483 1st W

Ririe, ID 83422

$315,000D

3 bd · 2.0 ba · 1,132 sqft · Built 1913 · Other · Pending · 27 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,150/mo
• Mortgage (P&I): −$1,652
• Tax + insurance: −$226
• HOA: −$0
• Vac / Maint / Mgmt: −$451
• Net cashflow: $-179/mo
• Annual: $-2,148/yr
• Cap rate: 5.61%
• Cash-on-cash: -2.44%
• DSCR: 0.89
• 1% rule: 0.68%
• Cash to close: $88,200

Investor read

• This is a 3-bed/2.0-bath other listed at $315k.
• At list price, monthly cash flow is $-179 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $283k (10.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $215k (31.7% below list).
• It's been on market 27 days — a 2% lower offer ($310k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $215k (31.7% below list) — sets the bar for 1% rule.
• In year one you build about $34k of equity ($2k loan paydown + $32k appreciation (10.0% local appreciation)).
• Location reads 64/100 on livability (#158 in ID) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Ririe Joint District (rural): math 44% / reading 58% proficiency, ranked #27 of 92 in ID (top 29%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Ririe Elementary School (math 45% / reading 59%, grade C-, #130 of 357 statewide, top 38%, 396 students, 22% FRL); Ririe Jr/Sr High School (math 42% / reading 57%, grade D, #45 of 169 statewide, top 29%, 337 students, 18% FRL) — zoned schools average 20% FRL vs 40% district-wide (20 pts lower); this property's tenant base skews higher-income than the district average.
• Watch-outs: built in 1913 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 150 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 283 units permitted in Jefferson County in 2024 (0 in 5+ unit buildings).
• 3 sale attempts since 15y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• By year 2, paydown + projected appreciation supports a ~$54k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

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?
• Built in 1913 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.
• 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.