Multifamily Property with
New
For Sale
$869,900
2541 Malad St, Boise, ID 83705
Updated residential units offer private outdoor space, dedicated parking, and convenient access to Boise State University and downtown.
Property Size3,920 SF
Price / SF$221.91
Days on Market3
Property Features for 2541 Malad St
General Information
Standard status
Active
Size
3,920 SF
Property subtype
Multi Family Home
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$7,954
Amenities
vinyl windows
blinds
A/C wall units
refrigerators
laundry hook-ups
secure interior entrance
private fenced yard
private decks
fully fenced property
Garage: One Car, Detached, Finished Driveway
Garage Spaces: 1
8
4.00
One Car, Detached, Finished Driveway
1
Building Details
Year Built
1993
Listing Agency:
Homes of Idaho
(208) 407-9507
Listed By:
Rex Tedeski · License #37106
Source:
Clearwaterproperties
Added: Aug 20
Changed: Aug 21
Last Checked: Aug 21 at 8:55AM
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 Homes of Idaho
Investment Insights
Based on property information with market context.
Built in 1993, this 3,920-square-foot multifamily property includes units configured with two bedrooms and one bathroom. Each unit has a detached single-car garage, an additional front parking space, a secure interior entry, and full laundry hookups. Refrigerators are provided, while newer vinyl windows, blinds, carpet, vinyl flooring, and wall-mounted air-conditioning units support practical resident use. Interior and exterior paint are in good condition.
Outdoor features vary by level: lower units include private fenced yards, and upper units have private decks. The entire property is fenced. Its Boise setting places the property minutes from Boise State University, downtown, the airport, and freeway access.
Outdoor features vary by level: lower units include private fenced yards, and upper units have private decks. The entire property is fenced. Its Boise setting places the property minutes from Boise State University, downtown, the airport, and freeway access.
Key Highlights
- 3,920‑square‑foot multifamily property built in 1993
- Each unit includes 2 bedrooms and 1 bathroom
- Detached single‑car garage plus an additional front parking space per 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
$41,200
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
4.74%
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%
$824,000
$824.0K
Cap Rate 7%
$588,571
$588.6K
Cap Rate 9%
$457,778
$457.8K
Market Conditions
NOI Build-Up for 3,920 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
$75.7K $19.32/SF
− Vacancy
−$826 −$0.21/SF
EGI
$74.9K $19.11/SF
− OpEx
−$33.7K −$8.60/SF
NOI
$41.2K $10.51/SF
Area
Ada County, ID
Vacancy
1.09%
Lease Rate
$19.32 /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%
$824,000
Cap Rate 7%
$588,571
Cap Rate 9%
$457,778
Alternative Uses
Best Use
Apartment 5plus
$588.6K
$515.0K – $686.7K
NOI $41,200 @ 7.0% cap · market cap 4.74%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.08M
$947.3K – $1.26M
NOI $75,781 @ 7.0% cap · market cap 8.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
443
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
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - Updated residential units offer private outdoor space, dedicated parking, and convenient access to Boise State University and downtown.
Where is this multifamily property located?
The property is located at 2541 Malad St Boise, ID.
What is the asking price?
The asking price for this property is $869,900.
What are key features of this property?
This property features: 3,920‑square‑foot multifamily property built in 1993; Each unit includes 2 bedrooms and 1 bathroom; Detached single‑car garage plus an additional front parking space per unit
