8383 Florence St · Letha, ID 83617

$124,900

2 bd · 1.0 ba · 924 sqft · Manufactured public records · 18 Days on market

Built 1985 10,454 sqft lot Est $196k · 36% under

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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 +25.7/30.0
• ARV discount +15.0/15.0
• DSCR +8.5/10.0
• 1% rule +6.8/10.0
• Schools +3.2/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 8383 Florence St in the quiet rural community of Emmett near Letha — an affordable country property offering small-town living with room to spread out. Public records and past listings highlight a move-in-ready manufactured home featuring an open floor plan, spacious living area, breakfast bar kitchen, pantry, and included appliances, along with forced-air heat, central air, and a cozy wood-burning stove for year-round comfort. Situated on an approximately 10,000+ sq ft lot, the property offers plenty of parking, RV space, a large detached two-car garage/shop, garden space, and room to enjoy Idaho’s wide-open lifestyle. Located just minutes from Emmett amenities, scho

Key facts

• Pantry
• Open floor plan
• Included appliances

Tags

• OPEN FLOOR PLAN
• BREAKFAST BAR KITCHEN
• PANTRY
• INCLUDED APPLIANCES
• FORCED-AIR HEAT
• CENTRAL AIR

Property features AI

Exterior

• Parking: Detached 2-car garage; RV access/parking; 2 covered parking spaces
• Utilities: Well water; Sewer connected
• Home design: Manufactured on land; Built in 1985
• Construction: Composition roof
• Exterior features: Full fencing; Garden

Interior

• Bedrooms: 2 bedrooms (both on the main level)
• Bathrooms: 1 bathroom
• Heating & cooling: Electric forced-air heating; Central air conditioning
• Interior features: Wood-burning stove fireplace

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $125k.

Deal economics

• At list price, monthly cash flow is $298 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $125k).
• Recommended offer: $123k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Emmett Independent District (town): math 33% / reading 43% proficiency, ranked #73 of 92 in ID (top 79%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Shadow Butte Elementary School (math 41% / reading 35%, grade F, #251 of 357 statewide, top 71%, 463 students, 40% FRL); Emmett Middle School (math 30% / reading 45%, grade F, #75 of 109 statewide, top 69%, 533 students, 39% FRL); Emmett High School (math 42% / reading 67%, grade C-, #26 of 169 statewide, top 17%, 737 students, 23% FRL) — zoned schools average 34% FRL vs 49% district-wide (15 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 335 active listings in the ZIP; 198 units permitted in Gem County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $864 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Gem County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 12y 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.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $123,026 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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.
3. 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.
4. 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: 1.18% ✓
• Cap rate: 9.15%
• Cash-on-cash: 10.22%
• DSCR: 1.45
• GRM: 7.1

CMA / ARV

• ARV (on-the-fly): $195,888
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8389 Florence St	0.15mi	2/1.0	938 (+2%)	20mo	$199,000	$212	74

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: -0.9%
• Equity multiple: 0.96×
• Total profit: $-1,256
• Equity at exit: $18,623

10-year hold

• IRR: 8.7%
• Equity multiple: 1.67×
• Total profit: $23,412
• Equity at exit: $10,799

Cash invested: $34,972 (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 83617

• Active inventory: 335
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $1,469 medium
• Mortgage (P&I): −$655
• Tax est. 1.5%: −$156 /mo · $1,874/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$309
• Net cashflow: $298

Break-even live

Break-even rent $1,093

Max offer price $124,900

Occupancy floor 75%

Sensitivity live

Price	-10% $384	-5% $341	+0% $298	+5% $255	+10% $211
Rent	-10% $182	-5% $240	+0% $298	+5% $356	+10% $414
Rate	-1.0pp $361	-0.5pp $329	base $298	+0.5pp $265	+1.0pp $232

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: $31,225
• Closing costs: $3,747
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-05-12
   listed $124,900 Active
2. 2014-08-07
   soldstatus
3. 2014-05-15
   listed $42,500
4. 2012-03-01
   soldstatus

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

Climate risk First Street

• 🌊 Flood 2/10 Low FEMA zone X (unshaded) · 5% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥97°F today · 19 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 8/10 Severe 13 unhealthy d/yr today · 17 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,633
• − Mortgage interest: −$6,996
• − Property taxes: −$1,874
• − Insurance: −$624
• − Repairs & maintenance: −$1,411
• − Management: −$1,411
• − Depreciation: −$3,633
• Taxable income: $1,684
• Est. tax owed @ 24.0%: −$404
• After-tax cash flow: $3,168/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.

Schools (NCES district)

• District: Emmett Independent District
• NCES district ID: 1601020
• Math proficiency: 33% ▼ -2.00%
• Reading proficiency: 43% ▼ -2.00%
• Median HH income: $42,067
• Composite: 32.04/100
• National rank: #5823
• State rank: #73 of 92 in ID

Livability — Letha

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Letha, ID
• Population (ZIP): 17,333

Population outlook (Gem County) Hauer SSP2

• Today (2025): 17,343 people
• By 2030: 17,416 · +0.4%
• By 2040: 17,236 · -0.6%
• By 2050: 16,613 · -4.2%
• By 2075: 15,111 · -12.9%
• By 2100: 12,472 · -28.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Hispanic / Latino 10% Two or more races 9%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Slovak 6% Portuguese 4% Lithuanian 4%
• Foreign-born: 5% · Canada
• Languages at home: 90% English-only · Spanish 7% Russian/Polish/Slavic 2%

Political lean MEDSL · Gem

• 2024 margin: Solid R (+66.0) · D 16.0% · R 82.0% · Other 2.0%
• 2008→2024 swing: -23.0pp toward R · 2008: -43.0pp · 2024: -66.0pp
• All cycles: 2024: R+66.0 2020: R+61.7 2016: R+59.7 2012: R+44.8 2008: R+43.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -186.67%
• Current HPI: 265.361
• 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

+193.9% since first listed

4 events — show timeline

• 2026-05-12 Listed $124,900 IMLS
• 2014-08-07 Sold (Public Records) — Public Records
• 2014-05-15 Listed $42,500 IMLS
• 2012-03-01 Sold (Public Records) — Public Records

Property tax history

-3.4%/yr

Latest (2025): $190 · +1.9% YoY. Source: county tax records.