18007 Entiat River Rd

Entiat, WA 98822

$269,500D

2 bd · 1.0 ba · 1,080 sqft · Built 1993 · Other · Active · 5 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,208/mo
• Mortgage (P&I): −$1,413
• Tax + insurance: −$291
• HOA: −$0
• Vac / Maint / Mgmt: −$464
• Net cashflow: $39/mo
• Annual: $473/yr
• Cap rate: 6.47%
• Cash-on-cash: 0.63%
• DSCR: 1.03
• 1% rule: 0.82%
• Cash to close: $75,460

Investor read

• This is a 2-bed/1.0-bath other listed at $270k.
• At list price, monthly cash flow is $39 ($473/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $221k (18.1% below list).
• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $221k (18.1% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Location reads 65/100 on livability (#350 in WA) — a middle-class / working-renter tenant base. Strengths: housing A+, employment A-; Watch: health & safety C-, crime D-, amenities F.
• Entiat School District (rural): math 40% / reading 60% proficiency, ranked #148 of 291 in WA (top 51%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Paul Rumburg Elementary (196 students, 74% FRL); Entiat Middle And High School (141 students, 71% FRL) — zoned schools average 72% FRL vs 51% district-wide (21 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 53 active listings in the ZIP; 762 units permitted in Chelan County in 2024 (377 in 5+ unit buildings).
• Chelan County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• Climate carrying-cost: moderate flood risk; severe wildfire risk — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.5% vs local median 1.4% in Entiat — 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

• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Crime grade is D 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?
• 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?
• 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.