Two-Story Side-by-Side
New
For Sale
$250,000
269-271 S Water Ave, Idaho Falls, ID 83402
Two connected rental units near downtown Idaho Falls, each with separate laundry hookups and a two-level residential layout.
Property Size1,536 SF
Price / SF$162.76
Days on Market3
Property Features for 269-271 S Water Ave
General Information
Standard status
Active
Size
1,536 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Amenities
in-unit laundry hookups
storage shed
Building Details
Year Built
1920
Buildings
1
Listing Agency:
Coldwell Banker Tomlinson
Listed By:
Amanda Mcfarland · License #SP50265
(208) 351-1517
Source:
Griderpeterson
Added: Sep 19
Last Checked: Sep 20 at 10:42AM
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.
This side-by-side duplex contains 1,536 square feet and was built in 1920. The property includes two units, each arranged across two stories with a living room and eat-in kitchen on the main floor, plus two bedrooms and one full bathroom upstairs. Each side also includes its own laundry hookups, while the property adds a metal roof, metal siding, storage shed, and on-street parking.
One unit has new carpet and fresh interior paint. The other is occupied by a long-term tenant, providing an established rental arrangement. Located near downtown Idaho Falls, the duplex offers access to shopping, dining, and everyday amenities. The two-unit configuration also supports separate occupancy of each side.
One unit has new carpet and fresh interior paint. The other is occupied by a long-term tenant, providing an established rental arrangement. Located near downtown Idaho Falls, the duplex offers access to shopping, dining, and everyday amenities. The two-unit configuration also supports separate occupancy of each side.
Key Highlights
- Two‑unit duplex with 1,536 square feet, built in 1920
- Each unit includes 2 bedrooms and 1 bathroom across a two‑story layout
- Separate laundry hookups serve both units
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
$12,938
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
5.18%
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%
$258,760
$258.8K
Cap Rate 7%
$184,829
$184.8K
Cap Rate 9%
$143,756
$143.8K
Market Conditions
NOI Build-Up for 1,536 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
$19.4K $12.60/SF
− Vacancy
−$871 −$0.57/SF
EGI
$18.5K $12.03/SF
− OpEx
−$5.5K −$3.61/SF
NOI
$12.9K $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%
$258,760
Cap Rate 7%
$184,829
Cap Rate 9%
$143,756
Alternative Uses
Best Use
Multifamily LT 5
$184.8K
$161.7K – $215.6K
NOI $12,938 @ 7.0% cap · market cap 5.18%
Second Best
Apartment 5plus
$167.2K
$146.3K – $195.1K
NOI $11,703 @ 7.0% cap · market cap 4.68%
Theoretical Best
Office A
$339.4K
$296.9K – $395.9K
NOI $23,755 @ 7.0% cap · market cap 9.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,579
Businesses Nearby
Explore this area
Business Placement
Demographics for 83402, ID
28,452
Population
11,983
Households
2.4
Avg Household Size
34
Median Age
31%
College-Educated
92%
High-School Grad
171.0 sq mi
ZIP Area
166
Density / Sq Mi
$72,064
Median Household Income
$35,593
Median Earnings
$904
Median Rent
$301,400
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?
Duplex - Two connected rental units near downtown Idaho Falls, each with separate laundry hookups and a two-level residential layout.
Where is this duplex located?
The property is located at 269-271 S Water Ave Idaho Falls, ID.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,536 square feet, built in 1920; Each unit includes 2 bedrooms and 1 bathroom across a two‑story layout; Separate laundry hookups serve both units
