535 NW Meyers St · Kettle Falls, WA 99141

$150,000

2 bd · 1.0 ba · 1,250 sqft · SingleFamily · 94 Days on market

Built 1900 4,792 sqft lot $120/sqft · 41% below area Est $255k · 41% under ↓ 14% 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).

• ARV discount +15.0/15.0
• Cash flow +10.8/30.0
• Appreciation +10.0/10.0
• Schools +4.2/10.0
• Livability +3.7/5.0
• 1% rule +3.2/10.0
• DSCR +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Charming opportunity in the heart of Kettle Falls! This 1,250 sq ft property, originally built in 1900, offers character, flexible living space, and plenty of potential. The layout works well for a live/work setup, making it ideal for a home office, small business, or creative space (buyer to verify zoning and permitted uses). Located within city limits and close to local amenities, the property is also just minutes from Lake Roosevelt and outdoor recreation. Whether you're looking for a unique residence, investment property, or a place to combine living and working, this versatile space is ready for your vision.

Key facts

• Outdoor recreation
• Creative space
• Local amenities

Tags

• LIVE WORK SETUP
• HOME OFFICE
• CREATIVE SPACE
• LOCAL AMENITIES
• MINUTES FROM LAKE ROOSEVELT
• OUTDOOR RECREATION

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $-68 ($-816/yr) — negative.
• To cash-flow at today's rent, offer at most $140k (6.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $123k (18.3% below list).
• Recommended offer: $123k (18.3% below list) — sets the bar for 1% rule.
• Cap rate 5.7% vs local median 1.5% in Kettle Falls — 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 73/100 on livability (#194 in WA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, crime A; Watch: amenities F, commute F, employment F.
• Kettle Falls School District (rural): math 37% / reading 58% proficiency, ranked #171 of 291 in WA (top 59%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Kettle Falls Elementary School (304 students, 62% FRL); Kettle Falls Middle School (237 students, 68% FRL); Kettle Falls High School (237 students, 65% FRL) — zoned schools average 65% FRL vs 46% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 120 active listings in the ZIP; 341 units permitted in Stevens County in 2024 (72 in 5+ unit buildings).

Forward outlook

• In year one you build about $16k of equity ($1k loan paydown + $15k appreciation (10.0% local appreciation)).
• Stevens County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $42k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$41k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 94 days — a 9% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $25k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $122,609 (18.3% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 94 days. Have you received any prior offers? Is the seller open to a 18% concession, seller financing, or rate buy-down credit?
3. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 0.82% ✗
• Cap rate: 5.75%
• Cash-on-cash: -1.94%
• DSCR: 0.91
• GRM: 10.2

CMA / ARV

• ARV (median comp): $255,451
• List price: $150,000
• Delta: -41.28%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
690 S Larch St	0.15mi	3/2.0 (+1)	1,164 (-7%)	8mo	$300,000	$258	66
150 E 9th Ave	0.28mi	3/1.5 (+1)	1,144 (-8%)	8mo	$260,000	$227	59
840 S Larch St	0.26mi	3/1.0 (+1)	1,320 (+6%)	20mo	$265,000	$201	57
925 Larch St	0.29mi	3/2.0 (+1)	1,188 (-5%)	16mo	$255,000	$215	55
830 Juniper St	0.35mi	3/2.0 (+1)	1,092 (-13%)	2mo	$310,000	$284	52
310 E 5th Ave	0.15mi	3/2.0 (+1)	1,100 (-12%)	17mo	$289,000	$263	50
1235 W Cedar Dr	0.74mi	3/2.0 (+1)	1,190 (-5%)	14mo	$249,000	$209	37

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 22.9%
• Equity multiple: 2.84×
• Total profit: $77,382
• Equity at exit: $135,132

10-year hold

• IRR: 20.5%
• Equity multiple: 6.51×
• Total profit: $231,319
• Equity at exit: $291,417

Cash invested: $42,000 (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 99141

• Home prices YoY: 10.2%
• Active inventory: 120
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $1,226 medium
• Mortgage (P&I): −$787
• Tax est. 1.5%: −$188 /mo · $2,250/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$257
• Net cashflow: $-68

