100 Lake Chelan Shores Dr Unit 15-8F

Chelan, WA 98816

$1,500C-

3 bd · 3.0 ba · 1,368 sqft · Built 1995 · Timeshare · Active · 84 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,886/mo
• Mortgage (P&I): −$8
• Tax + insurance: −$2
• HOA: −$204
• Vac / Maint / Mgmt: −$396
• Net cashflow: $1,276/mo
• Annual: $15,310/yr
• Cap rate: 1026.95%
• Cash-on-cash: 3645.22%
• DSCR: 163.19
• 1% rule: 125.75%
• Cash to close: $420

Investor read

• This is a 3-bed/3.0-bath timeshare listed at $2k.
• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $2k).
• It's been on market 84 days — a 6% lower offer ($1k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $1k (6.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $10 of loan paydown is wiped out by about $45 of value loss. Plan a longer hold.
• Location reads 83/100 on livability (#50 in WA, #900 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, health & safety A+, housing A-; Watch: cost of living D-.
• Lake Chelan School District (town): math 41% / reading 55% proficiency, ranked #161 of 291 in WA (top 55%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 338 active listings in the ZIP; 762 units permitted in Chelan County in 2024 (377 in 5+ unit buildings).
• Chelan County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 2 sale attempts since 3y ago; this cycle's ask has dropped $2k (50%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $420 cash investment doubles in ~1 year — after that, you're playing with house money.
• Climate carrying-cost: severe wildfire risk; extreme-heat days projected 8→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 1027.0% vs local median 0.5% in Chelan — 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 84 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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.
• 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.