Residential Income Property with Central
For Sale
$676,500
5990 & 6002 S Jessenia Ln, Boise, ID 83709
Built in 2021 with central air, forced-air heating, and a kitchen equipped with major appliances.
Property Size2,288 SF
Price / SF$295.67
Days on Market176
Property Features for 5990 & 6002 S Jessenia Ln
General Information
Standard status
Active
Size
2,288 SF
Total Parking Spaces
4
Property subtype
Residential Income
Net Operating Income
$38,868
Taxes and HOA fees
Annual Taxes
$4,230
Amenities
Central Air
Electric, Forced Air
Disposal, Refrigerator, Cooktop, Range, Washer, Dryer
Vinyl
Building Details
Building Size
2,288 SF
Year Built
2021
Listing Agency:
Fathom Realty
(208) 971-5678
Listed By:
Janelle Anderson · License #SP42574
(208) 971-5678
Source:
Evrealestate
Added: Mar 8
Changed: Aug 22
Last Checked: Aug 31 at 12:57PM
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 residential income property at 5990 & 6002 S Jessenia Ln in Boise, Idaho, was built in 2021. The improvements include central air, electric forced-air heating, and vinyl exterior siding.
Interior equipment includes a disposal, refrigerator, cooktop, range, washer, and dryer. The property is located in Ada County, with access from Five Mile via Lake Hazel and Charlesworth to Jessenia Lane.
Interior equipment includes a disposal, refrigerator, cooktop, range, washer, and dryer. The property is located in Ada County, with access from Five Mile via Lake Hazel and Charlesworth to Jessenia Lane.
Key Highlights
- Built in 2021
- Central air and electric forced‑air heating
- Kitchen appliances include disposal, refrigerator, cooktop, and range
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
$24,047
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
3.55%
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%
$480,940
$480.9K
Cap Rate 7%
$343,529
$343.5K
Cap Rate 9%
$267,189
$267.2K
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
$44.2K $19.32/SF
− Vacancy
−$482 −$0.21/SF
EGI
$43.7K $19.11/SF
− OpEx
−$19.7K −$8.60/SF
NOI
$24.0K $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%
$480,940
Cap Rate 7%
$343,529
Cap Rate 9%
$267,189
Alternative Uses
Best Use
Apartment 5plus
$343.5K
$300.6K – $400.8K
NOI $24,047 @ 7.0% cap · market cap 3.55%
Second Best
—
—
no second resolved use
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
Property Profile
Current Use
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Built in 2021 with central air, forced-air heating, and a kitchen equipped with major appliances.
Where is this residential income property 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: Built in 2021; Central air and electric forced‑air heating; Kitchen appliances include disposal, refrigerator, cooktop, and range
