9212 W Brogan Dr A & B · Boise City, ID 83709

$1,700,000

24 bd · 16.0 ba · 9,424 sqft · MultiFamily · 28 Days on market

Built 2006 Good condition Est $1696k · at est. $860/mo HOA · 44% of rent

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Why this score? — see what drove the D 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 +12.9/30.0
• ARV discount +7.4/15.0
• Schools +5.2/10.0
• 1% rule +4.3/10.0
• Condition / age +4.0/5.0
• DSCR +3.8/10.0
• Rent growth +3.6/5.0
• Livability +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

Exceptional Investment Opportunity in South Boise – 8 unit bldg (two 4-Plex) w Strong Returns Discover this well-maintained 8 units bldg in the highly desirable South Boise area, surrounded by established single-family homes. Each of the four units boasts a spacious * * 3-bedroom, 2-bathroom layout * * , making it a sought-after choice for tenants and ensuring consistent occupancy. An additional 8 unit bldg is also available (two 4 plexs) With a * * 5.7% CAP rate * * and a stable rent history, this property offers reliable cash flow for savvy investors. Exterior maintenance is * * handled by the owners' association * * , making it incredibly easy to manage and ideal for th

Key facts

• Prime neighborhood
• Close to amenities
• Spacious layout

Tags

• SPACIOUS LAYOUT
• PRIME NEIGHBORHOOD
• CLOSE TO AMENITIES

Property features AI

Finance

• Other: Current use listed as 2-4 units (zoning/use detail present)
• Financial info: Annual taxes listed (not included per instructions)
• HOA & community: Monthly association fee of $860

Exterior

• Parking: Total of 8 parking spaces
• Utilities: City water service; Sewer connected; Cable connected; Separate electric and gas meters for each unit
• Home design: Apartment building; Built in 2006
• Construction: Stucco and synthetic exterior
• Exterior features: Composition roof; Irrigation; Sidewalks

Interior

• Kitchen: All units include a stove/range; All units include a refrigerator; All units include a disposal
• Bedrooms: Total of 24 bedrooms across the property
• Flooring: Laminate flooring; Vinyl flooring
• Bathrooms: Total of 16 bathrooms across the property
• Heating & cooling: Forced air heating (natural gas); Central air conditioning serving all units
• Interior features: Apartment property with 8 total units; All units have central air
• Laundry & utility: Each unit has separate electric and gas meters

What this means for you Summary

Snapshot

• This is a 24-bed/16.0-bath multifamily listed at $1.70M. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-139 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $1.68M (1.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $1.58M (7.2% below list).
• Recommended offer: $1.58M (7.2% below list) — sets the bar for 1% rule.
• Cap rate 6.2% vs local median 2.6% in Boise 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: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• 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: Eliza Hart Spalding Stem Academy (math 65% / reading 65%, grade B+, #41 of 357 statewide, top 12%, 678 students, 17% FRL); Lake Hazel Middle School (math 46% / reading 64%, grade B-, #17 of 109 statewide, top 16%, 1,065 students, 29% FRL); Mountain View High School (math 42% / reading 72%, grade C, #21 of 169 statewide, top 13%, 2,462 students, 16% FRL) — zoned schools at 21% FRL track the district average.
• Market conditions: Rents rising fast (+4.3%/yr); 306 active listings in the ZIP; solid renter incomes; 5,129 units permitted in Ada County in 2024 (414 in 5+ unit buildings).
• At $15,784/mo this rent would consume 204% of the median local household income ($93k/yr) (locally 569% of renters already pay >50% of income on rent) — 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 $12k of loan paydown is wiped out by about $51k 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 28 days — a 2% lower offer ($1.67M) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 16y 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.

Risks & watch-outs

• Climate carrying-cost: major flood risk; major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $1,578,400 (7.2% below list)

Questions for the listing agent

1. 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?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.93% ✗
• Cap rate: 6.19%
• Cash-on-cash: -0.35%
• DSCR: 0.98
• GRM: 9.0

CMA / ARV

• ARV (on-the-fly): $1,696,320
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
9200 W Brogan Dr A & B	0.03mi	24/16.0	9,424 (0%)	8mo	$1,700,000	$180	92

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 · 4.26% rent growth · sell at horizon

5-year hold

• IRR: -15.3%
• Equity multiple: 0.45×
• Total profit: $-263,296
• Equity at exit: $253,476

10-year hold

• IRR: -4.6%
• Equity multiple: 0.68×
• Total profit: $-152,252
• Equity at exit: $146,985

Cash invested: $476,000 (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 83709

• Rents YoY: 4.3%
• Active inventory: 306
• Price-to-rent: 71.8×

Monthly cashflow live

• Estimated rent: $15,784 high
• Mortgage (P&I): −$8,915
• Tax est. 1.5%: −$2,125 /mo · $25,500/yr
• Insurance: −$708
• HOA: −$860
• Vacancy / Maint / Mgmt: −$3,315
• Net cashflow: $-139

Break-even live

Break-even rent $15,960

Max offer price $1,679,893

Occupancy floor 96%

Sensitivity live

Price	-10% $1,036	-5% $448	+0% $-139	+5% $-726	+10% $-1,314
Rent	-10% $-1,386	-5% $-762	+0% $-139	+5% $485	+10% $1,108
Rate	-1.0pp $717	-0.5pp $293	base $-139	+0.5pp $-579	+1.0pp $-1,028

8-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 8× units	3	2	$15,784
Total (8 units)			$15,784

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: $425,000
• Closing costs: $51,000
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $860 · $10,320/yr
• Likely covers: exterior maint.

