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

$41,000

2 bd · 1.0 ba · 784 sqft · Manufactured

Manufactured home Built 1983 Good condition $52/sqft · 48% below area Est $79k · 48% 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
• Appreciation +2.5/10.0
• Rent growth +2.1/5.0
• Manufactured-home adj. -6.5

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 $41k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $556 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $41k).
• Cap rate 22.6% vs local median 3.2% 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: Knolls Vista Elementary (283 students, 80% FRL); Frontier Middle School (758 students, 72% FRL); Moses Lake High School (1,984 students, 64% FRL) — zoned schools average 72% FRL vs 53% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents soft (-1.7%/yr); 832 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 weeks tenant-placement turnaround); 559 units permitted in Grant County in 2024 (35 in 5+ unit buildings).
• This rent is only 17% of the median local income ($75k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $283 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 $11k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $41,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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?
4. 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.
5. 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.
6. 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: 2.59% ✓
• Cap rate: 22.57%
• Cash-on-cash: 58.13%
• DSCR: 3.59
• GRM: 3.2

CMA / ARV

• ARV (median comp): $78,750
• List price: $41,000
• Delta: -47.94%
• Verdict: UNDERPRICED
• Comps: 2 within 2.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1042 W Charlotte St	0.41mi	2/1.0	663 (-15%)	4mo	$252,500	$381	53
900 N Grape Dr #36	0.00mi	3/2.0 (+1)	924 (+18%)	18mo	$48,500	$52	51
415 N Mattson Dr	0.74mi	2/1.0	720 (-8%)	4mo	$215,000	$299	49
614 W Loop Dr	0.46mi	3/1.0 (+1)	962 (+23%)	5mo	$265,000	$275	44
4243 NE Lincoln Dr	0.86mi	2/1.0	872 (+11%)	3mo	$205,000	$235	44
207 W Loop Dr	0.77mi	2/1.0	864 (+10%)	12mo	$255,000	$295	38
4319 Lincoln Dr NE	0.91mi	2/1.0	672 (-14%)	4mo	$180,000	$268	38
4184 Stratford Rd NE	0.92mi	3/1.0 (+1)	960 (+22%)	3mo	$200,000	$208	33
1126 W Columbia Ave	1.47mi	2/1.0	972 (+24%)	12mo	$238,000	$245	30
312 W Ridge Rd	0.68mi	2/1.0	938 (+20%)	17mo	$235,000	$251	29
1103 W Cascade Ave	1.44mi	2/1.0	921 (+18%)	19mo	$196,500	$213	24
4179 Orchard Dr NE #14	1.47mi	2/1.0	924 (+18%)	20mo	$65,000	$70	23

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: 53.3%
• Equity multiple: 3.24×
• Total profit: $25,679
• Equity at exit: $6,113

10-year hold

• IRR: 57.3%
• Equity multiple: 5.88×
• Total profit: $56,001
• Equity at exit: $3,545

Cash invested: $11,480 (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 →

Active competition Active MLS

• For sale now: 1 active
• Median asking: $55,000 ($57/sqft)
• This list price: lowest-priced of the active set
• ARV vs active asking: +75.3% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 98837

• Rents YoY: -1.7%
• Active inventory: 832
• Price-to-rent: 3.2×

Monthly cashflow live

• Estimated rent: $1,063 high
• Mortgage (P&I): −$215
• Tax est. 1.5%: −$51 /mo · $615/yr
• Insurance: −$17
• HOA: −$0
• Lot rent leased land?: −$0
• Vacancy / Maint / Mgmt: −$223
• Net cashflow: $556

Break-even live

Break-even rent $359

Max offer price $41,000

Occupancy floor 43%

Sensitivity live

Price	-10% $584	-5% $570	+0% $556	+5% $542	+10% $528
Rent	-10% $472	-5% $514	+0% $556	+5% $598	+10% $640
Rate	-1.0pp $577	-0.5pp $567	base $556	+0.5pp $546	+1.0pp $535

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: $10,250
• Closing costs: $1,230
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 13 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	$1,619	$1.88	1d	11	0.14mi
523 W Crest Dr Unit 52303 Moses Lake, WA	1.0	1.0	630	$895	$1.42	139d	1	0.47mi
9396 Beacon Rd NE Moses Lake, WA	1.0	1.0	600	$995	$1.66	139d	1	0.64mi
409 W Ridge Rd Moses Lake, WA	2.0	1.0	780	$1,475	$1.89	4d	1	0.69mi
228 W Northshore Dr Moses Lake, WA	2.0	1.0	876	$1,195	$1.36	4d	1	0.84mi
4727 Owens Rd NE #24 Moses Lake, WA	2.0	1.0	900	$1,200	$1.33	139d	1	1.09mi
4727 Owens Rd NE Unit 4 Moses Lake, WA	2.0	1.0	896	$1,300	$1.45	4d	1	1.18mi
4460 Circle Pl NE Moses Lake, WA	2.0	1.0	580	$1,200	$2.07	4d	1	1.25mi
5025 Owens Rd NE Unit A301 Moses Lake, WA	1.0	1.0	596	$1,250	$2.10	139d	1	1.29mi
1032 W Cascade Ave Unit B Moses Lake, WA	1.0	1.0	650	$995	$1.53	4d	1	1.41mi
5025 Owens Rd Unit B-302 Moses Lake, WA	2.0	2.0	1009	$1,400	$1.39	4d	1	1.45mi
5025 Owens Rd Unit B-101 Moses Lake, WA	1.0	1.0	564	$1,250	$2.22	4d	1	1.45mi
615 S Alder St #02 Moses Lake, WA	2.0	1.0	742	$1,200	$1.62	139d	1	1.45mi

