2372 Blue Sage Lane #87 Ln · Boise City, ID 83716

$120,000

3 bd · 2.0 ba · 924 sqft · Manufactured · 141 Days on market

Built 1985 $660/mo HOA · 27% of rent

---

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 +7.5/15.0
• Schools +4.2/10.0
• Rent growth +3.7/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Well maintained single-wide manufactured home located on Lake Patricia in Blue Valley Lakeside Community! This very affordable home is conveniently located in Southeast Boise and provides easy access to I-84, Boise Airport, downtown Boise, shopping and is just 5 miles to Lucky Peak Reservoir. This home has two covered porches and an open living/kitchen area making it great for hosting friends and family while enjoining the views of Lake Patricia. This home also has built-in cabinets and plenty of storage and an alarm system. Lot rent is $750 plus $65 for water and sewer. Contact [email protected]. Must be pre-approved by park prior to seller accepting an offer.

Key facts

• Plenty of storage
• Built-in cabinets
• Alarm system

Tags

• BLUE VALLEY LAKESIDE COMMUNITY
• TWO COVERED PORCHES
• OPEN LIVING KITCHEN AREA
• BUILT-IN CABINETS
• PLENTY OF STORAGE
• ALARM SYSTEM

Property features AI

Finance

• Other:
• Financial info:
• HOA & community: Monthly association fee (approximately $660/month)

Exterior

• Parking:
• Security:
• Utilities: Community water service
• Home design: Mobile/manufactured home on a rented lot; Built in 1985
• Construction: Composition roof
• Exterior features: Vinyl fencing; Covered patio/deck; Composition roof; Located in a mobile home park; Private road frontage

Interior

• Kitchen: Pantry; Breakfast bar; Tile counters; Dishwasher; Disposal; Microwave; Freestanding oven/range; Refrigerator
• Bedrooms: 3 bedrooms, all on the main level
• Flooring: Carpet; Laminate
• Bathrooms: 2 bathrooms
• Heating & cooling: Heat pump heating; Central air conditioning
• Interior features: Primary bedroom with en-suite bath; Split bedroom floorplan; Walk-in closet(s); Breakfast bar; Pantry; Tile counters
• Laundry & utility: Washer; Dryer; Utility room on the main level; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $120k.

Deal economics

• At list price, monthly cash flow is $458 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Recommended offer: $106k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.9% 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: Timberline High School (math 53% / reading 74%, grade B-, #14 of 169 statewide, top 8%, 1,398 students, 10% FRL) — zoned schools average 10% FRL vs 33% district-wide (24 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 64% at this address vs 49% district-wide (+14 pts) — the actual schools serving this property are materially stronger than the Boise Independent District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising fast (+4.8%/yr); 328 active listings in the ZIP; 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 $830 of loan paydown is wiped out by about $4k 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 + 4.8% rent growth), your $34k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 141 days — a 12% lower offer ($106k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 8y ago; this cycle's ask has dropped $20k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 27% of rent.

Recommended offer $105,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 141 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 2.05% ✓
• Cap rate: 10.88%
• Cash-on-cash: 16.37%
• DSCR: 1.73
• GRM: 4.1

CMA / ARV

• ARV (on-the-fly): $60,984
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2155 Blue Sage Ln	0.13mi	3/1.0	1,057 (+14%)	11mo	$70,000	$66	56

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 · 4.78% rent growth · sell at horizon

5-year hold

• IRR: 10.7%
• Equity multiple: 1.44×
• Total profit: $14,685
• Equity at exit: $17,892

10-year hold

• IRR: 21.9%
• Equity multiple: 3.12×
• Total profit: $71,300
• Equity at exit: $10,375

Cash invested: $33,600 (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 83716

• Home prices YoY: -22.8%
• Rents YoY: 4.8%
• Active inventory: 328
• Price-to-rent: 4.1×

