105 Mills Ln · Centralia, WA 98531

$93,000

3 bd · 2.0 ba · 925 sqft · Manufactured · 6 Days on market

Built 1988 Good condition Est $85k · 9% over

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.0/10.0
• Livability +4.0/5.0
• Condition / age +3.8/5.0
• ARV discount +3.3/15.0
• Rent growth +3.2/5.0
• Appreciation +0.0/10.0

Listing remarks

Move-in ready home in a convenient Centralia location at the Country Life Estates park, just minutes from town and all of its amenities. This well-kept 3-bed, 1.75-bath home features a 5-year-old TPO roof, newer porches, upgraded PEX plumbing, and ducting replaced only 3 years ago. Bright kitchen with skylight, laminate/vinyl flooring throughout, and all appliances—refrigerator, dishwasher, range/oven, washer, and dryer—are just 1 year old and stay with the home. A 10x12 storage shed (3 years old) provides additional space. Monthly space rent is $656. Space rent does not include utilities. Park approval required. Two hours’ notice needed for showings. Offered at $93,000. I

Key facts

• Bright kitchen
• Newer porches
• 5 year old tpo roof

Tags

• 5 YEAR OLD TPO ROOF
• NEWER PORCHES
• UPGRADED PEX PLUMBING
• DUCTING REPLACED 3 YEARS AGO
• BRIGHT KITCHEN
• SKYLIGHT

Property features AI

Finance

• Other: Property type: Residential - Manufactured Home; Style: Manufactured single wide; Calculated living area: 925 square feet
• Financial info: Accepts Cash and Conventional financing
• HOA & community: Located in Country Life Estates (manufactured home park approved for sale); Land lease: $656

Exterior

• Parking: 2 open/uncovered parking spaces
• Utilities: Electric energy source; Public water; Public sewer; Electric water heater; Power provided by Centralia PUD
• Home design: Manufactured single-wide home; One level; Model: Liberty; Condition: Good; Mobile home remains on site
• Construction: Metal/vinyl construction materials; Metal roof (see remarks)
• Exterior features: Metal/vinyl exterior; Has a view; Patio/porch/deck

Interior

• Kitchen: Dishwasher; Stove/Range; Refrigerator
• Bedrooms: 3 bedrooms
• Flooring: Laminate; Vinyl
• Bathrooms: 1 full bath; 1 three-quarter bath; 1 bathtub; 2 showers
• Heating & cooling: Forced air heating; No central cooling listed
• Interior features: Water heater; Skylights; Bath off primary; Patio/porch/deck
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $93k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $726 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $93k).
• Cap rate 15.7% vs local median 3.0% in Centralia — 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 81/100 on livability (#81 in WA, #1,497 nationally) — a professional / high-income tenant draw. Strengths: commute A+, health & safety A+, cost of living A; Watch: schools C-, crime C-, employment F.
• Centralia School District (town): math 39% / reading 52% proficiency, ranked #187 of 291 in WA (top 64%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 65% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+3.0%/yr); 263 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 265 units permitted in Lewis County in 2024 (44 in 5+ unit buildings).
• This rent runs 33% of the median local income ($63k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $643 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Lewis County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $26k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $93,000

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. 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.
3. 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.
4. 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: 1.86% ✓
• Cap rate: 15.67%
• Cash-on-cash: 33.47%
• DSCR: 2.49
• GRM: 4.5

CMA / ARV

• ARV (on-the-fly): $85,100
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
107 Mills Ln	0.01mi	2/2.0 (-1)	924 (-0%)	15mo	$85,000	$92	82

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 28.7%
• Equity multiple: 2.20×
• Total profit: $31,220
• Equity at exit: $13,867

10-year hold

• IRR: 36.2%
• Equity multiple: 4.34×
• Total profit: $86,865
• Equity at exit: $8,041

Cash invested: $26,040 (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 98531

