Brick Rancher
1521 4th St Cheney, WA 99004
For Sale
$295,000
Duplex with two 2-bedroom, 1-bath units, each with its own porch, storage, and off-street parking, both currently rented.
Property Size1,638 SF
Price / SF$180.10
Days on Market9
Property Features for 1521 4th St
General Information
- Standard status
- Active
- Size
- 1,638 SF
- Property subtype
- Multi Family Home
Building Details
- Year Built
- 1970
Listing Agency:
Prime Real Estate Group
(509) 565-1581
Listed By:
Chelsea McFarland
Source:
Clearwaterproperties
Added: Jul 16
Changed: Jul 23
Last Checked: Jul 24 at 8:58AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Prime Real Estate Group
Investment Insights
Based on property information with market context.
This brick rancher duplex includes two spacious, well maintained units, each offering 2 bedrooms and 1 bathroom. Both units are currently rented and feature practical, tenant-friendly layouts. Each unit also has its own porch, dedicated storage, and off-street parking for added convenience.
The property is located in a Cheney neighborhood near Eastern Washington University. The current configuration supports straightforward rental operation with two separate, independently served units.
During the seller’s ownership, thoughtful updates have been completed, including flooring, interior paint, appliances, plumbing improvements, and a recently replaced water heater. Overall, the building presents as a low-maintenance residential income property with immediate rental occupancy.
The property is located in a Cheney neighborhood near Eastern Washington University. The current configuration supports straightforward rental operation with two separate, independently served units.
During the seller’s ownership, thoughtful updates have been completed, including flooring, interior paint, appliances, plumbing improvements, and a recently replaced water heater. Overall, the building presents as a low-maintenance residential income property with immediate rental occupancy.
Key Highlights
- Brick ranch duplex built in 1970 with 2 units, each offering 2 bedrooms and 1 bathroom
- Both units are currently rented, providing immediate rental income
- Each unit includes its own porch, dedicated storage unit, and off‑street parking
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $28.1k | $17.16 |
| − Vacancy | −$2.1k | −$1.30 |
| EGI | $26.0k | $15.86 |
| − OpEx | −$7.8k | −$4.76 |
| NOI | $18.2k | $11.10 |
1,638 SF · lease $17.16/SF/yr · vacancy 7.60% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$259.7K
$227.3K – $303.0K
NOI $18,180 @ 7.0% cap · market cap 6.16%
Second Best
Apartment 5plus
$238.7K
$208.9K – $278.5K
NOI $16,709 @ 7.0% cap · market cap 5.66%
Theoretical Best
Office A
$378.5K
$331.2K – $441.6K
NOI $26,495 @ 7.0% cap · market cap 8.98%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Duplex with two 2-bedroom, 1-bath units, each with its own porch, storage, and off-street parking, both currently rented.
Where is this duplex located?
The property is located at 1521 4th St Cheney, WA.
What is the asking price?
The asking price for this property is $295,000.
What are key features of this property?
This property features: Brick ranch duplex built in 1970 with 2 units, each offering 2 bedrooms and 1 bathroom; Both units are currently rented, providing immediate rental income; Each unit includes its own porch, dedicated storage unit, and off‑street parking
