Updated
For Sale
$669,000
2114 Meppen Dr, Idaho Falls, ID 83401
Four residential units feature open layouts, full baths, and washer/dryer hookups.
Property Size4,000 SF
Price / SF$167.25
Days on Market20
Property Features for 2114 Meppen Dr
General Information
Standard status
Active
Size
4,000 SF
Property subtype
Residential Income
Units
Unit Mix
4 x 3BR/1BA
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$5,254
Amenities
washer/dryer hookups
Listing Agency:
eXp Realty LLC
(208) 227-5389
Listed By:
Grider Peterson Real Estate Team
(208) 227-5389
Source:
Exprealty
Added: Aug 10
Changed: Aug 27
Last Checked: Aug 28 at 5:43PM
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 eXp Realty LLC
Investment Insights
Based on property information with market context.
This quadplex contains four residential units with 12 bedrooms and 4 bathrooms overall. Each unit provides 3 bedrooms, 1 full bathroom, approximately 1,000 square feet of living space, an open floor plan, and washer/dryer hookups. Recent interior updates have been completed throughout the property, which totals 4,000 square feet.
The property is located at 2114 Meppen Dr in Idaho Falls, Idaho, with access to shopping, grocery stores, schools, dining, entertainment, and other everyday amenities. The unit configuration offers four separate residences within one multifamily property.
The property is located at 2114 Meppen Dr in Idaho Falls, Idaho, with access to shopping, grocery stores, schools, dining, entertainment, and other everyday amenities. The unit configuration offers four separate residences within one multifamily property.
Key Highlights
- Four‑unit quadplex with 12 bedrooms and 4 bathrooms
- Each unit includes 3 bedrooms and 1 full bath
- Approximately 1,000 sq. ft. per unit; 4,000 sq. ft. total
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
$33,692
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
5.04%
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%
$673,840
$673.8K
Cap Rate 7%
$481,314
$481.3K
Cap Rate 9%
$374,356
$374.4K
Market Conditions
NOI Build-Up for 4,000 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
$50.4K $12.60/SF
− Vacancy
−$2.3K −$0.57/SF
EGI
$48.1K $12.03/SF
− OpEx
−$14.4K −$3.61/SF
NOI
$33.7K $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%
$673,840
Cap Rate 7%
$481,314
Cap Rate 9%
$374,356
Alternative Uses
Best Use
Multifamily LT 5
$481.3K
$421.2K – $561.5K
NOI $33,692 @ 7.0% cap · market cap 5.04%
Second Best
Apartment 5plus
$435.4K
$381.0K – $507.9K
NOI $30,476 @ 7.0% cap · market cap 4.56%
Theoretical Best
Office A
$883.7K
$773.3K – $1.03M
NOI $61,862 @ 7.0% cap · market cap 9.25%
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
993
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 residential units feature open layouts, full baths, and washer/dryer hookups.
Where is this quadplex located?
The property is located at 2114 Meppen Dr Idaho Falls, ID.
What is the asking price?
The asking price for this property is $669,000.
What are key features of this property?
This property features: Four‑unit quadplex with 12 bedrooms and 4 bathrooms; Each unit includes 3 bedrooms and 1 full bath; Approximately 1,000 sq. ft. per unit; 4,000 sq. ft. total
