2909 Salubria Rd

Cambridge, ID 83610-0000

$199,000D

3 bd · 1.0 ba · 1,216 sqft · Built 1905 · SingleFamily · Pending · 4 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,197/mo
• Mortgage (P&I): −$1,044
• Tax + insurance: −$134
• HOA: −$0
• Vac / Maint / Mgmt: −$251
• Net cashflow: $-232/mo
• Annual: $-2,782/yr
• Cap rate: 4.90%
• Cash-on-cash: -4.99%
• DSCR: 0.78
• 1% rule: 0.60%
• Cash to close: $55,720

Investor read

• This is a 3-bed/1.0-bath single-family listed at $199k.
• At list price, monthly cash flow is $-232 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $158k (20.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $120k (39.8% below list).
• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $120k (39.8% below list) — sets the bar for 1% rule.
• In year one you build about $7k of equity ($1k loan paydown + $6k appreciation (3.0% local appreciation)).
• Location reads 62/100 on livability (#174 in ID) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A-; Watch: amenities F, commute F, employment F.
• Cambridge Joint District (rural): math 40% / reading 45% proficiency, ranked #89 of 133 in ID (top 67%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Cambridge Elementary School (math 64% / reading 54%, grade B-, #75 of 357 statewide, top 23%, 71 students, 49% FRL); Cambridge Middle/High School (math 34% / reading 44%, grade F, #87 of 169 statewide, top 57%, 81 students, 41% FRL) — zoned schools at 45% FRL track the district average.
• Watch-outs: built in 1905 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 1 active listings in the ZIP; 164 units permitted in Washington County in 2024 (0 in 5+ unit buildings).
• Washington County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 5, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• Built in 1905 — 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.
• 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.
• 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.