Updated Quadplex with Covered
For Sale
$1,035,000
3919 W Garnet St, Boise, ID 83703
Four residential units offer private entrances, fenced yards, and washer/dryer hookups in every unit.
Property Size3,858 SF
Price / SF$268.27
Days on Market96
Property Features for 3919 W Garnet St
General Information
Standard status
Active
Size
3,858 SF
Total Parking Spaces
8
Property subtype
Income
Zoning
City of Boise -R2
Additional Details
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$7,271
Amenities
private entrances
fenced yards
covered parking
Vinyl
Yes
6
10
Washer/Dryer Hookups (All Units)
Square Feet
Wood
10000SF - .49
City Service
0.4
8
198.3'x92.7'
Finished Driveway
3858
Building Details
Building Size
3,858 SF
Year Built
1948
Listing Agency:
Silvercreek Realty Group
(208) 908-1326
Listed By:
John Shaul
(208) 908-1326
Source:
Homesofidaho
Added: May 28
Changed: Aug 30
Last Checked: Aug 30 at 8:16AM
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 Silvercreek Realty Group
Investment Insights
Based on property information with market context.
Built in 1948, this 3,858-square-foot quadplex contains four residential units with separate entrances, fenced outdoor areas, updated interiors, and practical layouts. Vinyl finishes, natural light, mature landscaping, and large metal carports add functional appeal, while washer/dryer hookups are provided in all units. A finished driveway and city services support day-to-day operation.
The property is located at 3919 W Garnet St in Boise, with downtown Boise approximately 10 minutes away. Shopping, restaurants, and parks are nearby, and the Boise Green Belt is 2 blocks from the property with connections toward Whitewater Park and Quinn's Pond. The property is zoned City of Boise -R2.
The property is located at 3919 W Garnet St in Boise, with downtown Boise approximately 10 minutes away. Shopping, restaurants, and parks are nearby, and the Boise Green Belt is 2 blocks from the property with connections toward Whitewater Park and Quinn's Pond. The property is zoned City of Boise -R2.
Key Highlights
- Four‑unit quadplex with 3,858 square feet
- Private entrances and fenced yards for each unit
- Washer/dryer hookups in all units
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
$46,502
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
4.49%
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%
$930,040
$930.0K
Cap Rate 7%
$664,314
$664.3K
Cap Rate 9%
$516,689
$516.7K
Market Conditions
NOI Build-Up for 3,858 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
$67.1K $17.40/SF
− Vacancy
−$698 −$0.18/SF
EGI
$66.4K $17.22/SF
− OpEx
−$19.9K −$5.17/SF
NOI
$46.5K $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%
$930,040
Cap Rate 7%
$664,314
Cap Rate 9%
$516,689
Alternative Uses
Best Use
Multifamily LT 5
$664.3K
$581.3K – $775.0K
NOI $46,502 @ 7.0% cap · market cap 4.49%
Second Best
Apartment 5plus
$579.3K
$506.9K – $675.8K
NOI $40,548 @ 7.0% cap · market cap 3.92%
Theoretical Best
Office A
$1.07M
$932.3K – $1.24M
NOI $74,583 @ 7.0% cap · market cap 7.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
522
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 - Four residential units offer private entrances, fenced yards, and washer/dryer hookups in every unit.
Where is this quadplex located?
The property is located at 3919 W Garnet St Boise, ID.
What is the asking price?
The asking price for this property is $1,035,000.
What are key features of this property?
This property features: Four‑unit quadplex with 3,858 square feet; Private entrances and fenced yards for each unit; Washer/dryer hookups in all units
