618 N 3rd Ave · Kelso, WA 98626

$99,000

1 bd · 1.0 ba · 480 sqft · SingleFamily public records · 8 Days on market

Built 1948 3,920 sqft lot $206/sqft · 52% 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 +28.9/30.0
• DSCR +10.0/10.0
• 1% rule +7.5/10.0
• ARV discount +7.5/15.0
• Schools +4.0/10.0
• Rent growth +3.5/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Affordable home located in the heart of town. While this property requires your vision and love to reach its full potential, it offers exceptional value with spacious parking for an RV and more. It's perfect for investors or first time buyers seeking that elusive diamond in the rough. You'll enjoy a cute and convenient neighborhood, placing you steps away from local shopping, easy highway access, and scenic river views. This is a rare opportunity to customize a home in a highly desirable location, allowing you to build equity and create your dream space.

Key facts

• Easy highway access
• Local shopping
• Scenic river views

Tags

• SPACIOUS PARKING FOR AN RV
• LOCAL SHOPPING
• EASY HIGHWAY ACCESS
• SCENIC RIVER VIEWS
• HIGHLY DESIRABLE LOCATION

Property features AI

Exterior

• Parking: Off-street parking for 3 vehicles; RV parking available; Detached carport (3 spaces)
• Utilities: Public water; Public sewer; Electric service (includes electric hot water)
• Home design: Single-family residence (detached); Residential property in fixer condition; Main living area on single level; Built in 1948
• Construction: Block foundation
• Exterior features: Metal roof; Wood siding; RV parking; Level lot on a paved public road; Territorial view

Interior

• Kitchen: Free-standing range; Free-standing refrigerator; Kitchen located on main level
• Bedrooms: Primary bedroom on main level; Additional living spaces: Living Room (main), Family Room, Great Room, Dining Room
• Bathrooms: 1 full bathroom (on main level)
• Heating & cooling: No heating; No cooling
• Interior features: Accessible (ground level, one level, parking); Vinyl window frames; Crawl space basement with dirt floor and exterior entry
• Laundry & utility: Electric hot water

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $99k.

Deal economics

• At list price, monthly cash flow is $337 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $99k).
• Cap rate 10.4% vs local median 3.4% in Kelso — 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 (#324 in WA) — a middle-class / working-renter tenant base. Strengths: housing A+, cost of living A-; Watch: health & safety C-, amenities F, commute F.
• Kelso School District (suburban): math 35% / reading 53% proficiency, ranked #191 of 291 in WA (top 66%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Wallace Elementary (342 students, 88% FRL); Huntington Middle School (539 students, 76% FRL); Kelso High School (1,424 students, 61% FRL) — zoned schools average 75% FRL vs 50% district-wide (25 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+4.1%/yr); 217 active listings in the ZIP; solid renter incomes; 348 units permitted in Cowlitz County in 2024 (40 in 5+ unit buildings).

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.
• Cowlitz County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 4.1% rent growth), your $28k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $23k; list at $99k implies a 330% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $99,000

Questions for the listing agent

1. Built in 1948 — 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 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?
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: 1.25% ✓
• Cap rate: 10.37%
• Cash-on-cash: 14.57%
• DSCR: 1.65
• GRM: 6.7

CMA / ARV

• ARV (median comp): $205,236
• List price: $99,000
• Delta: -43.97%
• Verdict: UNDERPRICED
• Comps: 10 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
203 Grant St	0.44mi	1/1.0	408 (-15%)	3mo	$160,000	$392	52

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 · 4.1% rent growth · sell at horizon

5-year hold

• IRR: 6.2%
• Equity multiple: 1.24×
• Total profit: $6,763
• Equity at exit: $14,761

10-year hold

• IRR: 16.5%
• Equity multiple: 2.42×
• Total profit: $39,243
• 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 98626

• Rents YoY: 4.1%
• Active inventory: 217
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $1,234 medium
• Mortgage (P&I): −$519
• Tax from tax record: −$78 /mo · $931/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$259
• Net cashflow: $337

