Duplex with Updated
For Sale
$499,900
2010/2012 S Denver Ave., Boise, ID 83706
Two separately metered residences offer private outdoor space, parking, and in-unit laundry near BSU and Boise Airport.
Property Size1,200 SF
Price / SF$416.58
Days on Market32
Property Features for 2010/2012 S Denver Ave.
General Information
Standard status
Active
Size
1,200 SF
Property subtype
Multi-Family
Building Details
Year Built
1952
Listing Agency:
(208) 301-5935
Listed By:
Story Real Estate
(208) 301-5935
Source:
Storyrealestate
Added: Aug 1
Changed: Aug 31
Last Checked: Aug 31 at 3:00PM
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.
Built in 1952, this 1,200-square-foot Boise duplex contains two one-bedroom, one-bath residences. Both units feature hardwood flooring, a fireplace, in-unit washer and dryer, a fully fenced yard, and off-street parking. Gas, electric, and water are separately metered for each residence. Property updates include new windows in 2021, followed by a new roof, soffit vents, and attic insulation in 2024.
The property is located near BSU, Manitou Park, and the Boise Airport. Both units are leased through Spring of 2027, providing established occupancy for the current ownership period. The offering includes the two-unit residential income configuration at 2010/2012 S Denver Ave., Boise, ID 83706.
The property is located near BSU, Manitou Park, and the Boise Airport. Both units are leased through Spring of 2027, providing established occupancy for the current ownership period. The offering includes the two-unit residential income configuration at 2010/2012 S Denver Ave., Boise, ID 83706.
Key Highlights
- Two‑unit duplex totaling 1,200 SF, built in 1952
- Each residence includes 1 bedroom and 1 bathroom
- New roof, soffit vents, and attic insulation completed in 2024
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
$14,464
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
2.89%
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%
$289,280
$289.3K
Cap Rate 7%
$206,629
$206.6K
Cap Rate 9%
$160,711
$160.7K
Market Conditions
NOI Build-Up for 1,200 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
$20.9K $17.40/SF
− Vacancy
−$217 −$0.18/SF
EGI
$20.7K $17.22/SF
− OpEx
−$6.2K −$5.17/SF
NOI
$14.5K $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%
$289,280
Cap Rate 7%
$206,629
Cap Rate 9%
$160,711
Alternative Uses
Best Use
Multifamily LT 5
$206.6K
$180.8K – $241.1K
NOI $14,464 @ 7.0% cap · market cap 2.89%
Second Best
Apartment 5plus
$180.2K
$157.7K – $210.2K
NOI $12,612 @ 7.0% cap · market cap 2.52%
Theoretical Best
Office A
$331.4K
$290.0K – $386.6K
NOI $23,198 @ 7.0% cap · market cap 4.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
632
Businesses Nearby
Explore this area
Business Placement
Demographics for 83706, ID
34,446
Population
15,992
Households
2.2
Avg Household Size
31
Median Age
57%
College-Educated
95%
High-School Grad
7.4 sq mi
ZIP Area
4,655
Density / Sq Mi
$81,101
Median Household Income
$33,331
Median Earnings
$1,378
Median Rent
$488,900
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?
Duplex - Two separately metered residences offer private outdoor space, parking, and in-unit laundry near BSU and Boise Airport.
Where is this duplex located?
The property is located at 2010/2012 S Denver Ave. Boise, ID.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: Two‑unit duplex totaling 1,200 SF, built in 1952; Each residence includes 1 bedroom and 1 bathroom; New roof, soffit vents, and attic insulation completed in 2024
