Senior Housing Duplex
For Sale
Contact for pricing
3834 E 3rd Ave, Post Falls, ID 83854
13 one-level duplex and single-family units offer mix of 2- and 1-bedroom layouts for senior living operations.
Property Size16,862 SF
Price / SF$259.46
Days on Market55
Property Features for 3834 E 3rd Ave
General Information
Standard status
Active
Size
16,862 SF
Class
B
Property subtype
Multifamily, Senior Living
Occupancy
100%
Net Operating Income
$263,814
Additional Details
Highway Access
Yes
Multifamily Units
13
Building Details
Year Built
2003
Buildings
7
Units
13
Tenancy
Multi
Listing Agency:
SVN | Cornerstone
(509) 496-6922
Listed By:
Jordan Lester, CCIM, MBA · License #21008495
Source:
Crexi
Added: Jun 18
Changed: Aug 8
Last Checked: Aug 11 at 7:02AM
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
Investment Insights
Based on property information with market context.
SVN Cornerstone presents Ridgewood Gardens, a 13-unit senior housing community built as a combination of duplex and single-family homes. The property features one-level, side-by-side residences, including eight 2-bedroom/2-bath units and five 1-bedroom/1-bath units. Resident amenities are described as “numerous,” supporting an on-site living experience tailored to seniors.
Ridgewood Gardens is located at 3834 E 3rd Ave in Post Falls, Idaho, and is positioned for everyday convenience, with access to shopping, dining, healthcare, employment centers, and outdoor recreation. The property also provides quick connectivity to both Coeur d’Alene and Spokane via I-90.
For investors and operators, the unit mix provides flexibility, with larger 2-bedroom/2-bath layouts alongside smaller 1-bedroom/1-bath options within the same one-level community design. The duplex and single-family configuration may appeal to operators seeking a lower-profile resident environment rather than a multi-story apartment format. Ridgewood Gardens is also offered against a local backdrop of continued population growth in Kootenai County, cited at about 1.81% annually in 2026, outpacing the national average.
Ridgewood Gardens is located at 3834 E 3rd Ave in Post Falls, Idaho, and is positioned for everyday convenience, with access to shopping, dining, healthcare, employment centers, and outdoor recreation. The property also provides quick connectivity to both Coeur d’Alene and Spokane via I-90.
For investors and operators, the unit mix provides flexibility, with larger 2-bedroom/2-bath layouts alongside smaller 1-bedroom/1-bath options within the same one-level community design. The duplex and single-family configuration may appeal to operators seeking a lower-profile resident environment rather than a multi-story apartment format. Ridgewood Gardens is also offered against a local backdrop of continued population growth in Kootenai County, cited at about 1.81% annually in 2026, outpacing the national average.
Key Highlights
- Ridgewood Gardens is a 13‑unit one‑level duplex and single‑family community in Post Falls, Idaho (3834 E 3rd Ave).
- Unit mix includes eight 2 bed/2 bath units and five 1 bed/1 bath units.
- Year built: 2003.
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
Under-served
Demand for This Use
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Senior housing / Retirement Home - 13 one-level duplex and single-family units offer mix of 2- and 1-bedroom layouts for senior living operations.
Where is this senior housing / retirement home located?
The property is located at 3834 E 3rd Ave 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: Ridgewood Gardens is a 13‑unit one‑level duplex and single‑family community in Post Falls, Idaho (3834 E 3rd Ave).; Unit mix includes eight 2 bed/2 bath units and five 1 bed/1 bath units.; Year built: 2003.
