$430,000
Est. $2,330/mo3,456 sq ft
2608 N Madelia Street, Spokane, WA 99207
• Listed Sep 22, 2026•48 days active · 48 cumulative
Listing Broker: The Paragon Group; Peter Clark; 509-943-0400; peter@multifamilymason.com
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Listing Broker: The Paragon Group; Peter Clark; 509-943-0400; peter@multifamilymason.com
About this home
Fantastic opportunity to own a spacious North Spokane duplex with approximately 1,700 SF per unit. This property offers the size, comfort, and functionality of a single-family home with the income potential of multifamily ownership. One unit has been recently updated and is currently vacant, creating an immediate opportunity for an owner-occupant to move in while continuing to generate rental income from the neighboring unit. The setup may also provide access to multiple owner-occupied financing options. For investors, the property offers an approachable entry point into the Spokane multifamily market with just two highly manageable units and potential for continued rent growth. Located in an established North Spokane neighborhood just blocks from a brand-new middle school and other recent area improvements, the property also provides convenient access to retail, services, employment centers, and major transportation corridors. An excellent opportunity for a first-time investor, portfolio expansion, or buyer looking to offset housing costs through rental income.
Listed by Peter Clark • The Paragon Group
Listing updated: September 22, 2026 at 03:43pm
RexMont checked: moments ago
Source: NWMLS as Distributed by MLS Grid #2586041
Open houses
No upcoming open houses scheduled for this property.
Around this home
How much should you offer?
2608 N Madelia Street, Spokane, WA 99207
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
- Duplex
- 676 sq ft garage
Flooring
- Laminate
- Carpet
Heating & cooling
- Wall Furnace heating
- Wall Unit(s) cooling
Schools
Ratings via SchoolDiggerSpokane School District
- Buyer To VerifyPublic · Grades Elementary—
- Buyer To VerifyPublic · Grades Middle—
- Buyer To VerifyPublic · Grades High—
Assigned schools for this property per the listing's MLS data. School district boundaries change — verify the exact assigned schools with the district before purchasing.
Multi-family facts
As entered by the listing broker on Northwest MLS
Units
- Total units
- 2
- Units in building
- 2
- Units below grade
- true
- Building square feet
- 3,456 sq ft
Income & expenses
- Gross scheduled income
- $38,880
- Total monthly income
- $1,620
- Gross adjusted income
- $38,880
- Net operating income
- $30,253
- Cap rate
- 7.03%
- Gross rent multiplier
- 11.06
- Total expenses
- $8,627
- Insurance
- $670
- Other expenses
- $4,463
- Water / sewer / garbage paid by
- 0
Parking & storage
- Parking spaces
- 3
- Uncovered parking
- 2
- Covered spaces
- 1
Taxes & assessment
- Annual taxes
- $3,494
- Tax year
- 2026
- Financing
- Cash, Conventional, FHA
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 $21,500 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
$2,729 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
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Listing Broker: The Paragon Group; Peter Clark; 509-943-0400; peter@multifamilymason.com
Market pulse
Spokane is a balanced market.
Supply and demand are roughly in balance. Neither side has a clear edge.
Offer insight: Homes typically sell with one offer near asking price.
List to sale price: The average home sells very close to list price.
Time on market: The average home goes pending in around 125 days.
Recent sales nearby
Within 1 mile · last 6 months$315,000 Sold
4 months ago
4 bd•2 ba•~1,554 sq ft•Single Family
1324 E Kiernan Avenue, Spokane, WA 99207
0%
Over list
42
Days on market
0.7 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.
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HO
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