78 Main St

Wishram, WA 98673

$67,000B

4 bd · 2.0 ba · 1,809 sqft · Built 1977 · Manufactured · Pending · 12 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,397/mo
• Mortgage (P&I): −$351
• Tax + insurance: −$152
• HOA: −$0
• Vac / Maint / Mgmt: −$293
• Net cashflow: $600/mo
• Annual: $7,201/yr
• Cap rate: 18.04%
• Cash-on-cash: 41.94%
• DSCR: 2.87
• 1% rule: 2.08%
• Cash to close: $18,760

Investor read

• This is a 4-bed/2.0-bath manufactured listed at $67k.
• At list price, monthly cash flow is $600 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $67k).
• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-1.4%/yr); year-one equity from $463 of loan paydown is wiped out by about $940 of value loss. Plan a longer hold.
• Location reads 60/100 on livability (#473 in WA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A; Watch: health & safety C-, commute D, schools D-.
• Wishram School District (rural): math 21% / reading 40% proficiency, ranked #269 of 291 in WA (top 92%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 88% free/reduced lunch — lower-income household profile, screen leases tightly.
• Watch-outs: flood insurance adds $56/mo.
• Market conditions: 10 active listings in the ZIP; 80 units permitted in Klickitat County in 2024 (0 in 5+ unit buildings).
• Klickitat County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 3 sale attempts since 22y 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 (-1.4% appreciation + 3.0% rent growth), your $19k cash investment doubles in ~3 years — after that, you're playing with house money.
• Climate carrying-cost: severe flood risk; severe wildfire risk; extreme-heat days projected 8→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• 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?
• Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• 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.