Is 5240 E Open Canyon Dr in Nampa, ID a good investment?

CashFlowRE grades it C- with a 6.0% cap rate and $-141/mo modeled cash flow at a $519,990 list price. See the full underwriting and recommended offer on the page.

What is the cap rate for 5240 E Open Canyon Dr?

The modeled cap rate is 6.0% — annual NOI divided by price, using CashFlowRE's rent and expense estimates.

What would this property rent for?

Estimated market rent is $4,439/month, from CashFlowRE's rent model.

C- Composite 50.03

Why this score? — see what drove the C- 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).

ARV discount +15.0/15.0
Cash flow +11.8/30.0
Condition / age +5.0/5.0
Schools +4.2/10.0
Livability +3.6/5.0
1% rule +3.5/10.0
DSCR +3.5/10.0
Rent growth +3.4/5.0
Appreciation +0.0/10.0

$519,990

5240 E Open Canyon Dr · Nampa, ID 83687

5 bd · 3.0 ba · 2,530 sqft · SingleFamily · 181 Days on market

Built 2026 Excellent condition 8,712 sqft lot 3-car garage $206/sqft · 34% below area Est $791k · 34% under $54/mo HOA · 1% of rent

🖨 Deal sheet (PDF) 📄 Offer letter ✓ Due diligence

Listing remarks MLS

Unlock your $25K now through June 30th! Ask a Sales Specialist for details. Feel enriched in your brand new home located in Nampa, Idaho! The Columbia 2530 offers generous space and refined comfort with multiple living areas that give you endless flexibility in how you live, work, and unwind. The main level features a welcoming living room, an additional gathering room, and a well-placed bedroom, while the kitchen boasts upgraded finishes, including stainless steel appliances, a gas range, and stylish solid surface countertops. Upstairs, four additional bedrooms surround a spacious loft, creating room to personalize and retreat. The expansive primary suite provides a serene escape with an elegant en suite bath featuring dual vanities and a generous closet. Thoughtfully arranged bedroom placements upstairs enhance comfort and privacy throughout. Designed for versatility and modern living, the Columbia 2530 sets the stage for a beautifully balanced lifestyle. Potential RV parking available. Photos are of the actual home!

Key facts

Upgraded finishes
Spacious loft
Gas range

What this means for you Summary

Snapshot

This is a 5-bed/3.0-bath single-family listed at $520k. Condition is rated excellent.

Deal economics

At list price, monthly cash flow is $-141 ($-2k/yr) — negative.
To cash-flow at today's rent, offer at most $500k (3.9% below list).
To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $444k (14.6% below list).
Recommended offer: $444k (14.6% below list) — sets the bar for 1% rule.
Cap rate 6.0% vs local median 3.1% in Nampa — 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 72/100 on livability (#47 in ID) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living A-; Watch: employment C-, amenities F, commute F.
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: Summerwind Stem Academy (math 52% / reading 62%, grade C+, #88 of 357 statewide, top 28%, 372 students, 40% FRL); Heritage Middle School (math 63% / reading 79%, grade A, #1 of 109 statewide, top 0%, 1,062 students, 11% FRL); Rocky Mountain High School (math 47% / reading 76%, grade B-, #18 of 169 statewide, top 10%, 1,917 students, 8% FRL) — zoned schools at 20% FRL track the district average.
Market conditions: Rents rising (+3.4%/yr); 1155 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 11d on market — plan ~1-2 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 5,129 units permitted in Ada County in 2024 (414 in 5+ unit buildings).
At $4,439/mo this rent would consume 69% of the median local household income ($77k/yr) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

Local home prices are declining (-3.0%/yr); year-one equity from $4k of loan paydown is wiped out by about $16k 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.

