701 Monte Vista Dr #1

Emmett, ID 83617

$93,500C

3 bd · 2.0 ba · 1,710 sqft · Built 1978 · Manufactured · Pending · 13 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,670/mo
• Mortgage (P&I): −$490
• Tax + insurance: −$156
• HOA: −$600
• Vac / Maint / Mgmt: −$351
• Net cashflow: $73/mo
• Annual: $875/yr
• Cap rate: 7.23%
• Cash-on-cash: 3.34%
• DSCR: 1.15
• 1% rule: 1.79%
• Cash to close: $26,180

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $94k. Condition is rated fair.
• At list price, monthly cash flow is $73 ($875/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $94k).
• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $646 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 68/100 on livability (#77 in ID) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D, amenities F, commute F.
• Emmett Independent District (town): math 33% / reading 43% proficiency, ranked #73 of 92 in ID (top 79%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Kenneth J Carberry Elementary (math 34% / reading 38%, grade F, #268 of 357 statewide, top 75%, 489 students, 46% FRL); Emmett High School (math 42% / reading 67%, grade C-, #26 of 169 statewide, top 17%, 737 students, 23% FRL).
• Watch-outs: HOA is 36% of rent.
• Market conditions: 332 active listings in the ZIP; 198 units permitted in Gem County in 2024 (0 in 5+ unit buildings).
• Gem County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 7.2% vs local median 1.0% in Emmett — 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

• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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?
• 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)

• Moderate: Kitchen cabinets — The cabinets show signs of wear and tear, indicating a need for replacement or repair.
• Minor: Bathroom fixtures — The fixtures show some wear, but are still functional and can be replaced with minimal effort.
• Moderate: Exterior siding — The siding shows signs of wear and tear, indicating a need for replacement or repair.