412 E 48th St Trlr 21 · Garden City, ID 83714

$67,990

3 bd · 1.0 ba · 840 sqft · Manufactured · 156 Days on market

Built 1972 Est $64k · 7% over ↓ 9% since listing

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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 +4.6/15.0
• 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

Welcome home to this beautifully renovated manufactured home featuring fresh interior and exterior paint, stylish LVP flooring, and a fully remodeled bathroom with a tiled shower and brand-new vanity. The kitchen includes a stainless steel dishwasher and oven range, and the refrigerator, washer, and dryer are included. Situated on a spacious rented lot, this home offers added flexibility as the park allows manufactured homes to be rented—making it a great option for an investment or low-maintenance living. Lot rent is $540/month and includes water, sewer, and trash. Buyer must be approved by River View property management.

Key facts

• Oven range
• Brand-new vanity
• Tiled shower

Tags

• RENOVATED MANUFACTURED HOME
• FULLY REMODELED BATHROOM
• TILED SHOWER
• BRAND-NEW VANITY
• STAINLESS STEEL DISHWASHER
• OVEN RANGE

Property features AI

Exterior

• Utilities: City water service; Sewer connected
• Home design: Mobile/manufactured home on a rented lot; Single-story
• Construction: Wood siding; Metal roof; Built in 1972
• Exterior features: Located in a mobile home park

Interior

• Kitchen: Dishwasher; Freestanding oven/range; Refrigerator
• Bedrooms: Three bedrooms, all on the main level
• Bathrooms: One bathroom
• Heating & cooling: Forced air heating (natural gas); Wall/window air conditioning units
• Interior features: Main-level living areas
• Laundry & utility: Washer and dryer; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath manufactured listed at $68k.

Deal economics

• At list price, monthly cash flow is $674 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $68k).
• Recommended offer: $60k (12.0% below list) — sets the bar for market timing.
• Cap rate 25.7% 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: Mountain View Elementary School (math 42% / reading 47%, grade F, #199 of 357 statewide, top 59%, 312 students, 31% FRL); Capital Senior High School (math 34% / reading 57%, grade D-, #59 of 169 statewide, top 35%, 1,220 students, 28% FRL) — zoned schools at 29% FRL track the district average.
• Market conditions: Rents rising fast (+4.9%/yr); 445 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 19d 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 $470 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 $19k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 156 days — a 12% lower offer ($60k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $59,831 (12.0% below list)

Questions for the listing agent

1. It's been on market 156 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 2.92% ✓
• Cap rate: 25.72%
• Cash-on-cash: 69.39%
• DSCR: 4.09
• GRM: 2.8

CMA / ARV

• ARV (on-the-fly): $63,840
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4816 Adams St #35	0.03mi	2/1.5 (-1)	896 (+7%)	21mo	$65,000	$73	63
306 E 47th St #14	0.22mi	2/2.0 (-1)	938 (+12%)	7mo	$84,000	$90	55
501 E 44th St #2	0.58mi	2/1.0 (-1)	840 (0%)	17mo	$59,900	$71	53
415 E 44th St #12	0.60mi	3/1.0	720 (-14%)	5mo	$55,000	$76	44
127 E 44th St. #1 #1	0.65mi	2/2.0 (-1)	896 (+7%)	14mo	$99,900	$111	38
415 E 44th St #14	0.60mi	2/2.0 (-1)	960 (+14%)	5mo	$79,900	$83	35
301 E 45th St #18	0.48mi	2/1.0 (-1)	728 (-13%)	24mo	$54,900	$75	30

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 · 4.87% rent growth · sell at horizon

5-year hold

• IRR: 42.3%
• Equity multiple: 2.89×
• Total profit: $36,035
• Equity at exit: $10,138

10-year hold

• IRR: 49.7%
• Equity multiple: 6.47×
• Total profit: $104,116
• Equity at exit: $5,879

Cash invested: $19,037 (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: 2.8×

