Updated Triplex with Private
For Sale
$775,000
1629 S Shoshone Street, Boise, ID 83705
Fully furnished triplex offering separate entrances, fenced backyards, and washer/dryer in every unit.
Property Size1,943 SF
Price / SF$398.87
Days on Market95
Property Features for 1629 S Shoshone Street
General Information
Standard status
Active
Size
1,943 SF
Property subtype
Triplex
Additional Details
Fenced Yard
Yes
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$3,766
Amenities
Garage: Two Car, Attached, Finished Driveway
Garage Spaces: 2
4
4.00
Two Car, Attached, Finished Driveway
2
Building Details
Year Built
1941
Listing Agency:
Keller Williams Realty Boise
(208) 672-9000
Listed By:
Jenna King · License #SP39133
Source:
Clearwaterproperties
Added: May 10
Changed: Aug 8
Last Checked: Jul 21 at 3:16AM
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 Keller Williams Realty Boise
Investment Insights
Based on property information with market context.
This fully furnished, thoughtfully updated triplex provides separate entrances and private, oversized fully fenced backyards for each unit. A full appliance package is included, with a washer/dryer provided in every unit. Unit interiors include recent updates such as LVP flooring, butcher block countertops, and newer cabinetry in Unit 1. Unit 2 offers an inviting wood-burning fireplace, oversized bedrooms, and 1.5 baths. Unit 3 includes an attached garage and additional stylish updates.
The property has key exterior and systems improvements already addressed, including exterior paint and electrical panel updates, helping reduce immediate maintenance concerns. Parking is supported by a 2-car garage plus additional off-street parking, and the yards are xeriscaped for lower water use and minimal upkeep. There is no HOA. Located at 1629 S Shoshone Street in Boise, the property is described as centrally positioned for convenient access to surrounding areas.
The property has key exterior and systems improvements already addressed, including exterior paint and electrical panel updates, helping reduce immediate maintenance concerns. Parking is supported by a 2-car garage plus additional off-street parking, and the yards are xeriscaped for lower water use and minimal upkeep. There is no HOA. Located at 1629 S Shoshone Street in Boise, the property is described as centrally positioned for convenient access to surrounding areas.
Key Highlights
- Fully furnished triplex with separate entrances and washer/dryer in every unit
- 4 bedrooms and 4.00 total bathrooms across the triplex
- Two‑car attached garage (2 garage spaces) plus additional off‑street parking
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
$23,420
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
3.02%
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%
$468,400
$468.4K
Cap Rate 7%
$334,571
$334.6K
Cap Rate 9%
$260,222
$260.2K
Market Conditions
NOI Build-Up for 1,943 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
$33.8K $17.40/SF
− Vacancy
−$352 −$0.18/SF
EGI
$33.5K $17.22/SF
− OpEx
−$10.0K −$5.17/SF
NOI
$23.4K $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%
$468,400
Cap Rate 7%
$334,571
Cap Rate 9%
$260,222
Alternative Uses
Best Use
Multifamily LT 5
$334.6K
$292.8K – $390.3K
NOI $23,420 @ 7.0% cap · market cap 3.02%
Second Best
Apartment 5plus
$291.7K
$255.3K – $340.4K
NOI $20,421 @ 7.0% cap · market cap 2.63%
Theoretical Best
Office A
$536.6K
$469.5K – $626.0K
NOI $37,562 @ 7.0% cap · market cap 4.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
826
Businesses Nearby
Explore this area
Business Placement
Demographics for 83705, ID
27,756
Population
13,228
Households
2.1
Avg Household Size
35
Median Age
38%
College-Educated
93%
High-School Grad
16.2 sq mi
ZIP Area
1,713
Density / Sq Mi
$62,605
Median Household Income
$37,283
Median Earnings
$1,166
Median Rent
$378,800
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 - Fully furnished triplex offering separate entrances, fenced backyards, and washer/dryer in every unit.
Where is this triplex located?
The property is located at 1629 S Shoshone Street Boise, ID.
What is the asking price?
The asking price for this property is $775,000.
What are key features of this property?
This property features: Fully furnished triplex with separate entrances and washer/dryer in every unit; 4 bedrooms and 4.00 total bathrooms across the triplex; Two‑car attached garage (2 garage spaces) plus additional off‑street parking
