251 11th St #1234 · Idaho Falls, ID 83403

$265,000

4 bd · 4.0 ba · 3,300 sqft · MultiFamily · 6 Days on market

Built 1916 Average condition 9,148 sqft lot

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Why this score? — see what drove the B- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +25.8/30.0
• DSCR +8.6/10.0
• ARV discount +7.5/15.0
• 1% rule +6.8/10.0
• Appreciation +5.0/10.0
• Livability +4.3/5.0
• Schools +3.7/10.0
• Condition / age +2.8/5.0
• Rent growth +2.5/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

This classic 1912 multi-unit property blends timeless character with excellent income potential. Featuring four studio apartments of similar size, the property includes two units upstairs and two downstairs, creating a practical and appealing layout for tenants. Three units are currently occupied, providing immediate rental income, while Unit 1 is vacant and ready for easy showings. Current tenants are on a month-to-month lease. The property showcases charming vintage appeal with a large covered front porch, mature trees, and a well-established lawn that add to its inviting curb appeal. A two-car garage and unfinished basement offer additional storage and future possibilities. The owner cur

Key facts

• Multi-unit property
• Two-car garage
• Mature trees

Tags

• MULTI-UNIT PROPERTY
• FOUR STUDIO APARTMENTS
• LARGE COVERED FRONT PORCH
• MATURE TREES
• WELL-ESTABLISHED LAWN
• TWO-CAR GARAGE

Property features AI

Finance

• Other: Lot approximately 0.21 acre

Exterior

• Parking: 2-car garage; Concrete parking; Off-street parking
• Utilities: Public water; Public sewer
• Home design: Residential income property — quadruplex (fourplex)
• Construction: Frame construction with wood siding
• Exterior features: Metal roof

Interior

• Bathrooms: Four full bathrooms
• Heating & cooling: Forced air heating; Natural gas heating
• Interior features: Full, unfinished basement

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/?-bath units multifamily listed at $265k. Condition is rated average.

Deal economics

• At list price, monthly cash flow is $645 ($8k/yr) — positive. Per door: $323/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $265k).

Location & tenants

• Location reads 86/100 on livability (#3 in ID, #428 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, cost of living A+, housing A+.
• Idaho Falls District (urban): math 36% / reading 50% proficiency, ranked #54 of 92 in ID (top 59%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 2 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 2,253 units permitted in Bonneville County in 2024 (1,051 in 5+ unit buildings).

Forward outlook

• In year one you build about $10k of equity ($2k loan paydown + $8k appreciation (3.0% local appreciation)).
• Bonneville County population projected at +18% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $74k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1916 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $265,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1916 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
6. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
7. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.18% ✓
• Cap rate: 9.22%
• Cash-on-cash: 10.44%
• DSCR: 1.46
• GRM: 7.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 17.3%
• Equity multiple: 1.98×
• Total profit: $73,070
• Equity at exit: $119,155

10-year hold

• IRR: 18.8%
• Equity multiple: 3.73×
• Total profit: $202,628
• Equity at exit: $183,633

Cash invested: $74,200 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 91 Strongly Landlord-Friendly
• State Idaho: 91 Strongly Landlord-Friendly · R+18
• County: — inherits STATE
• City: — inherits STATE

3-day pay-or-quit; preempted; minimal tenant protections.

Methodology + full state rankings →

ZIP-level market 83403

• Active inventory: 2
• Price-to-rent: 14.1×

Monthly cashflow live

• Estimated rent: $3,135 high
• Mortgage (P&I): −$1,390
• Tax est. 1.5%: −$331 /mo · $3,975/yr
• Insurance: −$110
• HOA: −$0
• Vacancy / Maint / Mgmt: −$658
• Net cashflow: $645

Break-even live

Break-even rent $2,318

Max offer price $265,000

Occupancy floor 74%

Sensitivity live

Price	-10% $828	-5% $737	+0% $645	+5% $554	+10% $462
Rent	-10% $398	-5% $521	+0% $645	+5% $769	+10% $893
Rate	-1.0pp $779	-0.5pp $713	base $645	+0.5pp $577	+1.0pp $507

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	—	$3,136
Total (2 units)			$3,135

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $66,250
• Closing costs: $7,950
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1450 Idaho Ave Unit 3 Idaho Falls, ID	3.0	2.0	2300	$1,800	$0.78	21d	1	0.95mi

