235 S Main St

Washtucna, WA 99371

$119,000B

2 bd · 1.0 ba · 938 sqft · Built 1950 · SingleFamily · Active · 46 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,500/mo
• Mortgage (P&I): −$624
• Tax + insurance: −$591
• HOA: −$0
• Vac / Maint / Mgmt: −$315
• Net cashflow: $-30/mo
• Annual: $-363/yr
• Cap rate: 10.63%
• Cash-on-cash: 15.49%
• DSCR: 1.69
• 1% rule: 1.26%
• Cash to close: $33,320

Investor read

• This is a 2-bed/1.0-bath single-family listed at $119k.
• At list price, monthly cash flow is $-30 ($-363/yr) — negative.
• To cash-flow at today's rent, offer at most $114k (4.5% below list).
• Meets the 1% rule at list price ($2k rent vs $119k).
• It's been on market 46 days — a 3% lower offer ($115k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $114k (4.5% below list) — sets the bar for cash-flow.
• In year one you build about $4k of equity ($823 loan paydown + $4k appreciation (3.0% local appreciation)).
• Location reads 62/100 on livability (#426 in WA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A-; Watch: health & safety C-, schools D, crime F.
• Washtucna School District (rural): math 20% / reading 50% proficiency, ranked #249 of 291 in WA (top 86%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: flood insurance adds $460/mo; built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 7 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 49 units permitted in Adams County in 2024 (0 in 5+ unit buildings).
• Adams County population projected at +8% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 2 sale attempts since 9y ago; this cycle's ask has dropped $61k (34%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $15k; list at $119k implies a 693% gain — meaningful room to come down on a strong offer.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $33k cash investment doubles in ~7 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 46 days. Have you received any prior offers? Is the seller open to a 4% concession, seller financing, or rate buy-down credit?
• Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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.