9854 Apple Rd NE · Moses Lake, WA 98837

$248,900

2 bd · 2.0 ba · 1,092 sqft · Other public records · 67 Days on market

Built 1945 8,588 sqft lot $228/sqft · 16% below area Est $300k · 17% under

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Why this score? — see what drove the D 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).

• ARV discount +15.0/15.0
• Cash flow +9.0/30.0
• Schools +3.9/10.0
• Livability +3.8/5.0
• DSCR +2.5/10.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0
• 1% rule +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks

Fully remodeled, down to the studs! This very nice 3 bed/2 bath home is centrally located just minutes from everything in town, and near an elementary school. This home has brand new siding, windows, insulation, electrical, plumbing, appliances, roof, everything! The interior boast a cozy, open concept feel Laminate floor throughout with carpet in the bedrooms. Very large yard with partially fenced back yard. Great property a great price!

Key facts

• Remodeled
• New plumbing
• New siding

Tags

• REMODELED
• NEW SIDING
• NEW WINDOWS
• NEW INSULATION
• NEW ELECTRICAL
• NEW PLUMBING

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath other listed at $249k.

Deal economics

• At list price, monthly cash flow is $-197 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $214k (14.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $160k (35.6% below list).
• Recommended offer: $160k (35.6% below list) — sets the bar for 1% rule.
• Cap rate 5.3% vs local median 3.3% in Moses Lake — 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 75/100 on livability (#170 in WA, #4,228 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, amenities A-; Watch: employment C-, crime F, commute F.
• Moses Lake School District (town): math 38% / reading 48% proficiency, ranked #198 of 291 in WA (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Longview Elementary (357 students, 71% FRL); Columbia Middle School (878 students, 63% FRL); Moses Lake High School (1,984 students, 64% FRL).
• Market conditions: Rents soft (-1.7%/yr); 589 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 559 units permitted in Grant County in 2024 (35 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Grant County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 67 days — a 6% lower offer ($234k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y 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.
• Current owner paid $103k; list at $249k implies a 142% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1945 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $160,395 (35.6% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 67 days. Have you received any prior offers? Is the seller open to a 36% concession, seller financing, or rate buy-down credit?
3. Built in 1945 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
9. 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.
10. 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.
11. 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: 0.64% ✗
• Cap rate: 5.34%
• Cash-on-cash: -3.39%
• DSCR: 0.85
• GRM: 12.9

CMA / ARV

• ARV (median comp): $299,902
• List price: $248,900
• Delta: -17.01%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -24.9%
• Equity multiple: 0.17×
• Total profit: $-57,717
• Equity at exit: $37,112

10-year hold

• IRR: -30.6%
• Equity multiple: -0.22×
• Total profit: $-85,126
• Equity at exit: $21,520

Cash invested: $69,692 (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 98837

• Rents YoY: -1.7%
• Active inventory: 589
• Price-to-rent: 12.9×

Monthly cashflow live

• Estimated rent: $1,604 high
• Mortgage (P&I): −$1,305
• Tax from tax record: −$55 /mo · $663/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$337
• Net cashflow: $-197

Break-even live

Break-even rent $1,853

Max offer price $214,089

Occupancy floor —

Sensitivity live

Price	-10% $-56	-5% $-127	+0% $-197	+5% $-268	+10% $-338
Rent	-10% $-324	-5% $-260	+0% $-197	+5% $-134	+10% $-70
Rate	-1.0pp $-72	-0.5pp $-134	base $-197	+0.5pp $-262	+1.0pp $-327

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: $62,225
• Closing costs: $7,467
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4208 Stratford Rd NE Moses Lake, WA	3.0	1.0	1440	$1,495	$1.04	45d	1	0.27mi
9436 Beacon Rd NE Moses Lake, WA	2.0	1.0	1181	$1,295	$1.10	45d	1	0.47mi
1013 W Maple Dr Moses Lake, WA	3.0	2.0	1450	$1,875	$1.29	45d	1	0.66mi
1118 W Sequoia Rd Moses Lake, WA	3.0	2.0	1235	$2,000	$1.62	45d	1	0.74mi
1133 N Grape Dr Moses Lake, WA	1.0–2.0	1.0–2.0	859	$1,825	$2.12	45d	12	0.90mi
606 W Crest Dr Moses Lake, WA	2.0	2.0	1200	$1,800	$1.50	45d	1	1.00mi
1013 N Pierce Dr Apt B Moses Lake, WA	3.0	2.0	1200	$1,695	$1.41	45d	1	1.03mi
4727 Owens Rd NE #24 Moses Lake, WA	2.0	1.0	900	$1,200	$1.33	45d	1	1.23mi
422 N Washington St Moses Lake, WA	3.0	2.0	1166	$2,200	$1.89	45d	1	1.30mi

