Leased Duplex on Corner
For Sale
$614,083
10024 N Hillview Drive, Hayden, ID 83835
Well-maintained duplex with two mirror-image units, each leased, featuring large fenced backyards.
Property Size2,280 SF
Price / SF$269.33
Days on Market142
Property Features for 10024 N Hillview Drive
General Information
Standard status
Active
Size
2,280 SF
Property subtype
MultiFamily
Zoning
R-1
Occupancy
100%
Additional Details
Business Included
Yes
Fenced Yard
Yes
Multifamily Units
2
Building Details
Building Size
2,280 SF
Year Built
1985
Units
2
Tenancy
Multi
Listing Agency:
Pearl Realty,LLC
(208) 762-5500
Listed By:
Joel Pearl · License #DB29302
Source:
Purewestrealestate
Added: Apr 8
Changed: Aug 8
Last Checked: Aug 26 at 5:24AM
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 Pearl Realty,LLC
Investment Insights
Based on property information with market context.
This well-maintained duplex includes two mirror-image units. Each unit is configured with 3 bedrooms and 2 bathrooms and offers a fenced backyard. Both units are currently leased.
The property sits on a corner lot at 10024 N Hillview Drive in Hayden, Idaho.
With a total building size of 2,280 square feet, the duplex presents a straightforward residential income layout with existing tenants in place.
The property sits on a corner lot at 10024 N Hillview Drive in Hayden, Idaho.
With a total building size of 2,280 square feet, the duplex presents a straightforward residential income layout with existing tenants in place.
Key Highlights
- 1985‑built duplex on a corner lot with two mirror‑image units (2,280 sq ft total building size)
- Each unit offers 3 beds and 2 baths with 1,140 sq ft per unit
- Both units are currently leased, providing an immediate income stream
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
$20,813
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
3.39%
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%
$416,260
$416.3K
Cap Rate 7%
$297,329
$297.3K
Cap Rate 9%
$231,256
$231.3K
Market Conditions
NOI Build-Up for 2,280 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
$31.5K $13.80/SF
− Vacancy
−$1.7K −$0.76/SF
EGI
$29.7K $13.04/SF
− OpEx
−$8.9K −$3.91/SF
NOI
$20.8K $9.13/SF
Area
Kootenai County, ID
Vacancy
5.50%
Lease Rate
$13.80 /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%
$416,260
Cap Rate 7%
$297,329
Cap Rate 9%
$231,256
Alternative Uses
Best Use
Multifamily LT 5
$297.3K
$260.2K – $346.9K
NOI $20,813 @ 7.0% cap · market cap 3.39%
Second Best
Apartment 5plus
$275.1K
$240.7K – $321.0K
NOI $19,258 @ 7.0% cap · market cap 3.14%
Theoretical Best
Office A
$494.6K
$432.8K – $577.0K
NOI $34,621 @ 7.0% cap · market cap 5.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Turnkey business
Opportunity
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
86
Businesses Nearby
Explore this area
Business Placement
Demographics for 83835, ID
23,157
Population
10,110
Households
2.3
Avg Household Size
46
Median Age
33%
College-Educated
95%
High-School Grad
99.4 sq mi
ZIP Area
233
Density / Sq Mi
$86,014
Median Household Income
$43,925
Median Earnings
$1,688
Median Rent
$502,400
Median Home Value
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 - Well-maintained duplex with two mirror-image units, each leased, featuring large fenced backyards.
Where is this duplex located?
The property is located at 10024 N Hillview Drive Hayden, ID.
What is the asking price?
The asking price for this property is $614,083.
What are key features of this property?
This property features: 1985‑built duplex on a corner lot with two mirror‑image units (2,280 sq ft total building size); Each unit offers 3 beds and 2 baths with 1,140 sq ft per unit; Both units are currently leased, providing an immediate income stream
