363 W Griffith Rd #18

Pocatello, ID 83201

$58,500D

2 bd · 2.0 ba · 0 sqft · Built 1993 · Manufactured · Pending · 81 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $982/mo
• Mortgage (P&I): −$307
• Tax + insurance: −$48
• HOA: −$480
• Vac / Maint / Mgmt: −$206
• Net cashflow: $-59/mo
• Annual: $-713/yr
• Cap rate: 5.07%
• Cash-on-cash: -4.35%
• DSCR: 0.81
• 1% rule: 1.68%
• Cash to close: $16,380

Investor read

• This is a 2-bed/2.0-bath manufactured listed at $58k.
• At list price, monthly cash flow is $-59 ($-713/yr) — negative.
• To cash-flow at today's rent, offer at most $48k (17.9% below list).
• Meets the 1% rule at list price ($982 rent vs $58k).
• It's been on market 81 days — a 6% lower offer ($55k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $48k (17.9% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $404 of loan paydown is wiped out by about $2k 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: Alameda Middle School (math 46% / reading 57%, grade C, #28 of 109 statewide, top 25%, 645 students, 40% FRL) — zoned schools at 40% FRL track the district average.
• Watch-outs: HOA is 49% of rent.
• Market conditions: Rents rising (+3.4%/yr); 365 active listings in the ZIP; 325 units permitted in Bannock County in 2024 (6 in 5+ unit buildings).
• This rent is only 18% of the median local income ($66k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

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 81 days. Have you received any prior offers? Is the seller open to a 18% concession, seller financing, or rate buy-down credit?
• 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.
• 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.