Listing history 26 events

1. 2026-06-16
   statusdays on market $1,700,000 Pending 28 DOM
2. 2026-06-15
   days on market $1,700,000 Active 27 DOM
3. 2026-06-13
   days on market $1,700,000 Active 25 DOM
4. 2026-06-10
   days on market $1,700,000 Active 22 DOM
5. 2026-06-09
   days on market $1,700,000 Active 21 DOM
6. 2026-06-08
   days on market $1,700,000 Active 20 DOM
7. 2026-06-07
   days on market $1,700,000 Active 19 DOM
8. 2026-06-03
   days on market $1,700,000 Active 15 DOM
9. 2026-06-03
   days on market $1,700,000 Active 14 DOM
10. 2026-06-01
    days on market $1,700,000 Active 13 DOM
11. 2026-05-31
    days on market $1,700,000 Active 12 DOM
12. 2026-05-19
    listed $1,700,000 Active
13. 2026-04-11
    historical
14. 2026-04-11
    historical
15. 2025-09-25
    listed $1,700,000 Active
16. 2025-09-25
    listed $850,000 Active
17. 2024-08-02
    historical
18. 2024-06-18
    listed $875,000 Active
19. 2024-04-28
    historical
20. 2024-04-28
    historical
21. 2024-04-18
    status Pending
22. 2024-04-18
    status Pending
23. 2024-03-06
    listed $950,000 Active
24. 2024-03-06
    listed $950,000 Active
25. 2010-04-23
    listed $360,000
26. 2010-04-23
    listed $360,000

ⓘ 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 6/10 Major FEMA zone X (unshaded) · 67% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 Heat 4/10 Moderate 7 d/yr ≥96°F today · 18 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 7/10 Severe 12 unhealthy d/yr today · 15 by 30 yrs out

Taxation est. · year 1

• Rental income: $189,408
• − Mortgage interest: −$95,226
• − Property taxes: −$25,500
• − Insurance: −$8,500
• − Repairs & maintenance: −$15,153
• − Management: −$15,153
• − HOA: −$10,320
• − Depreciation: −$49,455
• Taxable loss: −$29,898
• Est. tax savings @ 24.0%: +$7,176
• After-tax cash flow: $5,508/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

Good 80/100 Cosmetic rehab

This well-maintained 8-unit building offers a good investment opportunity with minimal repairs needed. Fresh paint and updated fixtures would significantly enhance its value.

Repairs flagged

• Minor Kitchen cabinets — Worn appearance
• Minor Bathroom fixtures — Signs of wear

Value-add opportunities

• Both Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics
• Both Replace worn kitchen cabinets — New cabinets improve functionality and appearance
• Both Replace worn bathroom fixtures — New fixtures improve functionality and appearance

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · Worn appearance	Minor	$500–3,000
Bathroom fixtures · Signs of wear	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Both Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both Replace worn kitchen cabinets — New cabinets improve functionality and appearance ↑
• Both Replace worn bathroom fixtures — New fixtures improve functionality and appearance ↑

ⓘ 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 — Boise City

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• County: Ada County · 522,161 people
• City population: 152,689
• Metro: Boise City, ID
• Population (ZIP): 58,928
• Household income: $92,786
• Rent vs Own: 18.7% rent · 81.3% own
• Severe rent burden: 569.0

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 (82%)
• Race & ethnicity: White 82% Hispanic / Latino 8% Two or more races 7% Asian 3% Black 2%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Portuguese 4% Slovak 3% Lithuanian 3%
• Foreign-born: 7% · Canada, China, Vietnam
• Languages at home: 90% English-only · Spanish 3% 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: ▼ -379.92%
• Current HPI: 358.8386
• Rent YoY: ▲ 4.26%
• 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

+372.2% since first listed

15 events — show timeline

• 2026-05-19 Listed $1,700,000 IMLS
• 2026-04-11 Listing Removed — IMLS
• 2026-04-11 Listing Removed — IMLS
• 2025-09-25 Listed $850,000 IMLS
• 2025-09-25 Listed $1,700,000 IMLS
• 2024-08-02 Listing Removed — IMLS
• 2024-06-18 Listed $875,000 IMLS
• 2024-04-28 Listing Removed — IMLS
• 2024-04-28 Listing Removed — IMLS
• 2024-04-18 Pending — IMLS
• 2024-04-18 Pending — IMLS
• 2024-03-06 Listed $950,000 IMLS
• 2024-03-06 Listed $950,000 IMLS
• 2010-04-23 Listed $360,000 IMLS
• 2010-04-23 Listed $360,000 IMLS