Listing history 7 events

1. 2026-05-13
   price $248,900
2. 2026-04-08
   price $254,599
3. 2026-03-15
   listed $258,900 Active
4. 2024-02-21
   soldstatus $103,000 Closed
5. 2024-02-08
   status Pending
6. 2024-02-05
   listed $100,000 Active
7. 1982-06-01
   soldstatus $35,000

ⓘ 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: $663 · $55/mo
• Projected year-2 tax: $2,439 · $203/mo
• Expected delta: +$1,777/yr (+$148/mo · 268.2%)

ⓘ 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 4/10 Moderate 7 d/yr ≥96°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 9/10 Extreme 18 unhealthy d/yr today · 18 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,247
• − Mortgage interest: −$13,942
• − Property taxes: −$663
• − Insurance: −$1,244
• − Repairs & maintenance: −$1,540
• − Management: −$1,540
• − Depreciation: −$7,241
• Taxable loss: −$6,922
• Est. tax savings @ 24.0%: +$1,661
• After-tax cash flow: $-703/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: Moses Lake School District
• NCES district ID: 5305220
• Math proficiency: 38% ▬ 0.00%
• Reading proficiency: 48% ▼ -1.00%
• Median HH income: $49,033
• Composite: 39.17/100
• National rank: #8232
• State rank: #198 of 291 in WA

Livability — Moses Lake

• Score: 75/100
• State rank: #170
• US rank: #4228

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Grant County · 61,643 people
• City population: 49,455
• Metro: Moses Lake, WA
• Population (ZIP): 49,455
• Household income: $74,586
• Rent vs Own: 33.4% rent · 66.6% own
• Severe rent burden: 1064.0

Population outlook (Grant County) Hauer SSP2

• Today (2025): 99,356 people
• By 2030: 102,107 · +2.8%
• By 2040: 108,318 · +9.0%
• By 2050: 114,712 · +15.5%
• By 2075: 131,376 · +32.2%
• By 2100: 146,163 · +47.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.55)
• Race & ethnicity: White 58% Hispanic / Latino 33% Two or more races 15% Black 2% Asian 1%
• Hispanic origin (detail): Mexican 30%
• Common ancestry: Portuguese 3% Subsaharan African 2% Lithuanian 2%
• Foreign-born: 10% · Canada
• Languages at home: 76% English-only · Spanish 21% Russian/Polish/Slavic 2%

Political lean MEDSL · Grant

• 2024 margin: Solid R (+37.5) · D 30.0% · R 67.4% · Other 2.6%
• 2008→2024 swing: -9.9pp toward R · 2008: -27.5pp · 2024: -37.5pp
• All cycles: 2024: R+37.5 2020: R+34.4 2016: R+37.9 2012: R+32.6 2008: R+27.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -384.29%
• Current HPI: 208.4574
• Rent YoY: ▼ -1.72%
• Metro: Moses Lake, 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

+611.1% since first listed

7 events — show timeline

• 2026-05-13 Price Changed $248,900 NWMLS as Distributed by MLS Grid
• 2026-04-08 Price Changed $254,599 NWMLS as Distributed by MLS Grid
• 2026-03-15 Listed $258,900 NWMLS as Distributed by MLS Grid
• 2024-02-21 Sold (MLS) $103,000 NWMLS as Distributed by MLS Grid
• 2024-02-08 Pending — NWMLS as Distributed by MLS Grid
• 2024-02-05 Listed $100,000 NWMLS as Distributed by MLS Grid
• 1982-06-01 Sold (Public Records) $35,000 Public Records

Property tax history

-1.9%/yr

Latest (2026): $663 · +0.0% YoY. Source: county tax records.