1628 Pleasant Ave · Wenatchee, WA 98801

$165,000

2 bd · 2.0 ba · 1,188 sqft · Manufactured · 297 Days on market

Built 1994 Fair condition $139/sqft · at area comps Est $166k · at est. ↓ 12% since listing

---

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 +24.9/30.0
• DSCR +8.1/10.0
• ARV discount +7.7/15.0
• 1% rule +6.5/10.0
• Schools +4.2/10.0
• Livability +3.6/5.0
• Rent growth +2.7/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this well-maintained 2-bedroom, 1.75-bath manufactured home in Meadowridge, a desirable 55+ community. Offering 1,188 Sqft of comfortable living space, this home features vaulted ceilings and an open-concept layout designed for both everyday living and entertaining. The spacious living room flows seamlessly into the kitchen and dining area, creating a warm and inviting atmosphere. Enjoy your morning coffee or evening sunset on the private patio. A detached 2-car garage provides ample room for vehicles, storage, or hobbies. As an added bonus, the seller is offering a $3,000 credit toward exterior paint, giving the new owner the opportunity to add their own personal touch. Lot rent

Key facts

• Rv parking
• Clubhouse access
• Private patio

Tags

• PRIVATE PATIO
• LANDSCAPED OUTDOOR SPACE
• DETACHED GARAGE
• RV PARKING
• CLUBHOUSE ACCESS

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $165k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $232 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $165k).
• Recommended offer: $145k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.9% vs local median 2.9% in Wenatchee — 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 72/100 on livability (#211 in WA) — a middle-class / working-renter tenant base. Strengths: health & safety A+, housing A, amenities B; Watch: crime C-, commute F.
• Wenatchee School District (urban): math 38% / reading 54% proficiency, ranked #175 of 291 in WA (top 60%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents flat; 326 active listings in the ZIP; 20 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; solid renter incomes; 762 units permitted in Chelan County in 2024 (377 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Chelan County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 297 days — a 12% lower offer ($145k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $122/mo.
• Climate carrying-cost: in FEMA flood zone AO (mandatory federal flood insurance); moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $145,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 297 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. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. 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.
7. 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.
8. 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: 1.15% ✓
• Cap rate: 8.87%
• Cash-on-cash: 9.20%
• DSCR: 1.41
• GRM: 7.3

CMA / ARV

• ARV (median comp): $165,628
• List price: $165,000
• Delta: -0.38%
• Verdict: FAIR
• Comps: 10 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1626 Pleasant Ave #35	0.01mi	2/2.0	1,188 (0%)	2mo	$145,000	$122	98
1809 Heritage Hvn	0.50mi	2/2.0	1,188 (0%)	3mo	$370,000	$311	74
1611 Fairview Ave	0.07mi	3/2.0 (+1)	1,080 (-9%)	6mo	$105,000	$97	71
1608 Fairview Ave #47	0.06mi	2/2.0	1,296 (+9%)	20mo	$179,900	$139	65
611 N Western Ave #25	0.24mi	3/2.0 (+1)	1,344 (+13%)	8mo	$185,500	$138	55
1721 Clark Dr #20	0.53mi	2/2.0	1,152 (-3%)	20mo	$165,000	$143	53
1849 Heritage Dr	0.61mi	3/2.0 (+1)	1,300 (+9%)	0mo	$420,000	$323	50
1307 Glacier Pl #65	0.50mi	2/2.0	1,296 (+9%)	20mo	$194,900	$150	44
1610 Clark Dr #5	0.55mi	2/2.0	1,326 (+12%)	17mo	$160,000	$121	41
1606 Clark Dr #3	0.55mi	3/2.0 (+1)	1,080 (-9%)	20mo	$210,000	$194	38
1310 Twin Peaks Dr #23	0.54mi	3/2.0 (+1)	1,300 (+9%)	22mo	$229,400	$176	35
1311 Maple St #2	0.64mi	2/2.0	1,016 (-14%)	20mo	$58,000	$57	30

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 · 0.75% rent growth · sell at horizon

