For Sale
$399,000
253 E Indian Rocks Ct, Meridian, ID 83646
Residential Income, Meridian, ID
Property Size1,291 SF
Lot Size0.09 Acres
Price / SF$309.06
Days on Market27
Property Features for 253 E Indian Rocks Ct
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bedroom 2, Bedroom 3, Bathroom 2, Bathroom 1
Parking
2
Parking features
Driveway
Appliances
Stove/Range (All Units), Refrigerator (All Units), Washer/Dryer (All Units)
Subdivision
Windham
Lot features
Small Lot 5999 S F, Sidewalks
Elementary school
River Valley
Middle school
Meridian Middle
High school
Meridian
Elementary school district
West Ada School District
Middle school district
West Ada School District
High school district
West Ada School District
Directions
Cherry Lane, N Meridian Rd, E Woodbury, N Larchmont, W Indian Rocks
Standard status
Active
APN
R9465310140
Size
1,291 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Lot 14 Bock 1 Windham Place
Tax Annual Amount
1647
HOA Fee
$740 Annually
Legal Description
Lot 14 Bock 1 Windham Place
Utilities
Heating system
Forced Air, Natural Gas
Building Details
Year built
2012
Number of units
1
Building materials
Frame, Stone
Roof type
Composition
Listing Agency:
Equity Northwest Real Estate
(208) 871-5288
Listed By:
Kit Fitzgerald · License #DB27185
(208) 949-6738
Added: Aug 13
Changed: Sep 3
Last Checked: Sep 8 at 1:06AM
MLS# 98997245
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.
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
$12,951
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
3.25%
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%
$259,020
$259.0K
Cap Rate 7%
$185,014
$185.0K
Cap Rate 9%
$143,900
$143.9K
Market Conditions
NOI Build-Up for 1,291 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
$24.5K $18.96/SF
− Vacancy
−$930 −$0.72/SF
EGI
$23.5K $18.24/SF
− OpEx
−$10.6K −$8.21/SF
NOI
$13.0K $10.03/SF
Area
Meridian, ID
Vacancy
3.80%
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%
$259,020
Cap Rate 7%
$185,014
Cap Rate 9%
$143,900
Alternative Uses
Best Use
Apartment 5plus
$185.0K
$161.9K – $215.9K
NOI $12,951 @ 7.0% cap · market cap 3.25%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$340.7K
$298.1K – $397.5K
NOI $23,848 @ 7.0% cap · market cap 5.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
399
Businesses Nearby
Explore this area
Business Placement
Demographics for 83646, ID
69,818
Population
26,829
Households
2.6
Avg Household Size
36
Median Age
44%
College-Educated
96%
High-School Grad
27.3 sq mi
ZIP Area
2,557
Density / Sq Mi
$101,040
Median Household Income
$47,397
Median Earnings
$1,814
Median Rent
$488,000
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
Where is this single family property located?
The property is located at 253 E Indian Rocks Ct Meridian, ID.
What is the asking price?
The asking price for this property is $399,000.
