900 N Grape Dr #49 · Moses Lake, WA 98837

$49,900

2 bd · 1.0 ba · 784 sqft · Manufactured · 112 Days on market

Built 1983 Good condition $64/sqft · 37% below area Est $79k · 37% under ↓ 8% since listing

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Why this score? — see what drove the B+ 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Condition / age +4.0/5.0
• Schools +3.9/10.0
• Livability +3.8/5.0
• Rent growth +2.1/5.0
• Appreciation +0.0/10.0

Listing remarks

Freshly remodeled and move in ready! If you're looking for an affordable home to own, you'll want to check this out! Newer roof, windows and painted siding. Inside, remodeled kitchen and bath, updated flooring and new paint. Even the new washer dryer and all kitchen appliances are included! Easy care landscaping and secluded yard top of this beauty! Don't wait and schedule your showing today!

Key facts

• New washer dryer
• Remodeled kitchen
• Updated flooring

Tags

• REMODELED KITCHEN
• REMODELED BATH
• UPDATED FLOORING
• NEW WASHER DRYER
• EASY CARE LANDSCAPING
• SECLUDED YARD

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $50k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $839 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• Recommended offer: $45k (9.0% below list) — sets the bar for market timing.
• Cap rate 26.5% 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-, schools D+, crime 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.
• Market conditions: Rents soft (-1.7%/yr); 585 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 44d 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 $345 of loan paydown is wiped out by about $1k 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.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 112 days — a 9% lower offer ($45k) is reasonable based on typical stale-listing flexibility.

Recommended offer $45,409 (9.0% below list)

Questions for the listing agent

1. It's been on market 112 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 3.00% ✓
• Cap rate: 26.47%
• Cash-on-cash: 72.07%
• DSCR: 4.21
• GRM: 2.8

CMA / ARV

• ARV (median comp): $78,750
• List price: $49,900
• Delta: -36.63%
• Verdict: UNDERPRICED
• Comps: 2 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 68.3%
• Equity multiple: 3.93×
• Total profit: $40,992
• Equity at exit: $7,440

10-year hold

• IRR: 71.5%
• Equity multiple: 7.27×
• Total profit: $87,635
• Equity at exit: $4,314

Cash invested: $13,972 (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: 585
• Price-to-rent: 2.8×

Monthly cashflow live

• Estimated rent: $1,499 high
• Mortgage (P&I): −$262
• Tax est. 1.5%: −$62 /mo · $748/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$315
• Net cashflow: $839

Break-even live

Break-even rent $437

Max offer price $49,900

Occupancy floor 39%

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: $12,475
• Closing costs: $1,497
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1133 N Grape Dr Moses Lake, WA	1.0–2.0	1.0–2.0	859	$1,825	$2.12	44d	12	0.14mi
523 W Crest Dr Unit 52303 Moses Lake, WA	1.0	1.0	630	$895	$1.42	44d	1	0.47mi
9396 Beacon Rd NE Moses Lake, WA	1.0	1.0	600	$995	$1.66	44d	1	0.64mi
4727 Owens Rd NE #24 Moses Lake, WA	2.0	1.0	900	$1,200	$1.33	44d	1	1.09mi
5025 Owens Rd NE Unit A301 Moses Lake, WA	1.0	1.0	596	$1,250	$2.10	44d	1	1.29mi
615 S Alder St #02 Moses Lake, WA	2.0	1.0	742	$1,200	$1.62	44d	1	1.45mi

Listing history 20 events

1. 2026-06-19
   days on market $49,900 Active 112 DOM
2. 2026-06-18
   days on market $49,900 Active 111 DOM
3. 2026-06-17
   days on market $49,900 Active 110 DOM
4. 2026-06-16
   days on market $49,900 Active 109 DOM
5. 2026-06-15
   days on market $49,900 Active 108 DOM
6. 2026-06-14
   days on market $49,900 Active 106 DOM
7. 2026-06-13
   days on market $49,900 Active 105 DOM
8. 2026-06-10
   days on market $49,900 Active 103 DOM
9. 2026-06-09
   days on market $49,900 Active 102 DOM
10. 2026-06-09
    price $49,900 Active 101 DOM
11. 2026-06-08
    days on market $54,900 Active 101 DOM
12. 2026-06-07
    days on market $54,900 Active 100 DOM
13. 2026-06-05
    days on market $54,900 Active 97 DOM
14. 2026-06-03
    days on market $54,900 Active 96 DOM
15. 2026-06-02
    days on market $54,900 Active 95 DOM
16. 2026-06-01
    days on market $54,900 Active 94 DOM
17. 2026-05-31
    days on market $54,900 Active 93 DOM
18. 2026-05-30
    days on market $54,900 Active 92 DOM
19. 2026-04-16
    price $54,900
20. 2026-02-27
    listed $59,900 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥96°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 7/10 Severe 12 unhealthy d/yr today · 14 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,985
• − Mortgage interest: −$2,795
• − Property taxes: −$748
• − Insurance: −$250
• − Repairs & maintenance: −$1,439
• − Management: −$1,439
• − Depreciation: −$1,452
• Taxable income: $9,863
• Est. tax owed @ 24.0%: −$2,367
• After-tax cash flow: $7,703/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.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab

This home is move-in ready with fresh updates, including a new roof, updated kitchen and bath, and fresh paint. The landscaping can be improved to further enhance curb appeal and add value.

Value-add opportunities

• Both landscaping — enhances curb appeal and adds value
• Both painting — fresh paint improves appearance and value
• Both landscaping — improves curb appeal and adds value

Renovation cost estimate screening

Value-add ROI direction

• Both landscaping — enhances curb appeal and adds value ↑
• Both painting — fresh paint improves appearance and value ↑
• Both landscaping — improves curb appeal and adds value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

• Census place: Moses Lake, WA
• 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

-8.3% since first listed

2 events — show timeline

• 2026-04-16 Price Changed $54,900 NWMLS as Distributed by MLS Grid
• 2026-02-27 Listed $59,900 NWMLS as Distributed by MLS Grid