411 N Almon #415

Moscow, ID 83843

$73,500C+

2 bd · 2.0 ba · 924 sqft · Built 1995 · Manufactured · Active · 29 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $961/mo
• Mortgage (P&I): −$385
• Tax + insurance: −$122
• HOA: −$0
• Vac / Maint / Mgmt: −$202
• Net cashflow: $251/mo
• Annual: $3,013/yr
• Cap rate: 10.39%
• Cash-on-cash: 14.64%
• DSCR: 1.65
• 1% rule: 1.31%
• Cash to close: $20,580

Investor read

• This is a 2-bed/2.0-bath manufactured listed at $74k. Condition is rated good.
• At list price, monthly cash flow is $251 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($961 rent vs $74k).
• It's been on market 29 days — a 2% lower offer ($72k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $72k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $508 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 87/100 on livability (#2 in ID, #273 nationally) — a professional / high-income tenant draw. Strengths: crime A+, amenities A+, commute A+; Watch: employment F.
• Moscow District (town): math 47% / reading 67% proficiency, ranked #17 of 92 in ID (top 18%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: West Park Elementary School (173 students, 44% FRL); Moscow High School (math 47% / reading 77%, grade B-, #16 of 169 statewide, top 10%, 769 students, 16% FRL) — zoned schools at 30% FRL track the district average.
• Market conditions: Rents rising fast (+9.0%/yr); 166 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 199 units permitted in Latah County in 2024 (72 in 5+ unit buildings).
• Latah County population projected at +29% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 5 sale attempts since 6y 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 + 8.0% rent growth), your $21k cash investment doubles in ~6 years — after that, you're playing with house money.
• Cap rate 10.4% vs local median 1.1% in Moscow — 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

• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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.