Break-even live

Break-even rent $1,312

Max offer price $140,161

Occupancy floor —

Sensitivity live

Price	-10% $36	-5% $-16	+0% $-68	+5% $-120	+10% $-172
Rent	-10% $-165	-5% $-116	+0% $-68	+5% $-20	+10% $29
Rate	-1.0pp $8	-0.5pp $-30	base $-68	+0.5pp $-107	+1.0pp $-146

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Listing history 26 events

1. 2026-06-22
   days on market $150,000 Active 94 DOM
2. 2026-06-21
   days on market $150,000 Active 93 DOM
3. 2026-06-21
   days on market $150,000 Active 92 DOM
4. 2026-06-18
   days on market $150,000 Active 90 DOM
5. 2026-06-17
   days on market $150,000 Active 89 DOM
6. 2026-06-16
   days on market $150,000 Active 88 DOM
7. 2026-06-15
   days on market $150,000 Active 87 DOM
8. 2026-06-15
   days on market $150,000 Active 86 DOM
9. 2026-06-13
   days on market $150,000 Active 85 DOM
10. 2026-06-12
    days on market $150,000 Active 84 DOM
11. 2026-06-09
    days on market $150,000 Active 81 DOM
12. 2026-06-08
    days on market $150,000 Active 80 DOM
13. 2026-06-08
    days on market $150,000 Active 79 DOM
14. 2026-06-07
    days on market $150,000 Active 78 DOM
15. 2026-06-03
    days on market $150,000 Active 75 DOM
16. 2026-06-02
    days on market $150,000 Active 74 DOM
17. 2026-06-01
    days on market $150,000 Active 73 DOM
18. 2026-05-31
    days on market $150,000 Active 72 DOM
19. 2026-04-23
    price $150,000 620-char remark

    Show marketing remark (620 chars)

    Charming opportunity in the heart of Kettle Falls! This 1,250 sq ft property, originally built in 1900, offers character, flexible living space, and plenty of potential. The layout works well for a live/work setup, making it ideal for a home office, small business, or creative space (buyer to verify zoning and permitted uses). Located within city limits and close to local amenities, the property is also just minutes from Lake Roosevelt and outdoor recreation. Whether you're looking for a unique residence, investment property, or a place to combine living and working, this versatile space is ready for your vision.

20. 2026-04-23
    price $150,000 620-char remark

    Show marketing remark (620 chars)

    Charming opportunity in the heart of Kettle Falls! This 1,250 sq ft property, originally built in 1900, offers character, flexible living space, and plenty of potential. The layout works well for a live/work setup, making it ideal for a home office, small business, or creative space (buyer to verify zoning and permitted uses). Located within city limits and close to local amenities, the property is also just minutes from Lake Roosevelt and outdoor recreation. Whether you're looking for a unique residence, investment property, or a place to combine living and working, this versatile space is ready for your vision.

21. 2026-04-09
    price $160,000 620-char remark

    Show marketing remark (620 chars)

    Charming opportunity in the heart of Kettle Falls! This 1,250 sq ft property, originally built in 1900, offers character, flexible living space, and plenty of potential. The layout works well for a live/work setup, making it ideal for a home office, small business, or creative space (buyer to verify zoning and permitted uses). Located within city limits and close to local amenities, the property is also just minutes from Lake Roosevelt and outdoor recreation. Whether you're looking for a unique residence, investment property, or a place to combine living and working, this versatile space is ready for your vision.

22. 2026-04-09
    price $160,000 620-char remark

    Show marketing remark (620 chars)

    Charming opportunity in the heart of Kettle Falls! This 1,250 sq ft property, originally built in 1900, offers character, flexible living space, and plenty of potential. The layout works well for a live/work setup, making it ideal for a home office, small business, or creative space (buyer to verify zoning and permitted uses). Located within city limits and close to local amenities, the property is also just minutes from Lake Roosevelt and outdoor recreation. Whether you're looking for a unique residence, investment property, or a place to combine living and working, this versatile space is ready for your vision.

23. 2026-03-20
    price $165,000 620-char remark

    Show marketing remark (620 chars)

    Charming opportunity in the heart of Kettle Falls! This 1,250 sq ft property, originally built in 1900, offers character, flexible living space, and plenty of potential. The layout works well for a live/work setup, making it ideal for a home office, small business, or creative space (buyer to verify zoning and permitted uses). Located within city limits and close to local amenities, the property is also just minutes from Lake Roosevelt and outdoor recreation. Whether you're looking for a unique residence, investment property, or a place to combine living and working, this versatile space is ready for your vision.

