Renovated 7-Unit Apartment
For Sale
$1,299,900
911 2nd St S, Nampa, ID 83651
Fourplex and triplex occupy one mixed-use-zoned parcel near downtown restaurants, retail, entertainment, and employment centers.
Property Size5,327 SF
Price / SF$244.02
Days on Market33
Property Features for 911 2nd St S
General Information
Standard status
Active
Size
5,327 SF
Property subtype
Multi-Family
Financials
Cap Rate
7.3%
Gross Income
$120,600
Additional Details
Multifamily Units
7
Building Details
Year Built
1906
Buildings
2
Listing Agency:
Coldwell Banker Tomlinson
(208) 672-0447
Listed By:
Edenn Jablonski · License #AB27022
Source:
208doors
Added: Jul 31
Changed: Aug 29
Last Checked: Aug 31 at 7:19PM
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 Coldwell Banker Tomlinson
Investment Insights
Based on property information with market context.
This 7-unit apartment property combines a 4-unit building and a 3-unit building on a single parcel with mixed-use zoning. The property totals 5,327 square feet and dates to 1906. Renovation work includes updates to the 4-plex completed within the past three years and a full renovation of the 3-plex in 2025. The improvements support an income-producing multifamily configuration with two distinct structures and a seven-unit layout.
Located at 911 2nd St S in Nampa, the property provides walkable access to downtown restaurants, retail, entertainment, and employment centers. The asset reports a 7.3% cap rate and offers a combination of renovated apartment improvements, established unit count, and mixed-use zoning.
Located at 911 2nd St S in Nampa, the property provides walkable access to downtown restaurants, retail, entertainment, and employment centers. The asset reports a 7.3% cap rate and offers a combination of renovated apartment improvements, established unit count, and mixed-use zoning.
Key Highlights
- 7‑unit configuration with a 4‑plex and 3‑plex
- 5,327‑square‑foot property on a single mixed‑use‑zoned parcel
- 3‑plex fully renovated in 2025
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
$52,495
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
4.04%
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%
$1,049,900
$1.0M
Cap Rate 7%
$749,929
$749.9K
Cap Rate 9%
$583,278
$583.3K
Market Conditions
NOI Build-Up for 5,327 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
$101.0K $18.96/SF
− Vacancy
−$5.6K −$1.04/SF
EGI
$95.4K $17.92/SF
− OpEx
−$43.0K −$8.06/SF
NOI
$52.5K $9.85/SF
Area
Nampa, ID
Vacancy
5.50%
Lease Rate
$18.96 /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%
$1,049,900
Cap Rate 7%
$749,929
Cap Rate 9%
$583,278
Alternative Uses
Best Use
Apartment 5plus
$749.9K
$656.2K – $874.9K
NOI $52,495 @ 7.0% cap · market cap 4.04%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.35M
$1.18M – $1.57M
NOI $94,326 @ 7.0% cap · market cap 7.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
7
Residential units
Location Intelligence
Trade Area within ½ mile
1,616
Businesses Nearby
Explore this area
Business Placement
Demographics for 83651, ID
34,509
Population
14,031
Households
2.5
Avg Household Size
35
Median Age
22%
College-Educated
86%
High-School Grad
15.9 sq mi
ZIP Area
2,170
Density / Sq Mi
$66,895
Median Household Income
$34,770
Median Earnings
$1,334
Median Rent
$312,500
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?
Apartment building - Fourplex and triplex occupy one mixed-use-zoned parcel near downtown restaurants, retail, entertainment, and employment centers.
Where is this apartment building located?
The property is located at 911 2nd St S Nampa, ID.
What is the asking price?
The asking price for this property is $1,299,900.
What are key features of this property?
This property features: 7‑unit configuration with a 4‑plex and 3‑plex; 5,327‑square‑foot property on a single mixed‑use‑zoned parcel; 3‑plex fully renovated in 2025
