Triplex with Insulated
For Sale
$799,999
Pending
564 S Blue Lakes Blvd, Twin Falls, ID 83301
Residential Income, Twin Falls, ID
Property Size4,825 SF
Lot Size4.00 Acres
Days on Market172
Property Features for 564 S Blue Lakes Blvd
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
R-4
Bedrooms
9
Bathrooms
5
Full bathrooms
5
Rooms
Bedroom 4, Bedroom 3, Bathroom 1, Bedroom 9, Bathroom 5, Bathroom 3, Bathroom 4, Bedroom 6, Bedroom 5, Bedroom 8, Bedroom 7, Bedroom 1, Bedroom 2, Bathroom 2
Parking
8
Parking features
RV
Fencing
Fenced
Fireplace
1
Appliances
Disposal (No Units), Stove/Range (All Units), Refrigerator (All Units), Washer/Dryer (No Units)
Subdivision
0 Not Applic.
Lot features
1 - 4.99 Acres, Dog Run, Garden, Irrigation, R. V. Parking
Elementary school
Oregon Trail
Middle school
South Hills
High school
Twin Falls
Elementary school district
Twin Falls School District #411
Middle school district
Twin Falls School District #411
High school district
Twin Falls School District #411
Directions
Head South on Blue Lakes and home is on the West side of the road just past 3800 n/Park Ave.
Standard status
Pending
APN
RP10S17E217280
Size
4,825 SF
Lot size
4.00 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
Sec 21 T 10 R 17 S1/2 N 1/2 NE NE SE, EXC NE 100' x250' & EXC E 30' HWY
Tax Annual Amount
3309
Legal Description
Sec 21 T 10 R 17 S1/2 N 1/2 NE NE SE, EXC NE 100' x250' & EXC E 30' HWY
Utilities
Sewer type
Septic Tank
Heating system
Fireplace(s), Forced Air, Baseboard, Wood, Natural Gas
Cooling system
Central Air
Water source
Well
Water front features
Pond
Building Details
Year built
1948
Number of units
3
Flooring type
Vinyl
Building materials
Stone, Wood Siding
Roof type
Metal, Composition, Wood
Listing Agency:
Century 21 Gateway
(208) 733-5600
Listed By:
Heidi Casdorph · License #sp42626
(208) 420-8978
Added: Mar 13
Changed: Aug 20
Last Checked: Aug 31 at 2:06AM
MLS# 98977946
Copyright © 2026 Intermountain Multiple Listing Service. 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.
Built in 1948, this 4,825-square-foot triplex comprises three separately metered residences on 4 acres. The primary residence contains 4 bedrooms and 2 bathrooms, along with nearly 1,000 sq ft of insulated garage area that can support storage or workspace needs. A second residence above the garage offers 3 bedrooms, 2 bathrooms, air conditioning, an updated kitchen, refreshed paint and carpet, and a private deck. The third unit is a 2-bedroom, 1-bath lava rock home with a new roof and updated carpet.
The property is currently fully rented, with existing leases ending in April 2026. Additional features include a pond, fencing, RV parking, central air, fireplaces, forced-air and baseboard heating, a private well, and a septic tank. The asset is located in Twin Falls, Idaho, at 564 S Blue Lakes Blvd.
The property is currently fully rented, with existing leases ending in April 2026. Additional features include a pond, fencing, RV parking, central air, fireplaces, forced-air and baseboard heating, a private well, and a septic tank. The asset is located in Twin Falls, Idaho, at 564 S Blue Lakes Blvd.
Key Highlights
- 4,825‑square‑foot triplex on 4 acres
- Three separately metered residences; property is fully rented
- Main residence has 4 bedrooms, 2 bathrooms, and nearly 1,000 sq ft of insulated garage space
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
$44,512
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
5.56%
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%
$890,240
$890.2K
Cap Rate 7%
$635,886
$635.9K
Cap Rate 9%
$494,578
$494.6K
Market Conditions
NOI Build-Up for 4,825 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
$66.6K $13.80/SF
− Vacancy
−$3.0K −$0.62/SF
EGI
$63.6K $13.18/SF
− OpEx
−$19.1K −$3.95/SF
NOI
$44.5K $9.23/SF
Area
Twin Falls County, ID
Vacancy
4.50%
Lease Rate
$13.80 /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%
$890,240
Cap Rate 7%
$635,886
Cap Rate 9%
$494,578
Alternative Uses
Best Use
Multifamily LT 5
$635.9K
$556.4K – $741.9K
NOI $44,512 @ 7.0% cap · market cap 5.56%
Second Best
Apartment 5plus
$572.1K
$500.6K – $667.5K
NOI $40,048 @ 7.0% cap · market cap 5.01%
Theoretical Best
Specialty Retail
$1.11M
$968.5K – $1.29M
NOI $77,481 @ 7.0% cap · market cap 9.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
252
Businesses Nearby
Explore this area
Business Placement
Demographics for 83301, ID
60,789
Population
24,466
Households
2.5
Avg Household Size
35
Median Age
24%
College-Educated
90%
High-School Grad
295.7 sq mi
ZIP Area
206
Density / Sq Mi
$62,388
Median Household Income
$36,276
Median Earnings
$1,011
Median Rent
$290,600
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?
Triplex - Three separately metered residences sit on a fenced four-acre property with a pond and RV parking.
Where is this triplex located?
The property is located at 564 S Blue Lakes Blvd Twin Falls, ID.
What is the asking price?
The asking price for this property is $799,999.
What are key features of this property?
This property features: 4,825‑square‑foot triplex on 4 acres; Three separately metered residences; property is fully rented; Main residence has 4 bedrooms, 2 bathrooms, and nearly 1,000 sq ft of insulated garage space
