305 W Rednour St

Oakesdale, WA 99158

$120,000B+

3 bd · 1.0 ba · 1,352 sqft · Built 1890 · SingleFamily · Pending · 14 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,270/mo
• Mortgage (P&I): −$629
• Tax + insurance: −$83
• HOA: −$0
• Vac / Maint / Mgmt: −$267
• Net cashflow: $290/mo
• Annual: $3,485/yr
• Cap rate: 9.20%
• Cash-on-cash: 10.37%
• DSCR: 1.46
• 1% rule: 1.06%
• Cash to close: $33,600

Investor read

• This is a 3-bed/1.0-bath single-family listed at $120k.
• At list price, monthly cash flow is $290 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).
• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $12k of equity ($830 loan paydown + $11k appreciation (9.0% local appreciation)).
• Location reads 71/100 on livability (#232 in WA) — a middle-class / working-renter tenant base. Strengths: schools A+, cost of living A+, housing A+; Watch: health & safety C-, crime F, amenities F.
• Oakesdale School District (rural): math 60% / reading 80% proficiency, ranked #19 of 291 in WA (top 6%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 7 active listings in the ZIP; 49 units permitted in Whitman County in 2024 (0 in 5+ unit buildings).
• Whitman County population projected at +57% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 4 sale attempts since 18y 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.
• Current owner paid $20k; list at $120k implies a 500% gain — meaningful room to come down on a strong offer.
• At projected returns (9.0% appreciation + 3.0% rent growth), your $34k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$41k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• Built in 1890 — 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 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?
• Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• 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.