• Rents YoY: 3.0%
• Active inventory: 263
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $1,733 medium
• Mortgage (P&I): −$488
• Tax est. 1.5%: −$116 /mo · $1,395/yr
• Insurance: −$39
• HOA: −$0
• Vacancy / Maint / Mgmt: −$364
• Net cashflow: $726

Break-even live

Break-even rent $814

Max offer price $93,000

Occupancy floor 53%

Sensitivity live

Price	-10% $791	-5% $759	+0% $726	+5% $694	+10% $662
Rent	-10% $589	-5% $658	+0% $726	+5% $795	+10% $863
Rate	-1.0pp $773	-0.5pp $750	base $726	+0.5pp $702	+1.0pp $678

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: $23,250
• Closing costs: $2,790
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1111 Grand Ave Unit B Centralia, WA	2.0	1.0	1050	$1,495	$1.42	45d	1	1.28mi

Listing history 1 events

1. 2026-05-19
   listed $93,000 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 5/10 Major FEMA zone X · 24% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 8 d/yr ≥89°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 6/10 Major 8 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,796
• − Mortgage interest: −$5,209
• − Property taxes: −$1,395
• − Insurance: −$465
• − Repairs & maintenance: −$1,664
• − Management: −$1,664
• − Depreciation: −$2,705
• Taxable income: $7,694
• Est. tax owed @ 24.0%: −$1,847
• After-tax cash flow: $6,870/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 · 13 photos

Good 75/100 Cosmetic rehab

This move-in ready mobile home in a convenient location is in good condition with recent updates and appliances. It offers a good balance of curb appeal and interior updates.

Value-add opportunities

• Both landscaping — improves curb appeal and rental value
• Both interior paint — fresh paint enhances curb appeal and rental value
• Both landscaping — improves curb appeal and rental value

Renovation cost estimate screening

Value-add ROI direction

• Both landscaping — improves curb appeal and rental value ↑
• Both interior paint — fresh paint enhances curb appeal and rental value ↑
• Both landscaping — improves curb appeal and rental 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: Centralia School District
• NCES district ID: 5301140
• Math proficiency: 39% ▼ -2.00%
• Reading proficiency: 52% ▼ -2.00%
• Median HH income: $38,851
• Composite: 40.17/100
• National rank: #7832
• State rank: #187 of 291 in WA

Livability — Centralia

• Score: 81/100
• State rank: #81
• US rank: #1497

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Lewis County · 27,337 people
• City population: 27,337
• Metro: Centralia, WA
• Population (ZIP): 27,337
• Household income: $63,406
• Rent vs Own: 34.3% rent · 65.7% own
• Severe rent burden: 1000.0

Population outlook (Lewis County) Hauer SSP2

• Today (2025): 75,749 people
• By 2030: 74,647 · -1.5%
• By 2040: 71,310 · -5.9%
• By 2050: 67,748 · -10.6%
• By 2075: 59,829 · -21.0%
• By 2100: 52,293 · -31.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Hispanic / Latino 19% Two or more races 10% Asian 1%
• Hispanic origin (detail): Mexican 15% Puerto Rican 1%
• Common ancestry: Portuguese 3% Slovak 3% Lithuanian 2%
• Foreign-born: 9% · Canada, Vietnam
• Languages at home: 83% English-only · Spanish 16% Tagalog/Filipino 1%

Political lean MEDSL · Lewis

• 2024 margin: Solid R (+33.0) · D 32.0% · R 65.0% · Other 3.0%
• 2008→2024 swing: -13.8pp toward R · 2008: -19.2pp · 2024: -33.0pp
• All cycles: 2024: R+33.0 2020: R+32.8 2016: R+36.2 2012: R+23.5 2008: R+19.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -249.98%
• Current HPI: 378.6936
• Rent YoY: ▲ 3.00%
• Metro: Centralia, 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

1 event — show timeline

• 2026-05-19 Listed $93,000 NWMLS as Distributed by MLS Grid