2115 6th #60

Clarkston Heights-Vineland, WA 99403

$99,000B

3 bd · 2.0 ba · 1,326 sqft · Built 1998 · Manufactured · Pending · 13 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,377/mo
• Mortgage (P&I): −$519
• Tax + insurance: −$115
• HOA: −$0
• Vac / Maint / Mgmt: −$289
• Net cashflow: $453/mo
• Annual: $5,438/yr
• Cap rate: 11.79%
• Cash-on-cash: 19.62%
• DSCR: 1.87
• 1% rule: 1.39%
• Cash to close: $27,720

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $99k.
• 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 $99k).
• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 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.
• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Clarkston School District (suburban): math 38% / reading 57% proficiency, ranked #172 of 291 in WA (top 59%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Heights Elementary (361 students, 45% FRL); Lincoln Middle School (318 students, 60% FRL); Charles Francis Adams High School (753 students, 49% FRL) — zoned schools at 52% FRL track the district average.
• Market conditions: 250 active listings in the ZIP; 101 units permitted in Asotin County in 2024 (72 in 5+ unit buildings).
• Asotin County population projected to shrink 3% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 4 sale attempts since 9y 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~7 years — after that, you're playing with house money.
• Cap rate 11.8% vs local median 1.5% in Clarkston Heights-Vineland — 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.

Questions for listing agent

• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.