112 3rd Ave S · Okanogan, WA 98840

$160,000

3 bd · 2.0 ba · 2,113 sqft · SingleFamily public records · 3 Days on market

Built 1935 10,019 sqft lot

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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 +19.5/30.0
• ARV discount +7.5/15.0
• DSCR +6.2/10.0
• 1% rule +5.4/10.0
• 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

Opportunity awaits with this spacious Okanogan property offering over 2,100 square feet of living space on a 10,000+ SF corner lot. The main residence features 3 bedrooms, 1 bathroom, generous living and dining areas, and an unfinished basement with laundry, furnace, water heater, and additional storage space. A detached secondary structure provides additional living space complete with a kitchen, bedroom, office/flex room, and 3/4 bath. Additional features include a detached garage, covered patio, alley access, off-street parking, and a metal roof. Conveniently located near downtown Okanogan, this property offers flexibility, space, and potential that is increasingly difficult to find at t

Key facts

• Alley access
• Unfinished basement
• Covered patio

Tags

• CORNER LOT
• UNFINISHED BASEMENT
• DETACHED SECONDARY STRUCTURE
• COVERED PATIO
• ALLEY ACCESS
• OFF-STREET PARKING

Property features AI

Finance

• Other: Lot includes two parcel numbers (Lot 1 & 2); Lot features: alley, corner lot; lot size approx. 0.23 acres
• Financial info: Listing is cash sale terms

Exterior

• Parking: Detached garage (1 covered space); Off-street parking; Driveway; Garage present (~476 sq ft)
• Security: Partially fenced yard
• Utilities: Electric energy source; Public water (City of Okanogan); Sewer connected (City of Okanogan); Power by Okanogan County PUD; Electric water heater
• Home design: Single-family residence; One and one-half story; Main-level entry; Built on lot; Has a view; Fair condition
• Construction: Built circa 1935 (effective year 1935); Brick and wood construction; Metal roof; Poured concrete foundation
• Exterior features: Brick and wood exterior; Wood products; Partially fenced; Outbuildings; Patio; Corner lot with alley access; Curbs, paved streets and sidewalk; Garden space; Level topography

Interior

• Kitchen: Appliances listed in remarks (see listing)
• Bedrooms: 4 bedrooms (all on the main level)
• Flooring: Hardwood; Vinyl; Carpet
• Bathrooms: 1 full bathroom; 1 three-quarter bathroom; 2 total showers; 1 bathtub; 2 bathrooms on the main level
• Heating & cooling: Baseboard heating; Forced air heating; Heat pump; Wall furnace; Forced air cooling; Heat pump cooling; Window units
• Interior features: Ceiling fans; Dining room; Water heater; Unfinished basement
• Laundry & utility: Washer/dryer information referenced in remarks (see listing)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $181 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $160k).

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: 63 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 $1k of loan paydown is wiped out by about $5k 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 3 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1935 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: 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 $160,000

Questions for the listing agent

1. Built in 1935 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.04% ✓
• Cap rate: 7.65%
• Cash-on-cash: 4.83%
• DSCR: 1.22
• GRM: 8.0

CMA / ARV

• ARV (on-the-fly): $327,515
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
645 5th Ave S	0.29mi	3/1.5	2,206 (+4%)	8mo	$310,000	$141	70
434 Maple St	0.21mi	3/1.5	1,926 (-9%)	8mo	$328,000	$170	67
965 3rd Ave N	0.61mi	3/1.5	2,167 (+3%)	3mo	$269,900	$125	63
505 5th Ave	0.26mi	3/2.0	2,249 (+6%)	22mo	$380,000	$169	59
925 7th Ave S	0.50mi	3/2.0	2,132 (+1%)	23mo	$300,000	$141	56
465 Parks Dr	0.50mi	3/3.5	2,273 (+8%)	10mo	$528,250	$232	50
433 4th Ave N	0.22mi	3/2.0	2,420 (+14%)	23mo	$272,000	$112	47
509 4th Ave N	0.25mi	3/1.0	1,804 (-15%)	21mo	$280,000	$155	42
1184 1st Ave S	0.72mi	4/2.0 (+1)	2,133 (+1%)	23mo	$370,000	$173	40

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: -8.7%
• Equity multiple: 0.68×
• Total profit: $-14,389
• Equity at exit: $23,857

10-year hold

• IRR: 0.8%
• Equity multiple: 1.05×
• Total profit: $2,444
• Equity at exit: $13,834

Cash invested: $44,800 (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: 63
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $1,663 medium
• Mortgage (P&I): −$839
• Tax from tax record: −$227 /mo · $2,726/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$349
• Net cashflow: $181

Break-even live

Break-even rent $1,434

Max offer price $160,000

Occupancy floor 84%

Sensitivity live

Price	-10% $271	-5% $226	+0% $181	+5% $135	+10% $90
Rent	-10% $49	-5% $115	+0% $181	+5% $246	+10% $312
Rate	-1.0pp $261	-0.5pp $221	base $181	+0.5pp $139	+1.0pp $97

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: $40,000
• Closing costs: $4,800
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-06-21
   days on market $160,000 Active 3 DOM
2. 2026-06-18
   remarks 699-char remark
3. 2026-06-18
   listed $160,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast WA · Resets to sale price

• Current annual tax: $2,726 · $227/mo
• Projected year-2 tax: $2,726 · $227/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 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 9/10 Extreme
• 🌡 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: $19,950
• − Mortgage interest: −$8,962
• − Property taxes: −$2,726
• − Insurance: −$800
• − Repairs & maintenance: −$1,596
• − Management: −$1,596
• − Depreciation: −$4,655
• Taxable loss: −$385
• Est. tax savings @ 24.0%: +$92
• After-tax cash flow: $2,258/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

1 event — show timeline

• 2026-06-17 Listed $160,000 NWMLS as Distributed by MLS Grid

Property tax history

+7.8%/yr

Latest (2026): $2,726 · +3.2% YoY. Source: county tax records.