1314 Pershing Rd · Moses Lake North, WA 98837

$213,900

2 bd · 1.0 ba · 990 sqft · MultiFamily · 126 Days on market

Built 1951 Good condition 8,840 sqft lot $216/sqft · 9% below area Est $234k · 9% under ↓ 14% since listing

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Why this score? — see what drove the C+ 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 +25.1/30.0
• ARV discount +11.4/15.0
• DSCR +8.2/10.0
• 1% rule +6.6/10.0
• Condition / age +4.0/5.0
• Schools +3.9/10.0
• Livability +3.2/5.0
• Rent growth +2.1/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

This remodeled 2-bedroom, 1-bath home has a warm, comfortable feel the moment you walk in. The layout makes smart use of space, with inviting living areas that are perfect for everyday living. The updated kitchen and bath add a fresh, modern touch without losing the home’s character. Cozy and move-in ready, it’s an easy place to picture yourself calling home. Enjoy new appliances, and laminate flooring inside, and a large backyard that is fenced. Come see it today!

Key facts

• Laminate flooring
• New appliances
• Updated kitchen

Tags

• UPDATED KITCHEN
• FENCED BACKYARD
• NEW APPLIANCES
• LAMINATE FLOORING

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath multifamily listed at $214k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $475 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $214k).
• Recommended offer: $188k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.0% vs local median 2.2% in Moses Lake North — 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 65/100 on livability (#351 in WA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime C-, schools F, amenities F.
• Moses Lake School District (town): math 38% / reading 48% proficiency, ranked #198 of 291 in WA (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents soft (-1.7%/yr); 585 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 559 units permitted in Grant County in 2024 (35 in 5+ unit buildings).
• This rent runs 40% of the median local income ($75k/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.
• Grant County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 126 days — a 12% lower offer ($188k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y 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.

Risks & watch-outs

• Watch-outs: built in 1951 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $188,232 (12.0% below list)

Questions for the listing agent

1. It's been on market 126 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1951 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. 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.
7. 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.
8. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.16% ✓
• Cap rate: 8.96%
• Cash-on-cash: 9.51%
• DSCR: 1.42
• GRM: 7.2

CMA / ARV

• ARV (median comp): $234,170
• List price: $213,900
• Delta: -8.66%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -5.4%
• Equity multiple: 0.81×
• Total profit: $-11,636
• Equity at exit: $31,893

10-year hold

• IRR: 0.3%
• Equity multiple: 1.02×
• Total profit: $950
• Equity at exit: $18,494

Cash invested: $59,892 (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 98837

• Rents YoY: -1.7%
• Active inventory: 585
• Price-to-rent: 14.4×

Monthly cashflow live

• Estimated rent: $2,472 medium
• Mortgage (P&I): −$1,122
• Tax est. 1.5%: −$267 /mo · $3,208/yr
• Insurance: −$89
• HOA: −$0
• Vacancy / Maint / Mgmt: −$519
• Net cashflow: $475

Break-even live

Break-even rent $1,871

Max offer price $213,900

Occupancy floor 76%

Sensitivity live

Price	-10% $622	-5% $549	+0% $475	+5% $401	+10% $327
Rent	-10% $279	-5% $377	+0% $475	+5% $572	+10% $670
Rate	-1.0pp $582	-0.5pp $529	base $475	+0.5pp $419	+1.0pp $363

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,472
Total (2 units)			$2,472

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: $53,475
• Closing costs: $6,417
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1232 Vandenburg Ave Moses Lake, WA	2.0	1.0	960	$1,250	$1.30	44d	1	0.31mi
1422 E Craig St Moses Lake, WA	2.0–4.0	1.0–2.0	980	$725	$0.74	45d	1	0.56mi
6379 Arnold Dr Apt 17 Moses Lake, WA	2.0	1.0	760	$808	$1.06	44d	1	0.67mi
6379 Arnold Dr Unit 11 Moses Lake, WA	2.0	1.0	760	$1,040	$1.37	44d	1	0.67mi
6379 Arnold Dr Unit 15 Moses Lake, WA	2.0	1.0	760	$988	$1.30	44d	1	0.67mi
5025 Owens Rd NE Unit A301 Moses Lake, WA	1.0	1.0	596	$1,250	$2.10	44d	1	1.23mi
4727 Owens Rd NE #24 Moses Lake, WA	2.0	1.0	900	$1,200	$1.33	44d	1	1.44mi

