New Idaho Falls
3608 N Felix Way Idaho Falls, ID 83401
For Sale
$850,000
Pending
MULTI_FAMILY - Idaho Falls, ID
Property Size4,712 SF
Lot Size0.31 Acres
Days on Market109
Property Features for 3608 N Felix Way
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Property condition
- Under Construction
- Bedrooms
- 3
- Bathrooms
- 2
- Rooms
- Bedroom 1, Bedroom 3, Bedroom 2, Bathroom 2, Bathroom 1
- Appliances
- Common Water Heaters, Dishwasher, Microwave, Refrigerator, Oven, Stove
- Standard status
- Pending
- Size
- 4,712 SF
- Lot size
- 0.31 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Description
- L15 B6 Freedom Acres Div 3
- Tax Annual Amount
- 0
Utilities
- Sewer type
- Public Sewer
- Heating system
- Radiant, Electric (Heating)
- Water source
- Public
Building Details
- Year built
- 2026
- Number of units
- 4
- Flooring type
- Carpet - Full, Carpet
- Building materials
- Stone, Vinyl Siding
Listing Agency:
Keller Williams Realty East Idaho
(208) 529-8888
Listed By:
Ryan Webster · License #SP30269
(208) 529-8888
Added: Apr 7
Changed: Jun 30
Last Checked: Jul 24 at 6:06PM
MLS# 2184656
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.
This multifamily property, located in Idaho Falls, ID, presents a great investment opportunity. The new fourplex is situated in Freedom Acres. The property is currently under construction with an estimated completion date of August 2026. The building has a total area of 4712 square feet and is located on a 0.31-acre lot. The units feature granite counters, an open concept design, and spacious bedrooms. The location provides convenient access to Idaho Falls, Rexburg, Rigby, Ririe, and Swan Valley.
Key Highlights
- New 4‑plex under construction with estimated completion date of August 2026
- Open‑concept layout with granite counters
- Vinyl siding and stone construction materials
Financial Insights For Multifamily LT 5
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 | $59.4k | $12.60 |
| − Vacancy | −$2.7k | −$0.57 |
| EGI | $56.7k | $12.03 |
| − OpEx | −$17.0k | −$3.61 |
| NOI | $39.7k | $8.42 |
4,712 SF · lease $12.60/SF/yr · vacancy 4.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$567.0K
$496.1K – $661.5K
NOI $39,690 @ 7.0% cap · market cap 4.67%
Second Best
Apartment 5plus
$512.9K
$448.8K – $598.4K
NOI $35,901 @ 7.0% cap · market cap 4.22%
Theoretical Best
Office A
$1.04M
$910.9K – $1.21M
NOI $72,874 @ 7.0% cap · market cap 8.57%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Quadplexes
FAQs
What type of property is this?
Quadplex - New fourplex under construction, estimated completion August 2026.
Where is this quadplex located?
The property is located at 3608 N Felix Way Idaho Falls, ID.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: New 4‑plex under construction with estimated completion date of August 2026; Open‑concept layout with granite counters; Vinyl siding and stone construction materials
