5423 N Isla Ave · Meridian, ID 83646

$585,000

5 bd · 3.0 ba · 2,767 sqft · SingleFamily public records · 4 Days on market

Built 2009 7,405 sqft lot Est $675k · 13% under $64/mo HOA · 1% of rent

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Why this score? — see what drove the C 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 +17.5/30.0
• ARV discount +13.5/15.0
• DSCR +5.5/10.0
• Schools +5.2/10.0
• Livability +4.1/5.0
• 1% rule +3.6/10.0
• Rent growth +3.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Beautiful 5 bed, 2.5 bath home with a 3-car garage in the highly desirable Ventana community! This popular Sundance floor plan offers a great mix of space and functionality with a main-level bedroom that’s perfect for guests or a home office. The open-concept layout features a spacious living room, dining area, and a large kitchen with center island, stainless steel appliances, and plenty of room to gather. Upstairs offers 4 additional bedrooms plus a loft, ideal for a second living space, playroom, or flex area. The primary suite includes a soaker tub, dual vanities, and a walk-in closet. Secondary bedrooms are generously sized, with great storage throughout. The home has been well c

Key facts

• Main-level bedroom
• Loft
• Large kitchen

Tags

• MAIN-LEVEL BEDROOM
• OPEN-CONCEPT LAYOUT
• LARGE KITCHEN
• CENTER ISLAND
• STAINLESS STEEL APPLIANCES
• LOFT

Property features AI

Finance

• HOA & community: Association fee required — $383.25 semi-annually; Community pool (HOA amenity)

Exterior

• Parking: Attached garage with 3 covered spaces; Finished driveway; Total parking for 3 vehicles
• Utilities: City water service; Sewer connected; Natural gas available
• Home design: Single-family residence; Built in 2009; Frame construction with wood siding; Composition roof; Public road with paved frontage; Standard residential lot (6000–9999 SF)
• Construction: Built in 2009; Frame construction with wood siding; Composition roof
• Exterior features: Wood full fencing; Auto sprinkler system / irrigation available; Community pool

Interior

• Kitchen: Kitchen on main level; Kitchen island; Pantry; Breakfast bar; Dishwasher; Disposal; Microwave; Freestanding oven/range
• Bedrooms: 5 bedrooms — primary and four bedrooms upstairs; one bedroom on the main level
• Flooring: Carpet
• Bathrooms: 3 bathrooms
• Heating & cooling: Forced air heating (natural gas); No central cooling listed
• Interior features: Master bathroom; Walk-in closets; Breakfast bar; Pantry; Kitchen island; Gas fireplace
• Laundry & utility: Utility room on main level (approx. 11 x 6); Gas water heater

What this means for you Summary

Snapshot

• This is a 5-bed/3.0-bath single-family listed at $585k.

Deal economics

• At list price, monthly cash flow is $449 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $503k (14.0% below list).
• Recommended offer: $503k (14.0% below list) — sets the bar for 1% rule.
• Cap rate 7.2% 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.

Location & tenants

• 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: Prospect Elementary School (math 63% / reading 60%, grade B, #68 of 357 statewide, top 19%, 532 students, 15% FRL); Rocky Mountain High School (math 47% / reading 76%, grade B-, #18 of 169 statewide, top 10%, 1,917 students, 8% FRL).
• Market conditions: Rents rising fast (+4.2%/yr); 893 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 12d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 5,129 units permitted in Ada County in 2024 (414 in 5+ unit buildings).
• At $5,033/mo this rent would consume 59% of the median local household income ($103k/yr) (locally 1017% 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 $18k 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.
• 8 sale attempts since 17y 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.
• Current owner paid $269k; list at $585k implies a 118% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $503,251 (14.0% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 0.86% ✗
• Cap rate: 7.21%
• Cash-on-cash: 3.29%
• DSCR: 1.15
• GRM: 9.7

CMA / ARV

• ARV (on-the-fly): $675,148
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5423 N Isla Ave	0.00mi	5/2.5	2,767 (0%)	1mo	$585,000	$211	97
5363 N Red Hills Pl	0.24mi	4/3.0 (-1)	2,686 (-3%)	2mo	$724,900	$270	78
432 W Broderick	0.47mi	4/2.5 (-1)	2,740 (-1%)	0mo	$749,900	$274	69
891 E Silver Torch St	0.46mi	5/2.5	2,895 (+5%)	2mo	$699,000	$241	67
5455 Peppard Ave	0.23mi	4/2.5 (-1)	2,524 (-9%)	1mo	$649,900	$257	67
834 W Crosby Dr	0.67mi	4/3.0 (-1)	2,746 (-1%)	1mo	$750,000	$273	62
4481 N Diamond Crk	0.59mi	4/2.5 (-1)	2,826 (+2%)	1mo	$635,000	$225	61
489 W Dreyfuss St	0.48mi	4/3.0 (-1)	2,965 (+7%)	1mo	$707,700	$239	60
5832 N Claret Cup Way	0.29mi	4/2.0 (-1)	2,439 (-12%)	1mo	$725,000	$297	57
514 W Black Rock Dr	0.70mi	4/2.5 (-1)	2,937 (+6%)	1mo	$639,900	$218	49
815 W Arnaz	0.64mi	5/2.5	3,093 (+12%)	0mo	$749,000	$242	48
4364 N Portage Ave	0.75mi	4/3.0 (-1)	2,373 (-14%)	0mo	$579,900	$244	36

