793 N CARTER

Colville, WA 99114

$110,000B-

3 bd · 2.0 ba · 924 sqft · Built 2025 · Manufactured · Active · 193 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,152/mo
• Mortgage (P&I): −$577
• Tax + insurance: −$72
• HOA: −$0
• Vac / Maint / Mgmt: −$242
• Net cashflow: $262/mo
• Annual: $3,139/yr
• Cap rate: 9.15%
• Cash-on-cash: 10.19%
• DSCR: 1.45
• 1% rule: 1.05%
• Cash to close: $30,800

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $110k.
• At list price, monthly cash flow is $262 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).
• It's been on market 193 days — a 12% lower offer ($97k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $97k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $761 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 78/100 on livability (#119 in WA, #2,418 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, amenities A+, health & safety A+; Watch: employment D, commute F.
• Colville School District (town): math 52% / reading 67% proficiency, ranked #75 of 291 in WA (top 26%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 138 active listings in the ZIP; 341 units permitted in Stevens County in 2024 (72 in 5+ unit buildings).
• Stevens County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.
• Cap rate 9.1% vs local median 1.6% in Colville — 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 193 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• 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 B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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.