiki Rd

Spokane, WA 99218

Listed by Ryan Towner, LT Real Estate

Units
2
Built
2006
Size
4,020 sq ft
On market
252 days
Cap rate~3.5%
Cash-on-cash~-11.2%
Cash flow−$1,636
Aaron Beal

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Purchase details

Purchase price
Closing costs 2.5%
Repairs and remodel

Loan details

Down payment
Interest rateour standard rate

Rents

Rents coming in⁠not on the MLS, confirmed with the listing agent

Expenses

Principal & interest3,527
Property tax 2026⁠Left blank
Insurance⁠No spot on MLS
Sewer⁠Left blank
Water⁠Left blank
Garbage⁠No spot on MLS
Left over after mortgage and expenses1,126

Set aside

Vacancy
Maintenance
Capital repairs
Management
Set aside for vacancy and maintenance510

What is left

Cash left over each month−$1,636

The units

UnitBedsBathsSq ftRent / mo
1422,000$1,700
2422,000$1,700

These 2 units add up to $3,400 a month. Those rents were posted in the MLS by the listing agent.

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About the building

Here is your opportunity to own your home while generating rental income with this well-maintained duplex near Whitworth University! Live comfortably in one spacious 4-bedroom, 2-bath unit and rent the second unit. Or make this a multi-generation living space! Each side features an attached garage, ample off-street parking, newer vinyl plank flooring, upgraded appliances, gas heat, and central air. Recent improvements include fresh exterior paint, a French drain system, and new backyard access decking leading to a large, private backyard shaded by mature trees. The functional floor plan offers a spacious living room, kitchen with generous informal dining, and a full walk-out basement, providing plenty of room to spread out. Located just minutes from Whitworth University, shopping, restaurants, and everyday conveniences, this is an excellent opportunity to build equity, reduce your monthly housing costs, or add a quality investment to your portfolio.

Where it is

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Listed by Ryan Towner, LT Real Estate · MLS# 202611094 · Active

Cap rate, cash flow and cash-on-cash are Beal Estate NW’s own analysis, not MLS data — they follow the financing assumptions shown on this page, and they are not a valuation of the property and not investment advice. Talk to your lender, your accountant and your own advisers before you rely on any of it. MLS GridListings courtesy of Spokane REALTORS® as distributed by MLS Grid. Based on information submitted to the MLS GRID as of 9/29/2026, 3:45:00 PM. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Listing information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing; any other use or search of the data on this site is prohibited. Deemed reliable but not guaranteed accurate by MLS Grid. Verify everything before you write an offer. Report a copyright problem.