Investment Opportunities in Boise Real Estate

Why Consider Investing in Boise:

Boise has been in the spotlight for years as one of the best places to raise a family, recreate, own a business, and improve quality of life. During the pandemic, people from all over the nation were looking to Boise as a place for a fresh start and easy living. Because of its proximity to the great outdoors and affordable cost of living, its popularity as a relocation destination skyrocketed. Home values also skyrocketed due to strong demand, with the average cost of an existing home in Ada County increasing 67% from January 2020 to today (17% in 2020 alone!). Boise’s price growth prior in 2019 was 12%, so the past few years were a phenomenal time for homeowners (and investors) to cash in on their investments. As popular as ever and still in demand, Boise is a hot spot for investment as values are expected to pick up again even after the current cool down of the market.

Quality of Life:

There’s no doubt why people are drawn to Boise. Cradled at the base of a majestic mountain range with a beautiful river flowing right in the middle of it, Boise is a place where fresh air abounds and outdoor play is encouraged. Dozens of hiking and mountain biking trails stretch over thousands of protected miles in the foothills known as the Ridge-to-Rivers trail system. These trails ensure Boise’s distinctive rustic skyline and residents an all-access pass to recreate year-round within moments of neighborhoods. Water activities including fly fishing and rafting are abundant on and around the Boise River, where overflow ponds and creeks settle into communities for easy access. The 25-mile paved Greenbelt flanked on the northern and southern sides of the river is a path for all, from bike commuters to leisurely strolls and offers a reprieve from the heat of summer (yes, temperatures are reportedly several degrees cooler by the river). Downtown is full of life, with regular events, festivals, parades, and two popular outdoor markets. 

Growth:

Idaho’s population grew 2.9% from 2020 to 2021, marking it as one of the fastest growing states during the ‘great migration’ of the pandemic. Boise’s population stands around 241,686 (larger than Salt Lake City), making it big enough to have larger city amenities yet keeping its small town charm. Companies are taking advantage of Boise’s ever-growing population and ease of business operations, including those in the tech startup and manufacturing sectors. Big employers of the area include St. Luke’s Health System, Albertsons, Simplot, and Micron (which announced a $15 billion expansion for a Memory Fab in Idaho that will create 17,000 American jobs).

Cost of Living:

Living in Idaho has been relatively affordable compared to larger metro areas where people are flocking from. The current sales tax sits around 6%, the payroll tax is a progressive income tax segmented in seven brackets that range from 1.125% to 6.925%, and there is no social security tax at the state level making Idaho a retiree-friendly state. However, housing affordability has been tough for some over the past two years as home values have surpassed any expectations of homeowners, buyers, and even realtors! Wages remain lower than the national average, which can be an advantage for investors seeking property management companies and tradespeople to oversee and maintain properties. Developers may find Boise a desirable area with land more readily available than other larger cities, and cost of labor slightly less expensive.

Investment Properties and Opportunities for Sale in Boise:

TBD at The River Club | $2,000,000

One of the last buildable parcels on the Boise River, this rare residential development opportunity offers ~333' of linear frontage on the river and golf course at The River Club. Build up to 3 custom residences in this premier golf community.

1217 S Michigan Avenue | $800,000

Great opportunity just one block from Boise State Univeristy. Set on a prime ~.25-acre lot and currently zoned R-2D. The current nonconforming usage as a co-living building 10 private bedrooms is great for easy and instant cash flow with tenants and property management company in place.

1208 W State Street | $799,900

This unbeatable location, right where downtown & the North End meet, is a desirable spot for urban living & to present your business with great visibility from State Street traffic flow. The property offers various possibilities for continued commercial use or rezone to residential for a personal residence, potential short-term rental, or development potential (up to 43 units/acre - subject to City approval).

1503/1505 S Euclid Avenue | $747,000

Rare opportunity to own a desirable duplex, just 5 blocks to BSU! Easily rented, and in a high-demand area making this an optimal addition to any investment portfolio. Two nearly identical 2-bedroom, 2 bathroom units with garage parking.

1325 W Highland Street | $448,000

Own a primary residence or investment property just 5 blocks from BSU! This charming corridor is filled with well loved and maintained properties. It is a desirable location to live, and also easy to rent, due to the proximity to BSU, Boise's popular downtown, St Luke's, the greenbelt and the Boise River!

2409 N 28th Street | $299,900

A wonderful opportunity to create a dream home from scratch in the desirable Sunset neighborhood, of the North End! Building lots are rare in the area, and this ~.15-acre homesite is a slate to start from the ground up. The existing home is beyond a DIY-remodel, and will require professional contractors to replace all systems, walls, roof, and more. 

955 E Boise Avenue | $199,900

An excellent value and opportunity to build a new home, in the heart of SE Boise! This ~.16-acre building lot is permit-ready and nicely insulated from the street (no direct traffic in front). Utilities have been pre-installed for added convenience, including natural gas, electricity, water, and sewer (both lines extended from the street to the building area)