208 S Victoria St · Chewelah, WA 99109

$179,000

2 bd · 1.0 ba · 736 sqft · SingleFamily public records · 76 Days on market

Built 1999 7,841 sqft lot $243/sqft · 23% below area Est $233k · 23% under

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Why this score? — see what drove the D- 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 +7.6/30.0
• Schools +4.4/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.7/10.0
• 1% rule +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming one-level home on a spacious corner lot in the heart of Chewelah! Inside you’ll find a bright living room with beautiful dark flooring that flows into the main bedroom, a roomy kitchen, and a full bath. Vinyl siding and a durable metal roof keep maintenance easy, while off-street parking adds convenience. The detached garage at the back of the lot offers single-car parking, a workbench, storage, and even an insulated cold room. Plenty of potential remains with space to expand if desired. Mature trees along the south side provide privacy and welcome shade. A comfortable home with room to grow.

Key facts

• Durable metal roof
• Insulated cold room
• Bright living room

Tags

• CORNER LOT
• BRIGHT LIVING ROOM
• DURABLE METAL ROOF
• OFF-STREET PARKING
• DETACHED GARAGE
• INSULATED COLD ROOM

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $179k.

Deal economics

• At list price, monthly cash flow is $-214 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $141k (21.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $113k (36.8% below list).
• Recommended offer: $113k (36.8% below list) — sets the bar for 1% rule.
• Cap rate 4.9% vs local median 1.7% in Chewelah — 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 78/100 on livability (#116 in WA, #2,374 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, cost of living A+, housing A+; Watch: employment D+, commute F.
• Chewelah School District (rural): math 39% / reading 63% proficiency, ranked #153 of 291 in WA (top 53%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 132 active listings in the ZIP; 341 units permitted in Stevens County in 2024 (72 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Stevens County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 76 days — a 6% lower offer ($168k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 4y 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 $50k; list at $179k implies a 258% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $113,083 (36.8% 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 76 days. Have you received any prior offers? Is the seller open to a 37% concession, seller financing, or rate buy-down credit?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.63% ✗
• Cap rate: 4.86%
• Cash-on-cash: -5.13%
• DSCR: 0.77
• GRM: 13.2

CMA / ARV

• ARV (median comp): $233,284
• List price: $179,000
• Delta: -23.27%
• Verdict: UNDERPRICED
• Comps: 15 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
605 W King Ave	0.13mi	3/1.0 (+1)	737 (+0%)	6mo	$50,000	$68	84
613 W King Ave	0.11mi	2/1.0	800 (+9%)	3mo	$235,500	$294	78
504 W Robert Ave	0.16mi	3/1.0 (+1)	818 (+11%)	4mo	$237,000	$290	66
805 W Main Ave	0.11mi	2/1.0	840 (+14%)	13mo	$235,000	$280	60

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -25.1%
• Equity multiple: 0.15×
• Total profit: $-42,722
• Equity at exit: $26,689

10-year hold

• IRR: -21.2%
• Equity multiple: -0.10×
• Total profit: $-55,037
• Equity at exit: $15,477

Cash invested: $50,120 (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 99109

• Home prices YoY: -19.2%
• Active inventory: 132
• Price-to-rent: 13.2×

Monthly cashflow live

• Estimated rent: $1,131 medium
• Mortgage (P&I): −$939
• Tax from tax record: −$94 /mo · $1,134/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$237
• Net cashflow: $-214

Break-even live

Break-even rent $1,402

Max offer price $141,129

Occupancy floor —

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: $44,750
• Closing costs: $5,370
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-18
   days on market $179,000 Active 76 DOM
2. 2026-06-17
   days on market $179,000 Active 75 DOM
3. 2026-06-16
   days on market $179,000 Active 74 DOM
4. 2026-06-15
   days on market $179,000 Active 73 DOM
5. 2026-06-15
   days on market $179,000 Active 72 DOM
6. 2026-06-13
   days on market $179,000 Active 71 DOM
7. 2026-06-12
   days on market $179,000 Active 70 DOM
8. 2026-06-09
   days on market $179,000 Active 67 DOM
9. 2026-06-08
   days on market $179,000 Active 66 DOM
10. 2026-06-08
    days on market $179,000 Active 65 DOM
11. 2026-06-07
    days on market $179,000 Active 64 DOM
12. 2026-06-03
    days on market $179,000 Active 61 DOM
13. 2026-06-02
    days on market $179,000 Active 60 DOM
14. 2026-06-01
    days on market $179,000 Active 59 DOM
15. 2026-05-31
    days on market $179,000 Active 58 DOM
16. 2026-04-03
    historical

