509 E Watercress Ln · Eagle, ID 83616

$155,000

2 bd · 2.0 ba · 1,323 sqft · Manufactured · 169 Days on market

Built 2021 Est $107k · 45% over ↓ 3% since listing

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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).

• Cash flow +29.7/30.0
• DSCR +10.0/10.0
• 1% rule +8.3/10.0
• Schools +5.2/10.0
• Livability +3.9/5.0
• Rent growth +3.6/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Affordable lightly lived in 3 year old home in downtown Eagle. Sizeable partially fenced level lot. Additional fencing allowed. Walkability is amazing - proximity to all things Eagle, Idaho. Lot rent is only $655/month, includes water, sewer, trash. All appliances and window coverings included. Many long term residents in park.

Key facts

• Huge living room
• Upgraded cabinetry
• Built 2021

Tags

• EAGLE MEADOWS VILLAGE
• UPGRADED CABINETRY
• SPLIT BEDROOM FLOORPLAN
• HUGE LIVING ROOM
• FULL SUBWAY TILE BACKSPLASH
• 5 BURNER SMOOTH-TOP RANGE

Property features AI

Finance

• Other: Property currently designated as Mobile/Manu Rented Lot
• HOA & community: Located in the Eagle Meadows subdivision; situated in a mobile home park

Exterior

• Parking: Finished driveway
• Utilities: City water service; Sewer connected; Cable connected; Broadband internet available
• Home design: Mobile/manufactured home on a rented lot; Built in 2021
• Construction: HardiPlank and wood siding; Composition roof; Built by Marlette
• Exterior features: Partial fencing (metal and wood); Located in a mobile home park; Private paved road frontage

Interior

• Kitchen: Kitchen on main level (~12 x 11); Dishwasher; Microwave; Freestanding oven/range; Refrigerator; Laminate counters
• Bedrooms: 2 bedrooms on the main level (Master: ~13 x 12; Bedroom 2: ~11 x 11)
• Flooring: Vinyl flooring
• Bathrooms: 2 bathrooms
• Heating & cooling: Electric forced-air heating; Wall/window air conditioning units
• Interior features: Master bath; Split bedroom layout; Den/office; Walk-in closet(s); Laminate counters
• Laundry & utility: Washer and dryer included; Utility room on main level (~5 x 4); Electric tank water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $155k.

Deal economics

• At list price, monthly cash flow is $563 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $155k).
• Recommended offer: $136k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.6% vs local median 1.1% in Eagle — 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 78/100 on livability (#18 in ID, #2,702 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities D+, commute F, cost of living 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: Eagle Hills Elementary School (math 70% / reading 75%, grade A, #15 of 357 statewide, top 4%, 409 students, 10% FRL); Eagle Academy (math 5% / reading 24%, grade F, #154 of 169 statewide, top 93%, 185 students, 29% FRL) — zoned schools at 19% FRL track the district average.
• Zoned-school proficiency averages 44% at this address vs 60% district-wide (-16 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 fast (+4.3%/yr); 954 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 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 $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 + 4.3% rent growth), your $43k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 169 days — a 12% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 4 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.

Recommended offer $136,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 169 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 1.33% ✓
• Cap rate: 10.65%
• Cash-on-cash: 15.56%
• DSCR: 1.69
• GRM: 6.2

CMA / ARV

• ARV (on-the-fly): $107,163
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
538 E Watercress Ln	0.39mi	3/2.0 (+1)	1,232 (-7%)	14mo	$99,900	$81	54

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 · 4.3% rent growth · sell at horizon

5-year hold

• IRR: 7.8%
• Equity multiple: 1.31×
• Total profit: $13,497
• Equity at exit: $23,111

10-year hold

• IRR: 18.2%
• Equity multiple: 2.60×
• Total profit: $69,580
• Equity at exit: $13,402

Cash invested: $43,400 (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 83616

• Rents YoY: 4.3%
• Active inventory: 954
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $2,068 high
• Mortgage (P&I): −$813
• Tax est. 1.5%: −$194 /mo · $2,325/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$434
• Net cashflow: $563

Break-even live

Break-even rent $1,356

Max offer price $155,000

Occupancy floor 68%

Sensitivity live

Price	-10% $670	-5% $616	+0% $563	+5% $509	+10% $456
Rent	-10% $399	-5% $481	+0% $563	+5% $644	+10% $726
Rate	-1.0pp $641	-0.5pp $602	base $563	+0.5pp $523	+1.0pp $482

