2233 W Merlyn Way · Post Falls, ID 83854

$134,900

2 bd · 1.0 ba · 784 sqft · SingleFamily · 23 Days on market

Built 1995 Good condition

---

Why this score? — see what drove the B- 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 +27.4/30.0
• DSCR +9.6/10.0
• 1% rule +7.5/10.0
• ARV discount +7.5/15.0
• Livability +4.4/5.0
• Schools +4.2/10.0
• Condition / age +4.0/5.0
• Rent growth +2.9/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

A little Idaho gem! 2 bedroom 1 bathroom 1995. manufactured home in Comelot Estates, Newer garage, newer central air conditioning, newer furnace and water heater, new roof. Fully fenced back yard with sprinkler system. Easy access to I90. Community clubhouse, pool, hot tub, playgroiund and RV parking area. Space rent $485 includes water, sewer, garbage and snow removal.

Key facts

• Clubhouse
• Community amenities
• Sprinkler system

Tags

• RECENT INTERIOR UPDATES
• DETACHED GARAGE
• FULLY FENCED BACKYARD
• SPRINKLER SYSTEM
• COMMUNITY AMENITIES
• CLUBHOUSE

Property features AI

Finance

• HOA & community: Association covers grounds maintenance, sewer, trash and water

Exterior

• Parking: Paved parking
• Utilities: Public sewer; Community water system
• Home design: Manufactured home; Single-story (main living on one level)
• Construction: T1-11 siding; Metal roof; Pillar/post/pier foundation; Built as a manufactured structure
• Exterior features: Covered porch; Lawn; Back yard fencing; Sprinklers in front and rear; Open, landscaped, level lot; Paved road access (private maintained road); Has a view

Interior

• Kitchen: Electric range; Refrigerator; Dishwasher
• Bedrooms: 2 bedrooms on the main level
• Flooring: LVP
• Bathrooms: 1 bathroom on the main level
• Heating & cooling: Natural gas and electric heating; Forced air furnace; Central air conditioning
• Interior features: Washer hookup; Crawl space basement (no finished basement)
• Laundry & utility: Washer; Electric dryer (electric dryer hookup); Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $135k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $396 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $135k).
• Recommended offer: $133k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.8% vs local median 2.4% 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.

Location & tenants

• 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $933 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 23 days — a 2% lower offer ($133k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y ago; this cycle's ask is 4% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Recommended offer $132,876 (1.5% 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. 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.
3. 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.
4. 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: 1.25% ✓
• Cap rate: 9.82%
• Cash-on-cash: 12.59%
• DSCR: 1.56
• GRM: 6.7

CMA / ARV

• ARV (on-the-fly): $88,592
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2217 W Jester Way	0.09mi	2/1.0	672 (-14%)	0mo	$125,000	$186	72
994 N Haven Ct #44	0.30mi	2/2.0	768 (-2%)	17mo	$9,500	$12	65
1006 Maranatha Dr #36	0.33mi	2/1.0	732 (-7%)	12mo	$65,000	$89	63
3252 W Peery Loop	0.65mi	2/1.0	720 (-8%)	12mo	$69,000	$96	46
3200 W Peery Loop	0.62mi	2/1.0	728 (-7%)	23mo	$89,900	$123	40
3290 w Peery Loop	0.68mi	2/1.5	672 (-14%)	21mo	$76,000	$113	25

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 1.46% rent growth · sell at horizon

5-year hold

• IRR: 0.6%
• Equity multiple: 1.02×
• Total profit: $833
• Equity at exit: $20,114

10-year hold

• IRR: 8.6%
• Equity multiple: 1.61×
• Total profit: $23,110
• Equity at exit: $11,664

Cash invested: $37,772 (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 83854

• Rents YoY: 1.5%
• Active inventory: 625
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $1,682 medium
• Mortgage (P&I): −$707
• Tax est. 1.5%: −$169 /mo · $2,024/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$353
• Net cashflow: $396

