134 Mowich Way

Ashford, WA 98304

$299,500C-

2 bd · 2.0 ba · 924 sqft · Built 1984 · Other · Active · 39 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,749/mo
• Mortgage (P&I): −$1,571
• Tax + insurance: −$342
• HOA: −$25
• Vac / Maint / Mgmt: −$577
• Net cashflow: $233/mo
• Annual: $2,800/yr
• Cap rate: 7.23%
• Cash-on-cash: 3.34%
• DSCR: 1.15
• 1% rule: 0.92%
• Cash to close: $83,860

Investor read

• This is a 2-bed/2.0-bath other listed at $300k.
• At list price, monthly cash flow is $233 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $275k (8.2% below list).
• It's been on market 39 days — a 3% lower offer ($291k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $275k (8.2% below list) — sets the bar for 1% rule.
• In year one you build about $8k of equity ($2k loan paydown + $6k appreciation (2.0% local appreciation)).
• Location reads 56/100 on livability (#543 in WA) — a working-class tenant base; expect higher turnover. Strengths: crime A, cost of living A-, housing B; Watch: employment C-, health & safety C-, amenities F.
• Eatonville School District (rural): math 45% / reading 60% proficiency, ranked #116 of 291 in WA (top 40%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Columbia Crest A-Stem Academy (143 students, 66% FRL); Eatonville Middle School (411 students, 45% FRL); Eatonville High School (560 students, 41% FRL) — zoned schools average 51% FRL vs 32% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 43 active listings in the ZIP; 265 units permitted in Lewis County in 2024 (44 in 5+ unit buildings).
• Lewis County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts since 9y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• At projected returns (2.0% appreciation + 3.0% rent growth), your $84k cash investment doubles in ~7 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• It's been on market 39 days. Have you received any prior offers? Is the seller open to a 8% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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.