Four-Unit
New
For Sale
$925,000
Pending
912 W Fort St, Boise, ID 83702
Residential Income, Boise, ID
Property Size3,660 SF
Lot Size0.11 Acres
Days on Market5
Property Features for 912 W Fort St
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning description
R-2
Bedrooms
5
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 4, Bedroom 2, Bedroom 3, Bathroom 2, Bathroom 4, Bathroom 1, Bedroom 5, Bedroom 1, Bathroom 3
Parking
4
Appliances
Disposal (No Units), Stove/Range (All Units), Refrigerator (All Units), Washer/Dryer (No Units)
Subdivision
Dickinson Sub
Lot features
Small Lot 5999 S F, Bus on City Route
Elementary school
Longfellow
Middle school
North Jr
High school
Boise
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, N on 8th St, W on Fort St
Standard status
Pending
APN
R1841570020
Size
3,660 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
See attached Exhibit A
Tax Annual Amount
7888
Legal Description
See attached Exhibit A
Utilities
Heating system
Forced Air, Electric (Heating), Baseboard
Cooling system
Zoned, Central Air, Ductless
Building Details
Year built
1900
Number of units
4
Flooring type
Vinyl
Building materials
Frame, Wood Siding
Roof type
Composition
Listing Agency:
Homes of Idaho
(208) 442-8500
Listed By:
Karey Hunter · License #SP40920
(208) 514-8240
Added: Aug 19
Changed: Aug 20
Last Checked: Aug 23 at 2:06AM
MLS# 98997899
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 four-unit residential property contains 3,660 square feet on a 0.11-acre lot. Built in 1900, the building features frame construction with wood siding, vinyl flooring, a composition roof, and a mix of electric baseboard and forced-air heating. Cooling includes central air and ductless zoned systems. Stoves/ranges and refrigerators are provided in all units, while disposal and washer/dryer equipment are also present.
The property is located at 912 W Fort St in Boise’s North End, within blocks of Hyde Park. Downtown Boise, Camel’s Back Park, the Boise River Greenbelt, and hiking and biking trails are identified nearby. The units have been consistently rented and maintained as a residential income property.
The property is located at 912 W Fort St in Boise’s North End, within blocks of Hyde Park. Downtown Boise, Camel’s Back Park, the Boise River Greenbelt, and hiking and biking trails are identified nearby. The units have been consistently rented and maintained as a residential income property.
Key Highlights
- Four‑unit residential property with 3,660 square feet of building area
- 0.11‑acre lot at 912 W Fort St, Boise, ID 83702
- Located within blocks of Hyde Park in Boise’s North End
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Residential income property with established occupancy and unit-wide range, refrigerator, and laundry appliances.
Where is this quadplex located?
The property is located at 912 W 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 residential property with 3,660 square feet of building area; 0.11‑acre lot at 912 W Fort St, Boise, ID 83702; Located within blocks of Hyde Park in Boise’s North End
