Triplex with Flexible Living
For Sale
$919,900
225 E 36th Street, Garden City, ID 83714
Residential Income, Garden City, ID
Property Size2,422 SF
Price / SF$379.81
Days on Market9
Property Features for 225 E 36th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
5
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 5, Bathroom 4, Bedroom 1, Bathroom 2, Bedroom 4, Bedroom 2, Bathroom 3, Bedroom 3, Bathroom 1
Parking
2
Appliances
Disposal (Some Units), Stove/Range (Some Units), Refrigerator (All Units), Washer/Dryer (Some Units)
Subdivision
Fairview Acres
Lot features
Small Lot 5999 S F, Bus on City Route, Sidewalks
Elementary school
Adams
Middle school
North Jr
High school
Boise
Elementary school district
Boise School District #1
Middle school district
Boise School District #1
High school district
Boise School District #1
Directions
From Chinden, East on 36th
Standard status
Active
APN
R2734540335
Size
2,422 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
PAR #0335 OF LOTS 29-30 BLK 28 FAIRVIEW ACRES SUB NO 5 PARCEL B ROS 10544 #0331-B #0311-S
Tax Annual Amount
7304
Legal Description
PAR #0335 OF LOTS 29-30 BLK 28 FAIRVIEW ACRES SUB NO 5 PARCEL B ROS 10544 #0331-B #0311-S
Utilities
Heating system
Forced Air, Ductless (Heating), Electric (Heating), Natural Gas
Cooling system
Zoned, Central Air, Ductless
Building Details
Year built
2018
Number of units
3
Building materials
Synthetic, HardiPlank Type
Roof type
Composition
Listing Agency:
Group One Sotheby's Int'l Realty · Sotheby's International Realty
(208) 287-5000
Listed By:
Kim Davis · License #AB18473
(208) 941-2288
Added: Sep 18
Changed: Sep 25
Last Checked: Sep 26 at 6:06AM
MLS# 99001299
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.
Built in 2018, this 2,422-square-foot triplex combines three distinct living areas on one parcel. The primary residence is a three-bedroom, two-and-a-half-bath townhome. A main-level casita provides a private entrance, full bath, and ductless mini-split. The detached garage and loft area add another private-entry space with a kitchenette, full bath, washer and dryer, and ductless mini-split. The property was recently repainted and professionally cleaned inside and out.
The property is located at 225 E 36th Street in Garden City, near the Boise River Greenbelt, Boise Whitewater Park, restaurants, wineries, breweries, coffee shops, and shopping. Downtown Boise is accessible from the property. There is no HOA. Additional features include central air, forced-air and natural-gas heating, zoned cooling, composition roofing, and refrigerators in all units.
The property is located at 225 E 36th Street in Garden City, near the Boise River Greenbelt, Boise Whitewater Park, restaurants, wineries, breweries, coffee shops, and shopping. Downtown Boise is accessible from the property. There is no HOA. Additional features include central air, forced-air and natural-gas heating, zoned cooling, composition roofing, and refrigerators in all units.
Key Highlights
- Three distinct living areas on one parcel
- 2,422 square feet; built in 2018
- Main residence offers 3 bedrooms and 2.5 baths
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
$29,193
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
3.17%
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%
$583,860
$583.9K
Cap Rate 7%
$417,043
$417.0K
Cap Rate 9%
$324,367
$324.4K
Market Conditions
NOI Build-Up for 2,422 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
$42.1K $17.40/SF
− Vacancy
−$438 −$0.18/SF
EGI
$41.7K $17.22/SF
− OpEx
−$12.5K −$5.17/SF
NOI
$29.2K $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%
$583,860
Cap Rate 7%
$417,043
Cap Rate 9%
$324,367
Alternative Uses
Best Use
Multifamily LT 5
$417.0K
$364.9K – $486.6K
NOI $29,193 @ 7.0% cap · market cap 3.17%
Second Best
Apartment 5plus
$363.7K
$318.2K – $424.3K
NOI $25,456 @ 7.0% cap · market cap 2.77%
Theoretical Best
Office A
$668.9K
$585.3K – $780.4K
NOI $46,822 @ 7.0% cap · market cap 5.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
897
Businesses Nearby
Explore this area
Business Placement
Demographics for 83714, ID
26,181
Population
11,672
Households
2.2
Avg Household Size
43
Median Age
45%
College-Educated
94%
High-School Grad
54.2 sq mi
ZIP Area
483
Density / Sq Mi
$86,114
Median Household Income
$43,867
Median Earnings
$1,384
Median Rent
$468,100
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?
Triplex - Three separate living areas include a townhome, private-entry casita, and garage loft with independent amenities.
Where is this triplex located?
The property is located at 225 E 36th Street Garden City, ID.
What is the asking price?
The asking price for this property is $919,900.
What are key features of this property?
This property features: Three distinct living areas on one parcel; 2,422 square feet; built in 2018; Main residence offers 3 bedrooms and 2.5 baths
