Brick Duplex with Separate
For Sale
$499,900
2010/2012 S Denver Ave., Boise, ID 83706
Residential Income, Boise, ID
Property Size1,200 SF
Lot Size0.15 Acres
Price / SF$416.58
Days on Market69
Property Features for 2010/2012 S Denver Ave.
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bedroom 2, Bathroom 1, Bathroom 2
Parking
6
Fireplace
1
Appliances
Disposal (No Units), Stove/Range (All Units), Refrigerator (All Units), Washer/Dryer (All Units)
Subdivision
Dundee
Lot features
Standard Lot 6000-9999 S F, Bus on City Route, Garden, Irrigation
Elementary school
Garfield
Middle school
East Jr
High school
Timberline
Elementary school district
Boise School District #1
Middle school district
Boise School District #1
High school district
Boise School District #1
Directions
South on Broadway Ave., West on Chamberlin, South on Denver
Standard status
Active
APN
R1955020760
Size
1,200 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
PAR #0760 OF BLK 23 DUNDEE 3RD SUB
Tax Annual Amount
3448
Legal Description
PAR #0760 OF BLK 23 DUNDEE 3RD SUB
Utilities
Heating system
Wall Furnace, Fireplace(s), Natural Gas, Forced Air
Cooling system
Wall/Window Unit(s), Window Unit(s)
Amenities
hardwood floors
fireplace
in-unit washer/dryer
fully fenced yard
off-street parking
Building Details
Year built
1952
Number of units
2
Building materials
Brick
Roof type
Composition
Listing Agency:
Keller Williams Realty Boise
(208) 672-9000
Listed By:
Athena Killeen · License #SP55257
(208) 761-2900
Added: Jul 15
Changed: Sep 12
Last Checked: Sep 21 at 8:06AM
MLS# 98994066
Copyright © 2026 Intermountain Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,200-square-foot duplex contains two one-bedroom, one-bathroom residences, each with hardwood flooring, a fireplace, in-unit washer and dryer, a fully fenced yard, and off-street parking. Built in 1952 with brick construction, the property includes natural-gas heating, wall or window cooling units, and composition roofing. Gas, electric, and water are separately metered for each unit.
Recent improvements include replacement windows completed in 2021 and a 2024 roof project that added new soffit vents and attic insulation. Both residences are leased through Spring 2027. The property occupies 0.15 acres at 2010/2012 S Denver Ave. in Boise’s 83706 ZIP code, with proximity to BSU, Manitou Park, and the Boise Airport.
Recent improvements include replacement windows completed in 2021 and a 2024 roof project that added new soffit vents and attic insulation. Both residences are leased through Spring 2027. The property occupies 0.15 acres at 2010/2012 S Denver Ave. in Boise’s 83706 ZIP code, with proximity to BSU, Manitou Park, and the Boise Airport.
Key Highlights
- Two‑unit duplex with 1,200 square feet on a 0.15‑acre lot
- Each residence includes 1 bedroom, 1 bathroom, hardwood floors, a fireplace, and in‑unit laundry
- Separate gas, electric, and water meters for each unit
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
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Utilities to site
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
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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 one-bedroom units offer fireplaces, laundry appliances, fenced yards, and off-street parking in southeast Boise.
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 with 1,200 square feet on a 0.15‑acre lot; Each residence includes 1 bedroom, 1 bathroom, hardwood floors, a fireplace, and in‑unit laundry; Separate gas, electric, and water meters for each unit
