1935 S 5th Ave #23

Pocatello, ID 83201

$35,000B

2 bd · 1.0 ba · 0 sqft · Built 2023 · Manufactured · Active · 143 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $982/mo
• Mortgage (P&I): −$184
• Tax + insurance: −$58
• HOA: −$0
• Vac / Maint / Mgmt: −$206
• Net cashflow: $534/mo
• Annual: $6,405/yr
• Cap rate: 24.59%
• Cash-on-cash: 65.35%
• DSCR: 3.91
• 1% rule: 2.81%
• Cash to close: $9,800

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $35k.
• At list price, monthly cash flow is $534 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($982 rent vs $35k).
• It's been on market 143 days — a 12% lower offer ($31k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $31k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $242 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Location reads 84/100 on livability (#7 in ID, #758 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: amenities C-, employment D.
• Pocatello District (urban): math 45% / reading 58% proficiency, ranked #26 of 92 in ID (top 28%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Alameda Middle School (math 46% / reading 57%, grade C, #28 of 109 statewide, top 25%, 645 students, 40% FRL); Pocatello High School (math 45% / reading 65%, grade C, #25 of 169 statewide, top 14%, 1,352 students, 28% FRL).
• Market conditions: Rents rising (+3.4%/yr); 365 active listings in the ZIP; 325 units permitted in Bannock County in 2024 (6 in 5+ unit buildings).
• At projected returns (-3.0% appreciation + 3.4% rent growth), your $10k cash investment doubles in ~2 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.
• This rent is only 18% of the median local income ($66k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Questions for listing agent

• It's been on market 143 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• 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.
• 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.