229 S Main St #4 · Paris, ID 83261

$37,900

2 bd · 1.0 ba · 1,120 sqft · Manufactured · 74 Days on market

Built 1973 Good condition $400/mo HOA · 40% of rent ↓ 5% since listing

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Why this score? — see what drove the B grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +28.8/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.4/10.0
• Condition / age +3.8/5.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Appreciation +2.4/10.0

Listing remarks

Largely updated, roomy home in The Creek mobile home park in Paris, ID! Original home is 2 bed, 1 bath, but 3 more rooms were added on, giving potential for 4 or 5 bedroom house, or add a second bathroom and make a 3 or 4 bed, 2 bath! New flooring, interior paint, most light fixtures, baseboards, kitchen sink, toilet, and more! Not to mention the serene location of this lot, with lots of frontage on the beautiful Paris Creek, keeping you insulated a ways from the nearest neighbors as well! Newer pellet stove works well, with new blower and auger for cozy, instant heat. Roof has been repaired in several places, and many windows in original part of home are updated double-pane vinyl! Super ha

Key facts

• Serene location
• Newer pex plumbing
• Updated home

Tags

• UPDATED HOME
• SERENE LOCATION
• FRONTAGE ON PARIS CREEK
• NEWER PELLET STOVE
• EXTERIOR ATTACHED SHED
• NEWER PEX PLUMBING

Property features AI

Finance

• HOA & community: Homeowners association with a $400 monthly fee; Association fee includes sewer, trash, and water; Pets permitted; Subdivision: THE CREEK RENTALS

Exterior

• Parking: 4 open/uncovered parking spaces
• Utilities: Electricity connected; Sewer connected; Culinary (potable) water connected
• Home design: Mobile home style; Single level; Faces west; Agent owned; Residential use
• Construction: Aluminum construction; Built and standing
• Exterior features: Double-pane windows; Outbuildings; Open porch; Waterfront property; Flat terrain with stream; Full landscaping

Interior

• Kitchen: Gas oven; Gas range; Refrigerator
• Bedrooms: 2 main-level bedrooms
• Flooring: Hardwood; Laminate
• Bathrooms: 1 full bathroom
• Interior features: Den/office; Gas oven; Gas range; Accessible electrical and environmental controls; Single level living; No basement
• Laundry & utility: Washer; Dryer; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $38k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $127 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($999 rent vs $38k).
• Recommended offer: $36k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 64/100 on livability (#153 in ID) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: amenities F, commute F, health & safety F.
• Bear Lake County District (rural): math 48% / reading 56% proficiency, ranked #25 of 92 in ID (top 27%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Paris Elementary School (math 47% / reading 47%, grade D-, #176 of 357 statewide, top 53%, 165 students, 48% FRL); Bear Lake Middle School (math 43% / reading 51%, grade D+, #43 of 109 statewide, top 41%, 289 students, 38% FRL); Bear Lake High School (math 42% / reading 67%, grade C-, #26 of 169 statewide, top 17%, 352 students, 29% FRL).
• Market conditions: 19 active listings in the ZIP; 86 units permitted in Bear Lake County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $262 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Bear Lake County population projected to shrink 10% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $11k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 74 days — a 6% lower offer ($36k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 40% of rent.

Recommended offer $35,626 (6.0% below list)

Questions for the listing agent

1. It's been on market 74 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
7. 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.
8. 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.
9. 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.

Investment metrics

• 1% rule: 2.64% ✓
• Cap rate: 10.32%
• Cash-on-cash: 14.37%
• DSCR: 1.64
• GRM: 3.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 5.3%
• Equity multiple: 1.21×
• Total profit: $2,215
• Equity at exit: $5,651

10-year hold

• IRR: 15.2%
• Equity multiple: 2.26×
• Total profit: $13,413
• Equity at exit: $3,277

Cash invested: $10,612 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 91 Strongly Landlord-Friendly
• State Idaho: 91 Strongly Landlord-Friendly · R+18
• County: — inherits STATE
• City: — inherits STATE

3-day pay-or-quit; preempted; minimal tenant protections.

