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    Caldwell Triplex with Income Potential Title is generated by Realmo AI

    2803 College Ave, Caldwell, ID 83605

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    For Sale
    $599,900

    MULTI_FAMILY - Caldwell, ID

    Property size:
    2,304 SF
    Price / SF:
    $260/SF
    Added:
    Feb 25, 2026
    Days on Market:
    98
    Last Refresh:
    Jun 3 at 3:06 am

    Property Features for 2803 College Ave

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    6
    Bathrooms
    3
    Rooms
    Bedroom 1, Bedroom 2, Bedroom 6, Bedroom 5, Bathroom 3, Bathroom 2, Bathroom 1, Bedroom 3, Bedroom 4
    Parking
    3
    Appliances
    Disposal (All Units), Stove/Range (All Units), Refrigerator (All Units)
    Standard status
    Active
    APN
    03872010 0
    Size
    2,304 SF

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    34-4N-3W NE MOUNTAIN VIEW ADD TX 24511 IN LT 1, 2 & 3 BLK 81
    Tax Annual Amount
    3228

    Utilities

    Heating system
    Natural Gas, Forced Air
    Cooling system
    Central Air

    Building Details

    Year built
    1994
    Number of units
    3
    Flooring type
    Laminate
    Building materials
    Frame, Wood Siding
    Roof type
    Composition

    We can help!

    Listing Contact
    Julie Skogsberg

    Listing agent Julie Skogsberg License #24040

    Listing office Peterson & Associates REALTORS, LLC 919 12th Ave S, Nampa, ID

    Listing date Feb 25, 2026

    MLS# 98975918 Listing URL

    Copyright © 2026 Intermountain 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

    • Strong cash flow potential in a prime Caldwell location.
    • Turn‑key triplex with all major maintenance up to date.
    • New roof (2025) and two units with new HVAC systems (2022).
    • One vacant unit offers immediate income potential or owner‑occupancy.
    • Each unit has a fully fenced private yard.
    • Convenient location with easy access to I‑84, schools, shopping, dining, and entertainment.

    Overview

    This turn-key triplex is located in Caldwell, Idaho, offering strong cash flow potential. Recent updates include a new roof planned for 2025 and two units with new HVAC systems installed in 2022. The property is well-maintained with all major maintenance up to date. Each unit features laminate flooring, fresh interior paint, refrigerators, and washer dryer hookups. All three units have similar layouts. One unit is currently vacant, offering an immediate opportunity to increase income or for owner occupancy. Each unit has a fully fenced private yard. The property is conveniently located with easy access to I-84 and close to schools, shopping, dining, and entertainment. This property is a solid investment opportunity in a high-demand rental area. The property size is 2304 square feet and is located in Canyon County.

    Local Financial Insights For Apartment 5plus

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $62.5k $27.12
    − Vacancy −$2.3k −$0.99
    EGI $60.2k $26.13
    − OpEx −$27.1k −$11.76
    NOI $33.1k $14.37
    2,304 SF · lease $27.12/SF/yr · vacancy 3.66% · expense 45.00%

    Alternative Uses

    Best Use
    Apartment 5plus
    $473.0K
    $413.9K – $551.8K (±1% cap)
    NOI $33,109 @ 7.0% cap · market cap 5.52%
    Second Best
    Multifamily LT 5
    $197.5K
    $172.8K – $230.4K (±1% cap)
    NOI $13,823 @ 7.0% cap · market cap 2.30%
    Theoretical Best
    Office A
    $613.7K
    $537.0K – $716.0K (±1% cap)
    NOI $42,957 @ 7.0% cap · market cap 7.16%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Ascension Junkie (Bike/Boat/Book/etc) Store

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Caldwell
    County
    Canyon
    State
    Idaho
    Longitude
    -116.6802722
    Latitude
    43.645116

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    FAQs

    What type of property is this?
    Triplex - Turn-key triplex in prime location with strong cash flow potential.
    Where is this triplex located?
    The property is located at 2803 College Ave Caldwell, ID.
    What is the asking price?
    The asking price for this property is $599,900.
    What are key features of this property?
    This property features: Strong cash flow potential in a prime Caldwell location.; Turn‑key triplex with all major maintenance up to date.; New roof (2025) and **two units with new HVAC systems (2022)**.
    (208) 989-1861
    We can help!
    Listing Contact
    Julie Skogsberg
    Real Estate License ID: 24040
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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.

    More about this property
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