2240 W Broadway Ave #1 · Moses Lake, WA 98837

$45,000

3 bd · 2.0 ba · 1,377 sqft · Manufactured public records · 5 Days on market

Built 1982

---

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 +3.9/10.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0
• Appreciation +0.0/10.0

Listing remarks

Built in 1982, this 1,377 sq. ft. manufactured double wide home in the sought-after 55+ Broadway Estates community offers great potential and affordable living! Featuring an open-concept floor plan with a spacious living area and kitchen, this home provides a functional layout with plenty of opportunity to make it your own. Recent updates include a new roof installed in 2025 and new laminate flooring in the living room and kitchen. Stay cozy with the charming wood-burning fireplace, perfect for relaxing evenings at home. Outside, you’ll find a spacious garage for extra storage, large covered car-port, along with a small backyard shed for added convenience. Conveniently located in a qu

Key facts

• New roof
• Small backyard shed
• Built 1982

Tags

• OPEN-CONCEPT FLOOR PLAN
• NEW ROOF
• NEW LAMINATE FLOORING
• WOOD-BURNING FIREPLACE
• LARGE COVERED CAR-PORT
• SMALL BACKYARD SHED

Property features AI

Finance

• Other: Mobile home remains on site
• Financial info: Land lease: $483; Listing terms: Cash
• HOA & community: Located in Broadway Estates (senior community); Park approved for sale; Approximately 110 homes in the park; Pets allowed — see remarks

Exterior

• Parking: Carport
• Utilities: Electric energy source; Public water
• Home design: Manufactured double-wide home; One story; Marlette make; Has a view
• Construction: Metal/vinyl construction; Composition roof; Slab foundation with tie-downs; Manufactured after June 15, 1976
• Exterior features: Metal/vinyl exterior; Patio/porch/deck; Paved lot

Interior

• Kitchen: Dishwasher; Refrigerator; Stove/Range
• Bedrooms: 3 bedrooms
• Flooring: Laminate
• Bathrooms: 1 full bath; 1 three-quarter bath
• Heating & cooling: Forced air heating; Heat pump; Cooling via heat pump/forced air
• Interior features: Fireplace (wood-burning)
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $45k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $45k).
• Cap rate 34.0% vs local median 3.3% in Moses Lake — 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 75/100 on livability (#170 in WA, #4,228 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, amenities A-; Watch: employment C-, schools D+, crime F.
• Moses Lake School District (town): math 38% / reading 48% proficiency, ranked #198 of 291 in WA (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents soft (-1.7%/yr); 585 active listings in the ZIP; 29 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; 559 units permitted in Grant County in 2024 (35 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $311 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Grant County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $13k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 25y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $32k; 41% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $45,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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?
4. 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.
5. 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.
6. 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: 3.72% ✓
• Cap rate: 34.05%
• Cash-on-cash: 99.12%
• DSCR: 5.41
• GRM: 2.2

CMA / ARV

• ARV (on-the-fly): $114,291
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2240 W Broadway Ave #129	0.00mi	2/2.0 (-1)	1,296 (-6%)	2mo	$135,000	$104	84
2240 W Broadway Ave #240	0.00mi	3/2.0	1,440 (+5%)	16mo	$120,000	$83	79
2240 W Broadway Ave #25	0.00mi	3/2.0	1,248 (-9%)	9mo	$118,000	$95	77
2240 W Broadway Ave #22	0.00mi	3/2.0	1,248 (-9%)	9mo	$85,000	$68	77
2240 W Broadway Ave #245	0.00mi	3/2.0	1,512 (+10%)	8mo	$144,950	$96	77
2240 W Broadway Ave #204	0.00mi	3/2.0	1,200 (-13%)	3mo	$92,000	$77	76
2240 W Broadway Ave #2	0.00mi	2/2.0 (-1)	1,512 (+10%)	12mo	$119,380	$79	69
2240 W Broadway Ave #115	0.00mi	3/2.0	1,539 (+12%)	17mo	$100,000	$65	66
2240 W Broadway Dr #23	0.00mi	3/2.0	1,566 (+14%)	19mo	$100,000	$64	61
1807 W Bemis St	0.19mi	3/2.0	1,200 (-13%)	14mo	$260,000	$217	58

