44900 SR 174 N #16

Grand Coulee, WA 99133

$52,000B

3 bd · 2.0 ba · 1,344 sqft · Built 1985 · Manufactured · Active · 30 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,388/mo
• Mortgage (P&I): −$273
• Tax + insurance: −$87
• HOA: −$0
• Vac / Maint / Mgmt: −$291
• Net cashflow: $737/mo
• Annual: $8,842/yr
• Cap rate: 23.30%
• Cash-on-cash: 60.73%
• DSCR: 3.70
• 1% rule: 2.67%
• Cash to close: $14,560

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $52k. Condition is rated fair.
• At list price, monthly cash flow is $737 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $52k).
• It's been on market 30 days — a 2% lower offer ($51k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $51k (1.5% below list) — sets the bar for market timing.
• In year one you build about $2k of equity ($360 loan paydown + $1k appreciation (2.6% local appreciation)).
• Location reads 63/100 on livability (#381 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.
• Grand Coulee Dam School District (rural): math 26% / reading 38% proficiency, ranked #262 of 291 in WA (top 90%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 35 active listings in the ZIP; 49 units permitted in Lincoln County in 2024 (0 in 5+ unit buildings).
• Lincoln County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (2.6% appreciation + 3.0% rent growth), your $15k cash investment doubles in ~2 years — after that, you're playing with house money.
• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.

Repairs flagged (vision-AI assessment)

• Major: roof — The independent aerial image shows visible damage and potential leaks.
• Major: exterior siding — The independent aerial image shows peeling paint and siding damage.
• Major: interior walls — The independent aerial image shows peeling paint and siding damage.
• Major: landscaping — The independent aerial image shows a worn exterior with peeling paint and siding damage.