Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    New Idaho Falls Fourplex Title is generated by Realmo AI

    3608 N Felix Way, Idaho Falls, ID 83401

    View on Map
    Claim this Listing
    Pending
    $850,000

    MULTI_FAMILY - Idaho Falls, ID

    Property size:
    4,712 SF
    Lot size:
    0.31 Acres
    Added:
    Apr 7, 2026
    Days on Market:
    47
    Last Refresh:
    May 23 at 12:06 am

    Property Features for 3608 N Felix Way

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Property condition
    Under Construction
    Bedrooms
    3
    Bathrooms
    2
    Rooms
    Bathroom 2, Bedroom 3, Bedroom 2, Bedroom 1, Bathroom 1
    Appliances
    Common Water Heaters, Dishwasher, Microwave, Refrigerator, Oven, Stove
    Standard status
    Pending
    Size
    4,712 SF
    Lot size
    0.31 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    L15 B6 Freedom Acres Div 3
    Tax Annual Amount
    0

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Radiant, Electric (Heating)
    Water source
    Public

    Building Details

    Year built
    2026
    Number of units
    4
    Flooring type
    Carpet - Full, Carpet
    Building materials
    Stone, Vinyl Siding

    We can help!

    Listing Contact
    Ryan Webster
    Ryan Webster

    Listing agent Ryan Webster License #SP30269

    Listing office Keller Williams Realty East Idaho 3525 Merlin Drive, Idaho Falls, ID

    Listing date Apr 7, 2026

    MLS# 2184656 Listing URL

    Copyright © 2026 Snake River Regional MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • New 4‑plex construction, offering a modern investment property.
    • Granite countertops and open concept design.
    • Spacious bedrooms.
    • Great location with convenient access to Idaho Falls, Rexburg, Rigby, Ririe, and Swan Valley.
    • Includes essential appliances: Dishwasher, Microwave, Refrigerator, Oven, and Stove.
    • Estimated completion date of August 2026.

    Overview

    This multifamily property, located in Idaho Falls, ID, presents a great investment opportunity. The new fourplex is situated in Freedom Acres. The property is currently under construction with an estimated completion date of August 2026. The building has a total area of 4712 square feet and is located on a 0.31-acre lot. The units feature granite counters, an open concept design, and spacious bedrooms. The location provides convenient access to Idaho Falls, Rexburg, Rigby, Ririe, and Swan Valley.
    Location Intelligence

    Current Use by Public Records

    Quadplexes

    Map

    City
    Idaho Falls
    County
    Bonneville
    State
    Idaho
    Longitude
    -112.0407506
    Latitude
    43.4926602

    Nearby Similar for Sale

    • $535,000
      3,176 SF

      Idaho Falls Multifamily Home

      Spacious home with two independent units and panoramic views.
      6354 E Panorama Drive, Idaho Falls, ID 83401
      View Details
    • $2,790,000
      23,916 SF

      Idaho Falls Commercial Opportunity

      23,916 SF commercial property on 1.869 acres for sale.
      1463 Commerce Way, Idaho Falls, ID 83401
      View Details
    • $470,000
      1,596 SF

      Medical Office in Idaho Falls

      Turn-key medical office condo in prime Idaho Falls location.
      2860 Channing Way, Idaho Falls, ID 83404
      View Details
    • $520,000
      3,800 SF

      Idaho Falls Income-Producing Multifamily Property

      Four-unit multifamily property in Idaho Falls, generating $4,400 monthly.
      133 E 21st Street, Idaho Falls, ID 83404
      View Details
    • $1,200,000
      5,856 SF

      New Idaho Falls Fourplex

      New fourplex near shopping, restaurants, and schools.
      2400 Virlow, Idaho Falls, ID 83401
      View Details
    • $2,650,000
      12,300 SF

      Rebuilt Apartments in Downtown Idaho Falls

      Fully rebuilt 16-unit apartment building in downtown Idaho Falls.
      488 D Street, Idaho Falls, ID 83402
      View Details
    • $399,000
      3,028 SF

      Multifamily Investment Opportunity in Idaho Falls

      Income-producing multifamily property with value-add potential near downtown.
      400 N Eastern Avenue, Idaho Falls, ID 83402
      View Details
    • $470,000
      1,596 SF

      Medical Office Condo For Sale

      Turn-key medical office condo in Idaho Falls, move-in ready.
      2860 Channing Way, Idaho Falls, ID 83404
      View Details
    • $399,000
      2,020 SF

      Idaho Falls Turnkey Duplex

      Updated duplex in Idaho Falls, ideal for investors or owner-occupants.
      915 Ada Avenue, Idaho Falls, ID 83402
      View Details
    • $1,500,000
      6,337 SF

      Thriving Billiards Bar Opportunity

      Turnkey bar business with potential for music venue or restaurant.
      905 E Lincoln Road, Idaho Falls, ID 83401
      View Details
    • $4,250,000
      22,578 SF

      Renovated Apartment Building Near Riverwalk

      Fully renovated 27-unit apartment building in downtown Idaho Falls.
      350 E Street, Idaho Falls, ID 83402
      View Details
    • $399,000
      3,028 SF

      Multifamily Property in Idaho Falls

      Income-producing multifamily property with value-add potential near downtown amenities.
      400 N Eastern Avenue, Idaho Falls, ID 83402
      View Details

    FAQs

    What type of property is this?
    Quadplex - New fourplex under construction, estimated completion August 2026.
    Where is this quadplex located?
    The property is located at 3608 N Felix Way Idaho Falls, ID.
    What is the asking price?
    The asking price for this property is $850,000.
    What are key features of this property?
    This property features: New 4‑plex construction, offering a modern investment property.; Granite countertops and open concept design.; Spacious bedrooms.
    (208) 529-8888
    We can help!
    Listing Contact
    Ryan Webster
    Ryan Webster
    Real Estate License ID: SP30269
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    3608 N Felix Way, Idaho Falls, ID 83401
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!