Renovated Duplex with Two
For Sale
$1,095,000
1001-1003 East Franklin Street, Boise, ID 83712
Two spacious residences offer three bedrooms and two baths each, with updated systems and modern finishes throughout.
Property Size3,626 SF
Price / SF$301.99
Days on Market101
Property Features for 1001-1003 East Franklin Street
General Information
Standard status
Active
Size
3,626 SF
Property subtype
Residential Income / Duplex
Net Operating Income
$54,294
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$7,106
Amenities
Central Air, Ductless/Mini Split
Natural Gas, Ductless/Mini Split, Yes
1569
Disposal (All Units), Stove/Range (All Units), Refrigerator (All Units), Washer/Dryer (All Units)
6
Washer/Dryer Hookups (All Units)
Yes
Slab
4
Composition
Full
HardiPlank Type
Building Details
Year Built
1920
Year Renovated
2023
Buildings
1
Listing Agency:
Windermere Real Estate Professionals
(208) 284-0219
Listed By:
Amy Shaw · License #SP50597
(208) 284-0219
Source:
Compass
Added: May 23
Changed: Aug 30
Last Checked: Aug 30 at 6:54PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Windermere Real Estate Professionals
Investment Insights
Based on property information with market context.
This duplex contains 3,626 square feet and was originally built in 1920. Both residences were renovated in 2023 with contemporary finishes and updated systems. Each unit includes three bedrooms, two bathrooms, central air, ductless mini-split capability, natural gas service, and washer/dryer hookups. Appliances serving all units include stoves/ranges, refrigerators, disposals, and washers and dryers.
The property is located at 1001-1003 East Franklin Street in Boise, near St. Luke's, the Greenbelt, Downtown Boise, restaurants, parks, foothill trails, and other downtown amenities. Its two-unit configuration supports the existing residential income use while also accommodating owner-occupancy or multi-generational living as described in the property information.
The property is located at 1001-1003 East Franklin Street in Boise, near St. Luke's, the Greenbelt, Downtown Boise, restaurants, parks, foothill trails, and other downtown amenities. Its two-unit configuration supports the existing residential income use while also accommodating owner-occupancy or multi-generational living as described in the property information.
Key Highlights
- Two 3‑bedroom, 2‑bath units
- 3,626 square feet on a 1920‑built duplex
- Extensively renovated in 2023
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
$43,705
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
3.99%
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%
$874,100
$874.1K
Cap Rate 7%
$624,357
$624.4K
Cap Rate 9%
$485,611
$485.6K
Market Conditions
NOI Build-Up for 3,626 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
$63.1K $17.40/SF
− Vacancy
−$656 −$0.18/SF
EGI
$62.4K $17.22/SF
− OpEx
−$18.7K −$5.17/SF
NOI
$43.7K $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%
$874,100
Cap Rate 7%
$624,357
Cap Rate 9%
$485,611
Alternative Uses
Best Use
Multifamily LT 5
$624.4K
$546.3K – $728.4K
NOI $43,705 @ 7.0% cap · market cap 3.99%
Second Best
Apartment 5plus
$544.4K
$476.4K – $635.2K
NOI $38,110 @ 7.0% cap · market cap 3.48%
Theoretical Best
Office A
$1.00M
$876.2K – $1.17M
NOI $70,098 @ 7.0% cap · market cap 6.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,227
Businesses Nearby
Explore this area
Business Placement
Demographics for 83712, ID
8,908
Population
4,606
Households
1.9
Avg Household Size
42
Median Age
62%
College-Educated
97%
High-School Grad
22.9 sq mi
ZIP Area
389
Density / Sq Mi
$105,764
Median Household Income
$56,280
Median Earnings
$1,368
Median Rent
$757,700
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?
Duplex - Two spacious residences offer three bedrooms and two baths each, with updated systems and modern finishes throughout.
Where is this duplex located?
The property is located at 1001-1003 East Franklin Street Boise, ID.
What is the asking price?
The asking price for this property is $1,095,000.
What are key features of this property?
This property features: Two 3‑bedroom, 2‑bath units; 3,626 square feet on a 1920‑built duplex; Extensively renovated in 2023
