820 S Shoshone St

Run June 19, 2026 · rate 6.5% (Freddie 6.47% 6/18, Bankrate 6.48% 6/19/2026) · cash fund $105k

Listing facts (Zillow)

• ~$376/sqft
• Depot Bench. Attached garage (the only garage in this batch), hardwood floors, built-in bookshelves, primary bath addition, wood-burning fireplace, covered back patio. Markets bikeability to Greenbelt, BSU, downtown, Ann Morrison Park. Zestimate $487,500 (list is ~$12.5k OVER Zestimate). Zillow Est. payment $2,809/mo. 36 photos.

County record — Ada County Assessor (the truth)

• List price is ~$94,100 (≈23%) ABOVE assessed value — wide gap, and also ~$12.5k over Zillow’s own Zestimate. The primary-bath addition explains some lag, but $500k is an ambitious ask over the $405,900 county number on a new listing with no price history yet.

No homeowner’s exemption on the current bill — and this matters. The bill ~doubled from $1,866 (2020) to $3,449 (2021) and has stayed ~$3,400–3,640 since: 2025 $3,638.60 ≈ $393,700 × 0.92% on full assessed value, i.e. un-exempted (likely held as a non-owner-occupied/rental after 2020). Effective levy ≈ 0.92%. As owner-occupant Eric files for the exemption → ($405,900 − $125k) × 0.924% ≈ $2,595/yr ≈ $216/mo — a real ~$1,000/yr savings vs. the current owner’s bill. FILE FOR THE EXEMPTION after closing. (2025 shows ~$1,820 still due as of 6/17/26 — seller’s unpaid 2nd half; prorated at closing. Flag for title.)

Affordability — VERDICT: NO (at ask) — over on both payment and cash

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 = $100,000 → loan $400,000
• P&I at 6.5%: ~$2,528/mo
• Property tax (exemption applied): ~$216/mo
• Insurance: ~$110/mo · HOA $0 · PMI $0
• All-in: ~$2,854/mo → ~$354/mo OVER the $2,500 target. ✗

Cash: $100,000 down + ~$15,000 closing (3%) ≈ $115,000 — about $10k OVER the $105k fund. Over on both constraints at the $500k ask.

What it would take to fit

To land near $2,500 all-in you’d need the price around ~$435k: 20% down ($87k) → loan $348k → P&I ~$2,200 + tax ~$216 + ins $110 ≈ $2,526, with cash ~$100k inside the fund. That’s a ~$65k (13%) cut from ask — a big gap on a brand-new listing. A buyer-paid-down/rate buydown could shave the payment, but the cash ceiling still binds.

Flags

• ~23% over assessed AND ~$12.5k over Zestimate — aggressive pricing on a fresh listing. No price-cut history to lean on; the seller is testing the top of the market. Anchor any offer to the $405,900 county value + comps.
• Current tax bill is un-exempted (~$3,639/yr) — the property looks to have been non-owner-occupied since ~2021. Good news for Eric (exemption cuts it to ~$2,595), but it’s a hint to ask whether it was a rental and inspect for landlord-grade deferred maintenance.
• Built 1952, primary-bath addition — confirm the addition was permitted and the systems (roof, electrical, plumbing, furnace) behind the staged photos. 1950s slab/foundation and original wiring are common issues.
• Has a garage + 3/2 + 1,329 sqft — genuinely the most complete package in the batch on paper; the problem is purely price. If it sits and cuts, revisit.

Bottom line

Best house, wrong price. At $500,000 it’s over the $2,500 ceiling (~$2,854/mo all-in) and over the $105k fund (~$115k cash needed) — a no at ask. It’s also priced ~23% above the county’s $405,900 and ~$12.5k above Zillow’s own Zestimate, with zero price-cut history to soften it. But it’s the most livable layout here: 3 bd / 2 ba, 1,329 sqft, attached garage, Depot Bench bikeability. If this new listing sits and drops toward the mid-$430s, it becomes a real contender; today it needs a ~$65k haircut to fit, so watch it and don’t chase it at $500k.