526 Monterey Dr · East Wenatchee, WA 98802

$199,999

3 bd · 2.0 ba · 1,232 sqft · Manufactured public records · 147 Days on market

Built 1997 $162/sqft · 41% below area Est $321k · 38% under

---

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
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.8/10.0
• Schools +4.7/10.0
• Livability +4.2/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Location and well kept 55+ Community in a gated, secure neighborhood. This home features 2 Bedrooms and 2 bath with an open floor plan, vaulted ceilings, lots of lighting, new heating/cooling system, new vinyl flooring, and new built in microwave. Also has a 2 car garage that is insulated with sprinkler system with new garage door opener. Lots of get togethers in the Clubhouse that boasts a pool, hot tub, exercise room, pool table, large TV and kitchen area and putting green. A must see!

Key facts

• Gated neighborhood
• Open floor plan
• Vaulted ceilings

Tags

• GATED NEIGHBORHOOD
• OPEN FLOOR PLAN
• VAULTED CEILINGS
• NEW HEATING COOLING SYSTEM
• NEW VINYL FLOORING
• NEW BUILT IN MICROWAVE

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $200k.

Deal economics

• At list price, monthly cash flow is $753 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $200k).
• Recommended offer: $176k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.8% vs local median 2.9% in East Wenatchee — 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 83/100 on livability (#54 in WA, #972 nationally) — a professional / high-income tenant draw. Strengths: commute A+, housing A+, health & safety A+.
• Eastmont School District (suburban): math 45% / reading 60% proficiency, ranked #118 of 291 in WA (top 40%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+1.5%/yr); 324 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 263 units permitted in Douglas County in 2024 (0 in 5+ unit buildings).
• This rent runs 35% of the median local income ($88k/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 $6k of value loss. Plan a longer hold.
• Douglas County population projected at +22% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 1.5% rent growth), your $56k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 147 days — a 12% lower offer ($176k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 19y ago; this cycle's ask has dropped $45k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

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

Recommended offer $175,999 (12.0% below list)

Questions for the listing agent

1. It's been on market 147 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 1.28% ✓
• Cap rate: 10.81%
• Cash-on-cash: 16.14%
• DSCR: 1.72
• GRM: 6.5

CMA / ARV

• ARV (median comp): $321,160
• List price: $199,999
• Delta: -37.73%
• Verdict: UNDERPRICED
• Comps: 6 within 1.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
565 Sunday Dr	0.10mi	2/2.0 (-1)	1,144 (-7%)	3mo	$214,000	$187	76
521 Nahalee	0.19mi	2/2.0 (-1)	1,144 (-7%)	11mo	$215,000	$188	65
556 Canyon Dr	0.15mi	2/2.0 (-1)	1,144 (-7%)	14mo	$227,000	$198	64
561 Morning View Ave	0.12mi	2/2.0 (-1)	1,404 (+14%)	3mo	$366,200	$261	64
2524 NE J St	0.58mi	3/2.0	1,323 (+7%)	1mo	$555,000	$420	60
517 Country Ln	0.15mi	2/2.0 (-1)	1,080 (-12%)	13mo	$220,000	$204	57
527 Monterey Dr #4	0.17mi	2/2.0 (-1)	1,144 (-7%)	23mo	$175,000	$153	56
2449 NE 4th St	0.39mi	2/2.0 (-1)	1,120 (-9%)	10mo	$375,000	$335	54
595 Morning View Cir	0.11mi	3/2.0	1,404 (+14%)	22mo	$350,000	$249	53
2201 NE 3rd St NE	0.29mi	2/2.0 (-1)	1,152 (-6%)	22mo	$299,000	$260	53
2487 4th St NE	0.44mi	3/2.0	1,404 (+14%)	18mo	$405,000	$288	41

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 · 1.47% rent growth · sell at horizon

5-year hold

• IRR: 5.5%
• Equity multiple: 1.21×
• Total profit: $11,658
• Equity at exit: $29,821

10-year hold

• IRR: 13.5%
• Equity multiple: 2.01×
• Total profit: $56,369
• Equity at exit: $17,292

Cash invested: $56,000 (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 98802

• Rents YoY: 1.5%
• Active inventory: 324
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $2,557 high
• Mortgage (P&I): −$1,049
• Tax from tax record: −$135 /mo · $1,616/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$537
• Net cashflow: $753

Break-even live

Break-even rent $1,604

Max offer price $199,999

Occupancy floor 66%

Sensitivity live

Price	-10% $866	-5% $810	+0% $753	+5% $697	+10% $640
Rent	-10% $551	-5% $652	+0% $753	+5% $854	+10% $955
Rate	-1.0pp $854	-0.5pp $804	base $753	+0.5pp $701	+1.0pp $649

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2525 NE Noble Loop East Wenatchee, WA	3.0	2.0	1350	$2,795	$2.07	44d	1	0.53mi
1620 5th St NE Unit 1622 East Wenatchee, WA	2.0	1.0	1166	$1,900	$1.63	44d	1	0.57mi
2272 S Nevada Ave East Wenatchee, WA	2.0–3.0	2.0	1175	$2,300	$1.96	44d	3	0.63mi
1763 Grant Rd East Wenatchee, WA	3.0	2.5	1500	$2,795	$1.86	44d	1	0.71mi
460 N James Ave Unit 456 James East Wenatchee, WA	2.0	2.0	850	$2,495	$2.94	44d	1	0.97mi
286 N Iowa Ave East Wenatchee, WA	3.0	1.0	1264	$2,600	$2.06	44d	1	1.10mi
667 4th St NE Apt I201 East Wenatchee, WA	2.0	1.0	884	$1,650	$1.87	44d	1	1.41mi

