203106 E Bowles Rd

Finley, WA 99337

$80,000B

3 bd · 1.0 ba · 924 sqft · Built 1980 · Manufactured · Active · 37 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,933/mo
• Mortgage (P&I): −$420
• Tax + insurance: −$133
• HOA: −$0
• Vac / Maint / Mgmt: −$406
• Net cashflow: $975/mo
• Annual: $11,695/yr
• Cap rate: 20.91%
• Cash-on-cash: 52.21%
• DSCR: 3.32
• 1% rule: 2.42%
• Cash to close: $22,400

Investor read

• This is a 3-bed/1.0-bath manufactured listed at $80k. Condition is rated poor.
• At list price, monthly cash flow is $975 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $80k).
• It's been on market 37 days — a 3% lower offer ($78k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $78k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $553 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 58/100 on livability (#502 in WA) — a working-class tenant base; expect higher turnover. Strengths: housing A+, employment B, cost of living B; Watch: crime D+, schools F, amenities F.
• Finley School District (suburban): math 19% / reading 39% proficiency, ranked #265 of 291 in WA (top 91%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 246 active listings in the ZIP; solid renter incomes; 1,532 units permitted in Benton County in 2024 (389 in 5+ unit buildings).
• Benton County population projected at +32% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 4 sale attempts since 23y ago; this cycle's ask has dropped $6k (7%) 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 $22k cash investment doubles in ~3 years — after that, you're playing with house money.
• Climate carrying-cost: major flood risk; moderate wildfire risk; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 20.9% vs local median 2.8% in Finley — 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 37 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• 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?
• Crime grade is D 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?
• 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.

Repairs flagged (vision-AI assessment)

• Major: kitchen appliances — No photos of kitchen
• Major: bathroom fixtures — No photos of bathroom
• Major: roof — No photos of roof
• Major: exterior siding — No photos of exterior
• Major: flooring — No photos of flooring
• Major: interior walls/paint — No photos of interior walls/paint