2204 W Pellinore Way · Post Falls, ID 83854

$205,000

3 bd · 2.0 ba · 1,782 sqft · Manufactured · 17 Days on market

Built 1995

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Why this score? — see what drove the C- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +18.2/30.0
• ARV discount +7.5/15.0
• DSCR +5.7/10.0
• 1% rule +4.9/10.0
• Livability +4.4/5.0
• Schools +4.2/10.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

LARGE 3 BEDROOM, 2 BATH WITH A DEN (COULD BE MADE INTO 4TH BEDROOM), MASTER SUITE, CENTRAL A/C AND VINYL SIDING. PARK RENT $265.

Key facts

• Built 1995
• Listed 17 days

Property features AI

Finance

• HOA & community: Camelot Estates association (monthly fees); Association covers grounds maintenance, sewer, snow removal, trash, and water

Exterior

• Parking: Paved parking
• Utilities: Public water; Public sewer
• Home design: Manufactured home; Corner, level lot; Fleetwood make/model
• Construction: Vinyl siding; Composition roof; Pillar/post/pier foundation; Built as a manufactured structure
• Exterior features: Patio; Open deck; Lawn; Front yard fencing; Shed(s)

Interior

• Kitchen: Electric range; Gas water heater; Refrigerator; Microwave; Freezer; Disposal; Dishwasher; Cooktop
• Bedrooms: 3 bedrooms on the main level
• Flooring: Vinyl; Carpet; LVP
• Bathrooms: 3 bathrooms on the main level
• Heating & cooling: Natural gas heating; Forced air; Heat pump; Central air conditioning
• Interior features: Washer hookup; Electric dryer hookup
• Laundry & utility: Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $205k.

Deal economics

• At list price, monthly cash flow is $184 ($2k/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 $203k (1.2% below list).
• Recommended offer: $202k (1.5% below list) — sets the bar for market timing.
• Cap rate 7.4% vs local median 2.2% in Post Falls — 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.

Location & tenants

• Location reads 88/100 on livability (#1 in ID, #198 nationally) — a professional / high-income tenant draw. Strengths: crime A+, commute A+, housing A+.
• Post Falls District (suburban): math 43% / reading 56% proficiency, ranked #31 of 92 in ID (top 34%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+1.5%/yr); 625 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 1,606 units permitted in Kootenai County in 2024 (154 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Kootenai County population projected at +33% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($202k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Recommended offer $201,925 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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.
3. 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.
4. 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.

Investment metrics

• 1% rule: 0.99% ✗
• Cap rate: 7.37%
• Cash-on-cash: 3.84%
• DSCR: 1.17
• GRM: 8.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.46% rent growth · sell at horizon

5-year hold

• IRR: -12.0%
• Equity multiple: 0.57×
• Total profit: $-24,588
• Equity at exit: $30,566

10-year hold

• IRR: -5.3%
• Equity multiple: 0.68×
• Total profit: $-18,531
• Equity at exit: $17,725

Cash invested: $57,400 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 91 Strongly Landlord-Friendly
• State Idaho: 91 Strongly Landlord-Friendly · R+18
• County: — inherits STATE
• City: — inherits STATE

3-day pay-or-quit; preempted; minimal tenant protections.

Methodology + full state rankings →

ZIP-level market 83854

• Rents YoY: 1.5%
• Active inventory: 625
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $2,026 medium
• Mortgage (P&I): −$1,075
• Tax est. 1.5%: −$256 /mo · $3,075/yr
• Insurance: −$85
• HOA: −$0
• Vacancy / Maint / Mgmt: −$425
• Net cashflow: $184

Break-even live

Break-even rent $1,793

Max offer price $205,000

Occupancy floor 86%

Sensitivity live

Price	-10% $325	-5% $254	+0% $184	+5% $113	+10% $42
Rent	-10% $24	-5% $104	+0% $184	+5% $264	+10% $344
Rate	-1.0pp $287	-0.5pp $236	base $184	+0.5pp $130	+1.0pp $76

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $51,250
• Closing costs: $6,150
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
820 N Siony Unit 820D Post Falls, ID	3.0	1.5	1250	$1,650	$1.32	21d	1	0.73mi

Listing history 6 events

1. 2026-05-21
   status Pending
2. 2026-05-13
   status Active
3. 2026-05-08
   status Pending
4. 2026-04-29
   listed $205,000 Active
5. 2007-08-20
   soldstatus 128-char remark

   Show marketing remark (128 chars)

   LARGE 3 BEDROOM, 2 BATH WITH A DEN (COULD BE MADE INTO 4TH BEDROOM), MASTER SUITE, CENTRAL A/C AND VINYL SIDING. PARK RENT $265.

6. 2006-01-27
   soldstatus 97-char remark

   Show marketing remark (97 chars)

   Large 3 bedroom, 2 bath with a den, vaulted ceilings, master suite, central A/C and vinyl siding.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $24,308
• − Mortgage interest: −$11,483
• − Property taxes: −$3,075
• − Insurance: −$1,025
• − Repairs & maintenance: −$1,945
• − Management: −$1,945
• − Depreciation: −$5,964
• Taxable loss: −$1,128
• Est. tax savings @ 24.0%: +$271
• After-tax cash flow: $2,474/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Post Falls District
• NCES district ID: 1602670
• Math proficiency: 43% ▼ -5.00%
• Reading proficiency: 56% ▬ 0.00%
• Median HH income: $49,504
• Composite: 42.27/100
• National rank: #3268
• State rank: #31 of 92 in ID

Livability — Post Falls

• Score: 88/100
• State rank: #1
• US rank: #198

Category grades

Amenities B+ Commute A+ Cost of living B- Crime A+ Employment B Housing A+ Health & safety A+ User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Post Falls, ID
• County: Kootenai County · 146,553 people
• City population: 54,851
• Metro: Coeur d'Alene, ID
• Population (ZIP): 54,851
• Household income: $82,742
• Rent vs Own: 32.1% rent · 67.9% own
• Severe rent burden: 1218.0

Population outlook (Kootenai County) Hauer SSP2

• Today (2025): 177,692 people
• By 2030: 190,689 · +7.3%
• By 2040: 214,704 · +20.8%
• By 2050: 236,510 · +33.1%
• By 2075: 285,984 · +60.9%
• By 2100: 316,459 · +78.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Two or more races 10% Hispanic / Latino 6% Native American 1%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Portuguese 4% Italian 3% Slovak 2%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 2%

Political lean MEDSL · Kootenai

• 2024 margin: Solid R (+51.9) · D 22.9% · R 74.8% · Other 2.2%
• 2008→2024 swing: -25.6pp toward R · 2008: -26.3pp · 2024: -51.9pp
• All cycles: 2024: R+51.9 2020: R+42.9 2016: R+42.5 2012: R+34.3 2008: R+26.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -259.70%
• Current HPI: 259.7767
• Rent YoY: ▲ 1.46%
• Metro: Coeur d'Alene, ID
• State GDP YoY: ▲ 4.51%
• F500 in state: 6

Industry mix (Fortune 500 HQ in ID)

Industry	F500 HQs	Revenue
▸Retail	1	$79B
▸Technology	1	$25B
▸Food / Agriculture	1	$6B

Price history

6 events — show timeline

• 2026-05-21 Pending — CDAMLS
• 2026-05-13 Relisted — CDAMLS
• 2026-05-08 Pending — CDAMLS
• 2026-04-29 Listed $205,000 CDAMLS
• 2007-08-20 Sold (MLS) — CDAMLS
• 2006-01-27 Sold (MLS) — CDAMLS