Methodology + full state rankings →

ZIP-level market 83261

• Home prices YoY: -2.6%
• Active inventory: 19
• Price-to-rent: 3.2×

Monthly cashflow live

• Estimated rent: $999 medium
• Mortgage (P&I): −$199
• Tax est. 1.5%: −$47 /mo · $568/yr
• Insurance: −$16
• HOA: −$400
• Vacancy / Maint / Mgmt: −$210
• Net cashflow: $127

Break-even live

Break-even rent $838

Max offer price $37,900

Occupancy floor 82%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $9,475
• Closing costs: $1,137
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $400 · $4,800/yr

Listing history 16 events

1. 2026-06-17
   status $37,900 Under Contract 74 DOM
2. 2026-06-16
   days on market $37,900 Active 74 DOM
3. 2026-06-15
   days on market $37,900 Active 73 DOM
4. 2026-06-13
   days on market $37,900 Active 71 DOM
5. 2026-06-12
   days on market $37,900 Active 70 DOM
6. 2026-06-09
   days on market $37,900 Active 67 DOM
7. 2026-06-08
   days on market $37,900 Active 66 DOM
8. 2026-06-07
   days on market $37,900 Active 65 DOM
9. 2026-06-07
   days on market $37,900 Active 64 DOM
10. 2026-06-04
    days on market $37,900 Active 61 DOM
11. 2026-06-02
    days on market $37,900 Active 60 DOM
12. 2026-06-01
    days on market $37,900 Active 59 DOM
13. 2026-05-31
    days on market $37,900 Active 58 DOM
14. 2026-05-31
    days on market $37,900 Active 57 DOM
15. 2026-04-24
    price $37,900
16. 2026-04-03
    listed $39,999 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $11,985
• − Mortgage interest: −$2,123
• − Property taxes: −$568
• − Insurance: −$190
• − Repairs & maintenance: −$959
• − Management: −$959
• − HOA: −$4,800
• − Depreciation: −$1,103
• Taxable income: $1,284
• Est. tax owed @ 24.0%: −$308
• After-tax cash flow: $1,217/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Condition & rehab AI · 13 photos

Good 75/100 Cosmetic rehab

This mobile home is in good condition with recent updates, including new flooring and fixtures. It offers a good balance of curb appeal and interior updates, making it a solid investment.

Repairs flagged

• Minor Exterior siding — Some wear is visible on the siding.
• Minor Landscaping — Some areas of the lawn appear less maintained than others.

Value-add opportunities

• Resale Paint touch-ups — Fresh paint enhances curb appeal and home value.
• Rental Landscaping improvements — Well-maintained landscaping increases rental appeal and tenant satisfaction.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exterior siding · Some wear is visible on the siding.	Minor	$500–3,000
Landscaping · Some areas of the lawn appear less maintained than others.	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Resale Paint touch-ups — Fresh paint enhances curb appeal and home value. ↑
• Rental Landscaping improvements — Well-maintained landscaping increases rental appeal and tenant satisfaction. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Bear Lake County District
• NCES district ID: 1600240
• Math proficiency: 48% ▲ 3.00%
• Reading proficiency: 56% ▲ 6.00%
• Median HH income: $45,519
• Composite: 43.99/100
• National rank: #2892
• State rank: #25 of 92 in ID

Livability — Paris

• Score: 64/100
• State rank: #153
• US rank: #14216

Category grades

Amenities F Commute F Cost of living A+ Crime B+ Employment B Housing A+ Health & safety F User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Paris, ID
• City population: 634
• Population (ZIP): 634

Population outlook (Bear Lake County) Hauer SSP2

• Today (2025): 5,729 people
• By 2030: 5,586 · -2.5%
• By 2040: 5,357 · -6.5%
• By 2050: 5,186 · -9.5%
• By 2075: 4,836 · -15.6%
• By 2100: 4,302 · -24.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Native American 12% Hispanic / Latino 9% Two or more races 2%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Slovak 7% Serbian 1% Italian 1%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · French/Haitian/Cajun 1% Spanish 1%

Political lean MEDSL · Bear Lake

• 2024 margin: Solid R (+77.0) · D 10.4% · R 87.5% · Other 2.1%
• 2008→2024 swing: -13.3pp toward R · 2008: -63.7pp · 2024: -77.0pp
• All cycles: 2024: R+77.0 2020: R+77.3 2016: R+66.5 2012: R+77.5 2008: R+63.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -5.22%
• Current HPI: 196.7856
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 4.51%
• F500 in state: 6

Industry mix (Fortune 500 HQ in ID)

Industry	F500 HQs	Revenue
▸Retail	1	$79B
▸Technology	1	$25B
▸Food / Agriculture	1	$6B

Price history

-5.2% since first listed

2 events — show timeline

• 2026-04-24 Price Changed $37,900 WFRMLS
• 2026-04-03 Listed $39,999 WFRMLS