193 Golden Rd

Oroville, WA 98844

$49,900B-

3 bd · 2.0 ba · 2,344 sqft · Built 1913 · SingleFamily · Pending · 400 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,296/mo
• Mortgage (P&I): −$262
• Tax + insurance: −$123
• HOA: −$0
• Vac / Maint / Mgmt: −$272
• Net cashflow: $639/mo
• Annual: $7,674/yr
• Cap rate: 21.67%
• Cash-on-cash: 54.92%
• DSCR: 3.44
• 1% rule: 2.60%
• Cash to close: $13,972

Investor read

• This is a 3-bed/2.0-bath single-family listed at $50k.
• At list price, monthly cash flow is $639 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• It's been on market 400 days — a 12% lower offer ($44k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $44k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $345 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Location reads 63/100 on livability (#389 in WA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime A-, housing B+; Watch: health & safety C-, amenities F, commute F.
• Oroville School District (rural): math 34% / reading 46% proficiency, ranked #228 of 291 in WA (top 78%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 64% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Oroville Elementary (277 students, 77% FRL); Oroville Middle-High School (253 students, 75% FRL).
• Watch-outs: built in 1913 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 181 active listings in the ZIP; 234 units permitted in Okanogan County in 2024 (0 in 5+ unit buildings).
• Okanogan County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts; this cycle's ask has dropped $130k (72%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~3 years — after that, you're playing with house money.
• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.
• Cap rate 21.7% vs local median 1.4% in Oroville — 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.

Questions for listing agent

• It's been on market 400 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1913 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.
• 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.