Renovated Duplex With Flex
For Sale
$515,000
492 G Street, Idaho Falls, ID 83402
MULTI_FAMILY - Idaho Falls, ID
Property Size3,061 SF
Lot Size0.17 Acres
Price / SF$168.25
Days on Market9
Property Features for 492 G Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
General Zoning: If Residence 1, Specific Zoning: Idaho Falls-Tn-Traditional Nbh
Bedrooms
3
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bathroom 3, Bathroom 2, Bedroom 2, Bedroom 3, Bedroom 1, Basement
Parking
1
Parking features
Garage
Interior features
Loft, Sunroom
Exterior features
Lighting
Fireplace
1
Basement
Finished, Partial
Appliances
Dishwasher, Refrigerator, Oven, Stove
Subdivision
Original Townsite
Lot features
Concrete Curbing, Established Lawn, Many Trees, Corner Lot
Elementary school
Bush 91EL
Middle school
Eagle Rock 91JH
High school
Skyline 91HS
Directions
Memorial drive east on G st to property
Standard status
Active
APN
RPA1740059001A
Size
3,061 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LOT 1, W 4' LOT 2, BLOCK 59, ORIGINAL TOWN SW1/4, SEC 18, T 2N, R 38
Tax Annual Amount
2130
Legal Description
LOT 1, W 4' LOT 2, BLOCK 59, ORIGINAL TOWN SW1/4, SEC 18, T 2N, R 38
Utilities
Sewer type
Public Sewer
Heating system
Fireplace(s), Natural Gas, Forced Air
Cooling system
Ductless
Water source
Public
Building Details
Year built
1915
Number of units
3
Flooring type
Hardwood
Building materials
Frame, Hardboard/Composition, Stucco
Listing Agency:
Keller Williams Realty East Idaho
(208) 529-8888
Listed By:
The Perfect Home Team · License #47250
(208) 529-8888
Added: Aug 4
Changed: Aug 6
Last Checked: Aug 12 at 5:06PM
MLS# 2188291
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 duplex property combines a renovated 1915 historic home with a separate one-bedroom apartment and a 2020-built heated flex building. The property totals 3,061 square feet on 0.1736 acres. The flex building includes 1,250 square feet, a full kitchen, full bathroom, loft bedroom, and garage, creating additional space for a workshop, studio, hobby area, home business, or clubhouse. The main residence includes hardwood flooring, a sunroom, basement, fireplace, forced-air and natural-gas heating, and ductless cooling.
Located two blocks from downtown Idaho Falls, the property is also near the Farmers Market and the Greenbelt. Public water and public sewer serve the site, while the separate apartment provides additional private living space within the overall property configuration.
Located two blocks from downtown Idaho Falls, the property is also near the Farmers Market and the Greenbelt. Public water and public sewer serve the site, while the separate apartment provides additional private living space within the overall property configuration.
Key Highlights
- 3,061‑square‑foot duplex property on 0.1736 acres
- 2020‑built heated flex building with 1,250 square feet
- Flex building includes a full kitchen, full bathroom, loft bedroom, and garage
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
$25,783
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
5.01%
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%
$515,660
$515.7K
Cap Rate 7%
$368,329
$368.3K
Cap Rate 9%
$286,478
$286.5K
Market Conditions
NOI Build-Up for 3,061 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
$38.6K $12.60/SF
− Vacancy
−$1.7K −$0.57/SF
EGI
$36.8K $12.03/SF
− OpEx
−$11.0K −$3.61/SF
NOI
$25.8K $8.42/SF
Area
Bonneville County, ID
Vacancy
4.50%
Lease Rate
$12.60 /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%
$515,660
Cap Rate 7%
$368,329
Cap Rate 9%
$286,478
Alternative Uses
Best Use
Multifamily LT 5
$368.3K
$322.3K – $429.7K
NOI $25,783 @ 7.0% cap · market cap 5.01%
Second Best
Apartment 5plus
$333.2K
$291.5K – $388.7K
NOI $23,322 @ 7.0% cap · market cap 4.53%
Theoretical Best
Office A
$676.3K
$591.8K – $789.0K
NOI $47,340 @ 7.0% cap · market cap 9.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,452
Businesses Nearby
Explore this area
Business Placement
Demographics for 83402, ID
28,452
Population
11,983
Households
2.4
Avg Household Size
34
Median Age
31%
College-Educated
92%
High-School Grad
171.0 sq mi
ZIP Area
166
Density / Sq Mi
$72,064
Median Household Income
$35,593
Median Earnings
$904
Median Rent
$301,400
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?
Duplex - Renovated historic residence with a separate apartment and a heated accessory building offering flexible workspace.
Where is this duplex located?
The property is located at 492 G Street Idaho Falls, ID.
What is the asking price?
The asking price for this property is $515,000.
What are key features of this property?
This property features: 3,061‑square‑foot duplex property on 0.1736 acres; 2020‑built heated flex building with 1,250 square feet; Flex building includes a full kitchen, full bathroom, loft bedroom, and garage
