2240 W Broadway Ave #101 · Moses Lake, WA 98837

$68,000

2 bd · 1.0 ba · 784 sqft · Manufactured public records · 53 Days on market

Built 1985 $87/sqft · 9% above area Est $62k · 9% over

---

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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +3.9/10.0
• Livability +3.8/5.0
• ARV discount +3.3/15.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0
• Appreciation +0.0/10.0

Listing remarks

Adorable home with standout curb appeal in a welcoming 55+ community. Enjoy the convenience of a covered carport, easy-care yard, and extra storage shed. This cozy 2-bedroom, 1-bath home offers a functional layout and just the right amount of space for simple, comfortable living.

Key facts

• Easy-care yard
• Covered carport
• Extra storage shed

Tags

• COVERED CARPORT
• EASY-CARE YARD
• EXTRA STORAGE SHED

Property features AI

Finance

• Financial info: Accepts cash and conventional financing
• HOA & community: Located in Broadway Estates; Senior community; Pets allowed: see remarks; Monthly land lease: $383

Exterior

• Parking: Carport
• Utilities: Electric power; Public and shared well water; Public sewer
• Home design: Manufactured home (single wide); One story; Make: SKYLINE, Model: HAMPSHIRE; Mobile home remains on site
• Construction: Wood construction; Composition roof
• Exterior features: Wood exterior; Paved lot

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator; Stove/Range
• Bedrooms: 2 bedrooms
• Flooring: Laminate; Carpet
• Bathrooms: 1 full bathroom with bathtub and shower
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Ceiling fan(s); Landscaped
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $68k.

Deal economics

• At list price, monthly cash flow is $700 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $68k).
• Recommended offer: $66k (3.0% below list) — sets the bar for market timing.
• Cap rate 18.6% 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-, crime F, commute 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.
• Zoned schools: Peninsula Elementary (416 students, 61% FRL); Frontier Middle School (758 students, 72% FRL); Moses Lake High School (1,984 students, 64% FRL).
• Market conditions: Rents soft (-1.7%/yr); 589 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals lingering (median 45d 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 $470 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 $19k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 53 days — a 3% lower offer ($66k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 25y ago; this cycle's ask has dropped $11k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $18k; list at $68k implies a 278% gain — meaningful room to come down on a strong offer.

Recommended offer $65,960 (3.0% below list)

Questions for the listing agent

1. It's been on market 53 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: 2.04% ✓
• Cap rate: 18.65%
• Cash-on-cash: 44.12%
• DSCR: 2.96
• GRM: 4.1

CMA / ARV

• ARV (median comp): $62,253
• List price: $68,000
• Delta: 9.23%
• Verdict: FAIR
• Comps: 5 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1804 W Marina Dr #41	0.20mi	2/1.0	784 (0%)	1mo	$27,500	$35	90
1908 W. Marina Dr #5	0.14mi	2/1.0	728 (-7%)	13mo	$60,000	$82	70

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: 37.8%
• Equity multiple: 2.55×
• Total profit: $29,472
• Equity at exit: $10,139

10-year hold

• IRR: 42.9%
• Equity multiple: 4.53×
• Total profit: $67,253
• Equity at exit: $5,879

Cash invested: $19,040 (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: 589
• Price-to-rent: 4.1×

Monthly cashflow live

• Estimated rent: $1,388 high
• Mortgage (P&I): −$357
• Tax from tax record: −$12 /mo · $139/yr
• Insurance: −$28
• HOA: −$0
• Vacancy / Maint / Mgmt: −$291
• Net cashflow: $700

Break-even live

Break-even rent $502

Max offer price $68,000

Occupancy floor 45%

Sensitivity live

Price	-10% $738	-5% $719	+0% $700	+5% $603	+10% $580
Rent	-10% $590	-5% $645	+0% $700	+5% $755	+10% $810
Rate	-1.0pp $734	-0.5pp $717	base $700	+0.5pp $682	+1.0pp $664

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: $17,000
• Closing costs: $2,040
• Reserves months: —
• Total cash needed: —

