Renovated Duplex with Separate
For Sale
$399,000
915 Ada Avenue, Idaho Falls, ID 83402
Residential Income, Idaho Falls, ID
Property Size2,020 SF
Lot Size0.14 Acres
Price / SF$197.52
Days on Market63
Property Features for 915 Ada Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
General Zoning: Tn-Trad Neigh, Specific Zoning: Idaho Falls-Tn-Traditional Nbh
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Basement, Bedroom 5, Bathroom 2, Bedroom 1, Bathroom 1, Bedroom 4, Bathroom 3, Bedroom 3, Bedroom 2
Interior features
Newly Renovated
Basement
Finished, Full, Daylight
Appliances
Separate Water Heaters, Dishwasher, Microwave, Refrigerator, Oven, Stove
Subdivision
Highland Park-Bon
Lot features
Near Green Belt, Near Park, Near Stream/ River, Established Lawn, Many Trees
Elementary school
Bush 91EL
Middle school
Eagle Rock 91JH
High school
Skyline 91HS
Directions
From W Broadway and Memorial Drive: Head NE on Memorial Drive, NE on Sage Ave, E on Elva St. then N on Ada to Address.
Standard status
Active
APN
RPA1040079004A
Size
2,020 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LOTS 4-5, BLOCK 79, HIGHLAND PARK NW1/4, SEC 18, T 2N, R 38
Tax Annual Amount
1458
Legal Description
LOTS 4-5, BLOCK 79, HIGHLAND PARK NW1/4, SEC 18, T 2N, R 38
Utilities
Sewer type
Public Sewer
Heating system
Ductless (Heating)
Cooling system
Zoned, Ductless
Water source
Public
Building Details
Year built
1943
Number of units
2
Building materials
Frame, Vinyl Siding
Roof type
Metal
Listing Agency:
Real Broker LLC
(208) 841-3088
Listed By:
Austin Jacobs · License #47428
(208) 357-9511
Added: Jul 13
Changed: Sep 13
Last Checked: Sep 13 at 6:06PM
MLS# 2185743
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 duplex contains two distinct residential units within a 2020-square-foot property. The upper residence provides 3 bedrooms and 2 bathrooms, while the lower residence includes 2 bedrooms and 1 bathroom. Each unit has its own entrance, kitchen, bathroom, and living area. Interior improvements include refreshed flooring and renovated finishes, with appliances including refrigerators, ovens, stoves, dishwashers, and microwaves. Separate water heaters support the two-unit configuration.
Built in 1943, the property has frame construction with vinyl siding, a metal roof, ductless heating, and zoned ductless cooling. Public water and public sewer serve the property. Its Idaho Falls setting places it near Melaleuca Baseball Field, the Snake River Greenbelt, downtown restaurants and shopping, schools, commuter routes, parks, and entertainment.
Built in 1943, the property has frame construction with vinyl siding, a metal roof, ductless heating, and zoned ductless cooling. Public water and public sewer serve the property. Its Idaho Falls setting places it near Melaleuca Baseball Field, the Snake River Greenbelt, downtown restaurants and shopping, schools, commuter routes, parks, and entertainment.
Key Highlights
- Two‑unit duplex with 2020 square feet of building area
- Upper unit has 3 bedrooms and 2 bathrooms
- Lower unit has 2 bedrooms and 1 bathroom
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
$17,015
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
4.26%
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%
$340,300
$340.3K
Cap Rate 7%
$243,071
$243.1K
Cap Rate 9%
$189,056
$189.1K
Market Conditions
NOI Build-Up for 2,020 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
$25.5K $12.60/SF
− Vacancy
−$1.1K −$0.57/SF
EGI
$24.3K $12.03/SF
− OpEx
−$7.3K −$3.61/SF
NOI
$17.0K $8.42/SF
Area
Bonneville County, ID
Vacancy
4.50%
Lease Rate
$12.60 /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%
$340,300
Cap Rate 7%
$243,071
Cap Rate 9%
$189,056
Alternative Uses
Best Use
Multifamily LT 5
$243.1K
$212.7K – $283.6K
NOI $17,015 @ 7.0% cap · market cap 4.26%
Second Best
Apartment 5plus
$219.9K
$192.4K – $256.5K
NOI $15,390 @ 7.0% cap · market cap 3.86%
Theoretical Best
Office A
$446.3K
$390.5K – $520.7K
NOI $31,241 @ 7.0% cap · market cap 7.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
538
Businesses Nearby
Explore this area
Business Placement
Demographics for 83402, ID
28,452
Population
11,983
Households
2.4
Avg Household Size
34
Median Age
31%
College-Educated
92%
High-School Grad
171.0 sq mi
ZIP Area
166
Density / Sq Mi
$72,064
Median Household Income
$35,593
Median Earnings
$904
Median Rent
$301,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Duplex - Two residential units offer flexible occupancy with individual water heaters and public utilities.
Where is this duplex located?
The property is located at 915 Ada Avenue Idaho Falls, ID.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Two‑unit duplex with 2020 square feet of building area; Upper unit has 3 bedrooms and 2 bathrooms; Lower unit has 2 bedrooms and 1 bathroom
