4000 Longview St NE #96 · Moses Lake, WA 98837

$135,000

3 bd · 2.0 ba · 1,404 sqft · Manufactured public records · 82 Days on market

Built 1984 $96/sqft · 20% above area Est $117k · 16% over

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Why this score? — see what drove the C+ 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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +8.2/10.0
• Schools +3.9/10.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0
• ARV discount +0.5/15.0
• Appreciation +0.0/10.0

Listing remarks

Beautifully remodeled 4-bedroom, 2-bath manufactured home featuring a spacious open floor plan! Enjoy durable LVP flooring flowing seamlessly through the entire home, complemented by a stunning kitchen, showcasing a large island, quartz countertops, soft-close cabinetry, and a full suite of stainless steel appliances—including a dual oven. Bathrooms are tastefully updated with a tile shower. The inviting living area is highlighted with an electric fireplace adding warmth and charm. Move-in ready, this home blends style, comfort, and thoughtful upgrades you’ll love!

Key facts

• Quartz countertops
• Soft-close cabinetry
• Large island

Tags

• REMODELED MANUFACTURED HOME
• SPACIOUS OPEN FLOOR PLAN
• DURABLE LVP FLOORING
• LARGE ISLAND
• QUARTZ COUNTERTOPS
• SOFT-CLOSE CABINETRY

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $135k.

Deal economics

• At list price, monthly cash flow is $549 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $135k).
• Recommended offer: $127k (6.0% below list) — sets the bar for market timing.
• Cap rate 11.2% vs local median 3.3% in Moses Lake — 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.

Location & tenants

• Location reads 75/100 on livability (#170 in WA, #4,228 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, amenities A-; Watch: employment C-, schools D+, crime F.
• Moses Lake School District (town): math 38% / reading 48% proficiency, ranked #198 of 291 in WA (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents soft (-1.7%/yr); 585 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 559 units permitted in Grant County in 2024 (35 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $933 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Grant County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $38k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 82 days — a 6% lower offer ($127k) is reasonable based on typical stale-listing flexibility.

Recommended offer $126,900 (6.0% below list)

Questions for the listing agent

1. It's been on market 82 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. 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?
6. 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.
7. 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.
8. 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: 1.32% ✓
• Cap rate: 11.17%
• Cash-on-cash: 17.42%
• DSCR: 1.77
• GRM: 6.3

CMA / ARV

• ARV (median comp): $116,740
• List price: $135,000
• Delta: 15.64%
• Verdict: OVERPRICED
• Comps: 6 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4000 Longview St NE #42	0.18mi	3/2.0	1,456 (+4%)	3mo	$105,000	$72	83
4000 Longview St NE #65	0.08mi	3/2.0	1,456 (+4%)	19mo	$116,950	$80	74
4000 Longview St NE #68	0.19mi	4/2.0 (+1)	1,536 (+9%)	12mo	$130,000	$85	61
900 N Grape Dr #16	0.63mi	3/2.0	1,344 (-4%)	17mo	$78,000	$58	49
900 N Grape Dr Unit 67-B	0.63mi	3/2.0	1,216 (-13%)	1mo	$115,000	$95	47
900 N Grape Dr #66	0.56mi	3/2.0	1,296 (-8%)	21mo	$108,000	$83	44
900 N Grape Dr #94	0.63mi	4/2.0 (+1)	1,596 (+14%)	6mo	$118,000	$74	38
9192 Road 4.8 NE	0.73mi	4/2.0 (+1)	1,560 (+11%)	9mo	$385,000	$247	34

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

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 5.5%
• Equity multiple: 1.21×
• Total profit: $7,826
• Equity at exit: $20,129

10-year hold

• IRR: 12.2%
• Equity multiple: 1.83×
• Total profit: $31,546
• Equity at exit: $11,672

Cash invested: $37,800 (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 98837

• Rents YoY: -1.7%
• Active inventory: 585
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $1,783 high
• Mortgage (P&I): −$708
• Tax from tax record: −$96 /mo · $1,146/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$374
• Net cashflow: $549

