108 N 2nd St · Harrington, WA 99134

$64,000

2 bd · 1.0 ba · 1,150 sqft · SingleFamily · 84 Days on market

Built 1910 $56/sqft · 68% 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
• Appreciation +5.0/10.0
• Schools +4.1/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Bungalow in the quaint town of Harrington, 2 bed 1 bath with newer roof and vinyl windows. Fixer that needs updating at a great price!

Key facts

• Vinyl windows
• Newer roof
• Built 1910

Tags

• NEWER ROOF
• VINYL WINDOWS

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $64k.

Deal economics

• At list price, monthly cash flow is $397 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $64k).
• Recommended offer: $60k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 57/100 on livability (#525 in WA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A; Watch: crime F, amenities F, commute F.
• Harrington School District (rural): math 35% / reading 55% proficiency, ranked #182 of 291 in WA (top 62%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 11 active listings in the ZIP; 49 units permitted in Lincoln County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($442 loan paydown + $2k appreciation (3.0% local appreciation)).
• Lincoln 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 ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 84 days — a 6% lower offer ($60k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 20y ago; this cycle's ask has dropped $15k (19%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $60,160 (6.0% below list)

Questions for the listing agent

1. It's been on market 84 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 1.61% ✓
• Cap rate: 13.74%
• Cash-on-cash: 26.59%
• DSCR: 2.18
• GRM: 5.2

CMA / ARV

• ARV (median comp): $201,873
• List price: $64,000
• Delta: -68.30%
• Verdict: UNDERPRICED
• Comps: 9 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 32.6%
• Equity multiple: 2.84×
• Total profit: $32,996
• Equity at exit: $28,777

10-year hold

• IRR: 32.9%
• Equity multiple: 5.58×
• Total profit: $82,033
• Equity at exit: $44,349

Cash invested: $17,920 (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 99134

• Active inventory: 11
• Price-to-rent: 5.2×

Monthly cashflow live

• Estimated rent: $1,029 medium
• Mortgage (P&I): −$336
• Tax from tax record: −$54 /mo · $647/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$216
• Net cashflow: $397

Break-even live

Break-even rent $527

Max offer price $64,000

Occupancy floor 56%

Sensitivity live

Price	-10% $433	-5% $415	+0% $397	+5% $379	+10% $361
Rent	-10% $316	-5% $356	+0% $397	+5% $438	+10% $478
Rate	-1.0pp $429	-0.5pp $413	base $397	+0.5pp $380	+1.0pp $364

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: $16,000
• Closing costs: $1,920
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-06-21
   days on market $64,000 Active 84 DOM
2. 2026-06-18
   days on market $64,000 Active 82 DOM
3. 2026-06-18
   pricestatus $64,000 Active 81 DOM
4. 2026-06-12
   days on market $69,000 Pending 81 DOM
5. 2026-06-03
   status $69,000 Pending 79 DOM
6. 2026-06-02
   days on market $69,000 Active 79 DOM
7. 2026-06-01
   days on market $69,000 Active 78 DOM
8. 2026-05-31
   days on market $69,000 Active 77 DOM
9. 2026-05-18
   price $69,000 134-char remark

   Show marketing remark (134 chars)

   Bungalow in the quaint town of Harrington, 2 bed 1 bath with newer roof and vinyl windows. Fixer that needs updating at a great price!

10. 2026-04-17
    price $74,000 134-char remark

    Show marketing remark (134 chars)

    Bungalow in the quaint town of Harrington, 2 bed 1 bath with newer roof and vinyl windows. Fixer that needs updating at a great price!

11. 2026-03-15
    listed $79,000 Active 134-char remark

    Show marketing remark (134 chars)

    Bungalow in the quaint town of Harrington, 2 bed 1 bath with newer roof and vinyl windows. Fixer that needs updating at a great price!

12. 2006-06-07
    historical
13. 2006-03-28
    listed $31,950

ⓘ 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: $647 · $54/mo
• Projected year-2 tax: $647 · $54/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 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 3/10 Moderate 7 d/yr ≥93°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 8/10 Severe 12 unhealthy d/yr today · 14 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,353
• − Mortgage interest: −$3,585
• − Property taxes: −$647
• − Insurance: −$320
• − Repairs & maintenance: −$988
• − Management: −$988
• − Depreciation: −$1,862
• Taxable income: $3,963
• Est. tax owed @ 24.0%: −$951
• After-tax cash flow: $3,813/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: Harrington School District
• NCES district ID: 5303360
• Math proficiency: 35% ▬ 0.00%
• Reading proficiency: 55% ▲ 10.00%
• Median HH income: $48,160
• Composite: 40.65/100
• National rank: #7629
• State rank: #182 of 291 in WA

Livability — Harrington

• Score: 57/100
• State rank: #525
• US rank: #21761

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Harrington, WA
• Population (ZIP): 608

Population outlook (Lincoln County) Hauer SSP2

• Today (2025): 9,599 people
• By 2030: 9,146 · -4.7%
• By 2040: 8,298 · -13.6%
• By 2050: 7,683 · -20.0%
• By 2075: 6,790 · -29.3%
• By 2100: 6,029 · -37.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (78%)
• Race & ethnicity: White 78% Hispanic / Latino 16% Two or more races 4% Native American 4% Black 2%
• Hispanic origin (detail): Mexican 16%
• Common ancestry: Scotch-Irish 6% English 3% Lithuanian 3%
• Foreign-born: 2% · Canada

Political lean MEDSL · Lincoln

• 2024 margin: Solid R (+50.6) · D 23.6% · R 74.2% · Other 2.2%
• 2008→2024 swing: -20.9pp toward R · 2008: -29.6pp · 2024: -50.6pp
• All cycles: 2024: R+50.6 2020: R+48.9 2016: R+50.2 2012: R+40.9 2008: R+29.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• 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

+116.0% since first listed

5 events — show timeline

• 2026-05-18 Price Changed $69,000 SPOKANEMLS as Distributed by MLS Grid
• 2026-04-17 Price Changed $74,000 SPOKANEMLS as Distributed by MLS Grid
• 2026-03-15 Listed $79,000 SPOKANEMLS as Distributed by MLS Grid
• 2006-06-07 Listing Removed — SPOKANEMLS as Distributed by MLS Grid
• 2006-03-28 Listed $31,950 SPOKANEMLS as Distributed by MLS Grid

Property tax history

+7.3%/yr

Latest (2026): $647 · -1.3% YoY. Source: county tax records.