$539,000

1203 S Walnut St

Spokane, WA 99204

Listed by Riley Long, RE/MAX Inland Empire

Units
2
Built
1953
Size
3,432 sq ft
On market
56 days
Layout
side by side*
Cap rate~6.1%
Cash-on-cash~-1.8%
Cash flow−$224
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 & interest2,975
Property tax 2026⁠Left blank
Insurance⁠No spot on MLS
Sewer⁠Left blank
Water⁠Left blank
Garbage⁠No spot on MLS
Left over after mortgage and expenses406

Set aside

Vacancy
Maintenance
Capital repairs
Management
Set aside for vacancy and maintenance630

What is left

Cash left over each month−$224

The units

UnitBedsBathsSq ftRent / mo
1421,716$2,100
2421,716$2,100

These 2 units add up to $4,200 a month. Those rents were posted in the MLS by the listing agent.

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About the building

Location, Location! Fantastic opportunity to own a well-maintained 3,400 sq. ft. duplex that’s perfect for investors or owner-occupants looking to offset their mortgage with rental income. This property has a strong history of excellent rentability and has seen numerous recent updates, including a brand-new roof, fresh exterior paint, new sod, and many additional repairs and improvements over the past several months. One unit features new carpet and beautifully refinished oak hardwood floors, creating a fresh, move-in-ready feel. A detached garage provides added storage or parking. Ideally situated on Spokane’s desirable Lower South Hill, you’ll enjoy easy access to parks, scenic trails, neighborhood coffee shops, grocery stores, and other everyday conveniences, making this an attractive place to live for both owners and tenants alike.

Where it is

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Listed by Riley Long, RE/MAX Inland Empire · MLS# 202622091 · 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.