757 Normal Ave. #c-6 Ave

Burley, ID 83318

$30,000D

3 bd · 1.0 ba · 960 sqft · Built 1970 · Manufactured · Active · 128 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,420/mo
• Mortgage (P&I): −$157
• Tax + insurance: −$41
• HOA: −$610
• Vac / Maint / Mgmt: −$298
• Net cashflow: $313/mo
• Annual: $3,759/yr
• Cap rate: 18.82%
• Cash-on-cash: 44.75%
• DSCR: 2.99
• 1% rule: 4.73%
• Cash to close: $8,400

Investor read

• This is a 3-bed/1.0-bath manufactured listed at $30k.
• At list price, monthly cash flow is $313 ($4k/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 128 days — a 12% lower offer ($26k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $26k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $207 of loan paydown is wiped out by about $900 of value loss. Plan a longer hold.
• Location reads 74/100 on livability (#32 in ID, #4,536 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D+, amenities F, commute F.
• Cassia County Joint District (town): math 37% / reading 47% proficiency, ranked #59 of 92 in ID (top 64%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Dworshak Elementary School (math 45% / reading 50%, grade D, #175 of 357 statewide, top 49%, 405 students, 60% FRL); Burley Senior High School (math 26% / reading 47%, grade F, #105 of 169 statewide, top 63%, 1,055 students, 39% FRL).
• Watch-outs: HOA is 43% of rent.
• Market conditions: 117 active listings in the ZIP; 140 units permitted in Cassia County in 2024 (0 in 5+ unit buildings).
• Cassia County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 2 sale attempts; this cycle's ask has dropped $10k (25%) 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 ~3 years — after that, you're playing with house money.
• Cap rate 18.8% vs local median 2.3% in Burley — 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 128 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1970 — 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.