3507 HAMLETT Rd · Kettle Falls, WA 99141

$69,900

2 bd · 1.0 ba · 1,880 sqft · SingleFamily public records · 35 Days on market

Built 1976 4.00 ac lot $37/sqft · 71% below area

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Why this score? — see what drove the A- 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.7/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Two parcels for sale in Kettle Falls WA (2002835 & 2004795). One parcel has an unhabitable home on it built in 1976 on 2 acres with 2 bedrooms, 1 bathroom, living room, and kitchen with eating area. The septic system, well, and electrical are in unknown working conditions. Buyer will need to do their due diligence regarding this property. The other parcel is 2 acres with a small old tool shed. Property is being sold AS-IS.

Key facts

• 4 acre lot
• Built 1976
• Listed 35 days

Property features AI

Finance

• Other: Lot size approximately 4 acres; Zoning: SFR (single-family residential)
• Financial info: Listing terms: Cash; see remarks

Exterior

• Parking: Driveway
• Utilities: Electric service; Private water source; Septic tank; Water heater type not specified
• Home design: Single-family residence; Two-story house; Built on lot; Entry level includes main and second levels
• Construction: Wood construction; Metal roof; Poured concrete foundation; Effective year built 1976
• Exterior features: Wood products siding; Property is secluded; Dirt road access; Has a view

Interior

• Kitchen: Kitchen with eating space
• Bedrooms: Two bedrooms on the upper level
• Bathrooms: One full bathroom on the upper level
• Interior features: Wood-burning fireplace; Water heater
• Laundry & utility: No heating system listed; No cooling system listed

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $453 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Recommended offer: $68k (3.0% below list) — sets the bar for market timing.
• Cap rate 14.1% vs local median 1.5% in Kettle Falls — 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 73/100 on livability (#194 in WA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, crime A; Watch: amenities F, commute F, employment F.
• Northport School District (rural): math 50% / reading 60% proficiency, ranked #121 of 291 in WA (top 42%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 120 active listings in the ZIP; 341 units permitted in Stevens County in 2024 (72 in 5+ unit buildings).

Forward outlook

• In year one you build about $7k of equity ($483 loan paydown + $7k appreciation (10.0% local appreciation)).
• Stevens County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($68k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $67,803 (3.0% below list)

Questions for the listing agent

1. It's been on market 35 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.59% ✓
• Cap rate: 14.07%
• Cash-on-cash: 27.79%
• DSCR: 2.24
• GRM: 5.2

CMA / ARV

• ARV (median comp): $242,905
• List price: $69,900
• Delta: -71.22%
• Verdict: UNDERPRICED
• Comps: 2 within 2.0 mi

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 45.3%
• Equity multiple: 4.42×
• Total profit: $66,918
• Equity at exit: $62,971

10-year hold

• IRR: 39.3%
• Equity multiple: 9.91×
• Total profit: $174,327
• Equity at exit: $135,800

Cash invested: $19,572 (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 99141

• Home prices YoY: 10.2%
• Active inventory: 120
• Price-to-rent: 5.2×

Monthly cashflow live

• Estimated rent: $1,114 medium
• Mortgage (P&I): −$367
• Tax from tax record: −$31 /mo · $376/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$234
• Net cashflow: $453

Break-even live

Break-even rent $541

Max offer price $69,900

Occupancy floor 54%

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: $17,475
• Closing costs: $2,097
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-06-02
   status $69,900 Pending 35 DOM
2. 2026-06-01
   days on market $69,900 Active 35 DOM
3. 2026-05-31
   days on market $69,900 Active 34 DOM
4. 2026-04-27
   listed $69,900 Active
5. 2026-03-09
   soldstatus $126,393
6. 2001-06-08
   soldstatus $39,000

ⓘ 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: $376 · $31/mo
• Projected year-2 tax: $685 · $57/mo
• Expected delta: +$309/yr (+$26/mo · 82.2%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 Heat 3/10 Moderate 10 d/yr ≥92°F today · 21 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 9/10 Extreme 18 unhealthy d/yr today · 21 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,371
• − Mortgage interest: −$3,915
• − Property taxes: −$376
• − Insurance: −$350
• − Repairs & maintenance: −$1,070
• − Management: −$1,070
• − Depreciation: −$2,033
• Taxable income: $4,557
• Est. tax owed @ 24.0%: −$1,094
• After-tax cash flow: $4,345/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: Northport School District
• NCES district ID: 5305880
• Math proficiency: 50% ▲ 10.00%
• Reading proficiency: 60% ▼ -5.00%
• Median HH income: $31,668
• Composite: 46.98/100
• National rank: #5150
• State rank: #121 of 291 in WA

Livability — Kettle Falls

• Score: 73/100
• State rank: #194
• US rank: #5269

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 6,272

Population outlook (Stevens County) Hauer SSP2

• Today (2025): 43,696 people
• By 2030: 43,203 · -1.1%
• By 2040: 41,190 · -5.7%
• By 2050: 38,231 · -12.5%
• By 2075: 31,260 · -28.5%
• By 2100: 22,931 · -47.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Two or more races 5% Hispanic / Latino 4% Native American 2%
• Common ancestry: Portuguese 11% Lithuanian 5% Iranian 5%
• Foreign-born: 3% · Canada
• Languages at home: 97% English-only · Spanish 1%

Political lean MEDSL · Stevens

• 2024 margin: Solid R (+44.1) · D 26.7% · R 70.8% · Other 2.5%
• 2008→2024 swing: -23.4pp toward R · 2008: -20.7pp · 2024: -44.1pp
• All cycles: 2024: R+44.1 2020: R+42.1 2016: R+40.8 2012: R+27.7 2008: R+20.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 44.15%
• Current HPI: 476.88
• 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

+79.2% since first listed

4 events — show timeline

• 2026-06-01 Pending — NWMLS as Distributed by MLS Grid
• 2026-04-27 Listed $69,900 NWMLS as Distributed by MLS Grid
• 2026-03-09 Sold (Public Records) $126,393 Public Records
• 2001-06-08 Sold (Public Records) $39,000 Public Records

Property tax history

+2.2%/yr

Latest (2026): $376 · +15.2% YoY. Source: county tax records.