701 Silver Crown Ave

Northport, WA 99157

$40,000B+

1 bd · 1.0 ba · 672 sqft · Built 1979 · Manufactured · Active · 265 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $791/mo
• Mortgage (P&I): −$210
• Tax + insurance: −$114
• HOA: −$0
• Vac / Maint / Mgmt: −$166
• Net cashflow: $301/mo
• Annual: $3,610/yr
• Cap rate: 17.31%
• Cash-on-cash: 39.35%
• DSCR: 2.75
• 1% rule: 1.98%
• Cash to close: $11,200

Investor read

• This is a 1-bed/1.0-bath manufactured listed at $40k.
• At list price, monthly cash flow is $301 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($791 rent vs $40k).
• It's been on market 265 days — a 12% lower offer ($35k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $35k (12.0% below list) — sets the bar for market timing.
• In year one you build about $2k of equity ($277 loan paydown + $2k appreciation (5.0% local appreciation)).
• Location reads 58/100 on livability (#518 in WA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing B+; Watch: schools C-, crime F, amenities F.
• Northport School District (rural): math 50% / reading 60% proficiency, ranked #121 of 291 in WA (top 42%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Watch-outs: flood insurance adds $66/mo.
• Market conditions: 25 active listings in the ZIP; 341 units permitted in Stevens County in 2024 (72 in 5+ unit buildings).
• Stevens County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (5.0% appreciation + 3.0% rent growth), your $11k cash investment doubles in ~2 years — after that, you're playing with house money.
• Climate carrying-cost: severe flood risk; major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 265 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1979 — 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?
• 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.