Newly Built Duplex with Two-Car
For Sale
$675,000
195-197 2nd Street, Idaho Falls, ID 83401
MULTI_FAMILY - Idaho Falls, ID
Property Size3,880 SF
Lot Size0.19 Acres
Price / SF$173.97
Days on Market21
Property Features for 195-197 2nd Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
General Zoning: If Residence 1, Specific Zoning: Idaho Falls-R1 Residential
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 4, Bedroom 6, Bedroom 1, Bathroom 3, Bedroom 2, Bathroom 2, Bathroom 1, Basement, Bedroom 5, Bedroom 3, Bedroom 4
Parking
4
Parking features
Garage
Basement
Full, Finished
Appliances
Separate Water Heaters, Dishwasher, Refrigerator, Oven
Subdivision
Crows Addition-Bon
Elementary school
Dora Erickson Elementary School
Middle school
Taylor View 91JH
High school
Idaho Falls 91HS
Directions
From 1st street turn south on N Lee Ave. Turn right on 2nd St. Home is on the corner.
Standard status
Active
APN
RPA0540004046B
Size
3,880 SF
Lot size
0.19 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
E 15' LOT 46, LOTS 47-48, BLOCK 4, CROWS
Tax Annual Amount
2614
Legal Description
E 15' LOT 46, LOTS 47-48, BLOCK 4, CROWS
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Cooling system
Central Air
Water source
Public
Building Details
Year built
2023
Number of units
2
Building materials
Frame, Vinyl Siding
Listing Agency:
Silvercreek Realty Group
(208) 523-6111
Listed By:
Vic Martinez · License #SP45505
(208) 523-6111
Added: Jul 28
Changed: Aug 1
Last Checked: Aug 17 at 8:06PM
MLS# 2188140
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.
Newly built in 2023, this duplex sits on a corner lot and offers two separate units. Each side measures 1,940 square feet and includes three bedrooms and two full bathrooms. The main level features an open living room and kitchen area, with the primary bedroom and access to the main bathroom. A full basement adds a large family room, two additional bedrooms, and a full bath, with laundry located just off the two basement bedrooms. Both sides also provide lots of storage.
Each unit includes a 2-car garage, and the home is served by public water and public sewer. Heating is forced air with natural gas, and cooling is provided by central air. The kitchen appliances included are a dishwasher, refrigerator, and oven.
Built with frame construction and vinyl siding, this property is configured for resident comfort across both levels within each unit.
Each unit includes a 2-car garage, and the home is served by public water and public sewer. Heating is forced air with natural gas, and cooling is provided by central air. The kitchen appliances included are a dishwasher, refrigerator, and oven.
Built with frame construction and vinyl siding, this property is configured for resident comfort across both levels within each unit.
Key Highlights
- Built in 2023 duplex on a corner lot
- 1,940 SF per side with three bedrooms and two full baths
- Basements include a large family room, two additional bedrooms, and one full bath
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
$32,682
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
4.84%
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%
$653,640
$653.6K
Cap Rate 7%
$466,886
$466.9K
Cap Rate 9%
$363,133
$363.1K
Market Conditions
NOI Build-Up for 3,880 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
$48.9K $12.60/SF
− Vacancy
−$2.2K −$0.57/SF
EGI
$46.7K $12.03/SF
− OpEx
−$14.0K −$3.61/SF
NOI
$32.7K $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%
$653,640
Cap Rate 7%
$466,886
Cap Rate 9%
$363,133
Alternative Uses
Best Use
Multifamily LT 5
$466.9K
$408.5K – $544.7K
NOI $32,682 @ 7.0% cap · market cap 4.84%
Second Best
Apartment 5plus
$422.3K
$369.5K – $492.7K
NOI $29,562 @ 7.0% cap · market cap 4.38%
Theoretical Best
Office A
$857.2K
$750.1K – $1.00M
NOI $60,007 @ 7.0% cap · market cap 8.89%
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
871
Businesses Nearby
Explore this area
Business Placement
Demographics for 83401, ID
47,114
Population
16,026
Households
2.9
Avg Household Size
31
Median Age
30%
College-Educated
90%
High-School Grad
197.3 sq mi
ZIP Area
239
Density / Sq Mi
$75,870
Median Household Income
$35,293
Median Earnings
$1,132
Median Rent
$307,700
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?
Duplex - New 2023 duplex on a corner lot, with two-car garages for each unit and central air.
Where is this duplex located?
The property is located at 195-197 2nd Street Idaho Falls, ID.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: Built in 2023 duplex on a corner lot; 1,940 SF per side with three bedrooms and two full baths; Basements include a large family room, two additional bedrooms, and one full bath
