105 E Patrick Ave #9 · Kittitas, WA 98934

$55,000

2 bd · 1.0 ba · 840 sqft · Manufactured public records · 16 Days on market

Built 1994 780 sqft lot

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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
• Appreciation +6.6/10.0
• Schools +4.3/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Welcome home to this bright and cheerful manufactured home located in a clean, peaceful, and beautifully landscaped community in up-and-coming Kittitas! Inside, you’ll find a spacious kitchen with abundant storage, generous counter space, and a lovely bay window that fills the home with natural light. The inviting living room flows into the rest of the home: a laundry area featuring additional storage cupboards, a guest bedroom, well-lit bathroom, and a spacious primary bedroom complete with an extra-large closet for plenty of storage. Outside offers exceptional functionality and outdoor enjoyment with a covered sitting area, large storage room, and two additional sheds providing plen

Key facts

• Covered sitting area
• Laundry area
• Extra-large closet

Tags

• SPACIOUS KITCHEN
• BAY WINDOW
• LAUNDRY AREA
• EXTRA-LARGE CLOSET
• COVERED SITTING AREA
• LARGE STORAGE ROOM

Property features AI

Finance

• Financial info: Acceptable financing: Cash, Conventional
• HOA & community: Park name: Cook Creek Court; Land lease: $680; Park approved for sale; Pets: see remarks

Exterior

• Parking: Uncovered parking; 2 open parking spaces
• Utilities: Public water
• Home design: Manufactured single-wide home (Fleetwood); One story; Manufactured after 6/15/1976; Residential property subtype: Manufactured Home
• Construction: Wood construction; Composition roof
• Exterior features: Wood exterior; Wood products; Patio/porch/deck

Interior

• Kitchen: Dishwasher; Garbage disposal; Microwave; Refrigerator; Stove/Range
• Bedrooms: 2 bedrooms
• Flooring: Vinyl; Carpet
• Bathrooms: One three-quarter bathroom with shower
• Heating & cooling: Forced air heating; Central air conditioning; Electric energy source
• Interior features: Entry; Kitchen with eating space; Living room; Vaulted ceilings; Patio/porch/deck
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $55k.

Deal economics

• At list price, monthly cash flow is $580 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $55k).
• Recommended offer: $54k (1.5% below list) — sets the bar for market timing.
• Cap rate 21.6% vs local median 2.1% in Kittitas — 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 66/100 on livability (#321 in WA) — a middle-class / working-renter tenant base. Strengths: housing A+, crime A, cost of living A-; Watch: schools C-, health & safety C-, amenities F.
• Kittitas School District (rural): math 36% / reading 58% proficiency, ranked #162 of 291 in WA (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 8 active listings in the ZIP; 433 units permitted in Kittitas County in 2024 (23 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($380 loan paydown + $2k appreciation (3.2% local appreciation)).
• Kittitas County population projected at +30% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (3.2% appreciation + 3.0% rent growth), your $15k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($54k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $122/mo.
• Climate carrying-cost: in FEMA flood zone AO (mandatory federal flood insurance); major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $54,175 (1.5% below list)

Questions for the listing agent

1. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 2.39% ✓
• Cap rate: 21.62%
• Cash-on-cash: 54.73%
• DSCR: 3.44
• GRM: 3.5

CMA / ARV

• ARV (on-the-fly): $377,160
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
971 NO. 81 Rd	0.58mi	2/1.0	924 (+10%)	6mo	$415,000	$449	51

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

3.23% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 50.9%
• Equity multiple: 3.88×
• Total profit: $44,328
• Equity at exit: $25,461

10-year hold

• IRR: 50.3%
• Equity multiple: 7.84×
• Total profit: $105,278
• Equity at exit: $39,816

Cash invested: $15,400 (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 98934

