8196 W Grubstake St · Boise City, ID 83709

$515,000

4 bd · 3.0 ba · 2,646 sqft · SingleFamily public records · 4 Days on market

Built 2008 6,621 sqft lot Est $691k · 25% under $25/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).

• ARV discount +15.0/15.0
• Cash flow +12.1/30.0
• Schools +5.2/10.0
• DSCR +3.6/10.0
• Rent growth +3.6/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks

Spacious Boise home offering room to live, relax, and entertain! This expansive layout features a formal living room, cozy family room, and an upstairs bonus space—perfect for a media room, playroom, or additional living area. With four generously sized bedrooms and 2.5 baths, there is plenty of space for everyone. Fresh updates include brand new carpet, interior paint, modern lighting, and a beautifully remodeled kitchen featuring granite countertops, a statement full-wall tile backsplash, and brand new stainless steel appliances. Abundant cabinetry, a convenient breakfast bar, and a unique built-in office nook make the kitchen both functional and stylish. Retreat to the oversized pr

Key facts

• Soaking garden tub
• Cozy family room
• Formal living room

Tags

• FORMAL LIVING ROOM
• COZY FAMILY ROOM
• UPSTAIRS BONUS SPACE
• BUILT-IN OFFICE NOOK
• OVERSIZED PRIMARY SUITE
• SOAKING GARDEN TUB

Property features AI

Finance

• Other: Subdivision: Bridgeview; Located in Boise SW-Meridian area; Public road frontage
• HOA & community: Homeowners association with an annual fee of $299.50

Exterior

• Parking: Attached 2-car garage; Finished driveway; 2 covered parking spaces (total 2 spaces)
• Utilities: City water; Sewer connected; Cable connected; Broadband internet
• Home design: Single family residence; Built in 2008
• Construction: Vinyl siding; Composition roof; Crawl space foundation
• Exterior features: Full fencing (vinyl and wood); Garden; Sidewalks; Automatic full sprinkler system

Interior

• Kitchen: Kitchen on main level (approx. 15 x 10); Dishwasher; Disposal; Microwave; Freestanding oven/range; Pantry; Breakfast bar; Laminate counters
• Bedrooms: 4 bedrooms (all on the upper level); Primary suite approx. 17 x 14; Bedroom 2 approx. 18 x 18; Bedroom 3 approx. 17 x 10; Bedroom 4 approx. 12 x 10
• Flooring: Carpet; Vinyl sheet
• Bathrooms: 3 bathrooms
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Primary bedroom with private bath; Recreation/bonus room; Walk-in closets; Breakfast bar; Pantry; Laminate counters
• Laundry & utility: Utility room on upper level (approx. 7 x 4); Gas water heater; Tank water heater

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath single-family listed at $515k.

Deal economics

• At list price, monthly cash flow is $-109 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $496k (3.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $375k (27.2% below list).
• Recommended offer: $375k (27.2% below list) — sets the bar for 1% rule.
• Cap rate 6.0% 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 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: Silver Sage Elementary School (math 42% / reading 47%, grade F, #199 of 357 statewide, top 59%, 329 students, 45% FRL); Mountain View High School (math 42% / reading 72%, grade C, #21 of 169 statewide, top 13%, 2,462 students, 16% FRL).
• Market conditions: Rents rising fast (+4.3%/yr); 303 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 5,129 units permitted in Ada County in 2024 (414 in 5+ unit buildings).
• At $3,750/mo this rent would consume 49% 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 $4k of loan paydown is wiped out by about $15k 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

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 18y 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 wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $375,022 (27.2% 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 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: 0.73% ✗
• Cap rate: 6.04%
• Cash-on-cash: -0.90%
• DSCR: 0.96
• GRM: 11.4

