2034 Powers Ave #31

Lewiston, ID 83501

$175,000D-

3 bd · 2.0 ba · 1,728 sqft · Built 2001 · Manufactured · Active · 8 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,334/mo
• Mortgage (P&I): −$918
• Tax + insurance: −$149
• HOA: −$0
• Vac / Maint / Mgmt: −$280
• Net cashflow: $-13/mo
• Annual: $-151/yr
• Cap rate: 6.21%
• Cash-on-cash: -0.31%
• DSCR: 0.99
• 1% rule: 0.76%
• Cash to close: $49,000

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $175k.
• At list price, monthly cash flow is $-13 ($-151/yr) — negative.
• To cash-flow at today's rent, offer at most $173k (1.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $133k (23.8% below list).
• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $133k (23.8% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Location reads 75/100 on livability (#30 in ID, #4,281 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living A; Watch: amenities F, commute F.
• Lewiston Independent District (urban): math 44% / reading 54% proficiency, ranked #37 of 92 in ID (top 40%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Camelot Elementary School (math 57% / reading 52%, grade C, #106 of 357 statewide, top 33%, 352 students, 11% FRL); Lewiston High School (math 37% / reading 63%, grade D+, #39 of 169 statewide, top 23%, 1,373 students, 17% FRL) — zoned schools average 14% FRL vs 29% district-wide (15 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 272 active listings in the ZIP; 125 units permitted in Nez Perce County in 2024 (0 in 5+ unit buildings).
• Nez Perce County population projected at +12% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 2 sale attempts since 11y 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.
• Cap rate 6.2% vs local median 1.9% in Lewiston — 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

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.