130 Schilling Dr · Moses Lake North, WA 98837

$125,000

3 bd · 2.0 ba · 1,437 sqft · SingleFamily public records · 7 Days on market

Built 1961 0.50 ac lot $87/sqft · 51% below area ↓ 5% since listing

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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
• DSCR +10.0/10.0
• 1% rule +8.3/10.0
• ARV discount +7.5/15.0
• Schools +3.9/10.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0
• Appreciation +0.0/10.0

Listing remarks

Opportunity knocks! Fire-damaged home on a generous ½-acre lot with a 930 +/- sq ft detached shop. Prime location near Highway 17 and the local schools. Perfect chance for investors, builders, or trades people to rebuild and create instant equity. Utilities on site. Sold AS-IS priced for quick sale.

Key facts

• ½-acre lot
• Utilities on site
• Detached shop

Tags

• ½-ACRE LOT
• DETACHED SHOP
• PRIME LOCATION
• UTILITIES ON SITE

Property features AI

Finance

• Financial info: Listing terms: Cash or rehab loan

Exterior

• Parking: Attached carport (4 covered/carport spaces); RV parking
• Security: Partially fenced
• Utilities: Public water (City of Moses Lake); Sewer connected (City of Moses Lake); Electric service (Grant County PUD)
• Home design: Single-family residence; One-story; Built on lot; Entry on main level; Has view
• Construction: Brick and wood construction; Composition roof; Poured concrete foundation; Built 1,437 finished square feet
• Exterior features: Brick and wood exterior; Patio; Shop; Outbuildings; RV parking; Partially fenced; Curbs, paved and sidewalk; Level lot

Interior

• Kitchen: Kitchen with eating space
• Bedrooms: Three bedrooms (all on main level); Primary bedroom (main level)
• Bathrooms: One full bathroom (main level) with tub; One three-quarter bathroom (main level)
• Heating & cooling: Baseboard heating; Wall unit cooling
• Interior features: Dining room; Entry hall; Living room; Kitchen with eating space; Utility room; Partially fenced
• Laundry & utility: Utility room (main level)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $501 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Cap rate 11.1% vs local median 1.8% in Moses Lake North — 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 65/100 on livability (#351 in WA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime C-, amenities F, commute F.
• Moses Lake School District (town): math 38% / reading 48% proficiency, ranked #198 of 291 in WA (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Larson Heights Elementary (337 students, 87% FRL); Endeavor Middle School (267 students, 96% FRL); Moses Lake High School (1,984 students, 64% FRL) — zoned schools average 82% FRL vs 53% district-wide (29 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents soft (-1.7%/yr); 589 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 559 units permitted in Grant County in 2024 (35 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $864 of loan paydown is wiped out by about $4k 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 + 0.0% rent growth), your $35k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 7y 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.

Recommended offer $125,000

Questions for the listing agent

1. Built in 1961 — 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. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. 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.
5. 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.
6. 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: 1.33% ✓
• Cap rate: 11.10%
• Cash-on-cash: 17.17%
• DSCR: 1.76
• GRM: 6.3

CMA / ARV

• ARV (median comp): $254,122
• List price: $125,000
• Delta: -50.81%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
130 Schilling Dr	0.00mi	3/2.0	1,437 (0%)	1mo	$132,700	$92	99
9021 McConnell Dr Unit A	0.25mi	3/1.5	1,454 (+1%)	1mo	$250,000	$172	83
9016 Bong Loop Dr Unit B	0.30mi	3/1.5	1,454 (+1%)	3mo	$265,000	$182	80
9023 McConnell Dr Unit B	0.24mi	3/1.5	1,454 (+1%)	9mo	$207,000	$142	77
9011 Bong Loop Unit B	0.33mi	3/1.5	1,454 (+1%)	12mo	$255,000	$175	71
1233 Vandenburg Loop	0.15mi	4/2.0 (+1)	1,338 (-7%)	14mo	$270,000	$202	65
9010 Bong Loop	0.36mi	4/2.0 (+1)	1,502 (+4%)	12mo	$213,000	$142	61
407 Offut Dr	0.57mi	3/2.0	1,350 (-6%)	10mo	$295,000	$219	55
449 Offutt Dr	0.54mi	3/2.0	1,560 (+9%)	10mo	$150,000	$96	52
1214 Arnold Dr	0.56mi	4/1.0 (+1)	1,364 (-5%)	6mo	$265,000	$194	51
1244 Adair St	0.63mi	3/2.0	1,256 (-13%)	8mo	$297,000	$236	43
1217 Lowry St	0.61mi	4/2.0 (+1)	1,276 (-11%)	12mo	$194,850	$153	37

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 5.2%
• Equity multiple: 1.19×
• Total profit: $6,767
• Equity at exit: $18,638

10-year hold

• IRR: 11.8%
• Equity multiple: 1.80×
• Total profit: $28,147
• Equity at exit: $10,808

