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    Riverfront Investment Property Opportunity Title is generated by Realmo AI

    215 N Montana Ave, Oldtown, ID 83822

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    For Sale
    $999,000

    MULTI_FAMILY - Oldtown, ID

    Property size:
    6,000 SF
    Lot size:
    2.31 Acres
    Price / SF:
    $166/SF
    Added:
    Oct 27, 2025
    Days on Market:
    208
    Last Refresh:
    May 22 at 3:06 am

    Property Features for 215 N Montana Ave

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    See Documents
    Bedrooms
    9
    Rooms
    Bedroom 2, Bedroom 5, Bathroom 3, Bedroom 8, Bedroom 3, Bedroom 4, Bathroom 2, Bathroom 4, Bathroom 1, Bedroom 9, Bedroom 6, Bedroom 1, Bedroom 7
    Parking features
    Open
    Interior features
    Cable Internet Available, Satellite
    Basement
    Unfinished
    Standard status
    Active
    APN
    RPN0287014002C/RP4017A
    Size
    6,000 SF
    Lot size
    2.31 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Description
    24-56N-6W NEWPORT ADD TO OT BLK 14 LOTS 2,3,6,7,10,11,14,15,18,19,22,23,26,27,30 & TAX 20 OF 24-56N-6W & PT VAC ALLEY
    Tax Annual Amount
    1266

    Utilities

    Utilities
    Cable Available
    Sewer type
    Public Sewer
    Heating system
    Baseboard, Other (Heating), Electric (Heating)
    Water source
    Public
    Water front
    1

    Building Details

    Year built
    1970
    Number of units
    4
    Building materials
    Wood Siding, Frame
    Roof type
    Metal
    Additional Structures
    Storage

    We can help!

    Listing Contact
    Scott Alan Shellman
    Scott Alan Shellman

    Listing agent Scott Alan Shellman License #SP37737

    Listing office Silvercreek Realty Group, LLC 1099 S Wells Street STE 200, Meridian, ID

    Listing date Oct 27, 2025

    MLS# 25-10611 Listing URL

    Copyright © 2026 Coeur d'Alene Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Prime riverfront location in downtown Oldtown with Pend Oreille River and mountain views and river access.
    • High‑potential investment property suitable for multi‑unit housing, tiny homes, or rental homes.
    • Large shop building offers versatile options for indoor storage, garage parking, or other development purposes.
    • Conveniently located within a couple blocks of Oldtown and Newport, WA amenities.
    • Existing rental income from four mobile homes on‑site, with potential for expansion (previously seven units and RV sites).
    • Level building site with public maintained roads, city services, and public water/sewer.

    Overview

    This riverfront investment property is located in downtown Oldtown, Idaho. The level 2.31-acre property offers views of the Pend Oreille River and surrounding mountains, with river access. The site is suitable for multi-unit housing, tiny homes, or rental homes. The property includes a 6,000 square foot shop building that could be used for indoor storage, garage parking, or other purposes. The site benefits from public maintained roads and city services. The seller currently rents out four mobile homes on the property, which previously accommodated seven units, as well as RV sites. The zoning is specified in the provided documents. The property presents an opportunity to create housing in the Oldtown/Newport area.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Mobile home & RV ...

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Gym & Fitness Center Building Supply Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Oldtown
    County
    Bonner
    State
    Idaho
    Longitude
    -117.035842
    Latitude
    48.182697

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    FAQs

    What type of property is this?
    Mobile home & RV park - Incredible riverfront property in Oldtown, ID with development potential.
    Where is this mobile home & rv park located?
    The property is located at 215 N Montana Ave Oldtown, ID.
    What is the asking price?
    The asking price for this property is $999,000.
    What are key features of this property?
    This property features: Prime riverfront location in downtown Oldtown with Pend Oreille River and mountain views and river access.; High‑potential investment property suitable for multi‑unit housing, tiny homes, or rental homes.; Large shop building offers versatile options for indoor storage, garage parking, or other development purposes.
    (208) 651-2230
    We can help!
    Listing Contact
    Scott Alan Shellman
    Scott Alan Shellman
    Real Estate License ID: SP37737
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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    215 N Montana Ave, Oldtown, ID 83822
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