Leased Triplex With Covered
New
For Sale
$479,900
240 High St, Nampa, ID 83651
MULTI_FAMILY - Nampa, ID
Property Size2,128 SF
Lot Size0.23 Acres
Price / SF$225.52
Days on Market4
Property Features for 240 High St
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Bedrooms
4
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 4, Bedroom 2, Bathroom 1, Bathroom 2, Bathroom 3, Bedroom 1, Bedroom 3
Parking
3
Parking features
Carport
Appliances
Disposal (All Units), Stove/Range (All Units), Refrigerator (All Units), Washer/Dryer (No Units)
Subdivision
Yale Park
Lot features
10000 S F - .49, Sidewalks
Elementary school
Central
Middle school
Lone Star Middle School
High school
Nampa
Elementary school district
Nampa School District #131
Middle school district
Nampa School District #131
High school district
Nampa School District #131
Directions
South on Northside Blvd from I84, West on High st.
Standard status
Active
APN
167890000
Size
2,128 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
21-3N-2W SE YALE PARK ADD TX 2 OF BLK 80 Canyon County Nampa ID
Tax Annual Amount
3094
Legal Description
21-3N-2W SE YALE PARK ADD TX 2 OF BLK 80 Canyon County Nampa ID
Utilities
Heating system
Ceiling
Amenities
covered parking
storage unit
Building Details
Year built
1965
Number of units
3
Flooring type
Laminate
Building materials
Masonry
Roof type
Composition
Listing Agency:
Boise Premier Real Estate
(208) 639-0656
Listed By:
Mark Knight · License #AB39474
(208) 577-1487
Added: Aug 6
Changed: Aug 9
Last Checked: Aug 9 at 1:06PM
MLS# 98996464
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 2,128-square-foot triplex on a 0.23-acre parcel contains three residential units and is fully leased. Built in 1965, the property has masonry construction, a composition roof, laminate flooring, ceiling heat, and carport parking. Each unit includes covered parking with an attached storage unit. Recent property improvements include new windows, carpet flooring, and upgraded fixtures. Appliances provided across the units include disposals, stoves or ranges, and refrigerators; washer and dryer appliances are not included. The property is located at 240 High St in Nampa, Idaho, with access to I-84 and Downtown Nampa identified in the listing information.
Key Highlights
- Three‑unit residential property with 2,128 square feet of building area
- Fully leased triplex with covered carport parking for each unit
- Each unit includes an attached storage unit
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
$22,872
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
4.77%
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%
$457,440
$457.4K
Cap Rate 7%
$326,743
$326.7K
Cap Rate 9%
$254,133
$254.1K
Market Conditions
NOI Build-Up for 2,128 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
$34.5K $16.20/SF
− Vacancy
−$1.8K −$0.85/SF
EGI
$32.7K $15.35/SF
− OpEx
−$9.8K −$4.61/SF
NOI
$22.9K $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%
$457,440
Cap Rate 7%
$326,743
Cap Rate 9%
$254,133
Alternative Uses
Best Use
Multifamily LT 5
$326.7K
$285.9K – $381.2K
NOI $22,872 @ 7.0% cap · market cap 4.77%
Second Best
Apartment 5plus
$299.6K
$262.1K – $349.5K
NOI $20,970 @ 7.0% cap · market cap 4.37%
Theoretical Best
Office A
$538.3K
$471.0K – $628.0K
NOI $37,681 @ 7.0% cap · market cap 7.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
648
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?
Triplex - Masonry construction, updated fixtures, and covered carport parking serve all three residential units.
Where is this triplex located?
The property is located at 240 High St Nampa, ID.
What is the asking price?
The asking price for this property is $479,900.
What are key features of this property?
This property features: Three‑unit residential property with 2,128 square feet of building area; Fully leased triplex with covered carport parking for each unit; Each unit includes an attached storage unit
