2285 Basin St SW #104 · Ephrata, WA 98823

$99,000

3 bd · 2.0 ba · 1,296 sqft · Manufactured public records · 35 Days on market

Built 1994 $76/sqft · 62% below area

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.2/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

55+ community. 3-bedroom, 2-bath home offering 1,126 sq. ft. of comfortable living space. Exterior features include a covered front porch, covered back deck, fenced yard, gravel driveway, mature landscaping, open lawn area, and storage shed. The property also offers great outdoor space for relaxing, gardening, or entertaining. Inside, the home features an open living, dining, and kitchen layout with abundant natural light and easy flow throughout. The kitchen includes white cabinetry, ample counter space, skylights, and an adjacent dining area. Spacious living areas feature durable flooring, while the bedrooms offer comfortable layouts and good closet space. The primary suite includes a pri

Key facts

• Covered front porch
• Open lawn area
• Fenced yard

Tags

• COVERED FRONT PORCH
• COVERED BACK DECK
• FENCED YARD
• GRAVEL DRIVEWAY
• MATURE LANDSCAPING
• OPEN LAWN AREA

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $99k.

Deal economics

• At list price, monthly cash flow is $993 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $99k).
• Recommended offer: $96k (3.0% below list) — sets the bar for market timing.
• Cap rate 18.3% vs local median 3.4% in Ephrata — 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 80/100 on livability (#83 in WA, #1,613 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: amenities F.
• Ephrata School District (town): math 56% / reading 62% proficiency, ranked #72 of 291 in WA (top 25%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 232 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 559 units permitted in Grant County in 2024 (35 in 5+ unit buildings).
• This rent runs 35% of the median local income ($73k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $684 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Grant County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($96k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $37k; list at $99k implies a 168% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $96,030 (3.0% below list)

Questions for the listing agent

1. It's been on market 35 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 2.14% ✓
• Cap rate: 18.33%
• Cash-on-cash: 43.00%
• DSCR: 2.91
• GRM: 3.9

CMA / ARV

• ARV (median comp): $258,722
• List price: $99,000
• Delta: -61.73%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2285 SW Basin St #2	0.00mi	2/2.0 (-1)	1,248 (-4%)	12mo	$55,000	$44	78
2285 Basin St SW #5	0.00mi	3/2.0	1,152 (-11%)	18mo	$48,000	$42	66
2480 Basin St SW #26	0.23mi	3/2.0	1,144 (-12%)	12mo	$120,800	$106	60
2480 Basin St SW #10	0.20mi	2/2.0 (-1)	1,120 (-14%)	17mo	$83,000	$74	49

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: 39.8%
• Equity multiple: 2.70×
• Total profit: $47,248
• Equity at exit: $14,761

10-year hold

• IRR: 46.2%
• Equity multiple: 5.43×
• Total profit: $122,727
• Equity at exit: $8,560

Cash invested: $27,720 (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 98823

• Active inventory: 232
• Price-to-rent: 3.9×

Monthly cashflow live

• Estimated rent: $2,123 medium
• Mortgage (P&I): −$519
• Tax est. 1.5%: −$124 /mo · $1,485/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$446
• Net cashflow: $993

Break-even live

Break-even rent $866

Max offer price $99,000

Occupancy floor 48%

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: $24,750
• Closing costs: $2,970
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
45 Grant Dr Ephrata, WA	3.0	2.0	1217	$1,925	$1.58	44d	1	0.30mi
2393 Pacific St Ephrata, WA	3.0	2.0	1497	$2,500	$1.67	44d	1	0.43mi

Listing history 2 events

1. 2026-04-22
   listed $99,000 Active
2. 1995-12-12
   soldstatus $37,000

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 4/10 Moderate 7 d/yr ≥97°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 9/10 Extreme 18 unhealthy d/yr today · 18 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,479
• − Mortgage interest: −$5,546
• − Property taxes: −$1,485
• − Insurance: −$495
• − Repairs & maintenance: −$2,038
• − Management: −$2,038
• − Depreciation: −$2,880
• Taxable income: $10,997
• Est. tax owed @ 24.0%: −$2,639
• After-tax cash flow: $9,279/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: Ephrata School District
• NCES district ID: 5302610
• Math proficiency: 56% ▼ -1.00%
• Reading proficiency: 62% ▲ 1.00%
• Median HH income: $49,652
• Composite: 51.86/100
• National rank: #3574
• State rank: #72 of 291 in WA

Livability — Ephrata

• Score: 80/100
• State rank: #83
• US rank: #1613

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ephrata, WA
• County: Grant County · 61,643 people
• City population: 12,188
• Metro: Moses Lake, WA
• Population (ZIP): 12,188
• Household income: $73,074
• Rent vs Own: 32.7% rent · 67.3% own
• Severe rent burden: 182.0

Population outlook (Grant County) Hauer SSP2

• Today (2025): 99,356 people
• By 2030: 102,107 · +2.8%
• By 2040: 108,318 · +9.0%
• By 2050: 114,712 · +15.5%
• By 2075: 131,376 · +32.2%
• By 2100: 146,163 · +47.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (64%)
• Race & ethnicity: White 64% Hispanic / Latino 30% Two or more races 13%
• Hispanic origin (detail): Mexican 29%
• Common ancestry: Italian 4% Scottish 3% Portuguese 3%
• Foreign-born: 7% · Canada
• Languages at home: 77% English-only · Spanish 23%

Political lean MEDSL · Grant

• 2024 margin: Solid R (+37.5) · D 30.0% · R 67.4% · Other 2.6%
• 2008→2024 swing: -9.9pp toward R · 2008: -27.5pp · 2024: -37.5pp
• All cycles: 2024: R+37.5 2020: R+34.4 2016: R+37.9 2012: R+32.6 2008: R+27.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -356.36%
• Current HPI: 219.8763
• Rent YoY: —
• Metro: Moses Lake, WA
• 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

+167.6% since first listed

2 events — show timeline

• 2026-04-22 Listed $99,000 NWMLS as Distributed by MLS Grid
• 1995-12-12 Sold (Public Records) $37,000 Public Records

Property tax history

-10.7%/yr

Latest (2023): $128 · -54.8% YoY. Source: county tax records.