915 E Krall St

Run June 19, 2026 · rate 6.5% (Freddie 6.47% 6/18, Bankrate 6.48% 6/19/2026) · cash fund $105k Eric flagged this as likely over budget — confirmed: it blows through both the payment ceiling and the cash fund.

Price update (verified 2026-07-01): list is now $549,800 (was $574,800). The affordability math below was computed at the prior ask — re-run the eval to refresh it.

Listing facts (Zillow)

• ~$583/sqft (at the $549,800 list)
• East End bungalow — hardwood floors, arched doorways, coved ceilings, updated bath, newer roof + exterior paint. Detached 21’×15’ outbuilding w/ alley access; listing floats “potential ADU.” Walk to downtown, Hyde Park, Camel’s Back; “6.5 miles to MICRON.” Markets the rental/multigenerational angle. Zillow Est. payment $3,268/mo. 31 photos.

County record — Ada County Assessor (the truth)

• List price is ~$116,100 (≈27%) ABOVE assessed value — one of the widest list-over-assessed gaps on the board. The land carries most of the value ($222.5k for a 6,098 sqft East End lot); you’re paying a big premium over the county number for location + the ADU-potential story, on a 943 sqft 2/1.

(Assessment has bounced 365k→477k→434k since 2021 — volatile, land-driven.)

No homeowner’s exemption is reflected in these bills. 2025 bill $4,366.88 ≈ $473,800 × 0.922% (full assessed, un-exempted) — the owner bought in 2024 and the bill shows no ~50%-of-value exemption knockdown. Effective levy ≈ 0.92%. As owner-occupant Eric would file for the exemption: ($433,700 − $125k) × 0.922% ≈ $2,846/yr ≈ $237/mo.

Affordability — VERDICT: NO — over the payment ceiling AND over the cash fund

Assumptions: 6.5% 30-yr fixed, 20% down (no PMI), effective levy 0.92%, $125k exemption applied (Eric as owner-occupant), ins ~$110/mo.

20% down (no PMI)

• 20% down = $114,960 — already exceeds the entire $105k house fund before closing costs
• Loan $459,840 · P&I at 6.5%: ~$2,907/mo
• Property tax (exemption applied): ~$237/mo
• Insurance: ~$110/mo · HOA $0 · PMI $0
• All-in: ~$3,254/mo → ~$754/mo OVER the $2,500 target. ✗

Cash: $114,960 down + ~$17,244 closing (3%) ≈ $132,200 — about $27k OVER the $105k fund even before the payment problem. There is no 20%-down version of this house that fits.

Even a <20%-down stretch doesn’t save it

To stay inside $105k cash you’d put ~15% down (~$86k) + ~$17k closing ≈ $103k, but then PMI kicks in and the loan grows to ~$489k → P&I ~$3,090 + tax $237 + ins $110 + PMI ~$200 = ~$3,637/mo. Worse on payment, and you’ve drained the fund. No financing path lands near $2,500.

Flags

• ~27% over assessed value — still the biggest red flag here. $549,800 list vs $433,700 county. You’re paying a steep premium over the county’s own number for the East End address and an “ADU potential” that is unverified (R-2 zoning + alley access make it plausible, but it is not entitled — don’t pay for it as if built).
• 943 sqft, 2 bd / 1 ba, built 1905 — tiny and very old, at a very high ~$583/sqft. A 120-year-old house needs a serious inspection: knob-and-tube/updated wiring, plumbing, foundation, the “newer roof” claim, and what “updated bath” actually means.
• Volatile assessment (365k→477k→434k) — taxes will swing with land value; budget for drift.
• No exemption on the current bill — current owner pays the full ~$4,367/yr; Eric must FILE FOR THE EXEMPTION after closing to get to ~$2,846/yr. Doesn’t rescue the payment.

Bottom line

Eric called it, and the numbers agree: out of budget on both constraints — and the cut to $549,800 (from $574,800) doesn’t change the story. At the prior ask the 20% down payment alone ($114,960) was bigger than the entire $105k fund, and the all-in landed around $3,254/mo — roughly $754 over the $2,500 ceiling; a $25k trim can’t close gaps that size. On top of that it’s still priced ~27% over the county’s $433,700 assessed value for a 943 sqft, 2/1, 1905 bungalow. Charming East End location and a maybe-ADU lot, but it is not a contender at this price — it would need to drop into the low-$400s to even start a conversation.