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 · 4.21% rent growth · sell at horizon

5-year hold

• IRR: -10.0%
• Equity multiple: 0.63×
• Total profit: $-60,218
• Equity at exit: $87,225

10-year hold

• IRR: 0.8%
• Equity multiple: 1.06×
• Total profit: $9,512
• Equity at exit: $50,580

Cash invested: $163,800 (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 83646

• Home prices YoY: -33.6%
• Rents YoY: 4.2%
• Active inventory: 893
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $5,033 medium
• Mortgage (P&I): −$3,068
• Tax from tax record: −$151 /mo · $1,810/yr
• Insurance: −$244
• HOA: −$64
• Vacancy / Maint / Mgmt: −$1,057
• Net cashflow: $449

Break-even live

Break-even rent $4,464

Max offer price $585,000

Occupancy floor 86%

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: $146,250
• Closing costs: $17,550
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5327 N Red Hills Pl Unit 1460932P Meridian, ID	5.0	2.5	3390	$7,384	$2.18	14d	1	0.29mi
236 W Wausau St Meridian, ID	4.0	2.5	2692	$2,795	$1.04	11d	1	0.75mi
1781 W Milazzo St Meridian, ID	4.0	2.5	2501	$3,100	$1.24	3d	1	1.35mi

HOA detail

• Monthly dues: $64 · $768/yr

Listing history 17 events

1. 2026-05-28
   price $585,000
2. 2026-05-04
   status Pending
3. 2026-04-30
   listed $579,000 Active
4. 2025-06-23
   historical
5. 2025-05-31
   price $574,900
6. 2025-05-16
   listed $585,000 Active
7. 2021-10-01
   historical
8. 2021-09-18
   listed $594,500 Active
9. 2018-04-05
   soldstatus $268,750
10. 2018-04-04
    soldstatus Sold
11. 2018-03-06
    status Pending
12. 2018-03-03
    listed $309,990 Active
13. 2011-12-30
    soldstatus
14. 2011-09-29
    listed $185,990
15. 2011-02-22
    listed $185,990
16. 2010-10-26
    listed $174,686
17. 2009-05-18
    listed $189,686

ⓘ 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: $1,810 · $151/mo
• Projected year-2 tax: $4,036 · $336/mo
• Expected delta: +$2,227/yr (+$186/mo · 123.1%)

ⓘ 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 5/10 Major
• 🌡 Heat 5/10 Major 7 d/yr ≥97°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 9/10 Extreme 19 unhealthy d/yr today · 20 by 30 yrs out

Taxation est. · year 1

• Rental income: $60,390
• − Mortgage interest: −$32,769
• − Property taxes: −$1,810
• − Insurance: −$2,925
• − Repairs & maintenance: −$4,831
• − Management: −$4,831
• − HOA: −$768
• − Depreciation: −$17,018
• Taxable loss: −$4,562
• Est. tax savings @ 24.0%: +$1,095
• After-tax cash flow: $6,487/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 — Meridian

• Score: 82/100
• State rank: #10
• US rank: #1176

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Meridian, ID
• County: Ada County · 522,161 people
• City population: 138,302
• Metro: Boise City, ID
• Population (ZIP): 76,023
• Household income: $102,861
• Rent vs Own: 19.8% rent · 80.2% own
• Severe rent burden: 1017.0

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 (81%)
• Race & ethnicity: White 81% Two or more races 10% Hispanic / Latino 9% Black 2% Asian 2%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Italian 3% Portuguese 3% Slovak 2%
• Foreign-born: 4% · Canada
• Languages at home: 93% English-only · Spanish 3% Russian/Polish/Slavic 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: ▼ -161.13%
• Current HPI: 318.2697
• Rent YoY: ▲ 4.21%
• 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

+208.4% since first listed

17 events — show timeline

• 2026-05-28 Price Changed $585,000 IMLS
• 2026-05-04 Pending — IMLS
• 2026-04-30 Listed $579,000 IMLS
• 2025-06-23 Listing Removed — IMLS
• 2025-05-31 Price Changed $574,900 IMLS
• 2025-05-16 Listed $585,000 IMLS
• 2021-10-01 Listing Removed — IMLS
• 2021-09-18 Listed $594,500 IMLS
• 2018-04-05 Sold (Public Records) $268,750 Public Records
• 2018-04-04 Sold (MLS) — IMLS
• 2018-03-06 Pending — IMLS
• 2018-03-03 Listed $309,990 IMLS
• 2011-12-30 Sold (Public Records) — Public Records
• 2011-09-29 Listed $185,990 IMLS
• 2011-02-22 Listed $185,990 IMLS
• 2010-10-26 Listed $174,686 IMLS
• 2009-05-18 Listed $189,686 IMLS

Property tax history

-4.0%/yr

Latest (2025): $1,810 · -3.9% YoY. Source: county tax records.