Refreshed Two-Unit
For Sale
$405,000
116 22nd Ave S, Nampa, ID 83651
Tenant-occupied property with shared laundry, driveway parking, and alley access.
Property Size1,884 SF
Price / SF$214.97
Days on Market10
Property Features for 116 22nd Ave S
General Information
Standard status
Active
Size
1,884 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Amenities
communal laundry area
fully fenced shared yard
Building Details
Year Built
1936
Listed By:
Build Idaho Real Estate Team
(208) 974-5613
Source:
Buildidaho
Added: Sep 18
Last Checked: Sep 26 at 6:50AM
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 Build Idaho Real Estate Team
Investment Insights
Based on property information with market context.
Built in 1936, this 1,884-square-foot duplex contains two separate units, each with 2 bedrooms and 1 bathroom. Recent updates include new flooring, fresh interior paint, and a newer HVAC system. Both residences share access to a communal laundry area and a fully fenced yard.
The property is located at 116 22nd Ave S in Nampa, Idaho, near downtown, shopping, schools, and commuter routes. Driveway parking and alley access support day-to-day convenience, while current tenant occupancy provides an established residential income setup.
The property is located at 116 22nd Ave S in Nampa, Idaho, near downtown, shopping, schools, and commuter routes. Driveway parking and alley access support day-to-day convenience, while current tenant occupancy provides an established residential income setup.
Key Highlights
- Two‑unit duplex totaling 1,884 square feet
- Each unit includes 2 bedrooms and 1 bathroom
- New flooring and fresh interior paint
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
$20,249
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
5.00%
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%
$404,980
$405.0K
Cap Rate 7%
$289,271
$289.3K
Cap Rate 9%
$224,989
$225.0K
Market Conditions
NOI Build-Up for 1,884 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
$30.5K $16.20/SF
− Vacancy
−$1.6K −$0.85/SF
EGI
$28.9K $15.35/SF
− OpEx
−$8.7K −$4.61/SF
NOI
$20.2K $10.75/SF
Area
Nampa, 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%
$404,980
Cap Rate 7%
$289,271
Cap Rate 9%
$224,989
Alternative Uses
Best Use
Multifamily LT 5
$289.3K
$253.1K – $337.5K
NOI $20,249 @ 7.0% cap · market cap 5.00%
Second Best
Apartment 5plus
$265.2K
$232.1K – $309.4K
NOI $18,566 @ 7.0% cap · market cap 4.58%
Theoretical Best
Office A
$476.6K
$417.0K – $556.0K
NOI $33,360 @ 7.0% cap · market cap 8.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
448
Businesses Nearby
Explore this area
Business Placement
Demographics for 83651, ID
34,509
Population
14,031
Households
2.5
Avg Household Size
35
Median Age
22%
College-Educated
86%
High-School Grad
15.9 sq mi
ZIP Area
2,170
Density / Sq Mi
$66,895
Median Household Income
$34,770
Median Earnings
$1,334
Median Rent
$312,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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?
Duplex - Tenant-occupied property with shared laundry, driveway parking, and alley access.
Where is this duplex located?
The property is located at 116 22nd Ave S Nampa, ID.
What is the asking price?
The asking price for this property is $405,000.
What are key features of this property?
This property features: Two‑unit duplex totaling 1,884 square feet; Each unit includes 2 bedrooms and 1 bathroom; New flooring and fresh interior paint
