224 Bartlett Ave E · Omak, WA 98841

$125,000

5 bd · 1.0 ba · 1,512 sqft · SingleFamily public records · 1 Days on market

Built 1922 0.27 ac lot

---

Why this score? — see what drove the B- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +8.3/10.0
• ARV discount +7.5/15.0
• Schools +3.6/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Omak - On the River - Double Lot on over 11,500+sqft overlooking the Okanogan River - Rare opportunity to own a spacious home of 5 bedroom/1 full bath 1512sqft living space & 672sqft basement for additional storage/workspace. Beauty of the river from your own property complete with detached garage that has been transformed into a lookout spot, single carport, driveway parking, and city utilities. Investment opportunity or full-time residence - Endless possibilities. $125,000 MLS-2542297/H-3774

Key facts

• City utilities
• Okanogan river
• Double lot

Tags

• DOUBLE LOT
• OKANOGAN RIVER
• DETACHED GARAGE
• LOOKOUT SPOT
• CITY UTILITIES

Property features AI

Finance

• Other: Property type: Residential - Single family residence; Finished living area reported as 1,512 (living area); Total building area reported as 2,184; Lot consists of lots 1, 2, 3; Lot size about 0.2688 acres; Site zoning: City
• Financial info: Listing terms: Cash

Exterior

• Parking: One covered parking space; Four uncovered parking spaces; Driveway; Garage (approx. 216 sq ft)
• Utilities: Public water (City of Omak); Sewer connected (City of Omak); Electric service (PUD)
• Home design: Single family residence; Two-story with basement; Built on lot; Has a view; Faces unspecified direction
• Construction: Built in 1922 (effective year); Wood construction; Composition roof; Poured concrete foundation
• Exterior features: Wood exterior; Outbuildings; Patio; Paved site

Interior

• Bedrooms: Five bedrooms total; Four bedrooms on upper level; One bedroom on main level
• Flooring: Hardwood flooring; Laminate flooring
• Bathrooms: One full bathroom; One bathtub; One shower
• Heating & cooling: Baseboard heating; Window air conditioning units
• Interior features: Ceiling fans; Dining room; Vaulted ceilings; Basement roughed-in

What this means for you Summary

Snapshot

• This is a 5-bed/1.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $163 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Cap rate 10.9% vs local median 2.4% in Omak — 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.

Location & tenants

• Location reads 63/100 on livability (#386 in WA) — a middle-class / working-renter tenant base. Strengths: cost of living A+; Watch: schools C-, crime C-, health & safety C-.
• Omak School District (town): math 29% / reading 49% proficiency, ranked #227 of 291 in WA (top 78%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 105 active listings in the ZIP; 234 units permitted in Okanogan County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $864 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Okanogan County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: flood insurance adds $314/mo; built in 1922 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone A (mandatory federal flood insurance); severe wildfire risk; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $125,000

Questions for the listing agent

1. Built in 1922 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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.

Investment metrics

• 1% rule: 1.33% ✓
• Cap rate: 10.87%
• Cash-on-cash: 16.34%
• DSCR: 1.73
• GRM: 6.3

CMA / ARV

• ARV (on-the-fly): $266,112
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
712 Sunrise Dr	0.48mi	4/2.0 (-1)	1,440 (-5%)	8mo	$287,900	$200	54
306 S Cedar St	0.60mi	4/2.0 (-1)	1,508 (-0%)	10mo	$210,000	$139	54
304 Apple Ave W	0.44mi	4/2.0 (-1)	1,662 (+10%)	10mo	$292,500	$176	46

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -7.5%
• Equity multiple: 0.72×
• Total profit: $-9,686
• Equity at exit: $18,638

10-year hold

• IRR: 2.3%
• Equity multiple: 1.16×
• Total profit: $5,735
• Equity at exit: $10,808

Cash invested: $35,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 28 Tenant-Leaning
• State Washington: 28 Tenant-Leaning · D+8
• County: — inherits STATE
• City: — inherits STATE

Just-cause statewide (2021); Seattle layers rent control restrictions + relocation assistance; very tenant-friendly.

Methodology + full state rankings →

ZIP-level market 98841

• Active inventory: 105
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $1,664 medium
• Mortgage (P&I): −$656
• Tax from tax record: −$130 /mo · $1,562/yr
• Insurance: −$52
• Flood insurance flood zone: −$314 /mo · $3,765/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$349
• Net cashflow: $163

Break-even live

Break-even rent $1,458

Max offer price $125,000

Occupancy floor 85%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-06-18
   remarks 500-char remark
2. 2026-06-18
   listed $125,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast WA · Resets to sale price

• Current annual tax: $1,562 · $130/mo
• Projected year-2 tax: $1,562 · $130/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 10/10 Extreme FEMA zone A · 99% chance over 30 yrs
• 🔥 Wildfire 9/10 Extreme
• 🌡 Heat 5/10 Major 7 d/yr ≥97°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 23 unhealthy d/yr today · 27 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,964
• − Mortgage interest: −$7,002
• − Property taxes: −$1,562
• − Insurance: −$4,390
• − Repairs & maintenance: −$1,597
• − Management: −$1,597
• − Depreciation: −$3,636
• Taxable income: $179
• Est. tax owed @ 24.0%: −$43
• After-tax cash flow: $1,910/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Omak School District
• NCES district ID: 5306220
• Math proficiency: 29% ▬ 0.00%
• Reading proficiency: 49% ▲ 1.00%
• Median HH income: $44,421
• Composite: 35.56/100
• National rank: #9729
• State rank: #227 of 291 in WA

Livability — Omak

• Score: 63/100
• State rank: #386
• US rank: #15185

Category grades

Amenities F Commute F Cost of living A+ Crime C- Employment D Housing B- Health & safety C- User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Omak, WA
• Population (ZIP): 9,376

Population outlook (Okanogan County) Hauer SSP2

• Today (2025): 40,288 people
• By 2030: 39,265 · -2.5%
• By 2040: 37,110 · -7.9%
• By 2050: 35,389 · -12.2%
• By 2075: 31,609 · -21.5%
• By 2100: 26,647 · -33.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (65%)
• Race & ethnicity: White 65% Hispanic / Latino 16% Two or more races 16% Native American 14%
• Hispanic origin (detail): Mexican 14% Puerto Rican 1%
• Common ancestry: Portuguese 4% Slovak 3% Lithuanian 2%
• Foreign-born: 6% · Canada
• Languages at home: 91% English-only · Spanish 8%

Political lean MEDSL · Okanogan

• 2024 margin: R (+15.0) · D 41.1% · R 56.0% · Other 2.9%
• 2008→2024 swing: -8.0pp toward R · 2008: -7.0pp · 2024: -15.0pp
• All cycles: 2024: R+15.0 2020: R+13.8 2016: R+21.3 2012: R+14.8 2008: R+7.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -144.79%
• Current HPI: 190.8789
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 4.65%
• F500 in state: 22

Industry mix (Fortune 500 HQ in WA)

Industry	F500 HQs	Revenue
▸Retail	2	$269B
▸Technology / Retail	1	$638B
▸Technology	1	$245B
▸Telecommunications	1	$38B
▸Food / Beverage	1	$36B
▸Automotive / Trucks	1	$34B

Price history

1 event — show timeline

• 2026-06-18 Listed $125,000 NWMLS as Distributed by MLS Grid

Property tax history

+3.2%/yr

Latest (2026): $1,562 · -4.1% YoY. Source: county tax records.