Fully Leased Triplex
For Sale
$475,000
Pending
1107 Elgin St., Caldwell, ID 83605
Three fully leased units generate income with easy access to I-84 via City Center Exit #28.
Property Size2,800 SF
Days on Market47
Property Features for 1107 Elgin St.
General Information
Standard status
Pending
Size
2,800 SF
Property subtype
Triplex
Occupancy
100%
Additional Details
Cap Rate
7.8%
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$1,964
Amenities
6
4.00
Building Details
Year Built
1973
Listing Agency:
Rallens Realty Consultants
(208) 870-7091
Listed By:
Joshua Hadder · License #SP49400
Source:
Clearwaterproperties
Added: Jul 17
Changed: Aug 31
Last Checked: Aug 31 at 7:06PM
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 Rallens Realty Consultants
Investment Insights
Based on property information with market context.
This for-sale triplex offers three residential units that are fully leased. The property is described as an income opportunity with a stated cap rate of 7.8% and rents noted as below market, creating room for potential rent growth. Public remarks also reference a vacancy rate under 4% in Caldwell.
The property is located at 1107 E Elgin St. in Caldwell, Idaho, with easy access to I-84 at the City Center Exit #28. The remarks note the property is just minutes from downtown Caldwell, College of Idaho, Amazon, Nampa, and Boise.
With a total property size of 2,800 square feet, this is a residential income asset positioned for investors seeking a currently leased, cash-flow focused structure.
The property is located at 1107 E Elgin St. in Caldwell, Idaho, with easy access to I-84 at the City Center Exit #28. The remarks note the property is just minutes from downtown Caldwell, College of Idaho, Amazon, Nampa, and Boise.
With a total property size of 2,800 square feet, this is a residential income asset positioned for investors seeking a currently leased, cash-flow focused structure.
Key Highlights
- Cap rate of 7.8%
- Three fully leased units with a reported <4% vacancy rate in Caldwell
- Under market rents, offering potential to increase rental income
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
$40,236
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
8.47%
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%
$804,720
$804.7K
Cap Rate 7%
$574,800
$574.8K
Cap Rate 9%
$447,067
$447.1K
Market Conditions
NOI Build-Up for 2,800 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
$75.9K $27.12/SF
− Vacancy
−$2.8K −$0.99/SF
EGI
$73.2K $26.13/SF
− OpEx
−$32.9K −$11.76/SF
NOI
$40.2K $14.37/SF
Area
Canyon County, ID
Vacancy
3.66%
Lease Rate
$27.12 /SF/Yr
Expense Ratio
45.00%
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%
$804,720
Cap Rate 7%
$574,800
Cap Rate 9%
$447,067
Alternative Uses
Best Use
Apartment 5plus
$574.8K
$503.0K – $670.6K
NOI $40,236 @ 7.0% cap · market cap 8.47%
Second Best
Multifamily LT 5
$240.0K
$210.0K – $280.0K
NOI $16,799 @ 7.0% cap · market cap 3.54%
Theoretical Best
Office A
$745.8K
$652.6K – $870.1K
NOI $52,205 @ 7.0% cap · market cap 10.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
810
Businesses Nearby
Explore this area
Business Placement
Demographics for 83605, ID
38,561
Population
14,197
Households
2.7
Avg Household Size
32
Median Age
14%
College-Educated
80%
High-School Grad
24.6 sq mi
ZIP Area
1,568
Density / Sq Mi
$60,657
Median Household Income
$31,806
Median Earnings
$973
Median Rent
$300,900
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?
Triplex - Three fully leased units generate income with easy access to I-84 via City Center Exit #28.
Where is this triplex located?
The property is located at 1107 Elgin St. Caldwell, ID.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Cap rate of 7.8%; Three fully leased units with a reported
