Updated Triplex with Detached
For Sale
$329,000
437 W Crowley Street, Idaho Falls, ID 83402
Residential Income, Idaho Falls, ID
Property Size1,928 SF
Lot Size0.14 Acres
Price / SF$170.64
Days on Market71
Property Features for 437 W Crowley Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning description
General Zoning: Tn-Trad Neigh, Specific Zoning: Idaho Falls-Tn-Traditional Nbh
Bedrooms
4
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 3, Bedroom 4, Basement, Bedroom 2, Bathroom 3, Bathroom 1, Bedroom 1, Bathroom 2
Basement
Finished, Full, Daylight
Subdivision
Highland Park-Bon
Lot features
Low Traffic, Near Park, Near Schools, Established Lawn, Many Trees, Sprinkler- Manual, Level
Elementary school
Bush 91EL
Middle school
Eagle Rock 91JH
High school
Skyline 91HS
Directions
Lincoln & Holmes. Go west on Lincoln/Anderson. Turn left on Memorial. Left on Bear. Right on Crowley. Property on left.
Standard status
Active
APN
RPA1040051023A
Size
1,928 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LOTS 23-24, BLOCK 51, HIGHLAND PARK NW1/4, SEC 18, T 2N, R 38 UNITS 2
Tax Annual Amount
2101
Legal Description
LOTS 23-24, BLOCK 51, HIGHLAND PARK NW1/4, SEC 18, T 2N, R 38 UNITS 2
Utilities
Sewer type
Public Sewer
Heating system
Baseboard, Electric (Heating), Ceiling
Water source
Public
Building Details
Year built
1946
Number of units
3
Building materials
Vinyl Siding
Listing Agency:
Edge Real Estate
(208) 656-9400
Listed By:
Luke Stallings · License #SP32701
(208) 681-3009
Added: Jul 13
Changed: Sep 13
Last Checked: Sep 21 at 11:06AM
MLS# 2187103
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.
Investment Insights
Based on property information with market context.
This updated triplex contains 1,928 square feet on a 0.14-acre lot. The primary structure includes a two-bedroom, one-bath unit on the main level and a second two-bedroom, one-bath unit in the basement. A detached studio provides the third residence. The property was built in 1946 and has vinyl siding.
Located in Idaho Falls, the property is served by public water and public sewer. Heating includes baseboard, ceiling, and electric systems. The owner pays utilities, with tenants charged a utility reimbursement that is separate from the stated gross income.
Located in Idaho Falls, the property is served by public water and public sewer. Heating includes baseboard, ceiling, and electric systems. The owner pays utilities, with tenants charged a utility reimbursement that is separate from the stated gross income.
Key Highlights
- Three‑unit configuration with two 2‑bedroom, 1‑bath units and a detached studio
- 1,928‑square‑foot property on 0.14 acres
- Main‑level and basement apartments in the primary structure
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
$16,240
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
4.94%
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%
$324,800
$324.8K
Cap Rate 7%
$232,000
$232.0K
Cap Rate 9%
$180,444
$180.4K
Market Conditions
NOI Build-Up for 1,928 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
$24.3K $12.60/SF
− Vacancy
−$1.1K −$0.57/SF
EGI
$23.2K $12.03/SF
− OpEx
−$7.0K −$3.61/SF
NOI
$16.2K $8.42/SF
Area
Bonneville County, ID
Vacancy
4.50%
Lease Rate
$12.60 /SF/Yr
Expense Ratio
30.00%
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%
$324,800
Cap Rate 7%
$232,000
Cap Rate 9%
$180,444
Alternative Uses
Best Use
Multifamily LT 5
$232.0K
$203.0K – $270.7K
NOI $16,240 @ 7.0% cap · market cap 4.94%
Second Best
Apartment 5plus
$209.9K
$183.6K – $244.8K
NOI $14,690 @ 7.0% cap · market cap 4.47%
Theoretical Best
Office A
$426.0K
$372.7K – $497.0K
NOI $29,818 @ 7.0% cap · market cap 9.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
236
Businesses Nearby
Explore this area
Business Placement
Demographics for 83402, ID
28,452
Population
11,983
Households
2.4
Avg Household Size
34
Median Age
31%
College-Educated
92%
High-School Grad
171.0 sq mi
ZIP Area
166
Density / Sq Mi
$72,064
Median Household Income
$35,593
Median Earnings
$904
Median Rent
$301,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Triplex - Three-unit layout includes two two-bedroom apartments and a separate studio.
Where is this triplex located?
The property is located at 437 W Crowley Street Idaho Falls, ID.
What is the asking price?
The asking price for this property is $329,000.
What are key features of this property?
This property features: Three‑unit configuration with two 2‑bedroom, 1‑bath units and a detached studio; 1,928‑square‑foot property on 0.14 acres; Main‑level and basement apartments in the primary structure
