4315 Nordum Rd

Everson, WA 98247

$350,000D

3 bd · 0.5 ba · 735 sqft · Built 1999 · SingleFamily · Active · 26 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,126/mo
• Mortgage (P&I): −$1,835
• Tax + insurance: −$400
• HOA: −$0
• Vac / Maint / Mgmt: −$447
• Net cashflow: $-556/mo
• Annual: $-6,670/yr
• Cap rate: 4.39%
• Cash-on-cash: -6.81%
• DSCR: 0.70
• 1% rule: 0.61%
• Cash to close: $98,000

Investor read

• This is a 3-bed/0.5-bath single-family listed at $350k.
• At list price, monthly cash flow is $-556 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $252k (28.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $213k (39.2% below list).
• It's been on market 26 days — a 2% lower offer ($345k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $213k (39.2% below list) — sets the bar for 1% rule.
• In year one you build about $37k of equity ($2k loan paydown + $35k appreciation (10.0% local appreciation)).
• Location reads 67/100 on livability (#294 in WA) — a middle-class / working-renter tenant base. Strengths: crime A+, commute A, housing A; Watch: employment C-, cost of living C-, health & safety D.
• Nooksack Valley School District (rural): math 59% / reading 65% proficiency, ranked #50 of 291 in WA (top 17%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Sumas Elementary (283 students, 68% FRL); Nooksack Valley Middle School (419 students, 64% FRL); Nooksack Valley High School (507 students, 59% FRL) — zoned schools average 64% FRL vs 47% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 64 active listings in the ZIP; solid renter incomes; 1,190 units permitted in Whatcom County in 2024 (327 in 5+ unit buildings).
• Whatcom County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$60k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Cap rate 4.4% vs local median 2.2% in Everson — 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

• 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?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.