Negotiation context

It's been on market 181 days — a 12% lower offer ($458k) is reasonable based on typical stale-listing flexibility.
2 sale attempts; this cycle's ask has dropped $30k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $443,859 (14.6% below list)

Questions for the listing agent

What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
It's been on market 181 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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.
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.
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: 0.85% ✗
Cap rate: 5.97%
Cash-on-cash: -1.16%
DSCR: 0.95
GRM: 9.8

CMA / ARV

ARV (median comp): $791,052
List price: $519,990
Delta: -34.27%
Verdict: UNDERPRICED
Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1854 W Hampton Bay Dr	0.48mi	4/2.5 (-1)	2,447 (-3%)	3mo	$1,249,000	$510	63
2387 S Chipper Way	0.68mi	4/2.5 (-1)	2,558 (+1%)	2mo	$945,000	$369	58
6117 N Torva Ave	0.77mi	4/2.5 (-1)	2,684 (+6%)	0mo	$629,990	$235	48
1882 E Three Corners Dr	1.03mi	4/3.0 (-1)	2,695 (+6%)	3mo	$849,000	$315	47
733 E Tallin St	0.83mi	4/2.5 (-1)	2,704 (+7%)	1mo	$720,000	$266	45
5830 N Garbo Ave Lot 1 Block 3	1.07mi	4/3.0 (-1)	2,258 (-11%)	1mo	$670,980	$297	41
38 W Heston Dr	0.86mi	4/2.5 (-1)	2,754 (+9%)	3mo	$749,000	$272	41
3494 S Sugar Loaf Pl	0.55mi	4/2.5 (-1)	3,008 (+19%)	2mo	$1,199,999	$399	41
390 W Gleason Ct Lot 5 Block 1	1.07mi	5/3.0	2,968 (+17%)	2mo	$751,442	$253	38
373 W Gleason Ct Lot 9 Block 1	1.09mi	5/3.0	2,968 (+17%)	4mo	$753,707	$254	37
2986 S Fox Run Ave	0.82mi	4/3.0 (-1)	2,873 (+14%)	3mo	$899,900	$313	35
3765 W Dublin Dr	0.72mi	4/2.5 (-1)	2,960 (+17%)	1mo	$919,900	$311	34

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 · 3.44% rent growth · sell at horizon

5-year hold

IRR: -17.7%
Equity multiple: 0.37×
Total profit: $-91,170
Equity at exit: $77,532

10-year hold

IRR: -8.9%
Equity multiple: 0.43×
Total profit: $-82,379
Equity at exit: $44,959

Cash invested: $145,597 (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 →

Balanced market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

For sale now: 10 active · 18 under contract
Months of supply: 3.5 mo (28%/mo absorbed)
Median asking: $738,495 ($299/sqft)
Median days on market: 101 d
This list price: lowest-priced of the active set
ARV vs active asking: +4.6% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 83687

Home prices YoY: -21.0%
Rents YoY: 3.4%
Active inventory: 1155
Price-to-rent: 9.8×

Monthly cashflow live

Estimated rent: $4,439 high interval (Pro) →
Mortgage (P&I): −$2,727
Tax est. 1.5%: −$650 /mo · $7,800/yr
Insurance: −$217
HOA: −$54
Lot rent: −$0
Vacancy / Maint / Mgmt: −$932
Net cashflow: $-141

Break-even live

Break-even rent $4,617

Max offer price $499,580

Occupancy floor 98%

Sensitivity live

Price	-10% $218	-5% $39	+0% $-141	+5% $-321	+10% $-500
Rent	-10% $-492	-5% $-316	+0% $-141	+5% $34	+10% $210
Rate	-1.0pp $121	-0.5pp $-9	base $-141	+0.5pp $-276	+1.0pp $-413

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: $129,998
Closing costs: $15,600
Club membership (one-time): —
Reserves months: —
Total cash needed: —

Loan-product check · same deal, 3 products live

Conventional

25% down · 7.5% · 30yr

Cash invested: —
Monthly P&I: —
Monthly cashflow: —
DSCR: —
Eligible?: —

Personal DTI + credit; lowest rate.

DSCR

20% down · 8.5% · 30yr

Cash invested: —
Monthly P&I: —
Monthly cashflow: —
DSCR: —
Eligible?: —

No personal income docs; deal must DSCR.

Hard money

10% down · 12.0% · 12mo

Cash invested: —
Monthly P&I: —
Monthly cashflow: —
DSCR: —
Eligible?: —

Short-term bridge; refi at stabilization.

