108 N 3rd St E

Paul, ID 83347

$120,000D

2 bd · 1.0 ba · 894 sqft · Built 1944 · SingleFamily · Pending · 53 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $865/mo
• Mortgage (P&I): −$629
• Tax + insurance: −$82
• HOA: −$0
• Vac / Maint / Mgmt: −$182
• Net cashflow: $-28/mo
• Annual: $-332/yr
• Cap rate: 6.02%
• Cash-on-cash: -0.99%
• DSCR: 0.96
• 1% rule: 0.72%
• Cash to close: $33,600

Investor read

• This is a 2-bed/1.0-bath single-family listed at $120k.
• At list price, monthly cash flow is $-28 ($-332/yr) — negative.
• To cash-flow at today's rent, offer at most $115k (4.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $87k (27.9% below list).
• It's been on market 53 days — a 3% lower offer ($116k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $87k (27.9% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $830 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 68/100 on livability (#80 in ID) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety C-, amenities F, commute F.
• Minidoka County Joint District (town): math 24% / reading 38% proficiency, ranked #85 of 92 in ID (top 92%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Paul Elementary School (math 32% / reading 46%, grade F, #247 of 357 statewide, top 70%, 502 students, 53% FRL); West Minico Middle School (math 22% / reading 36%, grade F, #95 of 109 statewide, top 88%, 529 students, 55% FRL); Minico Senior High School (math 25% / reading 43%, grade F, #115 of 169 statewide, top 68%, 1,211 students, 49% FRL).
• Watch-outs: built in 1944 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 17 active listings in the ZIP; 144 units permitted in Minidoka County in 2024 (0 in 5+ unit buildings).
• Minidoka County population projected at +7% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 3 sale attempts since 7y ago; this cycle's ask has dropped $10k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 53 days. Have you received any prior offers? Is the seller open to a 28% concession, seller financing, or rate buy-down credit?
• Built in 1944 — 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 F-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.