Two-Unit Leased
New
For Sale
$849,900
2437 & 2443 S Kindful Lane, Boise, ID 83705
Both units are leased through Summer 2027, providing established occupancy for the current ownership period.
Property Size3,091 SF
Price / SF$274.96
Days on Market6
Property Features for 2437 & 2443 S Kindful Lane
General Information
Standard status
Active
Size
3,091 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
2024
Listed By:
Aspire Realty Group
(208) 615-2433
Source:
Aspirerealtyagents
Added: Sep 16
Last Checked: Sep 21 at 6:55AM
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 Aspire Realty Group
Investment Insights
Based on property information with market context.
Built in 2024, this 3,091-square-foot duplex includes two residential units in a recently constructed property. Both units are subject to current leases extending through Summer 2027, supporting continued occupancy under the existing lease term.
The property is located in Boise’s Bench area near schools, downtown Boise, parks, Micron, Boise State, and the airport. Its address includes separate unit numbers at 2437 and 2443 S Kindful Lane, reflecting the duplex configuration.
The property is located in Boise’s Bench area near schools, downtown Boise, parks, Micron, Boise State, and the airport. Its address includes separate unit numbers at 2437 and 2443 S Kindful Lane, reflecting the duplex configuration.
Key Highlights
- Two‑unit duplex built in 2024
- 3,091 square feet of total property size
- Both units leased through Summer 2027
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
$37,257
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
4.38%
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%
$745,140
$745.1K
Cap Rate 7%
$532,243
$532.2K
Cap Rate 9%
$413,967
$414.0K
Market Conditions
NOI Build-Up for 3,091 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
$53.8K $17.40/SF
− Vacancy
−$559 −$0.18/SF
EGI
$53.2K $17.22/SF
− OpEx
−$16.0K −$5.17/SF
NOI
$37.3K $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%
$745,140
Cap Rate 7%
$532,243
Cap Rate 9%
$413,967
Alternative Uses
Best Use
Multifamily LT 5
$532.2K
$465.7K – $621.0K
NOI $37,257 @ 7.0% cap · market cap 4.38%
Second Best
Apartment 5plus
$464.1K
$406.1K – $541.5K
NOI $32,487 @ 7.0% cap · market cap 3.82%
Theoretical Best
Office A
$853.6K
$746.9K – $995.9K
NOI $59,755 @ 7.0% cap · market cap 7.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
73
Businesses Nearby
Explore this area
Business Placement
Demographics for 83705, ID
27,756
Population
13,228
Households
2.1
Avg Household Size
35
Median Age
38%
College-Educated
93%
High-School Grad
16.2 sq mi
ZIP Area
1,713
Density / Sq Mi
$62,605
Median Household Income
$37,283
Median Earnings
$1,166
Median Rent
$378,800
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?
Duplex - Both units are leased through Summer 2027, providing established occupancy for the current ownership period.
Where is this duplex located?
The property is located at 2437 & 2443 S Kindful Lane Boise, ID.
What is the asking price?
The asking price for this property is $849,900.
What are key features of this property?
This property features: Two‑unit duplex built in 2024; 3,091 square feet of total property size; Both units leased through Summer 2027
