1088 E Rose Island St

Nampa, ID 83686-8574

$449,500C

4 bd · 2.5 ba · 2,024 sqft · Built 2018 · Other · Active · 118 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $4,429/mo
• Mortgage (P&I): −$2,357
• Tax + insurance: −$336
• HOA: −$28
• Vac / Maint / Mgmt: −$930
• Net cashflow: $778/mo
• Annual: $9,332/yr
• Cap rate: 8.37%
• Cash-on-cash: 7.41%
• DSCR: 1.33
• 1% rule: 0.99%
• Cash to close: $125,860

Investor read

• This is a 4-bed/2.5-bath other listed at $450k.
• At list price, monthly cash flow is $778 ($9k/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 $443k (1.5% below list).
• It's been on market 118 days — a 9% lower offer ($409k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $409k (9.0% below list) — sets the bar for market timing.
• In year one you build about $17k of equity ($3k loan paydown + $13k appreciation (3.0% local appreciation)).
• 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: Lake Ridge Elementary (math 39% / reading 42%, grade F, #223 of 357 statewide, top 63%, 490 students, 35% FRL); Skyview High School (math 26% / reading 48%, grade F, #100 of 169 statewide, top 61%, 1,152 students, 32% FRL) — zoned schools average 34% FRL vs 51% district-wide (17 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 1 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 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 9y 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 + 3.0% rent growth), your $126k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$41k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 8.4% 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.

Questions for listing agent

• It's been on market 118 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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.
• 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.