Quadplex With Private Outdoor
New
For Sale
$869,900
2541 W Malad St, Boise, ID 83705
Residential Income, Boise, ID
Property Size3,920 SF
Lot Size0.18 Acres
Price / SF$221.91
Days on Market5
Property Features for 2541 W Malad St
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 8, Bedroom 1, Bedroom 7, Bathroom 3, Bathroom 1, Bedroom 6, Bedroom 4, Bedroom 2, Bathroom 2, Bedroom 3, Bathroom 4, Bedroom 5
Parking
10
Parking features
Driveway
Appliances
Disposal (All Units), Stove/Range (All Units), Refrigerator (All Units), Washer/Dryer (No Units)
Subdivision
0 Not Applic.
Lot features
Standard Lot 6000-9999 S F, Sidewalks
Elementary school
Hawthorne
Middle school
South Boise Jr
High school
Borah
Elementary school district
Boise School District #1
Middle school district
Boise School District #1
High school district
Boise School District #1
Directions
I-84, North on Vista, East on Malad, property is on the right
Special listing conditions
In Foreclosure, Real Estate Owned
Standard status
Active
APN
R5254370050
Size
3,920 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LOT 2 BLK 1 LIGHTNING POINT SUB, according to the official plat thereof, filed in Book 62 of plats, at pages 6243 and 6244 records of Ada County, Idaho
Tax Annual Amount
7954
Legal Description
LOT 2 BLK 1 LIGHTNING POINT SUB, according to the official plat thereof, filed in Book 62 of plats, at pages 6243 and 6244 records of Ada County, Idaho
Utilities
Heating system
Electric (Heating), Wall Furnace
Cooling system
Window Unit(s), Wall/Window Unit(s)
Amenities
vinyl windows
blinds
A/C wall units
refrigerators
laundry hook-ups
secure interior entrance
private fenced yard
private decks
fully fenced property
Building Details
Year built
1993
Number of units
4
Flooring type
Vinyl
Building materials
Frame
Roof type
Composition
Listing Agency:
Homes of Idaho
(208) 442-8500
Listed By:
Rex Tedeski · License #37106
(208) 407-9507
Added: Aug 18
Changed: Aug 21
Last Checked: Aug 22 at 8:06PM
MLS# 98997825
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 3,920-square-foot quadplex, built in 1993, contains four residences with two bedrooms and one bathroom each. Every unit includes a single-car garage, an additional front parking space, refrigerator, stove/range, disposal, and full laundry hookups. Interior features include newer carpet and vinyl flooring, vinyl windows, blinds, and wall or window A/C units. The frame building has a composition roof, electric heating, and a fully fenced site on 0.18 acres.
Lower-level residences offer private fenced yards, while upper-level units have private decks. Secure interior entrances serve each residence. The property is located near Boise State University, downtown Boise, the airport, and the freeway, with driveway parking provided.
Lower-level residences offer private fenced yards, while upper-level units have private decks. Secure interior entrances serve each residence. The property is located near Boise State University, downtown Boise, the airport, and the freeway, with driveway parking provided.
Key Highlights
- 3,920‑square‑foot quadplex on a 0.18‑acre lot
- Four units, each with 2 bedrooms and 1 bathroom
- Single‑car garage plus an additional front parking space for every unit
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
$47,249
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
5.43%
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%
$944,980
$945.0K
Cap Rate 7%
$674,986
$675.0K
Cap Rate 9%
$524,989
$525.0K
Market Conditions
NOI Build-Up for 3,920 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
$68.2K $17.40/SF
− Vacancy
−$709 −$0.18/SF
EGI
$67.5K $17.22/SF
− OpEx
−$20.2K −$5.17/SF
NOI
$47.2K $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%
$944,980
Cap Rate 7%
$674,986
Cap Rate 9%
$524,989
Alternative Uses
Best Use
Multifamily LT 5
$675.0K
$590.6K – $787.5K
NOI $47,249 @ 7.0% cap · market cap 5.43%
Second Best
Apartment 5plus
$588.6K
$515.0K – $686.7K
NOI $41,200 @ 7.0% cap · market cap 4.74%
Theoretical Best
Office A
$1.08M
$947.3K – $1.26M
NOI $75,781 @ 7.0% cap · market cap 8.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
443
Businesses Nearby
Explore this area
Business Placement
Demographics for 83705, ID
27,756
Population
13,228
Households
2.1
Avg Household Size
35
Median Age
38%
College-Educated
93%
High-School Grad
16.2 sq mi
ZIP Area
1,713
Density / Sq Mi
$62,605
Median Household Income
$37,283
Median Earnings
$1,166
Median Rent
$378,800
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?
Quadplex - Four two-bedroom residences include garages, decks or fenced yards, and individual laundry hookups.
Where is this quadplex located?
The property is located at 2541 W Malad St Boise, ID.
What is the asking price?
The asking price for this property is $869,900.
What are key features of this property?
This property features: 3,920‑square‑foot quadplex on a 0.18‑acre lot; Four units, each with 2 bedrooms and 1 bathroom; Single‑car garage plus an additional front parking space for every unit