Break-even live

Break-even rent $1,088

Max offer price $135,000

Occupancy floor 64%

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9436 Beacon Rd NE Moses Lake, WA	2.0	1.0	1181	$1,295	$1.10	43d	1	0.16mi
1005 W Sequoia Rd Moses Lake, WA	3.0	2.5	1743	$2,095	$1.20	43d	1	0.34mi
4208 Stratford Rd NE Moses Lake, WA	3.0	1.0	1440	$1,495	$1.04	43d	1	0.38mi
1013 W Maple Dr Moses Lake, WA	3.0	2.0	1450	$1,875	$1.29	43d	1	0.43mi
1118 W Sequoia Rd Moses Lake, WA	3.0	2.0	1235	$2,000	$1.62	43d	1	0.46mi
1133 N Grape Dr Moses Lake, WA	1.0–2.0	1.0–2.0	859	$1,825	$2.12	43d	12	0.48mi
1903 Hickory Rd Moses Lake, WA	3.0	2.5	1743	$2,450	$1.41	43d	1	0.57mi
1013 N Pierce Dr Apt B Moses Lake, WA	3.0	2.0	1200	$1,695	$1.41	43d	1	0.60mi
606 W Crest Dr Moses Lake, WA	2.0	2.0	1200	$1,800	$1.50	43d	1	0.68mi
422 N Washington St Moses Lake, WA	3.0	2.0	1166	$2,200	$1.89	43d	1	0.93mi
4727 Owens Rd NE #24 Moses Lake, WA	2.0	1.0	900	$1,200	$1.33	43d	1	1.01mi
215 N Wellington St Moses Lake, WA	3.0	2.0	1550	$2,200	$1.42	43d	1	1.28mi

Listing history 19 events

1. 2026-06-19
   days on market $135,000 Active 82 DOM
2. 2026-06-18
   days on market $135,000 Active 81 DOM
3. 2026-06-17
   days on market $135,000 Active 80 DOM
4. 2026-06-16
   days on market $135,000 Active 79 DOM
5. 2026-06-15
   days on market $135,000 Active 78 DOM
6. 2026-06-14
   days on market $135,000 Active 76 DOM
7. 2026-06-13
   days on market $135,000 Active 75 DOM
8. 2026-06-10
   days on market $135,000 Active 73 DOM
9. 2026-06-09
   days on market $135,000 Active 72 DOM
10. 2026-06-08
    days on market $135,000 Active 71 DOM
11. 2026-06-07
    days on market $135,000 Active 70 DOM
12. 2026-06-05
    days on market $135,000 Active 67 DOM
13. 2026-06-03
    days on market $135,000 Active 66 DOM
14. 2026-06-02
    days on market $135,000 Active 65 DOM
15. 2026-06-01
    days on market $135,000 Active 64 DOM
16. 2026-05-31
    days on market $135,000 Active 63 DOM
17. 2026-05-30
    days on market $135,000 Active 62 DOM
18. 2026-03-29
    listed $140,000 Active
19. 1998-06-30
    soldstatus $1,650,000

ⓘ 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: $1,146 · $96/mo
• Projected year-2 tax: $1,323 · $110/mo
• Expected delta: +$177/yr (+$15/mo · 15.4%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥96°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 7/10 Severe 12 unhealthy d/yr today · 14 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,393
• − Mortgage interest: −$7,562
• − Property taxes: −$1,146
• − Insurance: −$675
• − Repairs & maintenance: −$1,711
• − Management: −$1,711
• − Depreciation: −$3,927
• Taxable income: $4,660
• Est. tax owed @ 24.0%: −$1,118
• After-tax cash flow: $5,466/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: Moses Lake School District
• NCES district ID: 5305220
• Math proficiency: 38% ▬ 0.00%
• Reading proficiency: 48% ▼ -1.00%
• Median HH income: $49,033
• Composite: 39.17/100
• National rank: #8232
• State rank: #198 of 291 in WA

Livability — Moses Lake

• Score: 75/100
• State rank: #170
• US rank: #4228

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Moses Lake, WA
• County: Grant County · 61,643 people
• City population: 49,455
• Metro: Moses Lake, WA
• Population (ZIP): 49,455
• Household income: $74,586
• Rent vs Own: 33.4% rent · 66.6% own
• Severe rent burden: 1064.0

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: Diverse neighborhood (Simpson 0.55)
• Race & ethnicity: White 58% Hispanic / Latino 33% Two or more races 15% Black 2% Asian 1%
• Hispanic origin (detail): Mexican 30%
• Common ancestry: Portuguese 3% Subsaharan African 2% Lithuanian 2%
• Foreign-born: 10% · Canada
• Languages at home: 76% English-only · Spanish 21% Russian/Polish/Slavic 2%

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: ▼ -384.29%
• Current HPI: 208.4574
• Rent YoY: ▼ -1.72%
• Metro: Moses Lake, WA
• 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

-91.5% since first listed

2 events — show timeline

• 2026-03-29 Listed $140,000 NWMLS as Distributed by MLS Grid
• 1998-06-30 Sold (Public Records) $1,650,000 Public Records

Property tax history

+3.0%/yr

Latest (2026): $1,146 · +0.0% YoY. Source: county tax records.