700 E Fairview #138 · Meridian, ID 83642

$37,777

2 bd · 1.5 ba · 938 sqft · Manufactured · 15 Days on market

Built 1978 Fair condition 4,356 sqft lot

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Why this score? — see what drove the B grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.2/10.0
• Livability +4.1/5.0
• Rent growth +3.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

The is located in the welcoming and very well taken care of community of Fairview Terrace in a very central part of Meridian that is close to the Village, shopping and walking distance to many restaurants and downtown Meridian. The community offers a club house for gatherings, picnic area and a play ground. The home sits in a cul-de-sac with low traffic levels in a private setting. Buyer must apply for residency and receive approval prior to acceptance of an offer by the seller. Lot rent is $700 per month.

Key facts

• Picnic area
• Close to the village
• Play ground

Tags

• CENTRAL PART OF MERIDIAN
• CLOSE TO THE VILLAGE
• CLUB HOUSE FOR GATHERINGS
• PICNIC AREA
• PLAY GROUND
• CUL-DE-SAC

Property features AI

Finance

• Other: Small lot (~5999 sq ft); Bus on city route
• HOA & community: Located in Fairview Terrace Estates (community information)

Exterior

• Parking: Finished driveway
• Utilities: City water service; Sewer connected; Cable connected; Broadband internet
• Home design: Mobile/manufactured home on a rented lot; One-story; Entry level: Main
• Construction: Built in 1978; Composition roof
• Exterior features: Partial fencing; Covered patio/deck; Garden; Manual sprinkler system; Storage shed; Paved road access; Located in a mobile home park

Interior

• Kitchen: Dishwasher; Built-in oven/range; Refrigerator; Disposal
• Bedrooms: 2 bedrooms (both on the main level)
• Flooring: Carpet; Vinyl
• Bathrooms: 2 bathrooms
• Heating & cooling: Electric forced-air heating; Wall/window air conditioning unit(s)
• Interior features: Main-level master bedroom; Family room; Kitchen island
• Laundry & utility: Electric water heater

🏷️ Possibly a rental listed for sale. The $37,777 price doesn't fit this home's estimated sale value (~$108,808) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath manufactured listed at $38k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $982 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $38k).
• Recommended offer: $37k (1.5% below list) — sets the bar for market timing.
• Cap rate 37.5% vs local median 3.1% in Meridian — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 82/100 on livability (#10 in ID, #1,176 nationally) — a professional / high-income tenant draw. Strengths: crime A+, commute A+, employment A+; Watch: cost of living D+.
• Joint School District No. 2 (suburban): math 53% / reading 67% proficiency, ranked #11 of 92 in ID (top 12%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: River Valley Elementary School (math 53% / reading 53%, grade C, #124 of 357 statewide, top 35%, 427 students, 39% FRL); Mountain View High School (math 42% / reading 72%, grade C, #21 of 169 statewide, top 13%, 2,462 students, 16% FRL) — zoned schools at 28% FRL track the district average.
• Market conditions: Rents rising (+3.8%/yr); 748 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals leasing fast (median 11d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 5,129 units permitted in Ada County in 2024 (414 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $261 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Ada County population projected at +45% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.8% rent growth), your $11k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($37k) is reasonable based on typical stale-listing flexibility.

Recommended offer $37,210 (1.5% below list)

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
5. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
6. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
7. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 4.17% ✓
• Cap rate: 37.50%
• Cash-on-cash: 111.44%
• DSCR: 5.96
• GRM: 2.0

CMA / ARV

• ARV (on-the-fly): $108,808
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
700 E Fairview Ave #31	0.11mi	2/2.0	826 (-12%)	9mo	$74,900	$91	66
700 E Fairview Ave #106	0.12mi	3/2.0 (+1)	1,040 (+11%)	8mo	$120,000	$115	63
424 W Cherry Ln #42	0.66mi	2/2.0	924 (-2%)	3mo	$153,400	$166	63
424 W Cherry Ln #132	0.66mi	3/2.0 (+1)	900 (-4%)	0mo	$114,900	$128	55
424 W Cherry Ln #14	0.64mi	2/2.0	924 (-2%)	13mo	$97,900	$106	55
314 W Cherry Ln #30	0.59mi	2/2.0	924 (-2%)	22mo	$94,900	$103	50
424 W Cherry Ln #124	0.67mi	3/2.0 (+1)	900 (-4%)	9mo	$104,900	$117	48
424 W Cherry Ln #81	0.67mi	2/2.0	990 (+6%)	21mo	$115,000	$116	40
424 W W Cherry Ln #128	0.66mi	3/2.0 (+1)	1,031 (+10%)	23mo	$124,900	$121	26

