6677 Kaniksu Street Space E5

Bonners Ferry, ID 83805

$64,000B-

2 bd · 1.0 ba · 624 sqft · Built 1971 · Manufactured · Active · 35 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $822/mo
• Mortgage (P&I): −$336
• Tax + insurance: −$107
• HOA: −$0
• Vac / Maint / Mgmt: −$173
• Net cashflow: $207/mo
• Annual: $2,487/yr
• Cap rate: 10.18%
• Cash-on-cash: 13.88%
• DSCR: 1.62
• 1% rule: 1.28%
• Cash to close: $17,920

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $64k. Condition is rated fair.
• At list price, monthly cash flow is $207 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($822 rent vs $64k).
• It's been on market 35 days — a 3% lower offer ($62k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $62k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $442 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 63/100 on livability (#154 in ID) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime A-, housing B+; Watch: schools D+, amenities F, commute F.
• Boundary County District (town): math 40% / reading 58% proficiency, ranked #42 of 92 in ID (top 46%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 181 active listings in the ZIP; 69 units permitted in Boundary County in 2024 (0 in 5+ unit buildings).
• 19 sale attempts since 15y ago 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~9 years — after that, you're playing with house money.
• Cap rate 10.2% vs local median 0.8% in Bonners Ferry — 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

• It's been on market 35 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1971 — 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.

Repairs flagged (vision-AI assessment)

• Minor: exterior siding — gray siding with some wear
• Unknown: HVAC/mechanicals — photos do not show HVAC/mechanicals
• Major: landscaping — bare lot, no landscaping