424 W Cherry · Meridian, ID 83642

$114,900

3 bd · 2.0 ba · 1,033 sqft · Manufactured · 32 Days on market

Built 2018 Est $121k · 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 +9.7/15.0
• Schools +5.2/10.0
• Livability +4.1/5.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

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 cabinet. Additional highlights include central air, a gas furnace, and thoughtful updates throughout the home. Embassy Mobile Home Park is a quiet, well-maintained community conveniently located just minutes from shopping, restaurants, healthcare facilities, The Village at Meridian, Roaring Springs Water Park, and easy access to Interstate 84. Enjoy nearby parks including Settlers Park, Storey Park, and Tully Park, all within the West Ada School District. Whether you’re searching for your first home, looking to downsize, or simply wanting low-maintenance living in a fantastic location, this home offers the perfect blend of comfort, convenience, and community. Buyer must be approved by the mobile home park before an offer will be accepted. Contact the Park Manager for an application and community details: 208-888-1679. Current lot rent is estimated around $650 ( water, sewer, trash billed seperately by park)

Key facts

• Open floor plan
• Open concept kitchen
• Several upgrades

Tags

• OPEN FLOOR PLAN
• BIG LIVING ROOM
• OPEN CONCEPT KITCHEN
• SPACIOUS PRIMARY SUITE
• WALK-IN CLOSET
• SEVERAL UPGRADES

Property features AI

Finance

• Other:
• Financial info:
• HOA & community: Located in Embassy Mobile subdivision/mobile home park

Exterior

• Parking:
• Security:
• Utilities: City water service; Sewer connected
• Home design: Mobile/manufactured home on a rented lot; Built in 2018
• Construction: Composition roof
• Exterior features: Partial metal fencing; Manual sprinkler system; Storage shed on property; Located in a mobile home park (rented lot)

Interior

• Kitchen: Microwave; Oven/Range (freestanding)
• Bedrooms: 3 bedrooms (all on the main level); Primary bedroom approx. 14 x 10; Second bedroom approx. 11 x 11; Third bedroom approx. 14 x 8
• Flooring: Carpet; Vinyl
• Bathrooms: 2 bathrooms
• Heating & cooling: Forced air heating (natural gas); Wall/window air conditioning units
• Interior features: Primary bedroom on main level with an en-suite bath; Walk-in closet(s); Breakfast bar; Laminate countertops
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $115k.

Deal economics

• At list price, monthly cash flow is $746 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $115k).
• Recommended offer: $111k (3.0% below list) — sets the bar for market timing.
• Cap rate 14.1% 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; 15 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 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 $794 of loan paydown is wiped out by about $3k 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 $32k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 32 days — a 3% lower offer ($111k) is reasonable based on typical stale-listing flexibility.
• 26 sale attempts since 25y ago; this cycle's ask has dropped $44k (28%) from the opening price — seller is motivated, your offer sets the floor, not the list.

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 $111,453 (3.0% below list)

Questions for the listing agent

1. It's been on market 32 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
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: 1.70% ✓
• Cap rate: 14.08%
• Cash-on-cash: 27.82%
• DSCR: 2.24
• GRM: 4.9

CMA / ARV

• ARV (on-the-fly): $120,861
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
424 W Cherry Ln #68	0.02mi	3/2.0	1,080 (+4%)	4mo	$135,000	$125	88
424 W W Cherry Ln #128	0.01mi	3/2.0	1,031 (-0%)	23mo	$124,900	$121	80
424 W Cherry Ln #132	0.02mi	3/2.0	900 (-13%)	0mo	$114,900	$128	77
424 W Cherry Ln #42	0.02mi	2/2.0 (-1)	924 (-11%)	3mo	$153,400	$166	74
424 W Cherry Ln #124	0.08mi	3/2.0	900 (-13%)	9mo	$104,900	$117	67
424 W Cherry Ln #81	0.15mi	2/2.0 (-1)	990 (-4%)	21mo	$115,000	$116	64
424 W Cherry Ln #14	0.12mi	2/2.0 (-1)	924 (-11%)	13mo	$97,900	$106	61
700 E Fairview Ave #106	0.71mi	3/2.0	1,040 (+1%)	8mo	$120,000	$115	59
314 W Cherry Ln #30	0.16mi	2/2.0 (-1)	924 (-11%)	22mo	$94,900	$103	51
700 E Fairview #63	0.74mi	3/2.0	1,140 (+10%)	22mo	$124,900	$110	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 · 3.84% rent growth · sell at horizon

