Triplex with Metal
For Sale
$395,000
1221 Sage Avenue, Idaho Falls, ID 83402
MULTI_FAMILY - Idaho Falls, ID
Property Size3,424 SF
Lot Size0.16 Acres
Price / SF$115.36
Days on Market39
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
Basement, Bedroom 3, Bedroom 1, Bedroom 4, Bedroom 5, Bedroom 2, Bathroom 1, Bathroom 3, Bathroom 2
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
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
(208) 437-7122
Added: Jul 10
Changed: Aug 5
Last Checked: Aug 17 at 3:06AM
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.
This three-unit triplex on Sage Avenue includes a long-lasting metal roof and frame, hardboard/composition construction. The property totals 3,424 square feet and sits on a 0.16-acre lot. Built in 1920, it features natural gas heating with separate heating for every unit, and tenants pay their own utilities thanks to separate electric meters. The unit mix includes one unit left vacant, with the two other units currently leased. Interior amenities include in-unit laundry in the largest premium unit, plus dishwashers and ranges/ovens, with washers and dryers and refrigerators noted in the appliances list.
Improvements highlighted include fresh exterior paint, upgraded furnaces, and upgraded water heaters. Parking includes off-street parking on a dedicated concrete pad, along with ample street parking. There is a separate main-level storage area suitable for lawn equipment, and the basement houses the upgraded mechanicals.
The home is connected to public water and public sewer, supporting a low-maintenance setup with multiple separate unit systems.
Improvements highlighted include fresh exterior paint, upgraded furnaces, and upgraded water heaters. Parking includes off-street parking on a dedicated concrete pad, along with ample street parking. There is a separate main-level storage area suitable for lawn equipment, and the basement houses the upgraded mechanicals.
The home is connected to public water and public sewer, supporting a low-maintenance setup with multiple separate unit systems.
Key Highlights
- 0.16‑acre lot with a 3,424 SF triplex
- Metal roof and frame hardboard/composition construction
- Separate electric meters and separate natural gas heating for each unit
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
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
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
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Triplex in downtown Idaho Falls with a metal roof, separate electric meters, and separate heating for each unit.
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: 0.16‑acre lot with a 3,424 SF triplex; Metal roof and frame hardboard/composition construction; Separate electric meters and separate natural gas heating for each unit
