5047 E Patchwork Dr Unit Edgewood

Nampa, ID 83686

$393,041D-

3 bd · 2.0 ba · 1,408 sqft · Built 2026 · Other · Pending

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,864/mo
• Mortgage (P&I): −$2,061
• Tax + insurance: −$233
• HOA: −$50
• Vac / Maint / Mgmt: −$601
• Net cashflow: $-82/mo
• Annual: $-982/yr
• Cap rate: 6.04%
• Cash-on-cash: -0.89%
• DSCR: 0.96
• 1% rule: 0.73%
• Cash to close: $110,051

Investor read

• This is a 3-bed/2.0-bath other listed at $393k.
• At list price, monthly cash flow is $-82 ($-982/yr) — negative.
• To cash-flow at today's rent, offer at most $379k (3.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $286k (27.1% below list).
• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $286k (27.1% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k of value loss. Plan a longer hold.
• Location reads 72/100 on livability (#47 in ID) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living A-; Watch: employment C-, amenities F, commute F.
• Nampa School District (suburban): math 23% / reading 41% proficiency, ranked #82 of 92 in ID (top 89%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Columbia High School (math 16% / reading 52%, grade F, #115 of 169 statewide, top 68%, 1,239 students, 39% FRL).
• Market conditions: Rents rising (+3.2%/yr); 544 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 3,620 units permitted in Canyon County in 2024 (196 in 5+ unit buildings).
• Canyon County population projected at +41% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Cap rate 6.0% vs local median 3.2% in Nampa — 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.
• This rent runs 40% of the median local income ($87k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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.