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 96.8%
• Equity multiple: 5.29×
• Total profit: $54,093
• Equity at exit: $6,710

10-year hold

• IRR: 98.9%
• Equity multiple: 10.01×
• Total profit: $113,510
• Equity at exit: $3,891

Cash invested: $12,600 (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 98837

• Rents YoY: -1.7%
• Active inventory: 585
• Price-to-rent: 2.2×

Monthly cashflow live

• Estimated rent: $1,676 high
• Mortgage (P&I): −$236
• Tax from tax record: −$29 /mo · $343/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$352
• Net cashflow: $1,041

Break-even live

Break-even rent $359

Max offer price $45,000

Occupancy floor 33%

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: $11,250
• Closing costs: $1,350
• Reserves months: —
• Total cash needed: —

Rent comps 29 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1830 W Crouse St #1 Moses Lake, WA	2.0	1.0	946	$1,295	$1.37	44d	1	0.13mi
1701 W Crouse St Moses Lake, WA	1.0–3.0	1.0–2.0	1017	$1,650	$1.62	44d	6	0.27mi
1709 W Fern Dr Apt C Moses Lake, WA	2.0	1.5	1390	$1,300	$0.94	44d	1	0.31mi
2625 W Marina Dr Unit 4 Moses Lake, WA	2.0	2.5	1300	$1,500	$1.15	44d	1	0.52mi
2625 W Marina Dr Unit 5 Moses Lake, WA	3.0	2.5	1300	$1,795	$1.38	44d	1	0.52mi
2625 W Marina Dr Unit 3 Moses Lake, WA	2.0	2.5	1350	$1,700	$1.26	44d	1	0.52mi
1717 W Lakeside Dr Moses Lake, WA	3.0	1.5	1554	$3,000	$1.93	44d	1	0.52mi
2637 W Marina Dr Moses Lake, WA	2.0	2.5	1340	$1,600	$1.19	44d	1	0.52mi
2805 W Marina Dr Unit A3 Moses Lake, WA	2.0	2.5	1350	$1,450	$1.07	44d	1	0.65mi
2812 W Marina Dr Unit D Moses Lake, WA	2.0	2.0	1078	$1,695	$1.57	44d	1	0.66mi
2821 W Marina Dr Unit 1 Moses Lake, WA	2.0	2.5	1200	$1,550	$1.29	44d	1	0.68mi
2821 W Marina Dr Unit 5 Moses Lake, WA	3.0	2.5	1300	$1,650	$1.27	44d	1	0.68mi
2829 W Marina Dr Unit 6 Moses Lake, WA	2.0	2.5	1200	$1,550	$1.29	44d	1	0.70mi
2829 W Marina Dr Unit 1 Moses Lake, WA	3.0	2.5	1300	$1,650	$1.27	44d	1	0.70mi
511 S Interlake Rd Moses Lake, WA	2.0–4.0	2.0	1095	$1,170	$1.07	44d	8	0.73mi
2900 W Marina Dr Moses Lake, WA	2.0	2.0	1036	$1,688	$1.63	44d	1	0.77mi
1211 W Ivy Ave Unit 203 Moses Lake, WA	2.0	1.0	900	$1,250	$1.39	44d	1	0.90mi
8328 Road 2.4 NE Moses Lake, WA	3.0	2.0	1749	$2,295	$1.31	44d	1	0.90mi
1205 W Ivy Ave Unit 101 Moses Lake, WA	2.0	1.0	900	$1,150	$1.28	44d	1	0.90mi
1206 W Columbia Ave Unit D Moses Lake, WA	2.0	1.0	900	$1,295	$1.44	44d	1	0.93mi
3013 W Lakeside Dr Unit 5 Moses Lake, WA	3.0	2.0	1700	$2,400	$1.41	44d	1	0.96mi
1137 W Lakeside Dr Moses Lake, WA	2.0	1.0	1286	$1,495	$1.16	44d	1	1.11mi
310 N Crestview Dr Unit B Moses Lake, WA	3.0	1.0	1573	$1,875	$1.19	44d	1	1.16mi
215 N Wellington St Moses Lake, WA	3.0	2.0	1550	$2,200	$1.42	44d	1	1.38mi
1330 S Skyline Dr Unit D Moses Lake, WA	2.0	1.5	1400	$1,450	$1.04	44d	1	1.45mi
1330 S Skyline Dr Moses Lake, WA	2.0	1.0	1400	$1,450	$1.04	44d	1	1.45mi
1326 S Skyline Dr Unit C Moses Lake, WA	2.0	1.5	1400	$1,450	$1.04	44d	1	1.46mi
1326 S Skyline Dr Moses Lake, WA	2.0	1.5	1400	$1,395	$1.00	44d	1	1.46mi
440 Laguna Dr Moses Lake, WA	3.0	2.0	1594	$1,800	$1.13	44d	1	1.47mi

