Updated Triplex with Modern
For Sale
$619,000
1818 W Washington St, Boise, ID 83702
Three residential units share a main-floor laundry room and feature refreshed kitchens, flooring, lighting, and HVAC.
Property Size1,592 SF
Price / SF$388.82
Days on Market26
Property Features for 1818 W Washington St
General Information
Standard status
Active
Size
1,592 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
3
Amenities
laundry room
Building Details
Year Built
1900
Listing Agency:
Amherst Madison
(208) 391-2391
Listed By:
Matt Bauscher · License #SP40991
Source:
Adventureidahorealestate
Added: Aug 6
Changed: Aug 29
Last Checked: Aug 30 at 8:42PM
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 Amherst Madison
Investment Insights
Based on property information with market context.
This 1,592-square-foot triplex contains three residences within a 1900-built property. The main-level home includes a living and dining area, full kitchen, large bedroom with an en-suite bathroom, and an adjoining room suited to use as a guest bedroom or office. Two upstairs one-bedroom units add updated kitchens and full bathrooms.
Improvements include fresh paint, new LVP flooring, contemporary lighting, a newer roof, and updated HVAC. Residents share a large laundry room on the main floor. The property is in Boise’s Historic North End, with Hyde Park, Camel’s Back Park, and downtown identified as nearby destinations.
Improvements include fresh paint, new LVP flooring, contemporary lighting, a newer roof, and updated HVAC. Residents share a large laundry room on the main floor. The property is in Boise’s Historic North End, with Hyde Park, Camel’s Back Park, and downtown identified as nearby destinations.
Key Highlights
- Three‑unit residential property with 1,592 SF of building area
- Main‑level residence includes an en‑suite bedroom and adjacent guest bedroom or office
- Two upstairs one‑bedroom units with updated kitchens and full bathrooms
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
$19,189
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
3.10%
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%
$383,780
$383.8K
Cap Rate 7%
$274,129
$274.1K
Cap Rate 9%
$213,211
$213.2K
Market Conditions
NOI Build-Up for 1,592 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
$27.7K $17.40/SF
− Vacancy
−$288 −$0.18/SF
EGI
$27.4K $17.22/SF
− OpEx
−$8.2K −$5.17/SF
NOI
$19.2K $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%
$383,780
Cap Rate 7%
$274,129
Cap Rate 9%
$213,211
Alternative Uses
Best Use
Multifamily LT 5
$274.1K
$239.9K – $319.8K
NOI $19,189 @ 7.0% cap · market cap 3.10%
Second Best
Apartment 5plus
$239.0K
$209.2K – $278.9K
NOI $16,732 @ 7.0% cap · market cap 2.70%
Theoretical Best
Office A
$439.7K
$384.7K – $513.0K
NOI $30,777 @ 7.0% cap · market cap 4.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
2,374
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 - Three residential units share a main-floor laundry room and feature refreshed kitchens, flooring, lighting, and HVAC.
Where is this triplex located?
The property is located at 1818 W Washington St Boise, ID.
What is the asking price?
The asking price for this property is $619,000.
What are key features of this property?
This property features: Three‑unit residential property with 1,592 SF of building area; Main‑level residence includes an en‑suite bedroom and adjacent guest bedroom or office; Two upstairs one‑bedroom units with updated kitchens and full bathrooms
