Fourplex with Private Outdoor
For Sale
$965,000
1805 E Overland Rd. Building 40, Meridian, ID 83642
Four rental units offer split layouts, full-size laundry, appliances, and private patios or balconies.
Property Size3,380 SF
Price / SF$285.50
Days on Market12
Property Features for 1805 E Overland Rd. Building 40
General Information
Standard status
Active
Size
3,380 SF
Property subtype
Multi-Family
Additional Details
Highway Access
Yes
Multifamily Units
4
Amenities
clubhouse
pool
fitness center
playground
washer/dryer
dishwasher
microwave
refrigerator
central air conditioning
private patio/balcony with extra storage
Building Details
Year Built
2005
Buildings
1
Listing Agency:
KW Commercial
(208) 672-9000
Listed By:
Tricia Callies · License #AB18477
Source:
Adventureidahorealestate
Added: Aug 18
Changed: Aug 28
Last Checked: Aug 29 at 12:28PM
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 KW Commercial
Investment Insights
Based on property information with market context.
This 3,380-square-foot quadplex was built in 2005 and contains four rental units. Each residence includes a functional split-floor plan, full-size side-by-side washer and dryer, dishwasher, microwave, refrigerator, and central air conditioning. Private patios or balconies provide additional outdoor space, with extra storage included.
The property is located in the Sagecrest community in Meridian, with access to I-84 and Eagle Road. Shared community amenities include a furnished clubhouse, seasonal pool, 24-hour fitness center, and playground. The address is 1805 E Overland Rd., Meridian, ID 83642.
The property is located in the Sagecrest community in Meridian, with access to I-84 and Eagle Road. Shared community amenities include a furnished clubhouse, seasonal pool, 24-hour fitness center, and playground. The address is 1805 E Overland Rd., Meridian, ID 83642.
Key Highlights
- Fourplex with 3,380 square feet and four rental units
- Built in 2005
- Each unit includes full‑size side‑by‑side washer/dryer, dishwasher, microwave, refrigerator, and central air conditioning
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
$36,719
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
3.81%
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%
$734,380
$734.4K
Cap Rate 7%
$524,557
$524.6K
Cap Rate 9%
$407,989
$408.0K
Market Conditions
NOI Build-Up for 3,380 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
$54.8K $16.20/SF
− Vacancy
−$2.3K −$0.68/SF
EGI
$52.5K $15.52/SF
− OpEx
−$15.7K −$4.66/SF
NOI
$36.7K $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%
$734,380
Cap Rate 7%
$524,557
Cap Rate 9%
$407,989
Alternative Uses
Best Use
Multifamily LT 5
$524.6K
$459.0K – $612.0K
NOI $36,719 @ 7.0% cap · market cap 3.81%
Second Best
Apartment 5plus
$484.4K
$423.8K – $565.1K
NOI $33,907 @ 7.0% cap · market cap 3.51%
Theoretical Best
Office A
$892.0K
$780.5K – $1.04M
NOI $62,438 @ 7.0% cap · market cap 6.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,056
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?
Quadplex - Four rental units offer split layouts, full-size laundry, appliances, and private patios or balconies.
Where is this quadplex located?
The property is located at 1805 E Overland Rd. Building 40 Meridian, ID.
What is the asking price?
The asking price for this property is $965,000.
What are key features of this property?
This property features: Fourplex with 3,380 square feet and four rental units; Built in 2005; Each unit includes full‑size side‑by‑side washer/dryer, dishwasher, microwave, refrigerator, and central air conditioning