CMA / ARV

• ARV (on-the-fly): $690,606
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8789 W Wall Dr	0.41mi	4/3.0	2,596 (-2%)	8mo	$599,900	$231	71
8324 W Thunder Mtn	0.26mi	4/3.0	2,907 (+10%)	4mo	$759,900	$261	68
8144 W Saddlehorn	0.15mi	5/2.5 (+1)	2,768 (+5%)	12mo	$519,900	$188	68
7913 W War Bonnet Dr	0.21mi	3/3.0 (-1)	2,459 (-7%)	11mo	$650,000	$264	64
7956 W Thunder Mountain Dr	0.24mi	4/3.0	2,334 (-12%)	9mo	$599,900	$257	61
8582 W Thunder Mountain Dr	0.38mi	4/2.0	2,500 (-6%)	10mo	$749,900	$300	60
9105 W Aquarius St	0.74mi	4/3.0	2,764 (+4%)	1mo	$850,000	$308	57
3614 S Creekwood Way	0.72mi	4/2.5	2,498 (-6%)	0mo	$599,990	$240	55
3720 S Creekwood Way	0.70mi	4/2.0	2,577 (-3%)	10mo	$514,000	$199	51
4000 S Cole Rd	0.66mi	5/3.0 (+1)	2,485 (-6%)	4mo	$659,900	$266	51
5401 S Latigo	0.53mi	4/3.0	2,352 (-11%)	14mo	$599,000	$255	44
8371 Stetson	0.43mi	3/2.0 (-1)	2,316 (-12%)	10mo	$695,000	$300	42

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: -16.6%
• Equity multiple: 0.40×
• Total profit: $-85,801
• Equity at exit: $76,788

10-year hold

• IRR: -6.7%
• Equity multiple: 0.55×
• Total profit: $-64,344
• Equity at exit: $44,528

Cash invested: $144,200 (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 83709

• Rents YoY: 4.3%
• Active inventory: 303
• Price-to-rent: 11.4×

Monthly cashflow live

• Estimated rent: $3,750 medium
• Mortgage (P&I): −$2,701
• Tax from tax record: −$131 /mo · $1,572/yr
• Insurance: −$215
• HOA: −$25
• Vacancy / Maint / Mgmt: −$788
• Net cashflow: $-109

Break-even live

Break-even rent $3,888

Max offer price $495,807

Occupancy floor 98%

Sensitivity live

Price	-10% $183	-5% $37	+0% $-109	+5% $-254	+10% $-400
Rent	-10% $-405	-5% $-257	+0% $-109	+5% $39	+10% $188
Rate	-1.0pp $151	-0.5pp $22	base $-109	+0.5pp $-242	+1.0pp $-378

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: $128,750
• Closing costs: $15,450
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9459 W Weir Hollis Dr Boise, ID	3.0	2.5	2064	$2,395	$1.16	24d	1	1.33mi
10053 W Lyrical Dr Unit 1470095P Boise, ID	4.0	2.5	2992	$6,264	$2.09	15d	1	1.47mi

HOA detail

• Monthly dues: $25 · $300/yr

Listing history 3 events

1. 2026-06-07
   statusdays on market $515,000 Pending 4 DOM
2. 2026-06-03
   remarks 693-char remark
3. 2026-06-03
   listed $515,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast ID · Resets to sale price

• Current annual tax: $1,572 · $131/mo
• Projected year-2 tax: $3,554 · $296/mo
• Expected delta: +$1,981/yr (+$165/mo · 126.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% 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 8/10 Severe 14 unhealthy d/yr today · 19 by 30 yrs out

Taxation est. · year 1

• Rental income: $45,003
• − Mortgage interest: −$28,848
• − Property taxes: −$1,572
• − Insurance: −$2,575
• − Repairs & maintenance: −$3,600
• − Management: −$3,600
• − HOA: −$300
• − Depreciation: −$14,982
• Taxable loss: −$10,475
• Est. tax savings @ 24.0%: +$2,514
• After-tax cash flow: $1,210/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: 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

+204.8% since first listed

9 events — show timeline

• 2026-06-02 Listed $515,000 IMLS
• 2026-04-22 Listing Removed — IMLS
• 2026-04-17 Relisted — IMLS
• 2026-04-14 Pending — IMLS
• 2026-03-13 Listed $499,900 IMLS
• 2024-12-30 Sold (Public Records) — Public Records
• 2024-12-30 Sold (Public Records) — Public Records
• 2009-09-01 Sold (Public Records) — Public Records
• 2008-08-19 Listed $168,990 IMLS

Property tax history

+0.2%/yr

Latest (2025): $1,572 · +6.2% YoY. Source: county tax records.