Rent comps 12 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	45d	1	0.13mi
1701 W Crouse St Moses Lake, WA	1.0–3.0	1.0–2.0	1017	$1,525	$1.50	45d	6	0.27mi
Pheasant St Moses Lake, WA	2.0	1.0	850	$1,450	$1.71	45d	1	0.44mi
2722 W Peninsula Dr Moses Lake, WA	2.0	1.0	858	$1,350	$1.57	45d	1	0.65mi
2812 W Marina Dr Unit D Moses Lake, WA	2.0	2.0	1078	$1,695	$1.57	45d	1	0.66mi
511 S Interlake Rd Moses Lake, WA	2.0–4.0	2.0	1095	$926	$0.85	45d	8	0.73mi
2900 W Marina Dr Moses Lake, WA	2.0	2.0	1036	$1,688	$1.63	45d	1	0.77mi
1211 W Ivy Ave Unit 203 Moses Lake, WA	2.0	1.0	900	$1,250	$1.39	45d	1	0.90mi
1205 W Ivy Ave Unit 101 Moses Lake, WA	2.0	1.0	900	$1,150	$1.28	45d	1	0.90mi
1206 W Columbia Ave Unit D Moses Lake, WA	2.0	1.0	900	$1,295	$1.44	45d	1	0.93mi
2583 Elgin Rd NE Unit A Moses Lake, WA	1.0	1.0	750	$1,150	$1.53	45d	1	1.44mi
1050 S Division St Moses Lake, WA	1.0–2.0	1.0	675	$1,309	$1.94	45d	14	1.45mi

Listing history 27 events

1. 2026-06-21
   days on market $68,000 Active 53 DOM
2. 2026-06-19
   days on market $68,000 Active 51 DOM
3. 2026-06-18
   days on market $68,000 Active 50 DOM
4. 2026-06-17
   days on market $68,000 Active 49 DOM
5. 2026-06-16
   days on market $68,000 Active 48 DOM
6. 2026-06-15
   price $68,000 Active 47 DOM
7. 2026-06-15
   days on market $74,000 Active 47 DOM
8. 2026-06-14
   days on market $74,000 Active 45 DOM
9. 2026-06-13
   days on market $74,000 Active 44 DOM
10. 2026-06-10
    days on market $74,000 Active 42 DOM
11. 2026-06-09
    days on market $74,000 Active 41 DOM
12. 2026-06-08
    days on market $74,000 Active 40 DOM
13. 2026-06-07
    days on market $74,000 Active 39 DOM
14. 2026-06-05
    days on market $74,000 Active 36 DOM
15. 2026-06-03
    days on market $74,000 Active 35 DOM
16. 2026-06-02
    days on market $74,000 Active 34 DOM
17. 2026-06-01
    days on market $74,000 Active 33 DOM
18. 2026-05-31
    days on market $74,000 Active 32 DOM
19. 2026-05-30
    days on market $74,000 Active 31 DOM
20. 2026-05-12
    price $74,000
21. 2026-04-29
    listed $79,000 Active
22. 2014-08-05
    soldstatus $18,000 Sold
23. 2014-07-18
    status Pending
24. 2014-07-07
    listed $18,000 Active
25. 2001-07-19
    soldstatus $17,950
26. 2001-07-10
    historical
27. 2001-03-16
    listed $19,950

ⓘ 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: $139 · $12/mo
• Projected year-2 tax: $666 · $56/mo
• Expected delta: +$528/yr (+$44/mo · 379.9%)

ⓘ 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: $16,656
• − Mortgage interest: −$3,809
• − Property taxes: −$139
• − Insurance: −$340
• − Repairs & maintenance: −$1,332
• − Management: −$1,332
• − Depreciation: −$1,978
• Taxable income: $7,725
• Est. tax owed @ 24.0%: −$1,854
• After-tax cash flow: $6,546/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

+240.9% since first listed

9 events — show timeline

• 2026-06-15 Price Changed $68,000 NWMLS as Distributed by MLS Grid
• 2026-05-12 Price Changed $74,000 NWMLS as Distributed by MLS Grid
• 2026-04-29 Listed $79,000 NWMLS as Distributed by MLS Grid
• 2014-08-05 Sold (MLS) $18,000 NWMLS as Distributed by MLS Grid
• 2014-07-18 Pending — NWMLS as Distributed by MLS Grid
• 2014-07-07 Listed $18,000 NWMLS as Distributed by MLS Grid
• 2001-07-19 Sold (Public Records) $17,950 Public Records
• 2001-07-10 Delisted — NWMLS as Distributed by MLS Grid
• 2001-03-16 Listed $19,950 NWMLS as Distributed by MLS Grid

Property tax history

+21.2%/yr

Latest (2026): $139 · +0.0% YoY. Source: county tax records.