1600 E Main St #12

Emmett, ID 83617

$59,500B-

2 bd · 1.0 ba · 728 sqft · Built 1977 · Manufactured · Pending · 30 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,384/mo
• Mortgage (P&I): −$312
• Tax + insurance: −$99
• HOA: −$0
• Vac / Maint / Mgmt: −$291
• Net cashflow: $682/mo
• Annual: $8,184/yr
• Cap rate: 20.05%
• Cash-on-cash: 49.12%
• DSCR: 3.19
• 1% rule: 2.33%
• Cash to close: $16,660

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $60k. Condition is rated good.
• At list price, monthly cash flow is $682 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• It's been on market 30 days — a 2% lower offer ($59k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $59k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $411 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 68/100 on livability (#77 in ID) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D, amenities F, commute F.
• Emmett Independent District (town): math 33% / reading 43% proficiency, ranked #73 of 92 in ID (top 79%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Butte View School (205 students, 49% FRL); Emmett Middle School (math 30% / reading 45%, grade F, #75 of 109 statewide, top 69%, 533 students, 39% FRL); Emmett High School (math 42% / reading 67%, grade C-, #26 of 169 statewide, top 17%, 737 students, 23% FRL).
• Market conditions: 335 active listings in the ZIP; 198 units permitted in Gem County in 2024 (0 in 5+ unit buildings).
• Gem County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~3 years — after that, you're playing with house money.
• Cap rate 20.0% vs local median 1.1% in Emmett — 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

• Built in 1977 — 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?
• 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.