25 Bryan Way

Lyle, WA 98635

$232,500C

2 bd · 1.0 ba · 900 sqft · Built 1980 · Manufactured · Active · 103 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,384/mo
• Mortgage (P&I): −$1,219
• Tax + insurance: −$182
• HOA: −$0
• Vac / Maint / Mgmt: −$501
• Net cashflow: $482/mo
• Annual: $5,782/yr
• Cap rate: 8.78%
• Cash-on-cash: 8.88%
• DSCR: 1.40
• 1% rule: 1.03%
• Cash to close: $65,100

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $232k.
• At list price, monthly cash flow is $482 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $232k).
• It's been on market 103 days — a 9% lower offer ($212k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $212k (9.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Location reads 64/100 on livability (#361 in WA) — a middle-class / working-renter tenant base. Strengths: crime A, cost of living A; Watch: health & safety C-, schools D+, employment D+.
• Lyle School District (rural): math 30% / reading 35% proficiency, ranked #261 of 291 in WA (top 90%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 63% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 55 active listings in the ZIP; 80 units permitted in Klickitat County in 2024 (0 in 5+ unit buildings).
• Klickitat County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 2 sale attempts; this cycle's ask has dropped $42k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Climate carrying-cost: severe wildfire risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 103 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• 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.
• Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.