8509 N Sunny Ln

Hayden, ID 83835

$199,000C-

2 bd · 2.0 ba · 1,660 sqft · Built 1990 · Manufactured · Pending · 3 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,084/mo
• Mortgage (P&I): −$1,044
• Tax + insurance: −$332
• HOA: −$0
• Vac / Maint / Mgmt: −$438
• Net cashflow: $271/mo
• Annual: $3,254/yr
• Cap rate: 7.93%
• Cash-on-cash: 5.84%
• DSCR: 1.26
• 1% rule: 1.05%
• Cash to close: $55,720

Investor read

• This is a 2-bed/2.0-bath manufactured listed at $199k.
• At list price, monthly cash flow is $271 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $199k).
• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Location reads 64/100 on livability (#150 in ID) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Coeur D'Alene District (urban): math 44% / reading 60% proficiency, ranked #23 of 92 in ID (top 25%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Dalton Elementary School (math 67% / reading 73%, grade A-, #21 of 357 statewide, top 6%, 385 students, 16% FRL); Canfield Middle School (math 51% / reading 72%, grade B+, #9 of 109 statewide, top 7%, 746 students, 22% FRL); Coeur D'Alene High School (math 47% / reading 80%, grade B-, #14 of 169 statewide, top 8%, 1,548 students, 15% FRL) — zoned schools average 18% FRL vs 34% district-wide (16 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 65% at this address vs 52% district-wide (+13 pts) — the actual schools serving this property are materially stronger than the Coeur D'Alene District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising (+1.2%/yr); 390 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 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.
• 7 sale attempts since 6y 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.
• Cap rate 7.9% vs local median 2.2% in Hayden — 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

• 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.