Two-Home Multifamily
For Sale
$640,000
7700 N Jennie Ln & 10426 W Claudia Rd, Boise, ID 83714
Residential Income, Boise, ID
Property Size2,700 SF
Lot Size0.69 Acres
Price / SF$237.04
Days on Market47
Property Features for 7700 N Jennie Ln & 10426 W Claudia Rd
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 1, Bathroom 2, Bathroom 3, Bedroom 5, Bedroom 2, Bathroom 1, Bedroom 4, Bedroom 3
Parking
5
Subdivision
0 Not Applic.
Lot features
1/2 - .99 Acre
Elementary school
Shadow Hills
Middle school
River Glen Jr
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 (east of Horseshoe Bend Rd) turn North onto Jennie Ln (behind the Stinker Station).
Standard status
Active
APN
R7334200329 & R7334200335
Size
2,700 SF
Lot size
0.69 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LOT 1 BLK 2 & LOT 2 BLK 2 RANDALL ACRES SUB NO 09, Boise, Ada County, Idaho
Tax Annual Amount
1569
Legal Description
LOT 1 BLK 2 & LOT 2 BLK 2 RANDALL ACRES SUB NO 09, Boise, Ada County, Idaho
Utilities
Heating system
Forced Air
Building Details
Year built
1972
Number of units
2
Roof type
Composition
Listing Agency:
Silvercreek Realty Group
(208) 377-0422
Listed By:
Josh Cormier · License #DB45611
(208) 484-7104
Added: Jul 17
Changed: Aug 19
Last Checked: Sep 1 at 9:06PM
MLS# 98994305
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 multifamily offering combines two neighboring parcels totaling 0.69 acres, with approximately 2,700 square feet across a single-wide manufactured home and a double-wide manufactured home. Both residences have established long-term tenants. The improvements were built in 1972 and include forced-air heating and composition roofing.
The property is located in Boise near the Eagle border. Infrastructure includes two wells and city water available at the property. One parcel is connected to city sewer, while the other is served by septic. The two-home configuration provides separate residential improvements within a single offering, with existing occupancy and distinct utility arrangements.
The property is located in Boise near the Eagle border. Infrastructure includes two wells and city water available at the property. One parcel is connected to city sewer, while the other is served by septic. The two-home configuration provides separate residential improvements within a single offering, with existing occupancy and distinct utility arrangements.
Key Highlights
- Two neighboring parcels totaling 0.69 acres
- Approximately 2,700 square feet across one single‑wide and one double‑wide manufactured home
- Established long‑term tenants in both residences
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
$28,377
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
4.43%
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%
$567,540
$567.5K
Cap Rate 7%
$405,386
$405.4K
Cap Rate 9%
$315,300
$315.3K
Market Conditions
NOI Build-Up for 2,700 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
$52.2K $19.32/SF
− Vacancy
−$569 −$0.21/SF
EGI
$51.6K $19.11/SF
− OpEx
−$23.2K −$8.60/SF
NOI
$28.4K $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%
$567,540
Cap Rate 7%
$405,386
Cap Rate 9%
$315,300
Alternative Uses
Best Use
Apartment 5plus
$405.4K
$354.7K – $473.0K
NOI $28,377 @ 7.0% cap · market cap 4.43%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$745.7K
$652.5K – $869.9K
NOI $52,196 @ 7.0% cap · market cap 8.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
398
Businesses Nearby
Explore this area
Business Placement
Demographics for 83714, ID
26,181
Population
11,672
Households
2.2
Avg Household Size
43
Median Age
45%
College-Educated
94%
High-School Grad
54.2 sq mi
ZIP Area
483
Density / Sq Mi
$86,114
Median Household Income
$43,867
Median Earnings
$1,384
Median Rent
$468,100
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - Two adjoining parcels contain manufactured homes with established tenants and separate water and wastewater arrangements.
Where is this multifamily property located?
The property is located at 7700 N Jennie Ln & 10426 W Claudia Rd Boise, ID.
What is the asking price?
The asking price for this property is $640,000.
What are key features of this property?
This property features: Two neighboring parcels totaling 0.69 acres; Approximately 2,700 square feet across one single‑wide and one double‑wide manufactured home; Established long‑term tenants in both residences
