404 2nd Ave N · Okanogan, WA 98840

$95,000

3 bd · 1.0 ba · 1,192 sqft · SingleFamily public records · 2 Days on market

Built 1922 4,791 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
• Schools +4.2/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

FIXER! SOLD AS-IS! What you see is what you get! 3 bed 1 bath, 1100 sq ft home to work with along with a one car detached garage! Priced to move so make us an offer! Seller is willing to carry a contract. Located in downtown Okanagon would make a great rental property!

Key facts

• 4,791 sq ft lot
• Garage
• Built 1922

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $95k.

Deal economics

• At list price, monthly cash flow is $157 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $95k).

Location & tenants

• Location reads 68/100 on livability (#267 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.
• Okanogan School District (town): math 40% / reading 55% proficiency, ranked #173 of 291 in WA (top 60%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 62 active listings in the ZIP; 234 units permitted in Okanogan County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $657 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Okanogan County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $50k; list at $95k implies a 92% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $460/mo; built in 1922 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wildfire risk; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $95,000

Questions for the listing agent

1. Built in 1922 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 1.73% ✓
• Cap rate: 14.09%
• Cash-on-cash: 27.83%
• DSCR: 2.24
• GRM: 4.8

CMA / ARV

• ARV (on-the-fly): $236,016
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
746 2nd Ave N	0.25mi	2/1.0 (-1)	1,184 (-1%)	18mo	$209,000	$177	67
758 4th Ave N	0.27mi	3/1.0	1,358 (+14%)	8mo	$260,000	$191	58
1053 4th Ave N	0.53mi	3/2.0	1,100 (-8%)	17mo	$235,900	$214	45
929 2nd Ave	0.39mi	2/1.0 (-1)	1,056 (-11%)	16mo	$209,000	$198	44
919 4th Ave N	0.40mi	2/1.0 (-1)	1,326 (+11%)	22mo	$264,950	$200	39

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

Projected returns pro-forma

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

5-year hold

• IRR: -5.1%
• Equity multiple: 0.81×
• Total profit: $-5,101
• Equity at exit: $14,165

10-year hold

• IRR: 4.9%
• Equity multiple: 1.37×
• Total profit: $9,715
• Equity at exit: $8,214

Cash invested: $26,600 (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 98840

• Home prices YoY: -30.6%
• Active inventory: 62
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $1,648 medium
• Mortgage (P&I): −$498
• Tax from tax record: −$147 /mo · $1,768/yr
• Insurance: −$40
• Flood insurance flood zone: −$460 /mo · $5,525/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$346
• Net cashflow: $157

Break-even live

Break-even rent $1,450

Max offer price $95,000

Occupancy floor 86%

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: $23,750
• Closing costs: $2,850
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-03-12
   status Pending
2. 2026-03-09
   listed $95,000 Active
3. 2004-11-01
   soldstatus $49,500

ⓘ 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: $1,768 · $147/mo
• Projected year-2 tax: $1,768 · $147/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 10/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 8/10 Severe
• 🌡 Heat 5/10 Major 7 d/yr ≥98°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 22 unhealthy d/yr today · 23 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,777
• − Mortgage interest: −$5,321
• − Property taxes: −$1,768
• − Insurance: −$6,000
• − Repairs & maintenance: −$1,582
• − Management: −$1,582
• − Depreciation: −$2,764
• Taxable income: $760
• Est. tax owed @ 24.0%: −$182
• After-tax cash flow: $1,696/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: Okanogan School District
• NCES district ID: 5306150
• Math proficiency: 40% ▲ 7.00%
• Reading proficiency: 55% ▲ 4.00%
• Median HH income: $40,402
• Composite: 41.89/100
• National rank: #7127
• State rank: #173 of 291 in WA

Livability — Okanogan

• Score: 68/100
• State rank: #267
• US rank: #9301

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Okanogan, WA
• Population (ZIP): 5,084

Population outlook (Okanogan County) Hauer SSP2

• Today (2025): 40,288 people
• By 2030: 39,265 · -2.5%
• By 2040: 37,110 · -7.9%
• By 2050: 35,389 · -12.2%
• By 2075: 31,609 · -21.5%
• By 2100: 26,647 · -33.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (71%)
• Race & ethnicity: White 71% Two or more races 18% Hispanic / Latino 13% Native American 5%
• Hispanic origin (detail): Mexican 13%
• Common ancestry: Portuguese 6% Italian 4% Romanian 2%
• Foreign-born: 6% · Canada
• Languages at home: 88% English-only · Spanish 10% Other Indo-European 1% Other Asian/Pacific 1%

Political lean MEDSL · Okanogan

• 2024 margin: R (+15.0) · D 41.1% · R 56.0% · Other 2.9%
• 2008→2024 swing: -8.0pp toward R · 2008: -7.0pp · 2024: -15.0pp
• All cycles: 2024: R+15.0 2020: R+13.8 2016: R+21.3 2012: R+14.8 2008: R+7.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -100.44%
• Current HPI: 228.1084
• 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

+91.9% since first listed

3 events — show timeline

• 2026-03-12 Pending — NWMLS as Distributed by MLS Grid
• 2026-03-09 Listed $95,000 NWMLS as Distributed by MLS Grid
• 2004-11-01 Sold (Public Records) $49,500 Public Records

Property tax history

+4.7%/yr

Latest (2026): $1,768 · +3.4% YoY. Source: county tax records.