Remodeled Duplex With Private
For Sale
$699,000
Pending
2177-2179 S Gekeler Ln, Boise, ID 83706
Two renovated mirror-image residences offer fireplaces, patios, fenced outdoor areas, and ductless heating and cooling.
Property Size2,048 SF
Days on Market124
Property Features for 2177-2179 S Gekeler Ln
General Information
Standard status
Pending
Size
2,048 SF
Total Parking Spaces
4
Property subtype
Income
Zoning
City of Boise-R-1C
Taxes and HOA fees
Annual Taxes
$6,316
Amenities
Yes
4
Washer/Dryer Hookups (All Units)
Square Feet
Full
Standard Lot 6000-9999 SF
City Service
0.18
1
One Car
2048
Building Details
Building Size
2,048 SF
Year Built
1977
Listing Agency:
Finding 43 Real Estate
(208) 941-3631
Listed By:
Maddie Lampman
(208) 941-3631
Source:
Homesofidaho
Added: Apr 30
Changed: Aug 30
Last Checked: Aug 30 at 4:05PM
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 Finding 43 Real Estate
Investment Insights
Based on property information with market context.
This remodeled duplex contains two mirror-image units within a 2,048-square-foot property built in 1977. Both residences feature open great-room layouts, fireplaces, updated flooring, new carpet, appliances, and ductless heating and cooling. Washer and dryer hookups are provided in all units. Each side also opens to a private patio and a large fenced backyard, while one-car parking is available.
The property is located at 2177-2179 S Gekeler Ln in Boise, near downtown, Boise State University, the Boise River and Greenbelt, restaurants, schools, grocery stores, and parks. City services are in place, and the property is zoned City of Boise-R-1C. The 0.18-acre site falls within a standard 6,000-9,999-square-foot lot classification and has no HOA restrictions.
The property is located at 2177-2179 S Gekeler Ln in Boise, near downtown, Boise State University, the Boise River and Greenbelt, restaurants, schools, grocery stores, and parks. City services are in place, and the property is zoned City of Boise-R-1C. The 0.18-acre site falls within a standard 6,000-9,999-square-foot lot classification and has no HOA restrictions.
Key Highlights
- Two‑unit duplex with mirror‑image floor plans
- 2,048 SF property on a 0.18‑acre lot
- Fully remodeled with updated flooring, carpet, appliances, and ductless HVAC
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
$24,685
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
3.53%
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%
$493,700
$493.7K
Cap Rate 7%
$352,643
$352.6K
Cap Rate 9%
$274,278
$274.3K
Market Conditions
NOI Build-Up for 2,048 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
$35.6K $17.40/SF
− Vacancy
−$371 −$0.18/SF
EGI
$35.3K $17.22/SF
− OpEx
−$10.6K −$5.17/SF
NOI
$24.7K $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%
$493,700
Cap Rate 7%
$352,643
Cap Rate 9%
$274,278
Alternative Uses
Best Use
Multifamily LT 5
$352.6K
$308.6K – $411.4K
NOI $24,685 @ 7.0% cap · market cap 3.53%
Second Best
Apartment 5plus
$307.5K
$269.1K – $358.8K
NOI $21,525 @ 7.0% cap · market cap 3.08%
Theoretical Best
Office A
$565.6K
$494.9K – $659.9K
NOI $39,592 @ 7.0% cap · market cap 5.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
829
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two renovated mirror-image residences offer fireplaces, patios, fenced outdoor areas, and ductless heating and cooling.
Where is this duplex located?
The property is located at 2177-2179 S Gekeler Ln Boise, ID.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Two‑unit duplex with mirror‑image floor plans; 2,048 SF property on a 0.18‑acre lot; Fully remodeled with updated flooring, carpet, appliances, and ductless HVAC
