Vintage Triplex Near Old
For Sale
$189,900
650 - 652 W Lander Street, Pocatello, ID 83204
Residential Income, Pocatello, ID
Property Size2,700 SF
Lot Size0.06 Acres
Price / SF$70.33
Days on Market94
Property Features for 650 - 652 W Lander Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning description
General Zoning: Res-Multi-Family, Specific Zoning: Bannock-Residential Suburban
Bedrooms
5
Bathrooms
4
Full bathrooms
3
Half bathrooms
1
Rooms
Bedroom 3, Bathroom 1, Basement, Bedroom 2, Bedroom 1, Bathroom 2, Bedroom 5, Bathroom 3, Bathroom 4, Bedroom 4
Basement
Partially Finished, Full
Appliances
Separate Water Heaters, Refrigerator, Oven, Stove
Subdivision
Pocatello Townsite-Ban
Lot features
Near Green Belt, Near Mall/ Shop, Near Park, Near Public Transit, Near Schools, Near Stream/ River, Established Lawn
Elementary school
Indian Hills
Middle school
Irving Jr High
High school
Pocatello High
Directions
2 blocks behind Pocatello High School
Special listing conditions
Real Estate Owned
Standard status
Active
APN
RPPOC377502
Size
2,700 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Lots 11 & 12, Blk 530
Tax Annual Amount
2405
Legal Description
Lots 11 & 12, Blk 530
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Baseboard
Water source
Public
Amenities
shared laundry area
Building Details
Year built
1920
Number of units
3
Building materials
Frame, Lap Siding, Wood Siding
Listing Agency:
Premier Properties Real Estate Co.
(208) 232-5025
Listed By:
Kim N Jorgensen
(208) 223-7171
Added: Jul 2
Changed: Sep 27
Last Checked: Oct 3 at 6:06PM
MLS# 2184894
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 2,700-square-foot triplex was built in 1920 and features a frame structure with lap and wood siding. Vinyl windows complement selective improvements to the kitchen cabinetry and bathrooms. Each unit has its own electric meter and water heater, while laundry facilities are shared. Included appliances are refrigerators, ovens, and stoves, with baseboard electric heating throughout.
The property occupies 0.06 acres at 650 - 652 W Lander Street in Pocatello. Its setting near Old Town places it close to the farmers market, local restaurants, parks, and the greenbelt. Public water and public sewer serve the property.
The property occupies 0.06 acres at 650 - 652 W Lander Street in Pocatello. Its setting near Old Town places it close to the farmers market, local restaurants, parks, and the greenbelt. Public water and public sewer serve the property.
Key Highlights
- Triplex building with 2,700 square feet of property size
- Built in 1920 with frame construction, lap siding, and wood siding
- Separate electric meters and separate water heaters
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
$16,965
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
8.93%
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%
$339,300
$339.3K
Cap Rate 7%
$242,357
$242.4K
Cap Rate 9%
$188,500
$188.5K
Market Conditions
NOI Build-Up for 2,700 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
$32.4K $12.00/SF
− Vacancy
−$1.6K −$0.58/SF
EGI
$30.8K $11.42/SF
− OpEx
−$13.9K −$5.14/SF
NOI
$17.0K $6.28/SF
Area
Bannock County, ID
Vacancy
4.80%
Lease Rate
$12.00 /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%
$339,300
Cap Rate 7%
$242,357
Cap Rate 9%
$188,500
Alternative Uses
Best Use
Multifamily LT 5
$260.3K
$227.7K – $303.6K
NOI $18,218 @ 7.0% cap · market cap 9.59%
Second Best
Apartment 5plus
$242.4K
$212.1K – $282.8K
NOI $16,965 @ 7.0% cap · market cap 8.93%
Theoretical Best
Office A
$447.4K
$391.5K – $522.0K
NOI $31,318 @ 7.0% cap · market cap 16.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,073
Businesses Nearby
Explore this area
Business Placement
Demographics for 83204, ID
18,408
Population
8,238
Households
2.2
Avg Household Size
38
Median Age
32%
College-Educated
94%
High-School Grad
280.1 sq mi
ZIP Area
66
Density / Sq Mi
$55,191
Median Household Income
$33,806
Median Earnings
$748
Median Rent
$233,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Separate electric meters and water heaters support distinct utility management across the residences.
Where is this triplex located?
The property is located at 650 - 652 W Lander Street Pocatello, ID.
What is the asking price?
The asking price for this property is $189,900.
What are key features of this property?
This property features: Triplex building with 2,700 square feet of property size; Built in 1920 with frame construction, lap siding, and wood siding; Separate electric meters and separate water heaters
