Remodeled Downtown
New
For Sale
$468,000
661 2nd Ave N, Twin Falls, ID 83301
Residential Income, Twin Falls, ID
Property Size3,320 SF
Lot Size0.14 Acres
Price / SF$140.96
Days on Market1
Property Features for 661 2nd Ave N
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 2, Bathroom 1, Bedroom 1, Bedroom 5, Bedroom 4, Bathroom 3, Bathroom 2, Bedroom 3
Parking
4
Parking features
Driveway
Fireplace
1
Appliances
Disposal (All Units), Stove/Range (All Units), Refrigerator (All Units), Washer/Dryer (All Units)
Subdivision
0 Not Applic.
Lot features
Standard Lot 6000-9999 S F, Sidewalks
Elementary school
Lincoln
Middle school
South Hills
High school
Canyon Ridge
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
Shoshone St to 2nd N, West to home across from Lincoln Elementary
Standard status
Active
APN
RPT00010810010
Size
3,320 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Twin Falls Townsite Final & Amd Lot 1 Block 81 (16-10-17)
Tax Annual Amount
2177
Legal Description
Twin Falls Townsite Final & Amd Lot 1 Block 81 (16-10-17)
Utilities
Heating system
Natural Gas, Fireplace(s), Forced Air
Cooling system
Central Air
Building Details
Year built
1912
Number of units
2
Building materials
Frame, Stucco
Roof type
Composition
Listing Agency:
Silvercreek Realty Group
(208) 377-0422
Listed By:
Justin Winson · License #AB25038
(208) 280-4663
Added: Sep 4
Last Checked: Sep 4 at 8:06PM
MLS# 98999744
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 1912, this 3,320-square-foot duplex occupies a 0.14-acre parcel in downtown Twin Falls. The property combines frame and stucco construction with a composition roof, central air, forced-air heating, natural gas service, and fireplaces. Electrical, plumbing, HVAC, roofing, stucco, and interior finishes have been updated, while stained-glass windows and exposed ceiling beams retain the building’s historic character.
The main level contains two private suites along with a third bedroom or office. The upper level adds two bedrooms, a full bath, and a kitchen, creating distinct living arrangements within the building. A basement with its own entrance includes plumbing stub-ins and new concrete. Appliances include ranges, refrigerators, disposals, and washer/dryer sets in all units. A driveway provides on-site parking, and the property is near downtown entertainment, shopping, and local eateries.
The main level contains two private suites along with a third bedroom or office. The upper level adds two bedrooms, a full bath, and a kitchen, creating distinct living arrangements within the building. A basement with its own entrance includes plumbing stub-ins and new concrete. Appliances include ranges, refrigerators, disposals, and washer/dryer sets in all units. A driveway provides on-site parking, and the property is near downtown entertainment, shopping, and local eateries.
Key Highlights
- 3,320‑square‑foot duplex on a 0.14‑acre lot
- Built in 1912 with frame and stucco construction
- Updates include electrical, plumbing, HVAC, roof, stucco, and interior finishes
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
6.54%
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 6.54%
Second Best
Apartment 5plus
$393.7K
$344.5K – $459.3K
NOI $27,557 @ 7.0% cap · market cap 5.89%
Theoretical Best
Specialty Retail
$761.6K
$666.4K – $888.6K
NOI $53,313 @ 7.0% cap · market cap 11.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,185
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 - Historic duplex with separate living areas, updated systems, and flexible rental or owner-occupant potential.
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 $468,000.
What are key features of this property?
This property features: 3,320‑square‑foot duplex on a 0.14‑acre lot; Built in 1912 with frame and stucco construction; Updates include electrical, plumbing, HVAC, roof, stucco, and interior finishes
