Updated Duplex with Oversized
New
For Sale
$289,000
223 W Sublette St, Pocatello, ID 83204
Two separate living levels provide a two-bedroom upper unit and a one-bedroom lower unit, each with one bathroom.
Property Size1,572 SF
Price / SF$183.84
Days on Market2
Property Features for 223 W Sublette St
General Information
Standard status
Active
Size
1,572 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
2
Amenities
patios
dog run
oversized garage
Building Details
Year Built
1918
Buildings
1
Listing Agency:
Silvercreek Realty Group
Listed By:
Keylee DeMott
Source:
Signaturerealestateid
Added: Sep 26
Last Checked: Sep 26 at 2:39PM
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 Silvercreek Realty Group
Investment Insights
Based on property information with market context.
This updated duplex contains 1,572 square feet, arranged as two units: a two-bedroom, one-bathroom residence on the upper level and a one-bedroom, one-bathroom residence below. The property also includes two patios, a dog run, and an oversized garage. It was built in 1918 and is currently leased for Airbnb use.
The property is at 223 W Sublette St in Pocatello, close to downtown activities. A second full city lot is offered separately and has approval for development of up to a four-unit property.
The property is at 223 W Sublette St in Pocatello, close to downtown activities. A second full city lot is offered separately and has approval for development of up to a four-unit property.
Key Highlights
- Two‑unit layout: 2 bedrooms and 1 bathroom upstairs; 1 bedroom and 1 bathroom downstairs
- 1,572 square feet; built in 1918
- Two patios, a dog run, and an oversized garage
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
$10,607
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
3.67%
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%
$212,140
$212.1K
Cap Rate 7%
$151,529
$151.5K
Cap Rate 9%
$117,856
$117.9K
Market Conditions
NOI Build-Up for 1,572 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
$16.0K $10.20/SF
− Vacancy
−$882 −$0.56/SF
EGI
$15.2K $9.64/SF
− OpEx
−$4.5K −$2.89/SF
NOI
$10.6K $6.75/SF
Area
Bannock County, ID
Vacancy
5.50%
Lease Rate
$10.20 /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%
$212,140
Cap Rate 7%
$151,529
Cap Rate 9%
$117,856
Alternative Uses
Best Use
Multifamily LT 5
$151.5K
$132.6K – $176.8K
NOI $10,607 @ 7.0% cap · market cap 3.67%
Second Best
Apartment 5plus
$141.1K
$123.5K – $164.6K
NOI $9,877 @ 7.0% cap · market cap 3.42%
Theoretical Best
Office A
$260.5K
$227.9K – $303.9K
NOI $18,234 @ 7.0% cap · market cap 6.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,282
Businesses Nearby
Explore this area
Business Placement
Demographics for 83204, ID
18,408
Population
8,238
Households
2.2
Avg Household Size
38
Median Age
32%
College-Educated
94%
High-School Grad
280.1 sq mi
ZIP Area
66
Density / Sq Mi
$55,191
Median Household Income
$33,806
Median Earnings
$748
Median Rent
$233,000
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?
Duplex - Two separate living levels provide a two-bedroom upper unit and a one-bedroom lower unit, each with one bathroom.
Where is this duplex located?
The property is located at 223 W Sublette St Pocatello, ID.
What is the asking price?
The asking price for this property is $289,000.
What are key features of this property?
This property features: Two‑unit layout: 2 bedrooms and 1 bathroom upstairs; 1 bedroom and 1 bathroom downstairs; 1,572 square feet; built in 1918; Two patios, a dog run, and an oversized garage
