12428 Cherry Ln

Tyhee, ID 83202

$189,000D

3 bd · 1.0 ba · 1,140 sqft · Built 1900 · SingleFamily · Pending · 19 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,513/mo
• Mortgage (P&I): −$991
• Tax + insurance: −$115
• HOA: −$0
• Vac / Maint / Mgmt: −$318
• Net cashflow: $90/mo
• Annual: $1,075/yr
• Cap rate: 6.86%
• Cash-on-cash: 2.03%
• DSCR: 1.09
• 1% rule: 0.80%
• Cash to close: $52,920

Investor read

• This is a 3-bed/1.0-bath single-family listed at $189k.
• At list price, monthly cash flow is $90 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $151k (20.0% below list).
• It's been on market 19 days — a 2% lower offer ($186k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $151k (20.0% below list) — sets the bar for 1% rule.
• 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 70/100 on livability (#59 in ID) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, employment A; Watch: health & safety C-, amenities F, commute F.
• Pocatello District (urban): math 45% / reading 58% proficiency, ranked #26 of 92 in ID (top 28%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Chubbuck Elementary School (math 61% / reading 64%, grade B, #53 of 357 statewide, top 15%, 495 students, 34% FRL); Hawthorne Middle School (math 35% / reading 54%, grade D, #52 of 109 statewide, top 51%, 674 students, 48% FRL); Highland High School (math 45% / reading 57%, grade D+, #38 of 169 statewide, top 22%, 1,589 students, 22% FRL).
• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising (+3.1%/yr); 214 active listings in the ZIP; 325 units permitted in Bannock County in 2024 (6 in 5+ unit buildings).

Questions for listing agent

• Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.
• 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.