$599,950
Est. $3,297/moPrice reduced $15,050 from the original $615,000 asking price
1,998 sq ft
17216 17218 5th Avenue E, Spanaway, WA 98387
• Listed Oct 6, 2026•17 days active · 17 cumulative
Listing Broker: eXp Realty; Mike Severeid; 253-632-6241; mikesevereid@gmail.com
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Listing Broker: eXp Realty; Mike Severeid; 253-632-6241; mikesevereid@gmail.com
About this home
Established Duplex for Sale! This income-producing property offers a great investment opportunity with functional layouts and strong rental potential. Each unit features 2 bedrooms, 2 bathrooms, approximately 1,000 sq. ft. of living space, and an attached garage. A solid cash-flowing asset with comfortable, well-designed units that appeal to a variety of tenants.
Listed by Mike Severeid • eXp Realty
Listing updated: October 21, 2026 at 07:58pm
RexMont checked: moments ago
Source: NWMLS as Distributed by MLS Grid #2589205
Around this home
How much should you offer?
17216 17218 5th Avenue E, Spanaway, WA 98387
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
Flooring
- Laminate
- Vinyl
- Carpet
Heating & cooling
- Baseboard heating
- Wall Furnace heating
- None cooling
Schools
Ratings via SchoolDiggerBethel School District
- Evergreen ElementaryPublic · Grades K-5 · State rank 733 of 1,1384/10
- Cedarcrest Jnr HighPublic · Grades Middle—
- Spanaway Lake High SchoolPublic · Grades 9-12 · State rank 218 of 3964/10
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
- false
- Building square feet
- 1,998 sq ft
Income & expenses
- Gross scheduled income
- $46,200
- Total monthly income
- $3,850
- Gross adjusted income
- $46,200
- Net operating income
- $38,162
- Cap rate
- 6.36%
- Gross rent multiplier
- 12.98
- Total expenses
- $8,038
- Insurance
- $1,900
- Other expenses
- $500
- Water / sewer / garbage paid by
- 0
Parking & storage
- Parking spaces
- 10
- Uncovered parking
- 8
- Covered spaces
- 2
Taxes & assessment
- Annual taxes
- $5,638
- Tax year
- 2026
- Financing
- Cash, Conventional, VA Loan
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.
Sales & Tax Records for 17216 17218 5th Avenue E
NWMLS via MLS Grid · Pierce County AssessorEvery listing, pending, price change and closing filed on this home with the NWMLS, the county’s recorded sales, and its assessed values by tax year.
- Oct 22, 2026Price reducedNWMLS via MLS Grid · #2589205$599,950$300/sq ft
- Oct 6, 2026ListedNWMLS via MLS Grid · #2589205$615,000$308/sq ft
Down payment assistance
6 programs may be available to provide you with up to $29,998 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
$3,917 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: eXp Realty; Mike Severeid; 253-632-6241; mikesevereid@gmail.com
Market pulse
Spanaway 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 64 days.
Recent sales nearby
Within 1 mile · last 6 months$593,901 Sold
3 days ago
4 bd•2.5 ba•~2,330 sq ft•Single Family
505 184th Street Ct E #53, Spanaway, WA 98387
2%
Over list
499
Days on market
0.7 mi
Distance
$624,460 Sold
3 days ago
4 bd•2.25 ba•~2,330 sq ft•Single Family
18439 7th Avenue Ct E #37, Spanaway, WA 98387
15%
Over list
336
Days on market
0.8 mi
Distance
$179,995 Sold
1 week ago
3 bd•1.75 ba•Single Family
602 164th Street Ct E #53, Spanaway, WA 98387
0%
Over list
69
Days on market
0.5 mi
Distance
$480,000 Sold
1 week ago
4 bd•2.5 ba•~2,004 sq ft•Single Family
1121 183rd Street Ct E, Spanaway, WA 98387
0%
Over list
—
Days on market
0.9 mi
Distance
$791,292 Sold
2 weeks ago
5 bd•3.25 ba•~3,079 sq ft•Single Family
16410 8th Avenue E #37, Spanaway, WA 98387
6%
Over list
269
Days on market
0.6 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 Oct 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 October 23, 2026 at 6:24 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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© 2026 Northwest Multiple Listing Service. All rights reserved.
HO
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