1411 Almo Ave

Burley, ID 83318

$125,000C

2 bd · 1.0 ba · 934 sqft · Built 1918 · Other · Pending · 16 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,272/mo
• Mortgage (P&I): −$656
• Tax + insurance: −$125
• HOA: −$0
• Vac / Maint / Mgmt: −$267
• Net cashflow: $224/mo
• Annual: $2,690/yr
• Cap rate: 8.44%
• Cash-on-cash: 7.69%
• DSCR: 1.34
• 1% rule: 1.02%
• Cash to close: $35,000

Investor read

• This is a 2-bed/1.0-bath other listed at $125k.
• At list price, monthly cash flow is $224 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $125k).
• It's been on market 16 days — a 2% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $123k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $864 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 74/100 on livability (#32 in ID, #4,536 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D+, amenities F, commute F.
• Cassia County Joint District (town): math 37% / reading 47% proficiency, ranked #59 of 92 in ID (top 64%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Burley Senior High School (math 26% / reading 47%, grade F, #105 of 169 statewide, top 63%, 1,055 students, 39% FRL) — zoned schools at 39% FRL track the district average.
• Watch-outs: built in 1918 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 117 active listings in the ZIP; 140 units permitted in Cassia County in 2024 (0 in 5+ unit buildings).
• Cassia County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• Cap rate 8.4% vs local median 2.3% in Burley — 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

• Built in 1918 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.