301 W Main St · Almira, WA 99103

$109,000

1 bd · 1.5 ba · 4,125 sqft · SingleFamily · 259 Days on market

Built 1900 Poor condition 2,929 sqft lot

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Why this score? — see what drove the C- 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 +16.4/30.0
• ARV discount +7.5/15.0
• Schools +5.8/10.0
• DSCR +5.1/10.0
• Appreciation +5.0/10.0
• 1% rule +4.5/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +1.0/5.0

Listing remarks

Historic 2-Story Building! This early 1900s brick building, formerly the town preschool- later a bank, is now available for mixed use! Full of unique charm & historic character, this property offers a rare opportunity to own a true piece of Almira’s past! Featuring two stories & spacious basement, the building provides a solid foundation for those with vision & creativity. Whether you're passionate about restoration or looking to create a one-of-a-kind living space, this structure is ready for a fresh transformation. Imagine the possibilities! Don’t miss this opportunity!

Key facts

• Historic character
• Spacious basement
• 2,929 sq ft lot

Tags

• SPACIOUS BASEMENT
• HISTORIC CHARACTER

What this means for you Summary

Snapshot

• This is a 1-bed/1.5-bath single-family listed at $109k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $62 ($745/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 $103k (5.3% below list).
• Recommended offer: $96k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 66/100 on livability (#323 in WA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, schools B; Watch: health & safety C-, crime F, amenities F.
• Almira School District (rural): math 65% / reading 70% proficiency, ranked #29 of 291 in WA (top 10%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 8 active listings in the ZIP; 49 units permitted in Lincoln County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($754 loan paydown + $3k appreciation (3.0% local appreciation)).
• Lincoln County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 259 days — a 12% lower offer ($96k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $95,920 (12.0% below list)

Questions for the listing agent

1. It's been on market 259 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. Schools are B-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?
7. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
8. 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.
9. 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.
10. 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: 0.95% ✗
• Cap rate: 6.98%
• Cash-on-cash: 2.44%
• DSCR: 1.11
• GRM: 8.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 9.8%
• Equity multiple: 1.56×
• Total profit: $17,101
• Equity at exit: $49,011

10-year hold

• IRR: 12.2%
• Equity multiple: 2.81×
• Total profit: $55,375
• Equity at exit: $75,532

Cash invested: $30,520 (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 99103

• Active inventory: 8
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $1,032 medium
• Mortgage (P&I): −$572
• Tax est. 1.5%: −$136 /mo · $1,635/yr
• Insurance: −$45
• HOA: −$0
• Vacancy / Maint / Mgmt: −$217
• Net cashflow: $62

Break-even live

Break-even rent $954

Max offer price $109,000

Occupancy floor 89%

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: $27,250
• Closing costs: $3,270
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-18
   days on market $109,000 Active 259 DOM
2. 2026-06-17
   days on market $109,000 Active 258 DOM
3. 2026-06-16
   days on market $109,000 Active 257 DOM
4. 2026-06-15
   days on market $109,000 Active 256 DOM
5. 2026-06-15
   days on market $109,000 Active 255 DOM
6. 2026-06-13
   days on market $109,000 Active 254 DOM
7. 2026-06-12
   days on market $109,000 Active 253 DOM
8. 2026-06-09
   days on market $109,000 Active 250 DOM
9. 2026-06-08
   days on market $109,000 Active 249 DOM
10. 2026-06-08
    days on market $109,000 Active 248 DOM
11. 2026-06-05
    days on market $109,000 Active 246 DOM
12. 2026-06-03
    days on market $109,000 Active 244 DOM
13. 2026-06-02
    days on market $109,000 Active 243 DOM
14. 2026-06-01
    days on market $109,000 Active 242 DOM
15. 2026-05-31
    days on market $109,000 Active 241 DOM
16. 2025-10-02
    listed $109,000 Active

ⓘ 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: $12,385
• − Mortgage interest: −$6,106
• − Property taxes: −$1,635
• − Insurance: −$545
• − Repairs & maintenance: −$991
• − Management: −$991
• − Depreciation: −$3,171
• Taxable loss: −$1,053
• Est. tax savings @ 24.0%: +$253
• After-tax cash flow: $998/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.

Condition & rehab AI · 13 photos

Poor 20/100 Extensive rehab

This historic 2-story building requires extensive renovations, including kitchen and bathroom updates, exterior paint, and window repair. The property has significant potential for increased value with these improvements.

Repairs flagged

• Major Kitchen cabinets — Severe peeling paint and damage to the cabinets.
• Major Kitchen appliances — Severe wear and tear, with visible damage.
• Major Bathroom fixtures — Severe wear and tear, with visible damage.
• Major Bathroom flooring — Severe wear and tear, with visible damage.
• Major Exterior paint — Severe peeling and damage to the exterior paint.
• Major Windows — Severe wear and tear, with visible damage.

Value-add opportunities

• Resale Kitchen renovation — A modern kitchen will attract more buyers and increase the property's value.
• Resale Bathroom renovation — A modern bathroom will attract more buyers and increase the property's value.
• Both Exterior paint and landscaping — A fresh coat of paint and landscaping will improve the curb appeal and attract more renters.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · Severe peeling paint and damage to the cabinets.	Major	$15,000–50,000
Kitchen appliances · Severe wear and tear, with visible damage.	Major	$15,000–50,000
Bathroom fixtures · Severe wear and tear, with visible damage.	Major	$15,000–50,000
Bathroom flooring · Severe wear and tear, with visible damage.	Major	$15,000–50,000
Exterior paint · Severe peeling and damage to the exterior paint.	Major	$15,000–50,000
Windows · Severe wear and tear, with visible damage.	Major	$15,000–50,000
Total estimated repair cost · 6 items		$90,000–300,000

Value-add ROI direction

• Resale Kitchen renovation — A modern kitchen will attract more buyers and increase the property's value. ↑
• Resale Bathroom renovation — A modern bathroom will attract more buyers and increase the property's value. ↑
• Both Exterior paint and landscaping — A fresh coat of paint and landscaping will improve the curb appeal and attract more renters. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Almira School District
• NCES district ID: 5300090
• Math proficiency: 65% ▬ 0.00%
• Reading proficiency: 70% ▼ -5.00%
• Median HH income: $47,183
• Composite: 58.32/100
• National rank: #2091
• State rank: #29 of 291 in WA

Livability — Almira

• Score: 66/100
• State rank: #323
• US rank: #11961

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Almira, WA
• Population (ZIP): 534

Population outlook (Lincoln County) Hauer SSP2

• Today (2025): 9,599 people
• By 2030: 9,146 · -4.7%
• By 2040: 8,298 · -13.6%
• By 2050: 7,683 · -20.0%
• By 2075: 6,790 · -29.3%
• By 2100: 6,029 · -37.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Hispanic / Latino 7% Two or more races 3%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Lithuanian 4% Scottish 2% Portuguese 2%
• Foreign-born: 2% · China
• Languages at home: 95% English-only · Spanish 4% German/W. Germanic 1%

Political lean MEDSL · Lincoln

• 2024 margin: Solid R (+50.6) · D 23.6% · R 74.2% · Other 2.2%
• 2008→2024 swing: -20.9pp toward R · 2008: -29.6pp · 2024: -50.6pp
• All cycles: 2024: R+50.6 2020: R+48.9 2016: R+50.2 2012: R+40.9 2008: R+29.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• 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

1 event — show timeline

• 2025-10-02 Listed $109,000 NWMLS as Distributed by MLS Grid