Income-Producing Fourplex on Large
For Sale
$1,200,000
Pending
3009 Tamarack Dr, Boise, ID 83703
Fourplex with upside potential on a nearly half-acre lot.
Property Size4,660 SF
Lot Size0.50 Acres
Days on Market78
Property Features for 3009 Tamarack Dr
General Information
Standard status
Pending
Size
4,660 SF
Lot size
0.50 Acres
Property subtype
Multi Family Home
Taxes and HOA fees
Annual Taxes
$6,021
Amenities
Garage: One Car, Attached, RV Access/Parking, Finished Driveway
Garage Spaces: 1
8
4.00
One Car, Attached, RV Access/Parking, Finished Driveway
1
Building Details
Year Built
1962
Listing Agency:
Keller Williams Realty Boise
(208) 972-1337
Listed By:
Eve-marie Bergren · License #SP46122
Source:
Clearwaterproperties
Added: May 26
Changed: Aug 11
Last Checked: Aug 11 at 9:05AM
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 income-producing fourplex is well-positioned on a nearly half-acre lot, offering both stability and upside. The property features a unique mix of two detached cottage units and one duplex, appealing to a wide tenant base. It is zoned R1-C, providing potential for future expansion or added density. Each unit is separately metered and includes its own washer and dryer for tenant convenience. Interiors have been updated with hardwood flooring, large windows, and functional layouts. The duplex units enjoy private backyard spaces. Ample parking includes a paved drive, gravel areas, and individual garages; three units include private garages, plus an owner storage shed. A private well helps reduce utility costs, and low-maintenance landscaping keeps expenses down. All tenants are long-term and month-to-month, offering flexibility with the opportunity to increase rents to market rates. The property is in a desirable location near shopping, dining, parks, and the Boise Greenbelt. The property size is 4660 square feet.
Key Highlights
- Income‑producing fourplex on a nearly ½‑acre lot with upside potential.
- Unique mix of two detached cottage units and one duplex, appealing to a wide tenant base.
- Zoned R1‑C, providing potential for future expansion or added density.
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
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Fourplex with upside potential on a nearly half-acre lot.
Where is this quadplex located?
The property is located at 3009 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: Income‑producing fourplex on a nearly ½‑acre lot with upside potential.; Unique mix of two detached cottage units and one duplex, appealing to a wide tenant base.; Zoned R1‑C, providing potential for future expansion or added density.
