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    Rexburg Multifamily Investment Opportunity Title is generated by Realmo AI

    425 Harvard Ave, Rexburg, ID 83440

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    Claim this Listing
    For Sale
    $2,100,000

    MULTI_FAMILY - Rexburg, ID

    Property size:
    915 SF
    Lot size:
    0.80 Acres
    Price / SF:
    $2,295/SF
    Added:
    Jan 15, 2026
    Days on Market:
    121
    Last Refresh:
    May 16 at 6:06 pm

    Property Features for 425 Harvard Ave

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Property condition
    Under Construction
    Bedrooms
    16
    Bathrooms
    8
    Rooms
    Bathroom 7, Bedroom 1, Bedroom 10, Bathroom 5, Bedroom 2, Bedroom 15, Bedroom 16, Bedroom 11, Bathroom 3, Bathroom 1, Bedroom 8, Bedroom 5, Bedroom 12, Bathroom 8, Bathroom 6, Bathroom 4, Bedroom 3, Bedroom 4, Bathroom 2, Bedroom 7, Bedroom 14, Bedroom 6, Bedroom 13, Bedroom 9
    Parking
    8
    Parking features
    Garage
    Interior features
    Cable TV, Wired for Data, Network Ready
    Appliances
    Separate Water Heaters, Dishwasher, Dryer, Microwave, Refrigerator, Washer
    Standard status
    Active
    APN
    RPR0SHS0010010
    Size
    915 SF
    Lot size
    0.80 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    SHERWOOD HILLS DUB DIV NO. 1 LOT 1 BLOCK 1
    Tax Annual Amount
    2538

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Electric (Heating), Ductless (Heating)
    Cooling system
    Ductless, Zoned
    Water source
    Public

    Building Details

    Year built
    2024
    Number of units
    8
    Building materials
    Stucco, Vinyl Siding, Stone
    Roof type
    Metal

    We can help!

    Listing Contact
    Tonya Bunnell
    Tonya Bunnell

    Listing agent Tonya Bunnell License #SP45193

    Listing office Silvercreek Realty Group 2002 Jennie Lee Dr, Meridian, ID

    Listing date Jan 15, 2026

    MLS# 2177619 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

    • Prime location steps from BYU‑Idaho, ideal for attracting student tenants.
    • Four new twin home buildings with a total of eight separate units, offering substantial rental income potential.
    • Modern units featuring quartz countertops, LVP flooring with in‑floor heating, and ductless mini‑split AC units.
    • Each unit includes two bedrooms with ample storage (two closets per bedroom) and in‑unit washer and dryer for tenant convenience.
    • Keyless entries and enclosed parking for each tenant, enhancing security and convenience.
    • Newly constructed in 2024, minimizing maintenance costs and maximizing appeal to renters.

    Overview

    This multifamily property, located steps from BYU-Idaho, presents an investment opportunity. The property consists of four twin homes situated on a 0.8-acre lot, totaling 7,320 square feet of livable space. Each of the four buildings contains two separate units. Each unit features two bedrooms and one bathroom, suitable for tenants seeking modern living. The upper units have vaulted ceilings, while the lower units feature 9-foot ceilings. The units are designed with quartz countertops and LVP flooring with in-floor heating, and efficient ductless mini-split AC units. Each bedroom includes two closets, and keyless entries and in-unit washers and dryers add to the living convenience. Enclosed parking is available for each tenant. The property has the potential for rental income and long-term appreciation.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Rexburg
    County
    Madison
    State
    Idaho
    Longitude
    -111.776198
    Latitude
    43.817086

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    FAQs

    What type of property is this?
    Apartment building - Investment opportunity near BYU-Idaho with steady rental income potential.
    Where is this apartment building located?
    The property is located at 425 Harvard Ave Rexburg, ID.
    What is the asking price?
    The asking price for this property is $2,100,000.
    What are key features of this property?
    This property features: Prime location steps from BYU‑Idaho, ideal for attracting student tenants.; Four new twin home buildings with a total of eight separate units, offering substantial rental income potential.; Modern units featuring **quartz countertops, LVP flooring with in‑floor heating, and ductless mini‑split AC units.**
    (208) 523-6111
    We can help!
    Listing Contact
    Tonya Bunnell
    Tonya Bunnell
    Real Estate License ID: SP45193
    Learn More
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    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
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