Newly Built Duplex with
For Sale
$675,000
195-197 2nd Street, Idaho Falls, ID 83401
Residential Income, Idaho Falls, ID
Property Size3,880 SF
Lot Size0.19 Acres
Price / SF$173.97
Days on Market48
Property Features for 195-197 2nd Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
General Zoning: If Residence 1, Specific Zoning: Idaho Falls-R1 Residential
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 3, Bedroom 4, Basement, Bedroom 2, Bathroom 3, Bedroom 6, Bedroom 5, Bathroom 1, Bedroom 1, Bathroom 4, Bathroom 2
Parking
4
Parking features
Garage
Basement
Finished, Full
Appliances
Separate Water Heaters, Dishwasher, Refrigerator, Oven
Subdivision
Crows Addition-Bon
Elementary school
Dora Erickson Elementary School
Middle school
Taylor View 91JH
High school
Idaho Falls 91HS
Directions
From 1st street turn south on N Lee Ave. Turn right on 2nd St. Home is on the corner.
Standard status
Active
APN
RPA0540004046B
Size
3,880 SF
Lot size
0.19 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
E 15' LOT 46, LOTS 47-48, BLOCK 4, CROWS
Tax Annual Amount
2614
Legal Description
E 15' LOT 46, LOTS 47-48, BLOCK 4, CROWS
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
2023
Number of units
2
Building materials
Frame, Vinyl Siding
Listing Agency:
Silvercreek Realty Group
(208) 523-6111
Listed By:
Vic Martinez · License #SP45505
(208) 351-4359
Added: Jul 28
Changed: Sep 13
Last Checked: Sep 13 at 6:06PM
MLS# 2188140
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.
Built in 2023, this 3,880-square-foot duplex contains two residences, each measuring 1,940 square feet. Both units offer three bedrooms, two full bathrooms, an open living and kitchen arrangement, and a primary bedroom on the main level. Kitchens include a center island, dishwasher, refrigerator, and oven, while separate water heaters support each side.
Each residence includes a basement with a family room, two additional bedrooms, a full bathroom, and laundry access near the bedrooms. Storage areas are also provided throughout. The property occupies a 0.19-acre corner lot and includes a two-car garage for each unit. Frame construction with vinyl siding, forced-air natural gas heat, central air, public water, and public sewer complete the property. Shopping and schools are located nearby.
Each residence includes a basement with a family room, two additional bedrooms, a full bathroom, and laundry access near the bedrooms. Storage areas are also provided throughout. The property occupies a 0.19-acre corner lot and includes a two-car garage for each unit. Frame construction with vinyl siding, forced-air natural gas heat, central air, public water, and public sewer complete the property. Shopping and schools are located nearby.
Key Highlights
- 2023‑built duplex totaling 3,880 square feet
- Each 1,940‑square‑foot unit has 3 bedrooms and 2 full bathrooms
- Two‑car garage provided for each unit
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
$32,682
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
4.84%
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%
$653,640
$653.6K
Cap Rate 7%
$466,886
$466.9K
Cap Rate 9%
$363,133
$363.1K
Market Conditions
NOI Build-Up for 3,880 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
$48.9K $12.60/SF
− Vacancy
−$2.2K −$0.57/SF
EGI
$46.7K $12.03/SF
− OpEx
−$14.0K −$3.61/SF
NOI
$32.7K $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%
$653,640
Cap Rate 7%
$466,886
Cap Rate 9%
$363,133
Alternative Uses
Best Use
Multifamily LT 5
$466.9K
$408.5K – $544.7K
NOI $32,682 @ 7.0% cap · market cap 4.84%
Second Best
Apartment 5plus
$422.3K
$369.5K – $492.7K
NOI $29,562 @ 7.0% cap · market cap 4.38%
Theoretical Best
Office A
$857.2K
$750.1K – $1.00M
NOI $60,007 @ 7.0% cap · market cap 8.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,676
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit property with spacious layouts, full appliance packages, and private two-car garages for each residence.
Where is this duplex located?
The property is located at 195-197 2nd Street Idaho Falls, ID.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: 2023‑built duplex totaling 3,880 square feet; Each 1,940‑square‑foot unit has 3 bedrooms and 2 full bathrooms; Two‑car garage provided for each unit
