Updated Two-Unit
For Sale
$530,000
2320-2322 E Dewey Ave, Nampa, ID 83686
Two residential units offer flexible layouts, ample parking, and recent interior improvements on a spacious lot.
Property Size3,281 SF
Lot Size0.45 Acres
Price / SF$161.54
Days on Market12
Property Features for 2320-2322 E Dewey Ave
General Information
Standard status
Active
Size
3,281 SF
Lot size
0.45 Acres
Property subtype
Multi-Family
Units
Unit Mix
1 x 4BR/1.5BA, 1 x 3BR/2BA
Multifamily Units
2
Building Details
Year Built
1928
Listing Agency:
Boise Premier Real Estate
Listed By:
Jesse Taff · License #SP46653
(208) 505-1301
Source:
Waypointidaho
Added: Sep 16
Changed: Sep 24
Last Checked: Sep 26 at 7:21AM
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 Boise Premier Real Estate
Investment Insights
Based on property information with market context.
This duplex at 2320-2322 E Dewey Ave includes 3,281 square feet across two residential units on a 0.45-acre lot. The first unit spans two levels with four bedrooms and 1.5 bathrooms, along with newer flooring, fresh paint, stainless steel kitchen appliances, and updated bathrooms featuring tile showers and vanities. The second unit provides three bedrooms and two bathrooms with a separate layout suited to everyday residential use.
Built in 1928, the property includes ample parking and substantial outdoor space. The lot may accommodate separately fenced yards or detached garages, subject to applicable requirements. There is no HOA. The duplex is near Northwest Nazarene University, local schools, shopping, and dining.
Built in 1928, the property includes ample parking and substantial outdoor space. The lot may accommodate separately fenced yards or detached garages, subject to applicable requirements. There is no HOA. The duplex is near Northwest Nazarene University, local schools, shopping, and dining.
Key Highlights
- Two‑unit duplex on a 0.45‑acre lot
- 3,281 square feet with 7 total bedrooms and 3.5 bathrooms
- First unit includes a two‑level, 4‑bedroom, 1.5‑bath layout
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
$35,264
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
6.65%
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%
$705,280
$705.3K
Cap Rate 7%
$503,771
$503.8K
Cap Rate 9%
$391,822
$391.8K
Market Conditions
NOI Build-Up for 3,281 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
$53.2K $16.20/SF
− Vacancy
−$2.8K −$0.85/SF
EGI
$50.4K $15.35/SF
− OpEx
−$15.1K −$4.61/SF
NOI
$35.3K $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%
$705,280
Cap Rate 7%
$503,771
Cap Rate 9%
$391,822
Alternative Uses
Best Use
Multifamily LT 5
$503.8K
$440.8K – $587.7K
NOI $35,264 @ 7.0% cap · market cap 6.65%
Second Best
Apartment 5plus
$461.9K
$404.2K – $538.9K
NOI $32,332 @ 7.0% cap · market cap 6.10%
Theoretical Best
Office A
$830.0K
$726.2K – $968.3K
NOI $58,097 @ 7.0% cap · market cap 10.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
172
Businesses Nearby
Explore this area
Business Placement
Demographics for 83686, ID
55,343
Population
20,283
Households
2.7
Avg Household Size
36
Median Age
27%
College-Educated
91%
High-School Grad
87.7 sq mi
ZIP Area
631
Density / Sq Mi
$83,666
Median Household Income
$40,310
Median Earnings
$1,310
Median Rent
$381,800
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 residential units offer flexible layouts, ample parking, and recent interior improvements on a spacious lot.
Where is this duplex located?
The property is located at 2320-2322 E Dewey Ave Nampa, ID.
What is the asking price?
The asking price for this property is $530,000.
What are key features of this property?
This property features: Two‑unit duplex on a 0.45‑acre lot; 3,281 square feet with 7 total bedrooms and 3.5 bathrooms; First unit includes a two‑level, 4‑bedroom, 1.5‑bath layout
