Craftsman Triplex with Covered
For Sale
$450,000
2233 S 2nd Avenue, Pocatello, ID 83201
MULTI-FAMILY, All Units-One Building, Units Over and Under, Pocatello, ID
Property Size3,863 SF
Lot Size0.21 Acres
Price / SF$116.49
Days on Market124
Property Features for 2233 S 2nd Avenue
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning
Residential
Bedrooms
6
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bathroom 3, Bedroom 5, Bathroom 2, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 6
Fencing
Privacy
Lot features
Near Park, Near University/ College
Elementary school
Washington
Middle school
Irving
High school
Century
Subdivision
West Pocatello
Standard status
Active
Size
3,863 SF
Lot size
0.21 Acres
Taxes and HOA fees
Tax Annual Amount
2968
Utilities
Heating system
Forced Air
Water source
Public
Amenities
covered front porch
big back deck
fenced yard
Building Details
Year built
1930
Number of units
3
Building materials
Frame
Architectural style
Other
Listing Agency:
Guardian Realty
(702) 581-8371
Listed By:
Alana Burns · License #2373
(208) 254-0118
Added: Jun 2
Changed: Oct 2
Last Checked: Oct 3 at 5:06PM
MLS# 582691
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 triplex contains 3,863 square feet on a 0.21-acre lot and was built in 1930. The frame property features a large covered front porch with Craftsman detailing, a rear deck, privacy fencing, and parking. Public water and forced-air heating serve the building.
Unit A includes three bedrooms, one bathroom, tall ceilings, wood flooring, Craftsman trim, oversized rooms, an open layout, formal dining and living rooms, a fireplace, den, separate laundry room, and updated kitchen. The laundry room is identified as a possible fourth bedroom. Unit B offers two bedrooms, a living room, kitchen, and separate bathroom. Unit C is a studio with an attached kitchen and bathroom. The property is near Ross Park, the interstate, and other multifamily developments.
Unit A includes three bedrooms, one bathroom, tall ceilings, wood flooring, Craftsman trim, oversized rooms, an open layout, formal dining and living rooms, a fireplace, den, separate laundry room, and updated kitchen. The laundry room is identified as a possible fourth bedroom. Unit B offers two bedrooms, a living room, kitchen, and separate bathroom. Unit C is a studio with an attached kitchen and bathroom. The property is near Ross Park, the interstate, and other multifamily developments.
Key Highlights
- 3,863‑square‑foot triplex on a 0.21‑acre lot
- Three units: 3‑bedroom, 2‑bedroom, and studio configurations
- Built in 1930 with frame construction and Craftsman detailing
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
$26,065
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
5.79%
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%
$521,300
$521.3K
Cap Rate 7%
$372,357
$372.4K
Cap Rate 9%
$289,611
$289.6K
Market Conditions
NOI Build-Up for 3,863 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
$39.4K $10.20/SF
− Vacancy
−$2.2K −$0.56/SF
EGI
$37.2K $9.64/SF
− OpEx
−$11.2K −$2.89/SF
NOI
$26.1K $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%
$521,300
Cap Rate 7%
$372,357
Cap Rate 9%
$289,611
Alternative Uses
Best Use
Multifamily LT 5
$372.4K
$325.8K – $434.4K
NOI $26,065 @ 7.0% cap · market cap 5.79%
Second Best
Apartment 5plus
$346.7K
$303.4K – $404.5K
NOI $24,272 @ 7.0% cap · market cap 5.39%
Theoretical Best
Office A
$640.1K
$560.1K – $746.8K
NOI $44,808 @ 7.0% cap · market cap 9.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
170
Businesses Nearby
Explore this area
Business Placement
Demographics for 83201, ID
38,921
Population
15,885
Households
2.5
Avg Household Size
33
Median Age
34%
College-Educated
94%
High-School Grad
34.2 sq mi
ZIP Area
1,138
Density / Sq Mi
$63,209
Median Household Income
$34,118
Median Earnings
$905
Median Rent
$256,100
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?
Triplex - Three residential units occupy a historic Craftsman-style building with updated interiors, a fenced yard, rear deck, and parking.
Where is this triplex located?
The property is located at 2233 S 2nd Avenue Pocatello, ID.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: 3,863‑square‑foot triplex on a 0.21‑acre lot; Three units: 3‑bedroom, 2‑bedroom, and studio configurations; Built in 1930 with frame construction and Craftsman detailing
