Duplex With Attached
New
For Sale
$509,000
1906 - 1908 N Allumbaugh St, Boise, ID 83704
Two private backyards and recently upgraded interiors support comfortable occupancy in a well-maintained residential income property.
Property Size1,440 SF
Price / SF$353.47
Days on Market3
Property Features for 1906 - 1908 N Allumbaugh St
General Information
Standard status
Active
Size
1,440 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1979
Buildings
1
Listed By:
Story Real Estate
(208) 301-5935
Source:
Storyrealestate
Added: Sep 19
Last Checked: Sep 21 at 6:01AM
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 Story Real Estate
Investment Insights
Based on property information with market context.
This 1,440-square-foot duplex, built in 1979, includes two residential units with an attached one-car garage serving each side. The garages sit between the units, creating separation between living spaces. Interior improvements scheduled for Aug '26 include LVP, carpet, and paint throughout both units, along with replacement bathroom fans.
Major exterior and mechanical work includes HVAC systems installed in 2018 and 2024, plus updated siding, roofing, vinyl windows, sliders, insulation, roof venting, and solar attic fans. Each unit also has a shaded private backyard. The property is within walking distance of schools and a neighborhood park, with dining and shopping accessible nearby. It is located at 1906 - 1908 N Allumbaugh St in Boise, Idaho.
Major exterior and mechanical work includes HVAC systems installed in 2018 and 2024, plus updated siding, roofing, vinyl windows, sliders, insulation, roof venting, and solar attic fans. Each unit also has a shaded private backyard. The property is within walking distance of schools and a neighborhood park, with dining and shopping accessible nearby. It is located at 1906 - 1908 N Allumbaugh St in Boise, Idaho.
Key Highlights
- 1,440‑square‑foot duplex built in 1979
- Two attached one‑car garages positioned between the units
- Interior updates scheduled for Aug '26 include LVP, carpet, and paint in both units
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
$17,357
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
3.41%
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%
$347,140
$347.1K
Cap Rate 7%
$247,957
$248.0K
Cap Rate 9%
$192,856
$192.9K
Market Conditions
NOI Build-Up for 1,440 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
$25.1K $17.40/SF
− Vacancy
−$261 −$0.18/SF
EGI
$24.8K $17.22/SF
− OpEx
−$7.4K −$5.17/SF
NOI
$17.4K $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%
$347,140
Cap Rate 7%
$247,957
Cap Rate 9%
$192,856
Alternative Uses
Best Use
Multifamily LT 5
$248.0K
$217.0K – $289.3K
NOI $17,357 @ 7.0% cap · market cap 3.41%
Second Best
Apartment 5plus
$216.2K
$189.2K – $252.3K
NOI $15,135 @ 7.0% cap · market cap 2.97%
Theoretical Best
Office A
$397.7K
$348.0K – $464.0K
NOI $27,838 @ 7.0% cap · market cap 5.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,724
Businesses Nearby
Explore this area
Business Placement
Demographics for 83704, ID
42,430
Population
17,776
Households
2.4
Avg Household Size
37
Median Age
32%
College-Educated
92%
High-School Grad
8.8 sq mi
ZIP Area
4,822
Density / Sq Mi
$70,806
Median Household Income
$37,201
Median Earnings
$1,363
Median Rent
$354,400
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?
Duplex - Two private backyards and recently upgraded interiors support comfortable occupancy in a well-maintained residential income property.
Where is this duplex located?
The property is located at 1906 - 1908 N Allumbaugh St Boise, ID.
What is the asking price?
The asking price for this property is $509,000.
What are key features of this property?
This property features: 1,440‑square‑foot duplex built in 1979; Two attached one‑car garages positioned between the units; Interior updates scheduled for Aug '26 include LVP, carpet, and paint in both units