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
966 W Watersford Dr Eagle, ID	4.0	3.5	3138	$5,995	$1.91	133d	1	1.08mi
966 W Watersford Dr Eagle, ID	4.0	3.5	3138	$5,995	$1.91	143d	1	1.08mi
5327 N Red Hills Pl Unit 1460932P Meridian, ID	5.0	2.0	3379	$7,629	$2.26	2d	1	1.26mi
152 E Ensenada Dr Meridian, ID	4.0	2.5	2153	$3,050	$1.42	10d	1	1.35mi
103 E Ensenada Dr Meridian, ID	4.0	2.5	2123	$2,750	$1.30	10d	1	1.38mi

Property features AI

Finance

HOA & community: Homeowners association with annual fee of $650

Exterior

Parking: Attached 3-car garage3 covered parking spaces (total 3)
Utilities: City water serviceSewer connected
Home design: Single-family homeNew constructionBuilt in 2026Located in the Spring Hollow Ranch subdivision
Construction: Frame construction with HardiPlank sidingComposition roofBuilder: CBH Homes
Exterior features: Partial fencingSidewalksAutomatic sprinkler system with partial and pressurized irrigation

Interior

Kitchen: Kitchen with islandBreakfast barPantryDishwasherDisposalFreestanding oven/rangeGas range
Bedrooms: 5 bedrooms total — primary and four bedrooms on the upper level; one bedroom on the main level
Flooring: CarpetEngineered vinyl plank
Bathrooms: 3 bathrooms total
Heating & cooling: Forced air heating (natural gas)Central air conditioning
Interior features: Primary suite with private bathDen/officeDouble vanity sinksWalk-in closetsLoftBreakfast barPantryKitchen islandSolid surface countertops
Laundry & utility: Utility room on the upper levelGas water heater

