Townhome with Bonus
For Sale
$389,999
4617 N Carlsbad Way, Boise, ID 83703
Residential Income, Boise, ID
Property Size1,652 SF
Lot Size0.06 Acres
Price / SF$236.08
Days on Market123
Property Features for 4617 N Carlsbad Way
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bathroom 1, Bedroom 1, Bedroom 2, Bathroom 2
Parking
2
Parking features
Driveway
Appliances
Stove/Range (All Units), Refrigerator (All Units), Washer/Dryer (All Units)
Subdivision
Forge Village
Lot features
Small Lot 5999 S F, Bus on City Route, Sidewalks
Elementary school
Pierce Pk
Middle school
Hillside
High school
Capital
Elementary school district
Boise School District #1
Middle school district
Boise School District #1
High school district
Boise School District #1
Directions
From State St and Glenwood head East on State North on Carlsbad
Standard status
Active
APN
R2889890510
Size
1,652 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LOT 04 BLK 4 FORGE VILLAGE TOWNHOUSES
Tax Annual Amount
3497
HOA Fee
$570 Quarterly
Legal Description
LOT 04 BLK 4 FORGE VILLAGE TOWNHOUSES
Utilities
Heating system
Forced Air, Natural Gas
Cooling system
Central Air
Building Details
Year built
1998
Number of units
1
Building materials
Concrete, Frame
Roof type
Composition
Listing Agency:
Silvercreek Realty Group
(208) 377-0422
Listed By:
Ian Brown · License #SP45294
(208) 860-0574
Added: Apr 22
Changed: Aug 19
Last Checked: Aug 22 at 5:06PM
MLS# 98983144
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 townhome offers a functional, low-maintenance layout designed for comfortable everyday living. The main level includes a primary suite with a walk-in closet and an en-suite bath, along with a unique 6' x 6' bonus room that features a sink. The open kitchen flows into the dining and great room, where tall sliders lead to a private back deck.
Upstairs, you’ll find two additional bedrooms, a bright loft with a skylight, and a full bath. A tucked-away flex/office space provides a dedicated area for work or other uses.
Located at 4617 N Carlsbad Way in Boise, Idaho, the property is listed for sale as a residential income or multi-family asset.
Upstairs, you’ll find two additional bedrooms, a bright loft with a skylight, and a full bath. A tucked-away flex/office space provides a dedicated area for work or other uses.
Located at 4617 N Carlsbad Way in Boise, Idaho, the property is listed for sale as a residential income or multi-family asset.
Key Highlights
- Low‑maintenance townhome built in 1998 in NW Boise
- Main‑level primary suite with walk‑in closet and ensuite bath
- 6' x 6' bonus room off the main‑level primary suite (includes a 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
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
863
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Single family property - Townhome featuring a main-level primary suite, walk-in closet, and bonus room with sink plus a private back deck.
Where is this single family 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: Low‑maintenance townhome built in 1998 in NW Boise; Main‑level primary suite with walk‑in closet and ensuite bath; 6' x 6' bonus room off the main‑level primary suite (includes a sink)
