1165 S Grand Ave #41 Ave #41 · Pullman, WA 99163

$69,000

2 bd · 1.0 ba · 600 sqft · Manufactured public records · 9 Days on market

Built 1973

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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 +5.8/10.0
• Livability +4.2/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

MLS# 293709 Looking for an affordable, remodeled home in a prime Pullman location? This charming 2-bedroom, 1-bathroom offers a perfect blend of convenience and comfort. Located just minutes from a bus stop and with low lot rent, this home is ideal for anyone seeking easy, low-maintenance living. Step inside to find a fully remodeled interior with brand new windows, a new furnace, freshly painted walls, new flooring, and updated appliances. New insulation installed ensuring comfort year-round. Enjoy the summer in your own fully fenced yard, complete with a storage shed for added convenience. Additional features include off-street parking and new exterior steps, making this home truly move-i

Key facts

• Updated appliances
• New furnace
• New flooring

Tags

• FULLY REMODELED INTERIOR
• NEW WINDOWS
• NEW FURNACE
• FRESHLY PAINTED WALLS
• NEW FLOORING
• UPDATED APPLIANCES

Property features AI

Finance

• Other: Situated in a mobile home park

Exterior

• Parking: One off-street parking space (covered)
• Utilities: Public water; Electricity on property / connected; Sewer connected
• Home design: Manufactured home (single wide); One story; New construction
• Construction: Metal siding; Rolled/hot mop roof; Crawl space foundation
• Exterior features: Front porch; Full yard fencing; Located on a cul-de-sac; Road access: gravel and paved

Interior

• Kitchen: Dishwasher; Range / Oven; Refrigerator
• Bedrooms: Master downstairs
• Flooring: Carpet; Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating
• Interior features: Master bedroom on the main level; Double-pane windows; Fireplace
• Laundry & utility: Washer; Dryer; Water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $69k.

Deal economics

• At list price, monthly cash flow is $414 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $69k).
• Cap rate 13.5% vs local median 2.2% in Pullman — 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 85/100 on livability (#32 in WA, #542 nationally) — a professional / high-income tenant draw. Strengths: crime A+, amenities A+, commute A+; Watch: housing C-, employment F.
• Pullman School District (town): math 63% / reading 76% proficiency, ranked #30 of 291 in WA (top 10%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+3.4%/yr); 192 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 49 units permitted in Whitman County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $477 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Whitman County population projected at +57% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.4% rent growth), your $19k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $69,000

Questions for the listing agent

1. Built in 1973 — 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 A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
4. 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.
5. 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.
6. 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: 13.49%
• Cash-on-cash: 25.71%
• DSCR: 2.14
• GRM: 5.1

CMA / ARV

• ARV (on-the-fly): $18,600
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1165 S Grand Ave. #71 Ave #71	0.00mi	2/1.0	612 (+2%)	7mo	$19,000	$31	91
1165 S Grand Avenue #105 Ave #105	0.00mi	2/1.0	624 (+4%)	11mo	$13,000	$21	84
1165 S Grand Ave #41 Ave	0.13mi	2/1.0	600 (0%)	18mo	$30,000	$50	79

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 · 3.43% rent growth · sell at horizon

5-year hold

• IRR: 19.8%
• Equity multiple: 1.81×
• Total profit: $15,689
• Equity at exit: $10,288

10-year hold

• IRR: 28.4%
• Equity multiple: 3.57×
• Total profit: $49,705
• Equity at exit: $5,966

Cash invested: $19,320 (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 99163

• Rents YoY: 3.4%
• Active inventory: 192
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $1,128 medium
• Mortgage (P&I): −$362
• Tax est. 1.5%: −$86 /mo · $1,035/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$237
• Net cashflow: $414

Break-even live

Break-even rent $604

Max offer price $69,000

Occupancy floor 58%

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: $17,250
• Closing costs: $2,070
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
455 E Main St Pullman, WA	2.0–5.0	2.0–5.0	975	$539	$0.55	43d	1	0.77mi
1016 SE Latah St Pullman, WA	2.0	1.0	735	$1,050	$1.43	43d	4	0.91mi
305 NE Spaulding St Pullman, WA	1.0	1.0	625	$1,000	$1.60	43d	2	0.97mi
820 NE Colorado St Pullman, WA	1.0–8.0	1.0–3.0	723	$478	$0.66	43d	62	1.26mi

Listing history 8 events

1. 2026-06-19
   days on market $69,000 Active 9 DOM
2. 2026-06-18
   days on market $69,000 Active 8 DOM
3. 2026-06-17
   days on market $69,000 Active 7 DOM
4. 2026-06-16
   days on market $69,000 Active 6 DOM
5. 2026-06-15
   days on market $69,000 Active 5 DOM
6. 2026-06-14
   days on market $69,000 Active 3 DOM
7. 2026-06-12
   remarks 699-char remark
8. 2026-06-12
   listed $69,000 Active 2 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $13,531
• − Mortgage interest: −$3,865
• − Property taxes: −$1,035
• − Insurance: −$345
• − Repairs & maintenance: −$1,082
• − Management: −$1,082
• − Depreciation: −$2,007
• Taxable income: $4,113
• Est. tax owed @ 24.0%: −$987
• After-tax cash flow: $3,980/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: Pullman School District
• NCES district ID: 5306930
• Math proficiency: 63% ▼ -1.00%
• Reading proficiency: 76% ▲ 1.00%
• Median HH income: $29,034
• Composite: 58.15/100
• National rank: #2131
• State rank: #30 of 291 in WA

Livability — Pullman

• Score: 85/100
• State rank: #32
• US rank: #542

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pullman, WA
• County: Whitman County · 34,022 people
• City population: 34,022
• Metro: Pullman, WA
• Population (ZIP): 34,022
• Household income: $48,231
• Rent vs Own: 65.3% rent · 34.7% own
• Severe rent burden: 3453.0

Population outlook (Whitman County) Hauer SSP2

• Today (2025): 57,639 people
• By 2030: 63,440 · +10.1%
• By 2040: 75,870 · +31.6%
• By 2050: 90,294 · +56.7%
• By 2075: 131,756 · +128.6%
• By 2100: 169,239 · +193.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (69%)
• Race & ethnicity: White 69% Two or more races 12% Asian 10% Hispanic / Latino 9% Black 2%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Italian 5% Portuguese 5% Slovak 3%
• Foreign-born: 10% · China, Canada, Vietnam
• Languages at home: 86% English-only · Spanish 4% Chinese 4% Other Indo-European 2%

Political lean MEDSL · Whitman

• 2024 margin: Lean D (+9.0) · D 52.8% · R 43.8% · Other 3.4%
• 2008→2024 swing: +3.5pp toward D · 2008: 5.5pp · 2024: 9.0pp
• All cycles: 2024: D+9.0 2020: D+10.0 2016: D+0.5 2012: R+3.7 2008: D+5.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -367.44%
• Current HPI: 153.4778
• Rent YoY: ▲ 3.43%
• Metro: Pullman, 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

1 event — show timeline

• 2026-06-10 Listed $69,000 PACMLS

Property tax history

-9.2%/yr

Latest (2026): $38 · -5.2% YoY. Source: county tax records.