NOT LISTED FOR SALE

406 E 7th Ave Spokane, WA 99202

East Central Neighborhood

Estimated Value: $307,000 - $409,000

-- Bed
2 Baths
1,700 Sq Ft
$214/Sq Ft Est. Value

Last Sold July 27, 2023

Last sale price $420,000 $247 Per Sq Ft

Est. 11% decrease in value since last sale

Current estimated payment $2,287/month

Highlights

  • Cooling Available
  • Sacajawea Middle School Rated A-
  • Heating System Uses Gas

About This Home

As of July 2023

PBL - CASH FLOWING RENTAL! Over 7% CAP RATE AS AIRBNB; COMES FULLY FURNISHED! 2 Bedrooms/1 Bathroom, 850 sq ft PER UNIT; Blocks away from Sacred Heart Hospital, dedicated parking spots and fenced yard.

Last Agent to Sell the Property

Lauren Rasmussen

Amplify Real Estate Services License #21037191 Listed on: 06/26/2023

Amplify Real Estate Services

Last Buyer's Agent

MISC MISC

NON MLS

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1900

Lot Details

  • 6,534 Sq Ft Lot

Parking

  • Assigned Parking

Home Design

  • Duplex
  • Composition Roof

Utilities

  • Cooling Available
  • Heating System Uses Gas

Community Details

  • 2 Units

Property Details

Home Type

Multi-Family

Year Built

Built in 1900

Lot Details

0

Listing Details

  • Sub Type: Rental Income
  • Access: Pub Rd
  • Class: Rental Income
  • Year Built: 1900
  • Style Of Construction: Duplex Up-Down
  • Lvt Date: 06/26/2023
  • Common Interest Community: No
  • Geo Address Line: 406 E 7th Ave
  • Geo Primary City: Spokane
  • Geo Quality: 0.95
  • Geo Subdivision: WA
  • Geo Update Timestamp: 6/26/2023 6:01:38 PM
  • Geo Zoom Level: 15
  • Allow Public Comments: No
  • Special Features: None
  • Property Sub Type: MultiFamily

Exterior Features

  • Roof: Comp

Garage/Parking

  • Garage Parking: Asigned Sp
  • Garage Size: 0

Utilities

  • Heating/Cooling: Gas, Elec

Schools

  • School District: Spokane Dist 81

Lot Info

  • Acres Mol: 0.15
  • Estimated Lot Sq Ft: 6534
  • Loc Dir E W: E
  • Loc Dir N S: S
  • Loc Numberblk E W: 4
  • Site Improvements: Pub Sewer, Swr Conn, Pub Wtr
  • Loc Numberblk N S: 7

Multi Family

  • Number Of Units: 2

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jun 26, 2023
Closed on
Jul 25, 2023
Sold by
Rmb Holdings Llc
Bought by
Berg Ryan and Mcdonald Josh
Seller's Agent
Lauren Rasmussen
Amplify Real Estate Services
Buyer's Agent
MISC MISC
NON MLS
List Price
$420,000
Sold Price
$420,000
Views
1
Current Estimated Value
$372,218

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$47,782
Avg. Annual Appreciation
-5.70%

Purchase Details

Closed on
Jul 7, 2021
Sold by
Mcberg Holdings Llc
Bought by
Rmb Holdings Llc

Purchase Details

Closed on
Jul 17, 2020
Sold by
Rossey Bill and Rossey Kristen
Bought by
Jmac Investments Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$108,150
Interest Rate
3.1%
Mortgage Type
Unknown

Purchase Details

Listed on
Jan 15, 2016
Closed on
Feb 9, 2016
Sold by
Dickinson David R and Dickinson Marty
Bought by
Rossey William and Rossey Kristen
Seller's Agent
Nancy Wynia
Windermere Manito, LLC
Buyer's Agent
Gayle Earling
Windermere Valley
List Price
$135,000
Sold Price
$135,000

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
10.58%

Purchase Details

Closed on
Oct 26, 2005
Sold by
Nixon Joost F and Bryan Stuart W
Bought by
Dickinson David Reid and Dickinson Marty Jean

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$102,000
Interest Rate
5.68%
Mortgage Type
Fannie Mae Freddie Mac

Purchase Details

Closed on
Nov 19, 2003
Sold by
State Street Bank & Trust Co
Bought by
Nixon Joost F and Bryan Stuart W

Purchase Details

Closed on
Jul 7, 2003
Sold by
Akins Joseph and Akins Sharon
Bought by
State Street Bank & Trust Co

Purchase Details

Closed on
Jun 10, 1997
Sold by
Parker Gracie M
Bought by
Akins Joseph and Akins Sharon
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
Not Available
List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Berg Ryan -- None Listed On Document
Rmb Holdings Llc -- None Available
Mcberg Holdings Llc -- None Available
Jmac Investments Llc $195,000 None Available
Rossey William $135,000 Stewart Title Of Spokane
Dickinson David Reid $127,500 Pacific Nw Title
Nixon Joost F $55,000 First American Title Ins
State Street Bank & Trust Co $59,000 First American Title Ins
Akins Joseph $26,000 Pioneer Title Company
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Jmac Investments Llc $108,150
Previous Owner Dickinson David Reid $102,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
07/27/2023 07/27/23 Sold $420,000 0.0% $247 / Sq Ft
06/26/2023 06/26/23 Pending -- -- --
06/26/2023 06/26/23 For Sale $420,000 +211.1% $247 / Sq Ft
02/09/2016 02/09/16 Sold $135,000 0.0% $72 / Sq Ft View Prior Sale
01/31/2016 01/31/16 Pending -- -- --
01/15/2016 01/15/16 For Sale $135,000 -- $72 / Sq Ft
Source: Spokane Association of REALTORS®

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $4,038 $318,100 $95,000 $223,100
2024 $4,038 $406,980 $87,080 $319,900
2023 $3,201 $336,800 $77,400 $259,400
2022 $2,874 $327,080 $48,380 $278,700
2021 $2,649 $222,470 $37,470 $185,000
2020 $2,547 $206,030 $35,730 $170,300
2019 $1,758 $146,810 $32,510 $114,300
2018 $1,885 $135,290 $27,090 $108,200
2017 $1,780 $130,070 $23,870 $106,200
2016 $1,722 $123,100 $28,000 $95,100
2015 $1,717 $120,100 $25,000 $95,100
2014 -- $116,700 $25,000 $91,700
2013 -- $0 $0 $0
Source: Public Records

Agents Affiliated with this Home

  • Lauren Rasmussen

    Seller's Agent in 2023

    Lauren Rasmussen

    Amplify Real Estate Services

    (509) 499-1063

    8 in this area

    195 Total Sales

    Lauren Rasmussen
    Section Image

  • M

    Buyer's Agent in 2023

    MISC MISC

    NON MLS

  • Nancy Wynia

    Seller's Agent in 2016

    Nancy Wynia

    Windermere Manito, LLC

    (509) 990-2742

    1 in this area

    40 Total Sales

    Nancy Wynia
    Section Image
  • Gayle Earling

    Buyer's Agent in 2016

    Gayle Earling

    Windermere Valley

    (509) 981-4152

    130 Total Sales

    Gayle Earling
    Section Image
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Map

Source: Spokane Association of REALTORS®

MLS Number: 202317806

Spokane Association of REALTORS®

APN: 35203.1107

Washington Spokane County Spokane 99202 East Central

406 E 7th Ave, Spokane, WA

Not Listed for Sale

MultiFamily

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