Updated Quadplex with Private
New
For Sale
$1,200,000
3009 N Tamarack Dr, Boise, ID 83703
Four separately metered units combine cottage and duplex layouts with private laundry facilities and flexible month-to-month tenancy.
Property Size4,660 SF
Price / SF$257.51
Days on Market7
Property Features for 3009 N Tamarack Dr
General Information
Standard status
Active
Size
4,660 SF
Property subtype
Multi-Family
Zoning
R1-C
Additional Details
Multifamily Units
4
Amenities
in-unit washer and dryer
private backyard
storage shed
Building Details
Year Built
1962
Buildings
3
Listing Agency:
Keller Williams Realty Boise
Listed By:
Eve-marie Bergren · License #SP46122
(208) 972-1337
Source:
Myrecollab
Added: Sep 7
Last Checked: Sep 13 at 1:25PM
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 Keller Williams Realty Boise
Investment Insights
Based on property information with market context.
This 4,660-square-foot quadplex comprises two detached cottage units and a separate duplex, creating four distinct residences on a nearly ½-acre parcel. The units have updated interiors with hardwood floors, large windows, and functional layouts. Each residence is separately metered and includes its own washer and dryer. The duplex units also have private backyard areas.
Parking is provided through a paved driveway, gravel parking areas, and individual garages, with three of the units receiving private garage space. The property includes an owner storage shed, a private well, and low-maintenance landscaping. Tenancies are long-term and month-to-month. R1-C zoning is in place, and the property is near shopping, dining, parks, and the Boise Greenbelt.
Parking is provided through a paved driveway, gravel parking areas, and individual garages, with three of the units receiving private garage space. The property includes an owner storage shed, a private well, and low-maintenance landscaping. Tenancies are long-term and month-to-month. R1-C zoning is in place, and the property is near shopping, dining, parks, and the Boise Greenbelt.
Key Highlights
- 4,660‑square‑foot quadplex on a nearly ½‑acre lot
- Two detached cottages plus one duplex create four residential units
- R1‑C zoning
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
$56,169
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
4.68%
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%
$1,123,380
$1.1M
Cap Rate 7%
$802,414
$802.4K
Cap Rate 9%
$624,100
$624.1K
Market Conditions
NOI Build-Up for 4,660 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
$81.1K $17.40/SF
− Vacancy
−$843 −$0.18/SF
EGI
$80.2K $17.22/SF
− OpEx
−$24.1K −$5.17/SF
NOI
$56.2K $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%
$1,123,380
Cap Rate 7%
$802,414
Cap Rate 9%
$624,100
Alternative Uses
Best Use
Multifamily LT 5
$802.4K
$702.1K – $936.2K
NOI $56,169 @ 7.0% cap · market cap 4.68%
Second Best
Apartment 5plus
$699.7K
$612.2K – $816.3K
NOI $48,977 @ 7.0% cap · market cap 4.08%
Theoretical Best
Office A
$1.29M
$1.13M – $1.50M
NOI $90,087 @ 7.0% cap · market cap 7.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
486
Businesses Nearby
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Business Placement
Demographics for 83703, ID
18,163
Population
7,971
Households
2.3
Avg Household Size
40
Median Age
54%
College-Educated
97%
High-School Grad
8.1 sq mi
ZIP Area
2,242
Density / Sq Mi
$74,415
Median Household Income
$41,938
Median Earnings
$1,336
Median Rent
$477,000
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?
Quadplex - Four separately metered units combine cottage and duplex layouts with private laundry facilities and flexible month-to-month tenancy.
Where is this quadplex located?
The property is located at 3009 N Tamarack Dr Boise, ID.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 4,660‑square‑foot quadplex on a nearly ½‑acre lot; Two detached cottages plus one duplex create four residential units; R1‑C zoning
