Duplex With Development
For Sale
$467,000
303 W Pine Ave, Meridian, ID 83642
Residential Income, Meridian, ID
Property Size2,138 SF
Price / SF$218.43
Days on Market150
Property Features for 303 W Pine Ave
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
R-15
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 2, Bedroom 1, Bathroom 1, Bedroom 4, Bathroom 2
Parking
2
Parking features
RV, Carport, Driveway
Appliances
Stove/Range (All Units), Refrigerator (All Units)
Subdivision
Westview
Lot features
Standard Lot 6000-9999 S F, Garden, Irrigation, R. V. Parking
Elementary school
Meridian
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
Meridian Rd, W on Pine.
Standard status
Active
APN
R9323750565
Size
2,138 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
The East 70 feet of lots 1 and 2 in block 8 of West View Addition to Meridian, according to the official plat thereof, filed in Book 2 of Plats at Page 68, records of Ada County, Idaho.
Tax Annual Amount
1205
Legal Description
The East 70 feet of lots 1 and 2 in block 8 of West View Addition to Meridian, according to the official plat thereof, filed in Book 2 of Plats at Page 68, records of Ada County, Idaho.
Utilities
Cooling system
Ductless, Zoned
Amenities
washer and dryer hookups
RV parking
mini split AC
Building Details
Year built
1957
Number of units
2
Building materials
Brick
Roof type
Composition
Listing Agency:
TripleCord Real Estate
(208) 861-5639
Listed By:
Anna Strausbaugh · License #SP47985
(208) 890-5236
Added: May 19
Changed: Sep 13
Last Checked: Oct 15 at 3:06AM
MLS# 98986815
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.
This 2,138-square-foot duplex contains two separate two-bedroom, one-bath units, offering a clear two-unit residential income configuration. Both units include washer and dryer hookups, along with a stove/range and refrigerator. Property improvements include new windows, electrical service, plumbing, and ductless mini-split cooling. The composition roof is 8 years old, and the building was constructed with brick materials in 1957.
Located at 303 W Pine Ave in Meridian, the property occupies a corner lot with no HOA. Parking features include a carport, driveway, and RV parking. The rear portion has been split and fully entitled as a single-family homesite, providing a separate development component alongside the existing duplex.
Located at 303 W Pine Ave in Meridian, the property occupies a corner lot with no HOA. Parking features include a carport, driveway, and RV parking. The rear portion has been split and fully entitled as a single-family homesite, providing a separate development component alongside the existing duplex.
Key Highlights
- Two separate 2‑bedroom, 1‑bath units within a 2,138‑square‑foot duplex
- Fully entitled single‑family homesite split from the backyard
- New windows, electrical, plumbing, and ductless mini‑split cooling
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,227
Cap Rate
4.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$464,540
$464.5K
Cap Rate 7%
$331,814
$331.8K
Cap Rate 9%
$258,078
$258.1K
Market Conditions
NOI Build-Up for 2,138 SF
Gross rent
$34.6K $16.20/SF
− Vacancy
−$1.5K −$0.68/SF
EGI
$33.2K $15.52/SF
− OpEx
−$10.0K −$4.66/SF
NOI
$23.2K $10.86/SF
Area
Meridian, ID
Vacancy
4.20%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$464,540
Cap Rate 7%
$331,814
Cap Rate 9%
$258,078
Alternative Uses
Best Use
Multifamily LT 5
$331.8K
$290.3K – $387.1K
NOI $23,227 @ 7.0% cap · market cap 4.97%
Second Best
Apartment 5plus
$306.4K
$268.1K – $357.5K
NOI $21,448 @ 7.0% cap · market cap 4.59%
Theoretical Best
Office A
$564.2K
$493.7K – $658.3K
NOI $39,495 @ 7.0% cap · market cap 8.46%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,360
Businesses Nearby
Explore this area
Business Placement
Demographics for 83642, ID
55,465
Population
22,700
Households
2.4
Avg Household Size
35
Median Age
44%
College-Educated
95%
High-School Grad
41.5 sq mi
ZIP Area
1,337
Density / Sq Mi
$96,361
Median Household Income
$45,824
Median Earnings
$1,629
Median Rent
$492,300
Median Home Value
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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?
Duplex - Two rental units share separate laundry hookups, updated systems, and flexible on-site parking including RV accommodation.
Where is this duplex located?
The property is located at 303 W Pine Ave Meridian, ID.
What is the asking price?
The asking price for this property is $467,000.
What are key features of this property?
This property features: Two separate 2‑bedroom, 1‑bath units within a 2,138‑square‑foot duplex; Fully entitled single‑family homesite split from the backyard; New windows, electrical, plumbing, and ductless mini‑split cooling
