408 E 51st St #10 · Garden City, ID 83714

$59,900

2 bd · 1.0 ba · 576 sqft · Manufactured · 5 Days on market

Built 1976 $560/mo HOA · 36% of rent

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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 +4.2/10.0
• Livability +4.1/5.0
• Rent growth +3.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

A great home in an affordable price range! Move in ready mobile with 2 bedrooms and 1 full bath. Six miles from the Boise River Greenbelt. Lot rent includes water, sewer, and trash. Come see this home today!

Key facts

• Mountain view park
• Capital high school
• Brand new roof

Tags

• BRAND NEW ROOF
• FRESH UPDATES
• MOUNTAIN VIEW PARK
• CAPITAL HIGH SCHOOL

Property features AI

Finance

• Other: Directions: L into subdivision unit 10
• Financial info: Annual taxes approximately $95.72
• HOA & community: Monthly association fee of $560

Exterior

• Home design: Manufactured/Mobile home (rented lot); Built in 1976
• Exterior features: Located in a mobile home park

Interior

• Bedrooms: Two bedrooms on the main level
• Bathrooms: One bathroom
• Heating & cooling: No heating; No cooling
• Interior features: Main-level living

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $60k.

Deal economics

• At list price, monthly cash flow is $244 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $60k).
• Cap rate 11.2% vs local median 2.5% in Garden City — 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 (#11 in ID, #1,264 nationally) — a professional / high-income tenant draw. Strengths: commute A+, health & safety A+, housing A; Watch: crime F.
• Boise Independent District (urban): math 42% / reading 56% proficiency, ranked #36 of 92 in ID (top 39%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Pierce Park Elementary School (math 42% / reading 57%, grade D, #148 of 357 statewide, top 47%, 219 students, 27% FRL); Capital Senior High School (math 34% / reading 57%, grade D-, #59 of 169 statewide, top 35%, 1,220 students, 28% FRL).
• Market conditions: Rents rising fast (+4.9%/yr); 445 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 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 $414 of loan paydown is wiped out by about $2k 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 + 4.9% rent growth), your $17k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 2y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: HOA is 36% of rent.

Recommended offer $59,900

Questions for the listing agent

1. Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 2.57% ✓
• Cap rate: 11.18%
• Cash-on-cash: 17.44%
• DSCR: 1.78
• GRM: 3.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.87% rent growth · sell at horizon

5-year hold

• IRR: 13.1%
• Equity multiple: 1.54×
• Total profit: $9,139
• Equity at exit: $8,931

10-year hold

• IRR: 24.6%
• Equity multiple: 3.51×
• Total profit: $42,035
• Equity at exit: $5,179

Cash invested: $16,772 (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 83714

• Home prices YoY: -31.5%
• Rents YoY: 4.9%
• Active inventory: 445
• Price-to-rent: 3.2×

Monthly cashflow live

• Estimated rent: $1,541 high
• Mortgage (P&I): −$314
• Tax est. 1.5%: −$75 /mo · $898/yr
• Insurance: −$25
• HOA: −$560
• Vacancy / Maint / Mgmt: −$324
• Net cashflow: $244

Break-even live

Break-even rent $1,233

Max offer price $59,900

Occupancy floor 79%

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: $14,975
• Closing costs: $1,797
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3304 N Lakeharbor Ln Boise, ID	1.0–3.0	1.0–2.0	1000	$1,935	$1.94	2d	16	0.69mi
4632 N Iota Ln Unit 300 Garden City, ID	1.0	1.0	563	$1,375	$2.44	23d	1	0.75mi
4632 N Iota Ln Unit 200 Garden City, ID	1.0	1.0	563	$1,375	$2.44	18d	1	0.75mi
4633 N Iota Ln Unit 201 Garden City, ID	1.0	1.0	563	$1,375	$2.44	23d	1	0.75mi
6103 W State St Unit 6103-10 Garden City, ID	1.0	1.0	580	$1,150	$1.98	23d	1	0.77mi
3115 Sycamore Dr Boise, ID	1.0	1.0	454	$1,520	$3.35	23d	1	0.93mi
4220 N Adams St Garden City, ID	2.0	1.0–2.0	767	$2,333	$3.04	2d	7	1.24mi
385 E 42nd St Garden City, ID	1.0–2.0	1.0–2.0	832	$1,495	$1.80	3d	1	1.28mi
6200 N River Pointe Ln Garden City, ID	1.0–3.0	1.0–2.0	1000	$2,416	$2.42	2d	8	1.38mi
521 E 41st St Garden City, ID	2.0	1.0–2.0	814	$5,000	$6.14	23d	18	1.41mi
7460 W Holbrook Ln Boise, ID	1.0	1.0	674	$1,095	$1.62	23d	1	1.41mi
2722 N Retirement Ln Boise, ID	1.0	1.0	590	$1,095	$1.86	23d	1	1.42mi
7479 W Holbrook Ln Boise, ID	1.0	1.0	650	$1,095	$1.68	23d	1	1.44mi

HOA detail

• Monthly dues: $560 · $6,720/yr
• Likely covers: watersewertrash

Listing history 5 events

1. 2026-06-18
   days on market $59,900 Active 5 DOM
2. 2026-06-17
   days on market $59,900 Active 4 DOM
3. 2026-06-16
   days on market $59,900 Active 3 DOM
4. 2026-06-15
   remarks 699-char remark
5. 2026-06-15
   listed $59,900 Active 2 DOM

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

Taxation est. · year 1

• Rental income: $18,497
• − Mortgage interest: −$3,355
• − Property taxes: −$898
• − Insurance: −$300
• − Repairs & maintenance: −$1,480
• − Management: −$1,480
• − HOA: −$6,720
• − Depreciation: −$1,743
• Taxable income: $2,521
• Est. tax owed @ 24.0%: −$605
• After-tax cash flow: $2,320/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.

Schools (NCES district)

• District: Boise Independent District
• NCES district ID: 1600360
• Math proficiency: 42% ▼ -5.00%
• Reading proficiency: 56% ▼ -1.00%
• Median HH income: $49,135
• Composite: 41.82/100
• National rank: #3388
• State rank: #36 of 92 in ID

Livability — Garden City

• Score: 82/100
• State rank: #11
• US rank: #1264

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Garden City, ID
• County: Ada County · 522,161 people
• Metro: Boise City, ID
• Population (ZIP): 27,564
• Household income: $87,651
• Rent vs Own: 27.4% rent · 72.6% own
• Severe rent burden: 557.0

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 (86%)
• Race & ethnicity: White 86% Hispanic / Latino 9% Two or more races 7%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Italian 4% Slovak 4% Portuguese 4%
• Foreign-born: 5% · Canada
• Languages at home: 92% English-only · Spanish 5% Russian/Polish/Slavic 2% 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: ▼ -155.87%
• Current HPI: 339.0701
• Rent YoY: ▲ 4.87%
• 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

+20.0% since first listed

4 events — show timeline

• 2026-06-13 Listed $59,900 IMLS
• 2024-06-14 Sold (MLS) — IMLS
• 2024-05-26 Pending — IMLS
• 2024-03-18 Listed $49,900 IMLS