24. 2026-03-20
    price $165,000 620-char remark

    Show marketing remark (620 chars)

    Charming opportunity in the heart of Kettle Falls! This 1,250 sq ft property, originally built in 1900, offers character, flexible living space, and plenty of potential. The layout works well for a live/work setup, making it ideal for a home office, small business, or creative space (buyer to verify zoning and permitted uses). Located within city limits and close to local amenities, the property is also just minutes from Lake Roosevelt and outdoor recreation. Whether you're looking for a unique residence, investment property, or a place to combine living and working, this versatile space is ready for your vision.

25. 2026-03-20
    listed $175,000 Active 620-char remark

    Show marketing remark (620 chars)

    Charming opportunity in the heart of Kettle Falls! This 1,250 sq ft property, originally built in 1900, offers character, flexible living space, and plenty of potential. The layout works well for a live/work setup, making it ideal for a home office, small business, or creative space (buyer to verify zoning and permitted uses). Located within city limits and close to local amenities, the property is also just minutes from Lake Roosevelt and outdoor recreation. Whether you're looking for a unique residence, investment property, or a place to combine living and working, this versatile space is ready for your vision.

26. 2026-03-11
    listed $175,000 Active 620-char remark

    Show marketing remark (620 chars)

    Charming opportunity in the heart of Kettle Falls! This 1,250 sq ft property, originally built in 1900, offers character, flexible living space, and plenty of potential. The layout works well for a live/work setup, making it ideal for a home office, small business, or creative space (buyer to verify zoning and permitted uses). Located within city limits and close to local amenities, the property is also just minutes from Lake Roosevelt and outdoor recreation. Whether you're looking for a unique residence, investment property, or a place to combine living and working, this versatile space is ready for your vision.

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

Taxation est. · year 1

• Rental income: $14,713
• − Mortgage interest: −$8,402
• − Property taxes: −$2,250
• − Insurance: −$750
• − Repairs & maintenance: −$1,177
• − Management: −$1,177
• − Depreciation: −$4,364
• Taxable loss: −$3,407
• Est. tax savings @ 24.0%: +$818
• After-tax cash flow: $2/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: Kettle Falls School District
• NCES district ID: 5303990
• Math proficiency: 37% ▼ -4.00%
• Reading proficiency: 58% ▼ -1.00%
• Median HH income: $43,206
• Composite: 42.14/100
• National rank: #7028
• State rank: #171 of 291 in WA

Livability — Kettle Falls

• Score: 73/100
• State rank: #194
• US rank: #5269

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Kettle Falls, WA
• Population (ZIP): 6,272

Population outlook (Stevens County) Hauer SSP2

• Today (2025): 43,696 people
• By 2030: 43,203 · -1.1%
• By 2040: 41,190 · -5.7%
• By 2050: 38,231 · -12.5%
• By 2075: 31,260 · -28.5%
• By 2100: 22,931 · -47.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Two or more races 5% Hispanic / Latino 4% Native American 2%
• Common ancestry: Portuguese 11% Lithuanian 5% Iranian 5%
• Foreign-born: 3% · Canada
• Languages at home: 97% English-only · Spanish 1%

Political lean MEDSL · Stevens

• 2024 margin: Solid R (+44.1) · D 26.7% · R 70.8% · Other 2.5%
• 2008→2024 swing: -23.4pp toward R · 2008: -20.7pp · 2024: -44.1pp
• All cycles: 2024: R+44.1 2020: R+42.1 2016: R+40.8 2012: R+27.7 2008: R+20.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 44.15%
• Current HPI: 476.88
• 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

-14.3% since first listed

8 events — show timeline

• 2026-04-23 Price Changed $150,000 SPOKANEMLS as Distributed by MLS Grid
• 2026-04-23 Price Changed $150,000 NEWMLS
• 2026-04-09 Price Changed $160,000 NEWMLS
• 2026-04-09 Price Changed $160,000 SPOKANEMLS as Distributed by MLS Grid
• 2026-03-20 Price Changed $165,000 SPOKANEMLS as Distributed by MLS Grid
• 2026-03-20 Price Changed $165,000 NEWMLS
• 2026-03-20 Listed $175,000 SPOKANEMLS as Distributed by MLS Grid
• 2026-03-11 Listed $175,000 NEWMLS