422 4th St, Cheney, WA 99004
MULTI_FAMILY - Victorian - Cheney, WA
- Added:
- Feb 5, 2026
- Days on Market:
- 142
- Last Refresh:
- Jun 27 at 9:06 am
Property Features for 422 4th St
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 4
- Bathrooms
- 4
- Rooms
- Bedroom 3, Bathroom 1, Bedroom 1, Bathroom 4, Bathroom 3, Bedroom 4, Bedroom 2, Bathroom 2
- Parking
- 4
- Parking features
- Assigned, Offsite
- Window features
- Vinyl Frames
- Patio and Porch features
- Patio
- Basement
- Walk-Out Access
- Appliances
- Free-Standing Range, Dishwasher, Refrigerator, Microwave
- Standard status
- Active
- APN
- 13132.0903
- Size
- 2,215 SF
- Lot size
- 0.11 Acres
Taxes and HOA fees
- Tax Annual Amount
- 4372
Utilities
- Heating system
- Ductless (Heating), Baseboard, Electric (Heating)
- Cooling system
- Window Unit(s)
Building Details
- Year built
- 1895
- Floors in Building
- 3
- Number of units
- 4
- Building materials
- Brick
- Roof type
- Composition
- Architectural style
- Victorian
Listing agent Marcy Mongan License #21025309 (509) 747-1051
Listing office Windermere Manito, LLC 2829 S GRAND BLVD STE 101, Spokane, WA (509) 747-1051
Listing date Feb 5, 2026
Copyright © 2026 Spokane Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Prime Location: Situated on Greek Row, one block from EWU campus, ideal for students and visitors.
- Income Potential: A well‑maintained 4‑unit rental property with all units currently occupied, offering immediate rental income.
- Unique Units: Each unit offers individual character and charm, with some having a history of successful Airbnb rentals.
- Recent Updates: Features new appliances, fixtures, flooring, fresh paint throughout, and remodeled tiled bathrooms.
- Low Landlord Expenses: Individual electric meters for each unit, with tenants responsible for electric, sewer, and garbage.
- Exterior Features: Freshly painted exterior, two inviting porches, and 5 parking spots.
Overview
Local 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 | $38.0k | $17.16 |
| − Vacancy | −$2.9k | −$1.30 |
| EGI | $35.1k | $15.86 |
| − OpEx | −$10.5k | −$4.76 |
| NOI | $24.6k | $11.10 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Cheney
- County
- Spokane
- State
- Washington
- Longitude
- -117.57807
- Latitude
- 47.488973
