816 S Chelan Ave · Wenatchee, WA 98801

$249,000

5 bd · 3.0 ba · 2,344 sqft · SingleFamily public records · 45 Days on market

Built 1943 7,405 sqft lot $106/sqft · 40% below area Est $416k · 40% under

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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 +27.0/30.0
• ARV discount +15.0/15.0
• DSCR +9.4/10.0
• 1% rule +6.6/10.0
• Schools +4.2/10.0
• Livability +3.6/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Permits Approved – Shovel-Ready Duplex + Upside Fully approved plans (BPC-25-163) to convert this Craftsman into a legal 2-unit duplex—start building immediately with no entitlement risk. Interior demo complete. Features include 8’ basement ceilings, two electric meters/panels, new roof, and a level ~7,400 SF lot with alley access and 4+ off-street parking. Efficient layout (~920 SF main + ~840 SF lower) designed for strong rental income. RH zoning (High Density Residential) supports additional density potential (buyer to verify). Rare opportunity offering a de-risked, permit-ready project with near-term income and long-term upside.

Key facts

• Alley access
• Approved plans
• Shovel-ready duplex

Tags

• SHOVEL-READY DUPLEX
• APPROVED PLANS
• INTERIOR DEMO COMPLETE
• LEVEL LOT
• ALLEY ACCESS
• OFF-STREET PARKING

Property features AI

Finance

• Other: Zoned by city; Possible use: Residential; Lot features include alley, curbs, paved streets, and sidewalk
• Financial info: Eligible financing: Cash, Conventional, FHA, Rehab Loan; Multi-unit property with 3 total units; Some financial fields show zero or require verification (income/adjusted income listed as 0)

Exterior

• Parking: RV parking available
• Security: Fully fenced; Security gate
• Utilities: Electric power; Public water (PUD/City); Sewer connected (PUD/City)
• Home design: Triplex residential income property; Three stories; Building name: Peachey; Property listed as a fixer
• Construction: Standard frame construction; Wood construction materials; Composition roof; Poured concrete foundation; Built on a 50 x 150 lot (0.17 acres)
• Exterior features: Wood exterior products; Cable TV available; High-speed internet available; Gated entry; RV parking

Interior

• Bedrooms: Two 2-bedroom units; One 1-bedroom unit
• Flooring: Concrete flooring; Softwood flooring
• Bathrooms: Two units with 2 bathrooms each; One unit with 1 bathroom
• Heating & cooling: No heating; No cooling
• Interior features: Basement; Has a view; Fully fenced lot; Security gate

What this means for you Summary

Snapshot

• This is a 5-bed/3.0-bath single-family listed at $249k.

Deal economics

• At list price, monthly cash flow is $699 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $249k).
• Recommended offer: $242k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.7% vs local median 2.9% in Wenatchee — 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 72/100 on livability (#211 in WA) — a middle-class / working-renter tenant base. Strengths: health & safety A+, housing A, amenities B; Watch: crime C-, commute F.
• Wenatchee School District (urban): math 38% / reading 54% proficiency, ranked #175 of 291 in WA (top 60%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Wenatchee High School (2,076 students, 56% FRL) — zoned schools at 56% FRL track the district average.
• Market conditions: Rents flat; 326 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 762 units permitted in Chelan County in 2024 (377 in 5+ unit buildings).
• This rent runs 42% of the median local income ($81k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Chelan County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 45 days — a 3% lower offer ($242k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Risks & watch-outs

• Watch-outs: built in 1943 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $241,530 (3.0% below list)

Questions for the listing agent

1. It's been on market 45 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1943 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.16% ✓
• Cap rate: 9.66%
• Cash-on-cash: 12.03%
• DSCR: 1.54
• GRM: 7.2

CMA / ARV

• ARV (median comp): $416,027
• List price: $249,000
• Delta: -40.15%
• Verdict: UNDERPRICED
• Comps: 12 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
706 Methow St	0.19mi	4/2.0 (-1)	2,300 (-2%)	3mo	$209,000	$91	76
741 Methow St	0.10mi	4/1.5 (-1)	2,160 (-8%)	6mo	$349,900	$162	66
721 Yakima St	0.58mi	4/2.0 (-1)	2,316 (-1%)	8mo	$491,000	$212	55
529 Douglas St	0.72mi	4/2.0 (-1)	2,389 (+2%)	2mo	$520,000	$218	53
905 Orondo	0.68mi	4/2.0 (-1)	2,300 (-2%)	6mo	$445,000	$193	51
529 Crawford Ave	0.61mi	5/2.0	2,201 (-6%)	9mo	$550,000	$250	50
1609 Russell St	0.71mi	4/2.5 (-1)	2,376 (+1%)	10mo	$502,000	$211	49
912 Okanogan Ave	0.35mi	4/1.5 (-1)	2,016 (-14%)	3mo	$325,000	$161	47
1315 Poe St	0.68mi	5/2.0	2,535 (+8%)	9mo	$512,500	$202	43
1013 Glenwood Ave	0.71mi	4/2.5 (-1)	2,056 (-12%)	2mo	$555,000	$270	38
1104 Rosewood Ave	0.71mi	4/2.0 (-1)	2,088 (-11%)	3mo	$520,000	$249	37
1101 Fuller St	0.58mi	6/2.0 (+1)	2,686 (+15%)	8mo	$520,000	$194	33

