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    Three-Unit Residential Income Property Title is generated by Realmo AI

    1608 Cedar St, Sandpoint, ID 83864

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    Claim this Listing
    New
    For Sale
    $920,000

    MULTI_FAMILY - Sandpoint, ID

    Property size:
    2,340 SF
    Lot size:
    0.25 Acres
    Price / SF:
    $393/SF
    Added:
    Jun 5, 2026
    Days on Market:
    3
    Last Refresh:
    Jun 7 at 4:06 am

    Property Features for 1608 Cedar St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    Res-Multi
    Bedrooms
    5
    Rooms
    Bathroom 3, Bedroom 5, Bedroom 4, Bathroom 2, Bedroom 1, Bathroom 1, Bedroom 2, Bedroom 3
    Patio and Porch features
    Patio
    Interior features
    High Speed Internet, Mini-Split A/C, Main Floor Utilities
    Basement
    None
    Standard status
    Active
    APN
    RPS36860000010A
    Size
    2,340 SF
    Lot size
    0.25 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Description
    See Exhibit A
    Tax Annual Amount
    1245

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Electric (Heating)
    Water source
    Public

    Building Details

    Year built
    2024
    Number of units
    3
    Building materials
    Steel Siding, Frame
    Roof type
    Metal
    Architectural style
    Other

    We can help!

    Listing Contact
    Matthew C Erickson

    Listing agent Matthew C Erickson License #SP57398

    Listing office Silvercreek Realty Group, LLC 1099 S Wells Street STE 200, Meridian, ID

    Listing date Jun 5, 2026

    MLS# 26-5807 Listing URL

    Copyright © 2026 Coeur d'Alene Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Built in 2024, a low‑maintenance three‑unit property with public water and public sewer
    • Unit mix: two 2‑bedroom, 1‑bath units (858 SF each) plus one 1‑bedroom, 1‑bath unit (624 SF)
    • Each unit includes quartz countertops and stainless steel appliances
    • Energy‑efficient mini‑split A/C in all units, with electric heating
    • Metal roof with steel siding/frame construction materials
    • Quarter‑acre lot with a patio and ample off‑street parking

    Overview

    Built in 2024, this three-unit residential income property features two 2-bedroom, 1-bath units and one 1-bedroom, 1-bath unit. Each unit is designed with bright, efficient layouts and includes large windows and tall ceilings. Interior finishes are consistent across the property, with quartz countertops, stainless steel appliances, modern fixtures, and LVP flooring.

    The property is sited on a quarter-acre lot with ample off-street parking and room for resident needs. The address is 1608 Cedar St in Sandpoint, ID (Bonner County), and the location places the home near the Library, YMCA, and Travers Park.

    For buyers looking for low-maintenance income housing, the unit mix provides flexibility while maintaining a similar level of finish and comfort. Energy-efficient mini-split HVAC systems support climate control across all units, and the modern construction year may help reduce near-term capital concerns compared with older multifamily stock. Seller financing may be available under fair terms per the remarks provided.
    Property Profile Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Sandpoint
    County
    Bonner
    State
    Idaho
    Longitude
    -116.571696
    Latitude
    48.276267

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    FAQs

    What type of property is this?
    Triplex - Newly built three-unit residence offers modern finishes, off-street parking, and flexible unit mix for income-focused ownership.
    Where is this triplex located?
    The property is located at 1608 Cedar St Sandpoint, ID.
    What is the asking price?
    The asking price for this property is $920,000.
    What are key features of this property?
    This property features: Built in 2024, a low‑maintenance three‑unit property with public water and public sewer; Unit mix: two 2‑bedroom, 1‑bath units (858 SF each) plus one 1‑bedroom, 1‑bath unit (624 SF); Each unit includes quartz countertops and stainless steel appliances
    (208) 946-8278
    We can help!
    Listing Contact
    Matthew C Erickson
    Real Estate License ID: SP57398
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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