Remodeled Duplex with Attached
For Sale
$550,000
314 3rd, Cheney, WA 99004
Two expansive residences offer private driveways, climate control, laundry, and flexible living arrangements near Eastern Washington University.
Property Size3,200 SF
Price / SF$171.88
Days on Market50
Property Features for 314 3rd
General Information
Standard status
Active
Size
3,200 SF
Property subtype
Multi Family Home
Amenities
Garage: Attached
Garage Spaces: 2
Attached
2
Building Details
Year Built
2016
Listing Agency:
LT Real Estate
Listed By:
Ryan Towner · License #24027253
(509) 315-8720
Source:
Clearwaterproperties
Added: Aug 30
Changed: Oct 16
Last Checked: Oct 16 at 7:44AM
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 LT Real Estate
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Investment Insights
Based on property information with market context.
This duplex contains approximately 3,200 square feet across two 4-bedroom, 2.5-bath residences. Each unit provides an open interior arrangement, abundant natural light, air conditioning, an in-unit washer and dryer, a private driveway, and an attached 2-car garage. The property was built in 2016 and has been fully remodeled.
Located at 314 3rd in Cheney, Washington, the duplex is near Eastern Washington University, along with shopping, dining, and downtown Cheney. The two-unit layout supports separate household use while maintaining comparable features in each residence.
Located at 314 3rd in Cheney, Washington, the duplex is near Eastern Washington University, along with shopping, dining, and downtown Cheney. The two-unit layout supports separate household use while maintaining comparable features in each residence.
Key Highlights
- Two‑unit duplex with approximately 3,200 square feet
- Each residence includes 4 bedrooms and 2.5 bathrooms
- Attached 2‑car garage provided for each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,517
Cap Rate
6.46%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$710,340
$710.3K
Cap Rate 7%
$507,386
$507.4K
Cap Rate 9%
$394,633
$394.6K
Market Conditions
NOI Build-Up for 3,200 SF
Gross rent
$54.9K $17.16/SF
− Vacancy
−$4.2K −$1.30/SF
EGI
$50.7K $15.86/SF
− OpEx
−$15.2K −$4.76/SF
NOI
$35.5K $11.10/SF
Area
Spokane County, WA
Vacancy
7.60%
Lease Rate
$17.16 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$710,340
Cap Rate 7%
$507,386
Cap Rate 9%
$394,633
Alternative Uses
Best Use
Multifamily LT 5
$507.4K
$444.0K – $592.0K
NOI $35,517 @ 7.0% cap · market cap 6.46%
Second Best
Apartment 5plus
$466.3K
$408.0K – $544.1K
NOI $32,643 @ 7.0% cap · market cap 5.94%
Theoretical Best
Office A
$739.4K
$647.0K – $862.7K
NOI $51,760 @ 7.0% cap · market cap 9.41%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
427
Businesses Nearby
Explore this area
Business Placement
Demographics for 99004, WA
23,064
Population
8,992
Households
2.6
Avg Household Size
29
Median Age
36%
College-Educated
93%
High-School Grad
334.3 sq mi
ZIP Area
69
Density / Sq Mi
$62,014
Median Household Income
$29,835
Median Earnings
$1,081
Median Rent
$368,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Duplex - Two expansive residences offer private driveways, climate control, laundry, and flexible living arrangements near Eastern Washington University.
Where is this duplex located?
The property is located at 314 3rd Cheney, WA.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Two‑unit duplex with approximately 3,200 square feet; Each residence includes 4 bedrooms and 2.5 bathrooms; Attached 2‑car garage provided for each unit