5-year hold

• IRR: -9.7%
• Equity multiple: 0.65×
• Total profit: $-16,045
• Equity at exit: $24,602

10-year hold

• IRR: -4.0%
• Equity multiple: 0.76×
• Total profit: $-10,954
• Equity at exit: $14,266

Cash invested: $46,200 (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 98801

• Rents YoY: 0.8%
• Active inventory: 326
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,892 high
• Mortgage (P&I): −$865
• Tax est. 1.5%: −$206 /mo · $2,475/yr
• Insurance: −$69
• Flood insurance flood zone: −$122 /mo · $1,468/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$397
• Net cashflow: $232

Break-even live

Break-even rent $1,598

Max offer price $165,000

Occupancy floor 83%

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1312 Springwater Ave Wenatchee, WA	3.0	2.0	1150	$2,550	$2.22	43d	1	0.46mi
1311 Westwood Ave Wenatchee, WA	1.0–2.0	1.0–2.0	880	$1,850	$2.10	43d	3	0.47mi
1415 Maple St Wenatchee, WA	2.0	1.0	928	$1,848	$1.99	43d	11	0.56mi
1409 Maple St Unit 2 Wenatchee, WA	2.0	2.0	1300	$2,195	$1.69	43d	1	0.60mi
1250 Central Ave Wenatchee, WA	1.0–3.0	1.0	698	$1,728	$2.48	43d	6	0.64mi
511 Ramona Ave Wenatchee, WA	2.0	1.0	900	$1,595	$1.77	43d	1	0.69mi
1231 McKittrick St Unit 3 Wenatchee, WA	2.0	2.0	1044	$1,695	$1.62	43d	1	0.92mi
1688 Stella Ave Wenatchee, WA	2.0	2.0	961	$1,838	$1.91	43d	4	0.95mi
1450 Castlerock Ave Wenatchee, WA	1.0–2.0	1.0–2.0	875	$2,001	$2.29	43d	6	0.96mi
503 N Emerson Ave Wenatchee, WA	1.0	1.0	705	$1,350	$1.91	43d	1	1.03mi
309 N Emerson Ave Unit 1 Wenatchee, WA	2.0	1.0	1400	$1,595	$1.14	43d	1	1.07mi
1705 Stella Ave Wenatchee, WA	2.0	2.0	942	$1,835	$1.95	43d	8	1.08mi
211 N Delaware Ave Wenatchee, WA	1.0–2.0	1.0–1.5	1100	$1,695	$1.54	43d	2	1.19mi
615 N Piere St Wenatchee, WA	2.0	1.0–2.0	809	$2,355	$2.91	43d	9	1.25mi
201 Pennsylvania Ave #6 Wenatchee, WA	2.0	1.0	800	$1,795	$2.24	43d	1	1.26mi
895 Riverside Dr Wenatchee, WA	2.0	1.0–2.5	1000	$2,225	$2.22	43d	15	1.28mi
108 N Buchanan Ave Wenatchee, WA	2.0	1.0	700	$1,495	$2.14	43d	1	1.31mi
1239 Susan Pl Wenatchee, WA	2.0	1.0	868	$2,000	$2.30	43d	1	1.35mi
702 Gellatly St Unit D1231 Wenatchee, WA	2.0	1.0	775	$1,625	$2.10	43d	1	1.41mi
315 N Worthen St Wenatchee, WA	2.0	1.0–2.0	699	$2,195	$3.14	43d	14	1.41mi

