81 Laurel Ln

Ronald, WA 98922

$289,000C-

2 bd · 2.0 ba · 1,056 sqft · Built 2003 · Manufactured · Active · 95 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,875/mo
• Mortgage (P&I): −$1,516
• Tax + insurance: −$278
• HOA: −$0
• Vac / Maint / Mgmt: −$604
• Net cashflow: $478/mo
• Annual: $5,733/yr
• Cap rate: 8.28%
• Cash-on-cash: 7.08%
• DSCR: 1.32
• 1% rule: 0.99%
• Cash to close: $80,920

Investor read

• This is a 2-bed/2.0-bath manufactured listed at $289k.
• At list price, monthly cash flow is $478 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $288k (0.5% below list).
• It's been on market 95 days — a 9% lower offer ($263k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $263k (9.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Location reads 48/100 on livability (#583 in WA) — a working-class tenant base; expect higher turnover. Strengths: crime A, cost of living B+; Watch: health & safety C-, schools D+, amenities F.
• Cle Elum-Roslyn School District (town): math 45% / reading 60% proficiency, ranked #126 of 291 in WA (top 43%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 492 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 433 units permitted in Kittitas County in 2024 (23 in 5+ unit buildings).
• Kittitas County population projected at +30% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Current owner paid $35k; list at $289k implies a 726% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 95 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• 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.
• 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?
• 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.