Four-Unit Residential Income
For Sale
$676,500
5990 & 6002 S Jessenia Ln, Boise, ID 83709
Four rental homes with in-unit washer/dryer and stainless steel appliances, professionally managed under a flat-fee arrangement.
Property Size2,288 SF
Price / SF$295.67
Days on Market62
Property Features for 5990 & 6002 S Jessenia Ln
General Information
Standard status
Active
Size
2,288 SF
Property subtype
Multi-Family
Occupancy
100%
Additional Details
Business Included
Yes
Building Details
Year Built
2021
Listing Agency:
Fathom Realty
Listed By:
Janelle Anderson · License #SP42574
(208) 939-5151
Source:
Bktidaho
Added: Jul 14
Changed: Sep 8
Last Checked: Sep 13 at 1:53PM
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 Fathom Realty
Investment Insights
Based on property information with market context.
This for-sale quadplex consists of four separately addressed homes, each on its own parcel number and address. The end units offer 3 bedrooms and 2.5 bathrooms, while the center units offer 2 bedrooms and 2.5 bathrooms. Each home includes an in-unit washer/dryer and a refrigerator, with kitchens featuring granite countertops and stainless steel appliances. The property is currently fully rented, with management handled by a property manager under a 6% flat fee.
Located at 5990 S Jessenia Ln in Boise, ID 83709, the community is supported by an HOA that includes trash service, community maintenance, landscaping, and access to a clubhouse with a workout room. The seller states the property has been well maintained and will share a home inspection dated March 2026 with buyers upon offer submission.
Located at 5990 S Jessenia Ln in Boise, ID 83709, the community is supported by an HOA that includes trash service, community maintenance, landscaping, and access to a clubhouse with a workout room. The seller states the property has been well maintained and will share a home inspection dated March 2026 with buyers upon offer submission.
Key Highlights
- Four homes built in 2021, each with its own parcel number and address
- Unit mix: end units offer 3 bed/2.5 bath; center units offer 2 bed/2.5 bath
- Each unit includes in‑unit washer/dryer and a refrigerator
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
$27,578
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
4.08%
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%
$551,560
$551.6K
Cap Rate 7%
$393,971
$394.0K
Cap Rate 9%
$306,422
$306.4K
Market Conditions
NOI Build-Up for 2,288 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
$39.8K $17.40/SF
− Vacancy
−$414 −$0.18/SF
EGI
$39.4K $17.22/SF
− OpEx
−$11.8K −$5.17/SF
NOI
$27.6K $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%
$551,560
Cap Rate 7%
$393,971
Cap Rate 9%
$306,422
Alternative Uses
Best Use
Multifamily LT 5
$394.0K
$344.7K – $459.6K
NOI $27,578 @ 7.0% cap · market cap 4.08%
Second Best
Apartment 5plus
$343.5K
$300.6K – $400.8K
NOI $24,047 @ 7.0% cap · market cap 3.55%
Theoretical Best
Office A
$631.9K
$552.9K – $737.2K
NOI $44,232 @ 7.0% cap · market cap 6.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
100%
Occupancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
150
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
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Cap Rate, Value Estimation, Potential NOI and more
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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?
Quadplex - Four rental homes with in-unit washer/dryer and stainless steel appliances, professionally managed under a flat-fee arrangement.
Where is this quadplex located?
The property is located at 5990 & 6002 S Jessenia Ln Boise, ID.
What is the asking price?
The asking price for this property is $676,500.
What are key features of this property?
This property features: Four homes built in 2021, each with its own parcel number and address; Unit mix: end units offer 3 bed/2.5 bath; center units offer 2 bed/2.5 bath; Each unit includes in‑unit washer/dryer and a refrigerator
