308 W Ave G

Wendell, ID 83355

$38,000C+

2 bd · 1.0 ba · 840 sqft · Built 1971 · Manufactured · Pending · 90 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $670/mo
• Mortgage (P&I): −$199
• Tax + insurance: −$27
• HOA: −$0
• Vac / Maint / Mgmt: −$141
• Net cashflow: $303/mo
• Annual: $3,635/yr
• Cap rate: 15.86%
• Cash-on-cash: 34.16%
• DSCR: 2.52
• 1% rule: 1.76%
• Cash to close: $10,640

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $38k.
• At list price, monthly cash flow is $303 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($670 rent vs $38k).
• It's been on market 90 days — a 6% lower offer ($36k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $36k (6.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $263 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Location reads 64/100 on livability (#155 in ID) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A, crime A-; Watch: health & safety C-, employment D, amenities F.
• Wendell District (rural): math 19% / reading 38% proficiency, ranked #88 of 92 in ID (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Wendell Elementary School (math 22% / reading 32%, grade F, #318 of 357 statewide, top 92%, 458 students, 75% FRL); Wendell Middle School (math 17% / reading 36%, grade F, #100 of 109 statewide, top 93%, 341 students, 59% FRL); Wendell High School (math 27% / reading 62%, grade F, #61 of 169 statewide, top 41%, 322 students, 43% FRL) — zoned schools at 59% FRL track the district average.
• Market conditions: 12 active listings in the ZIP; 52 units permitted in Gooding County in 2024 (0 in 5+ unit buildings).
• Gooding County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $11k cash investment doubles in ~4 years — after that, you're playing with house money.
• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 90 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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 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.