2284 W Rainier Rd · Othello, WA 99344

$135,000

2 bd · 2.0 ba · 960 sqft · Manufactured public records · 3 Days on market

Built 1969 0.99 ac lot

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Why this score? — see what drove the C+ 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 +27.3/30.0
• DSCR +9.5/10.0
• ARV discount +7.5/15.0
• 1% rule +6.9/10.0
• Livability +3.4/5.0
• Schools +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This property offers space, flexibility, and a strong upside for potential. It features a skyline double wide manufactured home and a detached shop ideal for storage, hobbies, or a workspace needs. The home requires renovation, making this a great property for investors or buyers ready to build equity. Served by a shared well and irrigation water, the lot provides ample room for RV parking, gardening, outdoor projects, or future improvements. Enjoy a quiet setting just outside of town with convenient access to local amenities.

Key facts

• Quiet setting
• Detached shop
• Irrigation water

Tags

• DETACHED SHOP
• SHARED WELL
• IRRIGATION WATER
• AMPLE ROOM FOR RV PARKING
• QUIET SETTING

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $135k.

Deal economics

• At list price, monthly cash flow is $389 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $135k).
• Cap rate 9.8% vs local median 2.7% in Othello — 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 67/100 on livability (#312 in WA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime D, amenities F, commute F.
• Othello School District (town): math 33% / reading 35% proficiency, ranked #257 of 291 in WA (top 88%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Othello High School (1,333 students, 82% FRL).
• Market conditions: 87 active listings in the ZIP; 49 units permitted in Adams County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $933 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Adams County population projected at +8% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $38k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

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

Recommended offer $135,000

Questions for the listing agent

1. Built in 1969 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 D 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: 1.19% ✓
• Cap rate: 9.75%
• Cash-on-cash: 12.36%
• DSCR: 1.55
• GRM: 7.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 2.0%
• Equity multiple: 1.08×
• Total profit: $2,916
• Equity at exit: $20,129

10-year hold

• IRR: 11.6%
• Equity multiple: 1.91×
• Total profit: $34,446
• Equity at exit: $11,672

Cash invested: $37,800 (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 99344

• Active inventory: 87
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,611 medium
• Mortgage (P&I): −$708
• Tax from tax record: −$119 /mo · $1,430/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$338
• Net cashflow: $389

Break-even live

Break-even rent $1,118

Max offer price $135,000

Occupancy floor 71%

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-02-22
   status Pending
2. 2026-02-19
   listed $135,000 Active

ⓘ 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: $1,430 · $119/mo
• Projected year-2 tax: $1,430 · $119/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 8/10 Severe
• 🌡 Heat 4/10 Moderate 7 d/yr ≥97°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 9/10 Extreme 18 unhealthy d/yr today · 18 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,332
• − Mortgage interest: −$7,562
• − Property taxes: −$1,430
• − Insurance: −$675
• − Repairs & maintenance: −$1,547
• − Management: −$1,547
• − Depreciation: −$3,927
• Taxable income: $2,645
• Est. tax owed @ 24.0%: −$635
• After-tax cash flow: $4,037/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: Othello School District
• NCES district ID: 5306480
• Math proficiency: 33% ▼ -3.00%
• Reading proficiency: 35% ▼ -1.00%
• Median HH income: $43,296
• Composite: 31.55/100
• National rank: #11156
• State rank: #257 of 291 in WA

Livability — Othello

• Score: 67/100
• State rank: #312
• US rank: #11063

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 19,458
• Population (ZIP): 19,458

Population outlook (Adams County) Hauer SSP2

• Today (2025): 19,554 people
• By 2030: 19,746 · +1.0%
• By 2040: 20,362 · +4.1%
• By 2050: 21,026 · +7.5%
• By 2075: 22,272 · +13.9%
• By 2100: 22,737 · +16.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Hispanic (73%)
• Race & ethnicity: Hispanic / Latino 73% White 25% Two or more races 21% Native American 3%
• Hispanic origin (detail): Mexican 68%
• Common ancestry: Portuguese 2% Lithuanian 1% Italian 1%
• Foreign-born: 27% · Canada
• Languages at home: 40% English-only · Spanish 59%

Political lean MEDSL · Adams

• 2024 margin: Solid R (+43.3) · D 27.2% · R 70.5% · Other 2.3%
• 2008→2024 swing: -8.9pp toward R · 2008: -34.4pp · 2024: -43.3pp
• All cycles: 2024: R+43.3 2020: R+35.7 2016: R+39.7 2012: R+33.9 2008: R+34.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -401.63%
• Current HPI: 212.6444
• Rent YoY: —
• Metro: —
• 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

2 events — show timeline

• 2026-02-22 Pending — NWMLS as Distributed by MLS Grid
• 2026-02-19 Listed $135,000 NWMLS as Distributed by MLS Grid

Property tax history

+3.8%/yr

Latest (2026): $1,430 · -1.9% YoY. Source: county tax records.