455 9th St NE #52

East Wenatchee, WA 98802

$75,000B-

2 bd · 1.0 ba · 924 sqft · Built 1978 · Manufactured · Pending · 84 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,817/mo
• Mortgage (P&I): −$393
• Tax + insurance: −$58
• HOA: −$0
• Vac / Maint / Mgmt: −$382
• Net cashflow: $985/mo
• Annual: $11,815/yr
• Cap rate: 22.05%
• Cash-on-cash: 56.26%
• DSCR: 3.50
• 1% rule: 2.42%
• Cash to close: $21,000

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $75k.
• At list price, monthly cash flow is $985 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $75k).
• It's been on market 84 days — a 6% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $70k (6.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $519 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 83/100 on livability (#54 in WA, #972 nationally) — a professional / high-income tenant draw. Strengths: commute A+, housing A+, health & safety A+.
• Eastmont School District (suburban): math 45% / reading 60% proficiency, ranked #118 of 291 in WA (top 40%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Lee Elementary (541 students, 72% FRL); Eastmont Senior High (1,454 students, 62% FRL) — zoned schools average 67% FRL vs 48% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+1.5%/yr); 326 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 263 units permitted in Douglas County in 2024 (0 in 5+ unit buildings).
• Douglas County population projected at +22% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 3 sale attempts since 2y ago; this cycle's ask has dropped $11k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (-3.0% appreciation + 1.5% rent growth), your $21k cash investment doubles in ~3 years — after that, you're playing with house money.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.
• Cap rate 22.0% vs local median 2.8% in East Wenatchee — 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.

Questions for listing agent

• It's been on market 84 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.
• 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.
• 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.