Historic Triplex with In-Unit
For Sale
$949,900
1605 N 11th St, Boise, ID 83702
Residential Income, Boise, ID
Property Size2,327 SF
Price / SF$408.21
Days on Market128
Property Features for 1605 N 11th St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
R-1CH
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 4, Bedroom 3, Bathroom 1, Bathroom 3, Bedroom 5, Bedroom 1, Bedroom 2, Bathroom 2
Parking
4
Fireplace
1
Appliances
Disposal (All Units), Stove/Range (All Units), Refrigerator (All Units)
Subdivision
Hyde Park Sub
Lot features
Standard Lot 6000-9999 S F, Garden, Sidewalks
Elementary school
Longfellow
Middle school
North Jr
High school
Boise
Elementary school district
Boise School District #1
Middle school district
Boise School District #1
High school district
Boise School District #1
Directions
State St, N on 15th St, E on Eastman, N on 11th St
Standard status
Active
APN
R3826000540
Size
2,327 SF
Taxes and HOA fees
Tax Year
2024
Tax Description
LOTS 7 & 8 BLK 9 HYDE PARK ADD
Tax Annual Amount
5949
Legal Description
LOTS 7 & 8 BLK 9 HYDE PARK ADD
Utilities
Heating system
Forced Air, Baseboard, Natural Gas, Fireplace(s)
Cooling system
Central Air
Amenities
hardwood floors
original built-ins
brick fireplace
in-unit washer/dryer
fenced backyard
garden space
storage shed
Building Details
Year built
1910
Number of units
3
Building materials
Stucco, Wood Siding
Roof type
Composition
Listing Agency:
Keller Williams Realty Boise
(208) 672-9000
Listed By:
Donny Heck · License #SP35339
(208) 631-7444
Added: Apr 16
Changed: Aug 20
Last Checked: Aug 21 at 3:06PM
MLS# 98982414
Copyright © 2026 Intermountain Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Historic triplex built in 1910 offering three residential units. The main floor apartment is a 1-bedroom, 1-bath layout with a large living area, hardwood floors, original built-ins, a brick fireplace, and a full kitchen. The second-floor apartment features 2 bedrooms, 1 bathroom, a full kitchen, and an in-unit washer/dryer. The basement apartment also has 2 bedrooms, 1 bathroom, a full kitchen, and an in-unit washer/dryer. Appliances in all units include a disposal, stove/range, and refrigerator. Construction features include stucco and wood siding, with central air and multiple heating sources including natural gas, forced air, baseboard, and fireplaces.
Set in Boise’s North End, the property is two blocks from Hyde Park. A fenced backyard provides off-street parking, garden space, and a storage shed.
With a current short-term rental operation and a documented strong income history, the property may also fit long-term tenant needs.
Set in Boise’s North End, the property is two blocks from Hyde Park. A fenced backyard provides off-street parking, garden space, and a storage shed.
With a current short-term rental operation and a documented strong income history, the property may also fit long-term tenant needs.
Key Highlights
- Built in 1910 historic triplex with stucco and wood siding construction
- Main‑floor 1 bed/1 bath with hardwood floors, original built‑ins, brick fireplace, and full kitchen
- Second‑floor 2 bed/1 bath with full kitchen and in‑unit washer/dryer
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
$28,048
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
2.95%
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%
$560,960
$561.0K
Cap Rate 7%
$400,686
$400.7K
Cap Rate 9%
$311,644
$311.6K
Market Conditions
NOI Build-Up for 2,327 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
$40.5K $17.40/SF
− Vacancy
−$421 −$0.18/SF
EGI
$40.1K $17.22/SF
− OpEx
−$12.0K −$5.17/SF
NOI
$28.0K $12.05/SF
Area
Ada County, ID
Vacancy
1.04%
Lease Rate
$17.40 /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%
$560,960
Cap Rate 7%
$400,686
Cap Rate 9%
$311,644
Alternative Uses
Best Use
Multifamily LT 5
$400.7K
$350.6K – $467.5K
NOI $28,048 @ 7.0% cap · market cap 2.95%
Second Best
Apartment 5plus
$349.4K
$305.7K – $407.6K
NOI $24,457 @ 7.0% cap · market cap 2.57%
Theoretical Best
Office A
$642.7K
$562.3K – $749.8K
NOI $44,986 @ 7.0% cap · market cap 4.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
775
Businesses Nearby
Explore this area
Business Placement
Demographics for 83702, ID
23,951
Population
12,771
Households
1.9
Avg Household Size
40
Median Age
61%
College-Educated
97%
High-School Grad
31.4 sq mi
ZIP Area
763
Density / Sq Mi
$82,586
Median Household Income
$48,200
Median Earnings
$1,175
Median Rent
$708,000
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 - Historic triplex featuring in-unit washer/dryer in two apartments and a fenced backyard with off-street parking.
Where is this triplex located?
The property is located at 1605 N 11th St Boise, ID.
What is the asking price?
The asking price for this property is $949,900.
What are key features of this property?
This property features: Built in 1910 historic triplex with stucco and wood siding construction; Main‑floor 1 bed/1 bath with hardwood floors, original built‑ins, brick fireplace, and full kitchen; Second‑floor 2 bed/1 bath with full kitchen and in‑unit washer/dryer
