653 E 9th St · Republic, WA 99166

$120,000

2 bd · 1.0 ba · 1,140 sqft · SingleFamily · 304 Days on market

0.30 ac lot $105/sqft · 40% below area Est $199k · 40% under

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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 +21.0/30.0
• ARV discount +15.0/15.0
• DSCR +6.7/10.0
• Appreciation +6.7/10.0
• 1% rule +4.5/10.0
• Schools +4.0/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Attention DIY enthusiasts and investors! Frame built fixer-upper on a large corner lot in town with easy year around access. Located on 5 city lots, you can put your skills to work on remodeling this 2-bedroom home (remodeling has been done on the bathroom/utility room & 1 bedroom) or start from scratch and build your new home with plenty of room for a shop/garage.

Key facts

• 5 city lots
• Large corner lot
• 0.3 acre lot

Tags

• LARGE CORNER LOT
• EASY YEAR AROUND ACCESS
• 5 CITY LOTS
• REMODELING DONE ON BATHROOM
• REMODELING DONE ON BEDROOM

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $168 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $114k (5.3% below list).
• Recommended offer: $106k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 73/100 on livability (#189 in WA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, crime A; Watch: amenities F, commute F, employment F.
• Republic School District (rural): math 40% / reading 50% proficiency, ranked #193 of 291 in WA (top 66%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 74 active listings in the ZIP; 25 units permitted in Ferry County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($830 loan paydown + $4k appreciation (3.5% local appreciation)).
• Ferry County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.5% appreciation + 3.0% rent growth), your $34k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 304 days — a 12% lower offer ($106k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 5y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $102k; 18% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

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

Recommended offer $105,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 304 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: 0.95% ✗
• Cap rate: 7.98%
• Cash-on-cash: 6.01%
• DSCR: 1.27
• GRM: 8.8

CMA / ARV

• ARV (median comp): $198,540
• List price: $120,000
• Delta: -39.56%
• Verdict: UNDERPRICED
• Comps: 17 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1094 Adams St S	0.21mi	3/1.0 (+1)	1,092 (-4%)	12mo	$179,900	$165	68
206 E Delaware Ave	0.38mi	3/1.0 (+1)	1,190 (+4%)	19mo	$209,900	$176	54
1087 S Portland St	0.28mi	2/1.0	981 (-14%)	19mo	$115,000	$117	48
221 N Portland St	0.45mi	1/1.0 (-1)	1,013 (-11%)	22mo	$64,000	$63	38

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

Projected returns pro-forma

3.45% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 14.2%
• Equity multiple: 1.83×
• Total profit: $28,000
• Equity at exit: $57,003

10-year hold

• IRR: 15.7%
• Equity multiple: 3.41×
• Total profit: $81,123
• Equity at exit: $90,295

Cash invested: $33,600 (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 99166

• Home prices YoY: 2.1%
• Active inventory: 74
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $1,136 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$50 /mo · $601/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$239
• Net cashflow: $168

Break-even live

Break-even rent $923

Max offer price $120,000

Occupancy floor 80%

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-18
   days on market $120,000 Active 304 DOM
2. 2026-06-17
   days on market $120,000 Active 303 DOM
3. 2026-06-16
   days on market $120,000 Active 302 DOM
4. 2026-06-15
   days on market $120,000 Active 301 DOM
5. 2026-06-15
   days on market $120,000 Active 300 DOM
6. 2026-06-13
   days on market $120,000 Active 299 DOM
7. 2026-06-12
   days on market $120,000 Active 298 DOM
8. 2026-06-09
   days on market $120,000 Active 295 DOM
9. 2026-06-08
   days on market $120,000 Active 294 DOM
10. 2026-06-08
    days on market $120,000 Active 293 DOM
11. 2026-06-07
    days on market $120,000 Active 292 DOM
12. 2026-06-03
    days on market $120,000 Active 289 DOM
13. 2026-06-02
    days on market $120,000 Active 288 DOM
14. 2026-06-01
    days on market $120,000 Active 287 DOM
15. 2026-05-31
    days on market $120,000 Active 286 DOM
16. 2025-08-18
    listed $120,000 Active 373-char remark

    Show marketing remark (373 chars)

    Attention DIY enthusiasts and investors! Frame built fixer-upper on a large corner lot in town with easy year around access. Located on 5 city lots, you can put your skills to work on remodeling this 2-bedroom home (remodeling has been done on the bathroom/utility room & 1 bedroom) or start from scratch and build your new home with plenty of room for a shop/garage.

