New Construction 4-Plex
For Sale
$624,900
5405 Park Lawn Drive, Chubbuck, ID 83202
Residential Income, Chubbuck, ID
Property Size3,200 SF
Lot Size0.15 Acres
Price / SF$195.28
Days on Market177
Property Features for 5405 Park Lawn Drive
General Information
Property type
Residential Multi Family
Property subtype
Other
Property condition
Under Construction
Zoning description
General Zoning: Res-Multi-Family, Specific Zoning: Bannock-Residential Suburban
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 3, Bedroom 6, Bathroom 1, Bedroom 8, Bedroom 7, Bedroom 1, Bathroom 2, Bedroom 5, Bedroom 2, Bedroom 4, Bathroom 4, Bathroom 3
Basement
Crawl Space
Appliances
Separate Water Heaters, Dishwasher, Microwave, Refrigerator, Oven, Stove
Lot features
Interstate Exit/ Access, Near Mall/ Shop, Flower Beds, Sprinkler- Auto, Sprinkler System- Full
Elementary school
Ellis
Middle school
Alameda Middle School
High school
Highland
Directions
From New Day Parkway turn left on Yellowstone ave, Left on Briscoe follow round about to Park Lawn all units are on the West side of Park Lawn.
Standard status
Active
APN
RPRCLP2000300
Size
3,200 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LOT 3 BLOCK 1 LEGACY PARK DIVISION 2
Tax Annual Amount
0
HOA Fee
$320 Monthly
Legal Description
LOT 3 BLOCK 1 LEGACY PARK DIVISION 2
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating)
Cooling system
Ductless, Zoned
Water source
Public
Amenities
Granite countertops
LVP flooring
PTAC heating and air conditioning
Appliances included
Building Details
Year built
2026
Number of units
4
Building materials
Stone, Vinyl Siding
Listing Agency:
RE/MAX Country Real Estate · RE/MAX International
(208) 234-4444
Listed By:
Chris Robinson · License #SP28325
(208) 234-4444
Added: Feb 25
Changed: Aug 19
Last Checked: Aug 21 at 7:06PM
MLS# 2182137
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.
A turnkey-style new construction 4-plex investment opportunity featuring two-bedroom layouts in each unit. The property is currently under construction with an estimated year built of 2026. At approximately 3,200 square feet, the design emphasizes low-maintenance living with granite countertops, LVP flooring, and durable stone and vinyl siding.
Interior comfort includes ptac heating and ac in the living room, with electric heating and ductless, zoned cooling. A fire suppression system is included. Appliances are included as listed, with the exception of washer and dryer. Separate water heaters are provided.
Public water and public sewer service support the property, and the site sits on a 0.15-acre lot at 5405 Park Lawn Drive in Chubbuck, Idaho.
Interior comfort includes ptac heating and ac in the living room, with electric heating and ductless, zoned cooling. A fire suppression system is included. Appliances are included as listed, with the exception of washer and dryer. Separate water heaters are provided.
Public water and public sewer service support the property, and the site sits on a 0.15-acre lot at 5405 Park Lawn Drive in Chubbuck, Idaho.
Key Highlights
- Under construction with an estimated 2026 year built
- 4‑plex design with two‑bedroom layouts in each unit
- Approximately 3,200 square feet on a 0.15‑acre lot
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
$21,591
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
3.46%
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%
$431,820
$431.8K
Cap Rate 7%
$308,443
$308.4K
Cap Rate 9%
$239,900
$239.9K
Market Conditions
NOI Build-Up for 3,200 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
$32.6K $10.20/SF
− Vacancy
−$1.8K −$0.56/SF
EGI
$30.8K $9.64/SF
− OpEx
−$9.3K −$2.89/SF
NOI
$21.6K $6.75/SF
Area
Bannock County, ID
Vacancy
5.50%
Lease Rate
$10.20 /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%
$431,820
Cap Rate 7%
$308,443
Cap Rate 9%
$239,900
Alternative Uses
Best Use
Multifamily LT 5
$308.4K
$269.9K – $359.9K
NOI $21,591 @ 7.0% cap · market cap 3.46%
Second Best
Apartment 5plus
$287.2K
$251.3K – $335.1K
NOI $20,106 @ 7.0% cap · market cap 3.22%
Theoretical Best
Office A
$530.2K
$464.0K – $618.6K
NOI $37,117 @ 7.0% cap · market cap 5.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
190
Businesses Nearby
Explore this area
Business Placement
Demographics for 83202, ID
24,441
Population
8,866
Households
2.8
Avg Household Size
34
Median Age
23%
College-Educated
93%
High-School Grad
166.8 sq mi
ZIP Area
147
Density / Sq Mi
$68,118
Median Household Income
$39,341
Median Earnings
$941
Median Rent
$300,600
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?
Quadplex - Under-construction 4-plex on a 0.15-acre lot with two-bedroom units, public utilities, and modern finishes.
Where is this quadplex located?
The property is located at 5405 Park Lawn Drive Chubbuck, ID.
What is the asking price?
The asking price for this property is $624,900.
What are key features of this property?
This property features: Under construction with an estimated 2026 year built; 4‑plex design with two‑bedroom layouts in each unit; Approximately 3,200 square feet on a 0.15‑acre lot