Cash invested: $35,000 (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 98837

• Rents YoY: -1.7%
• Active inventory: 589
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $1,657 high
• Mortgage (P&I): −$656
• Tax from tax record: −$101 /mo · $1,213/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$348
• Net cashflow: $501

Break-even live

Break-even rent $1,024

Max offer price $125,000

Occupancy floor 65%

Sensitivity live

Price	-10% $571	-5% $536	+0% $501	+5% $465	+10% $430
Rent	-10% $370	-5% $435	+0% $501	+5% $566	+10% $632
Rate	-1.0pp $564	-0.5pp $532	base $501	+0.5pp $468	+1.0pp $435

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1232 Vandenburg Ave Moses Lake, WA	2.0	1.0	960	$1,250	$1.30	45d	1	0.14mi
8915 Travis Dr Unit B Moses Lake, WA	3.0	1.0	1144	$1,100	$0.96	45d	1	0.29mi
205 March Dr NE Unit Labs Moses Lake, WA	3.0	1.5	1440	$1,750	$1.22	45d	1	0.38mi
207 March Dr NE Moses Lake, WA	3.0	1.5	1220	$1,850	$1.52	45d	1	0.39mi
7622 McDougal Ave NE Unit 3 Moses Lake, WA	3.0	2.5	1810	$2,300	$1.27	45d	1	0.49mi
7560 McDougal Ave NE Unit C Moses Lake, WA	2.0	2.0	1360	$1,950	$1.43	45d	1	0.52mi
1422 E Craig St Moses Lake, WA	2.0–4.0	1.0–2.0	980	$1,138	$1.16	46d	1	0.90mi
4727 Owens Rd NE #24 Moses Lake, WA	2.0	1.0	900	$1,200	$1.33	45d	1	1.10mi

Listing history 7 events

1. 2026-05-18
   status Pending
2. 2026-05-11
   listed $125,000 Active
3. 2019-10-15
   soldstatus $139,900 Sold
4. 2019-10-15
   soldstatus $139,900
5. 2019-09-26
   status Pending
6. 2019-09-25
   status Pending Inspection
7. 2019-09-13
   listed $139,900 Active

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

Tax reassessment forecast WA · Resets to sale price

• Current annual tax: $1,213 · $101/mo
• Projected year-2 tax: $1,225 · $102/mo
• Expected delta: +$12/yr (+$1/mo · 1.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥96°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: $19,890
• − Mortgage interest: −$7,002
• − Property taxes: −$1,213
• − Insurance: −$625
• − Repairs & maintenance: −$1,591
• − Management: −$1,591
• − Depreciation: −$3,636
• Taxable income: $4,231
• Est. tax owed @ 24.0%: −$1,015
• After-tax cash flow: $4,993/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: Moses Lake School District
• NCES district ID: 5305220
• Math proficiency: 38% ▬ 0.00%
• Reading proficiency: 48% ▼ -1.00%
• Median HH income: $49,033
• Composite: 39.17/100
• National rank: #8232
• State rank: #198 of 291 in WA

Livability — Moses Lake North

• Score: 65/100
• State rank: #351
• US rank: #13402

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Moses Lake North, WA
• County: Grant County · 61,643 people
• Metro: Moses Lake, WA
• Population (ZIP): 49,455
• Household income: $74,586
• Rent vs Own: 33.4% rent · 66.6% own
• Severe rent burden: 1064.0

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: Diverse neighborhood (Simpson 0.55)
• Race & ethnicity: White 58% Hispanic / Latino 33% Two or more races 15% Black 2% Asian 1%
• Hispanic origin (detail): Mexican 30%
• Common ancestry: Portuguese 3% Subsaharan African 2% Lithuanian 2%
• Foreign-born: 10% · Canada
• Languages at home: 76% English-only · Spanish 21% Russian/Polish/Slavic 2%

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: ▼ -384.29%
• Current HPI: 208.4574
• Rent YoY: ▼ -1.72%
• 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

-4.9% since first listed

9 events — show timeline

• 2026-05-29 Sold (Public Records) $133,000 Public Records
• 2026-05-29 Sold (MLS) $132,700 NWMLS as Distributed by MLS Grid
• 2026-05-18 Pending — NWMLS as Distributed by MLS Grid
• 2026-05-11 Listed $125,000 NWMLS as Distributed by MLS Grid
• 2019-10-15 Sold (Public Records) $139,900 Public Records
• 2019-10-15 Sold (MLS) $139,900 NWMLS as Distributed by MLS Grid
• 2019-09-26 Pending — NWMLS as Distributed by MLS Grid
• 2019-09-25 Pending — NWMLS as Distributed by MLS Grid
• 2019-09-13 Listed $139,900 NWMLS as Distributed by MLS Grid

Property tax history

-1.0%/yr

Latest (2026): $1,213 · +0.0% YoY. Source: county tax records.