Fourplex with Detached
For Sale
$899,000
393-399 S White Cloud Dr, Boise, ID 83709
MULTI_FAMILY - Boise, ID
Property Size4,464 SF
Lot Size0.35 Acres
Price / SF$201.39
Days on Market166
Property Features for 393-399 S White Cloud Dr
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
7
Bathrooms
6
Full bathrooms
6
Rooms
Bathroom 4, Bedroom 2, Bathroom 1, Bedroom 3, Bedroom 7, Bathroom 5, Bathroom 3, Bedroom 1, Bedroom 4, Bathroom 2, Bathroom 6, Bedroom 5, Bedroom 6
Parking
8
Parking features
Garage, RV
Appliances
Disposal (All Units), Stove/Range (All Units), Refrigerator (All Units), Washer/Dryer (Some Units)
Subdivision
Jackson Manor S
Lot features
10000 S F - .49, Irrigation, R. V. Parking, Sidewalks
Elementary school
Grace Jordan
Middle school
West 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
Franklin, S on Cole, W on McMullen, N. on White Cloud to property.
Standard status
Active
APN
R4548530090
Size
4,464 SF
Lot size
0.35 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Lot 23 Block 2 Jackson Manor Sub #4
Tax Annual Amount
8082
Legal Description
Lot 23 Block 2 Jackson Manor Sub #4
Utilities
Heating system
Baseboard, Natural Gas, Forced Air
Cooling system
Central Air
Building Details
Year built
1974
Number of units
4
Flooring type
Vinyl
Building materials
Frame, Stucco, Metal Siding
Roof type
Composition
Listing Agency:
Silvercreek Realty Group
(208) 377-0422
Listed By:
Kelli Hall · License #SP20329
(208) 863-6363
Added: Feb 27
Changed: Aug 1
Last Checked: Aug 12 at 6:06PM
MLS# 98976313
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 fourplex at 393-399 S White Cloud Dr, Boise, ID 83709 sits on a 0.35-acre lot and includes four residential units plus a detached shop. The property has been remodeled or updated throughout most of the building. Unit mix includes two one-bedroom one-bath units, one two-bedroom one-and-a-half-bath unit, and one three-bedroom one-and-a-half-bath unit. Parking features include garages and RV parking.
Also on site is a 40 x 30 shop with two separate two-car garages that can be used to generate additional rental revenue. The exterior is described as low-maintenance with an easy-care yard, along with lots of off-street parking. Heating is provided by baseboard, natural gas, and forced air systems, with central air cooling.
Appliances listed for the property include disposal, stove/range, refrigerator, and washer/dryer (some units). The roof is composition, and the building materials include frame, stucco, and metal siding. Built in 1974, the property is centrally located close to the freeway, schools, and shopping. Interior photos were taken prior to tenants moving in.
Also on site is a 40 x 30 shop with two separate two-car garages that can be used to generate additional rental revenue. The exterior is described as low-maintenance with an easy-care yard, along with lots of off-street parking. Heating is provided by baseboard, natural gas, and forced air systems, with central air cooling.
Appliances listed for the property include disposal, stove/range, refrigerator, and washer/dryer (some units). The roof is composition, and the building materials include frame, stucco, and metal siding. Built in 1974, the property is centrally located close to the freeway, schools, and shopping. Interior photos were taken prior to tenants moving in.
Key Highlights
- 0.35‑acre lot with four residential units in a Quadplex configuration
- Most interior renovations or updates throughout the building
- Unit mix: two 1 bed / 1 bath; one 2 bed / 1.5 bath; one 3 bed / 1.5 bath
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
$53,806
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
5.99%
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%
$1,076,120
$1.1M
Cap Rate 7%
$768,657
$768.7K
Cap Rate 9%
$597,844
$597.8K
Market Conditions
NOI Build-Up for 4,464 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
$77.7K $17.40/SF
− Vacancy
−$808 −$0.18/SF
EGI
$76.9K $17.22/SF
− OpEx
−$23.1K −$5.17/SF
NOI
$53.8K $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%
$1,076,120
Cap Rate 7%
$768,657
Cap Rate 9%
$597,844
Alternative Uses
Best Use
Multifamily LT 5
$768.7K
$672.6K – $896.8K
NOI $53,806 @ 7.0% cap · market cap 5.99%
Second Best
Apartment 5plus
$670.2K
$586.5K – $782.0K
NOI $46,917 @ 7.0% cap · market cap 5.22%
Theoretical Best
Office A
$1.23M
$1.08M – $1.44M
NOI $86,298 @ 7.0% cap · market cap 9.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,061
Businesses Nearby
Explore this area
Business Placement
Demographics for 83709, ID
59,461
Population
22,262
Households
2.7
Avg Household Size
38
Median Age
37%
College-Educated
96%
High-School Grad
33.7 sq mi
ZIP Area
1,764
Density / Sq Mi
$88,893
Median Household Income
$48,981
Median Earnings
$1,743
Median Rent
$440,700
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Fourplex with updated interiors, off-street parking, and a detached 40 x 30 shop for added rental flexibility.
Where is this quadplex located?
The property is located at 393-399 S White Cloud Dr Boise, ID.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: 0.35‑acre lot with four residential units in a Quadplex configuration; Most interior renovations or updates throughout the building; Unit mix: two 1 bed / 1 bath; one 2 bed / 1.5 bath; one 3 bed / 1.5 bath
