2401 S Owyhee St #14 · Boise City, ID 83705

$115,000

2 bd · 2.0 ba · 1,040 sqft · Manufactured · 118 Days on market

Built 1991 Est $118k · at est. ↓ 4% 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 +8.5/15.0
• Rent growth +4.3/5.0
• Schools +4.2/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Great home in nicely maintained park. This 2-bedroom, 2 bath home has vaulted ceilings, large rooms and newer flooring throughout. Enjoy a move-in ready home that includes the refrigerator, washer and dryer and an 8' x 12' Tuff shed. You will also appreciate the carport for your personal vehicle and an RV storage area the park offers for only $15/month. Lot rent is $708/month which includes water and sewer. The inviting 55+ community is located on the bench near downtown Boise, shopping, entertainment, many parks and the Boise greenbelt. This is your opportunity to enjoy low-maintenance living in a desired Boise location!

Key facts

• Move-in ready
• Newer flooring
• Tuff shed

Tags

• VAULTED CEILINGS
• NEWER FLOORING
• MOVE-IN READY
• TUFF SHED
• CARPORT
• RV STORAGE AREA

Property features AI

Finance

• HOA & community: Located in a senior (55+) community / mobile home park

Exterior

• Parking: 2 covered tandem carport spaces
• Security: Bathroom grab bars
• Utilities: City water service; Sewer connected
• Home design: Mobile/manufactured home on rented lot; Located in an over-55 mobile home park community
• Construction: Built in 1991
• Exterior features: Partial vinyl and wood fencing; Paved road access; Composition roof

Interior

• Kitchen: Pantry; Laminate counters; Dishwasher; Oven/Range (freestanding); Refrigerator
• Bedrooms: 2 bedrooms (both on main level)
• Flooring: Carpet; Vinyl
• Bathrooms: 2 bathrooms
• Heating & cooling: Electric forced air heating; Heat pump; Central air conditioning
• Interior features: Bath in master bedroom; Master bedroom on main level; Walk-in closet(s); Pantry; Laminate counters
• Laundry & utility: Washer; Dryer; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $115k.

Deal economics

• At list price, monthly cash flow is $645 ($8k/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: $105k (9.0% below list) — sets the bar for market timing.
• Cap rate 13.0% 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 B — affects rentability + tenant quality, not the cash-flow math above.
• 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: Whitney Elementary School (math 23% / reading 29%, grade F, #329 of 357 statewide, top 92%, 476 students, 99% FRL); Borah Senior High School (math 34% / reading 57%, grade D-, #59 of 169 statewide, top 35%, 1,289 students, 25% FRL) — zoned schools average 62% FRL vs 33% district-wide (29 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 36% at this address vs 49% district-wide (-13 pts) — the specific schools serving this property underperform the Boise Independent District average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising fast (+7.4%/yr); 135 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); 5,129 units permitted in Ada County in 2024 (414 in 5+ unit buildings).
• This rent runs 34% of the median local income ($65k/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 $795 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 + 7.4% 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 118 days — a 9% lower offer ($105k) is reasonable based on typical stale-listing flexibility.

Recommended offer $104,650 (9.0% below list)

Questions for the listing agent

1. It's been on market 118 days. Have you received any prior offers? Is the seller open to a 9% 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. 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: 1.59% ✓
• Cap rate: 13.03%
• Cash-on-cash: 24.05%
• DSCR: 2.07
• GRM: 5.3

CMA / ARV

• ARV (on-the-fly): $117,520
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2401 S Owyhee St #14	0.00mi	2/2.0	1,040 (0%)	0mo	$115,000	$111	100
2401 S Owyhee St Spc 63	0.06mi	3/2.0 (+1)	1,040 (0%)	11mo	$117,500	$113	83
2401 S Owyhee St. #88 St	0.06mi	3/2.0 (+1)	1,104 (+6%)	6mo	$175,000	$159	76
2401 S Owyhee St. #52 #52	0.06mi	3/2.0 (+1)	1,119 (+8%)	6mo	$185,000	$165	75
2401 S Owyhee St #89	0.06mi	3/2.0 (+1)	1,040 (0%)	23mo	$83,000	$80	73
2401 S Owyhee St Spc 9	0.06mi	3/2.0 (+1)	1,152 (+11%)	9mo	$139,900	$121	67
2401 S Owyhee St #62	0.06mi	2/2.0	924 (-11%)	18mo	$40,000	$43	64
3249 W Cherry Ln #2	0.54mi	2/1.5	924 (-11%)	6mo	$32,000	$35	49

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 · 7.38% rent growth · sell at horizon