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 · 0.75% rent growth · sell at horizon

5-year hold

• IRR: -0.9%
• Equity multiple: 0.97×
• Total profit: $-2,247
• Equity at exit: $37,127

10-year hold

• IRR: 6.4%
• Equity multiple: 1.43×
• Total profit: $30,159
• Equity at exit: $21,529

Cash invested: $69,720 (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 98801

• Rents YoY: 0.8%
• Active inventory: 326
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $2,884 medium
• Mortgage (P&I): −$1,306
• Tax from tax record: −$170 /mo · $2,037/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$606
• Net cashflow: $699

Break-even live

Break-even rent $1,999

Max offer price $249,000

Occupancy floor 71%

Sensitivity live

Price	-10% $840	-5% $770	+0% $699	+5% $629	+10% $558
Rent	-10% $471	-5% $585	+0% $699	+5% $813	+10% $927
Rate	-1.0pp $825	-0.5pp $763	base $699	+0.5pp $635	+1.0pp $569

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: $62,250
• Closing costs: $7,470
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1315 Ormiston St Wenatchee, WA	4.0	2.0	1835	$2,995	$1.63	44d	1	0.71mi
450 6th St NE East Wenatchee, WA	4.0	2.5	1800	$2,500	$1.39	44d	1	1.15mi

Listing history 14 events

1. 2026-06-19
   days on market $249,000 Active 45 DOM
2. 2026-06-18
   days on market $249,000 Active 44 DOM
3. 2026-06-17
   days on market $249,000 Active 43 DOM
4. 2026-06-16
   days on market $249,000 Active 42 DOM
5. 2026-06-15
   days on market $249,000 Active 41 DOM
6. 2026-06-14
   days on market $249,000 Active 39 DOM
7. 2026-06-13
   days on market $249,000 Active 38 DOM
8. 2026-06-10
   days on market $249,000 Active 36 DOM
9. 2026-06-09
   days on market $249,000 Active 35 DOM
10. 2026-06-08
    days on market $249,000 Active 34 DOM
11. 2026-06-07
    days on market $249,000 Active 33 DOM
12. 2026-06-05
    days on market $249,000 Active 30 DOM
13. 2026-06-03
    status $249,000 Active 28 DOM
14. 2026-04-28
    listed $249,000 Active

ⓘ 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: $2,037 · $170/mo
• Projected year-2 tax: $2,440 · $203/mo
• Expected delta: +$403/yr (+$34/mo · 19.8%)

ⓘ 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 (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 Heat 4/10 Moderate 7 d/yr ≥96°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 25 unhealthy d/yr today · 25 by 30 yrs out

Taxation est. · year 1

• Rental income: $34,610
• − Mortgage interest: −$13,948
• − Property taxes: −$2,037
• − Insurance: −$1,245
• − Repairs & maintenance: −$2,769
• − Management: −$2,769
• − Depreciation: −$7,244
• Taxable income: $4,599
• Est. tax owed @ 24.0%: −$1,104
• After-tax cash flow: $7,287/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: Wenatchee School District
• NCES district ID: 5309660
• Math proficiency: 38% ▲ 1.00%
• Reading proficiency: 54% ▲ 2.00%
• Median HH income: $51,059
• Composite: 41.72/100
• National rank: #7189
• State rank: #175 of 291 in WA

Livability — Wenatchee

• Score: 72/100
• State rank: #211
• US rank: #6003

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wenatchee, WA
• County: Chelan County · 53,031 people
• City population: 45,426
• Metro: Wenatchee, WA
• Population (ZIP): 45,426
• Household income: $81,488
• Rent vs Own: 41.2% rent · 58.8% own
• Severe rent burden: 1278.0

Population outlook (Chelan County) Hauer SSP2

• Today (2025): 81,630 people
• By 2030: 84,312 · +3.3%
• By 2040: 88,619 · +8.6%
• By 2050: 91,915 · +12.6%
• By 2075: 99,409 · +21.8%
• By 2100: 100,032 · +22.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (61%)
• Race & ethnicity: White 61% Hispanic / Latino 33% Two or more races 14% Native American 2%
• Hispanic origin (detail): Mexican 28%
• Common ancestry: Portuguese 4% Italian 3% Slovak 3%
• Foreign-born: 14% · Canada, Dominican Republic
• Languages at home: 72% English-only · Spanish 27%

Political lean MEDSL · Chelan

• 2024 margin: Lean R (+9.5) · D 43.9% · R 53.4% · Other 2.7%
• 2008→2024 swing: +2.5pp toward D · 2008: -12.0pp · 2024: -9.5pp
• All cycles: 2024: R+9.5 2020: R+7.8 2016: R+15.7 2012: R+16.9 2008: R+12.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -569.39%
• Current HPI: 227.1555
• Rent YoY: ▲ 0.75%
• Metro: Wenatchee, 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

3 events — show timeline

• 2026-06-02 Relisted — NWMLS as Distributed by MLS Grid
• 2026-05-26 Pending — NWMLS as Distributed by MLS Grid
• 2026-04-28 Listed $249,000 NWMLS as Distributed by MLS Grid

Property tax history

+6.2%/yr

Latest (2026): $2,037 · -20.0% YoY. Source: county tax records.