28128 N Highway 41 #38 · Spirit Lake, ID 83869

$119,000

2 bd · 1.0 ba · 924 sqft · Manufactured · 16 Days on market

Built 1983 Good condition ↓ 20% since listing

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Why this score? — see what drove the D grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +14.6/30.0
• ARV discount +7.5/15.0
• DSCR +4.4/10.0
• Schools +4.2/10.0
• 1% rule +4.0/10.0
• Condition / age +4.0/5.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This manufactured home has been remodeled with great attention to detail. You will find vinyl plank flooring, new carpet, new windows, new exterior doors and more. Freshly painted inside and out with eye pleasing colors. Included in the sale is a washer and dryer, dishwasher, refrigerator, new furnace with warranty included and a range/oven. Yard is fenced which allows for a small dog (park rules under 35 lbs.) or a cat. Propane heat and a wood burning stove. The Scenic Mobile Home Park is one of the lowest for space rent, $325/mo includes water and sewer. There is a trash service available which tenant pays and is very reasonable. Internet is available with Itermax Wireless. This Park offers a country feel with some of the nicest people who live here. Come see this today!

Key facts

• Master suite
• New flooring
• Wood fire stove

Tags

• MASTER SUITE
• REMODELED SHOWER
• DOUBLE UPDATED SINKS
• NEW FLOORING
• WOOD FIRE STOVE
• FULLY REMODELED KITCHEN

Property features AI

Finance

• HOA & community: Has association with monthly fee

Exterior

• Parking: Gravel road access
• Utilities: Community water; Community sewer
• Home design: Manufactured home
• Construction: Aluminum siding; Metal roof; Pillar/post/pier foundation; Built as a manufactured structure
• Exterior features: Covered porch; Covered deck; Open porch; Lawn; Exterior lighting; Shed(s); Southern exposure; Corner lot; Level lot; Has a view

Interior

• Kitchen: Electric range; Cooktop; Dishwasher; Refrigerator; Freezer
• Bedrooms: 2 main-level bedrooms
• Flooring: Vinyl; Carpet
• Bathrooms: 2 main-level bathrooms
• Heating & cooling: Wood stove; Electric heating; Propane heating; Forced air furnace; Central air
• Interior features: Cable internet available; Fireplace; Washer hookup
• Laundry & utility: Washer; Electric dryer; Electric dryer hookup; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $119k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $28 ($334/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $108k (9.6% below list).
• Recommended offer: $108k (9.6% below list) — sets the bar for 1% rule.
• Cap rate 6.6% vs local median 0.8% in Spirit Lake — 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.

Location & tenants

• Location reads 66/100 on livability (#114 in ID) — a middle-class / working-renter tenant base. Strengths: housing A+, cost of living A, crime A-; Watch: employment D+, amenities F, commute F.
• Lakeland District (rural): math 41% / reading 57% proficiency, ranked #34 of 92 in ID (top 37%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Spirit Lake Elementary School (math 37% / reading 52%, grade F, #199 of 357 statewide, top 59%, 298 students, 40% FRL); Timberlake Middle School (math 43% / reading 59%, grade C, #29 of 109 statewide, top 26%, 380 students, 31% FRL); Timberlake Senior High School (math 32% / reading 72%, grade D+, #30 of 169 statewide, top 21%, 561 students, 21% FRL).
• Market conditions: 105 active listings in the ZIP; 1,606 units permitted in Kootenai County in 2024 (154 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $823 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Kootenai County population projected at +33% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($117k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 5y 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.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $107,617 (9.6% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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.

Investment metrics

• 1% rule: 0.90% ✗
• Cap rate: 6.57%
• Cash-on-cash: 1.00%
• DSCR: 1.04
• GRM: 9.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -14.7%
• Equity multiple: 0.47×
• Total profit: $-17,497
• Equity at exit: $17,743

10-year hold

• IRR: -6.0%
• Equity multiple: 0.61×
• Total profit: $-12,891
• Equity at exit: $10,289

Cash invested: $33,320 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 91 Strongly Landlord-Friendly
• State Idaho: 91 Strongly Landlord-Friendly · R+18
• County: — inherits STATE
• City: — inherits STATE

3-day pay-or-quit; preempted; minimal tenant protections.

