Updated Downtown
For Sale
$498,000
661 2nd Ave N, Twin Falls, ID 83301
Remodeled multi-level duplex with private suites, flexible rooms, and separate lower-level access.
Property Size3,320 SF
Price / SF$150
Days on Market201
Property Features for 661 2nd Ave N
General Information
Standard status
Active
Size
3,320 SF
Total Parking Spaces
4
Property subtype
Income
Taxes and HOA fees
Annual Taxes
$2,176
Amenities
Yes
3
5
Washer/Dryer Hookups (All Units)
Square Feet
Partial
Standard Lot 6000-9999 SF
City Service
0.14
4
Finished Driveway
3320
Building Details
Building Size
3,320 SF
Year Built
1912
Buildings
1
Listing Agency:
Refined Realty
(208) 442-8500
Listed By:
Nikki Owens
(208) 477-9783
Source:
Homesofidaho
Added: Feb 18
Changed: Sep 6
Last Checked: Jun 10 at 6:49PM
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 Refined Realty
Investment Insights
Based on property information with market context.
Built in 1912, this 3,320-square-foot duplex combines historic details with extensive modern improvements. The main level contains two private suites and a third room that can serve as a bedroom or office. Upstairs are two bedrooms, a full bathroom, and a kitchen, creating a separate configuration for long-term rental or Airbnb use.
Recent work includes electrical, plumbing, HVAC, roofing, stucco, and interior finishes. Original stained-glass windows and exposed ceiling beams retain the property's vintage character. The basement has its own entrance, plumbing stub-ins, and new concrete, providing space for storage or future development. A finished driveway is also included. The property is located in Downtown Twin Falls near entertainment, shopping, and local eateries.
Recent work includes electrical, plumbing, HVAC, roofing, stucco, and interior finishes. Original stained-glass windows and exposed ceiling beams retain the property's vintage character. The basement has its own entrance, plumbing stub-ins, and new concrete, providing space for storage or future development. A finished driveway is also included. The property is located in Downtown Twin Falls near entertainment, shopping, and local eateries.
Key Highlights
- 3,320 SF duplex built in 1912
- Main level includes two private suites plus a third bedroom or office
- Upper level features two bedrooms, a full bath, and a kitchen
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
$30,628
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
6.15%
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%
$612,560
$612.6K
Cap Rate 7%
$437,543
$437.5K
Cap Rate 9%
$340,311
$340.3K
Market Conditions
NOI Build-Up for 3,320 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
$45.8K $13.80/SF
− Vacancy
−$2.1K −$0.62/SF
EGI
$43.8K $13.18/SF
− OpEx
−$13.1K −$3.95/SF
NOI
$30.6K $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%
$612,560
Cap Rate 7%
$437,543
Cap Rate 9%
$340,311
Alternative Uses
Best Use
Multifamily LT 5
$437.5K
$382.9K – $510.5K
NOI $30,628 @ 7.0% cap · market cap 6.15%
Second Best
Apartment 5plus
$393.7K
$344.5K – $459.3K
NOI $27,557 @ 7.0% cap · market cap 5.53%
Theoretical Best
Specialty Retail
$761.6K
$666.4K – $888.6K
NOI $53,313 @ 7.0% cap · market cap 10.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,163
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
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Frequently Asked Questions
What type of property is this?
Duplex - Remodeled multi-level duplex with private suites, flexible rooms, and separate lower-level access.
Where is this duplex located?
The property is located at 661 2nd Ave N Twin Falls, ID.
What is the asking price?
The asking price for this property is $498,000.
What are key features of this property?
This property features: 3,320 SF duplex built in 1912; Main level includes two private suites plus a third bedroom or office; Upper level features two bedrooms, a full bath, and a kitchen
