1715 W Flamingo Ave #90

Nampa, ID 83651

$75,000B

3 bd · 2.0 ba · 1,498 sqft · Built 1978 · Manufactured · Active · 56 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,551/mo
• Mortgage (P&I): −$393
• Tax + insurance: −$72
• HOA: −$0
• Vac / Maint / Mgmt: −$326
• Net cashflow: $760/mo
• Annual: $9,121/yr
• Cap rate: 18.45%
• Cash-on-cash: 43.43%
• DSCR: 2.93
• 1% rule: 2.07%
• Cash to close: $21,000

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $75k.
• At list price, monthly cash flow is $760 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $75k).
• It's been on market 56 days — a 3% lower offer ($73k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $73k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $519 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 72/100 on livability (#47 in ID) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living A-; Watch: employment C-, schools D+, amenities F.
• Vallivue School District (rural): math 34% / reading 56% proficiency, ranked #48 of 92 in ID (top 52%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+6.4%/yr); 319 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 3,620 units permitted in Canyon County in 2024 (196 in 5+ unit buildings).
• Canyon County population projected at +41% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 6.4% rent growth), your $21k cash investment doubles in ~3 years — after that, you're playing with house money.
• Cap rate 18.5% vs local median 3.2% in Nampa — 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

• It's been on market 56 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1978 — 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 D-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.
• 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.