$465,000
Est. $2,520/moPrice reduced $4,000 from the original $469,000 asking price
407 1st Avenue, Ritzville, WA 99169
• Listed Dec 16, 2025•313 days active · 313 cumulative
Listing Broker: Windermere RE K-2 Realty; Jay P. Kincaid; 509-989-3309; jaykincaid@windermere.com
Talk to a local RexMont expert
A local broker replies within minutes
Listing Broker: Windermere RE K-2 Realty; Jay P. Kincaid; 509-989-3309; jaykincaid@windermere.com
About this home
Excellent investment opportunity in the growing community of Ritzville! Originally constructed in 1950, this income-producing property has undergone extensive updates and now features 8 studio apartments, 1 one-bedroom unit with a full kitchen, 2 two-bedroom units with full kitchens, and a remodeled office space. Recent improvements include fresh exterior paint, the addition of a coin-operated laundry facility, and a brand-new roof installed in 2025. Each studio unit is equipped with a private bathroom, hot plate, microwave, and compact refrigerator, providing comfortable and efficient living accommodations. Two additional studio units are ready for renovation, offering significant upside potential and the opportunity to increase the property to a total of 11 income-producing units. Whether you're looking to expand your portfolio or enter the multifamily market, this property offers both immediate cash flow and value-add potential.
Listed by Jay P. Kincaid • Windermere RE K-2 Realty
Listing updated: September 17, 2026 at 11:39am
RexMont checked: moments ago
Source: NWMLS as Distributed by MLS Grid #2461226
Open houses
No upcoming open houses scheduled for this property.
Around this home
How much should you offer?
407 1st Avenue, Ritzville, WA 99169
Source:RexMont analysis of Northwest MLS sales data for this ZIP code plus third-party market data (RentCast). The estimates are RexMont's, not Northwest MLS listing data.
Estimates only and not guaranteed. Consult a RexMont agent for accurate, personalized guidance before making an offer. RexMont OfferEdge™ · © 2026 RexMont Real Estate. Proprietary tool.
Property details
Layout
- Hotel/Motel
Flooring
- Laminate
- Vinyl
- Carpet
Heating & cooling
- Baseboard heating
- Wall Furnace heating
- Wall Unit(s) cooling
- Window Unit(s) cooling
Schools
Ratings via SchoolDigger- Ritzville Grade SchoolPublic · Grades PK-5 · 0.5 mi · State rank 412 of 1,1386/10
- Ritzville High SchoolPublic · Grades 9-12 · 0.6 mi · State rank 161 of 3966/10
Schools shown are the nearest public Elementary, Middle, and High school for this property and may not be the assigned schools. Verify attendance boundaries with the district before purchasing.
Commercial facts
As entered by the listing broker on Northwest MLS
Building
- Building square feet
- 4,004 sq ft
- Year built
- 1950
Parking & site
- Acres
- 0.23 acres
- Lot square feet
- 10,000 sq ft
- Zoning jurisdiction
- City
Income & lease
- Gross scheduled income
- $96,000
- Net operating income
- $57,508
- Total expenses
- $22,294
Taxes & terms
- Annual taxes
- $3,465
- Tax year
- 2025
- Financing
- Cash, Conventional
Neighborhood mobility
Doorstep, Pedal & Station Scores
Three RexMont scores for this exact address: what is on foot, what is by bike, and what rides past the door.
Ground Truth™
The ground, the slope, the flood zone and the noise at this address
Read from public hazard, flood, terrain and noise maps for this exact home.
Address Insider™
The members' report
Commute, transit, zoning and ADU potential, internet providers and the lifestyle around the home: the nearest grocery, coffee, park, services and transit stop. One free registration opens every home on rexmont.com.
Opens with the report above.
Down payment assistance
6 programs may be available to provide you with up to $23,250 in down payment assistance, depending on your specific information.
Source: program list compiled by RexMont from ARCH (A Regional Coalition for Housing) member-jurisdiction information. This is not Northwest MLS listing data.
Mortgage payment forecast
$2,925 per month
Great rateTakes about 5 minutes & won't affect your credit
Get pre-approvedSource: RexMont estimate, not Northwest MLS listing data. Interest rates from Freddie Mac's Primary Mortgage Market Survey via FRED (Federal Reserve Bank of St. Louis). Property tax and HOA dues from the NWMLS listing where provided, otherwise estimated; insurance estimated at 0.3% of price per year.
Estimate only. Actual payment depends on credit, lender, and program. PMI not included for down payments below 20%.
Ask about this home
A licensed RexMont broker will get back to you, usually in under 5 minutes during business hours.
Listing Broker: Windermere RE K-2 Realty; Jay P. Kincaid; 509-989-3309; jaykincaid@windermere.com
Market pulse
Ritzville is a buyer's market.
Inventory is rising and homes are sitting longer. Buyers have room to negotiate.
Offer insight: Homes typically sell with one offer near asking price.
List to sale price: The average home sells for about 1% below list price.
Time on market: The average home goes pending in around 143 days.
Recent sales nearby
Within 1 mile · last 6 months$264,000 Sold
4 weeks ago
5 bd•2.75 ba•~2,684 sq ft•Single Family
1111 Par Drive, Ritzville, WA 99169
4%
Under list
73
Days on market
0.6 mi
Distance
$389,000 Sold
5 weeks ago
5 bd•2.5 ba•~3,013 sq ft•Single Family
405 W 7th Avenue, Ritzville, WA 99169
3%
Over list
42
Days on market
0.3 mi
Distance
$300,000 Sold
5 weeks ago
4 bd•2 ba•~2,176 sq ft•Single Family
306 E 5th Avenue, Ritzville, WA 99169
5%
Under list
37
Days on market
0.4 mi
Distance
$365,000 Sold
6 weeks ago
5 bd•2.75 ba•~3,582 sq ft•Single Family
508 W 7th Avenue, Ritzville, WA 99169
0%
Over list
203
Days on market
0.3 mi
Distance
$250,000 Sold
7 weeks ago
3 bd•2.25 ba•~2,544 sq ft•Single Family
210 E 3rd Avenue, Ritzville, WA 99169
7%
Under list
21
Days on market
0.3 mi
Distance
Closed sales from MLS GRID / NWMLS within the past 6 months, matched on property type and within 1 mile. Comps approximate.
Want a deeper read on this market?
Ask a RexMont agentMarket data from MLS GRID / NWMLS · Updated Nov 2026
Information and statistics derived from Northwest Multiple Listing Service. Source: Northwest Multiple Listing Service, as distributed by MLS GRID.
MLS GRID Disclaimer
Based on information submitted to the MLS GRID as of November 9, 2026 at 11:29 AM PT (date and time MLS GRID Data was obtained). 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 courtesy of Northwest Multiple Listing Service (NWMLS). The listing data relating to real estate for sale on this web site comes in part from the Northwest Multiple Listing Service. Real estate listings held by brokerage firms other than RexMont Real Estate are marked with the “Listing courtesy of NWMLS” designation. Information provided is for the consumer’s personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Some IDX listings have been excluded from this website.
© 2026 Northwest Multiple Listing Service. All rights reserved.
HO
Equal Housing Opportunity. RexMont Real Estate is pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. We encourage and support an affirmative advertising and marketing program in which there are no barriers to obtaining housing because of race, color, religion, sex, handicap, familial status, or national origin.
