5 Columbia Dr #2

Barney's Junction, WA 99141

$75,000B+

1 bd · 1.0 ba · 480 sqft · Built 2025 · SingleFamily · Active · 142 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,002/mo
• Mortgage (P&I): −$393
• Tax + insurance: −$137
• HOA: −$0
• Vac / Maint / Mgmt: −$210
• Net cashflow: $261/mo
• Annual: $3,128/yr
• Cap rate: 11.53%
• Cash-on-cash: 18.69%
• DSCR: 1.83
• 1% rule: 1.34%
• Cash to close: $21,000

Investor read

• This is a 1-bed/1.0-bath single-family listed at $75k. Condition is rated good.
• At list price, monthly cash flow is $261 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).
• It's been on market 142 days — a 12% lower offer ($66k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $66k (12.0% below list) — sets the bar for market timing.
• In year one you build about $8k of equity ($519 loan paydown + $8k appreciation (10.0% local appreciation)).
• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Kettle Falls School District (rural): math 37% / reading 58% proficiency, ranked #171 of 291 in WA (top 59%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Kettle Falls Elementary School (304 students, 62% FRL); Kettle Falls Middle School (237 students, 68% FRL); Kettle Falls High School (237 students, 65% FRL) — zoned schools average 65% FRL vs 46% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: flood insurance adds $66/mo.
• Market conditions: 120 active listings in the ZIP; 25 units permitted in Ferry County in 2024 (0 in 5+ unit buildings).
• Ferry County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 4 sale attempts; this cycle's ask has dropped $22k (23%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $21k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.
• Cap rate 11.5% vs local median 1.6% in Barney's Junction — 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 142 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• 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.
• This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
• What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
• Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
• 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.