722 3rd St · Lewiston, ID 83501

$485,000

5 bd · 4.0 ba · 1,632 sqft · MultiFamily public records · 26 Days on market

Built 1910

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Why this score? — see what drove the D- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +10.7/30.0
• ARV discount +7.5/15.0
• Schools +4.2/10.0
• Livability +3.8/5.0
• DSCR +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.2/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 4 units. confirmed

Listing remarks MLS

Here's your opportunity to own a piece of Lewiston history that pays for itself! This historic Normal Hill 4 plex is fully rented with excellent rental history, is 1 block from LCSC and has had numerous updates. Two (2) bed/1 bath apartments and two (1) bed/1 bath apartments, all offering on site laundry, covered parking in the alley, and a nice lawn. One basement unit is fully furnished. Excellent investment opportunity that pencils well.

Key facts

• Dedicated laundry
• Updated yard
• 4 parking spots

Tags

• STRONG RENTAL HISTORY
• DEDICATED LAUNDRY
• COVERED OFF-STREET PARKING
• UPDATED YARD

Property features AI

Exterior

• Parking: Carport parking; Total parking for 4 vehicles
• Utilities: City water service; Sewer connected
• Home design: Quadruplex (multi-unit property); Originally built in 1910
• Construction: Synthetic exterior construction; Built in 1910; Composition roofing
• Exterior features: Composition roof; Small lot (approximately 5,999 SF); Currently used as 2–4 unit residential

Interior

• Kitchen: Stove/Range in all units
• Bedrooms: Six total bedrooms across the building
• Bathrooms: Four total bathrooms across the building
• Heating & cooling: Forced air heating; Natural gas heating; Ductless/mini-split systems; Wall/window air conditioning units
• Interior features: Four separate units (quadruplex); Some units include washer/dryer; Washer/dryer hookups available in some units
• Laundry & utility: Washer/Dryer in some units; Washer/Dryer hookups in some units

What this means for you Summary

Snapshot

• This is a 2×2bd/1ba + 2×1bd/1ba units multifamily listed at $485k.

Deal economics

• At list price, monthly cash flow is $-230 ($-3k/yr) — negative. Per door: $-57/mo.
• To cash-flow at today's rent, offer at most $444k (8.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $350k (27.8% below list).
• Recommended offer: $350k (27.8% below list) — sets the bar for 1% rule.
• Cap rate 5.7% vs local median 1.9% in Lewiston — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 75/100 on livability (#30 in ID, #4,281 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living A; Watch: amenities F, commute F.
• Lewiston Independent District (urban): math 44% / reading 54% proficiency, ranked #37 of 92 in ID (top 40%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Webster Elementary School (math 47% / reading 52%, grade D, #148 of 357 statewide, top 47%, 274 students, 40% FRL); Lewiston High School (math 37% / reading 63%, grade D+, #39 of 169 statewide, top 23%, 1,373 students, 17% FRL) — zoned schools at 28% FRL track the district average.
• Market conditions: 272 active listings in the ZIP; 125 units permitted in Nez Perce County in 2024 (0 in 5+ unit buildings).
• At $3,500/mo this rent would consume 57% of the median local household income ($74k/yr) (locally 976% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $15k of value loss. Plan a longer hold.
• Nez Perce County population projected at +12% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 26 days — a 2% lower offer ($478k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 16y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $350,000 (27.8% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
8. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.72% ✗
• Cap rate: 5.72%
• Cash-on-cash: -2.03%
• DSCR: 0.91
• GRM: 11.5

CMA / ARV

• ARV (on-the-fly): $323,136
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
327 & 403 Adams Ln	0.58mi	4/2.0 (-1)	1,596 (-2%)	16mo	$305,000	$191	43
1710 & 1712 6th St	0.73mi	4/2.0 (-1)	1,728 (+6%)	8mo	$349,000	$202	37
227 17th Ave	0.61mi	5/2.0	1,868 (+14%)	7mo	$369,000	$198	34

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -19.7%
• Equity multiple: 0.31×
• Total profit: $-93,405
• Equity at exit: $72,315

10-year hold

• IRR: -12.6%
• Equity multiple: 0.26×
• Total profit: $-100,874
• Equity at exit: $41,934

Cash invested: $135,800 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 91 Strongly Landlord-Friendly
• State Idaho: 91 Strongly Landlord-Friendly · R+18
• County: — inherits STATE
• City: — inherits STATE

3-day pay-or-quit; preempted; minimal tenant protections.

