107 E 4th Ave

Metaline Falls, WA 99153

$89,500B-

2 bd · 2.0 ba · 1,160 sqft · Built 1974 · Manufactured · Pending · 132 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $940/mo
• Mortgage (P&I): −$469
• Tax + insurance: −$85
• HOA: −$0
• Vac / Maint / Mgmt: −$197
• Net cashflow: $188/mo
• Annual: $2,257/yr
• Cap rate: 8.81%
• Cash-on-cash: 9.01%
• DSCR: 1.40
• 1% rule: 1.05%
• Cash to close: $25,060

Investor read

• This is a 2-bed/2.0-bath manufactured listed at $90k.
• At list price, monthly cash flow is $188 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($940 rent vs $90k).
• It's been on market 132 days — a 12% lower offer ($79k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $79k (12.0% below list) — sets the bar for market timing.
• In year one you build about $3k of equity ($619 loan paydown + $2k appreciation (2.2% local appreciation)).
• Location reads 55/100 on livability (#545 in WA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing B; Watch: schools C-, crime F, amenities F.
• Selkirk School District (rural): math 55% / reading 70% proficiency, ranked #51 of 291 in WA (top 18%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 13 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 62 units permitted in Pend Oreille County in 2024 (0 in 5+ unit buildings).
• Pend Oreille County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 2 sale attempts; this cycle's ask has dropped $8k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $76k; 18% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (2.2% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~5 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 132 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.