1715 W Flamingo Ave Trlr 3 Trlr 3

Nampa, ID 83651-1666

$29,900D+

3 bd · 1.0 ba · 800 sqft · Built 1969 · Manufactured · Active · 98 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,438/mo
• Mortgage (P&I): −$157
• Tax + insurance: −$34
• HOA: −$540
• Vac / Maint / Mgmt: −$302
• Net cashflow: $405/mo
• Annual: $4,857/yr
• Cap rate: 22.54%
• Cash-on-cash: 58.01%
• DSCR: 3.58
• 1% rule: 4.81%
• Cash to close: $8,372

Investor read

• This is a 3-bed/1.0-bath manufactured listed at $30k.
• At list price, monthly cash flow is $405 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $30k).
• It's been on market 98 days — a 9% lower offer ($27k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $27k (9.0% below list) — sets the bar for market timing.
• In year one you build about $1k of equity ($207 loan paydown + $897 appreciation (3.0% local appreciation)).
• Location reads 72/100 on livability (#47 in ID) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living A-; Watch: employment C-, amenities F, commute F.
• Vallivue School District (rural): math 34% / reading 56% proficiency, ranked #48 of 92 in ID (top 52%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: East Canyon Elementary School (math 34% / reading 44%, grade F, #247 of 357 statewide, top 70%, 692 students, 33% FRL); Ridgevue High School (math 27% / reading 67%, grade D-, #55 of 169 statewide, top 34%, 1,578 students, 31% FRL) — zoned schools average 32% FRL vs 52% district-wide (20 pts lower); this property's tenant base skews higher-income than the district average.
• Watch-outs: HOA is 38% of rent.
• Market conditions: 1 active listings in the ZIP; 38 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); 3,620 units permitted in Canyon County in 2024 (196 in 5+ unit buildings).
• Canyon County population projected at +41% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 3 sale attempts since 13y ago; this cycle's ask has dropped $28k (48%) 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 $8k cash investment doubles in ~2 years — after that, you're playing with house money.
• Cap rate 22.5% vs local median 3.1% in Nampa — 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

• It's been on market 98 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• Built in 1969 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.
• 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.