8227 Blue Rim Ln #33

Boise City, ID 83716

$175,000B-

3 bd · 2.0 ba · 1,436 sqft · Built 2023 · Manufactured · Active · 63 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,695/mo
• Mortgage (P&I): −$918
• Tax + insurance: −$292
• HOA: −$0
• Vac / Maint / Mgmt: −$566
• Net cashflow: $920/mo
• Annual: $11,038/yr
• Cap rate: 12.60%
• Cash-on-cash: 22.53%
• DSCR: 2.00
• 1% rule: 1.54%
• Cash to close: $49,000

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $175k. Condition is rated excellent.
• At list price, monthly cash flow is $920 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $175k).
• It's been on market 63 days — a 6% lower offer ($164k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $164k (6.0% below list) — sets the bar for market timing.
• 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.
• 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: White Pine Elementary School (math 48% / reading 54%, grade C-, #140 of 357 statewide, top 40%, 548 students, 23% FRL); Les Bois Junior High School (math 45% / reading 60%, grade C+, #25 of 109 statewide, top 23%, 705 students, 15% FRL); Timberline High School (math 53% / reading 74%, grade B-, #14 of 169 statewide, top 8%, 1,398 students, 10% FRL) — zoned schools average 16% FRL vs 33% district-wide (17 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising fast (+4.8%/yr); 333 active listings in the ZIP; high-income renter base; 5,129 units permitted in Ada County in 2024 (414 in 5+ unit buildings).
• Ada County population projected at +45% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 2 sale attempts since 3y ago; this cycle's ask has dropped $18k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (-3.0% appreciation + 4.8% rent growth), your $49k cash investment doubles in ~5 years — after that, you're playing with house money.
• Cap rate 12.6% 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.

Questions for listing agent

• It's been on market 63 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.
• 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.
• 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.