2243 W Gueneveres Way

Post Falls, ID 83854

$99,500B

3 bd · 2.0 ba · 938 sqft · Built 1992 · Manufactured · Active · 2 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,919/mo
• Mortgage (P&I): −$522
• Tax + insurance: −$166
• HOA: −$0
• Vac / Maint / Mgmt: −$403
• Net cashflow: $828/mo
• Annual: $9,939/yr
• Cap rate: 16.28%
• Cash-on-cash: 35.68%
• DSCR: 2.59
• 1% rule: 1.93%
• Cash to close: $27,860

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $100k.
• At list price, monthly cash flow is $828 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $688 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 88/100 on livability (#1 in ID, #198 nationally) — a professional / high-income tenant draw. Strengths: crime A+, commute A+, housing A+.
• Post Falls District (suburban): math 43% / reading 56% proficiency, ranked #31 of 92 in ID (top 34%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+1.5%/yr); 625 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 1,606 units permitted in Kootenai County in 2024 (154 in 5+ unit buildings).
• Kootenai County population projected at +33% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 13 sale attempts since 18y ago; this cycle's ask has dropped $26k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (-3.0% appreciation + 1.5% rent growth), your $28k cash investment doubles in ~4 years — after that, you're playing with house money.
• Cap rate 16.3% vs local median 2.2% in Post Falls — 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

• 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.