343 Thomas Ave

Dubois, ID 83423

$400,000C

12 bd · 4.8 ba · 1,600 sqft · Built 1972 · MultiFamily · Active · 20 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $4,089/mo
• Mortgage (P&I): −$2,098
• Tax + insurance: −$667
• HOA: −$0
• Vac / Maint / Mgmt: −$859
• Net cashflow: $466/mo
• Annual: $5,592/yr
• Cap rate: 7.69%
• Cash-on-cash: 4.99%
• DSCR: 1.22
• 1% rule: 1.02%
• Cash to close: $112,000

Investor read

• This is a 4 × 3-bed/?-bath units multifamily listed at $400k. Condition is rated fair.
• At list price, monthly cash flow is $466 ($6k/yr) — positive. Per door: $116/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $400k).
• It's been on market 20 days — a 2% lower offer ($394k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $394k (1.5% below list) — sets the bar for market timing.
• In year one you build about $29k of equity ($3k loan paydown + $27k appreciation (6.6% local appreciation)).
• Location reads 58/100 on livability (#196 in ID) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+, crime B; Watch: schools F, amenities F, commute F.
• Clark County District (rural): math 10% / reading 35% proficiency, ranked #129 of 133 in ID (top 97%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 10 active listings in the ZIP; 3 units permitted in Clark County in 2024 (0 in 5+ unit buildings).
• Clark County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (6.6% appreciation + 3.0% rent growth), your $112k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$47k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe wildfire risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1972 — 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 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.

Repairs flagged (vision-AI assessment)

• Major: siding — Significant wear and tear
• Major: roof — Visible signs of damage
• Major: landscaping — Overgrown vegetation