2421 Leisure Ln · Centralia, WA 98531

$75,000

3 bd · 1.0 ba · 924 sqft · Other public records · 5 Days on market

Built 1982

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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
• ARV discount +7.5/15.0
• Schools +4.0/10.0
• Livability +4.0/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Fully furnished and affordable living in this 55+ park. Located in a quiet, well-maintained park, this charming 3-bedroom home offers comfort, convenience, and a beautifully landscaped setting. Enjoy the outdoor space with a gazebo, patio area, and a fenced dog run with direct access from the home. Inside, you'll find a spacious layout with numerous furnishings and appliances included, making the transition easy. The home also features an exercise room, a walk-in shower with grab bars, and plenty of practical extras. Lawn and garden tools, along with a mower, are included. Well cared for and move-in ready, this home is a wonderful opportunity for those seeking low-maintenance living in a pe

Key facts

• Gazebo
• Exercise room
• Patio area

Tags

• OUTDOOR SPACE
• GAZEBO
• PATIO AREA
• FENCED DOG RUN
• EXERCISE ROOM
• WALK-IN SHOWER

Property features AI

Finance

• Other: Manufactured home park approved for sale
• Financial info: Cash purchase only
• HOA & community: Land lease: $380/month; Senior community

Exterior

• Parking: Carport
• Utilities: Electric energy source; City of Centralia power; Centralia water; Centralia sewer; Cable connected (Xfinity); Internet connected (Xfinity)
• Home design: Manufactured single-wide home; One level; Mobile home remains on property; Residential property in a senior community (Nylandia)
• Construction: Metal/vinyl construction materials; Composition roof
• Exterior features: Metal/vinyl exterior; Patio/porch/deck

Interior

• Kitchen: Dishwasher; Refrigerator; Stove/Range
• Bedrooms: 3 bedrooms
• Flooring: Vinyl; Carpet
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Heat pump for heating and cooling
• Interior features: Water heater; Ceiling fan(s); Double pane windows; Patio/porch/deck
• Laundry & utility: Washer; Dryer; Water heater located in bedroom closet

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath other listed at $75k.

Deal economics

• At list price, monthly cash flow is $704 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $75k).
• Cap rate 17.6% 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: 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.
• Zoned schools: Fords Prairie Elementary (448 students, 83% FRL); Centralia Middle School (549 students, 80% FRL); Centralia High School (986 students, 70% FRL).
• Market conditions: Rents rising (+3.0%/yr); 263 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); 265 units permitted in Lewis County in 2024 (44 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $519 of loan paydown is wiped out by about $2k 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 $21k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $75,000

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: 2.06% ✓
• Cap rate: 17.56%
• Cash-on-cash: 40.24%
• DSCR: 2.79
• GRM: 4.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 36.6%
• Equity multiple: 2.56×
• Total profit: $32,717
• Equity at exit: $11,183

10-year hold

• IRR: 43.3%
• Equity multiple: 5.11×
• Total profit: $86,331
• Equity at exit: $6,485

Cash invested: $21,000 (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 98531

• Rents YoY: 3.0%
• Active inventory: 263
• Price-to-rent: 4.0×

Monthly cashflow live

• Estimated rent: $1,547 medium
• Mortgage (P&I): −$393
• Tax est. 1.5%: −$94 /mo · $1,125/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$325
• Net cashflow: $704

Break-even live

Break-even rent $656

Max offer price $75,000

Occupancy floor 50%

Sensitivity live

Price	-10% $756	-5% $730	+0% $704	+5% $678	+10% $652
Rent	-10% $582	-5% $643	+0% $704	+5% $765	+10% $826
Rate	-1.0pp $742	-0.5pp $723	base $704	+0.5pp $685	+1.0pp $665

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1014 N Scheuber Rd Centralia, WA	2.0	1.0	890	$1,395	$1.57	15d	1	0.66mi
2227 Harrison Ave Unit 21 Centralia, WA	2.0	1.0	714	$1,395	$1.95	23d	1	0.92mi
401 N Ash St Centralia, WA	2.0	1.0	715	$1,625	$2.27	15d	2	1.28mi

Listing history 5 events

1. 2026-06-09
   status $75,000 Pending 5 DOM
2. 2026-06-08
   days on market $75,000 Active 5 DOM
3. 2026-06-07
   days on market $75,000 Active 4 DOM
4. 2026-06-07
   remarks 699-char remark
5. 2026-06-07
   listed $75,000 Active 3 DOM

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥90°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: $18,569
• − Mortgage interest: −$4,201
• − Property taxes: −$1,125
• − Insurance: −$375
• − Repairs & maintenance: −$1,485
• − Management: −$1,485
• − Depreciation: −$2,182
• Taxable income: $7,715
• Est. tax owed @ 24.0%: −$1,852
• After-tax cash flow: $6,598/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: 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

• Census place: Centralia, WA
• 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

• 2026-06-03 Listed $75,000 NWMLS as Distributed by MLS Grid

Property tax history

+10.8%/yr

Latest (2015): $136 · +3.6% YoY. Source: county tax records.