5571 E Iona Rd

Iona, ID 83427

$175,000D-

1 bd · 1.0 ba · 568 sqft · Built 1966 · Manufactured · Active · 28 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $933/mo
• Mortgage (P&I): −$918
• Tax + insurance: −$165
• HOA: −$0
• Vac / Maint / Mgmt: −$196
• Net cashflow: $-346/mo
• Annual: $-4,148/yr
• Cap rate: 3.92%
• Cash-on-cash: -8.46%
• DSCR: 0.62
• 1% rule: 0.53%
• Cash to close: $49,000

Investor read

• This is a 1-bed/1.0-bath manufactured listed at $175k.
• At list price, monthly cash flow is $-346 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $114k (34.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $93k (46.7% below list).
• It's been on market 28 days — a 2% lower offer ($172k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $93k (46.7% below list) — sets the bar for 1% rule.
• In year one you build about $19k of equity ($1k loan paydown + $18k appreciation (10.0% local appreciation)).
• Location reads 74/100 on livability (#35 in ID, #4,971 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: health & safety C-, amenities F, commute F.
• Bonneville Joint District (suburban): math 41% / reading 57% proficiency, ranked #30 of 92 in ID (top 33%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Rocky Mountain Middle School (math 39% / reading 59%, grade C-, #34 of 109 statewide, top 34%, 536 students, 32% FRL) — zoned schools at 32% FRL track the district average.
• Market conditions: 14 active listings in the ZIP; 2,253 units permitted in Bonneville County in 2024 (1,051 in 5+ unit buildings).
• Bonneville County population projected at +18% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 3 sale attempts since 5y 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.
• By year 2, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

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?
• Built in 1966 — 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.
• 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.