3601 Castlevale Rd #38 · Yakima, WA 98902

$49,950

2 bd · 2.0 ba · 980 sqft · SingleFamily public records · 79 Days on market

Built 1977 $51/sqft · 15% below area Est $58k · 15% under ↓ 7% since listing

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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
• ARV discount +14.1/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +4.0/5.0
• Rent growth +3.8/5.0
• Schools +3.4/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Clean and inviting 2-bedroom, 2 full bathroom, 980 sq. ft. single-wide manufactured home located in the 55+ Laura Lee Mobile Home Park. Conveniently situated close to shopping, dining, public transportation, and Chesterly Park. This well-maintained home offers a comfortable and functional layout with a welcoming feel throughout. Enjoy the outdoors from two decks, perfect for relaxing with a cup of coffee and taking in the beautiful seasons the Yakima Valley has to offer. The home also includes a storage unit for added convenience.

Key facts

• Two decks
• Storage unit
• Garage

Tags

• TWO DECKS
• STORAGE UNIT

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $839 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• Recommended offer: $47k (6.0% below list) — sets the bar for market timing.
• Cap rate 26.5% vs local median 3.4% in Yakima — 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 80/100 on livability (#98 in WA, #1,912 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, housing A+; Watch: employment D, crime F.
• Yakima School District (urban): math 34% / reading 42% proficiency, ranked #238 of 291 in WA (top 82%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 76% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+5.1%/yr); 185 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 $346 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 + 5.1% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 79 days — a 6% lower offer ($47k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $8k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

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

Recommended offer $46,953 (6.0% below list)

Questions for the listing agent

1. It's been on market 79 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 2.89% ✓
• Cap rate: 26.46%
• Cash-on-cash: 72.03%
• DSCR: 4.20
• GRM: 2.9

CMA / ARV

• ARV (median comp): $58,477
• List price: $49,950
• Delta: -14.58%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
404 N 39th Ave	0.67mi	2/1.0	1,008 (+3%)	2mo	$219,500	$218	58
921 N 29th Ave	0.55mi	3/2.0 (+1)	1,040 (+6%)	11mo	$284,900	$274	50
3001 Powerhouse Rd	0.61mi	2/1.5	1,057 (+8%)	24mo	$275,000	$260	37
813 N 26th Ave	0.74mi	3/1.0 (+1)	1,064 (+9%)	14mo	$282,500	$266	30

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 · 5.07% rent growth · sell at horizon

5-year hold

• IRR: 73.9%
• Equity multiple: 4.46×
• Total profit: $48,439
• Equity at exit: $7,448

10-year hold

• IRR: 78.3%
• Equity multiple: 9.88×
• Total profit: $124,157
• Equity at exit: $4,319

Cash invested: $13,986 (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 98902

• Rents YoY: 5.1%
• Active inventory: 185
• Price-to-rent: 2.9×

Monthly cashflow live

• Estimated rent: $1,445 high
• Mortgage (P&I): −$262
• Tax from tax record: −$19 /mo · $233/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$303
• Net cashflow: $839

Break-even live

Break-even rent $382

Max offer price $49,950

Occupancy floor 37%

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: $12,488
• Closing costs: $1,498
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
Cascade Loop Yakima, WA	2.0	1.0	1030	$1,800	$1.75	13d	1	0.19mi
3413 Cascade Loop Yakima, WA	2.0	1.0	1000	$1,825	$1.82	13d	1	0.20mi
3601 Fairbanks Ave Yakima, WA	1.0	1.0	672	$876	$1.30	13d	14	0.42mi
2605 W Lincoln Ave Yakima, WA	3.0	1.0	990	$1,600	$1.62	44d	1	0.99mi
4004 W Walnut St Apt 4 Yakima, WA	2.0	1.0	763	$1,225	$1.61	21d	1	1.37mi
4004 W Walnut St Yakima, WA	2.0	1.0	763	$1,212	$1.59	13d	3	1.37mi
4004 W Walnut St Apt 16 Yakima, WA	2.0	1.0	763	$1,225	$1.61	44d	1	1.37mi
1509 Swan Ave Yakima, WA	3.0	2.0	1108	$1,400	$1.26	44d	1	1.42mi
4004 Bell Ave Yakima, WA	2.0	1.0	825	$1,195	$1.45	13d	2	1.43mi

Listing history 14 events

1. 2026-06-10
   status $49,950 Pending 79 DOM
2. 2026-06-09
   days on market $49,950 Active 79 DOM
3. 2026-06-08
   days on market $49,950 Active 78 DOM
4. 2026-06-07
   days on market $49,950 Active 77 DOM
5. 2026-06-05
   days on market $49,950 Active 74 DOM
6. 2026-06-03
   days on market $49,950 Active 73 DOM
7. 2026-06-02
   days on market $49,950 Active 72 DOM
8. 2026-06-01
   days on market $49,950 Active 71 DOM
9. 2026-05-31
   days on market $49,950 Active 70 DOM
10. 2026-05-30
    days on market $49,950 Active 69 DOM
11. 2026-05-07
    price $54,000 536-char remark

