3010 W Peninsula Dr #77 · Moses Lake, WA 98837

$69,950

3 bd · 2.0 ba · 924 sqft · Manufactured public records · 42 Days on market

Built 1988 $76/sqft · 8% below area Est $80k · 13% under

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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
• ARV discount +13.3/15.0
• 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
• Appreciation +0.0/10.0

Listing remarks

Just like new single wide has been totally remodeled in a great park with security gate. 12' x 8' Shed

Key facts

• Parking
• Built 1988
• Listed 41 days

Property features AI

Finance

• Other: Calculated living area approximately 980 square feet; Foundation details: see remarks
• Financial info: Listing terms: Cash or Conventional
• HOA & community: Located in Peninsula Estates (manufactured home park approved for sale); Land lease: $500

Exterior

• Parking: Uncovered parking
• Utilities: Electric energy source; Community water; Pioneer Energy Mgt water and sewer; Grant County PUD power
• Home design: Manufactured single-wide home; Single level; Updated/remodeled; North-facing
• Construction: Wood construction; Composition roof; Manufactured after 06/15/1976; Mobile home remains
• Exterior features: Wood exterior; Wood products; Located on a cul-de-sac; Paved access; Secluded lot

Interior

• Kitchen: Refrigerator
• Bedrooms: 2 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Heat pump heating; Forced air cooling; Has heating; Has cooling
• Interior features: Water heater; Bath off primary; Patio/porch/deck; Has view
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $70k.

Deal economics

• At list price, monthly cash flow is $829 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $70k).
• Recommended offer: $68k (3.0% below list) — sets the bar for market timing.
• Cap rate 20.5% 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; 7 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 $484 of loan paydown is wiped out by about $2k 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 $20k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 42 days — a 3% lower offer ($68k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $16k; list at $70k implies a 330% gain — meaningful room to come down on a strong offer.

Recommended offer $67,851 (3.0% below list)

Questions for the listing agent

1. It's been on market 42 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 2.24% ✓
• Cap rate: 20.51%
• Cash-on-cash: 50.77%
• DSCR: 3.26
• GRM: 3.7

CMA / ARV

• ARV (median comp): $80,326
• List price: $69,950
• Delta: -12.92%
• Verdict: UNDERPRICED
• Comps: 9 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
140 3010 W Peninsula Drive #140	0.06mi	2/2.0 (-1)	938 (+2%)	1mo	$77,000	$82	89
3010 W Peninsula Dr #132	0.00mi	2/2.0 (-1)	924 (0%)	8mo	$50,000	$54	89
3211 W Wapato Dr #24	0.27mi	3/1.5	936 (+1%)	8mo	$48,000	$51	77
3010 W Peninsula Dr #104	0.14mi	2/2.0 (-1)	938 (+2%)	17mo	$55,500	$59	72
3131 W Wapato Dr #17	0.19mi	3/2.0	1,056 (+14%)	16mo	$114,000	$108	54
3211 W Wapato Dr #66	0.26mi	3/2.0	1,056 (+14%)	22mo	$112,000	$106	46

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: 45.3%
• Equity multiple: 2.88×
• Total profit: $36,827
• Equity at exit: $10,430

10-year hold

• IRR: 49.9%
• Equity multiple: 5.20×
• Total profit: $82,186
• Equity at exit: $6,048

Cash invested: $19,586 (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: 3.7×

Monthly cashflow live

• Estimated rent: $1,567 high
• Mortgage (P&I): −$367
• Tax from tax record: −$14 /mo · $164/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$329
• Net cashflow: $829

Break-even live

Break-even rent $519

Max offer price $69,950

Occupancy floor 42%

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: $17,488
• Closing costs: $2,098
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
511 S Interlake Rd Moses Lake, WA	2.0–4.0	2.0	1095	$1,170	$1.07	43d	8	0.27mi
2722 W Peninsula Dr Moses Lake, WA	2.0	1.0	858	$1,350	$1.57	43d	1	0.29mi
2900 W Marina Dr Moses Lake, WA	2.0	2.0	1036	$1,688	$1.63	43d	1	0.55mi
2812 W Marina Dr Unit D Moses Lake, WA	2.0	2.0	1078	$1,695	$1.57	43d	1	0.56mi
1830 W Crouse St #1 Moses Lake, WA	2.0	1.0	946	$1,295	$1.37	43d	1	1.04mi
1701 W Crouse St Moses Lake, WA	1.0–3.0	1.0–2.0	1017	$1,650	$1.62	43d	6	1.16mi
Pheasant St Moses Lake, WA	2.0	1.0	850	$1,450	$1.71	43d	1	1.23mi

Listing history 20 events

1. 2026-06-19
   days on market $69,950 Active 42 DOM
2. 2026-06-18
   days on market $69,950 Active 41 DOM
3. 2026-06-17
   days on market $69,950 Active 40 DOM
4. 2026-06-16
   days on market $69,950 Active 39 DOM
5. 2026-06-15
   days on market $69,950 Active 38 DOM
6. 2026-06-14
   days on market $69,950 Active 36 DOM
7. 2026-06-13
   pricedays on market $69,950 Active 35 DOM
8. 2026-06-10
   days on market $74,950 Active 33 DOM
9. 2026-06-09
   days on market $74,950 Active 32 DOM
10. 2026-06-08
    days on market $74,950 Active 31 DOM
11. 2026-06-07
    days on market $74,950 Active 30 DOM
12. 2026-06-05
    days on market $74,950 Active 27 DOM
13. 2026-06-03
    days on market $74,950 Active 26 DOM
14. 2026-06-02
    days on market $74,950 Active 25 DOM
15. 2026-06-01
    days on market $74,950 Active 24 DOM
16. 2026-05-31
    days on market $74,950 Active 23 DOM
17. 2026-05-30
    days on market $74,950 Active 22 DOM
18. 2026-05-08
    listed $74,950 Active
19. 2001-05-01
    soldstatus $16,250
20. 1993-10-14
    soldstatus $21,000

ⓘ 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: $164 · $14/mo
• Projected year-2 tax: $686 · $57/mo
• Expected delta: +$522/yr (+$43/mo · 318.3%)

ⓘ 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 (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: $18,809
• − Mortgage interest: −$3,918
• − Property taxes: −$164
• − Insurance: −$350
• − Repairs & maintenance: −$1,505
• − Management: −$1,505
• − Depreciation: −$2,035
• Taxable income: $9,333
• Est. tax owed @ 24.0%: −$2,240
• After-tax cash flow: $7,704/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

+233.1% since first listed

4 events — show timeline

• 2026-06-10 Price Changed $69,950 NWMLS as Distributed by MLS Grid
• 2026-05-08 Listed $74,950 NWMLS as Distributed by MLS Grid
• 2001-05-01 Sold (Public Records) $16,250 Public Records
• 1993-10-14 Sold (Public Records) $21,000 Public Records

Property tax history

-1.9%/yr

Latest (2026): $164 · +0.0% YoY. Source: county tax records.