Triplex with Three-Level
For Sale
$799,900
2304 N Montana Ave, Caldwell, ID 83605
Multifamily property with room-by-room leasing and two additional income-producing units.
Property Size6,819 SF
Price / SF$117.30
Days on Market69
Property Features for 2304 N Montana Ave
General Information
Standard status
Active
Size
6,819 SF
Property subtype
Multi-Family
Additional Details
Cap Rate
7.3%
Building Details
Year Built
1970
Listing Agency:
Coldwell Banker Tomlinson
Listed By:
Edenn Jablonski · License #AB27022
(208) 672-0447
Source:
Debbiemarcotterealestate
Added: Aug 8
Changed: Oct 2
Last Checked: Oct 7 at 1:35PM
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 Coldwell Banker Tomlinson
Investment Insights
Based on property information with market context.
Built in 1970, this 6,819 SF triplex includes a main residence configured for room-by-room rental, a 1,500 SF studio apartment arranged across three levels, and an attached two-bedroom ADU. The property contains 10 bedrooms and 7 bathrooms, creating a multi-unit configuration with distinct living arrangements.
The property is located at 2304 N Montana Ave in Caldwell, Idaho, across from the Caldwell Rim area and surrounding million-dollar homes. Current operations include multiple rental income streams, with a stated 7.3% cap rate. The layout may accommodate an owner-occupant alongside separate rental spaces, subject to applicable requirements and operating considerations.
The property is located at 2304 N Montana Ave in Caldwell, Idaho, across from the Caldwell Rim area and surrounding million-dollar homes. Current operations include multiple rental income streams, with a stated 7.3% cap rate. The layout may accommodate an owner-occupant alongside separate rental spaces, subject to applicable requirements and operating considerations.
Key Highlights
- 10‑bedroom, 7‑bath triplex configuration
- 6,819 SF property built in 1970
- 1,500 SF studio apartment spans 3 levels
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,912
Cap Rate
5.11%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$818,240
$818.2K
Cap Rate 7%
$584,457
$584.5K
Cap Rate 9%
$454,578
$454.6K
Market Conditions
NOI Build-Up for 6,819 SF
Gross rent
$60.6K $8.88/SF
− Vacancy
−$2.1K −$0.31/SF
EGI
$58.4K $8.57/SF
− OpEx
−$17.5K −$2.57/SF
NOI
$40.9K $6.00/SF
Area
Canyon County, ID
Vacancy
3.48%
Lease Rate
$8.88 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$818,240
Cap Rate 7%
$584,457
Cap Rate 9%
$454,578
Alternative Uses
Best Use
Apartment 5plus
$1.40M
$1.22M – $1.63M
NOI $97,990 @ 7.0% cap · market cap 12.25%
Second Best
Multifamily LT 5
$584.5K
$511.4K – $681.9K
NOI $40,912 @ 7.0% cap · market cap 5.11%
Theoretical Best
Office A
$1.82M
$1.59M – $2.12M
NOI $127,138 @ 7.0% cap · market cap 15.89%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
646
Businesses Nearby
Explore this area
Business Placement
Demographics for 83605, ID
38,561
Population
14,197
Households
2.7
Avg Household Size
32
Median Age
14%
College-Educated
80%
High-School Grad
24.6 sq mi
ZIP Area
1,568
Density / Sq Mi
$60,657
Median Household Income
$31,806
Median Earnings
$973
Median Rent
$300,900
Median Home Value
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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 - Multifamily property with room-by-room leasing and two additional income-producing units.
Where is this triplex located?
The property is located at 2304 N Montana Ave Caldwell, ID.
What is the asking price?
The asking price for this property is $799,900.
What are key features of this property?
This property features: 10‑bedroom, 7‑bath triplex configuration; 6,819 SF property built in 1970; 1,500 SF studio apartment spans 3 levels