    Show marketing remark (614 chars)

    Charming one-level home on a spacious corner lot in the heart of Chewelah! Inside you’ll find a bright living room with beautiful dark flooring that flows into the main bedroom, a roomy kitchen, and a full bath. Vinyl siding and a durable metal roof keep maintenance easy, while off-street parking adds convenience. The detached garage at the back of the lot offers single-car parking, a workbench, storage, and even an insulated cold room. Plenty of potential remains with space to expand if desired. Mature trees along the south side provide privacy and welcome shade. A comfortable home with room to grow.

17. 2026-04-03
    listed $179,000 Active 614-char remark

    Show marketing remark (614 chars)

    Charming one-level home on a spacious corner lot in the heart of Chewelah! Inside you’ll find a bright living room with beautiful dark flooring that flows into the main bedroom, a roomy kitchen, and a full bath. Vinyl siding and a durable metal roof keep maintenance easy, while off-street parking adds convenience. The detached garage at the back of the lot offers single-car parking, a workbench, storage, and even an insulated cold room. Plenty of potential remains with space to expand if desired. Mature trees along the south side provide privacy and welcome shade. A comfortable home with room to grow.

18. 2026-01-13
    listed $199,900 Active
19. 2025-12-31
    historical
20. 2025-09-09
    listed $199,900 Active
21. 2022-10-01
    historical
22. 2022-08-23
    price $245,000
23. 2022-06-23
    listed $259,900 New
24. 2018-03-07
    soldstatus $50,000
25. 2004-09-17
    soldstatus $50,000

ⓘ 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: $1,134 · $94/mo
• Projected year-2 tax: $1,754 · $146/mo
• Expected delta: +$621/yr (+$52/mo · 54.8%)

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

Climate risk First Street

• 🌊 Flood 2/10 Low FEMA zone X · 9% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 Heat 3/10 Moderate 7 d/yr ≥96°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 9/10 Extreme 14 unhealthy d/yr today · 16 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,570
• − Mortgage interest: −$10,027
• − Property taxes: −$1,134
• − Insurance: −$895
• − Repairs & maintenance: −$1,086
• − Management: −$1,086
• − Depreciation: −$5,207
• Taxable loss: −$5,864
• Est. tax savings @ 24.0%: +$1,407
• After-tax cash flow: $-1,165/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: Chewelah School District
• NCES district ID: 5301260
• Math proficiency: 39% ▼ -9.00%
• Reading proficiency: 63% ▬ 0.00%
• Median HH income: $36,173
• Composite: 44.23/100
• National rank: #6191
• State rank: #153 of 291 in WA

Livability — Chewelah

• Score: 78/100
• State rank: #116
• US rank: #2374

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Chewelah, WA
• Population (ZIP): 5,075

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 (84%)
• Race & ethnicity: White 84% Two or more races 8% Native American 3% Hispanic / Latino 2% Pacific Islander 1%
• Common ancestry: Portuguese 6% Italian 4% Lithuanian 2%
• Foreign-born: 1% · Canada
• Languages at home: 98% 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: ▼ -74.63%
• Current HPI: 313.3997
• 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

+258.0% since first listed

10 events — show timeline

• 2026-04-03 Listed $179,000 SPOKANEMLS as Distributed by MLS Grid
• 2026-04-03 Listing Removed — SPOKANEMLS as Distributed by MLS Grid
• 2026-01-13 Listed $199,900 SPOKANEMLS as Distributed by MLS Grid
• 2025-12-31 Listing Removed — SPOKANEMLS as Distributed by MLS Grid
• 2025-09-09 Listed $199,900 SPOKANEMLS as Distributed by MLS Grid
• 2022-10-01 Listing Removed — SPOKANEMLS as Distributed by MLS Grid
• 2022-08-23 Price Changed $245,000 SPOKANEMLS as Distributed by MLS Grid
• 2022-06-23 Listed $259,900 SPOKANEMLS as Distributed by MLS Grid
• 2018-03-07 Sold (Public Records) $50,000 Public Records
• 2004-09-17 Sold (Public Records) $50,000 Public Records

Property tax history

+5.0%/yr

Latest (2026): $1,134 · -1.4% YoY. Source: county tax records.