1015 N Fir St Trailer 46 #46

Jerome, ID 83338

$62,000C-

3 bd · 1.0 ba · 890 sqft · Built 1984 · Manufactured · Pending · 6 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,078/mo
• Mortgage (P&I): −$325
• Tax + insurance: −$103
• HOA: −$450
• Vac / Maint / Mgmt: −$226
• Net cashflow: $-27/mo
• Annual: $-321/yr
• Cap rate: 5.77%
• Cash-on-cash: -1.85%
• DSCR: 0.92
• 1% rule: 1.74%
• Cash to close: $17,360

Investor read

• This is a 3-bed/1.0-bath manufactured listed at $62k.
• At list price, monthly cash flow is $-27 ($-321/yr) — negative.
• To cash-flow at today's rent, offer at most $58k (6.2% below list).
• Meets the 1% rule at list price ($1k rent vs $62k).
• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $58k (6.2% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $429 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 73/100 on livability (#39 in ID) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D+, amenities F, commute F.
• Jerome Joint District (town): math 22% / reading 37% proficiency, ranked #86 of 92 in ID (top 94%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Jefferson Elementary School (math 22% / reading 27%, grade F, #332 of 357 statewide, top 95%, 583 students, 64% FRL); Jerome Middle School (math 22% / reading 41%, grade F, #93 of 109 statewide, top 85%, 973 students, 57% FRL); Jerome High School (math 8% / reading 38%, grade F, #140 of 169 statewide, top 83%, 1,215 students, 45% FRL) — zoned schools at 55% FRL track the district average.
• Watch-outs: HOA is 42% of rent.
• Market conditions: 215 active listings in the ZIP; 99 units permitted in Jerome County in 2024 (0 in 5+ unit buildings).
• Jerome County population projected at +8% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 2 sale attempts 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.
• Cap rate 5.8% vs local median 1.6% in Jerome — 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

• 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?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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?
• 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.