New Four-Unit
For Sale
$1,175,000
2424 Virlow St, Idaho Falls, ID 83401
Two-story income property with three-bedroom units, private garages, and modern kitchen finishes.
Property Size5,856 SF
Price / SF$200.65
Days on Market52
Property Features for 2424 Virlow St
General Information
Standard status
Active
Size
5,856 SF
Total Parking Spaces
8
Property subtype
Residential Income
Units
Unit Mix
4 x 3BR
Multifamily Units
4
Parking per Unit
2
Taxes and HOA fees
Annual Taxes
$38
Building Details
Year Built
2025
Buildings
1
Stories
2
Listing Agency:
Keller Williams Realty East Idaho
(208) 227-5320
Listed By:
Anderson Hicks Group
(208) 227-5320
Source:
Exprealty
Added: Jun 24
Changed: Aug 13
Last Checked: Aug 14 at 11:49AM
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 Keller Williams Realty East Idaho
Investment Insights
Based on property information with market context.
Completed in 2025, this 5,856-square-foot quadplex contains four two-story units. Each residence has an open main level with wood cabinetry, granite countertops, a kitchen island, and a half bath. The upper floor provides three bedrooms, including a private primary suite, along with a dedicated laundry area.
Every unit includes an attached double-car garage, while designated parking adds additional on-site convenience. The property is located on Virlow St in Idaho Falls, minutes from shopping, restaurants, and schools. Low-maintenance construction and new interiors support occupancy by first residents.
Every unit includes an attached double-car garage, while designated parking adds additional on-site convenience. The property is located on Virlow St in Idaho Falls, minutes from shopping, restaurants, and schools. Low-maintenance construction and new interiors support occupancy by first residents.
Key Highlights
- Four‑unit quadplex completed in 2025
- 5,856‑square‑foot, two‑story multifamily building
- Each unit offers three bedrooms and a private primary suite
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
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 - Two-story income property with three-bedroom units, private garages, and modern kitchen finishes.
Where is this quadplex located?
The property is located at 2424 Virlow St 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: Four‑unit quadplex completed in 2025; 5,856‑square‑foot, two‑story multifamily building; Each unit offers three bedrooms and a private primary suite