Methodology + full state rankings →

ZIP-level market 83501

• Active inventory: 272
• Price-to-rent: 44.4×

Monthly cashflow live

• Estimated rent: $3,500 medium
• Mortgage (P&I): −$2,543
• Tax from tax record: −$250 /mo · $2,994/yr
• Insurance: −$202
• HOA: −$0
• Vacancy / Maint / Mgmt: −$735
• Net cashflow: $-230

Break-even live

Break-even rent $3,791

Max offer price $444,371

Occupancy floor —

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$1,820
▸ 2× units	1	1	$1,680
Total (4 units)			$3,500

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $121,250
• Closing costs: $14,550
• Reserves months: —
• Total cash needed: —

Listing history 26 events

1. 2026-05-24
   status Pending
2. 2026-04-27
   listed $485,000 Active
3. 2024-01-21
   historical
4. 2023-12-08
   listed
5. 2023-12-01
   historical
6. 2023-12-01
   listed
7. 2023-09-18
   historical
8. 2023-09-15
   listed
9. 2023-09-11
   historical
10. 2023-07-29
    listed
11. 2023-02-06
    soldstatus Sold 443-char remark

    Show marketing remark (443 chars)

    Here's your opportunity to own a piece of Lewiston history that pays for itself! This historic Normal Hill 4 plex is fully rented with excellent rental history, is 1 block from LCSC and has had numerous updates. Two (2) bed/1 bath apartments and two (1) bed/1 bath apartments, all offering on site laundry, covered parking in the alley, and a nice lawn. One basement unit is fully furnished. Excellent investment opportunity that pencils well.

12. 2022-12-13
    status Pending 443-char remark

    Show marketing remark (443 chars)

    Here's your opportunity to own a piece of Lewiston history that pays for itself! This historic Normal Hill 4 plex is fully rented with excellent rental history, is 1 block from LCSC and has had numerous updates. Two (2) bed/1 bath apartments and two (1) bed/1 bath apartments, all offering on site laundry, covered parking in the alley, and a nice lawn. One basement unit is fully furnished. Excellent investment opportunity that pencils well.

13. 2022-09-26
    price $420,000 443-char remark

    Show marketing remark (443 chars)

    Here's your opportunity to own a piece of Lewiston history that pays for itself! This historic Normal Hill 4 plex is fully rented with excellent rental history, is 1 block from LCSC and has had numerous updates. Two (2) bed/1 bath apartments and two (1) bed/1 bath apartments, all offering on site laundry, covered parking in the alley, and a nice lawn. One basement unit is fully furnished. Excellent investment opportunity that pencils well.

14. 2022-09-20
    price $425,000 443-char remark

    Show marketing remark (443 chars)

    Here's your opportunity to own a piece of Lewiston history that pays for itself! This historic Normal Hill 4 plex is fully rented with excellent rental history, is 1 block from LCSC and has had numerous updates. Two (2) bed/1 bath apartments and two (1) bed/1 bath apartments, all offering on site laundry, covered parking in the alley, and a nice lawn. One basement unit is fully furnished. Excellent investment opportunity that pencils well.

15. 2022-09-13
    price $450,000 443-char remark

    Show marketing remark (443 chars)

    Here's your opportunity to own a piece of Lewiston history that pays for itself! This historic Normal Hill 4 plex is fully rented with excellent rental history, is 1 block from LCSC and has had numerous updates. Two (2) bed/1 bath apartments and two (1) bed/1 bath apartments, all offering on site laundry, covered parking in the alley, and a nice lawn. One basement unit is fully furnished. Excellent investment opportunity that pencils well.

16. 2022-08-10
    price $460,000 443-char remark

    Show marketing remark (443 chars)

    Here's your opportunity to own a piece of Lewiston history that pays for itself! This historic Normal Hill 4 plex is fully rented with excellent rental history, is 1 block from LCSC and has had numerous updates. Two (2) bed/1 bath apartments and two (1) bed/1 bath apartments, all offering on site laundry, covered parking in the alley, and a nice lawn. One basement unit is fully furnished. Excellent investment opportunity that pencils well.

17. 2022-07-28
    price $465,000 443-char remark

    Show marketing remark (443 chars)

    Here's your opportunity to own a piece of Lewiston history that pays for itself! This historic Normal Hill 4 plex is fully rented with excellent rental history, is 1 block from LCSC and has had numerous updates. Two (2) bed/1 bath apartments and two (1) bed/1 bath apartments, all offering on site laundry, covered parking in the alley, and a nice lawn. One basement unit is fully furnished. Excellent investment opportunity that pencils well.

18. 2022-07-12
    price $475,000 443-char remark

    Show marketing remark (443 chars)

    Here's your opportunity to own a piece of Lewiston history that pays for itself! This historic Normal Hill 4 plex is fully rented with excellent rental history, is 1 block from LCSC and has had numerous updates. Two (2) bed/1 bath apartments and two (1) bed/1 bath apartments, all offering on site laundry, covered parking in the alley, and a nice lawn. One basement unit is fully furnished. Excellent investment opportunity that pencils well.

19. 2022-07-01
    listed $495,000 Active 443-char remark

    Show marketing remark (443 chars)

    Here's your opportunity to own a piece of Lewiston history that pays for itself! This historic Normal Hill 4 plex is fully rented with excellent rental history, is 1 block from LCSC and has had numerous updates. Two (2) bed/1 bath apartments and two (1) bed/1 bath apartments, all offering on site laundry, covered parking in the alley, and a nice lawn. One basement unit is fully furnished. Excellent investment opportunity that pencils well.