HOA detail $54/mo · $648/yr

Likely covers: gas

Listing history 50 events

2026-10-08

days on market $519,990 Active 181 DOM
2026-10-07

days on market $519,990 Active 180 DOM
2026-10-06

days on market $519,990 Active 179 DOM
2026-10-05

days on market $519,990 Active 178 DOM
2026-10-04

days on market $519,990 Active 177 DOM
2026-10-03

days on market $519,990 Active 176 DOM
2026-10-02

days on market $519,990 Active 175 DOM
2026-10-01

days on market $519,990 Active 174 DOM
2026-09-30

days on market $519,990 Active 173 DOM
2026-09-29

days on market $519,990 Active 172 DOM
2026-09-28

days on market $519,990 Active 171 DOM
2026-09-27

days on market $519,990 Active 170 DOM
2026-09-25

days on market $519,990 Active 168 DOM
2026-09-24

days on market $519,990 Active 167 DOM
2026-09-23

days on market $519,990 Active 166 DOM
2026-09-22

days on market $519,990 Active 165 DOM
2026-09-21

days on market $519,990 Active 164 DOM
2026-09-20

days on market $519,990 Active 163 DOM
2026-09-19

days on market $519,990 Active 162 DOM
2026-09-18

days on market $519,990 Active 161 DOM
2026-09-17

days on market $519,990 Active 160 DOM
2026-09-16

days on market $519,990 Active 159 DOM
2026-09-15

days on market $519,990 Active 158 DOM
2026-09-14

days on market $519,990 Active 157 DOM
2026-09-13

days on market $519,990 Active 156 DOM
2026-09-12

days on market $519,990 Active 155 DOM
2026-09-11

days on market $519,990 Active 154 DOM
2026-09-05

days on market $519,990 Active 148 DOM
2026-09-04

price $519,990 Active 147 DOM
2026-09-04

days on market $529,990 Active 147 DOM
2026-09-03

days on market $529,990 Active 146 DOM
2026-08-31

days on market $529,990 Active 143 DOM
2026-08-30

days on market $529,990 Active 142 DOM
2026-08-29

days on market $529,990 Active 141 DOM
2026-08-28

days on market $529,990 Active 140 DOM
2026-08-27

days on market $529,990 Active 139 DOM
2026-08-26

days on market $529,990 Active 138 DOM
2026-08-25

pricedays on market $529,990 Active 137 DOM
2026-08-24

days on market $534,990 Active 136 DOM
2026-08-23

days on market $534,990 Active 135 DOM
2026-08-22

days on market $534,990 Active 134 DOM
2026-08-21

days on market $534,990 Active 133 DOM
2026-08-20

days on market $534,990 Active 132 DOM
2026-08-19

days on market $534,990 Active 131 DOM
2026-08-18

days on market $534,990 Active 130 DOM
2026-08-17

days on market $534,990 Active 129 DOM
2026-08-16

days on market $534,990 Active 128 DOM
2026-08-15

days on market $534,990 Active 127 DOM
2026-08-15

days on market $534,990 Active 126 DOM
2026-08-13

days on market $534,990 Active 125 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
🔥 Wildfire 4/10 Moderate
🌡 Heat 4/10 Moderate 7 d/yr ≥97°F today · 17 d/yr by 30 yrs out
💨 Wind 1/10 Low
🫁 Air quality 8/10 Severe 12 unhealthy d/yr today · 18 by 30 yrs out

Nearby sold comps map

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Walkable amenities ~0.75 mi

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Taxation est. · year 1

Rental income: $53,263
− Mortgage interest: −$29,128
− Property taxes: −$7,800
− Insurance: −$2,600
− Repairs & maintenance: −$4,261
− Management: −$4,261
− HOA: −$648
− Depreciation: −$15,127
Taxable loss: −$10,561

Your marginal tax rate % combined federal + state — saved on this device

Est. tax savings @ 24.0%: +$2,535
After-tax cash flow: $842/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 · 12 photos

Excellent 100/100 None rehab

This home is in excellent condition with a modern kitchen, well-maintained exterior, and no visible repairs needed. It is move-in ready and would benefit from some minor updates to increase its value.

Value-add opportunities

Both Painting the exterior and interior walls — Fresh paint can enhance curb appeal and interior aesthetics. ↑
Both Landscaping improvements — A well-maintained lawn and landscaping can increase both resale and rental value. ↑
Both Adding smart home features — Smart home features can increase both resale and rental value by making the home more modern and convenient for potential buyers and renters. ↑
Resale Upgrading the kitchen appliances — Upgrading to more modern or energy-efficient appliances can increase the home's appeal to potential buyers. ↑
Rental Adding a smart thermostat — A smart thermostat can help reduce energy costs and attract renters who value energy efficiency and convenience. ↑

F Composite school gradezoned avg 42/100

Zoned Schools

Elementary East Canyon Elementary School F ID #247/357 Nat'l #20,819/41,679 Middle Sage Valley Middle School F ID #68/109 Nat'l #5,727/14,009 High Ridgevue High School D- ID #55/169 Nat'l #6,330/17,239

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

B Composite livability gradescore 72/100

Livability — Nampa

Score: 72/100
State rank: #47
US rank: #6250

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

County: Canyon County · 535,818 people
City population: 142,249
Metro: Boise City, ID
Population (ZIP): 43,135
Household income: $76,682
Rent vs Own: 27.7% rent · 72.3% own
Severe rent burden: 10% of renters

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 (71%)
Race & ethnicity: White 71% Hispanic / Latino 21% Two or more races 11% Black 2% Native American 1%
Hispanic origin (detail): Mexican 18%
Languages at home: 85% English-only · Spanish 12% Russian/Polish/Slavic 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: ▼ -103.50%
Current HPI: 388.8148
Rent YoY: ▲ 3.44%
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
#55 Albertsons Boise $79.2B
Technology	1	$25B
#145 Micron Technology Boise $25.1B
Food / Agriculture	1	$6B
#384 Lamb Weston Holdings Eagle $6.5B

Price history

+0.0% since first listed

2 events — show timeline

2026-04-11 Listed $549,990 Zillow
2026-04-10 Listed $549,990 IMLS

Cash-flow waterfall

monthly

Sold comps — $/sqft

last 12 mo · ≤1 mi

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