Listing history 4 events

1. 2026-05-21
   status Pending
2. 2026-05-15
   listed $45,000 Active
3. 2002-03-15
   soldstatus $32,000
4. 2001-03-01
   listed $44,900

ⓘ 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: $343 · $29/mo
• Projected year-2 tax: $441 · $37/mo
• Expected delta: +$98/yr (+$8/mo · 28.5%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥96°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 7/10 Severe 12 unhealthy d/yr today · 14 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,113
• − Mortgage interest: −$2,521
• − Property taxes: −$343
• − Insurance: −$225
• − Repairs & maintenance: −$1,609
• − Management: −$1,609
• − Depreciation: −$1,309
• Taxable income: $12,497
• Est. tax owed @ 24.0%: −$2,999
• After-tax cash flow: $9,490/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: Moses Lake School District
• NCES district ID: 5305220
• Math proficiency: 38% ▬ 0.00%
• Reading proficiency: 48% ▼ -1.00%
• Median HH income: $49,033
• Composite: 39.17/100
• National rank: #8232
• State rank: #198 of 291 in WA

Livability — Moses Lake

• Score: 75/100
• State rank: #170
• US rank: #4228

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Moses Lake, WA
• County: Grant County · 61,643 people
• City population: 49,455
• Metro: Moses Lake, WA
• Population (ZIP): 49,455
• Household income: $74,586
• Rent vs Own: 33.4% rent · 66.6% own
• Severe rent burden: 1064.0

Population outlook (Grant County) Hauer SSP2

• Today (2025): 99,356 people
• By 2030: 102,107 · +2.8%
• By 2040: 108,318 · +9.0%
• By 2050: 114,712 · +15.5%
• By 2075: 131,376 · +32.2%
• By 2100: 146,163 · +47.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.55)
• Race & ethnicity: White 58% Hispanic / Latino 33% Two or more races 15% Black 2% Asian 1%
• Hispanic origin (detail): Mexican 30%
• Common ancestry: Portuguese 3% Subsaharan African 2% Lithuanian 2%
• Foreign-born: 10% · Canada
• Languages at home: 76% English-only · Spanish 21% Russian/Polish/Slavic 2%

Political lean MEDSL · Grant

• 2024 margin: Solid R (+37.5) · D 30.0% · R 67.4% · Other 2.6%
• 2008→2024 swing: -9.9pp toward R · 2008: -27.5pp · 2024: -37.5pp
• All cycles: 2024: R+37.5 2020: R+34.4 2016: R+37.9 2012: R+32.6 2008: R+27.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -384.29%
• Current HPI: 208.4574
• Rent YoY: ▼ -1.72%
• Metro: Moses Lake, 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

+0.2% since first listed

4 events — show timeline

• 2026-05-21 Pending — NWMLS as Distributed by MLS Grid
• 2026-05-15 Listed $45,000 NWMLS as Distributed by MLS Grid
• 2002-03-15 Sold (MLS) $32,000 NWMLS as Distributed by MLS Grid
• 2001-03-01 Listed $44,900 NWMLS as Distributed by MLS Grid

Property tax history

-1.7%/yr

Latest (2026): $343 · +0.0% YoY. Source: county tax records.