887 1st Ave S · Okanogan, WA 98840

$89,000

2 bd · 1.0 ba · 773 sqft · SingleFamily public records · 98 Days on market

Built 1910 5,227 sqft lot $115/sqft · 50% below area

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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
• ARV discount +7.5/15.0
• Schools +4.2/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

The home is offered for sale "As-Is. " Two bedroom, one bathroom home located in Okanogan, WA. Clean and freshly painted throughout interior. New flooring. Needs some upgrades. Would be a great rental investment or starter home. This home is located in town, with the convenience of nearby highway access, shopping stores and restaurants! Owner Financing available for buyer with excellent credit.

Key facts

• Shopping stores
• New flooring
• Freshly painted

Tags

• FRESHLY PAINTED
• NEW FLOORING
• NEARBY HIGHWAY ACCESS
• SHOPPING STORES
• RESTAURANTS

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $89k.

Deal economics

• At list price, monthly cash flow is $146 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $89k).
• Recommended offer: $81k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 68/100 on livability (#267 in WA) — a middle-class / working-renter tenant base. Strengths: housing A+, crime A-, cost of living A-; Watch: schools C-, health & safety C-, amenities F.
• Okanogan School District (town): math 40% / reading 55% proficiency, ranked #173 of 291 in WA (top 60%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 63 active listings in the ZIP; 234 units permitted in Okanogan County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $615 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Okanogan County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 98 days — a 9% lower offer ($81k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $17k; list at $89k implies a 424% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wildfire risk; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $80,990 (9.0% below list)

Questions for the listing agent

1. It's been on market 98 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.63% ✓
• Cap rate: 14.01%
• Cash-on-cash: 27.55%
• DSCR: 2.23
• GRM: 5.1

CMA / ARV

• ARV (median comp): $178,706
• List price: $89,000
• Delta: -50.20%
• Verdict: UNDERPRICED
• Comps: 12 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
887 1st Ave S	0.00mi	2/1.0	773 (0%)	1mo	$85,000	$110	100

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -5.2%
• Equity multiple: 0.80×
• Total profit: $-4,885
• Equity at exit: $13,270

10-year hold

• IRR: 4.7%
• Equity multiple: 1.35×
• Total profit: $8,744
• Equity at exit: $7,695

Cash invested: $24,920 (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 98840

• Home prices YoY: -30.6%
• Active inventory: 63
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $1,451 medium
• Mortgage (P&I): −$467
• Tax from tax record: −$70 /mo · $842/yr
• Insurance: −$37
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$305
• Net cashflow: $146

Break-even live

Break-even rent $1,266

Max offer price $89,000

Occupancy floor 85%

Sensitivity live

Price	-10% $196	-5% $171	+0% $146	+5% $120	+10% $95
Rent	-10% $31	-5% $88	+0% $146	+5% $203	+10% $260
Rate	-1.0pp $190	-0.5pp $168	base $146	+0.5pp $123	+1.0pp $99

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: $22,250
• Closing costs: $2,670
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-05-15
   status Pending
2. 2026-02-06
   listed $89,000 Active
3. 1999-11-12
   soldstatus $17,000

ⓘ 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: $842 · $70/mo
• Projected year-2 tax: $872 · $73/mo
• Expected delta: +$31/yr (+$3/mo · 3.6%)

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

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone AE · 79% chance over 30 yrs
• 🔥 Wildfire 9/10 Extreme
• 🌡 Heat 5/10 Major 7 d/yr ≥93°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 22 unhealthy d/yr today · 23 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,410
• − Mortgage interest: −$4,985
• − Property taxes: −$842
• − Insurance: −$5,564
• − Repairs & maintenance: −$1,393
• − Management: −$1,393
• − Depreciation: −$2,589
• Taxable income: $645
• Est. tax owed @ 24.0%: −$155
• After-tax cash flow: $1,593/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: Okanogan School District
• NCES district ID: 5306150
• Math proficiency: 40% ▲ 7.00%
• Reading proficiency: 55% ▲ 4.00%
• Median HH income: $40,402
• Composite: 41.89/100
• National rank: #7127
• State rank: #173 of 291 in WA

Livability — Okanogan

• Score: 68/100
• State rank: #267
• US rank: #9301

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Okanogan, WA
• Population (ZIP): 5,084

Population outlook (Okanogan County) Hauer SSP2

• Today (2025): 40,288 people
• By 2030: 39,265 · -2.5%
• By 2040: 37,110 · -7.9%
• By 2050: 35,389 · -12.2%
• By 2075: 31,609 · -21.5%
• By 2100: 26,647 · -33.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (71%)
• Race & ethnicity: White 71% Two or more races 18% Hispanic / Latino 13% Native American 5%
• Hispanic origin (detail): Mexican 13%
• Common ancestry: Portuguese 6% Italian 4% Romanian 2%
• Foreign-born: 6% · Canada
• Languages at home: 88% English-only · Spanish 10% Other Indo-European 1% Other Asian/Pacific 1%

Political lean MEDSL · Okanogan

• 2024 margin: R (+15.0) · D 41.1% · R 56.0% · Other 2.9%
• 2008→2024 swing: -8.0pp toward R · 2008: -7.0pp · 2024: -15.0pp
• All cycles: 2024: R+15.0 2020: R+13.8 2016: R+21.3 2012: R+14.8 2008: R+7.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -100.44%
• Current HPI: 228.1084
• 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

+423.5% since first listed

3 events — show timeline

• 2026-05-15 Pending — NWMLS as Distributed by MLS Grid
• 2026-02-06 Listed $89,000 NWMLS as Distributed by MLS Grid
• 1999-11-12 Sold (Public Records) $17,000 Public Records

Property tax history

+4.9%/yr

Latest (2026): $842 · +2.7% YoY. Source: county tax records.