17. 2025-08-18
    listed $120,000 Active

    Show marketing remark (373 chars)

    Attention DIY enthusiasts and investors! Frame built fixer-upper on a large corner lot in town with easy year around access. Located on 5 city lots, you can put your skills to work on remodeling this 2-bedroom home (remodeling has been done on the bathroom/utility room & 1 bedroom) or start from scratch and build your new home with plenty of room for a shop/garage.

18. 2021-09-09
    soldstatus $102,000 Closed

    Show marketing remark (359 chars)

    Nice location for this frame built fixer on a large corner lot. This property has great potential! The home already has a remodeled bathroom/utility room and one of the bedrooms has been done. Or, the 5 city lots provide plenty of room for a new home and shop or possibly two homes. Easy access and close to the school and just a short distance from downtown.

19. 2021-09-09
    soldstatus $102,000 359-char remark

    Show marketing remark (359 chars)

    Nice location for this frame built fixer on a large corner lot. This property has great potential! The home already has a remodeled bathroom/utility room and one of the bedrooms has been done. Or, the 5 city lots provide plenty of room for a new home and shop or possibly two homes. Easy access and close to the school and just a short distance from downtown.

20. 2021-09-08
    soldstatus $102,000
21. 2021-08-14
    status Pending
22. 2021-05-20
    listed $110,000 359-char remark

    Show marketing remark (359 chars)

    Nice location for this frame built fixer on a large corner lot. This property has great potential! The home already has a remodeled bathroom/utility room and one of the bedrooms has been done. Or, the 5 city lots provide plenty of room for a new home and shop or possibly two homes. Easy access and close to the school and just a short distance from downtown.

23. 2021-05-18
    listed $110,000 Active

ⓘ 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: $601 · $50/mo
• Projected year-2 tax: $1,176 · $98/mo
• Expected delta: +$575/yr (+$48/mo · 95.6%)

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 9/10 Extreme
• 🌡 Heat 3/10 Moderate 8 d/yr ≥89°F today · 18 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 19 unhealthy d/yr today · 25 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,637
• − Mortgage interest: −$6,722
• − Property taxes: −$601
• − Insurance: −$600
• − Repairs & maintenance: −$1,091
• − Management: −$1,091
• − Depreciation: −$3,491
• Taxable income: $41
• Est. tax owed @ 24.0%: −$10
• After-tax cash flow: $2,011/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: Republic School District
• NCES district ID: 5307260
• Math proficiency: 40% ▲ 5.00%
• Reading proficiency: 50% ▬ 0.00%
• Median HH income: $38,081
• Composite: 39.7/100
• National rank: #8019
• State rank: #193 of 291 in WA

Livability — Republic

• Score: 73/100
• State rank: #189
• US rank: #5156

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Republic, WA
• Population (ZIP): 2,879

Population outlook (Ferry County) Hauer SSP2

• Today (2025): 7,408 people
• By 2030: 7,210 · -2.7%
• By 2040: 6,714 · -9.4%
• By 2050: 6,331 · -14.5%
• By 2075: 5,599 · -24.4%
• By 2100: 5,057 · -31.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Two or more races 8% Hispanic / Latino 4% Native American 2% Pacific Islander 1%
• Common ancestry: Italian 5% Lithuanian 4% Portuguese 4%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Spanish 2% French/Haitian/Cajun 1% Other Asian/Pacific 1%

Political lean MEDSL · Ferry

• 2024 margin: Solid R (+33.0) · D 32.1% · R 65.1% · Other 2.8%
• 2008→2024 swing: -20.2pp toward R · 2008: -12.8pp · 2024: -33.0pp
• All cycles: 2024: R+33.0 2020: R+29.4 2016: R+30.5 2012: R+20.4 2008: R+12.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 3.45%
• Current HPI: 170.5617
• 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

+9.1% since first listed

8 events — show timeline

• 2025-08-18 Listed $120,000 NEWMLS
• 2025-08-18 Listed $120,000 NWMLS as Distributed by MLS Grid
• 2021-09-09 Sold (MLS) $102,000 NEWMLS
• 2021-09-09 Sold (MLS) $102,000 NWMLS as Distributed by MLS Grid
• 2021-09-08 Sold (Public Records) $102,000 Public Records
• 2021-08-14 Pending — NWMLS as Distributed by MLS Grid
• 2021-05-20 Listed $110,000 NEWMLS
• 2021-05-18 Listed $110,000 NWMLS as Distributed by MLS Grid

Property tax history

+1.0%/yr

Latest (2026): $601 · +8.1% YoY. Source: county tax records.