Four-Unit Quadplex with Private
For Sale
$517,000
133 E 21st Street, Idaho Falls, ID 83404
Residential Income, Idaho Falls, ID
Property Size3,800 SF
Lot Size0.22 Acres
Price / SF$136.05
Days on Market37
Property Features for 133 E 21st Street
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning description
General Zoning: Commercial Rg-Com, Specific Zoning: Idaho Falls-R1 Residential
Bedrooms
6
Bathrooms
5
Full bathrooms
5
Rooms
Bathroom 5, Bathroom 2, Bedroom 6, Bathroom 4, Bedroom 2, Basement, Bedroom 3, Bedroom 5, Bathroom 3, Bedroom 4, Bathroom 1, Bedroom 1
Parking
2
Parking features
Garage, Off Street
Patio and Porch features
Deck
Interior features
Newly Renovated, Storage
Fireplace
1
Basement
Finished, Daylight
Appliances
Dishwasher, Dryer, Microwave, Refrigerator, Oven, Washer
Subdivision
Brodbecks-Bon
Elementary school
Longfellow 91EL
Middle school
Taylor View 91JH
High school
Idaho Falls 91HS
Directions
From I-15, take Exit 118 for Broadway St. Head east on Broadway, then turn right (south) on Yellowstone Ave. Turn left (east) onto E 21st St. Property is located at 133 E 21st on the north side of the street.
Standard status
Active
APN
RPA03200
Size
3,800 SF
Lot size
0.22 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
Lots 31-33, Block 13 BrodbecksNE 1/4, SEC 30 TN, R 38 Units 2
Tax Annual Amount
3713
Legal Description
Lots 31-33, Block 13 BrodbecksNE 1/4, SEC 30 TN, R 38 Units 2
Utilities
Sewer type
Public Sewer
Heating system
Fireplace(s), Central, Forced Air, Natural Gas, Ductless (Heating), Electric (Heating)
Cooling system
Central Air, Zoned, Ductless
Water source
Public
Amenities
community laundry room
Building Details
Year built
1975
Number of units
4
Building materials
Block, Frame, Brick, Metal Siding, Stone, Vinyl Siding
Roof type
Composition
Additional Structures
Storage
Listing Agency:
Silvercreek Realty Group
(208) 523-6111
Listed By:
Steven Phaysounlaphong
(208) 523-6111
Added: Jul 17
Changed: Aug 19
Last Checked: Aug 22 at 1:06AM
MLS# 2186082
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 quadplex features two dwellings on one lot, with each unit offering its own private entrance. The front home includes an upper 2-bedroom unit with an additional finished bonus/flex room, plus a recently remodeled basement 2-bedroom, 2-bath layout. The second dwelling provides 1-bedroom upper and lower units, with the lower unit recently remodeled and including an additional finished flex room for extra usable living space. The property is serviced by Idaho Falls Power, and tenants pay their own utilities and maintenance. Interior features include storage and a mix of heated living spaces, with multiple units described with fireplaces.
Recent improvements include a new community laundry room equipped with two washers and two dryers, and the back dwelling also includes its own washer and dryer. Outdoor convenience is supported by two separate fenced yards and separate driveways for each dwelling, along with a deck and off-street parking with a garage.
Built in 1975, the property sits on a 0.22-acre lot with 3,800 square feet of total building area, with public water and public sewer, and a composition roof.
Recent improvements include a new community laundry room equipped with two washers and two dryers, and the back dwelling also includes its own washer and dryer. Outdoor convenience is supported by two separate fenced yards and separate driveways for each dwelling, along with a deck and off-street parking with a garage.
Built in 1975, the property sits on a 0.22-acre lot with 3,800 square feet of total building area, with public water and public sewer, and a composition roof.
Key Highlights
- Four rental units across two dwellings on one lot with private entrances for every unit
- Fully occupied investment property with a history of consistent occupancy
- New community laundry room with two washers and two dryers; back dwelling includes its own washer and dryer
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
$32,008
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
6.19%
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%
$640,160
$640.2K
Cap Rate 7%
$457,257
$457.3K
Cap Rate 9%
$355,644
$355.6K
Market Conditions
NOI Build-Up for 3,800 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
$47.9K $12.60/SF
− Vacancy
−$2.2K −$0.57/SF
EGI
$45.7K $12.03/SF
− OpEx
−$13.7K −$3.61/SF
NOI
$32.0K $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%
$640,160
Cap Rate 7%
$457,257
Cap Rate 9%
$355,644
Alternative Uses
Best Use
Multifamily LT 5
$457.3K
$400.1K – $533.5K
NOI $32,008 @ 7.0% cap · market cap 6.19%
Second Best
Apartment 5plus
$413.6K
$361.9K – $482.5K
NOI $28,952 @ 7.0% cap · market cap 5.60%
Theoretical Best
Office A
$839.6K
$734.6K – $979.5K
NOI $58,769 @ 7.0% cap · market cap 11.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
355
Businesses Nearby
Explore this area
Business Placement
Demographics for 83404, ID
25,491
Population
9,606
Households
2.7
Avg Household Size
37
Median Age
35%
College-Educated
92%
High-School Grad
25.0 sq mi
ZIP Area
1,020
Density / Sq Mi
$79,211
Median Household Income
$36,802
Median Earnings
$1,013
Median Rent
$355,200
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 - Quadplex with four fully occupied units, private entrances, and separate fenced yards.
Where is this quadplex located?
The property is located at 133 E 21st Street Idaho Falls, ID.
What is the asking price?
The asking price for this property is $517,000.
What are key features of this property?
This property features: Four rental units across two dwellings on one lot with private entrances for every unit; Fully occupied investment property with a history of consistent occupancy; New community laundry room with two washers and two dryers; back dwelling includes its own washer and dryer
