521 10th Ave N

Payette, ID 83661

$135,000B-

4 bd · 1.0 ba · 1,608 sqft · Built 1900 · SingleFamily · Pending · 91 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,805/mo
• Mortgage (P&I): −$708
• Tax + insurance: −$113
• HOA: −$0
• Vac / Maint / Mgmt: −$379
• Net cashflow: $605/mo
• Annual: $7,264/yr
• Cap rate: 11.67%
• Cash-on-cash: 19.22%
• DSCR: 1.86
• 1% rule: 1.34%
• Cash to close: $37,800

Investor read

• This is a 4-bed/1.0-bath single-family listed at $135k.
• At list price, monthly cash flow is $605 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $135k).
• It's been on market 91 days — a 9% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $123k (9.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $933 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 64/100 on livability (#148 in ID) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: amenities F, commute F, employment D-.
• Payette Joint District (town): math 24% / reading 34% proficiency, ranked #87 of 92 in ID (top 95%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 63% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Payette Primary School (math 32% / reading 32%, grade F, #294 of 357 statewide, top 85%, 458 students, 78% FRL); Payette High School (math 12% / reading 37%, grade F, #133 of 169 statewide, top 82%, 394 students, 62% FRL).
• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 105 active listings in the ZIP; 230 units permitted in Payette County in 2024 (0 in 5+ unit buildings).
• 4 sale attempts since 14y ago; this cycle's ask has dropped $50k (27%) 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 $38k cash investment doubles in ~7 years — after that, you're playing with house money.
• Climate carrying-cost: extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 11.7% vs local median 2.1% in Payette — 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.
• This rent runs 36% of the median local income ($59k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 91 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.
• 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.