7685 W Mojave Dr

Run June 29, 2026 · rate 6.5% (~6.49–6.54% 6/29/2026: Freddie 6.49% 6/25, MND ~6.53%) · cash fund $105k

Listing facts (Zillow)

• Zestimate $398,000 · ~$268/sqft
• 2-car attached garage · Central Air + Forced Air heat · 1 fireplace · carpet
• 18 days on market · Parcel (Zillow) R8049270265
• Listing tone: “ready for a new vision,” “perfect canvas for restoration,” “solid bones” — i.e. a fixer / dated interior. Renovation budget likely needed; condition is the open question.

County record — Ada County Assessor (the truth)

20% down (no PMI)

• 20% down = $79,980 → loan $319,920
• P&I at 6.5%: ~$2,022/mo
• Property tax (exemption applied, anchored to actual 2025 bill): ~$120/mo
• Insurance: ~$120/mo · HOA: $0 · PMI: $0
• All-in: ~$2,262/mo → ~$238/mo UNDER the $2,500 target. ✓ Roomiest payment margin in the recent batch, thanks to the low non-city tax bill.

Cash: $79,980 down + ~$11,997 closing (3%) ≈ $91,977 — inside the $105k fund, leaving ~$13k cushion. Positive, but that ~$13k is also your entire renovation war chest on a house the listing openly calls a “canvas for restoration.” That’s the squeeze — not the monthly, the money left to fix it.

Flags

• THIS IS A FIXER — condition is the whole ballgame. “Perfect canvas for restoration,” “solid bones,” carpet throughout, built 1980 — translate: dated interior, likely original/aging systems, deferred maintenance. Order a rigorous inspection (roof, the forced-air furnace + A/C condenser age, water heater, electrical panel/service, plumbing supply lines, windows) and a sewer scope. Get a real, itemized reno bid before writing an offer — the “under assessed” ask only pencils as a deal if the work fits your budget.
• Thin cash for the work it needs. ~$13k left after 20%-down + closing is a fine cushion for a turnkey house, but slim for a restoration project. Either negotiate the price down to fund the reno, or expect to phase the work (and keep the separate emergency fund untouched — it is NOT the reno budget).
• Listed ~3.3% UNDER assessed value (the field’s exception). Most candidates list above the assessor’s number; this one sits below it. Read it as a condition discount, not found money — confirm with the inspection what the discount is actually paying for.
• Owner-occupied by a person (~2 yrs), not a flip. Good news: lower odds of lipstick-over-structure, and seller disclosures should exist (unlike the REO/flip candidates). Posture is honest-old-house, so price the dated systems rather than fear a cover-up.
• Low taxes are structural (non-city Tax Code Area 57), but still drift. The ~$120/mo bill is a genuine edge over Boise-city candidates — but Idaho has no assessment cap and the valuation history is volatile (2022 spike, 2023 dip, now climbing). Budget for the tax to rise; a purchase may also bump the assessed value.
• FILE THE HOMEOWNER’S EXEMPTION after closing to hold the ~$120/mo tax. It doesn’t transfer with the sale.

Bottom line

On paper this is the easiest budget fit in the recent batch: a 3 bd / 2 ba, 1,494 sqft 1980 single-family with a 2-car garage on a 0.21-ac lot that pencils to ~$2,262/mo (~$238 under the $2,500 ceiling) on ~$92k cash (inside the $105k fund) — helped by an unusually low ~$120/mo tax bill because it sits in non-city Tax Code Area 57. It’s also the field’s rare listing priced under its county assessed value ($399,900 vs $413,400). But the listing language is honest: this is a fixer, owner-occupied and un-renovated for years, and the same ~$13k cushion that clears the cash test is also the only money left to restore it. The numbers say yes; the inspection and a real renovation bid decide it. Get the sewer scope, age every system, and negotiate the price to fund the work before this becomes a real maybe-to-yes.