5-year hold

• IRR: 22.9%
• Equity multiple: 1.95×
• Total profit: $30,570
• Equity at exit: $17,132

10-year hold

• IRR: 31.4%
• Equity multiple: 3.95×
• Total profit: $94,834
• Equity at exit: $9,934

Cash invested: $32,172 (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: 4.9×

Monthly cashflow live

• Estimated rent: $1,949 high
• Mortgage (P&I): −$603
• Tax est. 1.5%: −$144 /mo · $1,724/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$409
• Net cashflow: $746

Break-even live

Break-even rent $1,005

Max offer price $114,900

Occupancy floor 57%

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: $28,725
• Closing costs: $3,447
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
395 W Cranmer Dr Meridian, ID	3.0	1.5	1224	$1,895	$1.55	3d	1	0.10mi
1685 NW 13th Ave Meridian, ID	3.0	2.0	1227	$2,050	$1.67	14d	1	0.54mi
1374 W Sandalwood Dr Meridian, ID	2.0	1.0	795	$1,295	$1.63	14d	1	0.56mi
1339 W Sandalwood Dr Meridian, ID	3.0	2.0	1168	$1,995	$1.71	3d	1	0.57mi
2985 N Meridian Rd Unit 102 Meridian, ID	2.0	1.5	1186	$1,550	$1.31	3d	1	0.69mi
511 W Pine Ave Unit D Meridian, ID	2.0	1.0	700	$1,195	$1.71	3d	1	0.71mi
3104 N Venable Ln Meridian, ID	1.0–3.0	1.0–2.5	1164	$2,595	$2.23	3d	17	0.76mi
537 W Idaho Ave Meridian, ID	2.0	1.5	1000	$1,500	$1.50	14d	1	0.77mi
539 W Idaho Ave Meridian, ID	2.0	1.5	1100	$1,500	$1.36	14d	1	0.77mi
689 W Pebblestone Ln Meridian, ID	2.0–3.0	2.5	1345	$2,500	$1.86	23d	12	0.77mi
1069 W Pine Ave #3 Meridian, ID	2.0	2.0	1014	$1,496	$1.48	3d	1	0.84mi
1033 W Pine Ave Apt 3 Meridian, ID	2.0	2.0	1014	$1,401	$1.38	3d	1	0.85mi
1067 N Crestley Ave Meridian, ID	3.0	2.0	1292	$2,145	$1.66	3d	1	1.04mi
2455 W Baystone Dr Meridian, ID	3.0	2.0	1340	$2,250	$1.68	3d	1	1.26mi
1440 N Locust Grove Rd Meridian, ID	2.0–3.0	2.5–3.0	1112	$2,275	$2.04	3d	9	1.40mi

Listing history 50 events

1. 2026-06-10
   status $114,900 Pending 32 DOM
2. 2026-06-09
   days on market $114,900 Active 32 DOM
3. 2026-06-08
   days on market $114,900 Active 31 DOM
4. 2026-06-07
   days on market $114,900 Active 30 DOM
5. 2026-06-03
   days on market $114,900 Active 26 DOM
6. 2026-06-03
   days on market $114,900 Active 25 DOM
7. 2026-06-01
   days on market $114,900 Active 24 DOM
8. 2026-05-31
   days on market $114,900 Active 23 DOM
9. 2026-05-20
   listed $159,000 Active 1638-char remark

   Show marketing remark (1638 chars)

   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 cabinet. Additional highlights include central air, a gas furnace, and thoughtful updates throughout the home. Embassy Mobile Home Park is a quiet, well-maintained community conveniently located just minutes from shopping, restaurants, healthcare facilities, The Village at Meridian, Roaring Springs Water Park, and easy access to Interstate 84. Enjoy nearby parks including Settlers Park, Storey Park, and Tully Park, all within the West Ada School District. Whether you’re searching for your first home, looking to downsize, or simply wanting low-maintenance living in a fantastic location, this home offers the perfect blend of comfort, convenience, and community. Buyer must be approved by the mobile home park before an offer will be accepted. Contact the Park Manager for an application and community details: 208-888-1679. Current lot rent is estimated around $650 ( water, sewer, trash billed seperately by park)

