5117 W Marysville St

Meridian, ID 83646-7612

$424,000D

3 bd · 3.0 ba · 1,532 sqft · Built 2023 · SingleFamily · Active · 22 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,704/mo
• Mortgage (P&I): −$2,224
• Tax + insurance: −$272
• HOA: −$60
• Vac / Maint / Mgmt: −$568
• Net cashflow: $-419/mo
• Annual: $-5,032/yr
• Cap rate: 5.11%
• Cash-on-cash: -4.24%
• DSCR: 0.81
• 1% rule: 0.64%
• Cash to close: $118,720

Investor read

• This is a 3-bed/3.0-bath single-family listed at $424k.
• At list price, monthly cash flow is $-419 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $350k (17.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $270k (36.2% below list).
• It's been on market 22 days — a 2% lower offer ($418k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $270k (36.2% below list) — sets the bar for 1% rule.
• In year one you build about $16k of equity ($3k loan paydown + $13k appreciation (3.0% local appreciation)).
• Location reads 82/100 on livability (#10 in ID, #1,176 nationally) — a professional / high-income tenant draw. Strengths: crime A+, commute A+, employment A+; Watch: cost of living D+.
• 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: Pleasant View Elementary (math 67% / reading 72%, grade A-, #23 of 357 statewide, top 8%, 616 students, 7% FRL); Owyhee High School (1,773 students, 9% FRL).
• Market conditions: 1 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 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 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.
• By year 3, paydown + projected appreciation supports a ~$39k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Cap rate 5.1% vs local median 3.1% in Meridian — 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

• 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?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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?
• 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.