2523 W Idaho St
- Price$515,000
- Beds / Baths2 / 1
- Sqft924
- Built1910
- HOANone
- Avg drive12 min
- School zoneBoise
Drive times 12 min avg
- Illya's house 14 min 5.6 mi
- Jay & Debby's house 14 min 4.5 mi
- Boise High School 4 min 1.2 mi
- Idaho Fine Arts Academy 16 min 9.5 mi
Driving estimates via OSRM (free-flow, no traffic) — routes drawn on the map above. Average across 4 landmarks.
Valuation & tax history
| Year | Assessed value | Property tax |
|---|---|---|
| 2026 | $421,100 | — |
| 2025 | $427,900 | $2,791.74 |
| 2024 | $423,600 | $2,709.60 |
| 2023 | $406,000 | $2,683.34 |
| 2022 | $449,600 | $3,898.32 |
| 2021 | $344,800 | $3,768.44 |
| 2020 | $281,400 | $3,340.92 |
Idaho has no cap on assessment increases — assessed value (and therefore tax) drifts up year over year. Budget for the drift.
Run June 19, 2026 · rate 6.5% (Freddie 6.47% 6/18, Bankrate 6.48% 6/19/2026) · cash fund $105k
Price update (verified 2026-07-01): list is now $515,000 (was $535,000). The affordability math below was computed at the prior ask — re-run the eval to refresh it.
Listing facts (Zillow)
- ~$557/sqft (at the $515,000 list) · 83702 (North End)
County record — Ada County Assessor (the truth)
- List price is ~$93,900 (22%) OVER assessed value — a large premium. North End location (83702) carries a real premium, but you’re paying ~$94k over the county’s mark on a tiny lot (0.08 ac).
Up ~50% in six years (2020 $281k → 2026 $421k). North End values run high; budget for continued tax drift.
Exemption is applied in the recent bills. 2025 tax $2,791.74 on $427,900 assessed = ~0.65% effective — the exemption-adjusted rate (note the 2022→2023 drop from $3,898 to $2,683 as the resident owner’s exemption kicked in after the 2022 purchase). Gross un-exempted levy ≈ 0.92%. Eric, living here, inherits roughly the current exempted bill (~$2,800/yr ≈ ~$233/mo), no extra savings to capture. FILE FOR THE EXEMPTION after closing — it does not transfer with the sale.
Affordability — VERDICT: Hard no (fails payment AND cash)
Assumptions: 6.5% 30-yr fixed, 20% down (no PMI), effective levy ~0.92% / exempted bill ~$2,800/yr, ins ~$120/mo.
20% down (no PMI)
- 20% down = $107,000 → loan $428,000
- P&I at 6.5%: ~$2,705/mo
- Property tax (exemption applied): ~$233/mo
- Insurance: ~$120/mo (older, higher-value) · HOA $0 · PMI $0
- All-in: ~$3,058/mo → ~$558/mo OVER the $2,500 ceiling. ✗
Cash also fails. $107,000 down + ~$16,050 closing (3%) ≈ $123,050 — ~$18k OVER the $105k fund. Both binding constraints fail, and by the widest margins in the batch. To fit $2,500/mo on payment alone (tax ~$233 + ins ~$120 ⇒ P&I budget ~$2,147 ⇒ loan ~$340,000 ⇒ price ~$425k at 20% down), Idaho St would need to drop roughly $110k — not a realistic negotiation.
Flags
- Worst fit in the batch — ~$558/mo over the payment ceiling and ~$18k over the cash fund. Hard no.
- ~22% over assessed value ($515,000 vs $421,100) — paying a steep North End premium over the county’s mark.
- 1910 build, 924 sqft, 2bd/1ba — the oldest house on the board. A 115-year-old structure demands a rigorous inspection (foundation, knob-and-tube, galvanized/lead supply lines, sewer scope, seismic). ~$557/sqft.
- Tiny 0.08-acre lot — minimal land for the price; the value is almost entirely location.
- The draw is real but doesn’t change the math — North End character/walkability commands a premium, but it’s ~$110k beyond what Eric’s $2,500 / $105k parameters afford.
Bottom line
The clearest “does not fit” of the batch. At the prior $535,000 ask the 20%-down payment was ~$3,058/mo (~$558 over the $2,500 ceiling) and the cash need (~$123k) was ~$18k past the $105k fund — both fail, by the largest margins here, and the cut to $515,000 recovers only $20k of a ~$110k gap. It’s a charming 1910 North End cottage, but it’s tiny (924 sqft, single bath) on a 0.08-acre lot, priced ~22% over the county’s $421,100. Pass; this is a budget tier above Eric’s parameters.