Methodology + full state rankings →

ZIP-level market 83869

• Home prices YoY: -19.3%
• Active inventory: 105
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $1,076 medium
• Mortgage (P&I): −$624
• Tax est. 1.5%: −$149 /mo · $1,785/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$226
• Net cashflow: $28

Break-even live

Break-even rent $1,041

Max offer price $119,000

Occupancy floor 92%

Sensitivity live

Price	-10% $110	-5% $69	+0% $28	+5% $-13	+10% $-54
Rent	-10% $-57	-5% $-15	+0% $28	+5% $70	+10% $113
Rate	-1.0pp $88	-0.5pp $58	base $28	+0.5pp $-3	+1.0pp $-34

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $29,750
• Closing costs: $3,570
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-06-21
   days on market $119,000 Active 16 DOM
2. 2026-06-19
   days on market $119,000 Active 14 DOM
3. 2026-06-18
   days on market $119,000 Active 13 DOM
4. 2026-06-17
   days on market $119,000 Active 12 DOM
5. 2026-06-16
   days on market $119,000 Active 11 DOM
6. 2026-06-15
   days on market $119,000 Active 10 DOM
7. 2026-06-14
   days on market $119,000 Active 8 DOM
8. 2026-06-13
   days on market $119,000 Active 7 DOM
9. 2026-06-10
   days on market $119,000 Active 5 DOM
10. 2026-06-09
    days on market $119,000 Active 4 DOM
11. 2026-06-08
    days on market $119,000 Active 3 DOM
12. 2026-06-07
    remarks 667-char remark
13. 2026-06-07
    listed $119,000 Active 2 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 2/10 Low 7 d/yr ≥90°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 9/10 Extreme 16 unhealthy d/yr today · 20 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,914
• − Mortgage interest: −$6,666
• − Property taxes: −$1,785
• − Insurance: −$595
• − Repairs & maintenance: −$1,033
• − Management: −$1,033
• − Depreciation: −$3,462
• Taxable loss: −$1,660
• Est. tax savings @ 24.0%: +$398
• After-tax cash flow: $732/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab

This completely remodeled mobile home is in good condition with new flooring, updated kitchen and bathroom, and a fresh paint job. It's move-in ready and offers a great value for both resale and rental.

Value-add opportunities

• Both landscaping — enhances curb appeal and property value
• Both painting — fresh paint improves aesthetics and value
• Both landscaping — enhances curb appeal and property value

Renovation cost estimate screening

Value-add ROI direction

• Both landscaping — enhances curb appeal and property value ↑
• Both painting — fresh paint improves aesthetics and value ↑
• Both landscaping — enhances curb appeal and property value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Lakeland District
• NCES district ID: 1601800
• Math proficiency: 41% ▼ -6.00%
• Reading proficiency: 57% ▼ -2.00%
• Median HH income: $52,454
• Composite: 42.13/100
• National rank: #3310
• State rank: #34 of 92 in ID

Livability — Spirit Lake

• Score: 66/100
• State rank: #114
• US rank: #12060

Category grades

Amenities F Commute F Cost of living A Crime A- Employment D+ Housing A+ Health & safety F User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 5,278

Population outlook (Kootenai County) Hauer SSP2

• Today (2025): 177,692 people
• By 2030: 190,689 · +7.3%
• By 2040: 214,704 · +20.8%
• By 2050: 236,510 · +33.1%
• By 2075: 285,984 · +60.9%
• By 2100: 316,459 · +78.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Two or more races 11% Hispanic / Latino 9%
• Hispanic origin (detail): Mexican 5% Cuban 2%
• Common ancestry: Slovak 7% Romanian 4% Lithuanian 4%
• Foreign-born: 0%
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Kootenai

• 2024 margin: Solid R (+51.9) · D 22.9% · R 74.8% · Other 2.2%
• 2008→2024 swing: -25.6pp toward R · 2008: -26.3pp · 2024: -51.9pp
• All cycles: 2024: R+51.9 2020: R+42.9 2016: R+42.5 2012: R+34.3 2008: R+26.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -73.46%
• Current HPI: 307.8853
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 4.51%
• F500 in state: 6

Industry mix (Fortune 500 HQ in ID)

Industry	F500 HQs	Revenue
▸Retail	1	$79B
▸Technology	1	$25B
▸Food / Agriculture	1	$6B

Price history

-20.1% since first listed

4 events — show timeline

• 2026-06-05 Listed $119,000 CDAMLS
• 2021-11-15 Pending — CDAMLS
• 2021-11-11 Price Changed $139,900 CDAMLS
• 2021-10-30 Listed $148,900 CDAMLS