6-Unit Apartment Building with
For Sale
$1,100,000
Pending
601 John Adams Ct, Idaho Falls, ID 83401
Two-level residences feature private decks, open upper living areas, and detached garages.
Property Size6,048 SF
Days on Market28
Property Features for 601 John Adams Ct
General Information
Standard status
Pending
Size
6,048 SF
Property subtype
Residential Income
Units
Multifamily Units
6
Parking per Unit
2
Taxes and HOA fees
Annual Taxes
$9,132
Amenities
private deck
Listing Agency:
Century 21 High Desert
(208) 521-2827
Listed By:
Kerry Howell · License #23797
(208) 521-2827
Source:
Exprealty
Added: Jul 15
Changed: Aug 10
Last Checked: Aug 10 at 8:06AM
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 Century 21 High Desert
Investment Insights
Based on property information with market context.
This 6-unit apartment building contains 6048 square feet and offers a consistent two-level layout across the residences. Each unit includes two bedrooms, one bathroom, and an upper-level arrangement combining the living room, kitchen, and dining area. Private decks extend toward the backyard, while every unit is paired with a detached two-car garage.
The property is positioned near schools and shopping in Idaho Falls. HOA services cover exterior maintenance, snow removal, and lawn care, providing a defined scope of ongoing property services for the apartment building.
The property is positioned near schools and shopping in Idaho Falls. HOA services cover exterior maintenance, snow removal, and lawn care, providing a defined scope of ongoing property services for the apartment building.
Key Highlights
- 6‑unit apartment building totaling 6048 square feet
- Each residence offers 2 bedrooms and 1 bathroom
- Two‑level units with upper‑level living, kitchen, and dining areas
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
$46,080
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
4.19%
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%
$921,600
$921.6K
Cap Rate 7%
$658,286
$658.3K
Cap Rate 9%
$512,000
$512.0K
Market Conditions
NOI Build-Up for 6,048 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
$87.1K $14.40/SF
− Vacancy
−$3.3K −$0.55/SF
EGI
$83.8K $13.85/SF
− OpEx
−$37.7K −$6.23/SF
NOI
$46.1K $7.62/SF
Area
Bonneville County, ID
Vacancy
3.80%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
45.00%
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%
$921,600
Cap Rate 7%
$658,286
Cap Rate 9%
$512,000
Alternative Uses
Best Use
Apartment 5plus
$658.3K
$576.0K – $768.0K
NOI $46,080 @ 7.0% cap · market cap 4.19%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.34M
$1.17M – $1.56M
NOI $93,536 @ 7.0% cap · market cap 8.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
736
Businesses Nearby
Explore this area
Business Placement
Demographics for 83401, ID
47,114
Population
16,026
Households
2.9
Avg Household Size
31
Median Age
30%
College-Educated
90%
High-School Grad
197.3 sq mi
ZIP Area
239
Density / Sq Mi
$75,870
Median Household Income
$35,293
Median Earnings
$1,132
Median Rent
$307,700
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Two-level residences feature private decks, open upper living areas, and detached garages.
Where is this apartment building located?
The property is located at 601 John Adams Ct Idaho Falls, ID.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: 6‑unit apartment building totaling 6048 square feet; Each residence offers 2 bedrooms and 1 bathroom; Two‑level units with upper‑level living, kitchen, and dining areas