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.84% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 6.47×
• Total profit: $57,809
• Equity at exit: $5,633

10-year hold

• IRR: —
• Equity multiple: 13.91×
• Total profit: $136,598
• Equity at exit: $3,266

Cash invested: $10,578 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 91 Strongly Landlord-Friendly
• State Idaho: 91 Strongly Landlord-Friendly · R+18
• County: — inherits STATE
• City: — inherits STATE

3-day pay-or-quit; preempted; minimal tenant protections.

Methodology + full state rankings →

ZIP-level market 83642

• Rents YoY: 3.8%
• Active inventory: 748
• Price-to-rent: 2.0×

Monthly cashflow live

• Estimated rent: $1,574 high
• Mortgage (P&I): −$198
• Tax est. 1.5%: −$47 /mo · $567/yr
• Insurance: −$16
• HOA: −$0
• Vacancy / Maint / Mgmt: −$331
• Net cashflow: $982

Break-even live

Break-even rent $330

Max offer price $37,777

Occupancy floor 33%

Sensitivity live

Price	-10% $1,008	-5% $995	+0% $982	+5% $969	+10% $956
Rent	-10% $858	-5% $920	+0% $982	+5% $1,045	+10% $1,107
Rate	-1.0pp $1,001	-0.5pp $992	base $982	+0.5pp $973	+1.0pp $963

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $9,444
• Closing costs: $1,133
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1440 N Locust Grove Rd Meridian, ID	2.0–3.0	2.5–3.0	1112	$1,965	$1.77	3d	9	0.78mi
1905 E Wilson Ln Unit 286-A Meridian, ID	2.0	1.0	873	$1,395	$1.60	24d	1	0.88mi
1905 E Wilson Ln Unit 286-B Meridian, ID	2.0	1.0	873	$1,395	$1.60	3d	1	0.88mi
1927 E Wilson Ln Meridian, ID	2.0	1.0	873	$1,395	$1.60	19d	1	0.89mi
1949 E Wilson Ln Unit D Meridian, ID	2.0	1.0	873	$1,245	$1.43	3d	1	0.92mi
511 W Pine Ave Unit D Meridian, ID	2.0	1.0	700	$1,195	$1.71	3d	1	0.97mi
537 W Idaho Ave Meridian, ID	2.0	1.5	1000	$1,500	$1.50	14d	1	1.02mi
539 W Idaho Ave Meridian, ID	2.0	1.5	1100	$1,500	$1.36	15d	1	1.02mi
3104 N Venable Ln Meridian, ID	1.0–3.0	1.0–2.5	1164	$2,175	$1.87	3d	17	1.08mi
1350 N Webb Way Meridian, ID	1.0–3.0	1.0–2.0	975	$3,152	$3.23	24d	1	1.09mi
1374 W Sandalwood Dr Meridian, ID	2.0	1.0	795	$1,295	$1.63	15d	1	1.21mi
1033 W Pine Ave Apt 3 Meridian, ID	2.0	2.0	1014	$1,401	$1.38	3d	1	1.27mi
1069 W Pine Ave #3 Meridian, ID	2.0	2.0	1014	$1,496	$1.48	3d	1	1.29mi
100 S Locust Grove Rd Meridian, ID	2.0	2.0	1000	$1,550	$1.55	3d	1	1.40mi
100 S Locust Grove Rd Meridian, ID	2.0	2.0	1000	$1,475	$1.48	11d	1	1.40mi
100 S Locust Grove Rd Unit 103 Meridian, ID	2.0	2.0	1000	$1,475	$1.48	12d	1	1.48mi

