Live-Work Townhome with
For Sale
$615,000
Pending
10267 W Carlton Bay Dr, Garden City, ID 83714
Residential Income, Garden City, ID
Property Size2,414 SF
Days on Market93
Property Features for 10267 W Carlton Bay Dr
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
City of Garden City-M
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 2, Bathroom 3, Bedroom 3, Bathroom 1, Bedroom 1, Bathroom 4, Bedroom 4, Bedroom 2
Parking
2
Parking features
Driveway
Fireplace
1
Appliances
Disposal (All Units), Stove/Range (All Units)
Subdivision
Carlton Bay
Lot features
Small Lot 5999 S F, Bus on City Route, Sidewalks
Elementary school
Shadow Hills
Middle school
River Glen Jr
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
E on State Street, S on Horseshoe Bend Rd, E on Carlton Bay Drive
Standard status
Pending
APN
R1292650400
Size
2,414 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
LOT 03 BLK 03 CARLTON BAY SUB (See Exhibit A in Docs Tab)
Tax Annual Amount
3836
HOA Fee
$420 Quarterly
Legal Description
LOT 03 BLK 03 CARLTON BAY SUB (See Exhibit A in Docs Tab)
Utilities
Heating system
Forced Air, Fireplace(s), Natural Gas
Cooling system
Central Air
Amenities
private courtyard
fireplace
smart-home features
tankless water heater
whole-house filtration system
energy-efficient 3-zone HVAC system
Building Details
Year built
2017
Number of units
3
Building materials
Frame, Stucco, HardiPlank Type
Roof type
Composition, Rolled Hot Mop
Listing Agency:
Homes of Idaho
(208) 442-8500
Listed By:
Faith Mikita · License #SP46678
(208) 972-1474
Added: Jun 3
Changed: Sep 2
Last Checked: Sep 3 at 9:06AM
MLS# 98988845
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.
Built in 2017, this 2,414-square-foot townhome combines four bedrooms, four bathrooms, and open living areas with polished concrete floors, custom maple cabinetry, and a fireplace in the primary suite. The property also includes a fully self-contained ADU/studio that can serve as guest space, multigenerational accommodation, a private office, or a separate rental area. A private courtyard, attached 2-car garage, smart-home features, tankless water heater, whole-house filtration, and energy-efficient 3-zone HVAC add practical functionality.
Mixed-use zoning expands the potential ways to use the property, while its Garden City setting places it near the Boise Greenbelt, foothill trails, downtown Boise, and Eagle. The home includes forced-air natural gas heating, central air, and both driveway and attached garage parking.
Mixed-use zoning expands the potential ways to use the property, while its Garden City setting places it near the Boise Greenbelt, foothill trails, downtown Boise, and Eagle. The home includes forced-air natural gas heating, central air, and both driveway and attached garage parking.
Key Highlights
- 2,414 SF townhome with 4 bedrooms and 4 bathrooms
- Fully self‑contained ADU/studio
- Mixed‑use zoning
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
$32,698
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
5.32%
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%
$653,960
$654.0K
Cap Rate 7%
$467,114
$467.1K
Cap Rate 9%
$363,311
$363.3K
Market Conditions
NOI Build-Up for 2,414 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
$50.7K $21.00/SF
− Vacancy
−$7.1K −$2.94/SF
EGI
$43.6K $18.06/SF
− OpEx
−$10.9K −$4.52/SF
NOI
$32.7K $13.54/SF
Area
Ada County, ID
Vacancy
14.00%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
25.00%
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%
$653,960
Cap Rate 7%
$467,114
Cap Rate 9%
$363,311
Alternative Uses
Best Use
Office B
$467.1K
$408.7K – $545.0K
NOI $32,698 @ 7.0% cap · market cap 5.32%
Second Best
Mixed Use
$428.3K
$374.8K – $499.7K
NOI $29,982 @ 7.0% cap · market cap 4.88%
Theoretical Best
Office A
$666.7K
$583.3K – $777.8K
NOI $46,667 @ 7.0% cap · market cap 7.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
387
Businesses Nearby
Explore this area
Business Placement
Demographics for 83714, ID
26,181
Population
11,672
Households
2.2
Avg Household Size
43
Median Age
45%
College-Educated
94%
High-School Grad
54.2 sq mi
ZIP Area
483
Density / Sq Mi
$86,114
Median Household Income
$43,867
Median Earnings
$1,384
Median Rent
$468,100
Median Home Value
Market
Vacancy Rate% for Office 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?
Live-work space - Mixed-use zoning and a separate studio support residential, office, guest, or rental configurations.
Where is this live-work space located?
The property is located at 10267 W Carlton Bay Dr Garden City, ID.
What is the asking price?
The asking price for this property is $615,000.
What are key features of this property?
This property features: 2,414 SF townhome with 4 bedrooms and 4 bathrooms; Fully self‑contained ADU/studio; Mixed‑use zoning
