424 W Cherry Ln #53 · Meridian, ID 83642

$159,000

4 bd · 2.0 ba · 1,792 sqft · Manufactured · 26 Days on market

Built 1979 Good condition Est $167k · at est.

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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 +9.6/15.0
• Schools +5.2/10.0
• Condition / age +4.2/5.0
• Livability +4.1/5.0
• Rent growth +3.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome home to this beautifully renovated 4-bedroom, 2-bathroom manufactured home located in the desirable Embassy Mobile Home Park in the heart of Meridian. With over 1800sqft of living space, this home offers an open and spacious layout filled with natural light, this move-in ready home blends comfort, style, and convenience at an affordable price. The modern kitchen features updated appliances, ample counter space, a functional island, walk-in pantry, and plenty of storage, making it ideal for both everyday living and entertaining. The spacious living area creates a warm and inviting atmosphere, while the primary suite offers an en-suite bathroom, walk-in closet, and additional storage

Key facts

• Walk-in closet
• Primary suite
• En-suite bathroom

Tags

• RENOVATED MANUFACTURED HOME
• MODERN KITCHEN
• WALK-IN PANTRY
• PRIMARY SUITE
• EN-SUITE BATHROOM
• WALK-IN CLOSET

Property features AI

Exterior

• Utilities: City water service; Sewer connected
• Home design: Manufactured/mobile home on a rented lot
• Construction: Vinyl siding; Composition roof; Built in 1979
• Exterior features: Covered patio/deck; Located in a mobile home park; Bus on city route

Interior

• Kitchen: Kitchen island; Breakfast bar; Pantry; Dishwasher; Disposal; Microwave; Freestanding oven/range; Laminate and wood butcher-block counters
• Bedrooms: 4 bedrooms — all on the main level
• Bathrooms: 2 bathrooms
• Heating & cooling: Electric forced-air heating; Central air conditioning
• Interior features: Primary bedroom with en-suite bath; Double vanity in bathroom; Walk-in closet(s); Breakfast bar; Pantry; Kitchen island; Laminate countertops; Wood/butcher block countertops
• Laundry & utility: Utility room on the main level; Electric water heater; Tank water heater

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath manufactured listed at $159k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $842 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $159k).
• Recommended offer: $157k (1.5% below list) — sets the bar for market timing.
• Cap rate 12.6% 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: Meridian Elementary School (math 37% / reading 47%, grade F, #217 of 357 statewide, top 62%, 448 students, 66% FRL); Meridian Academy (math 10% / reading 30%, grade F, #141 of 169 statewide, top 87%, 171 students, 40% FRL) — zoned schools average 53% FRL vs 23% district-wide (31 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 31% at this address vs 60% district-wide (-29 pts) — the specific schools serving this property underperform the Joint School District No. 2 average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+3.8%/yr); 748 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 15d 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).
• This rent runs 30% of the median local income ($97k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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 $45k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 26 days — a 2% lower offer ($157k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $156,615 (1.5% below list)

Questions for the listing agent

1. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.54% ✓
• Cap rate: 12.64%
• Cash-on-cash: 22.68%
• DSCR: 2.01
• GRM: 5.4

CMA / ARV

• ARV (on-the-fly): $166,656
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
700 E Fairview #165	0.70mi	3/2.0 (-1)	1,778 (-1%)	9mo	$139,900	$79	53
700 E Fairview Ave #52	0.72mi	3/3.0 (-1)	1,772 (-1%)	13mo	$165,000	$93	45

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: 16.5%
• Equity multiple: 1.67×
• Total profit: $29,962
• Equity at exit: $23,707

10-year hold

• IRR: 25.7%
• Equity multiple: 3.34×
• Total profit: $103,993
• Equity at exit: $13,747

Cash invested: $44,520 (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: 5.4×

Monthly cashflow live

• Estimated rent: $2,456 high
• Mortgage (P&I): −$834
• Tax est. 1.5%: −$199 /mo · $2,385/yr
• Insurance: −$66
• HOA: −$0
• Vacancy / Maint / Mgmt: −$516
• Net cashflow: $842

