Six-Unit Apartment
For Sale
$799,900
2406 Indiana Ave, Caldwell, ID 83605
Single-level property with one-bedroom units, full kitchens, living areas, and washer/dryer hookups.
Property Size4,080 SF
Price / SF$196.05
Days on Market39
Property Features for 2406 Indiana Ave
General Information
Standard status
Active
Size
4,080 SF
Total Parking Spaces
6
Property subtype
Multi-Family
Units
Unit Mix
6 x 1BR/1BA
Multifamily Units
6
Additional Details
Sprinkler System
Yes
Amenities
washer/dryer hookups
Building Details
Year Built
1975
Stories
1
Listing Agency:
Homes of Idaho
Listed By:
Ashley Kaiser, William Kaiser · License #SP48438
(208) 904-8556
Source:
208doors
Added: Aug 30
Changed: Sep 11
Last Checked: Oct 5 at 8:52PM
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 Homes of Idaho
Investment Insights
Based on property information with market context.
This 4,080-square-foot, single-level apartment building contains six one-bedroom, one-bathroom units. Each residence includes a full kitchen, living area, and washer/dryer hookups, while three units have been remodeled. The property also includes six dedicated off-street parking spaces.
Located at 2406 S Indiana Ave in Caldwell, the property is within walking distance of the College of Idaho campus. A full sprinkler system and irrigation water serve the site, adding established functional infrastructure to the apartment improvements.
Located at 2406 S Indiana Ave in Caldwell, the property is within walking distance of the College of Idaho campus. A full sprinkler system and irrigation water serve the site, adding established functional infrastructure to the apartment improvements.
Key Highlights
- Six one‑bedroom, one‑bathroom apartment units
- 4,080 square feet in a single‑level building
- Six dedicated off‑street parking spaces
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$58,630
Cap Rate
7.33%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,172,600
$1.2M
Cap Rate 7%
$837,571
$837.6K
Cap Rate 9%
$651,444
$651.4K
Market Conditions
NOI Build-Up for 4,080 SF
Gross rent
$110.6K $27.12/SF
− Vacancy
−$4.0K −$0.99/SF
EGI
$106.6K $26.13/SF
− OpEx
−$48.0K −$11.76/SF
NOI
$58.6K $14.37/SF
Area
Canyon County, ID
Vacancy
3.66%
Lease Rate
$27.12 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,172,600
Cap Rate 7%
$837,571
Cap Rate 9%
$651,444
Alternative Uses
Best Use
Apartment 5plus
$837.6K
$732.9K – $977.2K
NOI $58,630 @ 7.0% cap · market cap 7.33%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.09M
$950.9K – $1.27M
NOI $76,070 @ 7.0% cap · market cap 9.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
6
Residential units
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
479
Businesses Nearby
Explore this area
Business Placement
Demographics for 83605, ID
38,561
Population
14,197
Households
2.7
Avg Household Size
32
Median Age
14%
College-Educated
80%
High-School Grad
24.6 sq mi
ZIP Area
1,568
Density / Sq Mi
$60,657
Median Household Income
$31,806
Median Earnings
$973
Median Rent
$300,900
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Apartment building - Single-level property with one-bedroom units, full kitchens, living areas, and washer/dryer hookups.
Where is this apartment building located?
The property is located at 2406 Indiana Ave Caldwell, ID.
What is the asking price?
The asking price for this property is $799,900.
What are key features of this property?
This property features: Six one‑bedroom, one‑bathroom apartment units; 4,080 square feet in a single‑level building; Six dedicated off‑street parking spaces
