Single-Level Apartment
For Sale
$4,375,000
3834 3rd, Post Falls, ID 83854
Thirteen residences offer a mix of one- and two-bedroom layouts with side-by-side construction.
Property Size16,862 SF
Price / SF$259.46
Days on Market78
Property Features for 3834 3rd
General Information
Standard status
Active
Size
16,862 SF
Property subtype
Residential Income
Units
Unit Mix
8 x 2BR/2BA, 5 x 1BR/1BA
Multifamily Units
13
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$16,420
Listing Agency:
SVN Cornerstone Commercial
(509) 321-2000
Listed By:
Jordan Lester · License #1271842
(509) 496-6922
Source:
Exprealty
Added: Jun 18
Changed: Sep 2
Last Checked: Sep 2 at 1:04AM
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 SVN Cornerstone Commercial
Investment Insights
Based on property information with market context.
This apartment community contains 13 residences across a combination of duplex and single-family configurations. The homes are arranged as one-level, side-by-side units, with eight two-bedroom, two-bath residences and five one-bedroom, one-bath residences. The property encompasses 16,862 square feet and includes resident amenities referenced in the property information.
The community is positioned in Post Falls with access to shopping, dining, healthcare, employment centers, and outdoor recreation. Interstate 90 provides connectivity toward Coeur d’Alene and Spokane, supporting access to both regional employment and service areas.
The community is positioned in Post Falls with access to shopping, dining, healthcare, employment centers, and outdoor recreation. Interstate 90 provides connectivity toward Coeur d’Alene and Spokane, supporting access to both regional employment and service areas.
Key Highlights
- 13‑unit apartment community with duplex and single‑family configurations
- Eight 2bed/2bath units and five 1bed/1bath units
- One‑level, side‑by‑side residential layout
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
$142,428
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
3.26%
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%
$2,848,560
$2.8M
Cap Rate 7%
$2,034,686
$2.0M
Cap Rate 9%
$1,582,533
$1.6M
Market Conditions
NOI Build-Up for 16,862 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
$273.2K $16.20/SF
− Vacancy
−$14.2K −$0.84/SF
EGI
$259.0K $15.36/SF
− OpEx
−$116.5K −$6.91/SF
NOI
$142.4K $8.45/SF
Area
Kootenai County, ID
Vacancy
5.20%
Lease Rate
$16.20 /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%
$2,848,560
Cap Rate 7%
$2,034,686
Cap Rate 9%
$1,582,533
Alternative Uses
Best Use
Apartment 5plus
$2.03M
$1.78M – $2.37M
NOI $142,428 @ 7.0% cap · market cap 3.26%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.66M
$3.20M – $4.27M
NOI $256,046 @ 7.0% cap · market cap 5.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
13
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
406
Businesses Nearby
Explore this area
Business Placement
Demographics for 83854, ID
49,040
Population
20,440
Households
2.4
Avg Household Size
37
Median Age
23%
College-Educated
92%
High-School Grad
77.6 sq mi
ZIP Area
632
Density / Sq Mi
$72,820
Median Household Income
$41,223
Median Earnings
$1,311
Median Rent
$433,700
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 - Thirteen residences offer a mix of one- and two-bedroom layouts with side-by-side construction.
Where is this apartment building located?
The property is located at 3834 3rd Post Falls, ID.
What is the asking price?
The asking price for this property is $4,375,000.
What are key features of this property?
This property features: 13‑unit apartment community with duplex and single‑family configurations; Eight 2bed/2bath units and five 1bed/1bath units; One‑level, side‑by‑side residential layout
