8395 W Meadowbrook Cir #137

Rathdrum, ID 83858

$29,999D+

2 bd · 1.0 ba · 840 sqft · Built 1980 · Manufactured · Pending · 28 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,374/mo
• Mortgage (P&I): −$157
• Tax + insurance: −$477
• HOA: −$0
• Vac / Maint / Mgmt: −$289
• Net cashflow: $452/mo
• Annual: $5,420/yr
• Cap rate: 41.42%
• Cash-on-cash: 125.46%
• DSCR: 6.58
• 1% rule: 4.58%
• Cash to close: $8,400

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $30k. Condition is rated fair.
• At list price, monthly cash flow is $452 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $30k).
• It's been on market 28 days — a 2% lower offer ($30k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $30k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $207 of loan paydown is wiped out by about $900 of value loss. Plan a longer hold.
• Location reads 74/100 on livability (#30 in ID, #4,401 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, health & safety B; Watch: amenities F, commute F.
• Lakeland District (rural): math 41% / reading 57% proficiency, ranked #34 of 92 in ID (top 37%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: John Brown Elementary School (math 47% / reading 52%, grade D, #148 of 357 statewide, top 47%, 273 students, 42% FRL); Lakeland Middle School (math 29% / reading 54%, grade F, #67 of 109 statewide, top 61%, 643 students, 25% FRL); Lakeland Senior High School (math 47% / reading 72%, grade C+, #19 of 169 statewide, top 11%, 839 students, 18% FRL).
• Watch-outs: flood insurance adds $427/mo.
• Market conditions: 529 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 1,606 units permitted in Kootenai County in 2024 (154 in 5+ unit buildings).
• Kootenai County population projected at +33% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $8k cash investment doubles in ~2 years — after that, you're playing with house money.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); major wildfire risk — expect insurance premiums to compound above CPI over the hold.
• Cap rate 41.4% vs local median 1.3% in Rathdrum — 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

• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• 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.

Repairs flagged (vision-AI assessment)

• Minor: Kitchen cabinets — Light wear and tear.
• Minor: Bathroom fixtures — Light wear and tear.
• Minor: Flooring — Light wear and tear.
• Minor: Paint — Faded in some areas.
• Minor: Roof — No visible signs of major damage, but may need inspection.