12-Unit Multifamily
New
For Sale
$1,200,000
280 1st Street, Idaho Falls, ID 83401
Professionally managed residential income property with an established 12-unit configuration.
Property Size8,752 SF
Price / SF$137.11
Days on Market2
Property Features for 280 1st Street
General Information
Standard status
Active
Size
8,752 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
12
Building Details
Year Built
1920
Listing Agency:
Silvercreek Realty Group
Listed By:
Eli Dahlin · License #3003_9965
(208) 523-6111
Source:
Townsendrealtyteam
Added: Sep 5
Last Checked: Sep 5 at 3:36PM
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 Silvercreek Realty Group
Investment Insights
Based on property information with market context.
Located at 280 1st Street in Idaho Falls, this multifamily property contains 12 residential units within 8,752 square feet. The building dates to 1920 and is described as well maintained, providing an established residential asset rather than new construction.
Professional management is already in place, supporting continuity of property operations. The property is situated in Idaho Falls, Idaho, and is offered as a multifamily investment with existing residential income use.
Professional management is already in place, supporting continuity of property operations. The property is situated in Idaho Falls, Idaho, and is offered as a multifamily investment with existing residential income use.
Key Highlights
- 12‑unit multifamily property
- 8,752 square feet of building area
- Built in 1920
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
$66,682
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
5.56%
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%
$1,333,640
$1.3M
Cap Rate 7%
$952,600
$952.6K
Cap Rate 9%
$740,911
$740.9K
Market Conditions
NOI Build-Up for 8,752 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
$126.0K $14.40/SF
− Vacancy
−$4.8K −$0.55/SF
EGI
$121.2K $13.85/SF
− OpEx
−$54.6K −$6.23/SF
NOI
$66.7K $7.62/SF
Area
Bonneville County, ID
Vacancy
3.80%
Lease Rate
$14.40 /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%
$1,333,640
Cap Rate 7%
$952,600
Cap Rate 9%
$740,911
Alternative Uses
Best Use
Apartment 5plus
$952.6K
$833.5K – $1.11M
NOI $66,682 @ 7.0% cap · market cap 5.56%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.93M
$1.69M – $2.26M
NOI $135,355 @ 7.0% cap · market cap 11.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
12
Residential units
Location Intelligence
Trade Area within ½ mile
1,082
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?
Apartment building - Professionally managed residential income property with an established 12-unit configuration.
Where is this apartment building located?
The property is located at 280 1st Street Idaho Falls, ID.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 12‑unit multifamily property; 8,752 square feet of building area; Built in 1920
