70 Appleton Rd

Lyle, WA 98602

$245,000A-

2 bd · 2.0 ba · 1,600 sqft · Built 1977 · Manufactured · Active · 329 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $5,200/mo
• Mortgage (P&I): −$1,285
• Tax + insurance: −$266
• HOA: −$0
• Vac / Maint / Mgmt: −$1,092
• Net cashflow: $2,557/mo
• Annual: $30,683/yr
• Cap rate: 18.82%
• Cash-on-cash: 44.73%
• DSCR: 2.99
• 1% rule: 2.12%
• Cash to close: $68,600

Investor read

• This is a 2-bed/2.0-bath manufactured listed at $245k.
• At list price, monthly cash flow is $3k ($31k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $245k).
• It's been on market 329 days — a 12% lower offer ($216k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $216k (12.0% below list) — sets the bar for market timing.
• In year one you build about $271 of equity ($2k loan paydown + $-1k appreciation (-0.6% local appreciation)).
• Location reads 64/100 on livability (#361 in WA) — a middle-class / working-renter tenant base. Strengths: crime A, cost of living A; Watch: health & safety C-, schools D+, employment D+.
• Lyle School District (rural): math 30% / reading 35% proficiency, ranked #261 of 291 in WA (top 90%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 63% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 5 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 80 units permitted in Klickitat County in 2024 (0 in 5+ unit buildings).
• Klickitat County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-0.6% appreciation + 3.0% rent growth), your $69k cash investment doubles in ~3 years — after that, you're playing with house money.
• Climate carrying-cost: severe wildfire risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 329 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1977 — 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 D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.