Break-even live

Break-even rent $1,391

Max offer price $159,000

Occupancy floor 61%

Sensitivity live

Price	-10% $951	-5% $896	+0% $842	+5% $787	+10% $732
Rent	-10% $647	-5% $745	+0% $842	+5% $939	+10% $1,036
Rate	-1.0pp $922	-0.5pp $882	base $842	+0.5pp $800	+1.0pp $758

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: $39,750
• Closing costs: $4,770
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1685 NW 13th Ave Meridian, ID	3.0	2.0	1227	$2,050	$1.67	14d	1	0.52mi
2686 N Vallin Ave Meridian, ID	3.0	2.0	1564	$2,350	$1.50	24d	1	0.57mi
1510 W Storey St Meridian, ID	3.0	2.0	1573	$1,989	$1.26	24d	1	0.64mi
2724 N Sommersby Way Meridian, ID	3.0	2.0	1624	$2,200	$1.35	24d	1	0.66mi
2946 NW 8th Ave Meridian, ID	4.0	2.5	2540	$2,900	$1.14	15d	1	0.74mi
3104 N Venable Ln Meridian, ID	1.0–3.0	1.0–2.5	1164	$2,595	$2.23	3d	17	0.82mi
2835 NW 12th Dr Meridian, ID	4.0	2.0	1821	$2,500	$1.37	3d	1	0.83mi
689 W Pebblestone Ln Meridian, ID	2.0–3.0	2.5	1345	$2,500	$1.86	24d	12	0.84mi
1615 N Kastle Falls Ave Meridian, ID	4.0	2.5	2018	$2,450	$1.21	24d	1	0.89mi
1067 N Crestley Ave Meridian, ID	3.0	2.0	1292	$2,145	$1.66	3d	1	1.01mi
992 E Grouse Dr Meridian, ID	4.0	2.0	1654	$2,700	$1.63	11d	1	1.01mi
2455 W Baystone Dr Meridian, ID	3.0	2.0	1340	$2,250	$1.68	3d	1	1.28mi
1241 E Ringneck Ct Meridian, ID	4.0	2.0	1718	$2,245	$1.31	3d	1	1.32mi

Listing history 14 events

1. 2026-06-18
   days on market $159,000 Active 26 DOM
2. 2026-06-17
   days on market $159,000 Active 25 DOM
3. 2026-06-16
   days on market $159,000 Active 24 DOM
4. 2026-06-15
   days on market $159,000 Active 23 DOM
5. 2026-06-13
   days on market $159,000 Active 21 DOM
6. 2026-06-10
   days on market $159,000 Active 18 DOM
7. 2026-06-09
   days on market $159,000 Active 17 DOM
8. 2026-06-08
   days on market $159,000 Active 16 DOM
9. 2026-06-07
   days on market $159,000 Active 15 DOM
10. 2026-06-03
    days on market $159,000 Active 11 DOM
11. 2026-06-03
    days on market $159,000 Active 10 DOM
12. 2026-06-01
    days on market $159,000 Active 9 DOM
13. 2026-05-31
    days on market $159,000 Active 8 DOM
14. 2026-05-23
    listed $159,000 Active

ⓘ 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 1/10 Low
• 🌡 Heat 5/10 Major 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: $29,473
• − Mortgage interest: −$8,906
• − Property taxes: −$2,385
• − Insurance: −$795
• − Repairs & maintenance: −$2,358
• − Management: −$2,358
• − Depreciation: −$4,625
• Taxable income: $8,046
• Est. tax owed @ 24.0%: −$1,931
• After-tax cash flow: $8,167/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 · 26 photos

Good 85/100 Cosmetic rehab

This beautifully renovated 4-bedroom, 2-bathroom manufactured home in Meridian is move-in ready with modern updates and ample natural light. It offers a spacious layout and is in excellent condition.

Value-add opportunities

• Both Painting exterior siding — Enhances curb appeal and value
• Both Landscaping and curb appeal — Improves curb appeal and value
• Both Add a small front porch — Enhances curb appeal and value

Renovation cost estimate screening

Value-add ROI direction

• Both Painting exterior siding — Enhances curb appeal and value ↑
• Both Landscaping and curb appeal — Improves curb appeal and value ↑
• Both Add a small front porch — Enhances curb appeal and value ↑

ⓘ 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

• 2026-05-23 Listed $159,000 IMLS