Triplex with Metal
For Sale
$395,000
1221 Sage Avenue, Idaho Falls, ID 83402
Residential Income, Idaho Falls, ID
Property Size3,424 SF
Lot Size0.16 Acres
Price / SF$115.36
Days on Market85
Property Features for 1221 Sage Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
General Zoning: If Low Density Res, Specific Zoning: Idaho Falls-Tn-Traditional Nbh
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 3, Bedroom 5, Bedroom 3, Basement, Bathroom 2, Bedroom 2, Bedroom 4, Bathroom 1, Bedroom 1
Parking features
Off Street
Basement
Partial, Unfinished
Appliances
Separate Water Heaters, Dishwasher, Dryer, Refrigerator, Oven, Washer, Stove
Subdivision
Riverside Subdivision-Bon
Lot features
Interstate Exit/ Access, Near Green Belt, Near Stream/ River, Established Lawn, Many Trees, Corner Lot, Level
Elementary school
Bush 91EL
Middle school
Eagle Rock 91JH
High school
Skyline 91HS
Directions
heading north on memorial dr, take a left on Sage ave, home is on the left.
Standard status
Active
APN
RPA2020077006O
Size
3,424 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LOT 6, BLOCK 77, RIVERSIDE SW1/4, SEC 18, T 2N, R 38 UNITS 3
Tax Annual Amount
2856
Legal Description
LOT 6, BLOCK 77, RIVERSIDE SW1/4, SEC 18, T 2N, R 38 UNITS 3
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Water source
Public
Amenities
in-unit laundry
off-street parking
storage area
Building Details
Year built
1920
Number of units
3
Building materials
Frame, Hardboard/Composition
Roof type
Metal
Listing Agency:
Axen Realty
(208) 437-7122
Listed By:
Dustin Hawkins · License #46635
(208) 821-2832
Added: Jul 10
Changed: Sep 17
Last Checked: Oct 2 at 7:06PM
MLS# 2187466
Copyright © 2026 Snake River Regional MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 1920, this 3,424-square-foot triplex includes three residential units on a 0.16-acre parcel in downtown Idaho Falls. One unit is vacant, while two units have existing leases. The property features a metal roof, fresh exterior paint, upgraded furnaces, upgraded water heaters, and separate electric metering and heating for each unit. The largest unit has in-unit laundry, and the property also includes a basement with mechanical equipment and a separate main-level storage area.
Parking includes an off-street concrete pad along with street parking. Public water and public sewer serve the property, with natural gas heating. The location is within walking distance of the Snake River, the Idaho Falls Greenbelt, and downtown amenities.
Parking includes an off-street concrete pad along with street parking. Public water and public sewer serve the property, with natural gas heating. The location is within walking distance of the Snake River, the Idaho Falls Greenbelt, and downtown amenities.
Key Highlights
- 3,424‑square‑foot triplex built in 1920
- 0.16‑acre parcel in downtown Idaho Falls
- One unit vacant; two units have existing leases
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$28,841
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.30%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$576,820
$576.8K
Cap Rate 7%
$412,014
$412.0K
Cap Rate 9%
$320,456
$320.5K
Market Conditions
NOI Build-Up for 3,424 SF
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.
Gross rent
$43.1K $12.60/SF
− Vacancy
−$1.9K −$0.57/SF
EGI
$41.2K $12.03/SF
− OpEx
−$12.4K −$3.61/SF
NOI
$28.8K $8.42/SF
Area
Bonneville County, ID
Vacancy
4.50%
Lease Rate
$12.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$576,820
Cap Rate 7%
$412,014
Cap Rate 9%
$320,456
Alternative Uses
Best Use
Multifamily LT 5
$412.0K
$360.5K – $480.7K
NOI $28,841 @ 7.0% cap · market cap 7.30%
Second Best
Apartment 5plus
$372.7K
$326.1K – $434.8K
NOI $26,088 @ 7.0% cap · market cap 6.60%
Theoretical Best
Office A
$756.5K
$661.9K – $882.6K
NOI $52,954 @ 7.0% cap · market cap 13.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,201
Businesses Nearby
Explore this area
Business Placement
Demographics for 83402, ID
28,452
Population
11,983
Households
2.4
Avg Household Size
34
Median Age
31%
College-Educated
92%
High-School Grad
171.0 sq mi
ZIP Area
166
Density / Sq Mi
$72,064
Median Household Income
$35,593
Median Earnings
$904
Median Rent
$301,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Triplex - Three-unit property with separate electric meters and heating for each residence.
Where is this triplex located?
The property is located at 1221 Sage Avenue Idaho Falls, ID.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: 3,424‑square‑foot triplex built in 1920; 0.16‑acre parcel in downtown Idaho Falls; One unit vacant; two units have existing leases
