8570 N Hayden Pines Way

Hayden, ID 83835

$85,500B

2 bd · 1.0 ba · 910 sqft · Built 1974 · Manufactured · Active · 113 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,878/mo
• Mortgage (P&I): −$448
• Tax + insurance: −$142
• HOA: −$0
• Vac / Maint / Mgmt: −$394
• Net cashflow: $893/mo
• Annual: $10,712/yr
• Cap rate: 18.82%
• Cash-on-cash: 44.74%
• DSCR: 2.99
• 1% rule: 2.20%
• Cash to close: $23,940

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $86k.
• At list price, monthly cash flow is $893 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $86k).
• It's been on market 113 days — a 9% lower offer ($78k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $78k (9.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $591 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 64/100 on livability (#150 in ID) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+; Watch: schools D+, amenities F, commute F.
• Coeur D'Alene District (urban): math 44% / reading 60% proficiency, ranked #23 of 92 in ID (top 25%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+1.2%/yr); 383 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 1,606 units permitted in Kootenai County in 2024 (154 in 5+ unit buildings).
• Kootenai County population projected at +33% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 5 sale attempts since 9y ago; this cycle's ask has dropped $20k (19%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (-3.0% appreciation + 1.2% rent growth), your $24k cash investment doubles in ~3 years — after that, you're playing with house money.
• Cap rate 18.8% vs local median 2.2% in Hayden — 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 113 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• Built in 1974 — 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.
• 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.