Listing history 10 events

1. 2026-06-18
   days on market $37,777 Active 15 DOM
2. 2026-06-17
   days on market $37,777 Active 14 DOM
3. 2026-06-16
   days on market $37,777 Active 13 DOM
4. 2026-06-15
   days on market $37,777 Active 12 DOM
5. 2026-06-13
   days on market $37,777 Active 10 DOM
6. 2026-06-10
   days on market $37,777 Active 7 DOM
7. 2026-06-09
   days on market $37,777 Active 6 DOM
8. 2026-06-08
   days on market $37,777 Active 5 DOM
9. 2026-06-07
   remarks 512-char remark
10. 2026-06-07
    listed $37,777 Active 4 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 2/10 Low FEMA zone X (unshaded) · 3% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥96°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 7/10 Severe 12 unhealthy d/yr today · 16 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,887
• − Mortgage interest: −$2,116
• − Property taxes: −$567
• − Insurance: −$189
• − Repairs & maintenance: −$1,511
• − Management: −$1,511
• − Depreciation: −$1,099
• Taxable income: $11,895
• Est. tax owed @ 24.0%: −$2,855
• After-tax cash flow: $8,933/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Condition & rehab AI · 3 photos

Fair 45/100 Cosmetic rehab

The home is a manufactured home in fair condition with some cosmetic updates needed. It is located in a well-maintained community with low traffic levels and is close to shopping and dining. The home could benefit from painting, roof repair, and landscaping updates to increase its value.

Repairs flagged

• Minor roof — The roof appears to have some discoloration and minor damage.
• Minor exterior siding — The siding shows some wear and tear, indicating minor damage or aging.
• Minor landscaping — The landscaping is simple and could benefit from some updates to enhance curb appeal.

Value-add opportunities

• Both paint exterior — Painting the exterior can improve the home's curb appeal and increase its value.
• Both repair roof — Repairing the roof can prevent further damage and improve the home's overall condition.
• Both update landscaping — Updating the landscaping can enhance the home's curb appeal and increase its value for both resale and rental purposes.

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · The roof appears to have some discoloration and minor damage.	Minor	$500–3,000
exterior siding · The siding shows some wear and tear, indicating minor damage or aging.	Minor	$500–3,000
landscaping · The landscaping is simple and could benefit from some updates to enhance curb appeal.	Minor	$500–3,000
Total estimated repair cost · 3 items		$1,500–9,000

Value-add ROI direction

• Both paint exterior — Painting the exterior can improve the home's curb appeal and increase its value. ↑
• Both repair roof — Repairing the roof can prevent further damage and improve the home's overall condition. ↑
• Both update landscaping — Updating the landscaping can enhance the home's curb appeal and increase its value for both resale and rental purposes. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Joint School District No. 2
• NCES district ID: 1602100
• Math proficiency: 53% ▼ -6.00%
• Reading proficiency: 67% ▼ -1.00%
• Median HH income: $64,573
• Composite: 52.42/100
• National rank: #1576
• State rank: #11 of 92 in ID

Livability — Meridian

• Score: 82/100
• State rank: #10
• US rank: #1176

Category grades

Amenities B Commute A+ Cost of living D+ Crime A+ Employment A+ Housing A+ Health & safety A User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Meridian, ID
• County: Ada County · 522,161 people
• City population: 138,302
• Metro: Boise City, ID
• Population (ZIP): 62,279
• Household income: $96,909
• Rent vs Own: 30.3% rent · 69.7% own
• Severe rent burden: 1574.0

Population outlook (Ada County) Hauer SSP2

• Today (2025): 535,818 people
• By 2030: 585,751 · +9.3%
• By 2040: 682,435 · +27.4%
• By 2050: 775,818 · +44.8%
• By 2075: 994,458 · +85.6%
• By 2100: 1,148,884 · +114.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Hispanic / Latino 9% Two or more races 7% Asian 3%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Portuguese 3% Slovak 3% Lithuanian 3%
• Foreign-born: 5% · Canada, South Korea, Jamaica
• Languages at home: 93% English-only · Spanish 4% Russian/Polish/Slavic 1% Other Indo-European 1%

Political lean MEDSL · Ada

• 2024 margin: R (+10.3) · D 43.4% · R 53.8% · Other 2.8%
• 2008→2024 swing: -4.2pp toward R · 2008: -6.2pp · 2024: -10.3pp
• All cycles: 2024: R+10.3 2020: R+3.9 2016: R+9.2 2012: R+11.3 2008: R+6.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -178.45%
• Current HPI: 321.2588
• Rent YoY: ▲ 3.84%
• Metro: Boise City, ID
• State GDP YoY: ▲ 4.51%
• F500 in state: 6

Industry mix (Fortune 500 HQ in ID)

Industry	F500 HQs	Revenue
▸Retail	1	$79B
▸Technology	1	$25B
▸Food / Agriculture	1	$6B

Price history

1 event — show timeline

• 2026-06-03 Listed $37,777 IMLS