Break-even live

Break-even rent $1,180

Max offer price $134,900

Occupancy floor 71%

Sensitivity live

Price	-10% $489	-5% $443	+0% $396	+5% $350	+10% $303
Rent	-10% $263	-5% $330	+0% $396	+5% $463	+10% $529
Rate	-1.0pp $464	-0.5pp $430	base $396	+0.5pp $361	+1.0pp $326

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: $33,725
• Closing costs: $4,047
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3446 Lilac Ct Unit 3446C Post Falls, ID	3.0	1.5	1100	$1,595	$1.45	14d	1	0.79mi
848 N Chase Rd #205 Post Falls, ID	2.0	2.0	1044	$1,750	$1.68	14d	1	0.95mi

Listing history 5 events

1. 2026-05-08
   status Pending
2. 2026-04-24
   price $134,900
3. 2026-04-14
   listed $129,900 Active
4. 2023-06-30
   status Pending 373-char remark

   Show marketing remark (373 chars)

   A little Idaho gem! 2 bedroom 1 bathroom 1995. manufactured home in Comelot Estates, Newer garage, newer central air conditioning, newer furnace and water heater, new roof. Fully fenced back yard with sprinkler system. Easy access to I90. Community clubhouse, pool, hot tub, playgroiund and RV parking area. Space rent $485 includes water, sewer, garbage and snow removal.

5. 2023-06-23
   listed $122,000 Active 373-char remark

   Show marketing remark (373 chars)

   A little Idaho gem! 2 bedroom 1 bathroom 1995. manufactured home in Comelot Estates, Newer garage, newer central air conditioning, newer furnace and water heater, new roof. Fully fenced back yard with sprinkler system. Easy access to I90. Community clubhouse, pool, hot tub, playgroiund and RV parking area. Space rent $485 includes water, sewer, garbage and snow removal.

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

Taxation est. · year 1

• Rental income: $20,179
• − Mortgage interest: −$7,556
• − Property taxes: −$2,024
• − Insurance: −$674
• − Repairs & maintenance: −$1,614
• − Management: −$1,614
• − Depreciation: −$3,924
• Taxable income: $2,771
• Est. tax owed @ 24.0%: −$665
• After-tax cash flow: $4,089/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 manufactured home in Camelot Estates is in good condition with recent updates throughout. It offers a well-maintained exterior, modern interiors, and a fully fenced yard with a sprinkler system. The property is ready for a new owner and can be further enhanced with some exterior painting and landscaping.

Value-add opportunities

• Both Paint exterior — Fresh paint can enhance curb appeal and value
• Both Landscaping — Well-maintained landscaping can improve curb appeal and rental value
• Both Replace windows — Newer windows can improve energy efficiency and increase value

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior — Fresh paint can enhance curb appeal and value ↑
• Both Landscaping — Well-maintained landscaping can improve curb appeal and rental value ↑
• Both Replace windows — Newer windows can improve energy efficiency and increase 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: Post Falls District
• NCES district ID: 1602670
• Math proficiency: 43% ▼ -5.00%
• Reading proficiency: 56% ▬ 0.00%
• Median HH income: $49,504
• Composite: 42.27/100
• National rank: #3268
• State rank: #31 of 92 in ID

Livability — Post Falls

• Score: 88/100
• State rank: #1
• US rank: #198

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Post Falls, ID
• County: Kootenai County · 146,553 people
• City population: 54,851
• Metro: Coeur d'Alene, ID
• Population (ZIP): 54,851
• Household income: $82,742
• Rent vs Own: 32.1% rent · 67.9% own
• Severe rent burden: 1218.0

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 10% Hispanic / Latino 6% Native American 1%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Portuguese 4% Italian 3% Slovak 2%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 2%

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: ▼ -259.70%
• Current HPI: 259.7767
• Rent YoY: ▲ 1.46%
• Metro: Coeur d'Alene, ID
• 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

+10.6% since first listed

5 events — show timeline

• 2026-05-08 Pending — CDAMLS
• 2026-04-24 Price Changed $134,900 CDAMLS
• 2026-04-14 Listed $129,900 CDAMLS
• 2023-06-30 Pending — CDAMLS
• 2023-06-23 Listed $122,000 CDAMLS