3236 S Kingsbury Way

Eagle, ID 83616-6781

$1,850,000D-

4 bd · 4.0 ba · 4,983 sqft · Built 2002 · SingleFamily · Active · 84 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $7,384/mo
• Mortgage (P&I): −$9,702
• Tax + insurance: −$1,165
• HOA: −$125
• Vac / Maint / Mgmt: −$1,551
• Net cashflow: $-5,158/mo
• Annual: $-61,902/yr
• Cap rate: 2.95%
• Cash-on-cash: -11.95%
• DSCR: 0.47
• 1% rule: 0.40%
• Cash to close: $518,000

Investor read

• This is a 4-bed/4.0-bath single-family listed at $1.85M.
• At list price, monthly cash flow is $-5k ($-62k/yr) — negative.
• To cash-flow at today's rent, offer at most $939k (49.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $738k (60.1% below list).
• It's been on market 84 days — a 6% lower offer ($1.74M) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $738k (60.1% below list) — sets the bar for 1% rule.
• In year one you build about $68k of equity ($13k loan paydown + $56k appreciation (3.0% local appreciation)).
• Location reads 78/100 on livability (#18 in ID, #2,702 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities D+, commute F, cost of living F.
• 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: Paramount Elementary School (math 81% / reading 77%, grade A, #7 of 357 statewide, top 2%, 501 students, 11% FRL); Rocky Mountain High School (math 47% / reading 76%, grade B-, #18 of 169 statewide, top 10%, 1,917 students, 8% FRL).
• Market conditions: 1 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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.
• 4 sale attempts since 20y 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.
• By year 2, paydown + projected appreciation supports a ~$111k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Cap rate 2.9% vs local median 1.1% in Eagle — 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 84 days. Have you received any prior offers? Is the seller open to a 60% 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 A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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.