701 Monte Vista Dr #9

Emmett, ID 83617

$70,000D-

2 bd · 1.0 ba · 672 sqft · Built 1971 · Manufactured · Active · 33 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,338/mo
• Mortgage (P&I): −$367
• Tax + insurance: −$117
• HOA: −$600
• Vac / Maint / Mgmt: −$281
• Net cashflow: $-26/mo
• Annual: $-316/yr
• Cap rate: 5.84%
• Cash-on-cash: -1.61%
• DSCR: 0.93
• 1% rule: 1.91%
• Cash to close: $19,600

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $70k. Condition is rated good.
• At list price, monthly cash flow is $-26 ($-316/yr) — negative.
• To cash-flow at today's rent, offer at most $66k (5.5% below list).
• Meets the 1% rule at list price ($1k rent vs $70k).
• It's been on market 33 days — a 3% lower offer ($68k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $66k (5.5% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $484 of loan paydown is wiped out by about $2k 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: Butte View School (205 students, 49% FRL); Emmett Middle School (math 30% / reading 45%, grade F, #75 of 109 statewide, top 69%, 533 students, 39% FRL); Black Canyon Jr/Sr High School (math 5% / reading 15%, grade F, #160 of 169 statewide, top 98%, 119 students, 48% FRL) — zoned schools at 45% FRL track the district average.
• Zoned-school proficiency averages 24% at this address vs 38% district-wide (-14 pts) — the specific schools serving this property underperform the Emmett Independent District average; the district grade overstates school quality for this exact location.
• Watch-outs: HOA is 45% of rent.
• Market conditions: 335 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 5.8% vs local median 1.1% 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

• 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?
• It's been on market 33 days. Have you received any prior offers? Is the seller open to a 5% concession, seller financing, or rate buy-down credit?
• Built in 1971 — 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?
• 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.