Listing history 22 events

1. 2026-06-19
   days on market $213,900 Active 126 DOM
2. 2026-06-18
   days on market $213,900 Active 125 DOM
3. 2026-06-17
   days on market $213,900 Active 124 DOM
4. 2026-06-16
   days on market $213,900 Active 123 DOM
5. 2026-06-15
   days on market $213,900 Active 122 DOM
6. 2026-06-14
   days on market $213,900 Active 120 DOM
7. 2026-06-13
   days on market $213,900 Active 119 DOM
8. 2026-06-10
   days on market $213,900 Active 117 DOM
9. 2026-06-09
   days on market $213,900 Active 116 DOM
10. 2026-06-08
    days on market $213,900 Active 115 DOM
11. 2026-06-07
    days on market $213,900 Active 114 DOM
12. 2026-06-05
    days on market $213,900 Active 111 DOM
13. 2026-06-03
    days on market $213,900 Active 110 DOM
14. 2026-06-02
    days on market $213,900 Active 109 DOM
15. 2026-06-01
    days on market $213,900 Active 108 DOM
16. 2026-05-31
    days on market $213,900 Active 107 DOM
17. 2026-05-30
    days on market $213,900 Active 106 DOM
18. 2026-04-24
    price $213,900
19. 2026-02-13
    listed $218,900 Active
20. 2025-01-17
    soldstatus $239,400 Closed
21. 2024-09-18
    status Pending
22. 2024-08-01
    listed $249,900 Active

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥96°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 9/10 Extreme 18 unhealthy d/yr today · 18 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,664
• − Mortgage interest: −$11,982
• − Property taxes: −$3,208
• − Insurance: −$1,070
• − Repairs & maintenance: −$2,373
• − Management: −$2,373
• − Depreciation: −$6,223
• Taxable income: $2,435
• Est. tax owed @ 24.0%: −$585
• After-tax cash flow: $5,111/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.

Condition & rehab AI · 13 photos

Good 80/100 Cosmetic rehab

This remodeled 2-bedroom, 1-bath home is move-in ready with updated kitchen and bath, new flooring, and fresh exterior paint. It offers a cozy and modern living space.

Value-add opportunities

• Resale Paint exterior trim — Enhances curb appeal
• Resale Replace ceiling fan — Improves air circulation and aesthetics

Renovation cost estimate screening

Value-add ROI direction

• Resale Paint exterior trim — Enhances curb appeal ↑
• Resale Replace ceiling fan — Improves air circulation and aesthetics ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Moses Lake School District
• NCES district ID: 5305220
• Math proficiency: 38% ▬ 0.00%
• Reading proficiency: 48% ▼ -1.00%
• Median HH income: $49,033
• Composite: 39.17/100
• National rank: #8232
• State rank: #198 of 291 in WA

Livability — Moses Lake North

• Score: 65/100
• State rank: #351
• US rank: #13402

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Moses Lake North, WA
• County: Grant County · 61,643 people
• City population: 47,399
• Metro: Moses Lake, WA
• Population (ZIP): 49,455
• Household income: $74,586
• Rent vs Own: 33.4% rent · 66.6% own
• Severe rent burden: 1064.0

Population outlook (Grant County) Hauer SSP2

• Today (2025): 99,356 people
• By 2030: 102,107 · +2.8%
• By 2040: 108,318 · +9.0%
• By 2050: 114,712 · +15.5%
• By 2075: 131,376 · +32.2%
• By 2100: 146,163 · +47.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.55)
• Race & ethnicity: White 58% Hispanic / Latino 33% Two or more races 15% Black 2% Asian 1%
• Hispanic origin (detail): Mexican 30%
• Common ancestry: Portuguese 3% Subsaharan African 2% Lithuanian 2%
• Foreign-born: 10% · Canada
• Languages at home: 76% English-only · Spanish 21% Russian/Polish/Slavic 2%

Political lean MEDSL · Grant

• 2024 margin: Solid R (+37.5) · D 30.0% · R 67.4% · Other 2.6%
• 2008→2024 swing: -9.9pp toward R · 2008: -27.5pp · 2024: -37.5pp
• All cycles: 2024: R+37.5 2020: R+34.4 2016: R+37.9 2012: R+32.6 2008: R+27.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -384.29%
• Current HPI: 208.4574
• Rent YoY: ▼ -1.72%
• Metro: Moses Lake, 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

-14.4% since first listed

5 events — show timeline

• 2026-04-24 Price Changed $213,900 NWMLS as Distributed by MLS Grid
• 2026-02-13 Listed $218,900 NWMLS as Distributed by MLS Grid
• 2025-01-17 Sold (MLS) $239,400 NWMLS as Distributed by MLS Grid
• 2024-09-18 Pending — NWMLS as Distributed by MLS Grid
• 2024-08-01 Listed $249,900 NWMLS as Distributed by MLS Grid