Listing history 19 events

1. 2026-06-19
   days on market $165,000 Active 297 DOM
2. 2026-06-18
   days on market $165,000 Active 296 DOM
3. 2026-06-17
   days on market $165,000 Active 295 DOM
4. 2026-06-16
   days on market $165,000 Active 294 DOM
5. 2026-06-15
   days on market $165,000 Active 293 DOM
6. 2026-06-14
   days on market $165,000 Active 291 DOM
7. 2026-06-13
   days on market $165,000 Active 290 DOM
8. 2026-06-10
   days on market $165,000 Active 288 DOM
9. 2026-06-09
   days on market $165,000 Active 287 DOM
10. 2026-06-08
    days on market $165,000 Active 286 DOM
11. 2026-06-07
    days on market $165,000 Active 285 DOM
12. 2026-06-05
    days on market $165,000 Active 282 DOM
13. 2026-06-02
    days on market $165,000 Active 280 DOM
14. 2026-06-01
    days on market $165,000 Active 279 DOM
15. 2026-05-31
    days on market $165,000 Active 278 DOM
16. 2026-05-30
    days on market $165,000 Active 277 DOM
17. 2026-05-04
    price $165,000
18. 2025-12-30
    price $175,000
19. 2025-08-26
    listed $188,000 Active

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone AO · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 4/10 Moderate 7 d/yr ≥96°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 25 unhealthy d/yr today · 25 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,703
• − Mortgage interest: −$9,243
• − Property taxes: −$2,475
• − Insurance: −$2,292
• − Repairs & maintenance: −$1,816
• − Management: −$1,816
• − Depreciation: −$4,800
• Taxable income: $260
• Est. tax owed @ 24.0%: −$62
• After-tax cash flow: $2,722/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 · 1 photo

Fair 45/100 Moderate rehab

This manufactured home requires moderate repairs and maintenance, including painting and landscaping, to improve its condition and value.

Repairs flagged

• Minor Painting — Paint appears faded in some areas
• Minor Landscaping — Some areas of landscaping appear overgrown

Value-add opportunities

• Both Painting — Fresh paint can improve curb appeal and interior aesthetics
• Both Landscaping — Well-maintained landscaping enhances curb appeal and property value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Painting · Paint appears faded in some areas	Minor	$500–3,000
Landscaping · Some areas of landscaping appear overgrown	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Both Painting — Fresh paint can improve curb appeal and interior aesthetics ↑
• Both Landscaping — Well-maintained landscaping enhances curb appeal and property value ↑

ⓘ 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: Wenatchee School District
• NCES district ID: 5309660
• Math proficiency: 38% ▲ 1.00%
• Reading proficiency: 54% ▲ 2.00%
• Median HH income: $51,059
• Composite: 41.72/100
• National rank: #7189
• State rank: #175 of 291 in WA

Livability — Wenatchee

• Score: 72/100
• State rank: #211
• US rank: #6003

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wenatchee, WA
• County: Chelan County · 53,031 people
• City population: 45,426
• Metro: Wenatchee, WA
• Population (ZIP): 45,426
• Household income: $81,488
• Rent vs Own: 41.2% rent · 58.8% own
• Severe rent burden: 1278.0

Population outlook (Chelan County) Hauer SSP2

• Today (2025): 81,630 people
• By 2030: 84,312 · +3.3%
• By 2040: 88,619 · +8.6%
• By 2050: 91,915 · +12.6%
• By 2075: 99,409 · +21.8%
• By 2100: 100,032 · +22.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (61%)
• Race & ethnicity: White 61% Hispanic / Latino 33% Two or more races 14% Native American 2%
• Hispanic origin (detail): Mexican 28%
• Common ancestry: Portuguese 4% Italian 3% Slovak 3%
• Foreign-born: 14% · Canada, Dominican Republic
• Languages at home: 72% English-only · Spanish 27%

Political lean MEDSL · Chelan

• 2024 margin: Lean R (+9.5) · D 43.9% · R 53.4% · Other 2.7%
• 2008→2024 swing: +2.5pp toward D · 2008: -12.0pp · 2024: -9.5pp
• All cycles: 2024: R+9.5 2020: R+7.8 2016: R+15.7 2012: R+16.9 2008: R+12.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -569.39%
• Current HPI: 227.1555
• Rent YoY: ▲ 0.75%
• Metro: Wenatchee, 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

-12.2% since first listed

3 events — show timeline

• 2026-05-04 Price Changed $165,000 NWMLS as Distributed by MLS Grid
• 2025-12-30 Price Changed $175,000 NWMLS as Distributed by MLS Grid
• 2025-08-26 Listed $188,000 NWMLS as Distributed by MLS Grid