Duplex with Fenced
For Sale
$474,900
Pending
1515 Maple Ave., Meridian, ID 83642
Duplex offering two 2-bedroom, 1-bath units with fenced yards, a one-car garage, and off-street parking.
Property Size1,752 SF
Days on Market33
Property Features for 1515 Maple Ave.
General Information
Standard status
Pending
Size
1,752 SF
Property subtype
Duplex
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Taxes and HOA fees
Annual Taxes
$2,159
Amenities
Garage: Two Car, Attached, Finished Driveway
Garage Spaces: 2
4
2.00
Two Car, Attached, Finished Driveway
2
Building Details
Year Built
1974
Listing Agency:
Stevens Realty
(208) 409-4663
Listed By:
Jeff Stevens · License #SP25328
Source:
Clearwaterproperties
Added: Jul 10
Changed: Aug 11
Last Checked: Aug 11 at 9:16AM
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 Stevens Realty
Investment Insights
Based on property information with market context.
This duplex provides two separate 2-bedroom, 1-bath units, each supported by mature, low-maintenance landscaping and fully fenced yards. The property includes a one-car garage, along with ample driveway and off-street parking. Updates mentioned include some new windows, newer flooring, and newer exterior paint.
The property is described as being in NW Meridian with convenient proximity to the freeway and the airport, as well as parks, shopping, downtown, and The District.
As a residential income property, the duplex is presented with long-term tenants in place.
The property is described as being in NW Meridian with convenient proximity to the freeway and the airport, as well as parks, shopping, downtown, and The District.
As a residential income property, the duplex is presented with long-term tenants in place.
Key Highlights
- Duplex with two 2‑bedroom, 1‑bath units
- Two‑car attached garage (2 garage spaces) with a finished driveway
- Fully fenced yards for added privacy
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
$19,033
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
4.01%
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%
$380,660
$380.7K
Cap Rate 7%
$271,900
$271.9K
Cap Rate 9%
$211,478
$211.5K
Market Conditions
NOI Build-Up for 1,752 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
$28.4K $16.20/SF
− Vacancy
−$1.2K −$0.68/SF
EGI
$27.2K $15.52/SF
− OpEx
−$8.2K −$4.66/SF
NOI
$19.0K $10.86/SF
Area
Meridian, ID
Vacancy
4.20%
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%
$380,660
Cap Rate 7%
$271,900
Cap Rate 9%
$211,478
Alternative Uses
Best Use
Multifamily LT 5
$271.9K
$237.9K – $317.2K
NOI $19,033 @ 7.0% cap · market cap 4.01%
Second Best
Apartment 5plus
$251.1K
$219.7K – $292.9K
NOI $17,576 @ 7.0% cap · market cap 3.70%
Theoretical Best
Office A
$462.3K
$404.6K – $539.4K
NOI $32,364 @ 7.0% cap · market cap 6.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
382
Businesses Nearby
Explore this area
Business Placement
Demographics for 83642, ID
55,465
Population
22,700
Households
2.4
Avg Household Size
35
Median Age
44%
College-Educated
95%
High-School Grad
41.5 sq mi
ZIP Area
1,337
Density / Sq Mi
$96,361
Median Household Income
$45,824
Median Earnings
$1,629
Median Rent
$492,300
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 offering two 2-bedroom, 1-bath units with fenced yards, a one-car garage, and off-street parking.
Where is this duplex located?
The property is located at 1515 Maple Ave. Meridian, ID.
What is the asking price?
The asking price for this property is $474,900.
What are key features of this property?
This property features: Duplex with two 2‑bedroom, 1‑bath units; Two‑car attached garage (2 garage spaces) with a finished driveway; Fully fenced yards for added privacy
