5228 E Phelps Lake Dr · Nampa, ID 83687

$539,990

4 bd · 2.5 ba · 2,332 sqft · SingleFamily · 52 Days on market

Built 2026 Good condition 0.26 ac lot Est $534k · at est. $54/mo HOA · 1% 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 +11.0/30.0
• ARV discount +7.0/15.0
• Condition / age +4.0/5.0
• Schools +3.8/10.0
• Livability +3.6/5.0
• Rent growth +3.4/5.0
• 1% rule +3.3/10.0
• DSCR +3.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Unlock your $25K now through May 31! Ask a Sales Specialist for details. This new home located in beautiful Nampa, Idaho has all the comforts you need & more! The Lennox 2332 invites you into a beautifully balanced two-story design where comfort and style come together effortlessly, offering an upstairs retreat with the primary suite, three additional bedrooms, and a bright loft that feels like a private escape at the end of the day. The main level opens into a spacious living, dining, and kitchen area that flows seamlessly, complemented by a generous flex room perfect for an office, library, or creative space. The kitchen boasts upgraded finishes, including stainless steel appliances, a gas range, and stylish solid surface countertops. Easy access to the patio enhances indoor-outdoor enjoyment, creating the ideal setting for relaxing or entertaining. A thoughtfully designed laundry area adds even more convenience, while modern finishes throughout bring a refined touch to every corner. With its intentional layout and inviting atmosphere, the Lennox 2332 delivers a home that feels both sophisticated and effortlessly livable. Photos are of the actual home!

Key facts

• 0.26 acre lot
• 3 garage spots
• Built 2026

Property features AI

Finance

• Other: Property subtype: Single Family Residence
• HOA & community: Homeowners association with annual fee of $650; Subdivision: Spring Hollow Ranch

Exterior

• Parking: Attached garage with 3 covered spaces (3 total parking spaces)
• Utilities: City water service; Sewer connected; Utilities connected
• Home design: Single family residence; New construction; Builder: CBH Homes; Facing and stories not specified
• Construction: Built in 2026; Frame construction with HardiPlank-type siding; Composition roof
• Exterior features: Partial fencing; Sidewalks; Irrigation available with auto/pressurized sprinkler system

Interior

• Kitchen: Kitchen on main level (approx. 9 x 14); Kitchen island; Pantry; Dishwasher; Disposal; Microwave; Freestanding oven/range; Gas range; Solid surface counters; Breakfast bar
• Bedrooms: 4 bedrooms — all located on the upper level (master ~14 x 14; other bedrooms ~10 x 10, 10 x 11, 10 x 11)
• Flooring: Carpet; Engineered vinyl plank
• Bathrooms: 3 bathrooms
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Master bathroom with bath in master bedroom; Split-bedroom layout; Family room; Great room; Double vanity; Walk-in closet(s); Loft; Breakfast bar; Pantry; Kitchen island; Solid surface counters
• Laundry & utility: Utility room on upper level; Gas water heater

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $540k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-231 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $507k (6.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $450k (16.7% below list).
• Recommended offer: $450k (16.7% below list) — sets the bar for 1% rule.
• Cap rate 5.8% vs local median 3.2% in Nampa — 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 72/100 on livability (#47 in ID) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living A-; Watch: employment C-, amenities F, commute F.
• Vallivue School District (rural): math 34% / reading 56% proficiency, ranked #48 of 92 in ID (top 52%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: East Canyon Elementary School (math 34% / reading 44%, grade F, #247 of 357 statewide, top 70%, 692 students, 33% FRL); Ridgevue High School (math 27% / reading 67%, grade D-, #55 of 169 statewide, top 34%, 1,578 students, 31% FRL) — zoned schools average 32% FRL vs 52% district-wide (20 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising (+3.4%/yr); 631 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals leasing fast (median 12d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 3,620 units permitted in Canyon County in 2024 (196 in 5+ unit buildings).
• At $4,499/mo this rent would consume 70% of the median local household income ($77k/yr) (locally 683% 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 $4k of loan paydown is wiped out by about $16k of value loss. Plan a longer hold.
• Canyon County population projected at +41% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 52 days — a 3% lower offer ($524k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Recommended offer $449,913 (16.7% 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. It's been on market 52 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. 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?
7. 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.
8. 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.
9. 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: 0.83% ✗
• Cap rate: 5.78%
• Cash-on-cash: -1.84%
• DSCR: 0.92
• GRM: 10.0

