Brick Triplex With Driveway
New
For Sale
$595,000
2323 Hillcrest, Caldwell, ID 83605
Residential Income, Caldwell, ID
Property Size2,288 SF
Lot Size0.27 Acres
Price / SF$260.05
Days on Market1
Property Features for 2323 Hillcrest
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 2, Bedroom 5, Bedroom 4, Bedroom 3, Bathroom 3, Bathroom 1, Bedroom 1, Bedroom 2
Parking
5
Parking features
Driveway
Appliances
Disposal (All Units), Stove/Range (All Units), Refrigerator (All Units), Washer/Dryer (All Units)
Subdivision
Clair-Vista
Lot features
10000 S F - .49, Irrigation
Elementary school
Van Buren
Middle school
Syringa Middle
High school
Caldwell
Elementary school district
Caldwell School District #132
Middle school district
Caldwell School District #132
High school district
Caldwell School District #132
Directions
From Illinois go E on Marble Front, S on Indiana, E on Hillcrest
Standard status
Active
APN
R0073000000
Size
2,288 SF
Lot size
0.27 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
3W NW CLAIR VISTA SUB LT4 BLK2
Tax Annual Amount
2953
Legal Description
3W NW CLAIR VISTA SUB LT4 BLK2
Utilities
Heating system
Electric (Heating), Ceiling, Baseboard
Building Details
Year built
1979
Number of units
3
Flooring type
Vinyl
Building materials
Brick, Concrete, Frame, Vinyl Siding
Roof type
Composition
Listing Agency:
Elite Homes and Property
(208) 860-1748
Listed By:
Richard Fried · License #32033
(888) 908-0705
Added: Sep 13
Last Checked: Sep 13 at 3:06PM
MLS# 99000719
Copyright © 2026 Intermountain Multiple Listing Service. 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 2,288-square-foot triplex was built in 1979 and includes three bathrooms and five bedrooms across the property. Interior features include vinyl flooring, electric ceiling and baseboard heating, and kitchens equipped with disposals, stove/ranges, refrigerators, and washer/dryers. Construction materials include brick, concrete, frame, and vinyl siding, with a composition roof and driveway parking.
Located at 2323 Hillcrest in Caldwell, the property is near shopping, restaurants, schools, and everyday services. The College of Idaho, downtown Caldwell, Indian Creek Plaza, and freeway access are also identified as nearby destinations. The 0.27-acre parcel combines a multifamily configuration with established residential surroundings.
Located at 2323 Hillcrest in Caldwell, the property is near shopping, restaurants, schools, and everyday services. The College of Idaho, downtown Caldwell, Indian Creek Plaza, and freeway access are also identified as nearby destinations. The 0.27-acre parcel combines a multifamily configuration with established residential surroundings.
Key Highlights
- Three‑unit property totaling 2,288 square feet
- Five bedrooms and three bathrooms across the triplex
- 0.27‑acre parcel at 2323 Hillcrest, Caldwell, ID 83605
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
$32,879
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
5.53%
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%
$657,580
$657.6K
Cap Rate 7%
$469,700
$469.7K
Cap Rate 9%
$365,322
$365.3K
Market Conditions
NOI Build-Up for 2,288 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
$62.1K $27.12/SF
− Vacancy
−$2.3K −$0.99/SF
EGI
$59.8K $26.13/SF
− OpEx
−$26.9K −$11.76/SF
NOI
$32.9K $14.37/SF
Area
Canyon County, ID
Vacancy
3.66%
Lease Rate
$27.12 /SF/Yr
Expense Ratio
45.00%
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%
$657,580
Cap Rate 7%
$469,700
Cap Rate 9%
$365,322
Alternative Uses
Best Use
Apartment 5plus
$469.7K
$411.0K – $548.0K
NOI $32,879 @ 7.0% cap · market cap 5.53%
Second Best
Multifamily LT 5
$196.1K
$171.6K – $228.8K
NOI $13,727 @ 7.0% cap · market cap 2.31%
Theoretical Best
Office A
$609.4K
$533.2K – $711.0K
NOI $42,659 @ 7.0% cap · market cap 7.17%
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
172
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Triplex - Three-unit residential property with in-unit appliances, vinyl flooring, and a mix of brick, concrete, frame, and vinyl siding construction.
Where is this triplex located?
The property is located at 2323 Hillcrest Caldwell, ID.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: Three‑unit property totaling 2,288 square feet; Five bedrooms and three bathrooms across the triplex; 0.27‑acre parcel at 2323 Hillcrest, Caldwell, ID 83605
