114 2nd St

Idaho Falls, ID 83401

$110,500D

1 bd · 1.0 ba · 608 sqft · Built 1920 · SingleFamily · Pending · 68 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $913/mo
• Mortgage (P&I): −$579
• Tax + insurance: −$114
• HOA: −$0
• Vac / Maint / Mgmt: −$192
• Net cashflow: $27/mo
• Annual: $328/yr
• Cap rate: 6.59%
• Cash-on-cash: 1.06%
• DSCR: 1.05
• 1% rule: 0.83%
• Cash to close: $30,940

Investor read

• This is a 1-bed/1.0-bath single-family listed at $110k.
• At list price, monthly cash flow is $27 ($328/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $91k (17.4% below list).
• It's been on market 68 days — a 6% lower offer ($104k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $91k (17.4% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $764 of loan paydown is wiped out by about $3k 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: Dora Erickson Elementary School (math 22% / reading 37%, grade F, #306 of 357 statewide, top 88%, 450 students, 75% FRL); Taylorview Middle School (math 39% / reading 57%, grade C-, #39 of 109 statewide, top 36%, 776 students, 34% FRL); Idaho Falls Senior High School (math 27% / reading 57%, grade F, #72 of 169 statewide, top 47%, 1,334 students, 23% FRL) — zoned schools at 44% FRL track the district average.
• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents flat; 401 active listings in the ZIP; 12 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.
• 3 sale attempts since 8y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• This rent is only 14% 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

• It's been on market 68 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
• Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.
• 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.