4700 S 5th Ave #9

Pocatello, ID 83204

$39,000D-

2 bd · 1.0 ba · 0 sqft · Built 1973 · Manufactured · Active · 69 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $879/mo
• Mortgage (P&I): −$205
• Tax + insurance: −$65
• HOA: −$530
• Vac / Maint / Mgmt: −$185
• Net cashflow: $-105/mo
• Annual: $-1,262/yr
• Cap rate: 3.06%
• Cash-on-cash: -11.56%
• DSCR: 0.49
• 1% rule: 2.25%
• Cash to close: $10,920

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $39k.
• At list price, monthly cash flow is $-105 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $24k (39.0% below list).
• Meets the 1% rule at list price ($879 rent vs $39k).
• It's been on market 69 days — a 6% lower offer ($37k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $24k (39.0% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $270 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Location reads 84/100 on livability (#7 in ID, #758 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: amenities C-, employment D.
• Pocatello District (urban): math 45% / reading 58% proficiency, ranked #26 of 92 in ID (top 28%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Indian Hills Elementary School (math 44% / reading 60%, grade C-, #130 of 357 statewide, top 38%, 539 students, 42% FRL); Irving Middle School (math 33% / reading 54%, grade D, #60 of 109 statewide, top 56%, 712 students, 39% FRL); Century High School (math 41% / reading 71%, grade C, #24 of 169 statewide, top 14%, 1,092 students, 33% FRL) — zoned schools at 38% FRL track the district average.
• Watch-outs: HOA is 60% of rent.
• Market conditions: Rents rising fast (+4.0%/yr); 188 active listings in the ZIP; 325 units permitted in Bannock County in 2024 (6 in 5+ unit buildings).
• 5 sale attempts since 2y ago; this cycle's ask is 3800% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 69 days. Have you received any prior offers? Is the seller open to a 39% concession, seller financing, or rate buy-down credit?
• Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.