Fourplex with Detached
New
For Sale
$550,000
Pending
535 W Anderson, Idaho Falls, ID 83402
Residential Income, Idaho Falls, ID
Property Size3,264 SF
Lot Size0.17 Acres
Days on Market4
Property Features for 535 W Anderson
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning description
General Zoning: Tn-Trad Neigh, Specific Zoning: Idaho Falls-Tn-Traditional Nbh
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 7, Bedroom 8, Bedroom 5, Bathroom 4, Bedroom 1, Bathroom 2, Bedroom 4, Bedroom 2, Bedroom 6, Bathroom 3, Bedroom 3, Bathroom 1
Parking
4
Parking features
Off Street, Garage
Appliances
Separate Water Heaters, Dishwasher, Refrigerator, Oven, Stove
Subdivision
Highland Park-Bon
Lot features
Near Schools, Concrete Curbing, Established Lawn, Sprinkler- Auto, Sprinkler System- Full
Elementary school
Bush 91EL
Middle school
Eagle Rock 91JH
High school
Skyline 91HS
Directions
Start at Fred Meyer and head northeast toward E Anderson St. Turn left onto E Anderson St., then turn left onto North Blvd. Continue with a slight right onto W Anderson St., cornering W Anderson st. and Blaine Ave, destination is on your left.
Standard status
Pending
APN
RPA1040031020A
Size
3,264 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
N 5' LOT 20, 6916 SQ FT VACATED ANDERSON ST, BLOCK 31, HIGHLAND PARK NW1/4, SEC 18, T 2N, R 38 UNITS 4
Tax Annual Amount
4380
Legal Description
N 5' LOT 20, 6916 SQ FT VACATED ANDERSON ST, BLOCK 31, HIGHLAND PARK NW1/4, SEC 18, T 2N, R 38 UNITS 4
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating)
Water source
Public
Amenities
off-street parking
detached garages
shared lawn area
established landscaping
Building Details
Year built
1978
Number of units
4
Building materials
Frame, Vinyl Siding
Roof type
Membrane
Listing Agency:
Real Broker LLC
(509) 990-2525
Listed By:
Austin Jacobs · License #47428
(208) 841-3088
Added: Sep 24
Changed: Sep 25
Last Checked: Sep 27 at 12:06PM
MLS# 2189450
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 four-unit residential property contains 3,264 square feet across apartments configured with two bedrooms and one bathroom apiece. Detached garages provide additional parking and storage, while off-street parking and a shared lawn serve the property. The building dates to 1978 and has frame construction with vinyl siding. Electric heating, public water and public sewer are in place.
The property occupies a 0.17-acre site in Idaho Falls. Individual appliances listed for the property include dishwashers, refrigerators, ovens and stoves; separate water heaters are also noted.
The property occupies a 0.17-acre site in Idaho Falls. Individual appliances listed for the property include dishwashers, refrigerators, ovens and stoves; separate water heaters are also noted.
Key Highlights
- Four apartments, each with 2 bedrooms and 1 bathroom
- 3,264 square feet on a 0.17‑acre site
- Detached garages, plus off‑street parking
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
$27,493
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
5.00%
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%
$549,860
$549.9K
Cap Rate 7%
$392,757
$392.8K
Cap Rate 9%
$305,478
$305.5K
Market Conditions
NOI Build-Up for 3,264 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
$41.1K $12.60/SF
− Vacancy
−$1.9K −$0.57/SF
EGI
$39.3K $12.03/SF
− OpEx
−$11.8K −$3.61/SF
NOI
$27.5K $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%
$549,860
Cap Rate 7%
$392,757
Cap Rate 9%
$305,478
Alternative Uses
Best Use
Multifamily LT 5
$392.8K
$343.7K – $458.2K
NOI $27,493 @ 7.0% cap · market cap 5.00%
Second Best
Apartment 5plus
$355.3K
$310.9K – $414.5K
NOI $24,869 @ 7.0% cap · market cap 4.52%
Theoretical Best
Office A
$721.1K
$631.0K – $841.3K
NOI $50,480 @ 7.0% cap · market cap 9.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
229
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Four two-bedroom apartments provide a consistent unit mix, with one bathroom in each residence.
Where is this quadplex located?
The property is located at 535 W Anderson Idaho Falls, ID.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Four apartments, each with 2 bedrooms and 1 bathroom; 3,264 square feet on a 0.17‑acre site; Detached garages, plus off‑street parking
