4030 River Resort Dr #19

Homedale, ID 83628

$149,900C+

3 bd · 2.0 ba · 1,269 sqft · Built 2008 · Manufactured · Active · 21 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,893/mo
• Mortgage (P&I): −$786
• Tax + insurance: −$250
• HOA: −$0
• Vac / Maint / Mgmt: −$398
• Net cashflow: $460/mo
• Annual: $5,516/yr
• Cap rate: 9.97%
• Cash-on-cash: 13.14%
• DSCR: 1.58
• 1% rule: 1.26%
• Cash to close: $41,972

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $150k. Condition is rated good.
• At list price, monthly cash flow is $460 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• It's been on market 21 days — a 2% lower offer ($148k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $148k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 66/100 on livability (#105 in ID) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A; Watch: amenities F, commute F, employment D-.
• Homedale Joint District (town): math 32% / reading 50% proficiency, ranked #64 of 92 in ID (top 70%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Homedale Elementary School (math 42% / reading 32%, grade F, #255 of 357 statewide, top 74%, 469 students, 59% FRL); Homedale High School (math 17% / reading 52%, grade F, #108 of 169 statewide, top 67%, 411 students, 40% FRL).
• Market conditions: 40 active listings in the ZIP; 40 units permitted in Owyhee County in 2024 (0 in 5+ unit buildings).
• Owyhee County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts since 7y ago; this cycle's ask has dropped $10k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $42k cash investment doubles in ~9 years — after that, you're playing with house money.
• Cap rate 10.0% vs local median 2.0% in Homedale — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Questions for listing agent

• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.
• What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
• How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Repairs flagged (vision-AI assessment)

• Minor: kitchen cabinets — slight wear
• Minor: bathroom cabinets — slight wear
• Minor: kitchen countertops — dated design