20. 2017-01-25
    soldstatus
21. 2016-11-30
    listed $169,000
22. 2016-04-29
    soldstatus
23. 2016-03-17
    listed $169,900
24. 2015-07-15
    listed $169,900
25. 2011-01-14
    soldstatus
26. 2010-06-24
    listed $169,500

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast ID · Resets to sale price

• Current annual tax: $2,994 · $250/mo
• Projected year-2 tax: $3,346 · $279/mo
• Expected delta: +$352/yr (+$29/mo · 11.8%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥100°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 8/10 Severe 12 unhealthy d/yr today · 18 by 30 yrs out

Taxation est. · year 1

• Rental income: $42,000
• − Mortgage interest: −$27,168
• − Property taxes: −$2,994
• − Insurance: −$2,425
• − Repairs & maintenance: −$3,360
• − Management: −$3,360
• − Depreciation: −$14,109
• Taxable loss: −$11,416
• Est. tax savings @ 24.0%: +$2,740
• After-tax cash flow: $-20/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Lewiston Independent District
• NCES district ID: 1601860
• Math proficiency: 44% ▬ 0.00%
• Reading proficiency: 54% ▬ 0.00%
• Median HH income: $47,224
• Composite: 41.65/100
• National rank: #3423
• State rank: #37 of 92 in ID

Livability — Lewiston

• Score: 75/100
• State rank: #30
• US rank: #4281

Category grades

Amenities F Commute F Cost of living A Crime B+ Employment C+ Housing A+ Health & safety A+ User ratings B-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lewiston, ID
• County: Nez Perce County · 37,520 people
• City population: 37,520
• Metro: Lewiston, ID-WA
• Population (ZIP): 37,520
• Household income: $73,629
• Rent vs Own: 30.8% rent · 69.2% own
• Severe rent burden: 976.0

Population outlook (Nez Perce County) Hauer SSP2

• Today (2025): 42,583 people
• By 2030: 43,754 · +2.7%
• By 2040: 45,907 · +7.8%
• By 2050: 47,819 · +12.3%
• By 2075: 53,100 · +24.7%
• By 2100: 55,971 · +31.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Two or more races 5% Hispanic / Latino 5% Native American 2%
• Common ancestry: Portuguese 6% Slovak 3% Lithuanian 3%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · Nez Perce

• 2024 margin: Solid R (+38.6) · D 29.4% · R 68.1% · Other 2.5%
• 2008→2024 swing: -20.5pp toward R · 2008: -18.1pp · 2024: -38.6pp
• All cycles: 2024: R+38.6 2020: R+33.6 2016: R+34.1 2012: R+20.9 2008: R+18.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -352.77%
• Current HPI: 229.4958
• Rent YoY: —
• Metro: Lewiston, ID-WA
• State GDP YoY: ▲ 4.51%
• F500 in state: 6

Industry mix (Fortune 500 HQ in ID)

Industry	F500 HQs	Revenue
▸Retail	1	$79B
▸Technology	1	$25B
▸Food / Agriculture	1	$6B

Price history

+186.1% since first listed

26 events — show timeline

• 2026-05-24 Pending — IMLS
• 2026-04-27 Listed $485,000 IMLS
• 2024-01-21 Rental Removed — APPFOLIO
• 2023-12-08 Listed for Rent — APPFOLIO
• 2023-12-01 Rental Removed — APPFOLIO
• 2023-12-01 Listed for Rent — APPFOLIO
• 2023-09-18 Rental Removed — APPFOLIO
• 2023-09-15 Listed for Rent — APPFOLIO
• 2023-09-11 Rental Removed — APPFOLIO
• 2023-07-29 Listed for Rent — APPFOLIO
• 2023-02-06 Sold (MLS) — IMLS
• 2022-12-13 Pending — IMLS
• 2022-09-26 Price Changed $420,000 IMLS
• 2022-09-20 Price Changed $425,000 IMLS
• 2022-09-13 Price Changed $450,000 IMLS
• 2022-08-10 Price Changed $460,000 IMLS
• 2022-07-28 Price Changed $465,000 IMLS
• 2022-07-12 Price Changed $475,000 IMLS
• 2022-07-01 Listed $495,000 IMLS
• 2017-01-25 Sold (MLS) — IMLS
• 2016-11-30 Listed $169,000 IMLS
• 2016-04-29 Sold (MLS) — IMLS
• 2016-03-17 Listed $169,900 IMLS
• 2015-07-15 Listed $169,900 IMLS
• 2011-01-14 Sold (MLS) — IMLS
• 2010-06-24 Listed $169,500 IMLS

Property tax history

+1.3%/yr

Latest (2019): $2,994 · +4.0% YoY. Source: county tax records.