1485 E Independence St
- Price$399,900
- Beds / Baths3 / 1
- Sqft1,040
- Lot7,187 sqft (0.165 ac)
- Built1977
- HOANone
- Avg drive21 min
- School zoneBoise
Drive times 21 min avg
- Illya's house 24 min 12.7 mi
- Jay & Debby's house 26 min 9.7 mi
- Boise High School 12 min 4.8 mi
- Idaho Fine Arts Academy 22 min 13.4 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 | $395,400 | — |
| 2025 | $382,200 | $2,380.54 |
| 2024 | $367,500 | $2,208.52 |
| 2023 | $338,500 | $2,046.76 |
| 2022 | $411,300 | $2,490.44 |
| 2021 | $322,500 | $2,166.54 |
| 2020 | $249,700 | $1,782.34 |
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
Listing facts (Zillow)
- ~$385/sqft
- SE Boise corner lot, one block from Liberty Elementary & Helen B. Lowder Park. Listing openly calls it a “FIXER UPPER — bring your vision” (fresh paint, new flooring, landscaping needed). Zestimate $387,200. 21 photos.
County record — Ada County Assessor (the truth)
- List price is ~$4,500 (1%) BELOW assessed value — essentially priced AT the county number; the tightest list-vs-assessed gap in the batch alongside being the cheapest list. Good pricing signal.
Exemption already applied. 2025 bill $2,380.54 ≈ ($382,200 − $125k) × 0.92% (resident owner). Eric inherits roughly this bill (~$2,366/yr ≈ ~$197/mo). FILE FOR THE EXEMPTION in your own name after closing.
Affordability — VERDICT: FITS — most comfortable of the batch
Assumptions: 6.5% 30-yr fixed, 20% down (no PMI), effective levy 0.92%, $125k exemption applied, ins ~$110/mo.
20% down (no PMI)
- 20% down = $79,980 → loan $319,920
- P&I at 6.5%: ~$2,022/mo
- Property tax (exemption applied): ~$197/mo
- Insurance: ~$110/mo · HOA $0 · PMI $0
- All-in: ~$2,329/mo → ~$171/mo UNDER the $2,500 target. ✓ (the most headroom in the batch)
Cash: $79,980 down + ~$11,997 closing (3%) ≈ $91,977 — inside the $105k fund, leaving ~$13.0k — the largest cushion of any candidate here. Lowest cash entry (lowest list).
Flags
- Listed as a FIXER UPPER — the seller is upfront: budget for paint, flooring, landscaping, and inspect for deferred maintenance behind the cosmetics. The single bathroom (3 bd / 1 ba) is a livability/resale limiter.
- Built 1977 — newest non-townhouse in the batch; far fewer pre-WWII systems risks than the 1920s/1930s/1940s candidates. Still inspect.
- Priced ~1% under assessed — you’re not overpaying; the cheapest list with the best cash cushion.
- Reno budget eats into the ~$13k cushion — keep the fixer scope honest.
Bottom line
The value play of the whole board — and the only candidate priced under the county’s own number. At $399,900 it’s the cheapest list on the leaderboard, sitting ~1% below Ada County’s $395,400 assessed, so for once you’re not paying a market premium just to get in the door. It also carries the lightest payment of the batch (~$2,329/mo, ~$171 under the ceiling) and leaves the fattest cash cushion (~$13k). Location’s a genuine draw: an SE Boise corner lot a block from Liberty Elementary and Helen B. Lowder Park, no HOA — and at a 1977 build it’s the newest of the older homes here, so far fewer pre-war systems surprises than the 1940s candidates.
The honest trade is that the seller lists it openly as a fixer — plan on paint, flooring, and landscaping — and it’s a single bath (3 bd / 1 ba), which caps livability and resale. So hold back part of that cushion for the work, and inspect for anything structural hiding behind the fresh paint.
The play: on the numbers, this is the strongest fit on the board and the easiest one to get into. Buy it for what it is — a solid-bones 1977 house that needs cosmetic love — keep the reno scope honest, and file for the homeowner’s exemption after closing to hold the ~$197/mo tax.