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    318 S 3rd W Rexburg, ID 83440

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    For Sale
    $415,000

    MULTI_FAMILY - Rexburg, ID

    Property size:
    1,456 SF
    Lot size:
    0.17 Acres
    Added:
    Mar 30, 2026
    Days on Market:
    21
    Last Refresh:
    Apr 19 at 12:06 pm

    Property Features for 318 S 3rd W

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    4
    Bathrooms
    2
    Rooms
    Bathroom 2, Basement, Bathroom 1, Bedroom 1, Bedroom 2, Bedroom 4, Bedroom 3
    Parking
    1
    Parking features
    Off Street
    Interior features
    Newly Renovated
    Fireplace
    1
    Basement
    Finished
    Appliances
    Separate Water Heaters, Dryer, Microwave, Refrigerator, Oven, Washer, Dishwasher, Stove
    Standard status
    Active
    APN
    RPR00SE0110970
    Size
    1,456 SF
    Lot size
    0.17 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Description
    SOUTHEND ADDITION TO REXBURG TAX 4365 LOT 1 BLK 11
    Tax Annual Amount
    1586

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Electric (Heating), Baseboard, Fireplace(s)
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1976
    Number of units
    2
    Flooring type
    Hardwood
    Building materials
    Lap Siding
    Roof type
    Composition

    We can help!

    Listing Contact
    The Nelson Group

    Listing agent The Nelson Group

    Listing office Keller Williams Realty East Idaho 3525 Merlin Drive, Idaho Falls, ID

    Listing date Mar 30, 2026

    MLS# 2182396 Listing URL

    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.

    Overview

    Rexburg Duplex Near BYU-Idaho

    Located two blocks from Brigham Young University-Idaho and one block from Porter Park in Rexburg, this duplex at 318 S 3rd W offers an investment opportunity in a high-demand rental area. The property features two 2-bedroom, 1-bath units, both currently occupied. Each unit has separate metering, entrances, and water heaters. Recent upgrades in 2024 include solar panels, a new roof, updated windows, and new heating and cooling units. The interior features fresh paint, several new windows, original hardwood floors in two upstairs bedrooms, and new flooring in the basement unit. All appliances, including washers and dryers, are included. The property is situated on a 0.173-acre lot and has a total size of 1456 square feet. Located in Madison County, this property is an easy-to-manage, easy-to-rent property in a prime Rexburg location.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Rexburg
    County
    Madison
    State
    Idaho
    Longitude
    -111.7927537
    Latitude
    43.8193106

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    FAQs

    What type of property is this?
    Duplex - Turnkey duplex investment property near BYU-Idaho and Porter Park.
    Where is this duplex located?
    The property is located at 318 S 3rd W Rexburg, ID.
    What is the asking price?
    The asking price for this property is $415,000.
    What are key features of this property?
    This property features: Prime location: Two blocks from BYU‑Idaho and one block from Porter Park, ideal for rentals.; Turnkey duplex: Two 2‑bedroom, 1‑bath units, both currently occupied.; Substantial 2024 upgrades: New roof, updated windows, new heating/cooling units, and solar panels.
    (208) 529-8888
    We can help!
    Listing Contact
    The Nelson Group
    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.

    More about this property
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