240 Bellin Rd Unit 2A

Idaho Falls, ID 83401

$70,000B

0 bd · 1.5 ba · 924 sqft · Built 1981 · Manufactured · Active · 24 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,045/mo
• Mortgage (P&I): −$367
• Tax + insurance: −$49
• HOA: −$0
• Vac / Maint / Mgmt: −$219
• Net cashflow: $409/mo
• Annual: $4,906/yr
• Cap rate: 13.30%
• Cash-on-cash: 25.03%
• DSCR: 2.11
• 1% rule: 1.49%
• Cash to close: $19,600

Investor read

• This is a ?-bed/1.5-bath manufactured listed at $70k.
• At list price, monthly cash flow is $409 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• It's been on market 24 days — a 2% lower offer ($69k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $69k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $484 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 86/100 on livability (#3 in ID, #428 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, cost of living A+, housing A+.
• Idaho Falls District (urban): math 36% / reading 50% proficiency, ranked #54 of 92 in ID (top 59%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Fox Hollow Elementary School (math 34% / reading 46%, grade F, #227 of 357 statewide, top 65%, 457 students, 58% FRL); Eagle Rock Middle School (math 35% / reading 53%, grade D, #57 of 109 statewide, top 54%, 776 students, 46% FRL); Skyline Senior High School (math 30% / reading 47%, grade F, #98 of 169 statewide, top 58%, 1,321 students, 31% FRL) — zoned schools at 45% FRL track the district average.
• Market conditions: Rents flat; 401 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 2,253 units permitted in Bonneville County in 2024 (1,051 in 5+ unit buildings).
• Bonneville County population projected at +18% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 0.5% rent growth), your $20k cash investment doubles in ~6 years — after that, you're playing with house money.
• This rent is only 16% of the median local income ($78k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Questions for listing agent

• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.