2205 Butterfield Rd #241 · Terrace Heights, WA 98901

$49,000

2 bd · 1.0 ba · 812 sqft · SingleFamily public records · 133 Days on market

Built 1980 $60/sqft · 36% above area Est $36k · 36% over

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +5.1/10.0
• Rent growth +4.8/5.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Cozy 2 Bed 1 Bath in Skyline Estates - all ages welcome. This home offers a functional layout, comfortable living space and access to shopping. Tucked in the Terrace Heights community this home offers affordable living in a great area.

Key facts

• Access to shopping
• Functional layout
• Built 1980

Tags

• FUNCTIONAL LAYOUT
• COMFORTABLE LIVING SPACE
• ACCESS TO SHOPPING
• TERRACE HEIGHTS COMMUNITY

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $49k.

Deal economics

• At list price, monthly cash flow is $438 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($921 rent vs $49k).
• Recommended offer: $43k (12.0% below list) — sets the bar for market timing.
• Cap rate 17.0% vs local median 2.7% in Terrace Heights — 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 72/100 on livability (#210 in WA) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, employment A; Watch: schools D, amenities F, commute F.
• East Valley School District (Yakima) (suburban): math 54% / reading 61% proficiency, ranked #76 of 291 in WA (top 26%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+9.3%/yr); 168 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); 468 units permitted in Yakima County in 2024 (23 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $339 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Yakima County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $14k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 133 days — a 12% lower offer ($43k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $6k; list at $49k implies a 654% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major flood risk; major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $43,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 133 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 1.88% ✓
• Cap rate: 17.03%
• Cash-on-cash: 38.34%
• DSCR: 2.71
• GRM: 4.4

CMA / ARV

• ARV (median comp): $36,055
• List price: $49,000
• Delta: 35.90%
• Verdict: OVERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 39.7%
• Equity multiple: 2.81×
• Total profit: $24,831
• Equity at exit: $7,306

10-year hold

• IRR: 48.3%
• Equity multiple: 6.81×
• Total profit: $79,666
• Equity at exit: $4,237

Cash invested: $13,720 (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 98901

• Home prices YoY: -33.4%
• Rents YoY: 9.3%
• Active inventory: 168
• Price-to-rent: 4.4×

Monthly cashflow live

• Estimated rent: $921 high
• Mortgage (P&I): −$257
• Tax from tax record: −$12 /mo · $145/yr
• Insurance: −$20
• HOA: −$0
• Vacancy / Maint / Mgmt: −$193
• Net cashflow: $438

Break-even live

Break-even rent $366

Max offer price $49,000

Occupancy floor 47%

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: $12,250
• Closing costs: $1,470
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1205 E Spruce St Yakima, WA	2.0–4.0	2.0	1023	$950	$0.93	13d	1	1.16mi
20 S Fair Ave Unit 2 Yakima, WA	1.0	1.0	752	$850	$1.13	13d	1	1.21mi
201 N 10th St Unit 11 Yakima, WA	1.0	1.0	550	$950	$1.73	13d	1	1.24mi
201 N 10th St Yakima, WA	1.0	1.0	550	$950	$1.73	44d	2	1.24mi
201 N 10th St Unit 13 Yakima, WA	1.0	1.0	550	$900	$1.64	13d	1	1.24mi
106 S 10th St Unit 106-2 Yakima, WA	1.0	1.0	528	$850	$1.61	21d	1	1.32mi
106 S 10th St Unit 108-9 Yakima, WA	1.0	1.0	528	$850	$1.61	44d	1	1.32mi
1017 E Spruce St Unit 1017 1/2 Yakima, WA	1.0	1.0	875	$825	$0.94	13d	1	1.33mi
115 S Union St Unit D-2 Yakima, WA	1.0	1.0	643	$950	$1.48	13d	1	1.40mi