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: $38,750
• Closing costs: $4,650
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
167 Aikens Rd Eagle, ID	2.0	2.0	1088	$3,750	$3.45	11d	1	0.08mi
70 S 2nd St Apt 105 Eagle, ID	2.0	1.0	990	$1,450	$1.46	24d	1	0.17mi
394 S Harlan Pl Eagle, ID	3.0	1.0	1056	$2,250	$2.13	4d	1	0.28mi
373 E Lombard Ln Eagle, ID	3.0	2.5	1596	$2,750	$1.72	24d	1	0.30mi
663 E State St Eagle, ID	2.0–3.0	1.0–2.0	1184	$1,400	$1.18	3d	12	0.43mi
76 E Ranch Dr Eagle, ID	3.0	3.0	1783	$2,595	$1.46	22d	1	0.48mi
115 S Mathie Way Eagle, ID	3.0	3.0	1771	$2,699	$1.52	4d	1	0.50mi
1271 E Lone Creek Dr Eagle, ID	3.0	2.5	1840	$2,450	$1.33	24d	1	0.99mi
923 S Lone Willow Ave Eagle, ID	2.0	2.5	1560	$2,200	$1.41	15d	1	1.01mi
338 S Edgewood Ln Eagle, ID	1.0–3.0	1.0–2.5	1237	$1,900	$1.54	3d	13	1.07mi

Listing history 21 events

1. 2026-06-21
   days on market $155,000 Active 169 DOM
2. 2026-06-18
   days on market $155,000 Active 166 DOM
3. 2026-06-17
   days on market $155,000 Active 165 DOM
4. 2026-06-16
   days on market $155,000 Active 164 DOM
5. 2026-06-15
   days on market $155,000 Active 163 DOM
6. 2026-06-13
   days on market $155,000 Active 161 DOM
7. 2026-06-10
   days on market $155,000 Active 158 DOM
8. 2026-06-09
   days on market $155,000 Active 157 DOM
9. 2026-06-08
   days on market $155,000 Active 156 DOM
10. 2026-06-07
    days on market $155,000 Active 155 DOM
11. 2026-06-03
    days on market $155,000 Active 151 DOM
12. 2026-06-03
    days on market $155,000 Active 150 DOM
13. 2026-06-01
    days on market $155,000 Active 149 DOM
14. 2026-05-31
    days on market $155,000 Active 148 DOM
15. 2026-01-03
    listed $155,000 Active
16. 2025-11-30
    historical
17. 2025-03-30
    listed $165,000 Active
18. 2024-07-19
    soldstatus 329-char remark

    Show marketing remark (329 chars)

    Affordable lightly lived in 3 year old home in downtown Eagle. Sizeable partially fenced level lot. Additional fencing allowed. Walkability is amazing - proximity to all things Eagle, Idaho. Lot rent is only $655/month, includes water, sewer, trash. All appliances and window coverings included. Many long term residents in park.

19. 2024-07-09
    historical
20. 2024-05-05
    listed $160,000 Active
21. 2024-05-02
    listed $160,000 329-char remark

    Show marketing remark (329 chars)

    Affordable lightly lived in 3 year old home in downtown Eagle. Sizeable partially fenced level lot. Additional fencing allowed. Walkability is amazing - proximity to all things Eagle, Idaho. Lot rent is only $655/month, includes water, sewer, trash. All appliances and window coverings included. Many long term residents in park.

ⓘ 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: $24,819
• − Mortgage interest: −$8,682
• − Property taxes: −$2,325
• − Insurance: −$775
• − Repairs & maintenance: −$1,986
• − Management: −$1,986
• − Depreciation: −$4,509
• Taxable income: $4,557
• Est. tax owed @ 24.0%: −$1,094
• After-tax cash flow: $5,660/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: 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 — Eagle

• Score: 78/100
• State rank: #18
• US rank: #2702

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Eagle, ID
• County: Ada County · 522,161 people
• City population: 35,413
• Metro: Boise City, ID
• Population (ZIP): 35,413
• Household income: $125,203
• Rent vs Own: 15.5% rent · 84.5% own
• Severe rent burden: 585.0

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% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Italian 5% Slovak 4% Lithuanian 3%
• Foreign-born: 6% · Canada
• Languages at home: 93% English-only · Spanish 3% Russian/Polish/Slavic 1% Other Asian/Pacific 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: ▼ -194.48%
• Current HPI: 314.6194
• Rent YoY: ▲ 4.30%
• 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

-3.1% since first listed

7 events — show timeline

• 2026-01-03 Listed $155,000 IMLS
• 2025-11-30 Listing Removed — IMLS
• 2025-03-30 Listed $165,000 IMLS
• 2024-07-19 Sold (MLS) — IMLS
• 2024-07-09 Listing Removed — IMLS
• 2024-05-05 Listed $160,000 IMLS
• 2024-05-02 Listed $160,000 IMLS