Duplex With Two Separate
For Sale
$599,000
Pending
625 & 627 E Pennsylvania St, Boise, ID 83706
Residential Income, Boise, ID
Property Size1,920 SF
Lot Size0.26 Acres
Days on Market153
Property Features for 625 & 627 E Pennsylvania St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
R-2
Bedrooms
4
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 2, Bathroom 1, Bedroom 4, Bathroom 2, Bedroom 1, Bedroom 3, Bathroom 3
Parking
4
Parking features
Carport, Driveway
Fireplace
1
Appliances
Disposal (No Units), Stove/Range (All Units), Refrigerator (No Units), Washer/Dryer (No Units)
Subdivision
Utter Sub
Lot features
10000 S F - .49, Bus on City Route, Garden
Elementary school
White Pine
Middle school
Les Bois
High school
Timberline
Elementary school district
Boise School District #1
Middle school district
Boise School District #1
High school district
Boise School District #1
Directions
Boise Avenue, East on Pennsylvania
Standard status
Pending
APN
R8930000022
Size
1,920 SF
Lot size
0.26 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Exhibit A
Tax Annual Amount
4468
Legal Description
Exhibit A
Utilities
Heating system
Natural Gas, Fireplace(s), Forced Air
Cooling system
Central Air
Water source
Well
Amenities
gas fireplace
deck
carport
storage shed
shared yard
mature landscaping
Building Details
Year built
1950
Number of units
2
Flooring type
Vinyl
Building materials
Frame, HardiPlank Type
Roof type
Composition
Listing Agency:
Silvercreek Realty Group
(208) 377-0422
Listed By:
Rita Braithwaite · License #SP22657
(208) 484-2468
Added: Apr 15
Changed: Sep 12
Last Checked: Sep 14 at 5:06PM
MLS# 98982179
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 Boise duplex property comprises two separate homes on one lot. The front residence contains 1,072 square feet with two bedrooms, one bathroom, a gas fireplace insert, back deck, carport, and small storage shed. The rear residence measures 680 square feet and includes two bedrooms, each with its own private bathroom, plus a large storage shed. Both dwellings share a well and a spacious yard with mature landscaping and sprinklers.
The property includes natural gas forced-air heating, central air, vinyl flooring, frame and HardiPlank Type construction, and composition roofing. Appliances include stoves/ranges in both homes, along with refrigerators, a disposal, and washer/dryer equipment. The well pump was replaced in Nov. 2025. Both units are currently vacant, and new carpet and paint are being completed in the back home.
The property includes natural gas forced-air heating, central air, vinyl flooring, frame and HardiPlank Type construction, and composition roofing. Appliances include stoves/ranges in both homes, along with refrigerators, a disposal, and washer/dryer equipment. The well pump was replaced in Nov. 2025. Both units are currently vacant, and new carpet and paint are being completed in the back home.
Key Highlights
- Two separate homes on one 0.26‑acre lot
- Front home: 1,072 sq ft, 2 bedrooms, 1 bathroom, carport, deck, and storage shed
- Back home: 680 sq ft, 2 bedrooms, 2 bathrooms with private bathrooms for each bedroom
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
$23,142
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
3.86%
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%
$462,840
$462.8K
Cap Rate 7%
$330,600
$330.6K
Cap Rate 9%
$257,133
$257.1K
Market Conditions
NOI Build-Up for 1,920 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
$33.4K $17.40/SF
− Vacancy
−$347 −$0.18/SF
EGI
$33.1K $17.22/SF
− OpEx
−$9.9K −$5.17/SF
NOI
$23.1K $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%
$462,840
Cap Rate 7%
$330,600
Cap Rate 9%
$257,133
Alternative Uses
Best Use
Multifamily LT 5
$330.6K
$289.3K – $385.7K
NOI $23,142 @ 7.0% cap · market cap 3.86%
Second Best
Apartment 5plus
$288.3K
$252.3K – $336.3K
NOI $20,180 @ 7.0% cap · market cap 3.37%
Theoretical Best
Office A
$530.2K
$464.0K – $618.6K
NOI $37,117 @ 7.0% cap · market cap 6.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
585
Businesses Nearby
Explore this area
Business Placement
Demographics for 83706, ID
34,446
Population
15,992
Households
2.2
Avg Household Size
31
Median Age
57%
College-Educated
95%
High-School Grad
7.4 sq mi
ZIP Area
4,655
Density / Sq Mi
$81,101
Median Household Income
$33,331
Median Earnings
$1,378
Median Rent
$488,900
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?
Duplex - Two separate homes share a well, spacious yard, mature landscaping, and on-site parking.
Where is this duplex located?
The property is located at 625 & 627 E Pennsylvania St Boise, ID.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Two separate homes on one 0.26‑acre lot; Front home: 1,072 sq ft, 2 bedrooms, 1 bathroom, carport, deck, and storage shed; Back home: 680 sq ft, 2 bedrooms, 2 bathrooms with private bathrooms for each bedroom
