Fourplex With Detached
For Sale
$1,200,000
Pending
3009 N Tamarack Dr, Boise, ID 83703
Residential Income, Boise, ID
Property Size4,660 SF
Lot Size0.46 Acres
Days on Market150
Property Features for 3009 N Tamarack Dr
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning description
R-1C
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 5, Bedroom 3, Bedroom 1, Bathroom 4, Bathroom 2, Bedroom 8, Bedroom 4, Bedroom 7, Bedroom 6, Bathroom 1, Bedroom 2, Bathroom 3
Parking
8
Parking features
RV, Driveway
Fireplace
1
Appliances
Disposal (Some Units), Stove/Range (All Units), Refrigerator (All Units), Washer/Dryer (All Units)
Subdivision
Wilson Sub
Lot features
10000 S F - .49, Garden, R. V. Parking
Elementary school
Collister
Middle school
Hillside
High school
Capital
Elementary school district
Boise School District #1
Middle school district
Boise School District #1
High school district
Boise School District #1
Directions
From Hill Rd & 36th St, S on 36th St, W on Taft, S on Tamarack Dr.
Standard status
Pending
APN
R9441000150
Size
4,660 SF
Lot size
0.46 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Lot 18 Block 2 Wilson Sub
Tax Annual Amount
6022
Legal Description
Lot 18 Block 2 Wilson Sub
Utilities
Heating system
Natural Gas, Forced Air, Fireplace(s)
Cooling system
Central Air
Water source
Well
Amenities
in-unit washer/dryer
private backyard
storage shed
Building Details
Year built
1962
Number of units
4
Flooring type
Engineered
Building materials
Brick
Roof type
Composition
Listing Agency:
Keller Williams Realty Boise
(208) 672-9000
Listed By:
Eve-marie Bergren · License #SP46122
(208) 972-1337
Added: May 1
Changed: Sep 14
Last Checked: Sep 27 at 6:06PM
MLS# 98984508
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 4,660-square-foot quadplex occupies a 0.46-acre lot and consists of two detached cottage residences plus a duplex. Built in 1962, the property has brick construction, engineered flooring, central air, natural-gas forced-air heat, and fireplaces. Each residence is separately metered and includes a washer and dryer. Duplex residences have private backyard areas, while three units include individual garages. Additional parking is provided by a paved driveway and gravel areas, with RV parking also available. An owner storage shed adds utility, and a private well serves the property. The asset is zoned R1-C, with the source information identifying potential for expansion or added density. The property is located near shopping, dining, parks, and the Boise Greenbelt.
Key Highlights
- 4,660 SF quadplex on a 0.46‑acre lot
- Two detached cottage units plus one duplex
- R1‑C zoning with potential for expansion or added density
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
$56,169
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
4.68%
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%
$1,123,380
$1.1M
Cap Rate 7%
$802,414
$802.4K
Cap Rate 9%
$624,100
$624.1K
Market Conditions
NOI Build-Up for 4,660 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
$81.1K $17.40/SF
− Vacancy
−$843 −$0.18/SF
EGI
$80.2K $17.22/SF
− OpEx
−$24.1K −$5.17/SF
NOI
$56.2K $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%
$1,123,380
Cap Rate 7%
$802,414
Cap Rate 9%
$624,100
Alternative Uses
Best Use
Multifamily LT 5
$802.4K
$702.1K – $936.2K
NOI $56,169 @ 7.0% cap · market cap 4.68%
Second Best
Apartment 5plus
$699.7K
$612.2K – $816.3K
NOI $48,977 @ 7.0% cap · market cap 4.08%
Theoretical Best
Office A
$1.29M
$1.13M – $1.50M
NOI $90,087 @ 7.0% cap · market cap 7.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
486
Businesses Nearby
Explore this area
Business Placement
Demographics for 83703, ID
18,163
Population
7,971
Households
2.3
Avg Household Size
40
Median Age
54%
College-Educated
97%
High-School Grad
8.1 sq mi
ZIP Area
2,242
Density / Sq Mi
$74,415
Median Household Income
$41,938
Median Earnings
$1,336
Median Rent
$477,000
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?
Quadplex - The property combines updated interiors with separate utility metering and in-unit laundry.
Where is this quadplex located?
The property is located at 3009 N Tamarack Dr Boise, ID.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 4,660 SF quadplex on a 0.46‑acre lot; Two detached cottage units plus one duplex; R1‑C zoning with potential for expansion or added density