5-year hold

• IRR: 22.2%
• Equity multiple: 1.96×
• Total profit: $30,885
• Equity at exit: $17,147

10-year hold

• IRR: 32.9%
• Equity multiple: 4.65×
• Total profit: $117,614
• Equity at exit: $9,943

Cash invested: $32,200 (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 83705

• Rents YoY: 7.4%
• Active inventory: 135
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $1,823 high
• Mortgage (P&I): −$603
• Tax est. 1.5%: −$144 /mo · $1,725/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$383
• Net cashflow: $645

Break-even live

Break-even rent $1,006

Max offer price $115,000

Occupancy floor 60%

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2062 Gourley St Boise, ID	2.0	2.0	1372	$2,000	$1.46	10d	1	0.26mi
2012 S Kerr St Boise, ID	3.0	2.5	1435	$2,395	$1.67	23d	1	0.36mi
2234 S Shoshone St Boise, ID	3.0	2.5	1396	$2,245	$1.61	3d	1	0.38mi
TBD Cherry Ln Boise, ID	2.0–3.0	1.0–2.0	1125	$1,361	$1.21	14d	1	0.47mi
2561 W Targee St Boise, ID	2.0	1.0	850	$1,395	$1.64	23d	1	0.66mi
2559 W Targee St Boise, ID	2.0	1.0	850	$1,395	$1.64	23d	1	0.66mi
4213 W Clark St Boise, ID	2.0	1.0	754	$1,750	$2.32	23d	1	0.77mi
1109 S Abbey Cir Boise, ID	2.0	2.0	1326	$2,400	$1.81	23d	1	0.99mi
1912 W Tendoy Dr Boise, ID	3.0	1.0	1065	$2,340	$2.20	14d	1	1.02mi
2219 W Kootenai St Boise, ID	2.0	2.0	779	$1,700	$2.18	21d	1	1.13mi
1110 Manor Dr Unit 102/UnitB Boise, ID	3.0	2.0	1400	$2,350	$1.68	14d	1	1.17mi
3916 W Albion St Boise, ID	2.0	1.0	900	$1,400	$1.56	23d	1	1.20mi
1623 Olympia Dr Boise, ID	2.0	1.0	820	$2,000	$2.44	14d	1	1.23mi
1773 W Victory Rd Boise, ID	3.0	1.0	1207	$2,395	$1.98	3d	1	1.23mi
1621 W Olympia Dr Boise, ID	2.0	1.0	820	$2,000	$2.44	14d	1	1.23mi
4840 Blaser Cir Boise, ID	2.0	1.0	925	$1,425	$1.54	19d	1	1.24mi
2818 W Rose Hill St Unit 1324052P Boise, ID	2.0	1.0	796	$1,843	$2.32	23d	1	1.39mi
2175 S Curtis Rd Unit 2175 Boise, ID	2.0	1.0	842	$1,695	$2.01	3d	1	1.41mi
1309 W Melrose St Boise, ID	3.0	1.0	865	$3,175	$3.67	23d	1	1.43mi
3211 W Hamilton St Boise, ID	1.0	1.0	1000	$1,300	$1.30	11d	1	1.44mi

Listing history 3 events

1. 2026-05-22
   status Pending
2. 2026-04-20
   price $115,000
3. 2026-01-23
   listed $120,000 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 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: $21,875
• − Mortgage interest: −$6,442
• − Property taxes: −$1,725
• − Insurance: −$575
• − Repairs & maintenance: −$1,750
• − Management: −$1,750
• − Depreciation: −$3,345
• Taxable income: $6,288
• Est. tax owed @ 24.0%: −$1,509
• After-tax cash flow: $6,235/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 — Boise City

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

Census & demographics

• Census place: Boise City, ID
• County: Ada County · 522,161 people
• City population: 152,689
• Metro: Boise City, ID
• Population (ZIP): 26,830
• Household income: $64,731
• Rent vs Own: 43.4% rent · 56.6% own
• Severe rent burden: 1509.0

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 (76%)
• Race & ethnicity: White 76% Hispanic / Latino 13% Two or more races 8% Asian 3% Black 3% Native American 1%
• Hispanic origin (detail): Mexican 10%
• Common ancestry: Slovak 4% Italian 3% Lithuanian 3%
• Foreign-born: 9% · Canada, China
• Languages at home: 87% English-only · Spanish 7% Arabic 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: ▼ -396.60%
• Current HPI: 430.0629
• Rent YoY: ▲ 7.38%
• 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

-4.2% since first listed

3 events — show timeline

• 2026-05-22 Pending — IMLS
• 2026-04-20 Price Changed $115,000 IMLS
• 2026-01-23 Listed $120,000 IMLS