Duplex with Separate Utility
For Sale
$565,000
219 24th Ave S, Nampa, ID 83651
MULTI_FAMILY - Nampa, ID
Property Size2,948 SF
Lot Size0.16 Acres
Price / SF$191.66
Days on Market140
Property Features for 219 24th Ave S
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
7
Bathrooms
5
Full bathrooms
5
Rooms
Bathroom 4, Bathroom 5, Bedroom 1, Bedroom 4, Bathroom 1, Bedroom 3, Bedroom 7, Bathroom 3, Bedroom 2, Bedroom 6, Bathroom 2, Bedroom 5
Parking
2
Appliances
Stove/Range (All Units), Refrigerator (All Units), Washer/Dryer (All Units), Washer/Dryer (Some Units)
Subdivision
0 Not Applic.
Lot features
Standard Lot 6000-9999 S F
Elementary school
Sherman
Middle school
South Middle Nampa
High school
Skyview
Elementary school district
Nampa School District #131
Middle school district
Nampa School District #131
High school district
Nampa School District #131
Directions
12th Ave S, E Roosevelt, NE 22nd Ave S, R 3rd St S, L 24th Ave S
Standard status
Active
APN
14061000 0
Size
2,948 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
26-3N-2W Nw Park Add Lt 9 In Blk 14 Nampa, ID Canyon County
Tax Annual Amount
3839
Legal Description
26-3N-2W Nw Park Add Lt 9 In Blk 14 Nampa, ID Canyon County
Utilities
Heating system
Forced Air, Natural Gas
Cooling system
Central Air
Building Details
Year built
1915
Number of units
2
Building materials
Frame
Roof type
Composition
Listing Agency:
Keller Williams Realty Boise
(208) 672-9000
Listed By:
Arrow Tallman · License #SP42029
(208) 340-9277
Added: Mar 25
Changed: Aug 3
Last Checked: Aug 11 at 10:06AM
MLS# 98979325
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 duplex offers two separate homes on one lot, with upgrades that support both owner-occupancy and rental use. The front home features a spacious 4-bedroom, 2.5-bath layout with a main-level primary suite. The rear home is a comfortable single-level 3-bedroom, 2-bath home with its own parking and storage. Construction is frame, with forced-air natural gas heating and central air conditioning. Appliances noted include stove/range, refrigerator, and washer/dryer (all units or some units).
Key system and interior updates include newer roofs installed in 2022, HVAC/AC systems updated in 2021, updated windows, a new water heater in the rear home, and an updated electrical panel in the front. Both homes have separate utility meters for city services, gas, and power.
The property was built in 1915 and totals 2,948 square feet on a 0.16-acre lot. The front and rear homes are addressed at 219 24th Ave S and 221 24th Ave S, Nampa, ID 83651.
Key system and interior updates include newer roofs installed in 2022, HVAC/AC systems updated in 2021, updated windows, a new water heater in the rear home, and an updated electrical panel in the front. Both homes have separate utility meters for city services, gas, and power.
The property was built in 1915 and totals 2,948 square feet on a 0.16-acre lot. The front and rear homes are addressed at 219 24th Ave S and 221 24th Ave S, Nampa, ID 83651.
Key Highlights
- Newer roofs installed in 2022
- HVAC/AC systems updated in 2021
- Separate utility meters for city services, gas, and power
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
$31,685
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
5.61%
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%
$633,700
$633.7K
Cap Rate 7%
$452,643
$452.6K
Cap Rate 9%
$352,056
$352.1K
Market Conditions
NOI Build-Up for 2,948 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
$47.8K $16.20/SF
− Vacancy
−$2.5K −$0.85/SF
EGI
$45.3K $15.35/SF
− OpEx
−$13.6K −$4.61/SF
NOI
$31.7K $10.75/SF
Area
Nampa, ID
Vacancy
5.22%
Lease Rate
$16.20 /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%
$633,700
Cap Rate 7%
$452,643
Cap Rate 9%
$352,056
Alternative Uses
Best Use
Multifamily LT 5
$452.6K
$396.1K – $528.1K
NOI $31,685 @ 7.0% cap · market cap 5.61%
Second Best
Apartment 5plus
$415.0K
$363.1K – $484.2K
NOI $29,051 @ 7.0% cap · market cap 5.14%
Theoretical Best
Office A
$745.7K
$652.5K – $870.0K
NOI $52,201 @ 7.0% cap · market cap 9.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
253
Businesses Nearby
Explore this area
Business Placement
Demographics for 83651, ID
34,509
Population
14,031
Households
2.5
Avg Household Size
35
Median Age
22%
College-Educated
86%
High-School Grad
15.9 sq mi
ZIP Area
2,170
Density / Sq Mi
$66,895
Median Household Income
$34,770
Median Earnings
$1,334
Median Rent
$312,500
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 - Duplex with 2022 roofs and 2021 HVAC, updated windows, and separate utility meters for both homes.
Where is this duplex located?
The property is located at 219 24th Ave S Nampa, ID.
What is the asking price?
The asking price for this property is $565,000.
What are key features of this property?
This property features: Newer roofs installed in 2022; HVAC/AC systems updated in 2021; Separate utility meters for city services, gas, and power
