Two-Home Multifamily
For Sale
$399,900
355 & 359 Highway 55, Horseshoe Bend, ID 83629
Residential Income, Horseshoe Bend, ID
Property Size2,200 SF
Lot Size1.00 Acre
Price / SF$181.77
Days on Market100
Property Features for 355 & 359 Highway 55
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 4, Bedroom 3, Bathroom 1, Bathroom 3, Bedroom 5, Bedroom 1, Bedroom 2, Bathroom 2
Parking
10
Parking features
RV, Carport
Subdivision
0 Not Applic.
Lot features
1 - 4.99 Acres, R. V. Parking
Elementary school
Horseshoe
Middle school
HorseShoJr
High school
Horseshoe Bend
Elementary school district
Horseshoe Bend School District #73
Middle school district
Horseshoe Bend School District #73
High school district
Horseshoe Bend School District #73
Directions
Hwy 55 north from Eagle. Corner of Hwy 55 and Pioneer St.
Standard status
Active
APN
RPH0003001009A and RPH0003001008A
Size
2,200 SF
Lot size
1.00 Acre
Taxes and HOA fees
Tax Year
2024
Tax Description
See Exhibit A
Tax Annual Amount
2177
Legal Description
See Exhibit A
Utilities
Sewer type
Septic Tank
Heating system
Propane (Heating), Oil
Cooling system
Evaporative Cooling, Central Air
Water source
Well
Building Details
Year built
1971
Number of units
2
Building materials
Frame
Roof type
Metal, Composition
Listing Agency:
Silvercreek Realty Group
(208) 377-0422
Listed By:
Steve Thiessen · License #AB41683
(208) 598-5032
Added: May 15
Changed: Aug 20
Last Checked: Aug 22 at 7:06PM
MLS# 98986407
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 multifamily property comprises two residences across separate parcels totaling 1 acre. The home at 355 Highway 55 contains 672 square feet with 2 bedrooms and 1 bathroom. At 359 Highway 55, the 1,288-square-foot mobile home is placed on a foundation and accompanied by a 2-car garage and carport. Combined building area is 2,200 square feet.
The property has 360 feet of frontage along Highway 55 and mountain views. Pressurized irrigation is supplied through a shared well, while wastewater service is provided by septic tanks. Improvements date to 1971 and include frame construction, metal and composition roofing, propane and oil heating, and evaporative and central air conditioning. RV parking is also identified among the site features.
The property has 360 feet of frontage along Highway 55 and mountain views. Pressurized irrigation is supplied through a shared well, while wastewater service is provided by septic tanks. Improvements date to 1971 and include frame construction, metal and composition roofing, propane and oil heating, and evaporative and central air conditioning. RV parking is also identified among the site features.
Key Highlights
- Two residences across separate parcels totaling 1 acre
- Combined property size of 2,200 square feet
- 355 Highway 55 home: 672sf, 2 bedrooms, and 1 bathroom
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
$21,680
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
5.42%
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%
$433,600
$433.6K
Cap Rate 7%
$309,714
$309.7K
Cap Rate 9%
$240,889
$240.9K
Market Conditions
NOI Build-Up for 2,200 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
$41.7K $18.96/SF
− Vacancy
−$2.3K −$1.04/SF
EGI
$39.4K $17.92/SF
− OpEx
−$17.7K −$8.06/SF
NOI
$21.7K $9.85/SF
Area
Boise County, ID
Vacancy
5.50%
Lease Rate
$18.96 /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%
$433,600
Cap Rate 7%
$309,714
Cap Rate 9%
$240,889
Alternative Uses
Best Use
Apartment 5plus
$309.7K
$271.0K – $361.3K
NOI $21,680 @ 7.0% cap · market cap 5.42%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$556.5K
$487.0K – $649.3K
NOI $38,956 @ 7.0% cap · market cap 9.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
42
Businesses Nearby
Explore this area
Business Placement
Demographics for 83629, ID
1,731
Population
941
Households
1.8
Avg Household Size
49
Median Age
21%
College-Educated
95%
High-School Grad
193.6 sq mi
ZIP Area
9
Density / Sq Mi
$71,944
Median Household Income
$41,952
Median Earnings
$950
Median Rent
$348,500
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?
Multifamily property - Two residences on separate parcels with a garage, carport, and shared-well irrigation.
Where is this multifamily property located?
The property is located at 355 & 359 Highway 55 Horseshoe Bend, ID.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: Two residences across separate parcels totaling 1 acre; Combined property size of 2,200 square feet; 355 Highway 55 home: 672sf, 2 bedrooms, and 1 bathroom
