2240 W Broadway Ave #209 · Moses Lake, WA 98837

$130,000

3 bd · 2.0 ba · 1,296 sqft · Manufactured public records · 21 Days on market

Built 1987 Est $123k · 6% 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
• DSCR +10.0/10.0
• 1% rule +7.8/10.0
• ARV discount +5.0/15.0
• Schools +3.9/10.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this beautifully updated 3-bedroom, 1.75-bath double wide located in a friendly, sought after 55+ community in Moses Lake. The home features updates throughout including an inviting kitchen, with a functional layout, come and make yourself at home! Enjoy a bright kitchen, generous living areas, and a convenient primary suite with an attached bath. Outside, the fully landscaped yard, deck, patio and 10'x12' storage shed with heat and A/C welcome you to the outdoors. Exterior features a newer roof, newer windows and a recent paint job. There is also boat/RV storage yard at the Park. This home is ready to welcome you!

Key facts

• Newer roof
• Storage shed
• Landscaped yard

Tags

• UPDATED KITCHEN
• LANDSCAPED YARD
• DECK
• PATIO
• STORAGE SHED
• NEWER ROOF

Property features AI

Finance

• Other: Property condition rated very good; Calculated living area 1,296
• Financial info: Listing terms: Cash or Conventional
• HOA & community: Located in Broadway Estates (senior community); Park approved for sale; Park amenities include recreational area and RV parking; Monthly land lease

Exterior

• Parking: Carport; RV parking available in park
• Utilities: Public water; Public sewer; Electric power; Electric water heater
• Home design: Manufactured double-wide home (Marlette Pendleton); One story; East-facing
• Construction: Wood construction; Composition roof; Mobile home remains on site; Manufactured after 6/15/1976
• Exterior features: Wood exterior; Patio/porch/deck; Landscaped; Paved lot; Has view

Interior

• Kitchen: Dishwasher; Garbage disposal; Refrigerator; Stove/Range
• Bedrooms: 3 bedrooms
• Flooring: Ceramic tile; Laminate
• Bathrooms: 1 full bath; 1 three-quarter bath; 1 bathtub; 2 showers
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Water heater; Ceiling fan(s); Vaulted ceilings; Double pane windows
• Laundry & utility: Utility room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $130k.

Deal economics

• At list price, monthly cash flow is $528 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Recommended offer: $128k (1.5% below list) — sets the bar for market timing.
• Cap rate 11.2% 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-, schools D+, crime 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.
• Market conditions: Rents soft (-1.7%/yr); 585 active listings in the ZIP; 29 comparable units currently listed for rent nearby; rentals lingering (median 44d 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 $899 of loan paydown is wiped out by about $4k 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 $36k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($128k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 21y 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.
• Current owner paid $31k; list at $130k implies a 319% gain — meaningful room to come down on a strong offer.

Recommended offer $128,050 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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?
4. 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.
5. 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.
6. 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: 1.28% ✓
• Cap rate: 11.16%
• Cash-on-cash: 17.40%
• DSCR: 1.77
• GRM: 6.5

CMA / ARV

• ARV (on-the-fly): $123,120
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2240 W Broadway Ave #129	0.00mi	2/2.0 (-1)	1,296 (0%)	2mo	$135,000	$104	94
2240 W Broadway Ave #25	0.00mi	3/2.0	1,248 (-4%)	9mo	$118,000	$95	87
2240 W Broadway Ave #22	0.00mi	3/2.0	1,248 (-4%)	9mo	$85,000	$68	87
2240 W Broadway Ave #204	0.00mi	3/2.0	1,200 (-7%)	3mo	$92,000	$77	85
2240 W Broadway Ave #240	0.00mi	3/2.0	1,440 (+11%)	16mo	$120,000	$83	68
1807 W Bemis St	0.19mi	3/2.0	1,200 (-7%)	14mo	$260,000	$217	67

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: 5.6%
• Equity multiple: 1.21×
• Total profit: $7,610
• Equity at exit: $19,383

10-year hold

• IRR: 12.3%
• Equity multiple: 1.85×
• Total profit: $30,831
• Equity at exit: $11,240

Cash invested: $36,400 (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: 585
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $1,669 high
• Mortgage (P&I): −$682
• Tax from tax record: −$55 /mo · $663/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$351
• Net cashflow: $528

