105 3rd St

Grand View, ID 83624

$240,000D

3 bd · 1.0 ba · 1,368 sqft · Built 1920 · SingleFamily · Active · 49 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,400/mo
• Mortgage (P&I): −$1,259
• Tax + insurance: −$222
• HOA: −$0
• Vac / Maint / Mgmt: −$294
• Net cashflow: $-375/mo
• Annual: $-4,495/yr
• Cap rate: 4.75%
• Cash-on-cash: -5.50%
• DSCR: 0.76
• 1% rule: 0.58%
• Cash to close: $67,200

Investor read

• This is a 3-bed/1.0-bath single-family listed at $240k.
• At list price, monthly cash flow is $-375 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $174k (27.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $140k (41.7% below list).
• It's been on market 49 days — a 3% lower offer ($233k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $140k (41.7% below list) — sets the bar for 1% rule.
• In year one you build about $16k of equity ($2k loan paydown + $14k appreciation (6.0% local appreciation)).
• Location reads 58/100 on livability (#197 in ID) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: amenities F, commute F, employment F.
• Bruneau-Grand View Joint School District (rural): math 25% / reading 35% proficiency, ranked #123 of 133 in ID (top 92%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Grand View Elementary School (math 54% / reading 44%, grade D, #148 of 357 statewide, top 47%, 102 students, 40% FRL); Rimrock Jr/Sr High School (math 27% / reading 47%, grade F, #100 of 169 statewide, top 61%, 161 students, 36% FRL) — zoned schools average 38% FRL vs 53% district-wide (15 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 43% at this address vs 30% district-wide (+13 pts) — the actual schools serving this property are materially stronger than the Bruneau-Grand View Joint School District average implies; a family-tenant draw the district grade alone would hide.
• Watch-outs: flood insurance adds $66/mo; built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 8 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 40 units permitted in Owyhee County in 2024 (0 in 5+ unit buildings).
• Owyhee County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 3, paydown + projected appreciation supports a ~$40k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe flood risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

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 49 days. Have you received any prior offers? Is the seller open to a 42% concession, seller financing, or rate buy-down credit?
• Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• 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?
• 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.