Monthly cashflow live

• Estimated rent: $2,465 medium
• Mortgage (P&I): −$629
• Tax est. 1.5%: −$150 /mo · $1,800/yr
• Insurance: −$50
• HOA: −$660
• Vacancy / Maint / Mgmt: −$518
• Net cashflow: $458

Break-even live

Break-even rent $1,885

Max offer price $120,000

Occupancy floor 76%

Sensitivity live

Price	-10% $541	-5% $500	+0% $458	+5% $417	+10% $375
Rent	-10% $264	-5% $361	+0% $458	+5% $556	+10% $653
Rate	-1.0pp $519	-0.5pp $489	base $458	+0.5pp $427	+1.0pp $396

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $660 · $7,920/yr
• Likely covers: watersewer

Listing history 26 events

1. 2026-06-18
   days on market $120,000 Active 141 DOM
2. 2026-06-17
   days on market $120,000 Active 140 DOM
3. 2026-06-16
   days on market $120,000 Active 139 DOM
4. 2026-06-15
   days on market $120,000 Active 138 DOM
5. 2026-06-13
   days on market $120,000 Active 136 DOM
6. 2026-06-10
   days on market $120,000 Active 133 DOM
7. 2026-06-09
   days on market $120,000 Active 132 DOM
8. 2026-06-08
   days on market $120,000 Active 131 DOM
9. 2026-06-07
   days on market $120,000 Active 130 DOM
10. 2026-06-05
    days on market $120,000 Active 127 DOM
11. 2026-06-03
    days on market $120,000 Active 126 DOM
12. 2026-06-03
    days on market $120,000 Active 125 DOM
13. 2026-06-01
    days on market $120,000 Active 124 DOM
14. 2026-05-31
    days on market $120,000 Active 123 DOM
15. 2026-03-02
    price $120,000
16. 2026-01-28
    listed $140,000 Active
17. 2020-09-29
    price $76,825
18. 2020-09-06
    status Pending
19. 2020-08-11
    listed $80,000 Active
20. 2018-03-21
    soldstatus Sold
21. 2018-02-28
    historical
22. 2018-02-16
    status Pending
23. 2018-02-07
    price $42,000
24. 2018-02-01
    status Active
25. 2018-01-30
    status Pending
26. 2018-01-09
    listed $43,000 Active

ⓘ 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: $29,585
• − Mortgage interest: −$6,722
• − Property taxes: −$1,800
• − Insurance: −$600
• − Repairs & maintenance: −$2,367
• − Management: −$2,367
• − HOA: −$7,920
• − Depreciation: −$3,491
• Taxable income: $4,318
• Est. tax owed @ 24.0%: −$1,036
• After-tax cash flow: $4,464/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): 21,402
• Household income: $128,822
• Rent vs Own: 21.2% rent · 78.8% own
• Severe rent burden: 408.0

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 (77%)
• Race & ethnicity: White 77% Asian 9% Two or more races 7% Hispanic / Latino 6%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Italian 6% Portuguese 2% Slovak 2%
• Foreign-born: 11% · Canada, China, South Korea
• Languages at home: 87% English-only · Spanish 4% Chinese 2% Other Asian/Pacific 2%

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: ▼ -97.80%
• Current HPI: 332.0696
• Rent YoY: ▲ 4.78%
• 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

+179.1% since first listed

12 events — show timeline

• 2026-03-02 Price Changed $120,000 IMLS
• 2026-01-28 Listed $140,000 IMLS
• 2020-09-29 Price Changed $76,825 IMLS
• 2020-09-06 Pending — IMLS
• 2020-08-11 Listed $80,000 IMLS
• 2018-03-21 Sold (MLS) — IMLS
• 2018-02-28 Listing Removed — IMLS
• 2018-02-16 Pending — IMLS
• 2018-02-07 Price Changed $42,000 IMLS
• 2018-02-01 Relisted — IMLS
• 2018-01-30 Pending — IMLS
• 2018-01-09 Listed $43,000 IMLS