Four-Unit Brick
For Sale
$325,000
503 Gladstone Street, Idaho Falls, ID 83401
Residential Income, Idaho Falls, ID
Property Size2,442 SF
Lot Size0.11 Acres
Price / SF$133.09
Days on Market42
Property Features for 503 Gladstone Street
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning description
General Zoning: Tn-Trad Neigh, Specific Zoning: Idaho Falls-R2-Mixed Res
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 2, Bathroom 3, Basement, Bedroom 1, Bedroom 4, Bathroom 1, Bathroom 4, Bedroom 2, Bedroom 3
Basement
Partially Finished
Subdivision
Capitol Hill-Bon
Elementary school
Dora Erickson Elementary School
Middle school
Taylor View 91JH
High school
Idaho Falls 91HS
Directions
off of Holmes
Standard status
Active
APN
RPA0420023025A
Size
2,442 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
S 66.5' LOTS 25-27, BLOCK 23, CAPITOL HILL SW1/4, SEC 17, T 2N, R 38
Tax Annual Amount
1441
Legal Description
S 66.5' LOTS 25-27, BLOCK 23, CAPITOL HILL SW1/4, SEC 17, T 2N, R 38
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Water source
Public
Building Details
Year built
1935
Number of units
4
Building materials
Brick
Listing Agency:
Silvercreek Realty Group
(208) 523-6111
Listed By:
Jade Robinson · License #SP51461
(208) 523-6111
Added: Jul 14
Changed: Aug 24
Last Checked: Aug 24 at 11:06PM
MLS# 2187475
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 four-unit multifamily property contains four one-bedroom, one-bathroom residences within a 2,442-square-foot building. Constructed in 1935 with brick construction, the property is heated by natural gas and includes a basement. Public water and public sewer serve the site.
The property occupies 0.11 acres in Idaho Falls, near schools, parks, shopping, and everyday amenities. Its established residential setting and four-unit configuration provide a defined multifamily format for an owner or operator evaluating a small rental property.
The property occupies 0.11 acres in Idaho Falls, near schools, parks, shopping, and everyday amenities. Its established residential setting and four-unit configuration provide a defined multifamily format for an owner or operator evaluating a small rental property.
Key Highlights
- Four one‑bedroom, one‑bathroom units
- 2,442 square feet of building area
- 0.11‑acre parcel in Idaho Falls
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
$20,569
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
6.33%
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%
$411,380
$411.4K
Cap Rate 7%
$293,843
$293.8K
Cap Rate 9%
$228,544
$228.5K
Market Conditions
NOI Build-Up for 2,442 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
$30.8K $12.60/SF
− Vacancy
−$1.4K −$0.57/SF
EGI
$29.4K $12.03/SF
− OpEx
−$8.8K −$3.61/SF
NOI
$20.6K $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%
$411,380
Cap Rate 7%
$293,843
Cap Rate 9%
$228,544
Alternative Uses
Best Use
Multifamily LT 5
$293.8K
$257.1K – $342.8K
NOI $20,569 @ 7.0% cap · market cap 6.33%
Second Best
Apartment 5plus
$265.8K
$232.6K – $310.1K
NOI $18,606 @ 7.0% cap · market cap 5.72%
Theoretical Best
Office A
$539.5K
$472.1K – $629.5K
NOI $37,767 @ 7.0% cap · market cap 11.62%
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
831
Businesses Nearby
Explore this area
Business Placement
Demographics for 83401, ID
47,114
Population
16,026
Households
2.9
Avg Household Size
31
Median Age
30%
College-Educated
90%
High-School Grad
197.3 sq mi
ZIP Area
239
Density / Sq Mi
$75,870
Median Household Income
$35,293
Median Earnings
$1,132
Median Rent
$307,700
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 one-bedroom residences with public water and sewer in Idaho Falls.
Where is this quadplex located?
The property is located at 503 Gladstone Street Idaho Falls, ID.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Four one‑bedroom, one‑bathroom units; 2,442 square feet of building area; 0.11‑acre parcel in Idaho Falls
