Downtown Meridian
For Sale
$624,900
918 NW 4th St, Meridian, ID 83646
MULTI_FAMILY - Meridian, ID
Property Size3,072 SF
Lot Size0.17 Acres
Price / SF$203.42
Days on Market250
Property Features for 918 NW 4th St
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Bedrooms
6
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 4, Bedroom 3, Bedroom 1, Bathroom 3, Bedroom 5, Bedroom 6, Bathroom 1, Bedroom 2, Bathroom 2
Parking
6
Appliances
Disposal (All Units), Stove/Range (All Units), Refrigerator (All Units)
Subdivision
Nidays Add
Lot features
10000 S F - .49
Elementary school
Meridian
Middle school
Meridian Middle
High school
Meridian
Elementary school district
West Ada School District
Middle school district
West Ada School District
High school district
West Ada School District
Directions
I-84 North on Meridian Rd to Pine St. Left on Pine to 4th St, Second Home on Right
Standard status
Active
APN
R6066000455
Size
3,072 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
Lots 11 & 12 Blk 4 Nidays Add Meridian #96052211 District/ Ward 3-11
Tax Annual Amount
3152
Legal Description
Lots 11 & 12 Blk 4 Nidays Add Meridian #96052211 District/ Ward 3-11
Utilities
Heating system
Forced Air, Natural Gas
Cooling system
Wall/Window Unit(s), Window Unit(s)
Amenities
fully fenced backyard
Building Details
Year built
1970
Number of units
3
Flooring type
Vinyl
Building materials
HardiPlank Type
Roof type
Composition
Listing Agency:
Real Broker LLC
(855) 450-0442
Listed By:
Charlie Wetherington · License #SP51289
(406) 670-7482
Added: Dec 5, 2025
Changed: Aug 12
Last Checked: Aug 12 at 9:06AM
MLS# 98969120
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.
Well situated triplex in the downtown Meridian area. The property is described as nicely maintained, with a history of staying fully rented. Each unit features 1,024 square feet of living space and includes a fully fenced backyard area.
The triplex is located at 918 NW 4th St in Meridian, Idaho (Ada County). Construction materials include HardiPlank Type, with vinyl flooring. Heating is provided by natural gas forced air, and cooling is through window and wall/window units. The roof is composition.
Additional included features listed for all units are a disposal, stove/range, and refrigerator. The property was built in 1970. Recent repairs are noted as available in the Doc’s tab.
The triplex is located at 918 NW 4th St in Meridian, Idaho (Ada County). Construction materials include HardiPlank Type, with vinyl flooring. Heating is provided by natural gas forced air, and cooling is through window and wall/window units. The roof is composition.
Additional included features listed for all units are a disposal, stove/range, and refrigerator. The property was built in 1970. Recent repairs are noted as available in the Doc’s tab.
Key Highlights
- Triplex in the downtown Meridian area
- Each unit has 1,024 SF of living space
- Fully fenced backyard area with each 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
$33,373
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
5.34%
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%
$667,460
$667.5K
Cap Rate 7%
$476,757
$476.8K
Cap Rate 9%
$370,811
$370.8K
Market Conditions
NOI Build-Up for 3,072 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
$49.8K $16.20/SF
− Vacancy
−$2.1K −$0.68/SF
EGI
$47.7K $15.52/SF
− OpEx
−$14.3K −$4.66/SF
NOI
$33.4K $10.86/SF
Area
Meridian, ID
Vacancy
4.20%
Lease Rate
$16.20 /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%
$667,460
Cap Rate 7%
$476,757
Cap Rate 9%
$370,811
Alternative Uses
Best Use
Multifamily LT 5
$476.8K
$417.2K – $556.2K
NOI $33,373 @ 7.0% cap · market cap 5.34%
Second Best
Apartment 5plus
$440.2K
$385.2K – $513.6K
NOI $30,817 @ 7.0% cap · market cap 4.93%
Theoretical Best
Office A
$810.7K
$709.4K – $945.8K
NOI $56,748 @ 7.0% cap · market cap 9.08%
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
1,360
Businesses Nearby
Explore this area
Business Placement
Demographics for 83646, ID
69,818
Population
26,829
Households
2.6
Avg Household Size
36
Median Age
44%
College-Educated
96%
High-School Grad
27.3 sq mi
ZIP Area
2,557
Density / Sq Mi
$101,040
Median Household Income
$47,397
Median Earnings
$1,814
Median Rent
$488,000
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?
Triplex - Nicely maintained triplex on a fully fenced lot with a history of staying fully rented.
Where is this triplex located?
The property is located at 918 NW 4th St Meridian, ID.
What is the asking price?
The asking price for this property is $624,900.
What are key features of this property?
This property features: Triplex in the downtown Meridian area; Each unit has 1,024 SF of living space; Fully fenced backyard area with each unit
