Three-Unit Residential Income
For Sale
$840,000
311 North Handy Street, Post Falls, ID 83854
Tri-plex offers three 3BR, 2BA units with fenced backyards, attached garages, and newer interior finishes in units A and B.
Property Size3,168 SF
Price / SF$265.15
Days on Market517
Property Features for 311 North Handy Street
General Information
Standard status
Active
Size
3,168 SF
Total Parking Spaces
3
Property subtype
MultiFamily / Multi Family
Additional Details
Fenced Yard
Yes
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$5,091
Amenities
Wall Unit(s), Yes
Cadet, Electric, Yes
Crawl Space
Concrete
Cable Internet Available, High Speed Internet, Main Floor Utilities, Cable TV, Wall Unit(s)
MLS
0.0
Comp Shingle
Partial
Vinyl Siding
Covered Porch, Curbs, Patio
Paved
Curbs
Concrete Perimeter
Vinyl Siding, Frame
Covered Porch, Patio
Building Details
Year Built
2004
Stories
2
Listing Agency:
Treaty Rock Realty
(208) 660-0403
Listed By:
Darlene Lynn Berry · License #SP27307
(208) 660-0403
Source:
Compass
Added: Apr 1, 2025
Changed: Aug 27
Last Checked: Aug 29 at 2:50PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Treaty Rock Realty
Investment Insights
Based on property information with market context.
This tri-plex residential income property consists of three 3-bedroom, 2-bath units. Units include fenced backyards, sprinkler systems, and each unit has a 1-car attached garage. Units A and B feature newer flooring and paint, and the roof is approximately 2 years old.
The property is located near a park, the Centennial Trail, and River access.
As presented, the building is suited for buyers seeking a three-unit rental configuration with consistent unit amenities including outdoor space and attached parking.
The property is located near a park, the Centennial Trail, and River access.
As presented, the building is suited for buyers seeking a three-unit rental configuration with consistent unit amenities including outdoor space and attached parking.
Key Highlights
- Tri‑plex built in 2004 with three 3BR, 2BA units
- Units A and B have newer interior finishes, including flooring and paint
- Each unit features a fenced back yard and a sprinkler system
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
$28,920
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
3.44%
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%
$578,400
$578.4K
Cap Rate 7%
$413,143
$413.1K
Cap Rate 9%
$321,333
$321.3K
Market Conditions
NOI Build-Up for 3,168 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
$43.7K $13.80/SF
− Vacancy
−$2.4K −$0.76/SF
EGI
$41.3K $13.04/SF
− OpEx
−$12.4K −$3.91/SF
NOI
$28.9K $9.13/SF
Area
Kootenai County, ID
Vacancy
5.50%
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%
$578,400
Cap Rate 7%
$413,143
Cap Rate 9%
$321,333
Alternative Uses
Best Use
Multifamily LT 5
$413.1K
$361.5K – $482.0K
NOI $28,920 @ 7.0% cap · market cap 3.44%
Second Best
Apartment 5plus
$382.3K
$334.5K – $446.0K
NOI $26,759 @ 7.0% cap · market cap 3.19%
Theoretical Best
Office A
$687.2K
$601.3K – $801.8K
NOI $48,105 @ 7.0% cap · market cap 5.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
896
Businesses Nearby
Explore this area
Business Placement
Demographics for 83854, ID
49,040
Population
20,440
Households
2.4
Avg Household Size
37
Median Age
23%
College-Educated
92%
High-School Grad
77.6 sq mi
ZIP Area
632
Density / Sq Mi
$72,820
Median Household Income
$41,223
Median Earnings
$1,311
Median Rent
$433,700
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?
Triplex - Tri-plex offers three 3BR, 2BA units with fenced backyards, attached garages, and newer interior finishes in units A and B.
Where is this triplex located?
The property is located at 311 North Handy Street Post Falls, ID.
What is the asking price?
The asking price for this property is $840,000.
What are key features of this property?
This property features: Tri‑plex built in 2004 with three 3BR, 2BA units; Units A and B have newer interior finishes, including flooring and paint; Each unit features a fenced back yard and a sprinkler system
