7701 W Ustick Rd Spc 14

Boise City, ID 83646

$75,000C+

2 bd · 1.0 ba · 720 sqft · Built 1973 · Manufactured · Active · 48 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,430/mo
• Mortgage (P&I): −$393
• Tax + insurance: −$125
• HOA: −$0
• Vac / Maint / Mgmt: −$300
• Net cashflow: $611/mo
• Annual: $7,332/yr
• Cap rate: 16.07%
• Cash-on-cash: 34.92%
• DSCR: 2.55
• 1% rule: 1.91%
• Cash to close: $21,000

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $75k. Condition is rated good.
• At list price, monthly cash flow is $611 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).
• It's been on market 48 days — a 3% lower offer ($73k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $73k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $519 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Boise Independent District (urban): math 42% / reading 56% proficiency, ranked #36 of 92 in ID (top 39%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Mountain View Elementary School (math 42% / reading 47%, grade F, #199 of 357 statewide, top 59%, 312 students, 31% FRL); Capital Senior High School (math 34% / reading 57%, grade D-, #59 of 169 statewide, top 35%, 1,220 students, 28% FRL) — zoned schools at 29% FRL track the district average.
• Market conditions: Rents rising fast (+4.2%/yr); 904 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 5,129 units permitted in Ada County in 2024 (414 in 5+ unit buildings).
• Ada County population projected at +45% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 4 sale attempts since 3y 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.
• At projected returns (-3.0% appreciation + 4.2% rent growth), your $21k cash investment doubles in ~4 years — after that, you're playing with house money.
• Cap rate 16.1% vs local median 2.6% in Boise City — 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 is only 17% of the median local income ($103k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Questions for listing agent

• It's been on market 48 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1973 — 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.
• 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.