Long-Term Rental — Existing Owner Analysis

2589 W Maracay Dr, Meridian, ID 83642

4 Bed / 3 Bath · 2,720 SF · Built 2004 · 0.29-Acre Lot · Northwest Meridian

$2,650–$2,960

Projected Monthly Rent

$21,016–$24,029

Projected Annual Net Income

Freedom Management Fee

2,720 SF

Living Area

Property Overview

A well-built, owner-held rental in a strong Meridian submarket

This analysis is prepared for a property the owner already holds — there is no purchase price or financing involved. It models the property's performance as a professionally managed, long-term (unfurnished, 12-month lease) rental under Freedom Property Management.

Address2589 W Maracay Dr, Meridian, ID 83642
Configuration4 Bed / 3 Bath (2 full, 1 half)
Interior living area2,720 SF
Year built2004
Lot size0.29 acres
Parking3-space attached garage
HeatingForced air, gas
FlooringCarpet & hardwood
Notable featuresFireplace, spa
Included appliancesDishwasher, refrigerator
HOA$60/month
Annual property tax$2,372 (current)
Parcel numberR1079870630

Already owned — no acquisition math: Because this property is already owned free of any transaction, this analysis does not include a purchase price, financing, cap rate, cash-on-cash return, or any home value estimate. It focuses solely on projected rental income and operating costs.

Long-term vs. short-term: This is a traditional, unfurnished 12-month lease model — a different service line from the short-term/co-hosting analyses elsewhere in this portfolio. Freedom's long-term management fee for this engagement is set at 8% of collected rent.

Rent Comps

What comparable Meridian rentals are actually leasing for

Two independent sources were checked so the projection isn't built on a single number.

$2,960

Zillow Rent Zestimate®

$2,654

Rentometer Average (25 comps)

$2,418–$2,890

Rentometer Typical Range (25th–75th pct.)

$2,595

Rentometer Median

Rentometer pulls 25 comparable 4-bed, 1.5+ bath rentals seen within a 12-month window in a 1.5-mile radius of the property (Northwest Meridian). Its closest true 4-bed/3-bath comp — 2330 W Trestle Dr, 0.56 mi away, 2,542 SF — leased at $2,750 in December 2025. Most of the other closest comps skew smaller (2-bed apartments/houses), which is why the Rentometer average sits below Zillow's model-based Rent Zestimate. Given the property's above-average size (2,720 SF) and full 3-bed/3-bath+ configuration relative to most nearby comps, the Base Case below uses a rent toward the middle of this range rather than the low end, with the Zillow figure as the Strong Case.

Revenue Projection

Base and Strong Case monthly rent

Base Case$2,650/mo
$31,800/year · near Rentometer's average/median comps
BasisRentometer average, rounded

Strong Case

$2,960/mo

$35,520/year · Zillow Rent Zestimate®

BasisZillow model estimate

Confirm before listing: both figures are estimates, not signed-lease income. Freedom recommends a comparative market analysis at time of listing (using current, active comps rather than historical ones) to set the actual asking rent.

Operating Pro Forma

Annual income & expense projection

No debt service is modeled — the property is owned outright by the client. The bottom line below is the owner's net income after all operating costs and Freedom's 8% management fee.

Line Item	Base Case	Strong Case
Gross Scheduled Rent	$31,800	$35,520
Vacancy & credit loss (5%)	($1,590)	($1,776)
Effective Gross Income	$30,210	$33,744
Freedom management fee (8% of gross rent)	($2,544)	($2,842)
Repairs & maintenance (est., 6% of gross rent)	($1,908)	($2,131)
Leasing / turnover reserve (amortized)	($250)	($250)
Property tax (current)	($2,372)	($2,372)
Landlord insurance (est.)	($1,400)	($1,400)
HOA	($720)	($720)
Net Owner Income	$21,016	$24,029

$1,751 – $2,002

Monthly Net Income to Owner

66% – 68%

Net Income Margin (of Gross Rent)

Read this carefully: repairs/maintenance, leasing reserve, and landlord insurance are Freedom Property Management planning estimates, not vendor quotes or bills — get an actual landlord policy quote before finalizing a leasing decision. Property tax and HOA are current, actual figures. Because there is no mortgage on this property, 100% of Net Owner Income shown above flows to the owner as cash — there is no debt service to subtract.

Idaho Landlord-Tenant Compliance

What to know before leasing

•No statutory security deposit cap: Idaho does not set a maximum deposit amount, but under Idaho Code §6-321 the deposit must be returned within 21 days of lease termination and tenant move-out (up to 30 days if deductions are itemized in writing); normal wear and tear cannot be deducted.
•Notice periods: Idaho does not fix a statutory notice period for a fixed-term lease ending on schedule — the lease itself should specify (commonly 30 or 60 days). Month-to-month tenancies require a full rental period's written notice (typically 30 days) from either party.
•Meridian / Ada County: no city-specific long-term rental licensing or rent-control ordinance is currently in effect; standard Idaho landlord-tenant law applies.
•HOA rental rules: confirm the HOA's current CC&Rs permit leasing and note any tenant-registration or minimum-lease-term requirements before listing.

This section is a summary, not legal advice. Verify current requirements with the Idaho Attorney General's Landlord and Tenant guidance and a local attorney before executing a lease.

Freedom Property Management Services

What an 8% long-term management engagement includes

Tenant Placement & Screening

Marketing the vacancy, showings, credit/background/income screening, and lease execution.

Rent Collection & Accounting

Monthly rent collection, owner statements, and disbursement, with online portals for both owner and tenant.

Maintenance Coordination

Vendor dispatch for repairs and routine maintenance requests, with owner approval on non-emergency spend.

Lease Renewals & Compliance

Renewal negotiation, notice administration, and adherence to current Idaho landlord-tenant requirements.

Fee structure for this engagement: 8% of collected monthly rent, with no long-term contract lock-in beyond the terms agreed at signup. A separate one-time leasing/placement fee is typical industry practice at tenant turnover and should be confirmed as part of the management agreement (not included in the 8% ongoing fee modeled above).

© 2026 Freedom Property Management, LLC. All rights reserved.

This document is prepared by Freedom Property Management for informational and planning purposes and does not constitute a guarantee of rental performance, or financial, tax, or legal advice. This property is already owned by the client; no purchase price, financing, or acquisition analysis is included or implied. The Base and Strong Case monthly rent figures are third-party estimates (Zillow Rent Zestimate® and Rentometer comparable-rental analysis) as of September 2026, not signed leases or guaranteed achievable rents; actual market rent should be confirmed via a current comparative market analysis at time of listing. Vacancy, repairs and maintenance, landlord insurance, and leasing-reserve figures are Freedom Property Management planning assumptions, not vendor quotes, bills, or guarantees. Property tax and HOA figures reflect the most recently available public data and may change. Idaho landlord-tenant law and Meridian/Ada County requirements summarized here are current as of this writing and are provided as a general summary only, not legal advice; requirements can change and should be independently verified, including with a licensed attorney, before executing a lease. Freedom Property Management is not a licensed financial advisor, CPA, or attorney. The owner should independently verify all figures and consult qualified professionals as needed.