Updated Fourplex with
For Sale
$899,000
393 393-399 S White Cloud Dr, Boise, ID 83709
Income-producing fourplex with refreshed interiors, multiple garages, and a separate shop on a low-maintenance parcel.
Property Size4,464 SF
Price / SF$201.39
Days on Market13
Property Features for 393 393-399 S White Cloud Dr
General Information
Standard status
Active
Size
4,464 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 1BR/1BA, 1 x 2BR/1.5BA, 1 x 3BR/1.5BA
Multifamily Units
4
Additional Details
Highway Access
Yes
Building Details
Year Built
1974
Listing Agency:
Silvercreek Realty Group
(208) 377-0422
Listed By:
Kelli Hall · License #SP20329
Source:
Scotreidrealty
Added: Aug 17
Changed: Aug 28
Last Checked: Aug 28 at 4:10PM
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.
Located at 393-399 S White Cloud Dr in Boise, Idaho, this 4,464-square-foot fourplex was built in 1974 and has undergone extensive remodeling and updates. The residential layout includes two one-bedroom, one-bath units, a two-bedroom unit with one and a half baths, and a three-bedroom unit with one and a half baths. Garage accommodations include a one-car garage and a two-car garage serving the residential units.
A separate 40-by-30-foot shop adds functional utility to the property and contains two distinct two-car garages. The site also provides substantial off-street parking and an easy-care yard. The property is positioned near freeway access, schools, and shopping, providing convenient connectivity to everyday services and transportation routes.
A separate 40-by-30-foot shop adds functional utility to the property and contains two distinct two-car garages. The site also provides substantial off-street parking and an easy-care yard. The property is positioned near freeway access, schools, and shopping, providing convenient connectivity to everyday services and transportation routes.
Key Highlights
- Fourplex totaling 4,464 SF, built in 1974
- Unit mix includes two 1‑bedroom units, a 2‑bedroom unit, and a 3‑bedroom unit
- Separate 40 X 30 shop with two separate 2‑car garages
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
$53,806
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
5.99%
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%
$1,076,120
$1.1M
Cap Rate 7%
$768,657
$768.7K
Cap Rate 9%
$597,844
$597.8K
Market Conditions
NOI Build-Up for 4,464 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
$77.7K $17.40/SF
− Vacancy
−$808 −$0.18/SF
EGI
$76.9K $17.22/SF
− OpEx
−$23.1K −$5.17/SF
NOI
$53.8K $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%
$1,076,120
Cap Rate 7%
$768,657
Cap Rate 9%
$597,844
Alternative Uses
Best Use
Multifamily LT 5
$768.7K
$672.6K – $896.8K
NOI $53,806 @ 7.0% cap · market cap 5.99%
Second Best
Apartment 5plus
$670.2K
$586.5K – $782.0K
NOI $46,917 @ 7.0% cap · market cap 5.22%
Theoretical Best
Office A
$1.23M
$1.08M – $1.44M
NOI $86,298 @ 7.0% cap · market cap 9.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,061
Businesses Nearby
Explore this area
Business Placement
Demographics for 83709, ID
59,461
Population
22,262
Households
2.7
Avg Household Size
38
Median Age
37%
College-Educated
96%
High-School Grad
33.7 sq mi
ZIP Area
1,764
Density / Sq Mi
$88,893
Median Household Income
$48,981
Median Earnings
$1,743
Median Rent
$440,700
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 - Income-producing fourplex with refreshed interiors, multiple garages, and a separate shop on a low-maintenance parcel.
Where is this quadplex located?
The property is located at 393 393-399 S White Cloud Dr Boise, ID.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Fourplex totaling 4,464 SF, built in 1974; Unit mix includes two 1‑bedroom units, a 2‑bedroom unit, and a 3‑bedroom unit; Separate 40 X 30 shop with two separate 2‑car garages
