Well-Maintained Fourplex Near Hyde
For Sale
$925,000
Pending
912 Fort St, Boise, ID 83702
Four-unit income property near downtown Boise with established occupancy and access to parks, trails, and the Boise River Greenbelt.
Property Size3,660 SF
Days on Market10
Property Features for 912 Fort St
General Information
Standard status
Pending
Size
3,660 SF
Property subtype
Multi Family Home
Additional Details
Gross Income
$60,600
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$7,887
Amenities
5
4.00
Building Details
Year Built
1900
Listing Agency:
Homes of Idaho
(208) 514-8240
Listed By:
Karey Hunter · License #SP40920
Source:
Clearwaterproperties
Added: Aug 21
Changed: Aug 28
Last Checked: Aug 28 at 2:46PM
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 Homes of Idaho
Investment Insights
Based on property information with market context.
This four-unit residential income property contains 3,660 square feet and dates to 1900. The building has been well maintained and consistently rented, supporting an established operating history for an owner-occupant or investor. Its four-unit configuration provides distinct residential spaces within a single property.
The property is located at 912 Fort St in Boise’s North End, a short distance from Hyde Park and downtown Boise. Camel’s Back Park, the Boise River Greenbelt, and nearby hiking and biking trails add recreational access to the surrounding area. The property’s location and existing rental history support continued residential income use.
The property is located at 912 Fort St in Boise’s North End, a short distance from Hyde Park and downtown Boise. Camel’s Back Park, the Boise River Greenbelt, and nearby hiking and biking trails add recreational access to the surrounding area. The property’s location and existing rental history support continued residential income use.
Key Highlights
- Four‑unit property with 3,660 square feet
- Built in 1900 and described as well maintained
- Consistently rented with established rental history
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
$44,115
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
4.77%
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%
$882,300
$882.3K
Cap Rate 7%
$630,214
$630.2K
Cap Rate 9%
$490,167
$490.2K
Market Conditions
NOI Build-Up for 3,660 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
$63.7K $17.40/SF
− Vacancy
−$662 −$0.18/SF
EGI
$63.0K $17.22/SF
− OpEx
−$18.9K −$5.17/SF
NOI
$44.1K $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%
$882,300
Cap Rate 7%
$630,214
Cap Rate 9%
$490,167
Alternative Uses
Best Use
Multifamily LT 5
$630.2K
$551.4K – $735.3K
NOI $44,115 @ 7.0% cap · market cap 4.77%
Second Best
Apartment 5plus
$549.5K
$480.8K – $641.1K
NOI $38,467 @ 7.0% cap · market cap 4.16%
Theoretical Best
Office A
$1.01M
$884.4K – $1.18M
NOI $70,755 @ 7.0% cap · market cap 7.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
3,957
Businesses Nearby
Explore this area
Business Placement
Demographics for 83702, ID
23,951
Population
12,771
Households
1.9
Avg Household Size
40
Median Age
61%
College-Educated
97%
High-School Grad
31.4 sq mi
ZIP Area
763
Density / Sq Mi
$82,586
Median Household Income
$48,200
Median Earnings
$1,175
Median Rent
$708,000
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?
Quadplex - Four-unit income property near downtown Boise with established occupancy and access to parks, trails, and the Boise River Greenbelt.
Where is this quadplex located?
The property is located at 912 Fort St Boise, ID.
What is the asking price?
The asking price for this property is $925,000.
What are key features of this property?
This property features: Four‑unit property with 3,660 square feet; Built in 1900 and described as well maintained; Consistently rented with established rental history