10. 2026-05-08
    listed $114,900 Active
11. 2025-06-12
    historical
12. 2025-03-05
    soldstatus Sold
13. 2025-02-13
    status Pending
14. 2024-12-11
    listed $179,900 Active
15. 2024-12-09
    status Active
16. 2024-11-27
    status Pending
17. 2024-10-22
    listed $129,900 Active
18. 2024-07-10
    soldstatus Sold
19. 2024-06-12
    status Pending
20. 2024-06-07
    listed $155,000 Active
21. 2020-02-14
    soldstatus Sold
22. 2020-01-22
    status Pending
23. 2019-11-27
    price $70,000
24. 2019-10-24
    price $75,000
25. 2019-10-10
    listed $84,900 Active
26. 2017-03-20
    listed $13,000
27. 2016-09-16
    listed $13,000
28. 2011-04-19
    listed $5,500
29. 2010-07-11
    listed $10,000
30. 2010-06-02
    listed $11,900
31. 2010-04-02
    listed $27,900
32. 2009-05-27
    listed $19,900
33. 2009-02-08
    listed $25,000
34. 2008-05-16
    soldstatus
35. 2008-04-09
    listed $18,500
36. 2008-03-13
    listed $20,000
37. 2008-02-06
    soldstatus
38. 2007-10-27
    listed $9,971
39. 2005-07-14
    soldstatus
40. 2005-03-01
    listed $26,500
41. 2004-04-20
    soldstatus
42. 2004-04-02
    listed $25,000
43. 2003-11-19
    soldstatus
44. 2003-08-20
    listed $14,900
45. 2003-08-04
    soldstatus
46. 2003-07-07
    soldstatus
47. 2003-06-02
    listed $9,000
48. 2003-03-04
    soldstatus
49. 2003-02-11
    listed $12,000
50. 2003-02-07
    soldstatus

ⓘ 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: $23,390
• − Mortgage interest: −$6,436
• − Property taxes: −$1,724
• − Insurance: −$574
• − Repairs & maintenance: −$1,871
• − Management: −$1,871
• − Depreciation: −$3,343
• Taxable income: $7,570
• Est. tax owed @ 24.0%: −$1,817
• After-tax cash flow: $7,132/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 — 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

+1043.9% since first listed

46 events — show timeline

• 2026-05-20 Listed $159,000 FSBO.com
• 2026-05-08 Listed $114,900 IMLS
• 2025-06-12 Listing Removed — IMLS
• 2025-03-05 Sold (MLS) — IMLS
• 2025-02-13 Pending — IMLS
• 2024-12-11 Listed $179,900 IMLS
• 2024-12-09 Relisted — IMLS
• 2024-11-27 Pending — IMLS
• 2024-10-22 Listed $129,900 IMLS
• 2024-07-10 Sold (MLS) — IMLS
• 2024-06-12 Pending — IMLS
• 2024-06-07 Listed $155,000 IMLS
• 2020-02-14 Sold (MLS) — IMLS
• 2020-01-22 Pending — IMLS
• 2019-11-27 Price Changed $70,000 IMLS
• 2019-10-24 Price Changed $75,000 IMLS
• 2019-10-10 Listed $84,900 IMLS
• 2017-03-20 Listed $13,000 IMLS
• 2016-09-16 Listed $13,000 IMLS
• 2011-04-19 Listed $5,500 IMLS
• 2010-07-11 Listed $10,000 IMLS
• 2010-06-02 Listed $11,900 IMLS
• 2010-04-02 Listed $27,900 IMLS
• 2009-05-27 Listed $19,900 IMLS
• 2009-02-08 Listed $25,000 IMLS
• 2008-05-16 Sold (MLS) — IMLS
• 2008-04-09 Listed $18,500 IMLS
• 2008-03-13 Listed $20,000 IMLS
• 2008-02-06 Sold (MLS) — IMLS
• 2007-10-27 Listed $9,971 IMLS
• 2005-07-14 Sold (MLS) — IMLS
• 2005-03-01 Listed $26,500 IMLS
• 2004-04-20 Sold (MLS) — IMLS
• 2004-04-02 Listed $25,000 IMLS
• 2003-11-19 Sold (MLS) — IMLS
• 2003-08-20 Listed $14,900 IMLS
• 2003-08-04 Sold (MLS) — IMLS
• 2003-07-07 Sold (MLS) — IMLS
• 2003-06-02 Listed $9,000 IMLS
• 2003-03-04 Sold (MLS) — IMLS
• 2003-02-11 Listed $12,000 IMLS
• 2003-02-07 Sold (MLS) — IMLS
• 2002-12-31 Listed $10,500 IMLS
• 2002-12-20 Listed $9,000 IMLS
• 2001-08-22 Sold (MLS) — IMLS
• 2001-03-12 Listed $13,900 IMLS