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33831566
33831581

10149 West Southerland Drive, Boise, ID 83709

D3V Black
Homes of Idaho
Listed by D3V Black, Homes of Idaho
$2,485,000
2 days on market
Updated 2 days ago

Ebb and Flow Townhomes - Building 2 (Units 5-9)

Details
Property Type Multifamily
Sub Type Single Family Rental Portfolio
Square Footage 9,550
Units 5
Cap Rate 4.10%
NOI $103,960
Tenancy Vacant
Pro-Forma Cap Rate 4.10%
Pro-Forma NOI $103,960
Class A
Year Built 2026
Buildings 1
Acreage 0.07 - 0.12
Zoning MX-1
Parking Spaces 4 per unit

New Construction Build-to-Rent Townhomes | 5 Units | SW Boise | $2.485M

Marketing description

EBB & FLOW TOWNHOMES – BUILDING 2

Acquire five newly constructed luxury townhomes priced approximately 10% below recent independent appraised value—offering immediate equity potential in one of Boise's strongest long-term growth markets. Each home was independently appraised at $550,000 (appraisal available upon request).

Ebb & Flow presents a rare opportunity to acquire five newly constructed townhomes in Southwest Boise designed to meet the growing demand for high-quality rental housing.

Following successful project absorption and the closing of Unit 1, Building 2 (Units 5–9) is now available as a separate investment opportunity. This offering allows investors to acquire a boutique build-to-rent asset featuring spacious floor plans, attached two-car garages, private fenced yards, and low-maintenance ownership.

Unlike traditional multifamily investments, Ebb & Flow offers tenants a single-family-home lifestyle within a professionally designed townhome community. The property's combination of modern construction, functional layouts, and strong Boise market fundamentals creates an attractive long-term investment opportunity.

The project is conservatively underwritten at $2,400 per month rents and offers investors the ability to acquire newly constructed housing at a basis near replacement cost while avoiding the risks associated with land acquisition, entitlement, construction, and lease-up.

Investment highlights

Project Highlights

  • Unit 1 Successfully Closed
  • Unit 4 Under Contract
  • Building 2 Now Available (Units 5–9)
  • Five Newly Constructed Townhomes
  • 1,910 SF Floor Plans
  • 3 Bedrooms | 2.5 Bathrooms
  • Attached Two-Car Garages
  • Private Fenced Yards
  • Low HOA Dues ($75/Month)
  • Build-to-Rent Product Type
  • Located in Southwest Boise

Financial Highlights

  • Offering Price: $2,485,000
  • Appraised at $2,750,000 (6/26)
  • Price Per Unit: $497,000
  • Projected Rent: $2,400/Month Per Unit
  • Annual Gross Income: $144,000
  • Projected NOI: Approximately $100,000
  • Projected Cap Rate: Approximately 4.0%
  • New Construction / Low Maintenance Asset

Listing Contacts

D3V Black
Homes of Idaho
Listed by D3V Black, Homes of Idaho

Valuation Calculator

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$103,960.00
$8,663.33/mo

Valuation Metrics

0
DSCR
4.18%
Cap Rate
4.18%
ROI

Map

Zoning

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MX-1 MixedMixed UseMixed Used Neighborhood
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Last updated Apr 17, 2026 For deeper zoning details, reports are available at Zoneomics

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Property History

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Additional Information

Name
Homes of Idaho, Inc
License
CO 26152
Brokerage
Homes of Idaho, Inc
Brokerage Phone
2084421530
Title
Broker of Record
Brokerage Address
35978 E Monarch Way Suite 320 Meridian, ID 83646
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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