1110 N Clay St #3 · Colfax, WA 99111

$20,000

2 bd · 1.0 ba · 812 sqft · Manufactured · 2 Days on market

Built 1983 784 sqft lot

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Why this score? — see what drove the D+ 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 +15.0/30.0
• ARV discount +7.5/15.0
• Schools +6.5/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Attention investors and ambitious DIYers! This single-wide manufactured home at 1110 North Clay St (Unit 3) in Colfax presents a unique blank canvas. The property is a complete fixer-upper, with demo work already started. Featuring partially gutted interiors, exposed subfloors, and framing ready for your vision. The home includes a covered porch and a detached storage shed. Please note: Land is not included in the sale. The home is currently situated on a small, privately-owned lot shared with only three other units, offering a quieter setting than a large, established mobile home park. Property is strictly being sold AS-IS. Bring your tools and your contractor to bring this space back to l

Key facts

• Covered porch
• Exposed subfloors
• Complete fixer-upper

Tags

• COMPLETE FIXER-UPPER
• PARTIALLY GUTTED INTERIORS
• EXPOSED SUBFLOORS
• DETACHED STORAGE SHED
• COVERED PORCH
• PRIVATELY-OWNED LOT

Property features AI

Finance

• Financial info: Land is leased (manufactured rented lot)

Exterior

• Parking: No garage; Off-street parking
• Utilities: Public water; Electricity connected; Sewer connected; Electric on property
• Home design: Manufactured home (single wide); Single-story; Entry level: One
• Construction: Metal roof; Pillar/post/pier foundation; Manufactured home, make: Jefr 56/14
• Exterior features: Deck; Shed(s); Gravel road access; Located in a mobile home park

Interior

• Kitchen: Dishwasher
• Flooring: Carpet; Laminate; Wood
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating
• Interior features: Vaulted ceilings; Crawl space (no full basement)

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $20k.

Deal economics

• At list price, monthly cash flow is $474 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($860 rent vs $20k).
• Cap rate 38.7% vs local median 2.0% in Colfax — 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 78/100 on livability (#128 in WA, #2,560 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F.
• Colfax School District (town): math 71% / reading 81% proficiency, ranked #12 of 291 in WA (top 4%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 39 active listings in the ZIP; 49 units permitted in Whitman County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $138 of loan paydown is wiped out by about $600 of value loss. Plan a longer hold.
• Whitman County population projected at +57% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $6k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $20,000

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. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
4. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
5. 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.
6. 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.
7. 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: 4.30% ✓
• Cap rate: 38.75%
• Cash-on-cash: 115.92%
• DSCR: 6.16
• GRM: 1.9

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: —
• Equity multiple: 5.83×
• Total profit: $27,033
• Equity at exit: $2,982

10-year hold

• IRR: —
• Equity multiple: 12.19×
• Total profit: $62,673
• Equity at exit: $1,729

Cash invested: $5,600 (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 99111

• Active inventory: 39
• Price-to-rent: 1.9×

Monthly cashflow live

• Estimated rent: $860 medium
• Mortgage (P&I): −$105
• Tax est. 1.5%: −$25 /mo · $300/yr
• Insurance: −$8
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$181
• Net cashflow: $474

Break-even live

Break-even rent $259

Max offer price $20,000

Occupancy floor 40%

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: $5,000
• Closing costs: $600
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-06-19
   days on market $20,000 Active 2 DOM
2. 2026-06-17
   remarks 699-char remark
3. 2026-06-17
   listed $20,000 Active 1 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 8/10 Severe FEMA zone X · 78% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥93°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 7/10 Severe 11 unhealthy d/yr today · 12 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,316
• − Mortgage interest: −$1,120
• − Property taxes: −$300
• − Insurance: −$897
• − Repairs & maintenance: −$825
• − Management: −$825
• − Depreciation: −$582
• Taxable income: $5,766
• Est. tax owed @ 24.0%: −$1,384
• After-tax cash flow: $4,310/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: Colfax School District
• NCES district ID: 5301440
• Math proficiency: 71% ▲ 3.00%
• Reading proficiency: 81% ▼ -1.00%
• Median HH income: $48,738
• Composite: 65.16/100
• National rank: #1062
• State rank: #12 of 291 in WA

Livability — Colfax

• Score: 78/100
• State rank: #128
• US rank: #2560

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Colfax, WA
• Population (ZIP): 4,049

Population outlook (Whitman County) Hauer SSP2

• Today (2025): 57,639 people
• By 2030: 63,440 · +10.1%
• By 2040: 75,870 · +31.6%
• By 2050: 90,294 · +56.7%
• By 2075: 131,756 · +128.6%
• By 2100: 169,239 · +193.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Two or more races 10% Hispanic / Latino 8% Black 1%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Portuguese 5% Slovak 2% Scotch-Irish 2%
• Foreign-born: 2% · Canada, Jamaica
• Languages at home: 96% English-only · Spanish 2%

Political lean MEDSL · Whitman

• 2024 margin: Lean D (+9.0) · D 52.8% · R 43.8% · Other 3.4%
• 2008→2024 swing: +3.5pp toward D · 2008: 5.5pp · 2024: 9.0pp
• All cycles: 2024: D+9.0 2020: D+10.0 2016: D+0.5 2012: R+3.7 2008: D+5.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -173.40%
• Current HPI: 177.359
• 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

• 2026-06-17 Listed $20,000 PACMLS