Townhome Investment with Dual
For Sale
$449,900
Pending
925 Iowa, Boise, ID 83706
Residential Income, Boise, ID
Property Size1,552 SF
Days on Market135
Property Features for 925 Iowa
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
2
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 1, Bathroom 1, Bathroom 2, Bathroom 3, Bedroom 2
Parking
2
Appliances
Disposal (All Units), Stove/Range (All Units), Refrigerator (All Units), Washer/Dryer (All Units)
Subdivision
0 Not Applic.
Lot features
Small Lot 5999 S F, Sidewalks
Elementary school
White Pine
Middle school
Les Bois
High school
Timberline
Elementary school district
Boise School District #1
Middle school district
Boise School District #1
High school district
Boise School District #1
Directions
From Broadway: E on Iowa Property is on South side of road
Standard status
Pending
APN
R7818240040
Size
1,552 SF
Taxes and HOA fees
Tax Year
2024
Tax Description
LOT 04 BLK 01 SEWELL'S FIRST SUB
Tax Annual Amount
3252
Legal Description
LOT 04 BLK 01 SEWELL'S FIRST SUB
Utilities
Heating system
Natural Gas, Forced Air
Cooling system
Central Air
Building Details
Year built
2007
Number of units
1
Building materials
Frame, Stucco
Roof type
Composition
Listing Agency:
Homes of Idaho
(208) 442-8500
Listed By:
Andrew Yates · License #SP43983
(208) 577-8348
Added: Apr 10
Changed: Aug 19
Last Checked: Aug 22 at 5:06PM
MLS# 98981556
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 vacant, lock-and-leave townhouse offers dual master suites along with an office or flex space. The layout is designed to support short- or mid-term stays, and the home is currently empty and easy to show. Appliances are included with the property, and there is no HOA and no CCRs.
The property is positioned in central Boise and is described as being close to downtown, BSU, and Micron.
Updates noted in the remarks include a roof replacement in 2022 and new paint in 2022. The seller also stated that in the mid-term rental space, they received $2,500–$3,500 per month.
The property is positioned in central Boise and is described as being close to downtown, BSU, and Micron.
Updates noted in the remarks include a roof replacement in 2022 and new paint in 2022. The seller also stated that in the mid-term rental space, they received $2,500–$3,500 per month.
Key Highlights
- 2007‑built townhouse with dual master suites and an office/flex space
- No HOA or CCRs
- Central air and forced‑air heating with natural gas
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
$16,312
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
3.63%
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%
$326,240
$326.2K
Cap Rate 7%
$233,029
$233.0K
Cap Rate 9%
$181,244
$181.2K
Market Conditions
NOI Build-Up for 1,552 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
$30.0K $19.32/SF
− Vacancy
−$327 −$0.21/SF
EGI
$29.7K $19.11/SF
− OpEx
−$13.3K −$8.60/SF
NOI
$16.3K $10.51/SF
Area
Ada County, ID
Vacancy
1.09%
Lease Rate
$19.32 /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%
$326,240
Cap Rate 7%
$233,029
Cap Rate 9%
$181,244
Alternative Uses
Best Use
Apartment 5plus
$233.0K
$203.9K – $271.9K
NOI $16,312 @ 7.0% cap · market cap 3.63%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$428.6K
$375.0K – $500.1K
NOI $30,003 @ 7.0% cap · market cap 6.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
615
Businesses Nearby
Explore this area
Business Placement
Demographics for 83706, ID
34,446
Population
15,992
Households
2.2
Avg Household Size
31
Median Age
57%
College-Educated
95%
High-School Grad
7.4 sq mi
ZIP Area
4,655
Density / Sq Mi
$81,101
Median Household Income
$33,331
Median Earnings
$1,378
Median Rent
$488,900
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?
Single family property - Vacant lock-and-leave townhouse with dual master suites, office/flex space, and recent roof and paint updates.
Where is this single family property located?
The property is located at 925 Iowa Boise, ID.
What is the asking price?
The asking price for this property is $449,900.
What are key features of this property?
This property features: 2007‑built townhouse with dual master suites and an office/flex space; No HOA or CCRs; Central air and forced‑air heating with natural gas
