507 W Main St Rexburg, ID 83440
Estimated payment $3,534/month
Highlights
- No HOA
- Cooling System Mounted To A Wall/Window
- Forced Air Heating System
- Madison Senior High School Rated A-
- 1-Story Property
- Carpet
About This Home
Endless Possibilities on Main Street — Over 4,000 sq ft of Potential! This spacious 4,000+ sq. ft. property sits on a prime corner lot on Main Street, just steps from Kennedy Elementary School and close to the heart of Rexburg. Previously operated as a licensed daycare center, this building offers flexible options for the next owner — whether continuing as a childcare facility or transforming it into something entirely new. The main level features a large open room with great natural light — perfect for a gathering space, studio, retail concept, or open-concept living area. Downstairs, you'll find two oversized open rooms ideal for classrooms, recreational areas, offices, or potential future rental suites. Possible Uses (with appropriate zoning or approvals): Reopen as a daycare or preschool (no zoning change required) Convert to student housing or a duplex-style rental property Develop a live/work space (e.g., salon, small business with residence attached) Create a wellness studio, co-op workspace, or community hub Redesign as a spacious single-family home or multi-family investment The property's location and visibility make it an incredible investment for anyone with vision. Its position near schools and businesses ensures consistent traffic and accessibility.
Home Details
Home Type
- Single Family
Est. Annual Taxes
- $4,083
Year Built
- Built in 1961
Lot Details
- 0.47 Acre Lot
Parking
- No Garage
Home Design
- Brick Exterior Construction
- Frame Construction
- Metal Roof
- Concrete Perimeter Foundation
Interior Spaces
- 1-Story Property
- Finished Basement
- Laundry in Basement
- Dishwasher
Flooring
- Carpet
- Laminate
Bedrooms and Bathrooms
- 3 Bedrooms
Schools
- Kennedy 321El Elementary School
- Madison 321Jh Middle School
- Madison 321Hs High School
Utilities
- Cooling System Mounted To A Wall/Window
- Forced Air Heating System
- Heating System Uses Natural Gas
- Gas Water Heater
Community Details
- No Home Owners Association
Map
Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $3,930 | $403,830 | $65,000 | $338,830 |
| 2024 | $4,241 | $398,830 | $60,000 | $338,830 |
| 2023 | $4,084 | $378,410 | $50,000 | $328,410 |
| 2022 | $4,539 | $362,989 | $45,000 | $317,989 |
| 2021 | $2,394 | $286,299 | $35,000 | $251,299 |
| 2020 | $1,743 | $223,749 | $27,500 | $196,249 |
| 2019 | $1,684 | $199,435 | $27,500 | $171,935 |
| 2018 | $1,543 | $182,068 | $27,500 | $154,568 |
| 2017 | $2,865 | $173,385 | $27,500 | $145,885 |
| 2016 | $2,549 | $165,710 | $31,060 | $134,650 |
| 2015 | $2,319 | $137,842 | $0 | $0 |
| 2013 | -- | $137,092 | $0 | $0 |
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 12/01/2025 12/01/25 | Price Changed | $609,000 | -1.6% | $152 / Sq Ft |
| 10/30/2025 10/30/25 | Price Changed | $619,000 | -2.5% | $155 / Sq Ft |
| 07/31/2025 07/31/25 | For Sale | $635,000 | -- | $159 / Sq Ft |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | -- | Alliance Title | |
| Interfamily Deed Transfer | -- | First American Title |
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $607,500 | New Conventional | |
| Closed | $78,500 | No Value Available |
Source: Snake River Regional MLS
MLS Number: 2178667
APN: RPRXBCA0250001
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
Copyright Snake River MLS. All rights reserved. Information is deemed reliable but not guaranteed.
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