Four-Unit Residential Building with
For Sale
$1,175,000
2424 Virlow, Idaho Falls, ID 83401
MULTI_FAMILY - Idaho Falls, ID
Property Size5,856 SF
Lot Size0.24 Acres
Price / SF$200.65
Days on Market47
Property Features for 2424 Virlow
General Information
Property type
Residential Multi Family
Property subtype
Other
Property condition
Under Construction
Zoning description
General Zoning: Bonneville Residen, Specific Zoning: Idaho Falls-R1 Residential
Bedrooms
12
Bathrooms
10
Full bathrooms
8
Half bathrooms
4
Rooms
Bathroom 6, Bedroom 7, Bedroom 6, Bathroom 2, Bathroom 10, Bedroom 4, Bathroom 11, Bedroom 8, Bathroom 5, Bedroom 2, Bedroom 11, Bathroom 8, Bedroom 10, Bedroom 3, Bedroom 12, Bedroom 5, Bedroom 9, Bathroom 1, Bathroom 12, Bathroom 9, Bathroom 3, Bathroom 7, Bathroom 4, Bedroom 1
Parking
8
Appliances
Separate Water Heaters, Dishwasher, Microwave, Refrigerator, Oven, Stove
Subdivision
Virlow Village
Lot features
Near Mall/ Shop, Near Schools, Near University/ College, Established Lawn, Many Trees, Sprinkler- Auto, Sprinkler System- Full, Level
Elementary school
Falls Valley 93EL
Middle school
Rocky Mountain 93JH
High school
Bonneville 93HS
Directions
Beginning at 1st St and 25th E, head North on 25th E, turn left onto Virlow St, property is on the left.
Standard status
Active
APN
RPA2960001001O
Size
5,856 SF
Lot size
0.24 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Lot 20, Block 1, Virlow Village
Tax Annual Amount
38
Legal Description
Lot 20, Block 1, Virlow Village
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Cooling system
Central Air
Water source
Public
Building Details
Year built
2025
Number of units
4
Building materials
Vinyl Siding
Listing Agency:
Keller Williams Realty East Idaho
(208) 529-8888
Listed By:
Anderson Hicks Group
(208) 529-8888
Added: Jun 26
Changed: Aug 1
Last Checked: Aug 11 at 10:06PM
MLS# 2187299
Copyright © 2026 Snake River Regional MLS. 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.
New 2025 four-plex under construction offering four residential units in a modern two-story layout. Each unit features an open-concept main floor with wood cabinetry, granite countertops, an island, and a convenient half bath. Upstairs, each unit includes three bedrooms, including a private master suite, plus a dedicated laundry area. For parking and storage, every unit has an attached double-car garage.
The property is built with vinyl siding and served by public water and public sewer. Heating is provided by forced air natural gas systems, and cooling is central air.
Built for first occupancy, this four-unit property includes major appliances across the units, including separate water heaters, dishwashers, microwaves, refrigerators, ovens, and stoves.
The property is built with vinyl siding and served by public water and public sewer. Heating is provided by forced air natural gas systems, and cooling is central air.
Built for first occupancy, this four-unit property includes major appliances across the units, including separate water heaters, dishwashers, microwaves, refrigerators, ovens, and stoves.
Key Highlights
- Brand‑new 2025 four‑plex under construction
- Four units in a modern two‑story layout
- Each unit has an open‑concept main floor with granite countertops and an island
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
$49,326
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
4.20%
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%
$986,520
$986.5K
Cap Rate 7%
$704,657
$704.7K
Cap Rate 9%
$548,067
$548.1K
Market Conditions
NOI Build-Up for 5,856 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
$73.8K $12.60/SF
− Vacancy
−$3.3K −$0.57/SF
EGI
$70.5K $12.03/SF
− OpEx
−$21.1K −$3.61/SF
NOI
$49.3K $8.42/SF
Area
Bonneville County, ID
Vacancy
4.50%
Lease Rate
$12.60 /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%
$986,520
Cap Rate 7%
$704,657
Cap Rate 9%
$548,067
Alternative Uses
Best Use
Multifamily LT 5
$704.7K
$616.6K – $822.1K
NOI $49,326 @ 7.0% cap · market cap 4.20%
Second Best
Apartment 5plus
$637.4K
$557.7K – $743.6K
NOI $44,617 @ 7.0% cap · market cap 3.80%
Theoretical Best
Office A
$1.29M
$1.13M – $1.51M
NOI $90,567 @ 7.0% cap · market cap 7.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
145
Businesses Nearby
Explore this area
Business Placement
Demographics for 83401, ID
47,114
Population
16,026
Households
2.9
Avg Household Size
31
Median Age
30%
College-Educated
90%
High-School Grad
197.3 sq mi
ZIP Area
239
Density / Sq Mi
$75,870
Median Household Income
$35,293
Median Earnings
$1,132
Median Rent
$307,700
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Brand-new four-plex under construction with central air, natural gas forced-air heat, and attached double-car garages.
Where is this quadplex located?
The property is located at 2424 Virlow Idaho Falls, ID.
What is the asking price?
The asking price for this property is $1,175,000.
What are key features of this property?
This property features: Brand‑new 2025 four‑plex under construction; Four units in a modern two‑story layout; Each unit has an open‑concept main floor with granite countertops and an island
