2240 W Broadway #121 · Moses Lake, WA 98837

$95,000

3 bd · 1.0 ba · 924 sqft · Manufactured public records · 64 Days on market

Built 1982 Est $77k · 24% over ↓ 13% 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +3.9/10.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Move-in ready and beautifully updated 3 bed, 2 bath home in a peaceful 55+ community! This refreshed single-wide offers a bright open floor plan with a modern kitchen, updated finishes, and stylish touches throughout. Enjoy the spacious layout, covered 2 car parking, storage shed, and easy-care yard. The updated kitchen features stainless steel appliances and clean modern cabinetry, creating a fresh and inviting space. Comfortable, affordable, and low-maintenance living in a quiet park close to town amenities.

Key facts

• 2 parking spots
• Built 1982
• Listed 64 days

Property features AI

Finance

• Financial info: Listing terms: Cash or Conventional
• HOA & community: Located in Broadway Estates park; Park has about 110 homes; Senior community; Pets allowed (cats ok, dogs ok — see remarks); Common area in the park; Monthly land lease: $383

Exterior

• Parking: Carport
• Utilities: Electric service; Water from community/shared well; Power provided by Grant County PUD
• Home design: Manufactured single-wide home; One story; Manufactured home model: CORINTHIAN (MODULINE); Mobile home remains on property
• Construction: Metal/vinyl construction; Metal roof
• Exterior features: Metal/vinyl exterior; Paved lot

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator; Stove/Range
• Bedrooms: 3 bedrooms
• Flooring: Laminate; Carpet
• Bathrooms: 1 full bath; 1 three-quarter bath
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Ceiling fans; Double-pane windows; Patio/porch/deck; Entry; Living room; Kitchen with eating space; Utility room
• Laundry & utility: Utility room (space for laundry)

What this means for you Summary

Snapshot

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

Deal economics

• At list price, monthly cash flow is $532 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $95k).
• Recommended offer: $89k (6.0% below list) — sets the bar for market timing.
• Cap rate 13.0% vs local median 3.3% in Moses Lake — 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 75/100 on livability (#170 in WA, #4,228 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, amenities A-; Watch: employment C-, schools D+, crime 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; 11 comparable units currently listed for rent nearby; rentals lingering (median 44d 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).

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.
• Grant County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $27k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 64 days — a 6% lower offer ($89k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $14k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $89,300 (6.0% below list)

Questions for the listing agent

1. It's been on market 64 days. Have you received any prior offers? Is the seller open to a 6% 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. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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 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: 1.58% ✓
• Cap rate: 13.01%
• Cash-on-cash: 24.00%
• DSCR: 2.07
• GRM: 5.3

CMA / ARV

• ARV (on-the-fly): $76,692
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2240 W Broadway #137	0.00mi	2/1.0 (-1)	924 (0%)	0mo	$76,500	$83	95
1908 W Marina Dr #10	0.14mi	2/1.0 (-1)	924 (0%)	10mo	$62,000	$67	80
1804 Marina Dr W #42	0.20mi	2/1.0 (-1)	952 (+3%)	21mo	$110,000	$116	63

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 13.8%
• Equity multiple: 1.53×
• Total profit: $14,104
• Equity at exit: $14,165

10-year hold

• IRR: 20.2%
• Equity multiple: 2.46×
• Total profit: $38,966
• 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 98837

• Rents YoY: -1.7%
• Active inventory: 585
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $1,504 high
• Mortgage (P&I): −$498
• Tax est. 1.5%: −$119 /mo · $1,425/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$316
• Net cashflow: $532

Break-even live

Break-even rent $831

Max offer price $95,000

Occupancy floor 60%

Sensitivity live

Price	-10% $598	-5% $565	+0% $532	+5% $499	+10% $466
Rent	-10% $413	-5% $473	+0% $532	+5% $591	+10% $651
Rate	-1.0pp $580	-0.5pp $556	base $532	+0.5pp $507	+1.0pp $482

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: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1830 W Crouse St #1 Moses Lake, WA	2.0	1.0	946	$1,295	$1.37	44d	1	0.13mi
1701 W Crouse St Moses Lake, WA	1.0–3.0	1.0–2.0	1017	$1,650	$1.62	44d	6	0.27mi
Pheasant St Moses Lake, WA	2.0	1.0	850	$1,450	$1.71	44d	1	0.44mi
2722 W Peninsula Dr Moses Lake, WA	2.0	1.0	858	$1,350	$1.57	44d	1	0.65mi
2812 W Marina Dr Unit D Moses Lake, WA	2.0	2.0	1078	$1,695	$1.57	44d	1	0.66mi
511 S Interlake Rd Moses Lake, WA	2.0–4.0	2.0	1095	$1,170	$1.07	44d	8	0.73mi
2900 W Marina Dr Moses Lake, WA	2.0	2.0	1036	$1,688	$1.63	44d	1	0.77mi
1211 W Ivy Ave Unit 203 Moses Lake, WA	2.0	1.0	900	$1,250	$1.39	44d	1	0.90mi
1205 W Ivy Ave Unit 101 Moses Lake, WA	2.0	1.0	900	$1,150	$1.28	44d	1	0.90mi
1206 W Columbia Ave Unit D Moses Lake, WA	2.0	1.0	900	$1,295	$1.44	44d	1	0.93mi
1050 S Division St Moses Lake, WA	1.0–2.0	1.0	675	$1,309	$1.94	44d	14	1.45mi

Listing history 5 events

1. 2026-05-01
   status Pending
2. 2026-04-14
   status Active
3. 2026-04-07
   status Pending
4. 2026-03-30
   price $95,000
5. 2026-02-20
   listed $109,000 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 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥96°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 7/10 Severe 12 unhealthy d/yr today · 14 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,054
• − Mortgage interest: −$5,321
• − Property taxes: −$1,425
• − Insurance: −$475
• − Repairs & maintenance: −$1,444
• − Management: −$1,444
• − Depreciation: −$2,764
• Taxable income: $5,180
• Est. tax owed @ 24.0%: −$1,243
• After-tax cash flow: $5,141/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: 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

• Score: 75/100
• State rank: #170
• US rank: #4228

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Moses Lake, WA
• County: Grant County · 61,643 people
• City population: 49,455
• 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

-12.8% since first listed

5 events — show timeline

• 2026-05-01 Pending — NWMLS as Distributed by MLS Grid
• 2026-04-14 Relisted — NWMLS as Distributed by MLS Grid
• 2026-04-07 Pending — NWMLS as Distributed by MLS Grid
• 2026-03-30 Price Changed $95,000 NWMLS as Distributed by MLS Grid
• 2026-02-20 Listed $109,000 NWMLS as Distributed by MLS Grid

Property tax history

-1.8%/yr

Latest (2026): $170 · +0.0% YoY. Source: county tax records.