1448 Malta Ave

Burley, ID 83318

$185,000D

3 bd · 1.0 ba · 1,160 sqft · Built 1948 · Other · Active · 42 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,479/mo
• Mortgage (P&I): −$970
• Tax + insurance: −$164
• HOA: −$0
• Vac / Maint / Mgmt: −$311
• Net cashflow: $34/mo
• Annual: $412/yr
• Cap rate: 6.52%
• Cash-on-cash: 0.79%
• DSCR: 1.04
• 1% rule: 0.80%
• Cash to close: $51,800

Investor read

• This is a 3-bed/1.0-bath other listed at $185k.
• At list price, monthly cash flow is $34 ($412/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 $148k (20.1% below list).
• It's been on market 42 days — a 3% lower offer ($179k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $148k (20.1% below list) — sets the bar for 1% rule.
• 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 74/100 on livability (#32 in ID, #4,536 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D+, amenities F, commute F.
• Cassia County Joint District (town): math 37% / reading 47% proficiency, ranked #59 of 92 in ID (top 64%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Dworshak Elementary School (math 45% / reading 50%, grade D, #175 of 357 statewide, top 49%, 405 students, 60% FRL); Burley Junior High School (math 32% / reading 39%, grade F, #80 of 109 statewide, top 74%, 550 students, 46% FRL); Burley Senior High School (math 26% / reading 47%, grade F, #105 of 169 statewide, top 63%, 1,055 students, 39% FRL).
• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 119 active listings in the ZIP; 140 units permitted in Cassia County in 2024 (0 in 5+ unit buildings).
• Cassia County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• Cap rate 6.5% vs local median 2.3% in Burley — 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 42 days. Have you received any prior offers? Is the seller open to a 20% concession, seller financing, or rate buy-down credit?
• Built in 1948 — 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.