104 E 5th Ave · Warden, WA 98857

$140,000

4 bd · 4.0 ba · 3,642 sqft · SingleFamily public records · 8 Days on market

Built 1959 4,548 sqft lot $38/sqft · 86% below area Est $253k · 45% under

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Why this score? — see what drove the A- 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 +29.8/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.4/10.0
• Appreciation +5.5/10.0
• Schools +3.4/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

3 bedroom, 1 bath home in Warden downtown near schools, and shopping locations. Great investment opportunity or starter home, schedule a showing today!

Key facts

• 4,548 sq ft lot
• Built 1959
• Listed 8 days

Property features AI

Finance

• Other: Lot size approximately 0.1044 acres (per county records); Living area reported as 900 square feet (per county records)
• Financial info: Listing terms: Cash, Conventional, Rehab Loan

Exterior

• Parking: Driveway; Off-street parking
• Utilities: Public water (City of Warden); Sewer connected; Electric service (Grant County PUD)
• Home design: Single-family residence, one story; Built on lot; House structure
• Construction: Wood construction; Composition roof; Poured concrete foundation; Effective year built 1959
• Exterior features: Wood exterior; Wood products

Interior

• Kitchen: Stove/Range included
• Bedrooms: 3 bedrooms (all on the main level)
• Flooring: Concrete; Laminate; Vinyl
• Bathrooms: 1 full bathroom (on the main level)
• Heating & cooling: Wall furnace heating; Window air conditioning unit(s)
• Interior features: Water heater (electric, located in crawl space)
• Laundry & utility: Water heater in crawl space

What this means for you Summary

Snapshot

• This is a 4-bed/4.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $516 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).

Location & tenants

• Location reads 63/100 on livability (#382 in WA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: health & safety C-, schools F, amenities F.
• Warden School District (town): math 30% / reading 44% proficiency, ranked #240 of 291 in WA (top 82%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 70% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 40 active listings in the ZIP; 559 units permitted in Grant County in 2024 (35 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($968 loan paydown + $1k appreciation (1.0% local appreciation)).
• Grant County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (1.0% appreciation + 3.0% rent growth), your $39k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 21y 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.

Risks & watch-outs

• Watch-outs: built in 1959 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $140,000

Questions for the listing agent

1. Built in 1959 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 1.34% ✓
• Cap rate: 10.71%
• Cash-on-cash: 15.79%
• DSCR: 1.70
• GRM: 6.2

CMA / ARV

• ARV (median comp): $252,991
• List price: $140,000
• Delta: -44.66%
• Verdict: UNDERPRICED
• Comps: 19 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
113 E 6th St	0.09mi	5/2.0 (+1)	3,440 (-6%)	2mo	$290,000	$84	72

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

Projected returns pro-forma

1.01% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 17.8%
• Equity multiple: 1.91×
• Total profit: $35,598
• Equity at exit: $47,897

10-year hold

• IRR: 21.0%
• Equity multiple: 3.55×
• Total profit: $99,828
• Equity at exit: $63,730

Cash invested: $39,200 (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 98857

• Home prices YoY: 0.5%
• Active inventory: 40
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $1,877 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$175 /mo · $2,094/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$394
• Net cashflow: $516

Break-even live

Break-even rent $1,224

Max offer price $140,000

Occupancy floor 68%

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-05-08
   status Pending
2. 2026-04-30
   listed $140,000 Active
3. 2011-10-31
   soldstatus $125,000
4. 2011-10-28
   soldstatus $125,000
5. 2011-08-15
   listed $159,000
6. 2005-12-26
   soldstatus $26,000
7. 2005-08-23
   listed $29,950

ⓘ 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: $2,094 · $175/mo
• Projected year-2 tax: $2,094 · $175/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥96°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 9/10 Extreme 18 unhealthy d/yr today · 19 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,525
• − Mortgage interest: −$7,842
• − Property taxes: −$2,094
• − Insurance: −$700
• − Repairs & maintenance: −$1,802
• − Management: −$1,802
• − Depreciation: −$4,073
• Taxable income: $4,212
• Est. tax owed @ 24.0%: −$1,011
• After-tax cash flow: $5,180/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: Warden School District
• NCES district ID: 5309510
• Math proficiency: 30% ▼ -2.00%
• Reading proficiency: 44% ▲ 5.00%
• Median HH income: $43,852
• Composite: 33.94/100
• National rank: #10336
• State rank: #240 of 291 in WA

Livability — Warden

• Score: 63/100
• State rank: #382
• US rank: #15073

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Warden, WA
• Population (ZIP): 3,935

Population outlook (Grant County) Hauer SSP2

• Today (2025): 99,356 people
• By 2030: 102,107 · +2.8%
• By 2040: 108,318 · +9.0%
• By 2050: 114,712 · +15.5%
• By 2075: 131,376 · +32.2%
• By 2100: 146,163 · +47.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority Hispanic (54%)
• Race & ethnicity: Hispanic / Latino 54% White 43% Two or more races 14% Asian 1%
• Hispanic origin (detail): Mexican 46%
• Common ancestry: Portuguese 2% Slovak 1% Italian 1%
• Foreign-born: 18% · Canada, South Korea
• Languages at home: 57% English-only · Spanish 41% German/W. Germanic 1%

Political lean MEDSL · Grant

• 2024 margin: Solid R (+37.5) · D 30.0% · R 67.4% · Other 2.6%
• 2008→2024 swing: -9.9pp toward R · 2008: -27.5pp · 2024: -37.5pp
• All cycles: 2024: R+37.5 2020: R+34.4 2016: R+37.9 2012: R+32.6 2008: R+27.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 1.01%
• Current HPI: 216.4192
• 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

+367.4% since first listed

7 events — show timeline

• 2026-05-08 Pending — NWMLS as Distributed by MLS Grid
• 2026-04-30 Listed $140,000 NWMLS as Distributed by MLS Grid
• 2011-10-31 Sold (MLS) $125,000 NWMLS as Distributed by MLS Grid
• 2011-10-28 Sold (Public Records) $125,000 Public Records
• 2011-08-15 Listed $159,000 NWMLS as Distributed by MLS Grid
• 2005-12-26 Sold (MLS) $26,000 NWMLS as Distributed by MLS Grid
• 2005-08-23 Listed $29,950 NWMLS as Distributed by MLS Grid

Property tax history

+3.4%/yr

Latest (2026): $2,094 · -5.6% YoY. Source: county tax records.