195 Washington St N

Twin Falls, ID 83301

$500,000C

12 bd · 7.5 ba · 2,970 sqft · Built 1940 · MultiFamily · Active · 273 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $5,659/mo
• Mortgage (P&I): −$2,622
• Tax + insurance: −$833
• HOA: −$0
• Vac / Maint / Mgmt: −$1,188
• Net cashflow: $1,015/mo
• Annual: $12,183/yr
• Cap rate: 8.73%
• Cash-on-cash: 8.70%
• DSCR: 1.39
• 1% rule: 1.13%
• Cash to close: $140,000

Investor read

• This is a 3 × 4.0-bed/2.5-bath units multifamily listed at $500k.
• At list price, monthly cash flow is $1k ($12k/yr) — positive. Per door: $338/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $500k).
• It's been on market 273 days — a 12% lower offer ($440k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $440k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $15k of value loss. Plan a longer hold.
• Location reads 74/100 on livability (#33 in ID, #4,779 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime C-, commute F.
• Twin Falls District (town): math 34% / reading 49% proficiency, ranked #62 of 92 in ID (top 67%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: I B Perrine Elementary School (math 24% / reading 30%, grade F, #318 of 357 statewide, top 92%, 494 students, 52% FRL); Robert Stuart Middle School (math 32% / reading 49%, grade F, #69 of 109 statewide, top 65%, 765 students, 20% FRL); Canyon Ridge High School (math 26% / reading 59%, grade F, #71 of 169 statewide, top 42%, 1,409 students, 18% FRL).
• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising (+2.9%/yr); 625 active listings in the ZIP; 636 units permitted in Twin Falls County in 2024 (12 in 5+ unit buildings).
• Twin Falls County population projected at +29% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 2 sale attempts; this cycle's ask has dropped $65k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Cap rate 8.7% vs local median 2.4% in Twin 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.
• At $5,659/mo this rent would consume 108% of the median local household income ($63k/yr) (locally 1784% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• It's been on market 273 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.
• 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.