Eagle Ridge living room in a Spokane Wa home sold under 450k in 2024

Spokane Real Estate Market: What Does $450k Buy in 2024?

In the ever-changing landscape of real estate, buyers are constantly on the lookout for the best opportunities. With a budget of $450,000 or less what can you expect to find in Spokane, WA? You could spend hours looking at Zillow Spokane listings, or delve into this 5 minute read to see a variety of opportunities for a real estate budget of $450k in 2024.

First things first, we’re not just talking starter homes here. I’ve put together a list of five different real estate options that fall on or below $450,000 and they include:

  • An updated home in historic Perry District
  • An entry-level family home in Eagle Ridge
  • New construction options in Spokane Valley
  • A multi-family investment property
  • 7 acres of waterfront lake property (well below budget!)

Let’s talk about each one. 

An Updated Home in Historic Perry District

This Perry District Home  at 927 E 13th Ave, Spokane, WA gives you the best of both worlds; historic charm and modern amenities.

What I Love:: It’s a darling home with a large front patio and quintessential porch swing outside, but inside boasts all your modern amenities. Nestled within Spokane’s quiet Perry District that has a 6 block long neighborhood core complete with coffee shop, restaurants, a brewery, salon, boutiques, large park and more.  Perfect for families who like to know their neighbors and enjoy their walkable community.

Quick Details: 

  • Square Footage: 2,426 sq ft
  • Beds: 4
  • Baths: 2
  • Architectural Style: Craftsman
  • Lot Size: 0.15 acres
  • Listing Price: $415,000

An Entry-level Family Home in Eagle Ridge

Eagle Ridge is a highly sought after neighborhood in Spokane. This home at 6727 S Ashland Ct, Spokane, WA is the perfect way to step into Eagle Ridge life.

A charming entry on this home in Eagle Ridge.

What I Love:  Eagle Ridge offers not just a home, but a lifestyle. Located in a vibrant planned community, residents enjoy over 5 miles of scenic walking trails, two private parks, and a calendar brimming with community events. The outside is practically maintenance-free with a fully hardscaped lot and a newly updated sprinkler system. Inside, recent upgrades like new laminate floors, trim, and stainless steel appliances add modern convenience to this charming home.  This single-level home offers the community of a neighborhood without sacrificing sweeping territorial and mountain views. And, allows you to embrace Eagle Ridge lifestyle at an entry-level price point.

Quick Details:

  • Square Footage: 1,550 sq ft
  • Beds: 3
  • Baths: 2
  • Architectural Style: Contemporary
  • Lot Size: 0.18 acres
  • Listing Price: $425,000

Beautiful New Construction Homes in Spokane Valley

I’ve been loving Spokane Valley since I was a kid, with its small town charm, proximity to nature and affordability, it’s a great fit for many homebuyers. There are many homes ready to be built for you in Spokane Valley.

What I Love About New Construction: There is nothing like building your dream home. (I'm currently in the process!) Spokane Valley offers a wealth of options for those looking to purchase a home that is new construction. With a budget of $450,000 and under, home buyers can expect 3-4 bedrooms and 2 baths with roughly 1,500 - 2,000 square footage. Enjoy modern amenities built to your specifications in a safe and family-friendly community. With contemporary designs, energy-efficient features, and sought-after amenities, these properties epitomize the essence of contemporary living in Spokane's ever-evolving real estate market.

Quick Details:

  • Square Footage: Average 1,800 sq ft 
  • Beds: 3-4
  • Baths: 2
  • Property Detail: Modern amenities
  • Architectural Style: Contemporary
  • Lot Size: 0.20 acres (approximate)
  • Listing Price: $416,00 - $423,000

If you are interested in new construction in Spokane Valley. Here is a list of available plans that can be customized to your needs and fit within available lots in the Spokane Valley. 

Multi-family Investment Property in North Spokane

Are you looking for an investment property at entry-level pricing? That’s what you receive with the duplex at 1712 E Everett Ave, Spokane, WA.

What I Love: These solid brick duplexes are so clean and low maintenance with vinyl flooring, a newer roof, updated vinyl windows and covered parking. Centrally located in north Spokane and leased up ready to go. Rents are $1795 per door with an additional $80 for water and garbage. If you are looking into Spokane investment properties, this would be a great fit. 

  • Square Footage: 2,304 sq ft
  • Beds: 6
  • Baths: 2
  • Architectural Style: Traditional
  • Lot Size: 0.16 acres
  • Listing Price: $450,000

Waterfront Property on Long Lake Below Budget

Here’s my wild card. Waterfront acreage on Long Lake with 2021 survey information included - yes, please!  The property at XX W Long Lake Rd, Ford, WA offers just that for well under budget.

What I love: What is not to love about waterfront lake property that is only 40 minutes from downtown Spokane? Enjoy the beautiful drive to this 7 acre waterfront parcel. There are several building spots to choose from where you could build a summer cabin or home with a view. With excavations and development plans included from Adams & Clark engineering a buyer could hit the ground running or wait to build a dream dwelling.  

  • Square Footage: N/A
  • Property Detail: Waterfront property
  • Lot Size: 7 acres
  • Listing Price: $289,000

Quick Note: Land financing is completely different from existing home financing. This lake property would probably be tough for a first time buyer to finance, as land requires a much higher down payment amount. But, it might be the perfect fit to add as an investment to your real estate portfolio.

In Spokane, Washington, a budget of $450,000 unlocks a world of possibilities in the real estate market. Whether you're drawn to the charm of a historic single-family home, the amenities of new construction, or the opportunity of investment, Spokane has something to offer every buyer. With a budget of $450,000 or less, there are many beautiful real estate options in Spokane.

The above mentioned properties were all available as of May 2024. To view a list of currently available properties in Spokane, jump over to search homes here and filter for criteria that fits your needs.  If you're looking for an experience real estate agent to help guide your process, get in touch.


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