10606 W Macaw Ln, #30

Boise City, ID 83713

$79,000B-

2 bd · 2.0 ba · 710 sqft · Built 2018 · Manufactured · Active · 109 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,176/mo
• Mortgage (P&I): −$414
• Tax + insurance: −$132
• HOA: −$0
• Vac / Maint / Mgmt: −$247
• Net cashflow: $383/mo
• Annual: $4,596/yr
• Cap rate: 12.11%
• Cash-on-cash: 20.78%
• DSCR: 1.92
• 1% rule: 1.49%
• Cash to close: $22,120

Investor read

• This is a 2-bed/2.0-bath manufactured listed at $79k. Condition is rated good.
• At list price, monthly cash flow is $383 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $79k).
• It's been on market 109 days — a 9% lower offer ($72k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $72k (9.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $546 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Joint School District No. 2 (suburban): math 53% / reading 67% proficiency, ranked #11 of 92 in ID (top 12%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Eliza Hart Spalding Stem Academy (math 65% / reading 65%, grade B+, #41 of 357 statewide, top 12%, 678 students, 17% FRL); Lewis & Clark Middle School (math 44% / reading 64%, grade B-, #20 of 109 statewide, top 19%, 882 students, 32% FRL); Centennial High School (math 53% / reading 76%, grade B-, #10 of 169 statewide, top 7%, 1,931 students, 22% FRL) — zoned schools at 24% FRL track the district average.
• Market conditions: Rents rising fast (+4.0%/yr); 271 active listings in the ZIP; solid renter incomes; 5,129 units permitted in Ada County in 2024 (414 in 5+ unit buildings).
• Ada County population projected at +45% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 2 sale attempts since 2y 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.
• At projected returns (-3.0% appreciation + 4.0% rent growth), your $22k cash investment doubles in ~6 years — after that, you're playing with house money.
• Cap rate 12.1% vs local median 2.8% in Boise City — 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.
• This rent is only 15% of the median local income ($91k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Questions for listing agent

• It's been on market 109 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.