Duplex and Mobile Home
For Sale
Contact for pricing
109 Adams St, Horseshoe Bend, ID 83629
Duplex plus five-space mobile home park with seven income streams.
Property Size3,700 SF
Lot Size0.80 Acres
Price / SF$202.68
Days on Market181
Property Features for 109 Adams St
General Information
Standard status
Active
Size
3,700 SF
Class
C
Lot size
0.80 Acres
Property subtype
Multifamily
Building Details
Year Built
2002
Listing Agency:
Pipkin & Associated, LLC
(208) 467-1712
Listed By:
Chet Pipkin · License #ID DB6320
Source:
Crexi
Added: Feb 23
Changed: Aug 8
Last Checked: Jul 23 at 2:28PM
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 Pipkin & Associated, LLC
Investment Insights
Based on property information with market context.
This property features a duplex and a five-space mobile home park, offering a total of seven income streams, situated on approximately 0.80 acres in Horseshoe Bend. The duplex, constructed in 2002, includes two units, each with 2 bedrooms and 1 bathroom. The mobile home park consists of five spaces, with two park-owned homes (generating home and pad rent) and three tenant-owned homes (generating lot rent). The property is serviced by city water and sewer, separately metered electricity, and an on-site irrigation well. The effective gross income is $67,561 with a net operating income of $50,896, resulting in a cap rate of 6.79%. There is potential for increased income, with documented rent upside of approximately $9,600+ annually as leases renew, potentially increasing the gross income to $78,600 and the cap rate to 8.05%. The property is located approximately 30 minutes north of Boise via Highway 55.
Key Highlights
- Assumable Seller Financing: Simplifies acquisition.
- Multiple Income Streams: Featuring a duplex and a 5‑space mobile home park.
- Strong Current Performance: High Effective Gross Income ($67,561) and Net Operating Income ($50,896) with a 6.79% Cap Rate.
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
$39,768
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
5.30%
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%
$795,360
$795.4K
Cap Rate 7%
$568,114
$568.1K
Cap Rate 9%
$441,867
$441.9K
Market Conditions
NOI Build-Up for 3,700 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
$59.9K $16.20/SF
− Vacancy
−$3.1K −$0.85/SF
EGI
$56.8K $15.35/SF
− OpEx
−$17.0K −$4.61/SF
NOI
$39.8K $10.75/SF
Area
Boise County, ID
Vacancy
5.22%
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%
$795,360
Cap Rate 7%
$568,114
Cap Rate 9%
$441,867
Alternative Uses
Best Use
Multifamily LT 5
$568.1K
$497.1K – $662.8K
NOI $39,768 @ 7.0% cap · market cap 5.30%
Second Best
Apartment 5plus
$520.9K
$455.8K – $607.7K
NOI $36,462 @ 7.0% cap · market cap 4.86%
Theoretical Best
Office A
$936.0K
$819.0K – $1.09M
NOI $65,517 @ 7.0% cap · market cap 8.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
54
Businesses Nearby
Explore this area
Business Placement
Demographics for 83629, ID
1,731
Population
941
Households
1.8
Avg Household Size
49
Median Age
21%
College-Educated
95%
High-School Grad
193.6 sq mi
ZIP Area
9
Density / Sq Mi
$71,944
Median Household Income
$41,952
Median Earnings
$950
Median Rent
$348,500
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 - Duplex plus five-space mobile home park with seven income streams.
Where is this duplex located?
The property is located at 109 Adams St Horseshoe Bend, ID.
What is the asking price?
The asking price for this property is $749,900.
What are key features of this property?
This property features: Assumable Seller Financing: Simplifies acquisition.; Multiple Income Streams: Featuring a duplex and a 5‑space mobile home park.; Strong Current Performance: High Effective Gross Income ($67,561) and Net Operating Income ($50,896) with a 6.79% Cap Rate.
