Downtown Triplex with
For Sale
$624,900
918 4th St, Meridian, ID 83646
Well-maintained triplex in downtown Meridian featuring fully fenced backyard areas for each unit.
Property Size3,072 SF
Price / SF$203.42
Days on Market27
Property Features for 918 4th St
General Information
Standard status
Active
Size
3,072 SF
Property subtype
Triplex
Additional Details
Fenced Yard
Yes
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$3,152
Amenities
fenced backyard
6
3.00
Building Details
Year Built
1970
Tenancy
Multi
Listing Agency:
Real Broker LLC
(406) 670-7482
Listed By:
Charlie Wetherington · License #SP51289
Source:
Clearwaterproperties
Added: Jul 17
Changed: Aug 11
Last Checked: Aug 11 at 8:01AM
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 Real Broker LLC
Investment Insights
Based on property information with market context.
This well-situated triplex is located in the downtown Meridian area and is described as nicely maintained. The property consists of three units, each with 1,024 square feet of living space, and each unit includes a fully fenced backyard area.
The listing also notes recent repairs, with details available in the Doc’s tab. The property is presented as having a history of staying fully rented and producing a good ROI.
With three separate residential units and private outdoor space at each, the layout is designed to provide practical day-to-day usability for tenants within a single multifamily investment property.
The listing also notes recent repairs, with details available in the Doc’s tab. The property is presented as having a history of staying fully rented and producing a good ROI.
With three separate residential units and private outdoor space at each, the layout is designed to provide practical day-to-day usability for tenants within a single multifamily investment property.
Key Highlights
- Downtown Meridian triplex with 6 total bedrooms and 3.00 total bathrooms
- Three units, each with 1,024 sq ft of living space
- Fully fenced backyard area included for each unit
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
$33,373
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
5.34%
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%
$667,460
$667.5K
Cap Rate 7%
$476,757
$476.8K
Cap Rate 9%
$370,811
$370.8K
Market Conditions
NOI Build-Up for 3,072 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
$49.8K $16.20/SF
− Vacancy
−$2.1K −$0.68/SF
EGI
$47.7K $15.52/SF
− OpEx
−$14.3K −$4.66/SF
NOI
$33.4K $10.86/SF
Area
Meridian, ID
Vacancy
4.20%
Lease Rate
$16.20 /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%
$667,460
Cap Rate 7%
$476,757
Cap Rate 9%
$370,811
Alternative Uses
Best Use
Multifamily LT 5
$476.8K
$417.2K – $556.2K
NOI $33,373 @ 7.0% cap · market cap 5.34%
Second Best
Apartment 5plus
$440.2K
$385.2K – $513.6K
NOI $30,817 @ 7.0% cap · market cap 4.93%
Theoretical Best
Office A
$810.7K
$709.4K – $945.8K
NOI $56,748 @ 7.0% cap · market cap 9.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
1,360
Businesses Nearby
Explore this area
Business Placement
Demographics for 83646, ID
69,818
Population
26,829
Households
2.6
Avg Household Size
36
Median Age
44%
College-Educated
96%
High-School Grad
27.3 sq mi
ZIP Area
2,557
Density / Sq Mi
$101,040
Median Household Income
$47,397
Median Earnings
$1,814
Median Rent
$488,000
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?
Triplex - Well-maintained triplex in downtown Meridian featuring fully fenced backyard areas for each unit.
Where is this triplex located?
The property is located at 918 4th St Meridian, ID.
What is the asking price?
The asking price for this property is $624,900.
What are key features of this property?
This property features: Downtown Meridian triplex with 6 total bedrooms and 3.00 total bathrooms; Three units, each with 1,024 sq ft of living space; Fully fenced backyard area included for each unit