Listing history 6 events

1. 2026-06-03
   status $265,000 Pending 6 DOM
2. 2026-06-02
   days on market $265,000 Active 6 DOM
3. 2026-06-01
   days on market $265,000 Active 5 DOM
4. 2026-05-31
   days on market $265,000 Active 4 DOM
5. 2026-05-30
   days on market $265,000 Active 3 DOM
6. 2026-05-27
   listed $265,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥92°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $37,620
• − Mortgage interest: −$14,844
• − Property taxes: −$3,975
• − Insurance: −$1,325
• − Repairs & maintenance: −$3,010
• − Management: −$3,010
• − Depreciation: −$7,709
• Taxable income: $3,748
• Est. tax owed @ 24.0%: −$899
• After-tax cash flow: $6,844/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Condition & rehab AI · 14 photos

Average 55/100 Moderate rehab

The home is in average condition with some visible signs of wear and tear. It would benefit from some repairs and maintenance to improve its overall appearance and increase its value.

Repairs flagged

• Minor Exterior siding — There are some visible signs of wear and tear, such as minor discoloration and some loose siding panels.
• Minor Interior walls — There are some visible signs of wear and tear, such as minor discoloration and some peeling paint.
• Minor Bathrooms — There are some visible signs of wear and tear, such as minor discoloration and some peeling paint.
• Minor Kitchen — There are some visible signs of wear and tear, such as minor discoloration and some peeling paint.
• Minor Landscaping — There are some visible signs of wear and tear, such as some dead grass and some overgrown bushes.

Value-add opportunities

• Both Paint interior walls — Painting the interior walls will improve the overall appearance of the home and make it more appealing to potential buyers or renters.
• Both Replace worn carpet — Replacing the worn carpet will improve the overall appearance of the home and make it more appealing to potential buyers or renters.
• Both Paint bathroom fixtures — Painting the bathroom fixtures will improve the overall appearance of the home and make it more appealing to potential buyers or renters.
• Both Trim overgrown bushes — Trimming the overgrown bushes will improve the overall appearance of the home and make it more appealing to potential buyers or renters.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exterior siding · There are some visible signs of wear and tear, such as minor discoloration and some loose siding panels.	Minor	$500–3,000
Interior walls · There are some visible signs of wear and tear, such as minor discoloration and some peeling paint.	Minor	$500–3,000
Bathrooms · There are some visible signs of wear and tear, such as minor discoloration and some peeling paint.	Minor	$500–3,000
Kitchen · There are some visible signs of wear and tear, such as minor discoloration and some peeling paint.	Minor	$500–3,000
Landscaping · There are some visible signs of wear and tear, such as some dead grass and some overgrown bushes.	Minor	$500–3,000
Total estimated repair cost · 5 items		$2,500–15,000

Value-add ROI direction

• Both Paint interior walls — Painting the interior walls will improve the overall appearance of the home and make it more appealing to potential buyers or renters. ↑
• Both Replace worn carpet — Replacing the worn carpet will improve the overall appearance of the home and make it more appealing to potential buyers or renters. ↑
• Both Paint bathroom fixtures — Painting the bathroom fixtures will improve the overall appearance of the home and make it more appealing to potential buyers or renters. ↑
• Both Trim overgrown bushes — Trimming the overgrown bushes will improve the overall appearance of the home and make it more appealing to potential buyers or renters. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Idaho Falls District
• NCES district ID: 1601530
• Math proficiency: 36% ▼ -2.00%
• Reading proficiency: 50% ▲ 1.00%
• Median HH income: $48,119
• Composite: 36.75/100
• National rank: #4581
• State rank: #54 of 92 in ID

Livability — Idaho Falls

• Score: 86/100
• State rank: #3
• US rank: #428

Category grades

Amenities A+ Commute B Cost of living A+ Crime C Employment B- Housing A+ Health & safety A+ User ratings C+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Idaho Falls, ID

Population outlook (Bonneville County) Hauer SSP2

• Today (2025): 120,170 people
• By 2030: 124,993 · +4.0%
• By 2040: 134,091 · +11.6%
• By 2050: 142,122 · +18.3%
• By 2075: 157,767 · +31.3%
• By 2100: 160,316 · +33.4%

Not yet ingested

• Political lean: —
• Race & ethnicity: —
• Common origin: —
• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 4.51%
• F500 in state: 6

Industry mix (Fortune 500 HQ in ID)

Industry	F500 HQs	Revenue
▸Retail	1	$79B
▸Technology	1	$25B
▸Food / Agriculture	1	$6B

Price history

1 event — show timeline

• 2026-05-27 Listed $265,000 SRMLS