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    Multifamily Property with Highway Frontage Title is generated by Realmo AI

    355 & 359 Highway 55, Horseshoe Bend, ID 83629

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    Claim this Listing
    For Sale
    $415,000

    MULTI_FAMILY - Horseshoe Bend, ID

    Property size:
    2,200 SF
    Lot size:
    1.00 Acre
    Price / SF:
    $188/SF
    Added:
    May 15, 2026
    Days on Market:
    9
    Last Refresh:
    May 23 at 10:06 am

    Property Features for 355 & 359 Highway 55

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    5
    Bathrooms
    3
    Rooms
    Bedroom 4, Bathroom 1, Bedroom 1, Bathroom 2, Bedroom 2, Bedroom 5, Bedroom 3, Bathroom 3
    Parking
    10
    Parking features
    RV, Carport
    Standard status
    Active
    APN
    RPH0003001009A and RPH0003001008A
    Size
    2,200 SF
    Lot size
    1.00 Acre

    Taxes and HOA fees

    Tax Year
    2024
    Tax Description
    See Exhibit A
    Tax Annual Amount
    2177

    Utilities

    Sewer type
    Septic Tank
    Heating system
    Oil, Propane (Heating)
    Cooling system
    Central Air, Evaporative Cooling
    Water source
    Well

    Building Details

    Year built
    1971
    Number of units
    2
    Building materials
    Frame
    Roof type
    Composition, Metal

    We can help!

    Listing Contact
    Steve Thiessen
    Steve Thiessen

    Listing agent Steve Thiessen License #AB41683

    Listing office Silvercreek Realty Group 1099 S. Wells, Meridian, ID

    Listing date May 15, 2026

    MLS# 98986407 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

    • 1 Acre property with two homes on two parcels.
    • Enjoy 360 feet of Hwy 55 frontage with mountain views.
    • Versatile property suitable for owner‑occupants or investors.
    • Includes a 672sf, 2 bed, 1 bath stick built home.
    • Also includes a 1288sf mobile home on a foundation.
    • Close to outdoor recreation: Payette River, Treasure Valley, Boise County, and Valley County.

    Overview

    This multifamily property features two homes situated on two parcels, totaling 1 acre. The property includes 360 feet of highway frontage and mountain views. Located in close proximity to outdoor recreational opportunities, including the Payette River, Treasure Valley, Boise County, and Valley County. The property at 355 Highway 55 is a 672 square foot stick-built home with 2 bedrooms and 1 bathroom. The property at 359 Highway 55 features a 1288 square foot mobile home on a foundation. A 2-car garage and carport are situated on 0.66 acres. Pressurized irrigation is provided via a shared well. This property offers potential for both owner-occupants and investors.

    Financial Insights

    Value Estimation Calculated for Apartment 5plus

    Conservative
    $240.9K
    NOI $21,680 @ 9.00% cap · cautious / downside scenario
    Moderate
    $309.7K
    NOI $21,680 @ 7.00% cap · market / base-case scenario
    Aggressive
    $433.6K
    NOI $21,680 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    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.
         Calculated for Apartment 5plus

    Component $ $/SF
    Gross rent $41.7k $18.96
    − Vacancy −$2.3k −$1.04
    EGI $39.4k $17.92
    − OpEx −$17.7k −$8.06
    NOI $21.7k $9.85
    2,200 SF · lease $18.96/SF/yr · vacancy 5.50% · expense 45.00%

    Alternative Use Scenarios

    Best Use
    Apartment 5plus
    $309.7K
    $271.0K – $361.3K (±1% cap)
    NOI $21,680 @ 7.0% cap · market cap 5.22%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Office A
    $556.5K
    $487.0K – $649.3K (±1% cap)
    NOI $38,956 @ 7.0% cap · market cap 9.39%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Multifamily properties

    Suggested Use

    Restaurant Real Estate Agency Building Supply Big Box & Wholesale Store Auto Repair Shop Auto Parts Store Gym & Fitness Center Kitchen & Bath Showroom Cafe & Coffee Shop Daycare Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Horseshoe Bend
    County
    Boise
    State
    Idaho
    Longitude
    -116.200282
    Latitude
    43.905407

    Nearby Similar for Sale

    • $3,300,000
      2,100 SF

      RV Park Investment Opportunity

      Value-add RV park with rental spots and on-site homes.
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      View Details
    • $809,000
      3,478 SF

      Updated Duplex with Mountain Views

      Updated duplex with mountain views, suitable for multi-family or rental.
      25 Horseshu Vue Circle, Horseshoe Bend, ID 83629
      View Details
    • $749,900
      3,700 SF

      Duplex and Mobile Home Park

      Duplex plus five-space mobile home park with seven income streams.
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      View Details

    FAQs

    What type of property is this?
    Multifamily property - Two homes on 1 acre with highway frontage.
    Where is this multifamily property located?
    The property is located at 355 & 359 Highway 55 Horseshoe Bend, 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: 1 Acre property with two homes on two parcels.; Enjoy **360 feet of Hwy 55 frontage with mountain views.**; Versatile property suitable for owner‑occupants or investors.
    (208) 598-5032
    We can help!
    Listing Contact
    Steve Thiessen
    Steve Thiessen
    Real Estate License ID: AB41683
    Request Owner's contact information
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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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