• Home prices YoY: 1.3%
• Active inventory: 8
• Price-to-rent: 3.5×

Monthly cashflow live

• Estimated rent: $1,312 medium
• Mortgage (P&I): −$288
• Tax from tax record: −$23 /mo · $277/yr
• Insurance: −$23
• Flood insurance flood zone: −$122 /mo · $1,468/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$276
• Net cashflow: $580

Break-even live

Break-even rent $578

Max offer price $55,000

Occupancy floor 51%

Sensitivity live

Price	-10% $611	-5% $596	+0% $580	+5% $565	+10% $549
Rent	-10% $476	-5% $528	+0% $580	+5% $632	+10% $684
Rate	-1.0pp $608	-0.5pp $594	base $580	+0.5pp $566	+1.0pp $551

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: $13,750
• Closing costs: $1,650
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-06-21
   days on market $55,000 Active 16 DOM
2. 2026-06-19
   days on market $55,000 Active 14 DOM
3. 2026-06-18
   days on market $55,000 Active 13 DOM
4. 2026-06-17
   days on market $55,000 Active 12 DOM
5. 2026-06-16
   days on market $55,000 Active 11 DOM
6. 2026-06-15
   days on market $55,000 Active 10 DOM
7. 2026-06-14
   days on market $55,000 Active 8 DOM
8. 2026-06-12
   days on market $55,000 Active 7 DOM
9. 2026-06-09
   days on market $55,000 Active 4 DOM
10. 2026-06-08
    days on market $55,000 Active 3 DOM
11. 2026-06-07
    remarks 693-char remark
12. 2026-06-07
    listed $55,000 Active 2 DOM

ⓘ 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: $277 · $23/mo
• Projected year-2 tax: $539 · $45/mo
• Expected delta: +$262/yr (+$22/mo · 94.5%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone AO · 97% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 Heat 3/10 Moderate 7 d/yr ≥93°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 9/10 Extreme 16 unhealthy d/yr today · 17 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,750
• − Mortgage interest: −$3,081
• − Property taxes: −$277
• − Insurance: −$1,742
• − Repairs & maintenance: −$1,260
• − Management: −$1,260
• − Depreciation: −$1,600
• Taxable income: $6,529
• Est. tax owed @ 24.0%: −$1,567
• After-tax cash flow: $5,395/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: Kittitas School District
• NCES district ID: 5304050
• Math proficiency: 36% ▼ -5.00%
• Reading proficiency: 58% ▲ 5.00%
• Median HH income: $55,782
• Composite: 42.94/100
• National rank: #6693
• State rank: #162 of 291 in WA

Livability — Kittitas

• Score: 66/100
• State rank: #321
• US rank: #11813

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Kittitas, WA
• City population: 803
• Population (ZIP): 803

Population outlook (Kittitas County) Hauer SSP2

• Today (2025): 48,605 people
• By 2030: 51,628 · +6.2%
• By 2040: 57,361 · +18.0%
• By 2050: 63,241 · +30.1%
• By 2075: 79,310 · +63.2%
• By 2100: 94,769 · +95.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (66%)
• Race & ethnicity: White 66% Hispanic / Latino 26% Two or more races 10% Black 5% Asian 1%
• Hispanic origin (detail): Mexican 21% Puerto Rican 4%
• Common ancestry: Italian 13% Scottish 5% Lithuanian 1%
• Foreign-born: 8% · Canada, China
• Languages at home: 87% English-only · Spanish 12% Chinese 1%

Political lean MEDSL · Kittitas

• 2024 margin: R (+14.6) · D 41.1% · R 55.7% · Other 3.2%
• 2008→2024 swing: -6.5pp toward R · 2008: -8.1pp · 2024: -14.6pp
• All cycles: 2024: R+14.6 2020: R+10.2 2016: R+14.5 2012: R+12.6 2008: R+8.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 3.23%
• Current HPI: 245.8193
• Rent YoY: —
• Metro: —
• 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

• 2026-06-05 Listed $55,000 NWMLS as Distributed by MLS Grid

Property tax history

+4.5%/yr

Latest (2026): $277 · +3.6% YoY. Source: county tax records.