2480 Basin St SE #44 · Ephrata, WA 98823

$179,000

3 bd · 2.0 ba · 1,512 sqft · SingleFamily · 38 Days on market

Built 2025 Excellent condition $118/sqft · 31% below area Est $259k · 31% under

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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 +26.2/30.0
• ARV discount +15.0/15.0
• DSCR +8.9/10.0
• 1% rule +7.0/10.0
• Schools +5.2/10.0
• Condition / age +4.8/5.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to your bright and airy 1,512 sq ft oasis! This 2025 brand new Marlette home offers a functional split-bedroom floor plan, providing maximum privacy, with the main suit on one side and two generous guest bedrooms on the other. The large living room opens up to a modern kitchen with ample cabinet space, perfect for entertaining. Situated in a desirable mobile home park, you will enjoy a quiet setting while still being close to local amenities. Enjoy the peace of mind of a new build with the convenience of a park community living.

Key facts

• 44 parking spots
• Built 2025
• Listed 37 days

Property features AI

Finance

• Financial info: Acceptable financing: Cash, Conventional, FHA
• HOA & community: Located in Basin Estates park (park approved for sale); Land lease: $474/month

Exterior

• Utilities: Public water
• Home design: Manufactured double-wide home; One level; Manufactured house structure type; Model: 55TMP2856BH25; Make: CMH Manufacturing West, Inc.; Mobile home remains
• Construction: Wood construction; Composition roof
• Exterior features: Wood exterior products; Tie down foundation

Interior

• Kitchen: Dishwasher; Garbage disposal; Refrigerator; Stove/Range
• Bedrooms: 3 bedrooms
• Flooring: Laminate flooring
• Bathrooms: 1 full bath; 1 three-quarter bath
• Heating & cooling: Forced air heating; Forced air cooling; Electric energy source
• Interior features: Double pane windows; Bath off primary

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $179k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $457 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $179k).
• Recommended offer: $174k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.4% vs local median 3.4% in Ephrata — 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 80/100 on livability (#83 in WA, #1,613 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: amenities F.
• Ephrata School District (town): math 56% / reading 62% proficiency, ranked #72 of 291 in WA (top 25%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 232 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 559 units permitted in Grant County in 2024 (35 in 5+ unit buildings).
• This rent runs 35% of the median local income ($73k/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 $1k of loan paydown is wiped out by about $5k 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 + 3.0% rent growth), your $50k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($174k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

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

Recommended offer $173,630 (3.0% below list)

Questions for the listing agent

1. It's been on market 38 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 1.20% ✓
• Cap rate: 9.36%
• Cash-on-cash: 10.94%
• DSCR: 1.49
• GRM: 7.0

CMA / ARV

• ARV (median comp): $258,722
• List price: $179,000
• Delta: -30.81%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2385 Hunter St	0.37mi	3/2.0	1,495 (-1%)	6mo	$413,000	$276	76
34 Grant Dr	0.16mi	3/2.0	1,640 (+8%)	7mo	$385,000	$235	73
2398 Hunters St	0.40mi	3/2.0	1,497 (-1%)	9mo	$405,000	$271	72
2391 Hunter St	0.37mi	3/2.0	1,461 (-3%)	7mo	$387,500	$265	72
2371 Pacific St SE	0.34mi	3/2.0	1,497 (-1%)	15mo	$397,000	$265	70
2376 Hunter St	0.40mi	3/2.0	1,499 (-1%)	12mo	$425,000	$284	70
19 Royal Cir	0.15mi	3/2.0	1,720 (+14%)	2mo	$450,000	$262	68
94 Sunwest Dr	0.32mi	3/2.0	1,497 (-1%)	20mo	$420,000	$281	67
2396 Pacific St	0.35mi	3/2.0	1,367 (-10%)	6mo	$339,000	$248	63
40 Grant Dr	0.18mi	3/2.0	1,708 (+13%)	23mo	$443,000	$259	51

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: 0.1%
• Equity multiple: 1.00×
• Total profit: $135
• Equity at exit: $26,689

10-year hold

• IRR: 9.7%
• Equity multiple: 1.75×
• Total profit: $37,730
• Equity at exit: $15,477

Cash invested: $50,120 (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 98823

