914 N Midland Blvd #18

Nampa, ID 83651

$180,000F

2 bd · 1.0 ba · 576 sqft · Built 2025 · Manufactured · Active · 290 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,315/mo
• Mortgage (P&I): −$944
• Tax + insurance: −$300
• HOA: −$0
• Vac / Maint / Mgmt: −$276
• Net cashflow: $-205/mo
• Annual: $-2,461/yr
• Cap rate: 4.93%
• Cash-on-cash: -4.88%
• DSCR: 0.78
• 1% rule: 0.73%
• Cash to close: $50,400

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $180k.
• At list price, monthly cash flow is $-205 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $150k (16.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $132k (26.9% below list).
• It's been on market 290 days — a 12% lower offer ($158k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $132k (26.9% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Location reads 72/100 on livability (#47 in ID) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living A-; Watch: employment C-, amenities F, commute F.
• Nampa School District (suburban): math 23% / reading 41% proficiency, ranked #82 of 92 in ID (top 89%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Willow Creek Elementary (math 37% / reading 45%, grade F, #221 of 357 statewide, top 62%, 586 students, 56% FRL); Lone Star Middle School (math 25% / reading 45%, grade F, #82 of 109 statewide, top 76%, 739 students, 45% FRL); Nampa Senior High School (math 14% / reading 48%, grade F, #124 of 169 statewide, top 73%, 1,482 students, 38% FRL) — zoned schools at 46% FRL track the district average.
• Market conditions: Rents rising fast (+6.4%/yr); 324 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 3,620 units permitted in Canyon County in 2024 (196 in 5+ unit buildings).
• Canyon County population projected at +41% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Climate carrying-cost: extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 4.9% vs local median 3.2% in Nampa — 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?
• It's been on market 290 days. Have you received any prior offers? Is the seller open to a 27% 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.
• 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?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.