Monthly cashflow live

• Estimated rent: $1,988 high
• Mortgage (P&I): −$357
• Tax est. 1.5%: −$85 /mo · $1,020/yr
• Insurance: −$28
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$418
• Net cashflow: $674

Break-even live

Break-even rent $1,135

Max offer price $67,990

Occupancy floor 61%

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: $16,998
• Closing costs: $2,040
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
485 E 50th St Garden City, ID	1.0–2.0	1.0–2.0	885	$1,525	$1.72	11d	1	0.30mi
316 E 46th Pl Garden City, ID	2.0	1.0	1080	$2,250	$2.08	23d	1	0.37mi
5216 W Wylie Ln Boise, ID	3.0	1.0	915	$1,995	$2.18	3d	1	0.37mi
3304 N Lakeharbor Ln Boise, ID	1.0–3.0	1.0–2.0	1000	$2,251	$2.25	2d	16	0.61mi
408 E 43rd St Garden City, ID	2.0–3.0	2.0	1314	$3,508	$2.67	3d	3	0.65mi
4315 N Adams St Garden City, ID	3.0	2.0	1004	$2,000	$1.99	23d	1	0.67mi
4220 N Adams St Garden City, ID	2.0	1.0–2.0	767	$2,333	$3.04	2d	7	0.79mi
385 E 42nd St Garden City, ID	1.0–2.0	1.0–2.0	832	$1,495	$1.80	3d	1	0.83mi
3950 N Cambria Way Boise, ID	2.0	1.0	863	$1,695	$1.96	23d	1	0.93mi
521 E 41st St Garden City, ID	2.0	1.0–2.0	814	$5,000	$6.14	23d	18	0.96mi
737 N Stilson Rd Boise, ID	2.0	1.0	766	$1,430	$1.87	3d	1	0.96mi
3894 W Glendale St Boise, ID	2.0	1.0	925	$1,595	$1.72	19d	1	0.96mi
1137 N Arthur Ln Boise, ID	2.0	1.0	816	$1,151	$1.41	23d	1	1.00mi
331 E 40th St Garden City, ID	2.0	2.0	678	$1,875	$2.77	2d	1	1.06mi
6103 W State St Unit 6103-12 Boise, ID	2.0	1.0	825	$1,350	$1.64	23d	1	1.16mi
6043 W Port Pl Unit 104 Boise, ID	2.0	2.0	950	$1,345	$1.42	2d	1	1.20mi
7521 W Tottenham Ln Apt 202 Boise, ID	3.0	2.0	1113	$1,595	$1.43	23d	1	1.23mi
1917 N 33rd St Boise, ID	2.0	1.5	988	$2,600	$2.63	23d	1	1.46mi

Listing history 8 events

1. 2026-06-18
   days on market $67,990 Active 156 DOM
2. 2026-06-17
   days on market $67,990 Active 155 DOM
3. 2026-06-16
   days on market $67,990 Active 154 DOM
4. 2026-06-15
   days on market $67,990 Active 153 DOM
5. 2026-06-13
   days on market $67,990 Active 151 DOM
6. 2026-06-10
   pricestatusdays on market $67,990 Active 148 DOM
7. 2026-03-09
   price $72,990
8. 2025-12-30
   listed $79,990 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 2/10 Low FEMA zone AE · 3% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥96°F today · 18 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 8/10 Severe 14 unhealthy d/yr today · 19 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,859
• − Mortgage interest: −$3,808
• − Property taxes: −$1,020
• − Insurance: −$5,458
• − Repairs & maintenance: −$1,909
• − Management: −$1,909
• − Depreciation: −$1,978
• Taxable income: $7,777
• Est. tax owed @ 24.0%: −$1,867
• After-tax cash flow: $6,226/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

-8.8% since first listed

2 events — show timeline

• 2026-03-09 Price Changed $72,990 IMLS
• 2025-12-30 Listed $79,990 IMLS