40238 Sr 129

Anatone, WA 99401

$150,000C-

3 bd · 1.0 ba · 1,560 sqft · Built 1900 · SingleFamily · Active · 184 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,363/mo
• Mortgage (P&I): −$787
• Tax + insurance: −$156
• HOA: −$0
• Vac / Maint / Mgmt: −$286
• Net cashflow: $134/mo
• Annual: $1,605/yr
• Cap rate: 7.36%
• Cash-on-cash: 3.82%
• DSCR: 1.17
• 1% rule: 0.91%
• Cash to close: $42,000

Investor read

• This is a 3-bed/1.0-bath single-family listed at $150k.
• At list price, monthly cash flow is $134 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $136k (9.1% below list).
• It's been on market 184 days — a 12% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $132k (12.0% below list) — sets the bar for market timing.
• In year one you build about $6k of equity ($1k loan paydown + $4k appreciation (3.0% local appreciation)).
• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Asotin-Anatone School District (suburban): math 61% / reading 64% proficiency, ranked #44 of 291 in WA (top 15%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 18 active listings in the ZIP; 101 units permitted in Asotin County in 2024 (72 in 5+ unit buildings).
• Asotin County population projected to shrink 3% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 3 sale attempts since 2y 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 $52k; list at $150k implies a 186% gain — meaningful room to come down on a strong offer.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $42k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• It's been on market 184 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1900 — 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.