Break-even live

Break-even rent $1,002

Max offer price $130,000

Occupancy floor 63%

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Rent comps 29 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	43d	1	0.13mi
1701 W Crouse St Moses Lake, WA	1.0–3.0	1.0–2.0	1017	$1,650	$1.62	43d	6	0.27mi
1709 W Fern Dr Apt C Moses Lake, WA	2.0	1.5	1390	$1,300	$0.94	43d	1	0.31mi
2625 W Marina Dr Unit 4 Moses Lake, WA	2.0	2.5	1300	$1,500	$1.15	43d	1	0.52mi
2625 W Marina Dr Unit 5 Moses Lake, WA	3.0	2.5	1300	$1,795	$1.38	43d	1	0.52mi
2625 W Marina Dr Unit 3 Moses Lake, WA	2.0	2.5	1350	$1,700	$1.26	43d	1	0.52mi
1717 W Lakeside Dr Moses Lake, WA	3.0	1.5	1554	$3,000	$1.93	43d	1	0.52mi
2637 W Marina Dr Moses Lake, WA	2.0	2.5	1340	$1,600	$1.19	43d	1	0.52mi
2805 W Marina Dr Unit A3 Moses Lake, WA	2.0	2.5	1350	$1,450	$1.07	43d	1	0.65mi
2812 W Marina Dr Unit D Moses Lake, WA	2.0	2.0	1078	$1,695	$1.57	43d	1	0.66mi
2821 W Marina Dr Unit 1 Moses Lake, WA	2.0	2.5	1200	$1,550	$1.29	43d	1	0.68mi
2821 W Marina Dr Unit 5 Moses Lake, WA	3.0	2.5	1300	$1,650	$1.27	43d	1	0.68mi
2829 W Marina Dr Unit 6 Moses Lake, WA	2.0	2.5	1200	$1,550	$1.29	43d	1	0.70mi
2829 W Marina Dr Unit 1 Moses Lake, WA	3.0	2.5	1300	$1,650	$1.27	43d	1	0.70mi
511 S Interlake Rd Moses Lake, WA	2.0–4.0	2.0	1095	$1,170	$1.07	43d	8	0.73mi
2900 W Marina Dr Moses Lake, WA	2.0	2.0	1036	$1,688	$1.63	43d	1	0.77mi
1211 W Ivy Ave Unit 203 Moses Lake, WA	2.0	1.0	900	$1,250	$1.39	43d	1	0.90mi
8328 Road 2.4 NE Moses Lake, WA	3.0	2.0	1749	$2,295	$1.31	43d	1	0.90mi
1205 W Ivy Ave Unit 101 Moses Lake, WA	2.0	1.0	900	$1,150	$1.28	43d	1	0.90mi
1206 W Columbia Ave Unit D Moses Lake, WA	2.0	1.0	900	$1,295	$1.44	43d	1	0.93mi
3013 W Lakeside Dr Unit 5 Moses Lake, WA	3.0	2.0	1700	$2,400	$1.41	43d	1	0.96mi
1137 W Lakeside Dr Moses Lake, WA	2.0	1.0	1286	$1,495	$1.16	43d	1	1.11mi
310 N Crestview Dr Unit B Moses Lake, WA	3.0	1.0	1573	$1,875	$1.19	43d	1	1.16mi
215 N Wellington St Moses Lake, WA	3.0	2.0	1550	$2,200	$1.42	43d	1	1.38mi
1330 S Skyline Dr Unit D Moses Lake, WA	2.0	1.5	1400	$1,450	$1.04	43d	1	1.45mi
1330 S Skyline Dr Moses Lake, WA	2.0	1.0	1400	$1,450	$1.04	43d	1	1.45mi
1326 S Skyline Dr Unit C Moses Lake, WA	2.0	1.5	1400	$1,450	$1.04	43d	1	1.46mi
1326 S Skyline Dr Moses Lake, WA	2.0	1.5	1400	$1,395	$1.00	43d	1	1.46mi
440 Laguna Dr Moses Lake, WA	3.0	2.0	1594	$1,800	$1.13	43d	1	1.47mi

Listing history 24 events

1. 2026-06-19
   days on market $130,000 Active 21 DOM
2. 2026-06-18
   days on market $130,000 Active 20 DOM
3. 2026-06-17
   days on market $130,000 Active 19 DOM
4. 2026-06-16
   days on market $130,000 Active 18 DOM
5. 2026-06-15
   days on market $130,000 Active 17 DOM
6. 2026-06-14
   days on market $130,000 Active 15 DOM
7. 2026-06-13
   days on market $130,000 Active 14 DOM
8. 2026-06-10
   days on market $130,000 Active 12 DOM
9. 2026-06-09
   days on market $130,000 Active 11 DOM
10. 2026-06-08
    days on market $130,000 Active 10 DOM
11. 2026-06-07
    days on market $130,000 Active 9 DOM
12. 2026-06-05
    days on market $130,000 Active 6 DOM
13. 2026-06-03
    days on market $130,000 Active 5 DOM
14. 2026-06-02
    days on market $130,000 Active 4 DOM
15. 2026-06-01
    days on market $130,000 Active 3 DOM
16. 2026-05-31
    days on market $130,000 Active 2 DOM
17. 2026-05-29
    listed $130,000 Active
18. 2014-10-08
    soldstatus $31,000 Sold
19. 2014-09-29
    status Pending
20. 2014-09-24
    price $33,900
21. 2014-09-17
    price $36,900
22. 2014-08-28
    listed $39,900 Active
23. 2005-12-15
    soldstatus $36,000
24. 2005-08-10
    listed $41,500

ⓘ 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: $663 · $55/mo
• Projected year-2 tax: $1,274 · $106/mo
• Expected delta: +$611/yr (+$51/mo · 92.0%)

ⓘ 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: $20,034
• − Mortgage interest: −$7,282
• − Property taxes: −$663
• − Insurance: −$650
• − Repairs & maintenance: −$1,603
• − Management: −$1,603
• − Depreciation: −$3,782
• Taxable income: $4,451
• Est. tax owed @ 24.0%: −$1,068
• After-tax cash flow: $5,264/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

+213.3% since first listed

8 events — show timeline

• 2026-05-29 Listed $130,000 NWMLS as Distributed by MLS Grid
• 2014-10-08 Sold (MLS) $31,000 NWMLS as Distributed by MLS Grid
• 2014-09-29 Pending — NWMLS as Distributed by MLS Grid
• 2014-09-24 Price Changed $33,900 NWMLS as Distributed by MLS Grid
• 2014-09-17 Price Changed $36,900 NWMLS as Distributed by MLS Grid
• 2014-08-28 Listed $39,900 NWMLS as Distributed by MLS Grid
• 2005-12-15 Sold (MLS) $36,000 NWMLS as Distributed by MLS Grid
• 2005-08-10 Listed $41,500 NWMLS as Distributed by MLS Grid

Property tax history

+24.4%/yr

Latest (2026): $663 · +0.0% YoY. Source: county tax records.