Remodeled Apartment
For Sale
$669,000
412 Main Ave N, Twin Falls, ID 83301
Updated multifamily property with refreshed interiors, modernized building systems, and shared laundry capability.
Property Size3,116 SF
Price / SF$214.70
Days on Market165
Property Features for 412 Main Ave N
General Information
Standard status
Active
Size
3,116 SF
Total Parking Spaces
5
Property subtype
Income
Taxes and HOA fees
Annual Taxes
$4,345
Amenities
laundry room
Vinyl Sheet
Yes
5
4
Washer/Dryer Hookups (All Units)
Walk In Shower
Square Feet
Standard Lot 6000-9999 SF
City Service
0.14
50x125
3116
Building Details
Building Size
3,116 SF
Year Built
1915
Buildings
1
Listing Agency:
Land and Wildlife LLC
(208) 340-6879
Listed By:
Rhett Reed
(208) 340-6879
Source:
Homesofidaho
Added: Mar 21
Changed: Aug 30
Last Checked: Aug 30 at 9:07PM
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 Land and Wildlife LLC
Investment Insights
Based on property information with market context.
Built in 1915, this 3,116-square-foot apartment building combines an older architectural character with extensive recent improvements. Each unit has been remodeled with refinished hardwood floors, new fixtures, trim work, and updated plumbing components. The property also features new vinyl windows throughout, exterior paint, refreshed soffits, fascia and gutters, roof seal work, new decking, and a new main sewer line.
A new oversized electrical panel with 3 meters supports the building. The shared laundry room is configured for 3 stackable washer and dryer sets, and plans already account for a potential 6th unit. The property has supported both long-term and short-term rental arrangements, providing flexibility in operating strategy. Located at 412 Main Ave N in Twin Falls, Idaho, the building sits on a 0.14-acre lot measuring 50x125.
A new oversized electrical panel with 3 meters supports the building. The shared laundry room is configured for 3 stackable washer and dryer sets, and plans already account for a potential 6th unit. The property has supported both long-term and short-term rental arrangements, providing flexibility in operating strategy. Located at 412 Main Ave N in Twin Falls, Idaho, the building sits on a 0.14-acre lot measuring 50x125.
Key Highlights
- 3,116 SF apartment building constructed in 1915
- Every unit remodeled with refinished hardwood floors and updated fixtures
- New vinyl windows, exterior paint, soffits, fascia, gutters, and roof seal work
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
$25,863
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
3.87%
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%
$517,260
$517.3K
Cap Rate 7%
$369,471
$369.5K
Cap Rate 9%
$287,367
$287.4K
Market Conditions
NOI Build-Up for 3,116 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
$49.0K $15.72/SF
− Vacancy
−$2.0K −$0.63/SF
EGI
$47.0K $15.09/SF
− OpEx
−$21.2K −$6.79/SF
NOI
$25.9K $8.30/SF
Area
Twin Falls County, ID
Vacancy
4.00%
Lease Rate
$15.72 /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%
$517,260
Cap Rate 7%
$369,471
Cap Rate 9%
$287,367
Alternative Uses
Best Use
Apartment 5plus
$369.5K
$323.3K – $431.1K
NOI $25,863 @ 7.0% cap · market cap 3.87%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$714.8K
$625.5K – $834.0K
NOI $50,038 @ 7.0% cap · market cap 7.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,321
Businesses Nearby
Explore this area
Business Placement
Demographics for 83301, ID
60,789
Population
24,466
Households
2.5
Avg Household Size
35
Median Age
24%
College-Educated
90%
High-School Grad
295.7 sq mi
ZIP Area
206
Density / Sq Mi
$62,388
Median Household Income
$36,276
Median Earnings
$1,011
Median Rent
$290,600
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?
Apartment building - Updated multifamily property with refreshed interiors, modernized building systems, and shared laundry capability.
Where is this apartment building located?
The property is located at 412 Main Ave N Twin Falls, ID.
What is the asking price?
The asking price for this property is $669,000.
What are key features of this property?
This property features: 3,116 SF apartment building constructed in 1915; Every unit remodeled with refinished hardwood floors and updated fixtures; New vinyl windows, exterior paint, soffits, fascia, gutters, and roof seal work
