Spokane Homes under $500,000

Spokane Homes under $500,000

Welcome to Spokane, Washington—a vibrant city nestled in the heart of Spokane County, known for its stunning landscapes, rich history, and a welcoming community. Here, urban convenience meets the tranquility of nature, making it an ideal location for families, professionals, and retirees alike.

Spokane boasts a diverse range of neighborhoods, each with its own unique charm and character. For homebuyers seeking affordability without compromising on quality, the Spokane real estate market offers an impressive selection of homes under $500,000. Whether you’re looking for a cozy bungalow, a modern townhouse, or a spacious family home, Spokane has something to suit every taste and lifestyle.

One of the standout features of living in Spokane is the abundance of outdoor recreational opportunities. With over 76 parks, scenic rivers, and nearby mountains, residents can enjoy hiking, biking, and skiing, all within a short drive from their front door. The city's vibrant downtown area is filled with boutique shops, local eateries, and cultural attractions, ensuring that residents have plenty to explore.

Moreover, Spokane is known for its strong sense of community, with numerous events and festivals throughout the year that bring residents together. From farmers’ markets to art walks, there’s always something happening in this lively city.

If you’re considering a move to Spokane, you’ll find that the affordability of homes under $500,000 makes it an attractive option for first-time buyers and seasoned investors alike. Discover your dream home in Spokane, where comfort meets adventure, and the possibilities are endless!

Newest Spokane Homes under $500,000

1704 Ash, Spokane
$495,000
26-4816 MLS
Ash Apartments is a well-located 7-unit value-add apartment community in Spokane's West Central neighborhood, offering immediate cash flow with a clear path to enhanced long-term returns through light interior upgrades and operational improvements. The property consists of two charming buildings and has benefited from nearly $115,000 in recent capital improvements including new electrical service and panels, upgraded windows, new siding and exterior paint, interior paint, LVP flooring, and a new furnace, significantly reducing near-term capital needs. The asset is ideally positioned for continued income growth through updated interiors and refreshed common areas, and its proximity to Downtown Spokane, Gonzaga University, transit, parks, and major employers supports strong and durable rental demand, making it an attractive opportunity for investors seeking a stabilized core holding with meaningful upside.

1704 Ash, Spokane
6408 Normandie, Spokane
$429,000
26-4119 MLS
Unit 6410 is now vacant and ready for an owner-occupant! Live in one unit and rent the other two to help offset mortgage and living expenses. The detached garage, currently used by the seller for storage, will also be available for the new owner's use. This well-maintained Spokane triplex includes one 1-bedroom, 1-bath unit and two 2-bedroom, 1-bath units, plus a carport with three parking spaces and detached garage/storage. Recent updates include a new water heater in Unit 6410 (2022), new range in Unit 6412 (2023), new laundry room water heater, flooring, and electrical subpanel (2022), new exterior paint, gutters, landscaping beds, and shrubs (2022), and a new washer and dryer in the shared laundry room (2023). Units 6408 and 6412 are currently leased, with upside potential in rents. Please do not disturb tenants.

6408 Normandie, Spokane
3024 Hogan, Spokane
$395,000
26-3346 MLS
SVN Cornerstone is pleased to present the Hogan Duplex and Storage Units for sale located at 3024 N Hogan St in Spokane. The Hogan Duplex and Storage Units consist of two 2 bedroom 1 bathroom units in the duplex and 2 storage units on the same lot. Opportunity for Residential Financing - Qualifies for attractive residential financing with lower down payment options and favorable loan terms, increasing accessibility and overall return potential Rental Upside - Current rents are below market with the ability to increase to approximately $1,350, providing immediate income growth potential Diverse Income Streams - Duplex units combined with additional storage units provide multiple sources of income and reduced vacancy risk Situated in a desirable Spokane location with access to employment, schools, and amenities, supporting consistent rental demand and long term stability New roof in 2022 and updated heaters help reduce near term capital expenditures and improve operational stability

3024 Hogan, Spokane
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