Fourplex with Private
For Sale
$1,200,000
3009 N Tamarack Dr, Boise, ID 83703
MULTI_FAMILY - Boise, ID
Property Size4,660 SF
Lot Size0.46 Acres
Price / SF$257.51
Days on Market103
Property Features for 3009 N Tamarack Dr
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning description
R-1C
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 3, Bedroom 5, Bedroom 1, Bathroom 2, Bedroom 6, Bedroom 3, Bathroom 4, Bedroom 8, Bathroom 1, Bedroom 7, Bedroom 2, Bedroom 4
Parking
8
Parking features
RV, Driveway
Fireplace
1
Appliances
Disposal (Some Units), Stove/Range (All Units), Refrigerator (All Units), Washer/Dryer (All Units)
Subdivision
Wilson Sub
Lot features
10000 S F - .49, Garden, R. V. Parking
Elementary school
Collister
Middle school
Hillside
High school
Capital
Elementary school district
Boise School District #1
Middle school district
Boise School District #1
High school district
Boise School District #1
Directions
From Hill Rd & 36th St, S on 36th St, W on Taft, S on Tamarack Dr.
Standard status
Active
APN
R9441000150
Size
4,660 SF
Lot size
0.46 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Lot 18 Block 2 Wilson Sub
Tax Annual Amount
6022
Legal Description
Lot 18 Block 2 Wilson Sub
Utilities
Heating system
Forced Air, Natural Gas, Fireplace(s)
Cooling system
Central Air
Water source
Well
Amenities
in-unit washer/dryer
hardwood flooring
large windows
private backyard spaces
individual garages
owner storage shed
low-maintenance landscaping
Building Details
Year built
1962
Number of units
4
Flooring type
Engineered
Building materials
Brick
Roof type
Composition
Listing Agency:
Keller Williams Realty Boise
(208) 672-9000
Listed By:
Eve-marie Bergren · License #SP46122
(208) 972-1337
Added: May 1
Changed: Aug 10
Last Checked: Aug 11 at 11:06PM
MLS# 98984508
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.
Income-producing fourplex on a 0.46-acre lot, built in 1962. The property features a mixed configuration of two detached cottage units and one duplex, with each unit separately metered and equipped with its own washer and dryer. Interiors have been updated with engineered hardwood flooring, large windows, and functional layouts. The duplex includes private backyard spaces. Brick construction, central air, forced air heating with natural gas, and fireplaces are included, with a composition roof.
Parking is set up for convenience and low friction, with a paved drive, gravel areas, and RV parking noted. Three units include private garages, and there is an owner storage shed on site. A private well serves the property and is intended to help reduce utility costs. The exterior is supported by low-maintenance landscaping.
All tenants are long-term and month-to-month, providing flexibility. Located near shopping, dining, parks, and the Boise Greenbelt.
Parking is set up for convenience and low friction, with a paved drive, gravel areas, and RV parking noted. Three units include private garages, and there is an owner storage shed on site. A private well serves the property and is intended to help reduce utility costs. The exterior is supported by low-maintenance landscaping.
All tenants are long-term and month-to-month, providing flexibility. Located near shopping, dining, parks, and the Boise Greenbelt.
Key Highlights
- 0.46‑acre fourplex lot with mixed setup: two detached cottage units and one duplex
- R1‑C zoning with potential for future expansion or added density
- Each unit is separately metered and includes its own washer and dryer
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
Property Profile
Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
486
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - R1-C zoned fourplex with separately metered units and in-unit washer/dryer, plus private garages for three units.
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: 0.46‑acre fourplex lot with mixed setup: two detached cottage units and one duplex; R1‑C zoning with potential for future expansion or added density; Each unit is separately metered and includes its own washer and dryer
