April 2008 SOLD Data for Spokane Duplexes- Presented by Deepak Malhotra
Posted by buygeg on April 1, 2008
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 previous post, immediately above this one.
By using gross rent multiple (price divided by monthly rent), it becomes easier to find the best deals. Note that many people use price divided by annual rent to calculate a gross rent multiple–I use monthly rent here. 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 April 1, 2008 and DOM (days on market) data is as of April 1, 2008. Be aware that some agents remove and relist properties so actual days on market may be longer than indicated. 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 149. Average price per square foot for Spokane duplexes sold in the past six months was about $78. To properly compare, please compare gross rent multiple of one duplex with gross rent multiples of other duplexes of similar age, location, and condition, and please make sure that the landlords are paying similar utilities for each. CAP rate (capitalization rate) calculations (roughly defined as rate of return from rent if you paid all cash) are more meaningful but there is rarely enough information present in a listing to calculate a capitalization rate or net rental yield.
To see details of any of these entries, 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 you are considering 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. If you find this analysis to be useful, please consider hiring me the next time you would like to buy or sell property in the Spokane area.
Deepak Malhotra, Associate Broker, ePro, Cheney Realty Inc., 509-235-6191
