Three-Unit Property with Fenced
For Sale
$624,900
918 NW 4th St, Meridian, ID 83646
Maintained triplex with a private, fully fenced backyard area for each residence.
Property Size3,072 SF
Price / SF$203.42
Days on Market40
Property Features for 918 NW 4th St
General Information
Standard status
Active
Size
3,072 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
3
Amenities
fully fenced backyard area
Building Details
Year Built
1970
Listing Agency:
Real Broker LLC
(406) 670-7482
Listed By:
Charlie Wetherington · License #SP51289
Source:
Myrecollab
Added: Jul 21
Changed: Aug 28
Last Checked: Aug 25 at 5:14AM
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 three-unit residential income property was built in 1970 and provides 3,072 square feet of total living area. Each residence contains 1,024 square feet and includes access to a fully fenced backyard area. The property has been maintained and includes recent repairs documented in the property records.
The triplex is located in the downtown Meridian area, providing a central setting for a multifamily property. Its three-residence configuration offers a straightforward income-property layout with consistent unit sizing across the building.
The triplex is located in the downtown Meridian area, providing a central setting for a multifamily property. Its three-residence configuration offers a straightforward income-property layout with consistent unit sizing across the building.
Key Highlights
- Three‑unit triplex in the downtown Meridian area
- 3,072 SF total property size
- Each unit measures 1,024 Sq. Feet
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
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 - Maintained triplex with a private, fully fenced backyard area for each residence.
Where is this triplex located?
The property is located at 918 NW 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: Three‑unit triplex in the downtown Meridian area; 3,072 SF total property size; Each unit measures 1,024 Sq. Feet
