Two-Home Multifamily
For Sale
$399,900
355 & 359 Highway 55, Horseshoe Bend, ID 83629
Two residences occupy separate parcels with shared pressurized irrigation.
Property Size2,200 SF
Lot Size1.00 Acre
Price / SF$181.77
Days on Market8
Property Features for 355 & 359 Highway 55
General Information
Standard status
Active
Size
2,200 SF
Lot size
1.00 Acre
Property subtype
Multi-Family
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Multifamily Units
2
Building Details
Year Built
1971
Buildings
2
Listing Agency:
Silvercreek Realty Group
(208) 377-0422
Listed By:
Steve Thiessen · License #AB41683
Source:
Westrealestategroup
Added: Aug 25
Changed: Aug 28
Last Checked: Aug 31 at 6:49PM
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.
This multifamily property includes two residences situated across two parcels totaling 1 acre. The home at 355 Hwy 55 is a 672sf stick-built residence with two bedrooms and one bathroom. At 359 Hwy 55, a 1288sf mobile home is set on a foundation, with a two-car garage and carport located on .66 acres.
The property offers 360 feet of frontage along Hwy 55 in Horseshoe Bend, Idaho. Pressurized irrigation is supplied through a shared well, providing an established water source for the parcels.
The property offers 360 feet of frontage along Hwy 55 in Horseshoe Bend, Idaho. Pressurized irrigation is supplied through a shared well, providing an established water source for the parcels.
Key Highlights
- Two homes across two parcels totaling 1 acre
- 360 feet of Hwy 55 frontage
- 672sf, 2 bed, 1 bath stick‑built home at 355 Hwy 55
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
Location Intelligence
Trade Area within ½ mile
54
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Multifamily property - Two residences occupy separate parcels with shared pressurized 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 homes across two parcels totaling 1 acre; 360 feet of Hwy 55 frontage; 672sf, 2 bed, 1 bath stick‑built home at 355 Hwy 55
