Three-Unit Residential Income
New
For Sale
$790,000
1607 W Resseguie, Boise, ID 83702
Residential Income, Boise, ID
Property Size2,244 SF
Lot Size0.08 Acres
Price / SF$352.05
Days on Market2
Property Features for 1607 W Resseguie
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Bedrooms
3
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 2, Bedroom 1, Bathroom 2, Bathroom 1, Bathroom 3, Bedroom 3
Parking
4
Appliances
Disposal (No Units), Stove/Range (All Units), Refrigerator (All Units)
Subdivision
3N 2E 03
Lot features
Small Lot 5999 S F, Sidewalks
Elementary school
Washington
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
From State St, N on N 17th, E on W Ellis, proceed across Harrison to W Resseguie St
Standard status
Active
APN
S1003244320
Size
2,244 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Lengthy- See Exhibit A
Tax Annual Amount
6512
Legal Description
Lengthy- See Exhibit A
Utilities
Heating system
Natural Gas, Forced Air
Cooling system
Wall/Window Unit(s), Window Unit(s)
Building Details
Year built
1895
Number of units
3
Building materials
Frame, Wood Siding
Roof type
Composition
Listing Agency:
Boise Premier Real Estate
(208) 639-0656
Listed By:
Nick Hampton · License #SP39606
(208) 353-0871
Added: Sep 15
Last Checked: Sep 16 at 9:06AM
MLS# 99000907
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.
Built in 1895, this 2,244-square-foot triplex offers three residential units on a 0.08-acre parcel. The property includes frame construction with wood siding, a composition roof, natural gas forced-air heating, and wall or window unit cooling. Unit appliances include stoves or ranges, refrigerators, and disposals where provided.
Major capital work has included plumbing and electrical improvements, along with other system upgrades over time. The property is positioned just outside Boise’s historic district and near Harrison Boulevard, with stores, parks, trails, restaurants, and schools within walking distance. A rear garage is also identified as a possible location for conversion to an ADU, subject to applicable approvals and requirements.
Major capital work has included plumbing and electrical improvements, along with other system upgrades over time. The property is positioned just outside Boise’s historic district and near Harrison Boulevard, with stores, parks, trails, restaurants, and schools within walking distance. A rear garage is also identified as a possible location for conversion to an ADU, subject to applicable approvals and requirements.
Key Highlights
- Three‑unit property with 2,244 square feet of building area
- Situated on a 0.08‑acre lot just outside Boise’s historic district
- Major plumbing, electrical, and other capital improvements completed over time
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
$27,048
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
3.42%
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%
$540,960
$541.0K
Cap Rate 7%
$386,400
$386.4K
Cap Rate 9%
$300,533
$300.5K
Market Conditions
NOI Build-Up for 2,244 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
$39.0K $17.40/SF
− Vacancy
−$406 −$0.18/SF
EGI
$38.6K $17.22/SF
− OpEx
−$11.6K −$5.17/SF
NOI
$27.0K $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%
$540,960
Cap Rate 7%
$386,400
Cap Rate 9%
$300,533
Alternative Uses
Best Use
Multifamily LT 5
$386.4K
$338.1K – $450.8K
NOI $27,048 @ 7.0% cap · market cap 3.42%
Second Best
Apartment 5plus
$336.9K
$294.8K – $393.1K
NOI $23,585 @ 7.0% cap · market cap 2.99%
Theoretical Best
Office A
$619.7K
$542.3K – $723.0K
NOI $43,381 @ 7.0% cap · market cap 5.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
2,422
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Triplex - Triplex with updated major systems and convenient access to shops, parks, trails, restaurants, and schools.
Where is this triplex located?
The property is located at 1607 W Resseguie Boise, ID.
What is the asking price?
The asking price for this property is $790,000.
What are key features of this property?
This property features: Three‑unit property with 2,244 square feet of building area; Situated on a 0.08‑acre lot just outside Boise’s historic district; Major plumbing, electrical, and other capital improvements completed over time
