2510 Powderhorn Pl

Caldwell, ID 83605

$92,500B-

2 bd · 1.0 ba · 728 sqft · Built 2014 · Manufactured · Active · 52 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,295/mo
• Mortgage (P&I): −$485
• Tax + insurance: −$65
• HOA: −$0
• Vac / Maint / Mgmt: −$272
• Net cashflow: $473/mo
• Annual: $5,680/yr
• Cap rate: 12.43%
• Cash-on-cash: 21.93%
• DSCR: 1.98
• 1% rule: 1.40%
• Cash to close: $25,900

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $92k.
• At list price, monthly cash flow is $473 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $92k).
• It's been on market 52 days — a 3% lower offer ($90k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $90k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $640 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 67/100 on livability (#88 in ID) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime C-, employment D+, amenities F.
• Caldwell District (suburban): math 17% / reading 31% proficiency, ranked #90 of 92 in ID (top 98%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 72% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Washington Elementary School (math 12% / reading 16%, grade F, #355 of 357 statewide, top 99%, 508 students, 91% FRL); Caldwell Senior High School (math 16% / reading 38%, grade F, #131 of 169 statewide, top 77%, 1,474 students, 76% FRL).
• Market conditions: Rents rising (+2.7%/yr); 341 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); 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.
• 2 sale attempts since 6y 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.
• At projected returns (-3.0% appreciation + 2.7% rent growth), your $26k cash investment doubles in ~6 years — after that, you're playing with house money.
• Cap rate 12.4% vs local median 3.1% in Caldwell — 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 52 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• 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?
• 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.