Townhome with Community
For Sale
$320,000
2329 E Spice Loop Unit #1, Nampa, ID 83687
Residential Income, Nampa, ID
Property Size1,380 SF
Lot Size0.10 Acres
Price / SF$231.88
Days on Market130
Property Features for 2329 E Spice Loop Unit #1
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
3
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 1, Bathroom 2, Bathroom 3, Bathroom 1, Bedroom 2, Bedroom 3
Parking
2
Appliances
Disposal (All Units), Stove/Range (All Units), Refrigerator (All Units), Washer/Dryer (All Units)
Subdivision
Covey Run
Lot features
Irrigation
Elementary school
Endeavor Nampa
Middle school
East Valley Mid
High school
Columbia
Elementary school district
Nampa School District #131
Middle school district
Nampa School District #131
High school district
Nampa School District #131
Directions
i-84, S Garrity, S Sugar, E Spice Loop
Standard status
Active
APN
31812153 0
Size
1,380 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
26-3N-2W Ne Covey Run Lt 55 Blk 1
Tax Annual Amount
1113
HOA Fee
$115 Monthly
Legal Description
26-3N-2W Ne Covey Run Lt 55 Blk 1
Utilities
Heating system
Electric (Heating)
Cooling system
Central Air
Building Details
Year built
2022
Number of units
1
Building materials
Frame, Wood Siding
Roof type
Composition
Listing Agency:
Skyline Realty
(208) 895-9944
Listed By:
Sami Lue Rice · License #SP43335
(208) 870-7585
Added: Apr 15
Changed: Aug 19
Last Checked: Aug 22 at 6:06PM
MLS# 98982191
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 townhome offers an open great-room floor plan with 9-foot ceilings and a kitchen designed for everyday living and entertaining. The kitchen features granite countertops, a large breakfast bar, and a full suite of stainless-steel appliances, including the refrigerator. An additional outdoor storage space is included, and the home also includes stackable washer and dryer.
The property is located in the quiet, well-kept Covey Run community, with community park and exclusive pool access. The home is described as low-maintenance, with no yard work required. The seller remarks that it is conveniently positioned just minutes from shopping, dining, downtown Nampa, I-84, NNU, parks, hospitals, and schools.
For tenants or owner-occupants seeking flexibility, the layout is described as a 3-bedroom, 3-full-bath configuration that can be rented as a full home or per bedroom. Upstairs, there are two spacious suites, including a primary suite with a walk-in closet. The overall package—open interior spaces, included appliances and laundry, and community amenities—supports straightforward move-in readiness for a variety of household types.
The property is located in the quiet, well-kept Covey Run community, with community park and exclusive pool access. The home is described as low-maintenance, with no yard work required. The seller remarks that it is conveniently positioned just minutes from shopping, dining, downtown Nampa, I-84, NNU, parks, hospitals, and schools.
For tenants or owner-occupants seeking flexibility, the layout is described as a 3-bedroom, 3-full-bath configuration that can be rented as a full home or per bedroom. Upstairs, there are two spacious suites, including a primary suite with a walk-in closet. The overall package—open interior spaces, included appliances and laundry, and community amenities—supports straightforward move-in readiness for a variety of household types.
Key Highlights
- 2022‑built townhome with 3 bedrooms and 3 full bathrooms
- 9‑ft ceilings and an open great‑room floor plan
- Kitchen features granite countertops and a full set of stainless‑steel appliances, including refrigerator
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
$13,599
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
4.25%
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%
$271,980
$272.0K
Cap Rate 7%
$194,271
$194.3K
Cap Rate 9%
$151,100
$151.1K
Market Conditions
NOI Build-Up for 1,380 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
$26.2K $18.96/SF
− Vacancy
−$1.4K −$1.04/SF
EGI
$24.7K $17.92/SF
− OpEx
−$11.1K −$8.06/SF
NOI
$13.6K $9.85/SF
Area
Nampa, ID
Vacancy
5.50%
Lease Rate
$18.96 /SF/Yr
Expense Ratio
45.00%
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%
$271,980
Cap Rate 7%
$194,271
Cap Rate 9%
$151,100
Alternative Uses
Best Use
Apartment 5plus
$194.3K
$170.0K – $226.7K
NOI $13,599 @ 7.0% cap · market cap 4.25%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$349.1K
$305.5K – $407.3K
NOI $24,436 @ 7.0% cap · market cap 7.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
9 ft
Clear height
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
234
Businesses Nearby
Explore this area
Business Placement
Demographics for 83687, ID
37,254
Population
14,484
Households
2.6
Avg Household Size
33
Median Age
27%
College-Educated
91%
High-School Grad
49.4 sq mi
ZIP Area
754
Density / Sq Mi
$72,294
Median Household Income
$40,328
Median Earnings
$1,416
Median Rent
$369,700
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Single family property - Move-in ready townhome with open great-room layout, included appliances, and community park and pool amenities.
Where is this single family property located?
The property is located at 2329 E Spice Loop Unit #1 Nampa, ID.
What is the asking price?
The asking price for this property is $320,000.
What are key features of this property?
This property features: 2022‑built townhome with 3 bedrooms and 3 full bathrooms; 9‑ft ceilings and an open great‑room floor plan; Kitchen features granite countertops and a full set of stainless‑steel appliances, including refrigerator
