2116 S Pacific St

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 $450,000 (was $468,000) — the cut this eval hoped for. The main affordability math below was computed at the prior ask, but the “where it could land” scenario at ~$450k is now the live case — re-run the eval to confirm.

Listing facts (Zillow)

• ~$339/sqft (at the $450,000 list)
• Boise Bench. Listing: built 1940s, “thoughtfully remodeled in 2020” — updated kitchen, light-filled, front porch, firepit/string-lights backyard, patio + storage shed. Minutes from BSU, downtown, airport. Zillow Est. payment $2,629/mo. 40 photos.

County record — Ada County Assessor (the truth)

• List price is ~$79,700 (≈22%) ABOVE assessed value — a wide gap. Some is the 2020 remodel (assessors lag cosmetic updates), but you’re paying a clear premium over the county number; push to justify it on comps.

(Doubled since 2020 — fast-rising Bench valuation; budget for tax drift.)

Exemption already applied. 2025 bill $2,411.06 ≈ ($386,600 − $125k) × 0.92% (resident owner Williamson). Effective levy ≈ 0.92%. As owner-occupant Eric inherits roughly this: ($370,300 − $125k) × 0.922% ≈ $2,262/yr ≈ $188/mo. FILE FOR THE EXEMPTION in your own name after closing. (Note: the 2025 bill shows ~$1,099 still due as of 6/17/26 — that’s the seller’s unpaid 2nd-half installment, not a lien you’d inherit; it settles at closing. Flag for the title company anyway.)

Affordability — VERDICT: FITS WITH A CAVEAT — slightly over on both, but close

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 = $93,600 → loan $374,400
• P&I at 6.5%: ~$2,367/mo
• Property tax (exemption applied): ~$188/mo
• Insurance: ~$110/mo · HOA $0 · PMI $0
• All-in: ~$2,665/mo → ~$165/mo OVER the $2,500 target. Slightly over. ⚠️

Cash: $93,600 down + ~$14,040 closing (3%) ≈ $107,640 — about $2,640 OVER the $105k fund. Essentially right at the ceiling; a 2.5% closing cost or a small seller credit would bring it inside. Tight, not impossible.

Where it could land in budget — this is now the live case

A modest price cut helps both numbers at once: at ~$450k, 20% down ($90k) + ~$13.5k closing ≈ $103.5k (inside the fund) and P&I ~$2,277 → all-in ~$2,575 — still a touch over $2,500 but within striking distance. The seller has since cut the list to exactly $450,000 (verified 2026-07-01), so this scenario is now the actual ask — re-run the eval to confirm it. At the prior full $468k it was a slight stretch on payment and cash both.

Flags

• ~22% over assessed value — paying a premium over the county’s $370,300. The 2020 remodel explains part of it; verify the remodel scope and comps before accepting the gap.
• Built 1945, “remodeled 2020” — confirm what the remodel actually covered (systems vs. cosmetic): roof, electrical, plumbing, furnace/AC, windows. A pretty kitchen doesn’t mean new mechanicals. Inspect.
• Fast-rising assessment (184k→387k since 2020) — taxes will keep drifting up; the $188/mo is today’s number.
• Seller has ~$1,099 in 2025 taxes still due — routine, handled at closing, but make sure title prorates it.
• Best layout in the over-$2,500 group (3/2, 1,326 sqft) — the size/bath count is a real plus vs. the tiny old bungalows.

Bottom line

The closest of the stretch candidates to fitting — and it just got closer. At the prior $468,000 ask the all-in was ~$2,665/mo (~$165 over the $2,500 ceiling) with ~$107.6k cash needed (~$2.6k past the $105k fund) — over on both, but only just. The seller has since cut to $450,000, which per the scenario above pencils to ~$2,575/mo and ~$103.5k cash: inside the fund, still a touch over the payment ceiling. It’s a genuinely livable house: 3 bd / 2 ba, 1,326 sqft, 2020-remodeled, good Bench location near BSU/downtown. Re-run the eval at the live ask, and it’s still worth an offer below it; close now, but not yet a clean fit.