Listing history 30 events

1. 2026-06-19
   days on market $199,999 Active 147 DOM
2. 2026-06-18
   days on market $199,999 Active 146 DOM
3. 2026-06-17
   days on market $199,999 Active 145 DOM
4. 2026-06-16
   days on market $199,999 Active 144 DOM
5. 2026-06-15
   days on market $199,999 Active 143 DOM
6. 2026-06-14
   days on market $199,999 Active 141 DOM
7. 2026-06-13
   days on market $199,999 Active 140 DOM
8. 2026-06-10
   days on market $199,999 Active 138 DOM
9. 2026-06-09
   days on market $199,999 Active 137 DOM
10. 2026-06-08
    days on market $199,999 Active 136 DOM
11. 2026-06-07
    days on market $199,999 Active 135 DOM
12. 2026-06-05
    days on market $199,999 Active 132 DOM
13. 2026-06-03
    price $199,999 Active 130 DOM
14. 2026-06-02
    days on market $214,999 Active 130 DOM
15. 2026-06-01
    days on market $214,999 Active 129 DOM
16. 2026-05-31
    days on market $214,999 Active 128 DOM
17. 2026-05-30
    days on market $214,999 Active 127 DOM
18. 2026-05-11
    price $219,999
19. 2026-04-25
    price $225,999
20. 2026-04-05
    price $235,999
21. 2026-01-23
    listed $244,995 Active
22. 2022-07-25
    soldstatus $237,000 Closed
23. 2022-05-13
    status Pending
24. 2022-04-19
    listed $239,900 Active
25. 2016-05-13
    soldstatus $125,000 Sold
26. 2016-04-20
    status Pending
27. 2015-11-16
    price $129,999
28. 2015-10-05
    listed $135,000 Active
29. 2007-07-03
    soldstatus $153,000
30. 2007-05-11
    listed $159,900

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast WA · Resets to sale price

• Current annual tax: $1,616 · $135/mo
• Projected year-2 tax: $1,960 · $163/mo
• Expected delta: +$344/yr (+$29/mo · 21.3%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 4/10 Moderate 7 d/yr ≥96°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 21 unhealthy d/yr today · 22 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,685
• − Mortgage interest: −$11,203
• − Property taxes: −$1,616
• − Insurance: −$1,000
• − Repairs & maintenance: −$2,455
• − Management: −$2,455
• − Depreciation: −$5,818
• Taxable income: $6,138
• Est. tax owed @ 24.0%: −$1,473
• After-tax cash flow: $7,566/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.

Schools (NCES district)

• District: Eastmont School District
• NCES district ID: 5302310
• Math proficiency: 45% ▬ 0.00%
• Reading proficiency: 60% ▲ 1.00%
• Median HH income: $56,015
• Composite: 47.31/100
• National rank: #5047
• State rank: #118 of 291 in WA

Livability — East Wenatchee

• Score: 83/100
• State rank: #54
• US rank: #972

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Douglas County · 33,539 people
• City population: 33,539
• Metro: Wenatchee, WA
• Population (ZIP): 33,539
• Household income: $87,744
• Rent vs Own: 30.3% rent · 69.7% own
• Severe rent burden: 741.0

Population outlook (Douglas County) Hauer SSP2

• Today (2025): 45,264 people
• By 2030: 47,398 · +4.7%
• By 2040: 51,407 · +13.6%
• By 2050: 55,020 · +21.6%
• By 2075: 63,862 · +41.1%
• By 2100: 69,870 · +54.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (63%)
• Race & ethnicity: White 63% Hispanic / Latino 30% Two or more races 10% Asian 1%
• Hispanic origin (detail): Mexican 29%
• Common ancestry: Lithuanian 3% Portuguese 3% Slovak 2%
• Foreign-born: 14% · Canada
• Languages at home: 76% English-only · Spanish 23% Other Indo-European 1%

Political lean MEDSL · Douglas

• 2024 margin: Strong R (+27.0) · D 35.2% · R 62.1% · Other 2.7%
• 2008→2024 swing: -5.6pp toward R · 2008: -21.4pp · 2024: -27.0pp
• All cycles: 2024: R+27.0 2020: R+24.1 2016: R+31.5 2012: R+28.9 2008: R+21.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -570.14%
• Current HPI: 305.0094
• Rent YoY: ▲ 1.47%
• Metro: Wenatchee, 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

+37.6% since first listed

13 events — show timeline

• 2026-05-11 Price Changed $219,999 NWMLS as Distributed by MLS Grid
• 2026-04-25 Price Changed $225,999 NWMLS as Distributed by MLS Grid
• 2026-04-05 Price Changed $235,999 NWMLS as Distributed by MLS Grid
• 2026-01-23 Listed $244,995 NWMLS as Distributed by MLS Grid
• 2022-07-25 Sold (MLS) $237,000 NWMLS as Distributed by MLS Grid
• 2022-05-13 Pending — NWMLS as Distributed by MLS Grid
• 2022-04-19 Listed $239,900 NWMLS as Distributed by MLS Grid
• 2016-05-13 Sold (MLS) $125,000 NWMLS as Distributed by MLS Grid
• 2016-04-20 Pending — NWMLS as Distributed by MLS Grid
• 2015-11-16 Price Changed $129,999 NWMLS as Distributed by MLS Grid
• 2015-10-05 Listed $135,000 NWMLS as Distributed by MLS Grid
• 2007-07-03 Sold (MLS) $153,000 NWMLS as Distributed by MLS Grid
• 2007-05-11 Listed $159,900 NWMLS as Distributed by MLS Grid

Property tax history

+5.5%/yr

Latest (2026): $1,616 · +3.4% YoY. Source: county tax records.