CMA / ARV

• ARV (on-the-fly): $534,028
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5256 E Phelps Lake Dr	0.03mi	4/2.5	2,054 (-12%)	0mo	$469,990	$229	78
5214 E Phelps Lake Dr	0.01mi	4/2.0	2,025 (-13%)	0mo	$459,990	$227	75
17662 N Boone Peak Ave	0.18mi	4/2.0	2,539 (+9%)	1mo	$554,990	$219	74
17749 N Hugh Glass Way	0.08mi	4/2.5	2,626 (+13%)	2mo	$544,990	$208	74
17776 N Hugh Glass Way	0.08mi	5/3.0 (+1)	2,530 (+8%)	2mo	$534,990	$211	74
5200 E Phelps Lake Dr	0.03mi	4/2.0	2,023 (-13%)	1mo	$479,990	$237	74
17635 N Boone Peak Ave	0.17mi	4/2.5	2,054 (-12%)	2mo	$469,990	$229	71
17649 N Boone Peak Ave	0.16mi	5/3.0 (+1)	2,530 (+8%)	1mo	$530,990	$210	71
5030 E Open Canyon Dr	0.14mi	4/2.0	2,023 (-13%)	1mo	$469,990	$232	69
5552 E Garby St Lot 14 Block 7	0.51mi	4/3.0	2,258 (-3%)	1mo	$549,990	$244	68
5086 E Open Canyon Dr	0.09mi	5/3.0 (+1)	2,636 (+13%)	0mo	$539,990	$205	67
5576 E Garby St Lot 12 Block 7	0.51mi	4/2.0	2,046 (-12%)	1mo	$533,601	$261	53

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 · 3.44% rent growth · sell at horizon

5-year hold

• IRR: -18.8%
• Equity multiple: 0.34×
• Total profit: $-100,140
• Equity at exit: $80,514

10-year hold

• IRR: -10.4%
• Equity multiple: 0.36×
• Total profit: $-97,488
• Equity at exit: $46,688

Cash invested: $151,197 (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 83687

• Home prices YoY: -21.0%
• Rents YoY: 3.4%
• Active inventory: 631
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $4,499 high
• Mortgage (P&I): −$2,832
• Tax est. 1.5%: −$675 /mo · $8,100/yr
• Insurance: −$225
• HOA: −$54
• Vacancy / Maint / Mgmt: −$945
• Net cashflow: $-231

Break-even live

Break-even rent $4,792

Max offer price $506,501

Occupancy floor —

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: $134,998
• Closing costs: $16,200
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5126 E Sylvan Hart Dr Unit 1322143P Nampa, ID	5.0	2.5	2992	$6,692	$2.24	14d	1	0.07mi
5553 E Bollo St Unit 1322139P Nampa, ID	3.0	2.5	1991	$3,376	$1.70	12d	1	0.78mi
5643 E Bollo St Unit 1250641P Nampa, ID	3.0	2.5	1797	$3,396	$1.89	12d	1	0.82mi
16852 Idaho Center Blvd Nampa, ID	3.0	2.5	1558	$1,762	$1.13	3d	3	1.10mi
7003 W Redwood Creek Dr Meridian, ID	4.0	2.0	2025	$2,650	$1.31	14d	1	1.21mi
6960 W Redwood Creek Dr Unit 1250677P Meridian, ID	5.0	2.5	2798	$6,915	$2.47	14d	1	1.25mi
6670 W Yoke St Meridian, ID	3.0	2.0	1903	$2,500	$1.31	23d	1	1.28mi
4289 N Glassford Ave Unit 1250678P Meridian, ID	4.0	2.0	2195	$5,366	$2.44	12d	1	1.32mi
6643 W Redwood Creek Dr Meridian, ID	3.0	2.0	1694	$2,350	$1.39	3d	1	1.36mi

HOA detail

• Monthly dues: $54 · $648/yr
• Likely covers: gas

Listing history 16 events

1. 2026-06-18
   days on market $539,990 Active 52 DOM
2. 2026-06-17
   days on market $539,990 Active 51 DOM
3. 2026-06-16
   days on market $539,990 Active 50 DOM
4. 2026-06-15
   days on market $539,990 Active 49 DOM
5. 2026-06-13
   days on market $539,990 Active 47 DOM
6. 2026-06-13
   days on market $539,990 Active 46 DOM
7. 2026-06-10
   days on market $539,990 Active 44 DOM
8. 2026-06-09
   days on market $539,990 Active 43 DOM
9. 2026-06-08
   days on market $539,990 Active 42 DOM
10. 2026-06-07
    days on market $539,990 Active 41 DOM
11. 2026-06-03
    days on market $539,990 Active 37 DOM
12. 2026-06-03
    days on market $539,990 Active 36 DOM
13. 2026-06-01
    days on market $539,990 Active 35 DOM
14. 2026-05-31
    days on market $539,990 Active 34 DOM
15. 2026-04-28
    listed $539,990 Active 1178-char remark

