511 S Crystal Ave

LaCrosse, WA 99143

$43,000B+

3 bd · 1.0 ba · 960 sqft · Built 1920 · SingleFamily · Active · 198 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,204/mo
• Mortgage (P&I): −$225
• Tax + insurance: −$28
• HOA: −$0
• Vac / Maint / Mgmt: −$253
• Net cashflow: $698/mo
• Annual: $8,374/yr
• Cap rate: 25.77%
• Cash-on-cash: 69.55%
• DSCR: 4.09
• 1% rule: 2.80%
• Cash to close: $12,040

Investor read

• This is a 3-bed/1.0-bath single-family listed at $43k.
• At list price, monthly cash flow is $698 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $43k).
• It's been on market 198 days — a 12% lower offer ($38k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $38k (12.0% below list) — sets the bar for market timing.
• In year one you build about $790 of equity ($297 loan paydown + $493 appreciation (1.1% local appreciation)).
• Location reads 58/100 on livability (#510 in WA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: health & safety C-, crime F, amenities F.
• Lacrosse School District (rural): math 50% / reading 60% proficiency, ranked #114 of 291 in WA (top 39%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Lacrosse Elementary School (42 students, 64% FRL); Lacrosse High School (30 students, 47% FRL) — zoned schools average 56% FRL vs 25% district-wide (30 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 14 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.
• At projected returns (1.1% appreciation + 3.0% rent growth), your $12k cash investment doubles in ~2 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 198 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1920 — 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.
• 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.