17968 Entiat River Rd

Entiat, WA 98822

$140,000B

2 bd · 2.0 ba · 924 sqft · Built 1991 · Other · Pending · 266 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,095/mo
• Mortgage (P&I): −$734
• Tax + insurance: −$126
• HOA: −$0
• Vac / Maint / Mgmt: −$440
• Net cashflow: $795/mo
• Annual: $9,539/yr
• Cap rate: 13.11%
• Cash-on-cash: 24.33%
• DSCR: 2.08
• 1% rule: 1.50%
• Cash to close: $39,200

Investor read

• This is a 2-bed/2.0-bath other listed at $140k.
• At list price, monthly cash flow is $795 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• It's been on market 266 days — a 12% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $123k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $968 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 65/100 on livability (#350 in WA) — a middle-class / working-renter tenant base. Strengths: housing A+, employment A-; Watch: schools C-, health & safety C-, crime D-.
• Entiat School District (rural): math 40% / reading 60% proficiency, ranked #148 of 291 in WA (top 51%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 53 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; this cycle's ask has dropped $10k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $38k; list at $140k implies a 268% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $39k cash investment doubles in ~5 years — after that, you're playing with house money.
• Climate carrying-cost: moderate flood risk; severe wildfire risk — expect insurance premiums to compound above CPI over the hold.
• Cap rate 13.1% vs local median 1.4% in Entiat — 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 266 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• 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.
• Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• 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.