315 N 1st St · Dayton, WA 99328

$65,000

3 bd · 4.0 ba · 2,161 sqft · Other public records · 69 Days on market

6,060 sqft lot $30/sqft · 70% below area

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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 +5.3/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Bring your vision and your crew! This duplex is an ideal project for those experienced in building and comprehensive rehabilitations. Once the foundation is raised and the interior is finished, this property stands to be a great income producer in Dayton! Property sustained first-floor damage in the 2026 flood. Remediation was initiated immediately afterwards, but has now been halted. Before a Certificate of Occupancy will be issued, a new foundation must be installed to raise the building above the base flood elevation and interior repairs completed. On the bright side, the upstairs of the duplex is in great shape and the building has a new roof! Upstairs unit has both interior and exterio

Key facts

• Upstairs unit access
• New roof
• 6,060 sq ft lot

Tags

• NEW ROOF
• UPSTAIRS UNIT ACCESS

What this means for you Summary

Snapshot

• This is a 3-bed/4.0-bath other listed at $65k.

Deal economics

• At list price, monthly cash flow is $214 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $65k).
• Recommended offer: $61k (6.0% below list) — sets the bar for market timing.
• Cap rate 18.1% vs local median 2.0% in Dayton — 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 80/100 on livability (#86 in WA, #1,643 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities D, commute F.
• Dayton School District (town): math 54% / reading 67% proficiency, ranked #66 of 291 in WA (top 23%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 57 active listings in the ZIP; 2 units permitted in Columbia County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $449 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Columbia 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 $18k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 69 days — a 6% lower offer ($61k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $46k; 42% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 3.0% of price; flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $61,100 (6.0% below list)

Questions for the listing agent

1. It's been on market 69 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. 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. 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.
8. 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.
9. 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: 2.28% ✓
• Cap rate: 18.11%
• Cash-on-cash: 42.21%
• DSCR: 2.88
• GRM: 3.7

CMA / ARV

• ARV (median comp): $213,557
• List price: $65,000
• Delta: -69.56%
• Verdict: UNDERPRICED
• Comps: 4 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 4.8%
• Equity multiple: 1.19×
• Total profit: $3,411
• Equity at exit: $9,692

10-year hold

• IRR: 14.6%
• Equity multiple: 2.20×
• Total profit: $21,852
• Equity at exit: $5,620

Cash invested: $18,200 (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 99328

• Active inventory: 57
• Price-to-rent: 3.7×

Monthly cashflow live

• Estimated rent: $1,480 medium
• Mortgage (P&I): −$341
• Tax from tax record: −$161 /mo · $1,933/yr
• Insurance: −$27
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$311
• Net cashflow: $214

Break-even live

Break-even rent $1,210

Max offer price $65,000

Occupancy floor 81%

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-18
   days on market $65,000 Active 69 DOM
2. 2026-06-17
   days on market $65,000 Active 68 DOM
3. 2026-06-16
   days on market $65,000 Active 67 DOM
4. 2026-06-15
   days on market $65,000 Active 66 DOM
5. 2026-06-15
   days on market $65,000 Active 65 DOM
6. 2026-06-13
   days on market $65,000 Active 64 DOM
7. 2026-06-12
   days on market $65,000 Active 63 DOM
8. 2026-06-09
   days on market $65,000 Active 60 DOM
9. 2026-06-08
   days on market $65,000 Active 59 DOM
10. 2026-06-08
    days on market $65,000 Active 58 DOM
11. 2026-06-07
    days on market $65,000 Active 57 DOM
12. 2026-06-03
    days on market $65,000 Active 54 DOM
13. 2026-06-02
    days on market $65,000 Active 53 DOM
14. 2026-06-01
    days on market $65,000 Active 52 DOM
15. 2026-05-31
    days on market $65,000 Active 51 DOM
16. 2026-04-10
    listed $65,000 Active
17. 2008-09-25
    soldstatus $45,628

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

Tax reassessment forecast WA · Resets to sale price

• Current annual tax: $1,933 · $161/mo
• Projected year-2 tax: $1,933 · $161/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥95°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 6/10 Major 8 unhealthy d/yr today · 9 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,761
• − Mortgage interest: −$3,641
• − Property taxes: −$1,933
• − Insurance: −$5,444
• − Repairs & maintenance: −$1,421
• − Management: −$1,421
• − Depreciation: −$1,891
• Taxable income: $2,011
• Est. tax owed @ 24.0%: −$483
• After-tax cash flow: $2,082/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: Dayton School District
• NCES district ID: 5302040
• Math proficiency: 54% ▲ 4.00%
• Reading proficiency: 67% ▲ 8.00%
• Median HH income: $44,609
• Composite: 52.54/100
• National rank: #3380
• State rank: #66 of 291 in WA

Livability — Dayton

• Score: 80/100
• State rank: #86
• US rank: #1643

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Dayton, WA
• Population (ZIP): 3,595

Population outlook (Columbia County) Hauer SSP2

• Today (2025): 3,651 people
• By 2030: 3,482 · -4.6%
• By 2040: 3,159 · -13.5%
• By 2050: 2,931 · -19.7%
• By 2075: 2,817 · -22.8%
• By 2100: 2,964 · -18.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (81%)
• Race & ethnicity: White 81% Two or more races 14% Hispanic / Latino 9%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Italian 3% Slovak 3% Iranian 3%
• Foreign-born: 3% · Canada
• Languages at home: 92% English-only · Spanish 6% Other Asian/Pacific 2% Other Indo-European 1%

Political lean MEDSL · Columbia

• 2024 margin: Solid R (+43.5) · D 26.7% · R 70.2% · Other 3.1%
• 2008→2024 swing: -7.0pp toward R · 2008: -36.5pp · 2024: -43.5pp
• All cycles: 2024: R+43.5 2020: R+43.5 2016: R+44.6 2012: R+41.0 2008: R+36.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -156.27%
• Current HPI: 177.3211
• 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

+42.5% since first listed

2 events — show timeline

• 2026-04-10 Listed $65,000 NWMLS as Distributed by MLS Grid
• 2008-09-25 Sold (Public Records) $45,628 Public Records

Property tax history

+7.5%/yr

Latest (2026): $1,933 · +15.1% YoY. Source: county tax records.