Quadplex with Updated
For Sale
$619,000
413 & 415 3rd Ave N, Twin Falls, ID 83301
Residential Income, Twin Falls, ID
Property Size3,135 SF
Lot Size0.21 Acres
Price / SF$197.45
Days on Market139
Property Features for 413 & 415 3rd Ave N
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
R-6 Residential Multi-Hou
Bedrooms
5
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 1, Bedroom 5, Bathroom 3, Bedroom 4, Bathroom 1, Bedroom 3, Bathroom 2, Bathroom 4, Bedroom 2
Parking
5
Appliances
Disposal (No Units), Stove/Range (All Units), Washer/Dryer (No Units)
Subdivision
0 Not Applic.
Lot features
10000 S F - .49, Sidewalks
Elementary school
Lincoln
Middle school
South Hills
High school
Canyon Ridge
Elementary school district
Twin Falls School District #411
Middle school district
Twin Falls School District #411
High school district
Twin Falls School District #411
Directions
Addison to Derkies St N, south to 3rd, east to house.
Standard status
Active
APN
RPT0001068006AA
Size
3,135 SF
Lot size
0.21 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Twin Falls Townsite Final & Amd All Lot 6; Nw 1/2 Lot 7 Block 68 (16-10-17)
Tax Annual Amount
2524
Legal Description
Twin Falls Townsite Final & Amd All Lot 6; Nw 1/2 Lot 7 Block 68 (16-10-17)
Utilities
Heating system
Forced Air, Natural Gas
Cooling system
Central Air
Building Details
Year built
1937
Roof type
Composition
Listing Agency:
Berkshire Hathaway HomeServices Idaho Homes & Properties · Prudential Real Estate
(208) 733-5336
Listed By:
Ben Ramirez · License #SP48512
(208) 420-3933
Added: Apr 23
Changed: Sep 2
Last Checked: Sep 8 at 7:06PM
MLS# 98983302
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.
Investment Insights
Based on property information with market context.
This four-unit residential property contains 3,135 square feet on a 0.21-acre lot and was built in 1937. The improvements include composition roofing, forced-air heating with natural gas, and central air conditioning. Appliances include stoves and ranges in all units, along with a disposal and washer/dryer equipment serving the property without unit-specific designation.
Located at 413 & 415 3rd Ave N in Twin Falls, the property is positioned near downtown attractions, dining, and activities. Mature trees and established landscaping contribute to the site's residential setting. The front home has a newer gas furnace and central AC, providing updated mechanical features within part of the property.
Located at 413 & 415 3rd Ave N in Twin Falls, the property is positioned near downtown attractions, dining, and activities. Mature trees and established landscaping contribute to the site's residential setting. The front home has a newer gas furnace and central AC, providing updated mechanical features within part of the property.
Key Highlights
- Four‑unit property with 3,135 square feet of building area
- 0.21‑acre lot at 413 & 415 3rd Ave N, Twin Falls
- Built in 1937 with composition roofing
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$28,921
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.67%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$578,420
$578.4K
Cap Rate 7%
$413,157
$413.2K
Cap Rate 9%
$321,344
$321.3K
Market Conditions
NOI Build-Up for 3,135 SF
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.
Gross rent
$43.3K $13.80/SF
− Vacancy
−$1.9K −$0.62/SF
EGI
$41.3K $13.18/SF
− OpEx
−$12.4K −$3.95/SF
NOI
$28.9K $9.23/SF
Area
Twin Falls County, ID
Vacancy
4.50%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$578,420
Cap Rate 7%
$413,157
Cap Rate 9%
$321,344
Alternative Uses
Best Use
Multifamily LT 5
$413.2K
$361.5K – $482.0K
NOI $28,921 @ 7.0% cap · market cap 4.67%
Second Best
Apartment 5plus
$371.7K
$325.3K – $433.7K
NOI $26,021 @ 7.0% cap · market cap 4.20%
Theoretical Best
Specialty Retail
$719.2K
$629.3K – $839.1K
NOI $50,343 @ 7.0% cap · market cap 8.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,439
Businesses Nearby
Explore this area
Business Placement
Demographics for 83301, ID
60,789
Population
24,466
Households
2.5
Avg Household Size
35
Median Age
24%
College-Educated
90%
High-School Grad
295.7 sq mi
ZIP Area
206
Density / Sq Mi
$62,388
Median Household Income
$36,276
Median Earnings
$1,011
Median Rent
$290,600
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Four-unit residential income property with mature landscaping, newer mechanical equipment, and convenient access to downtown Twin Falls.
Where is this quadplex located?
The property is located at 413 & 415 3rd Ave N Twin Falls, ID.
What is the asking price?
The asking price for this property is $619,000.
What are key features of this property?
This property features: Four‑unit property with 3,135 square feet of building area; 0.21‑acre lot at 413 & 415 3rd Ave N, Twin Falls; Built in 1937 with composition roofing
