741 5th Ave S · Okanogan, WA 98840

$154,900

2 bd · 1.0 ba · 1,114 sqft · SingleFamily public records · 29 Days on market

Built 1913 6,534 sqft lot Est $156k · at est.

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Why this score? — see what drove the C- 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 +21.6/30.0
• ARV discount +7.8/15.0
• DSCR +6.9/10.0
• 1% rule +5.7/10.0
• Schools +4.2/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Spacious double-lot opportunity in the heart of Okanogan! This 2-bedroom, 1-bath home offers approximately 1,114 sq ft of living space plus a partial basement for storage. The home is older and in need of updates and repairs, but remains occupied and functional, offering solid potential for investors, flippers, or buyers looking to build sweat equity. Large in-town lot with room for gardening, parking, or future improvements. Conveniently located near schools, shopping, and downtown amenities. Property is being sold as-is. Cash or renovation-style financing likely best suited for this property. Bring your vision and unlock the potential of this classic Okanogan home.

Key facts

• Partial basement
• Room for parking
• Room for gardening

Tags

• DOUBLE-LOT OPPORTUNITY
• PARTIAL BASEMENT
• LARGE IN-TOWN LOT
• ROOM FOR GARDENING
• ROOM FOR PARKING

Property features AI

Finance

• Other: Senior exemption applies
• Financial info: Acceptable financing: Cash, Conventional, Rehab Loan

Exterior

• Parking: Off-street parking
• Security: Fully fenced
• Utilities: Electric service; Public water (City of Okanogan); Sewer connected (City of Okanogan); Power provided by Okanogan County PUD
• Home design: Single-family house; One story; Main-level entry; Built in 1913 (effective year); Has a view; Located on corner lot with alley access and paved frontage
• Construction: Wood construction; Composition roof; Poured concrete foundation; Built on lot
• Exterior features: Wood exterior products; Patio; Outbuildings; Fully fenced yard; Garden space

Interior

• Kitchen: Refrigerator; Stove/Range
• Bedrooms: Two bedrooms (both on the main level)
• Flooring: Hardwood; Laminate; Vinyl
• Bathrooms: One full bathroom (main level) with one tub and one shower
• Heating & cooling: Baseboard heating; Wall furnace; Window cooling unit(s)
• Interior features: Water heater (electric, located in basement); Unfinished basement
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $155k.

Deal economics

• At list price, monthly cash flow is $235 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $155k).
• Recommended offer: $153k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 68/100 on livability (#267 in WA) — a middle-class / working-renter tenant base. Strengths: housing A+, crime A-, cost of living A-; Watch: health & safety C-, amenities F, commute F.
• Okanogan School District (town): math 40% / reading 55% proficiency, ranked #173 of 291 in WA (top 60%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Grainger Elementary (417 students, 77% FRL); Okanogan High School (312 students, 71% FRL) — zoned schools average 74% FRL vs 49% district-wide (25 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 63 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 $1k of loan paydown is wiped out by about $5k 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

• It's been on market 29 days — a 2% lower offer ($153k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $19k; list at $155k implies a 715% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1913 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: 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 $152,576 (1.5% below list)

Questions for the listing agent

1. Built in 1913 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.07% ✓
• Cap rate: 8.12%
• Cash-on-cash: 6.51%
• DSCR: 1.29
• GRM: 7.8

CMA / ARV

• ARV (on-the-fly): $155,960
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
25 Pine St	0.45mi	1/1.0 (-1)	1,104 (-1%)	14mo	$155,000	$140	61

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: -6.3%
• Equity multiple: 0.77×
• Total profit: $-10,095
• Equity at exit: $23,096

10-year hold

• IRR: 3.4%
• Equity multiple: 1.24×
• Total profit: $10,600
• Equity at exit: $13,393

Cash invested: $43,372 (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 98840

• Home prices YoY: -30.6%
• Active inventory: 63
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $1,653 medium
• Mortgage (P&I): −$812
• Tax est. 1.5%: −$194 /mo · $2,324/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$347
• Net cashflow: $235

Break-even live

Break-even rent $1,355

Max offer price $154,900

Occupancy floor 81%

Sensitivity live

Price	-10% $342	-5% $289	+0% $235	+5% $182	+10% $128
Rent	-10% $105	-5% $170	+0% $235	+5% $300	+10% $366
Rate	-1.0pp $313	-0.5pp $275	base $235	+0.5pp $195	+1.0pp $154

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: $38,725
• Closing costs: $4,647
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-21
   days on market $154,900 Active 29 DOM
2. 2026-06-18
   days on market $154,900 Active 27 DOM
3. 2026-06-17
   days on market $154,900 Active 26 DOM
4. 2026-06-16
   days on market $154,900 Active 25 DOM
5. 2026-06-15
   days on market $154,900 Active 24 DOM
6. 2026-06-15
   days on market $154,900 Active 23 DOM
7. 2026-06-13
   days on market $154,900 Active 22 DOM
8. 2026-06-12
   days on market $154,900 Active 21 DOM
9. 2026-06-10
   price $154,900 Active 18 DOM
10. 2026-06-09
    days on market $165,000 Active 18 DOM
11. 2026-06-08
    days on market $165,000 Active 17 DOM
12. 2026-06-08
    days on market $165,000 Active 16 DOM
13. 2026-06-05
    days on market $165,000 Active 14 DOM
14. 2026-06-03
    days on market $165,000 Active 12 DOM
15. 2026-06-02
    days on market $165,000 Active 11 DOM
16. 2026-06-01
    days on market $165,000 Active 10 DOM
17. 2026-05-31
    days on market $165,000 Active 9 DOM
18. 2026-05-22
    listed $165,000 Active
19. 1987-09-01
    soldstatus $19,000

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 9/10 Extreme
• 🌡 Heat 5/10 Major 7 d/yr ≥98°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 22 unhealthy d/yr today · 23 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,833
• − Mortgage interest: −$8,677
• − Property taxes: −$2,324
• − Insurance: −$774
• − Repairs & maintenance: −$1,587
• − Management: −$1,587
• − Depreciation: −$4,506
• Taxable income: $379
• Est. tax owed @ 24.0%: −$91
• After-tax cash flow: $2,731/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: Okanogan School District
• NCES district ID: 5306150
• Math proficiency: 40% ▲ 7.00%
• Reading proficiency: 55% ▲ 4.00%
• Median HH income: $40,402
• Composite: 41.89/100
• National rank: #7127
• State rank: #173 of 291 in WA

Livability — Okanogan

• Score: 68/100
• State rank: #267
• US rank: #9301

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Okanogan, WA
• Population (ZIP): 5,084

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 (71%)
• Race & ethnicity: White 71% Two or more races 18% Hispanic / Latino 13% Native American 5%
• Hispanic origin (detail): Mexican 13%
• Common ancestry: Portuguese 6% Italian 4% Romanian 2%
• Foreign-born: 6% · Canada
• Languages at home: 88% English-only · Spanish 10% Other Indo-European 1% Other Asian/Pacific 1%

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: ▼ -100.44%
• Current HPI: 228.1084
• 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

+768.4% since first listed

2 events — show timeline

• 2026-05-22 Listed $165,000 NWMLS as Distributed by MLS Grid
• 1987-09-01 Sold (Public Records) $19,000 Public Records

Property tax history

+19.5%/yr

Latest (2020): $10 · +0.0% YoY. Source: county tax records.