238 Mingo Ln

Chubbuck, ID 83202

$150,000D

3 bd · 1.5 ba · 0 sqft · Built 1976 · Manufactured · Active · 67 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,260/mo
• Mortgage (P&I): −$787
• Tax + insurance: −$250
• HOA: −$0
• Vac / Maint / Mgmt: −$265
• Net cashflow: $-41/mo
• Annual: $-494/yr
• Cap rate: 5.96%
• Cash-on-cash: -1.18%
• DSCR: 0.95
• 1% rule: 0.84%
• Cash to close: $42,000

Investor read

• This is a 3-bed/1.5-bath manufactured listed at $150k.
• At list price, monthly cash flow is $-41 ($-494/yr) — negative.
• To cash-flow at today's rent, offer at most $144k (4.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $126k (16.0% below list).
• It's been on market 67 days — a 6% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $126k (16.0% 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 $4k of value loss. Plan a longer hold.
• Location reads 86/100 on livability (#4 in ID, #454 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: crime C-.
• 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); Century High School (math 41% / reading 71%, grade C, #24 of 169 statewide, top 14%, 1,092 students, 33% FRL) — zoned schools at 38% FRL track the district average.
• Market conditions: Rents rising (+3.1%/yr); 212 active listings in the ZIP; 325 units permitted in Bannock County in 2024 (6 in 5+ unit buildings).

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 67 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
• Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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 B-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.