925 Iowa
Run June 19, 2026 · via boise-home-eval skill · rate 6.5% (Freddie 6.47% 6/18, Bankrate 6.48% 6/19/2026) · cash fund $105k
Listing facts (Zillow, MLS #98981556)
- Source: https://www.zillow.com/homedetails/925-Iowa-Boise-ID-83706/446310157_zpid/
- List price: $449,900 (price cut $5K on 6/4)
- 2 bd / 3 ba · 1,552 sqft · built 2007 · lot ~0.055 ac · ~$290/sqft
- Multi-Family / townhouse (attached) · modern & sleek, dual master suites, office/flex space. Marketed as a “short/mid-term rental or pilot crash pad” near downtown/BSU/Micron. 36 photos. No HOA shown — VERIFY (attached units usually carry one).
County record — Ada County Assessor (the truth)
- Parcel: R7818240040 · Subdivision: SEWELLS FIRST SUB · LOT 04 BLK 01 · Zone R-2 · 0.055 ac · Tax Code Area 01-6
- Owner of record: EIGHT24 PROPERTIES LLC (an LLC → investor/flip; Instrument #2022036817, bought 2022)
- 2026 assessed value: $405,900 — land $152,000 (MARKET) + dwelling $253,900 (COST)
- List price is ~$44,000 (11%) OVER assessed value. Note the 2026 assessment JUMPED to $405,900 from 2025’s $359,300 (+13%) — consistent with an investor improving/flipping the unit.
Valuation history by year (no Idaho cap — taxes drift with these)
| Year | Assessed |
|---|---|
| 2026 | $405,900 |
| 2025 | $359,300 |
| 2024 | $357,500 |
| 2023 | $371,000 |
| 2022 | $471,800 |
| 2021 | $338,800 |
| 2020 | $302,000 |
Actual property tax history (Total Taxes billed)
| Year | Total Taxes |
|---|---|
| 2025 | $3,321.58 |
| 2024 | $3,252.08 |
| 2023 | $3,550.74 |
| 2022 | $3,015.00 |
| 2021 | $2,344.70 |
| 2020 | $2,403.24 |
NO exemption applied (LLC investor owner). 2025 bill $3,321.58 ≈ $359,300 × 0.92% on full value. As owner-occupant Eric files the exemption and saves ~$1,150/yr: estimated ~$2,156/yr ≈ ~$180/mo (vs. the current ~$277/mo). FILE FOR THE EXEMPTION after closing.
Affordability — VERDICT: OVER target on payment
Assumptions: 6.5% 30-yr fixed, 20% down (no PMI), effective levy 0.92%, $125k exemption applied, ins ~$110/mo. HOA unknown — could push higher.
20% down (no PMI)
- 20% down = $89,980 → loan $359,920
- P&I at 6.5%: ~$2,275/mo
- Property tax (exemption applied): ~$180/mo
- Insurance: ~$110/mo · HOA: $0 assumed — UNVERIFIED for an attached unit · PMI $0
- All-in: ~$2,565/mo → ~$65/mo OVER the $2,500 target (and higher if there’s an HOA). ✗
Cash: $89,980 down + ~$13,497 closing (3%) ≈ $103,477 — inside the $105k fund, but leaving only ~$1.5k.
Flags
- Investor LLC owner (EIGHT24 PROPERTIES LLC) — a flip. Demand a rigorous inspection (updates vs. lipstick); the assessment jumped +13% into 2026.
- 2 bd / 3 ba townhouse, 0.055 ac — attached, tiny lot, marketed as a rental/crash pad, not a single-family home. Different asset class than the rest of the batch.
- HOA unknown — attached units typically have one; an undisclosed HOA would push the all-in further over $2,500. Confirm before anything.
- Both constraints tight: ~$65/mo over payment and only ~$1.5k cash left after 20% down + closing.
Bottom line
A pass as a primary residence: it’s an attached 2/3 townhouse pitched as an investor crash pad, owned by a flip LLC, listed ~11% over the county’s $405,900. At 20% down it runs ~$2,565/mo (over $2,500, before any HOA) and leaves only ~$1.5k of the fund. The exemption Eric would file helps (~$1,150/yr) but doesn’t get it under target. Verify the HOA and inspect the flip hard before considering it at all.