421 N Columbus Ave

Goldendale, WA 98620

$100,000B-

3 bd · 2.5 ba · 2,061 sqft · Built 1920 · SingleFamily · Pending · 14 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,518/mo
• Mortgage (P&I): −$524
• Tax + insurance: −$710
• HOA: −$0
• Vac / Maint / Mgmt: −$319
• Net cashflow: $-35/mo
• Annual: $-420/yr
• Cap rate: 11.40%
• Cash-on-cash: 18.23%
• DSCR: 1.81
• 1% rule: 1.52%
• Cash to close: $28,000

Investor read

• This is a 3-bed/2.5-bath single-family listed at $100k.
• At list price, monthly cash flow is $-35 ($-420/yr) — negative.
• To cash-flow at today's rent, offer at most $94k (6.2% below list).
• Meets the 1% rule at list price ($2k rent vs $100k).
• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $94k (6.2% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 67/100 on livability (#295 in WA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F, employment F.
• Goldendale School District (town): math 35% / reading 49% proficiency, ranked #213 of 291 in WA (top 73%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Goldendale Primary School (291 students, 71% FRL); Goldendale Middle School (262 students, 78% FRL); Goldendale High School (299 students, 63% FRL) — zoned schools average 71% FRL vs 51% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: flood insurance adds $460/mo; built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 254 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.
• 4 sale attempts since 11y 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.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wildfire risk — expect insurance premiums to compound above CPI over the hold.
• Cap rate 11.4% vs local median 2.4% in Goldendale — 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.

Questions for listing agent

• 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?
• Built in 1920 — 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.
• 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.