89 Waterfall Loop

Orofino, ID 83544

$85,000D-

3 bd · 2.0 ba · 1,216 sqft · Built 1997 · Manufactured · Pending · 91 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,169/mo
• Mortgage (P&I): −$446
• Tax + insurance: −$142
• HOA: −$425
• Vac / Maint / Mgmt: −$245
• Net cashflow: $-89/mo
• Annual: $-1,067/yr
• Cap rate: 5.04%
• Cash-on-cash: -4.48%
• DSCR: 0.80
• 1% rule: 1.38%
• Cash to close: $23,800

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $85k.
• At list price, monthly cash flow is $-89 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $72k (15.1% below list).
• Meets the 1% rule at list price ($1k rent vs $85k).
• It's been on market 91 days — a 9% lower offer ($77k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $72k (15.1% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $588 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 76/100 on livability (#27 in ID, #3,806 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment D-.
• Orofino Joint District (town): math 37% / reading 56% proficiency, ranked #45 of 92 in ID (top 49%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Orofino Elementary School (math 42% / reading 52%, grade D-, #176 of 357 statewide, top 53%, 376 students, 41% FRL); Orofino High School (math 32% / reading 67%, grade D, #45 of 169 statewide, top 29%, 372 students, 25% FRL).
• Watch-outs: HOA is 36% of rent.
• Market conditions: 81 active listings in the ZIP; 51 units permitted in Clearwater County in 2024 (0 in 5+ unit buildings).
• Clearwater County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• Cap rate 5.0% vs local median 2.4% in Orofino — 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

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 91 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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.
• 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?
• 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.