Break-even live

Break-even rent $808

Max offer price $99,000

Occupancy floor 68%

Sensitivity live

Price	-10% $393	-5% $365	+0% $337	+5% $309	+10% $281
Rent	-10% $239	-5% $288	+0% $337	+5% $385	+10% $434
Rate	-1.0pp $386	-0.5pp $362	base $337	+0.5pp $311	+1.0pp $285

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: —

Listing history 16 events

1. 2026-06-19
   days on market $99,000 Active 8 DOM
2. 2026-06-18
   days on market $99,000 Active 7 DOM
3. 2026-06-17
   days on market $99,000 Active 6 DOM
4. 2026-06-16
   days on market $99,000 Active 5 DOM
5. 2026-06-15
   days on market $99,000 Active 4 DOM
6. 2026-06-14
   days on market $99,000 Active 2 DOM
7. 2026-06-13
   remarks 560-char remark
8. 2026-06-13
   pricestatusdays on marketlisting id $99,000 Active 1 DOM
9. 2026-06-02
   price $115,000 Pending 267 DOM
10. 2025-12-10
    status Active
11. 2025-09-23
    status Active
12. 2025-09-18
    status Pending
13. 2025-08-30
    price $150,000
14. 2025-08-07
    price $175,000
15. 2025-07-25
    listed $200,000 Active
16. 1993-07-01
    soldstatus $23,000

ⓘ 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: $931 · $78/mo
• Projected year-2 tax: $970 · $81/mo
• Expected delta: +$39/yr (+$3/mo · 4.2%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥88°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 7/10 Severe 9 unhealthy d/yr today · 10 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,803
• − Mortgage interest: −$5,546
• − Property taxes: −$931
• − Insurance: −$495
• − Repairs & maintenance: −$1,184
• − Management: −$1,184
• − Depreciation: −$2,880
• Taxable income: $2,583
• Est. tax owed @ 24.0%: −$620
• After-tax cash flow: $3,419/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: Kelso School District
• NCES district ID: 5300003
• Math proficiency: 35% ▼ -2.00%
• Reading proficiency: 53% ▼ -1.00%
• Median HH income: $47,840
• Composite: 39.83/100
• National rank: #7963
• State rank: #191 of 291 in WA

Livability — Kelso

• Score: 65/100
• State rank: #324
• US rank: #12232

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Kelso, WA
• County: Cowlitz County · 77,527 people
• City population: 26,892
• Metro: Longview, WA
• Population (ZIP): 26,892
• Household income: $75,528
• Rent vs Own: 31.5% rent · 68.5% own
• Severe rent burden: 722.0

Population outlook (Cowlitz County) Hauer SSP2

• Today (2025): 104,780 people
• By 2030: 103,980 · -0.8%
• By 2040: 100,769 · -3.8%
• By 2050: 96,685 · -7.7%
• By 2075: 86,454 · -17.5%
• By 2100: 74,052 · -29.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Hispanic / Latino 7% Two or more races 7% Native American 2% Asian 1%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Portuguese 5% Slovak 4% Italian 3%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 3% Tagalog/Filipino 1%

Political lean MEDSL · Cowlitz

• 2024 margin: R (+19.9) · D 38.7% · R 58.6% · Other 2.7%
• 2008→2024 swing: -31.1pp toward R · 2008: 11.2pp · 2024: -19.9pp
• All cycles: 2024: R+19.9 2020: R+17.4 2016: R+13.7 2012: D+4.4 2008: D+11.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -321.36%
• Current HPI: 262.8196
• Rent YoY: ▲ 4.10%
• Metro: Longview, 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

+330.4% since first listed

2 events — show timeline

• 2026-06-11 Listed $99,000 RMLS
• 1993-07-01 Sold (Public Records) $23,000 Public Records

Property tax history

+4.3%/yr

Latest (2026): $931 · +4.6% YoY. Source: county tax records.