514 E13 Sawyer St Unit E13

Cascade, ID 83611

$199,500D+

1 bd · 1.0 ba · 655 sqft · Built 1997 · SingleFamily · Active · 114 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,009/mo
• Mortgage (P&I): −$1,046
• Tax + insurance: −$332
• HOA: −$55
• Vac / Maint / Mgmt: −$422
• Net cashflow: $153/mo
• Annual: $1,841/yr
• Cap rate: 7.22%
• Cash-on-cash: 3.30%
• DSCR: 1.15
• 1% rule: 1.01%
• Cash to close: $55,860

Investor read

• This is a 1-bed/1.0-bath single-family listed at $200k.
• At list price, monthly cash flow is $153 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $200k).
• It's been on market 114 days — a 9% lower offer ($182k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $182k (9.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Location reads 66/100 on livability (#116 in ID) — a middle-class / working-renter tenant base. Strengths: housing A+, cost of living A, crime A-; Watch: employment C-, amenities F, commute F.
• Emmett Independent District (town): math 33% / reading 43% proficiency, ranked #73 of 92 in ID (top 79%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Shadow Butte Elementary School (math 41% / reading 35%, grade F, #251 of 357 statewide, top 71%, 463 students, 40% FRL); Emmett Middle School (math 30% / reading 45%, grade F, #75 of 109 statewide, top 69%, 533 students, 39% FRL); Emmett High School (math 42% / reading 67%, grade C-, #26 of 169 statewide, top 17%, 737 students, 23% FRL) — zoned schools average 34% FRL vs 49% district-wide (15 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 410 active listings in the ZIP; 198 units permitted in Gem County in 2024 (0 in 5+ unit buildings).
• Gem County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 2 sale attempts since 6y ago; this cycle's ask has dropped $30k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Cap rate 7.2% vs local median 3.6% in Cascade — 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 114 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• 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.
• 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.