    Show marketing remark (536 chars)

    Clean and inviting 2-bedroom, 2 full bathroom, 980 sq. ft. single-wide manufactured home located in the 55+ Laura Lee Mobile Home Park. Conveniently situated close to shopping, dining, public transportation, and Chesterly Park. This well-maintained home offers a comfortable and functional layout with a welcoming feel throughout. Enjoy the outdoors from two decks, perfect for relaxing with a cup of coffee and taking in the beautiful seasons the Yakima Valley has to offer. The home also includes a storage unit for added convenience.

12. 2026-05-04
    status Active 536-char remark

    Show marketing remark (536 chars)

    Clean and inviting 2-bedroom, 2 full bathroom, 980 sq. ft. single-wide manufactured home located in the 55+ Laura Lee Mobile Home Park. Conveniently situated close to shopping, dining, public transportation, and Chesterly Park. This well-maintained home offers a comfortable and functional layout with a welcoming feel throughout. Enjoy the outdoors from two decks, perfect for relaxing with a cup of coffee and taking in the beautiful seasons the Yakima Valley has to offer. The home also includes a storage unit for added convenience.

13. 2026-04-28
    status Pending 536-char remark

    Show marketing remark (536 chars)

    Clean and inviting 2-bedroom, 2 full bathroom, 980 sq. ft. single-wide manufactured home located in the 55+ Laura Lee Mobile Home Park. Conveniently situated close to shopping, dining, public transportation, and Chesterly Park. This well-maintained home offers a comfortable and functional layout with a welcoming feel throughout. Enjoy the outdoors from two decks, perfect for relaxing with a cup of coffee and taking in the beautiful seasons the Yakima Valley has to offer. The home also includes a storage unit for added convenience.

14. 2026-03-16
    listed $58,000 Active 536-char remark

    Show marketing remark (536 chars)

    Clean and inviting 2-bedroom, 2 full bathroom, 980 sq. ft. single-wide manufactured home located in the 55+ Laura Lee Mobile Home Park. Conveniently situated close to shopping, dining, public transportation, and Chesterly Park. This well-maintained home offers a comfortable and functional layout with a welcoming feel throughout. Enjoy the outdoors from two decks, perfect for relaxing with a cup of coffee and taking in the beautiful seasons the Yakima Valley has to offer. The home also includes a storage unit for added convenience.

ⓘ 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: $233 · $19/mo
• Projected year-2 tax: $490 · $41/mo
• Expected delta: +$257/yr (+$21/mo · 110.5%)

ⓘ 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 5/10 Major
• 🌡 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 14 unhealthy d/yr today · 16 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,341
• − Mortgage interest: −$2,798
• − Property taxes: −$233
• − Insurance: −$250
• − Repairs & maintenance: −$1,387
• − Management: −$1,387
• − Depreciation: −$1,453
• Taxable income: $9,833
• Est. tax owed @ 24.0%: −$2,360
• After-tax cash flow: $7,714/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: Yakima School District
• NCES district ID: 5310110
• Math proficiency: 34% ▼ -1.00%
• Reading proficiency: 42% ▬ 0.00%
• Median HH income: $36,538
• Composite: 34.04/100
• National rank: #10305
• State rank: #238 of 291 in WA

Livability — Yakima

• Score: 80/100
• State rank: #98
• US rank: #1912

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Yakima, WA
• County: Yakima County · 134,789 people
• City population: 115,918
• Metro: Yakima, WA
• Population (ZIP): 46,492
• Household income: $63,092
• Rent vs Own: 49.1% rent · 50.9% own
• Severe rent burden: 1607.0

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: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: Hispanic / Latino 50% White 40% Two or more races 24% Black 2% Pacific Islander 2% Native American 1% Asian 1%
• Hispanic origin (detail): Mexican 44%
• Common ancestry: Lithuanian 2% Slovak 1% Italian 1%
• Foreign-born: 20% · Canada
• Languages at home: 60% English-only · Spanish 37% Other Asian/Pacific 1%

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: ▼ -363.66%
• Current HPI: 294.559
• Rent YoY: ▲ 5.07%
• 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

-6.9% since first listed

4 events — show timeline

• 2026-05-07 Price Changed $54,000 YAMLS
• 2026-05-04 Relisted — YAMLS
• 2026-04-28 Pending — YAMLS
• 2026-03-16 Listed $58,000 YAMLS

Property tax history

+4.3%/yr

Latest (2026): $233 · -4.7% YoY. Source: county tax records.