Multifamily Townhome with
New
For Sale
$389,999
4617 N Carlsbad Way, Boise, ID 83703
Low-maintenance townhome with flexible living areas, private outdoor space, and convenient access to Boise recreation and dining.
Property Size1,652 SF
Price / SF$236.08
Days on Market2
Property Features for 4617 N Carlsbad Way
General Information
Standard status
Active
Size
1,652 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
1
Building Details
Year Built
1998
Listing Agency:
Silvercreek Realty Group
Listed By:
Ian Brown · License #SP45294
(208) 860-0574
Source:
Refinedrealtynw
Added: Sep 13
Last Checked: Sep 13 at 3:10PM
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.
Built in 1998, this 1,652-square-foot townhome offers a multi-level layout with three bedrooms and practical flex space. The main level includes a primary suite with a walk-in closet, ensuite bath, and a 6-foot by 6-foot bonus room with a sink. An open kitchen connects with the dining area and great room, while tall sliders open to a private back deck.
The upper level adds two bedrooms, a full bath, a loft with a skylight, and a separate flex or office area. The property is located in northwest Boise between downtown and the foothills, with restaurants, breweries, greenbelt access, and hiking and biking trails described as minutes away.
The upper level adds two bedrooms, a full bath, a loft with a skylight, and a separate flex or office area. The property is located in northwest Boise between downtown and the foothills, with restaurants, breweries, greenbelt access, and hiking and biking trails described as minutes away.
Key Highlights
- 1,652‑square‑foot townhome built in 1998
- Main‑level primary suite with walk‑in closet and ensuite bath
- 6‑foot by 6‑foot bonus room with sink
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
$17,363
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
4.45%
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%
$347,260
$347.3K
Cap Rate 7%
$248,043
$248.0K
Cap Rate 9%
$192,922
$192.9K
Market Conditions
NOI Build-Up for 1,652 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
$31.9K $19.32/SF
− Vacancy
−$348 −$0.21/SF
EGI
$31.6K $19.11/SF
− OpEx
−$14.2K −$8.60/SF
NOI
$17.4K $10.51/SF
Area
Ada County, ID
Vacancy
1.09%
Lease Rate
$19.32 /SF/Yr
Expense Ratio
45.00%
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%
$347,260
Cap Rate 7%
$248,043
Cap Rate 9%
$192,922
Alternative Uses
Best Use
Apartment 5plus
$248.0K
$217.0K – $289.4K
NOI $17,363 @ 7.0% cap · market cap 4.45%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$456.2K
$399.2K – $532.3K
NOI $31,936 @ 7.0% cap · market cap 8.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
863
Businesses Nearby
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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
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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?
Multifamily property - Low-maintenance townhome with flexible living areas, private outdoor space, and convenient access to Boise recreation and dining.
Where is this multifamily property located?
The property is located at 4617 N Carlsbad Way Boise, ID.
What is the asking price?
The asking price for this property is $389,999.
What are key features of this property?
This property features: 1,652‑square‑foot townhome built in 1998; Main‑level primary suite with walk‑in closet and ensuite bath; 6‑foot by 6‑foot bonus room with sink
