1019 Duryea St

Raymond, WA 98577

$260,000C-

5 bd · 2.0 ba · 1,741 sqft · Built 1954 · SingleFamily · Active · 338 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,500/mo
• Mortgage (P&I): −$1,363
• Tax + insurance: −$285
• HOA: −$0
• Vac / Maint / Mgmt: −$525
• Net cashflow: $326/mo
• Annual: $3,916/yr
• Cap rate: 7.80%
• Cash-on-cash: 5.38%
• DSCR: 1.24
• 1% rule: 0.96%
• Cash to close: $72,800

Investor read

• This is a 5-bed/2.0-bath single-family listed at $260k.
• At list price, monthly cash flow is $326 ($4k/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 $250k (3.8% below list).
• It's been on market 338 days — a 12% lower offer ($229k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $229k (12.0% 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 $8k of value loss. Plan a longer hold.
• Location reads 72/100 on livability (#212 in WA) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: commute F.
• Raymond School District (rural): math 30% / reading 48% proficiency, ranked #231 of 291 in WA (top 79%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Raymond Elementary School (224 students, 75% FRL); Raymond Jr Sr High School (259 students, 72% FRL) — zoned schools average 74% FRL vs 52% district-wide (21 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: built in 1954 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 92 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 90 units permitted in Pacific County in 2024 (0 in 5+ unit buildings).
• Pacific County population projected at -10% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts since 4y ago; this cycle's ask has dropped $50k (16%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Cap rate 7.8% vs local median 4.0% in Raymond — 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.

Questions for listing agent

• It's been on market 338 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1954 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.