1521 4th St — photo 1 of 10
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$295,000

1521 4th St

Cheney, WA 99004

Listed by Chelsea McFarland, Prime Real Estate Group

Units
2
Built
1970
Size
1,638 sq ft
On market
182 days
Layout
side by side*
Cap rate~4.7%
Cash-on-cash~-6.9%
Cash flow−$467
Aaron Beal

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Purchase details

Purchase price
Closing costs 2.5%
Repairs and remodel

Loan details

Down payment
Interest rateour standard rate

Rents

Rents coming in⁠not on the MLS, confirmed with the listing agent

Expenses

Principal & interest1,628
Property tax 2026⁠Left blank
Insurance⁠No spot on MLS
Sewer⁠Left blank
Water⁠Left blank
Garbage⁠No spot on MLS
Left over after mortgage and expenses161

Set aside

Vacancy
Maintenance
Capital repairs
Management
Set aside for vacancy and maintenance306

What is left

Cash left over each month−$467

The units

UnitBedsBathsSq ftRent / mo
121819$1,020
221819$1,020

These 2 units add up to $2,040 a month. Those rents were posted in the MLS by the listing agent.

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Price history

  1. Mar 31, 2026Listed for sale$325,000$162,500/unit

About the building

Great rental investment opportunity in a desirable Cheney neighborhood near Eastern Washington University. This brick rancher duplex offers two spacious, well maintained units, each featuring 2 bedrooms and 1 bathroom with practical, tenant friendly layouts. Both units are currently rented, providing immediate income. Each unit includes its own porch, dedicated storage unit, and off street parking for added convenience. The seller has completed thoughtful updates during ownership, including flooring, interior paint, appliances, plumbing improvements, and a recently replaced water heater, contributing to the property’s overall condition. A solid, low maintenance investment in a consistently strong rental location.

Where it is

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Listed by Chelsea McFarland, Prime Real Estate Group · MLS# 202614451 · Active

Cap rate, cash flow and cash-on-cash are Beal Estate NW’s own analysis, not MLS data — they follow the financing assumptions shown on this page, and they are not a valuation of the property and not investment advice. Talk to your lender, your accountant and your own advisers before you rely on any of it. MLS GridListings courtesy of Spokane REALTORS® as distributed by MLS Grid. Based on information submitted to the MLS GRID as of 9/29/2026, 3:45:00 PM. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Listing information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing; any other use or search of the data on this site is prohibited. Deemed reliable but not guaranteed accurate by MLS Grid. Verify everything before you write an offer. Report a copyright problem.