Listing history 19 events

1. 2026-06-19
   days on market $49,000 Active 133 DOM
2. 2026-06-18
   days on market $49,000 Active 132 DOM
3. 2026-06-17
   days on market $49,000 Active 131 DOM
4. 2026-06-16
   days on market $49,000 Active 130 DOM
5. 2026-06-15
   days on market $49,000 Active 129 DOM
6. 2026-06-14
   days on market $49,000 Active 127 DOM
7. 2026-06-13
   days on market $49,000 Active 126 DOM
8. 2026-06-10
   days on market $49,000 Active 124 DOM
9. 2026-06-09
   days on market $49,000 Active 123 DOM
10. 2026-06-08
    days on market $49,000 Active 122 DOM
11. 2026-06-07
    days on market $49,000 Active 121 DOM
12. 2026-06-03
    days on market $49,000 Active 117 DOM
13. 2026-06-02
    days on market $49,000 Active 116 DOM
14. 2026-06-01
    days on market $49,000 Active 115 DOM
15. 2026-05-31
    days on market $49,000 Active 114 DOM
16. 2026-05-30
    days on market $49,000 Active 113 DOM
17. 2026-04-06
    price $49,000 235-char remark

    Show marketing remark (235 chars)

    Cozy 2 Bed 1 Bath in Skyline Estates - all ages welcome. This home offers a functional layout, comfortable living space and access to shopping. Tucked in the Terrace Heights community this home offers affordable living in a great area.

18. 2026-02-07
    listed $53,000 Active 235-char remark

    Show marketing remark (235 chars)

    Cozy 2 Bed 1 Bath in Skyline Estates - all ages welcome. This home offers a functional layout, comfortable living space and access to shopping. Tucked in the Terrace Heights community this home offers affordable living in a great area.

19. 1990-09-10
    soldstatus $6,500

ⓘ 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: $145 · $12/mo
• Projected year-2 tax: $480 · $40/mo
• Expected delta: +$335/yr (+$28/mo · 230.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 27% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 4/10 Moderate 7 d/yr ≥96°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 9/10 Extreme 16 unhealthy d/yr today · 19 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,056
• − Mortgage interest: −$2,745
• − Property taxes: −$145
• − Insurance: −$245
• − Repairs & maintenance: −$884
• − Management: −$884
• − Depreciation: −$1,425
• Taxable income: $4,726
• Est. tax owed @ 24.0%: −$1,134
• After-tax cash flow: $4,126/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: East Valley School District (Yakima)
• NCES district ID: 5305370
• Math proficiency: 54% ▲ 1.00%
• Reading proficiency: 61% ▲ 5.00%
• Median HH income: $57,936
• Composite: 51.46/100
• National rank: #3682
• State rank: #76 of 291 in WA

Livability — Terrace Heights

• Score: 72/100
• State rank: #210
• US rank: #5906

Category grades

Amenities F Commute F Cost of living B- Crime C Employment A Housing A+ Health & safety A+ User ratings B

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Terrace Heights, WA
• County: Yakima County · 134,789 people
• Metro: Yakima, WA
• Population (ZIP): 31,366
• Household income: $57,392
• Rent vs Own: 50.0% rent · 50.0% own
• Severe rent burden: 1317.0

Population outlook (Yakima County) Hauer SSP2

• Today (2025): 256,514 people
• By 2030: 259,403 · +1.1%
• By 2040: 265,677 · +3.6%
• By 2050: 273,061 · +6.5%
• By 2075: 296,991 · +15.8%
• By 2100: 315,291 · +22.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority Hispanic (54%)
• Race & ethnicity: Hispanic / Latino 54% White 39% Two or more races 22% Native American 3% Black 1%
• Hispanic origin (detail): Mexican 49%
• Common ancestry: Italian 3% Lithuanian 2% Scottish 1%
• Foreign-born: 20% · Canada
• Languages at home: 53% English-only · Spanish 46%

Political lean MEDSL · Yakima

• 2024 margin: R (+14.3) · D 41.6% · R 55.9% · Other 2.5%
• 2008→2024 swing: -3.8pp toward R · 2008: -10.6pp · 2024: -14.3pp
• All cycles: 2024: R+14.3 2020: R+7.7 2016: R+15.4 2012: R+15.1 2008: R+10.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -144.24%
• Current HPI: 287.8283
• Rent YoY: ▲ 9.31%
• Metro: Yakima, 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

+653.8% since first listed

3 events — show timeline

• 2026-04-06 Price Changed $49,000 YAMLS
• 2026-02-07 Listed $53,000 YAMLS
• 1990-09-10 Sold (Public Records) $6,500 Public Records

Property tax history

+4.5%/yr

Latest (2026): $145 · +2.8% YoY. Source: county tax records.