    Show marketing remark (1178 chars)

    Unlock your $25K now through May 31! Ask a Sales Specialist for details. This new home located in beautiful Nampa, Idaho has all the comforts you need & more! The Lennox 2332 invites you into a beautifully balanced two-story design where comfort and style come together effortlessly, offering an upstairs retreat with the primary suite, three additional bedrooms, and a bright loft that feels like a private escape at the end of the day. The main level opens into a spacious living, dining, and kitchen area that flows seamlessly, complemented by a generous flex room perfect for an office, library, or creative space. The kitchen boasts upgraded finishes, including stainless steel appliances, a gas range, and stylish solid surface countertops. Easy access to the patio enhances indoor-outdoor enjoyment, creating the ideal setting for relaxing or entertaining. A thoughtfully designed laundry area adds even more convenience, while modern finishes throughout bring a refined touch to every corner. With its intentional layout and inviting atmosphere, the Lennox 2332 delivers a home that feels both sophisticated and effortlessly livable. Photos are of the actual home!

16. 2026-04-27
    listed $539,990 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 ≥97°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 8/10 Severe 12 unhealthy d/yr today · 18 by 30 yrs out

Taxation est. · year 1

• Rental income: $53,990
• − Mortgage interest: −$30,248
• − Property taxes: −$8,100
• − Insurance: −$2,700
• − Repairs & maintenance: −$4,319
• − Management: −$4,319
• − HOA: −$648
• − Depreciation: −$15,709
• Taxable loss: −$12,053
• Est. tax savings @ 24.0%: +$2,893
• After-tax cash flow: $116/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 · 2 photos

Good 80/100 Cosmetic rehab

This home is in good condition with a good exterior and interior. It has a good roof and flooring. The home is move-in ready with minor cosmetic updates needed for the exterior siding and gutters.

Value-add opportunities

• Both Paint exterior siding — Fresh paint can improve curb appeal and home value
• Both Clean gutters — Clean gutters improve drainage and prevent water damage

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior siding — Fresh paint can improve curb appeal and home value ↑
• Both Clean gutters — Clean gutters improve drainage and prevent water damage ↑

ⓘ 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: Vallivue School District
• NCES district ID: 1600600
• Math proficiency: 34% ▼ -9.00%
• Reading proficiency: 56% ▼ -1.00%
• Median HH income: $47,377
• Composite: 38.3/100
• National rank: #4229
• State rank: #48 of 92 in ID

Livability — Nampa

• Score: 72/100
• State rank: #47
• US rank: #6250

Category grades

Amenities F Commute F Cost of living A- Crime B- Employment C- Housing A+ Health & safety A+ User ratings C

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Nampa, ID
• County: Canyon County · 235,358 people
• City population: 142,249
• Metro: Boise City, ID
• Population (ZIP): 43,135
• Household income: $76,682
• Rent vs Own: 27.7% rent · 72.3% own
• Severe rent burden: 683.0

Population outlook (Canyon County) Hauer SSP2

• Today (2025): 248,853 people
• By 2030: 269,596 · +8.3%
• By 2040: 311,081 · +25.0%
• By 2050: 350,809 · +41.0%
• By 2075: 441,884 · +77.6%
• By 2100: 505,641 · +103.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (71%)
• Race & ethnicity: White 71% Hispanic / Latino 21% Two or more races 11% Black 2% Native American 1%
• Hispanic origin (detail): Mexican 18%
• Common ancestry: Italian 4% Slovak 3% Lithuanian 2%
• Foreign-born: 7% · Canada
• Languages at home: 85% English-only · Spanish 12% Russian/Polish/Slavic 1%

Political lean MEDSL · Canyon

• 2024 margin: Solid R (+46.6) · D 25.4% · R 72.0% · Other 2.5%
• 2008→2024 swing: -11.4pp toward R · 2008: -35.2pp · 2024: -46.6pp
• All cycles: 2024: R+46.6 2020: R+39.7 2016: R+41.8 2012: R+37.1 2008: R+35.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -103.50%
• Current HPI: 388.8148
• Rent YoY: ▲ 3.44%
• 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

+0.0% since first listed

2 events — show timeline

• 2026-04-28 Listed $539,990 Zillow
• 2026-04-27 Listed $539,990 IMLS