Multifamily Property with Flex
For Sale
$515,000
492 G St, Idaho Falls, ID 83402
Renovated historic residence includes a separate apartment and heated auxiliary building with workspace and residential features.
Property Size3,061 SF
Price / SF$168.25
Days on Market23
Property Features for 492 G St
General Information
Standard status
Active
Size
3,061 SF
Property subtype
Multi-Family
Building Details
Year Built
1915
Listing Agency:
Keller Williams Realty East Idaho
(404) 668-6621
Listed By:
The Perfect Home Team · License #1999023818
Source:
Noplacelikeidaho
Added: Aug 10
Changed: Aug 30
Last Checked: Aug 30 at 8:01PM
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 Keller Williams Realty East Idaho
Investment Insights
Based on property information with market context.
This multifamily property combines a renovated historic residence with a separate one-bedroom apartment and a 2020-built heated flex building. The auxiliary structure includes a full kitchen, full bathroom, loft bedroom, and garage, creating a substantial second space alongside the main dwelling. The property offers three distinct areas within one holding, including a dedicated apartment and flexible building suitable for workshop, studio, hobby, home-business, guest, or household use as supported by the existing configuration.
Located at 492 G St in Idaho Falls, the property is 2 blocks from downtown, the Farmers Market, and the Greenbelt. The combination of historic residential character, a newer accessory building, and a separate apartment provides a varied multifamily layout near established downtown amenities.
Located at 492 G St in Idaho Falls, the property is 2 blocks from downtown, the Farmers Market, and the Greenbelt. The combination of historic residential character, a newer accessory building, and a separate apartment provides a varied multifamily layout near established downtown amenities.
Key Highlights
- Renovated historic residence paired with a separate one‑bedroom apartment
- 2020‑built heated flex building with 1,250 sq. ft.
- Flex building includes a full kitchen, full bathroom, loft bedroom, and garage
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
$33,169
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
6.44%
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%
$663,380
$663.4K
Cap Rate 7%
$473,843
$473.8K
Cap Rate 9%
$368,544
$368.5K
Market Conditions
NOI Build-Up for 3,061 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
$51.4K $16.80/SF
− Vacancy
−$7.2K −$2.35/SF
EGI
$44.2K $14.45/SF
− OpEx
−$11.1K −$3.61/SF
NOI
$33.2K $10.84/SF
Area
Bonneville County, ID
Vacancy
14.00%
Lease Rate
$16.80 /SF/Yr
Expense Ratio
25.00%
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%
$663,380
Cap Rate 7%
$473,843
Cap Rate 9%
$368,544
Alternative Uses
Best Use
Office B
$473.8K
$414.6K – $552.8K
NOI $33,169 @ 7.0% cap · market cap 6.44%
Second Best
Apartment 5plus
$333.2K
$291.5K – $388.7K
NOI $23,322 @ 7.0% cap · market cap 4.53%
Theoretical Best
Office A
$676.3K
$591.8K – $789.0K
NOI $47,340 @ 7.0% cap · market cap 9.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,452
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
Market
Vacancy Rate% for Office 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?
Multifamily property - Renovated historic residence includes a separate apartment and heated auxiliary building with workspace and residential features.
Where is this multifamily property located?
The property is located at 492 G St Idaho Falls, ID.
What is the asking price?
The asking price for this property is $515,000.
What are key features of this property?
This property features: Renovated historic residence paired with a separate one‑bedroom apartment; 2020‑built heated flex building with 1,250 sq. ft.; Flex building includes a full kitchen, full bathroom, loft bedroom, and garage