Listing history 50 events

1. 2026-09-22
   days on market $41,000 Active
2. 2026-09-20
   days on market $41,000 Active 205 DOM
3. 2026-09-19
   days on market $41,000 Active 204 DOM
4. 2026-09-18
   days on market $41,000 Active 203 DOM
5. 2026-09-17
   days on market $41,000 Active 202 DOM
6. 2026-09-16
   days on market $41,000 Active 201 DOM
7. 2026-09-15
   pricedays on market $41,000 Active 200 DOM
8. 2026-09-14
   days on market $44,900 Active 199 DOM
9. 2026-09-13
   days on market $44,900 Active 198 DOM
10. 2026-09-12
    days on market $44,900 Active 197 DOM
11. 2026-09-11
    days on market $44,900 Active 196 DOM
12. 2026-09-05
    days on market $44,900 Active 190 DOM
13. 2026-09-04
    days on market $44,900 Active 189 DOM
14. 2026-09-03
    days on market $44,900 Active 188 DOM
15. 2026-09-02
    days on market $44,900 Active 187 DOM
16. 2026-08-30
    days on market $44,900 Active 184 DOM
17. 2026-08-29
    days on market $44,900 Active 183 DOM
18. 2026-08-28
    days on market $44,900 Active 182 DOM
19. 2026-08-27
    days on market $44,900 Active 181 DOM
20. 2026-08-26
    days on market $44,900 Active 180 DOM
21. 2026-08-25
    days on market $44,900 Active 179 DOM
22. 2026-08-24
    days on market $44,900 Active 178 DOM
23. 2026-08-23
    days on market $44,900 Active 177 DOM
24. 2026-08-22
    days on market $44,900 Active 176 DOM
25. 2026-08-21
    days on market $44,900 Active 175 DOM
26. 2026-08-20
    days on market $44,900 Active 174 DOM
27. 2026-08-19
    days on market $44,900 Active 173 DOM
28. 2026-08-18
    days on market $44,900 Active 172 DOM
29. 2026-08-17
    days on market $44,900 Active 171 DOM
30. 2026-08-16
    days on market $44,900 Active 170 DOM
31. 2026-08-15
    days on market $44,900 Active 169 DOM
32. 2026-08-15
    days on market $44,900 Active 168 DOM
33. 2026-08-13
    days on market $44,900 Active 167 DOM
34. 2026-08-12
    days on market $44,900 Active 166 DOM
35. 2026-08-11
    days on market $44,900 Active 165 DOM
36. 2026-08-10
    days on market $44,900 Active 164 DOM
37. 2026-08-09
    days on market $44,900 Active 163 DOM
38. 2026-08-08
    days on market $44,900 Active 162 DOM
39. 2026-08-07
    days on market $44,900 Active 161 DOM
40. 2026-08-06
    days on market $44,900 Active 160 DOM
41. 2026-08-05
    days on market $44,900 Active 159 DOM
42. 2026-08-04
    days on market $44,900 Active 158 DOM
43. 2026-08-03
    days on market $44,900 Active 157 DOM
44. 2026-07-31
    days on market $44,900 Active 154 DOM
45. 2026-07-30
    days on market $44,900 Active 153 DOM
46. 2026-07-29
    days on market $44,900 Active 152 DOM
47. 2026-07-27
    days on market $44,900 Active 150 DOM
48. 2026-07-25
    days on market $44,900 Active 148 DOM
49. 2026-07-23
    days on market $44,900 Active 146 DOM
50. 2026-07-22
    days on market $44,900 Active 145 DOM

ⓘ 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: $12,752
• − Mortgage interest: −$2,297
• − Property taxes: −$615
• − Insurance: −$205
• − Repairs & maintenance: −$1,020
• − Management: −$1,020
• − Depreciation: −$1,193
• Taxable income: $6,402
• Est. tax owed @ 24.0%: −$1,536
• After-tax cash flow: $5,137/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 Est. rehab $3,920–$11,760 screening

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 ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

Zoned Schools

Elementary Park Orchard Elementary School Middle Frontier Middle School High Moses Lake High School

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

B Composite livability gradescore 75/100

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 · 99,356 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: 7% of renters

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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%

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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%

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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

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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