• Active inventory: 232
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $2,144 medium
• Mortgage (P&I): −$939
• Tax est. 1.5%: −$224 /mo · $2,685/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$450
• Net cashflow: $457

Break-even live

Break-even rent $1,566

Max offer price $179,000

Occupancy floor 74%

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: $44,750
• Closing costs: $5,370
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
45 Grant Dr Ephrata, WA	3.0	2.0	1217	$1,925	$1.58	43d	1	0.24mi
2393 Pacific St Ephrata, WA	3.0	2.0	1497	$2,500	$1.67	43d	1	0.34mi

Listing history 19 events

1. 2026-06-19
   days on market $179,000 Active 38 DOM
2. 2026-06-18
   days on market $179,000 Active 37 DOM
3. 2026-06-17
   days on market $179,000 Active 36 DOM
4. 2026-06-16
   days on market $179,000 Active 35 DOM
5. 2026-06-15
   days on market $179,000 Active 34 DOM
6. 2026-06-14
   days on market $179,000 Active 32 DOM
7. 2026-06-13
   days on market $179,000 Active 31 DOM
8. 2026-06-10
   days on market $179,000 Active 29 DOM
9. 2026-06-09
   days on market $179,000 Active 28 DOM
10. 2026-06-08
    days on market $179,000 Active 27 DOM
11. 2026-06-07
    days on market $179,000 Active 26 DOM
12. 2026-06-05
    days on market $179,000 Active 23 DOM
13. 2026-06-03
    days on market $179,000 Active 22 DOM
14. 2026-06-02
    days on market $179,000 Active 21 DOM
15. 2026-06-01
    days on market $179,000 Active 20 DOM
16. 2026-05-31
    days on market $179,000 Active 19 DOM
17. 2026-05-30
    days on market $179,000 Active 18 DOM
18. 2026-04-10
    listed $179,000 Active
19. 2025-12-06
    listed $175,000 Active 198-char remark

ⓘ 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 5/10 Major
• 🌡 Heat 4/10 Moderate 7 d/yr ≥97°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 9/10 Extreme 18 unhealthy d/yr today · 18 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,732
• − Mortgage interest: −$10,027
• − Property taxes: −$2,685
• − Insurance: −$895
• − Repairs & maintenance: −$2,059
• − Management: −$2,059
• − Depreciation: −$5,207
• Taxable income: $2,801
• Est. tax owed @ 24.0%: −$672
• After-tax cash flow: $4,812/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

Excellent 95/100 None rehab

This 2025 Marlette home is in excellent condition with a modern kitchen and bathrooms, and a well-maintained exterior. It's move-in ready and offers a great value for both resale and rental.

Value-add opportunities

• Both Landscaping — Enhances curb appeal and adds value
• Both Painting — Fresh paint can make a home more appealing
• Both Window treatments — Modern blinds improve aesthetics and energy efficiency

Renovation cost estimate screening

Value-add ROI direction

• Both Landscaping — Enhances curb appeal and adds value ↑
• Both Painting — Fresh paint can make a home more appealing ↑
• Both Window treatments — Modern blinds improve aesthetics and energy efficiency ↑

ⓘ 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: Ephrata School District
• NCES district ID: 5302610
• Math proficiency: 56% ▼ -1.00%
• Reading proficiency: 62% ▲ 1.00%
• Median HH income: $49,652
• Composite: 51.86/100
• National rank: #3574
• State rank: #72 of 291 in WA

Livability — Ephrata

• Score: 80/100
• State rank: #83
• US rank: #1613

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ephrata, WA
• County: Grant County · 61,643 people
• City population: 12,188
• Metro: Moses Lake, WA
• Population (ZIP): 12,188
• Household income: $73,074
• Rent vs Own: 32.7% rent · 67.3% own
• Severe rent burden: 182.0

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: Majority White (64%)
• Race & ethnicity: White 64% Hispanic / Latino 30% Two or more races 13%
• Hispanic origin (detail): Mexican 29%
• Common ancestry: Italian 4% Scottish 3% Portuguese 3%
• Foreign-born: 7% · Canada
• Languages at home: 77% English-only · Spanish 23%

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: ▼ -356.36%
• Current HPI: 219.8763
• Rent YoY: —
• 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

1 event — show timeline

• 2026-04-10 Listed $179,000 NWMLS as Distributed by MLS Grid