Updated Duplex with Oversized
For Sale
$289,000
223 W Sublette St, Pocatello, ID 83204
MULTI-FAMILY, All Units-One Building, Units Over and Under, Pocatello, ID
Property Size1,572 SF
Lot Size0.10 Acres
Price / SF$183.84
Days on Market110
Property Features for 223 W Sublette St
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
Residential
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bedroom 1, Bedroom 3, Bathroom 1, Bathroom 2
Fencing
Chain Link
Elementary school
Jefferson
Middle school
Irving
High school
Pocatello
Subdivision
West Pocatello
Standard status
Active
Size
1,572 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Annual Amount
962
Utilities
Heating system
Forced Air
Water source
Public
Amenities
patios
dog run
oversized garage
Building Details
Year built
1918
Building materials
Frame
Architectural style
Other
Listing Agency:
Silvercreek Realty Group
(208) 234-9696
Listed By:
Keylee DeMott
(208) 520-5972
Added: Jun 16
Changed: Sep 22
Last Checked: Oct 3 at 5:06PM
MLS# 582849
Copyright © 2026 Greater Pocatello Association of REALTORS®. 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 residential duplex contains 1,572 square feet in an over-and-under configuration. The upper residence offers two bedrooms and one bathroom, while the lower residence has one bedroom and one bathroom. The property has been updated and includes two patios, a fenced dog run, and an oversized garage. Frame construction, forced-air heating, public water, and chain-link fencing are also present.
Located in Pocatello, the property is zoned Residential and was built in 1918. It is currently leased through Airbnb, providing an existing short-term rental use for the two-unit building.
Located in Pocatello, the property is zoned Residential and was built in 1918. It is currently leased through Airbnb, providing an existing short-term rental use for the two-unit building.
Key Highlights
- 1,572‑square‑foot duplex with over‑and‑under unit arrangement
- Upper unit has 2 bedrooms and 1 bathroom
- Lower unit has 1 bedroom and 1 bathroom
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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Open Analytics
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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-level unit layout includes private outdoor areas and an oversized garage.
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: 1,572‑square‑foot duplex with over‑and‑under unit arrangement; Upper unit has 2 bedrooms and 1 bathroom; Lower unit has 1 bedroom and 1 bathroom
