100 N 60th Ave #1

Yakima, WA 98908

$254,900D

2 bd · 2.0 ba · 1,444 sqft · Built 1978 · Condo · Active · 145 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,886/mo
• Mortgage (P&I): −$1,337
• Tax + insurance: −$264
• HOA: −$0
• Vac / Maint / Mgmt: −$396
• Net cashflow: $-111/mo
• Annual: $-1,329/yr
• Cap rate: 5.77%
• Cash-on-cash: -1.86%
• DSCR: 0.92
• 1% rule: 0.74%
• Cash to close: $71,372

Investor read

• This is a 2-bed/2.0-bath condo listed at $255k.
• At list price, monthly cash flow is $-111 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $235k (7.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $189k (26.0% below list).
• It's been on market 145 days — a 12% lower offer ($224k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $189k (26.0% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Location reads 80/100 on livability (#98 in WA, #1,912 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, housing A+; Watch: employment D, crime F.
• West Valley School District (Yakima) (urban): math 58% / reading 65% proficiency, ranked #47 of 291 in WA (top 16%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Summitview Elementary (501 students, 72% FRL); West Valley Mid-Level Campus (1,194 students, 55% FRL); West Valley High School (1,527 students, 47% FRL) — zoned schools average 58% FRL vs 35% district-wide (23 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+6.5%/yr); 331 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 45% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 468 units permitted in Yakima County in 2024 (23 in 5+ unit buildings).
• Yakima County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 2 sale attempts since 6y ago; this cycle's ask has dropped $18k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $197k; 29% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.
• Cap rate 5.8% vs local median 3.3% in Yakima — 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?
• It's been on market 145 days. Have you received any prior offers? Is the seller open to a 26% concession, seller financing, or rate buy-down credit?
• Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
• 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 F 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?
• 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?