614 Florence Ave

Craigmont, ID 83523

$89,900C

1 bd · 1.0 ba · 674 sqft · Built 1926 · SingleFamily · Active · 6 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $806/mo
• Mortgage (P&I): −$471
• Tax + insurance: −$56
• HOA: −$0
• Vac / Maint / Mgmt: −$169
• Net cashflow: $109/mo
• Annual: $1,306/yr
• Cap rate: 7.75%
• Cash-on-cash: 5.19%
• DSCR: 1.23
• 1% rule: 0.90%
• Cash to close: $25,172

Investor read

• This is a 1-bed/1.0-bath single-family listed at $90k.
• At list price, monthly cash flow is $109 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $81k (10.4% below list).
• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $81k (10.4% below list) — sets the bar for 1% rule.
• In year one you build about $4k of equity ($622 loan paydown + $3k appreciation (3.4% local appreciation)).
• Location reads 67/100 on livability (#92 in ID) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: employment C-, health & safety C-, schools D.
• Highland Joint District (rural): math 25% / reading 45% proficiency, ranked #112 of 133 in ID (top 84%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: built in 1926 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 16 active listings in the ZIP; 27 units permitted in Lewis County in 2024 (0 in 5+ unit buildings).
• Lewis County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (3.4% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• Built in 1926 — 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 D-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.