Updated Triplex with Shared
For Sale
$619,000
1818 W Washington St, Boise, ID 83702
Residential Income, Boise, ID
Property Size1,592 SF
Lot Size0.14 Acres
Price / SF$388.82
Days on Market70
Property Features for 1818 W Washington St
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning description
R-2
Bedrooms
3
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bedroom 3, Bathroom 3, Bedroom 1, Bathroom 2, Bedroom 2
Subdivision
Mc Carthy Sub
Lot features
Standard Lot 6000-9999 S F, Garden, Sidewalks
Elementary school
Lowell
Middle school
North Jr
High school
Boise
Elementary school district
Boise School District #1
Middle school district
Boise School District #1
High school district
Boise School District #1
Directions
W on State St, N 19th St, E on Washington
Standard status
Active
APN
R5538912030
Size
1,592 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LOT 2 BLK 18 MCCARTYS ADD
Tax Annual Amount
5966
Legal Description
LOT 2 BLK 18 MCCARTYS ADD
Utilities
Heating system
Forced Air
Cooling system
Central Air
Amenities
laundry room
Building Details
Year built
1900
Number of units
3
Building materials
Frame, Wood Siding
Roof type
Composition
Listing Agency:
Amherst Madison
(208) 391-2391
Listed By:
Matt Bauscher · License #SP40991
(208) 330-8515
Added: Jun 26
Changed: Aug 28
Last Checked: Sep 3 at 9:06PM
MLS# 98991936
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.
This 1,592-square-foot triplex, built in 1900, includes one larger main-level residence and two upstairs one-bedroom units. The main-level layout provides a living and dining area, full kitchen, bedroom with en-suite bath, and an adjacent room suitable for use as an office or guest room. Each upper unit includes an updated kitchen and full bathroom. Interior improvements across the property include fresh paint, new LVP flooring, contemporary lighting, updated kitchens, and updated HVAC. A shared laundry room is located on the main floor.
The property occupies 0.14 acres in Boise’s Historic North End, with Hyde Park, Camel’s Back Park, and downtown described as just minutes away. Construction includes frame with wood siding, while the building has a composition roof, forced-air heating, and central air conditioning.
The property occupies 0.14 acres in Boise’s Historic North End, with Hyde Park, Camel’s Back Park, and downtown described as just minutes away. Construction includes frame with wood siding, while the building has a composition roof, forced-air heating, and central air conditioning.
Key Highlights
- 1,592‑square‑foot triplex on 0.14 acres
- Three residences, including two upstairs one‑bedroom units
- Main‑level residence includes en‑suite bedroom and adjacent office or guest room
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
$19,189
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
3.10%
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%
$383,780
$383.8K
Cap Rate 7%
$274,129
$274.1K
Cap Rate 9%
$213,211
$213.2K
Market Conditions
NOI Build-Up for 1,592 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
$27.7K $17.40/SF
− Vacancy
−$288 −$0.18/SF
EGI
$27.4K $17.22/SF
− OpEx
−$8.2K −$5.17/SF
NOI
$19.2K $12.05/SF
Area
Ada County, ID
Vacancy
1.04%
Lease Rate
$17.40 /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%
$383,780
Cap Rate 7%
$274,129
Cap Rate 9%
$213,211
Alternative Uses
Best Use
Multifamily LT 5
$274.1K
$239.9K – $319.8K
NOI $19,189 @ 7.0% cap · market cap 3.10%
Second Best
Apartment 5plus
$239.0K
$209.2K – $278.9K
NOI $16,732 @ 7.0% cap · market cap 2.70%
Theoretical Best
Office A
$439.7K
$384.7K – $513.0K
NOI $30,777 @ 7.0% cap · market cap 4.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
2,374
Businesses Nearby
Explore this area
Business Placement
Demographics for 83702, ID
23,951
Population
12,771
Households
1.9
Avg Household Size
40
Median Age
61%
College-Educated
97%
High-School Grad
31.4 sq mi
ZIP Area
763
Density / Sq Mi
$82,586
Median Household Income
$48,200
Median Earnings
$1,175
Median Rent
$708,000
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?
Triplex - Three residences offer refreshed interiors, updated kitchens, and central air in a compact multifamily configuration.
Where is this triplex located?
The property is located at 1818 W Washington St Boise, ID.
What is the asking price?
The asking price for this property is $619,000.
What are key features of this property?
This property features: 1,592‑square‑foot triplex on 0.14 acres; Three residences, including two upstairs one‑bedroom units; Main‑level residence includes en‑suite bedroom and adjacent office or guest room
