604 D St

Dallesport, WA 98617

$250,000C-

2 bd · 2.0 ba · 916 sqft · Built 1982 · Manufactured · Pending · 14 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,901/mo
• Mortgage (P&I): −$1,311
• Tax + insurance: −$237
• HOA: −$0
• Vac / Maint / Mgmt: −$399
• Net cashflow: $-46/mo
• Annual: $-548/yr
• Cap rate: 6.07%
• Cash-on-cash: -0.78%
• DSCR: 0.97
• 1% rule: 0.76%
• Cash to close: $70,000

Investor read

• This is a 2-bed/2.0-bath manufactured listed at $250k.
• At list price, monthly cash flow is $-46 ($-548/yr) — negative.
• To cash-flow at today's rent, offer at most $242k (3.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $190k (23.9% below list).
• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $190k (23.9% below list) — sets the bar for 1% rule.
• In year one you build about $4k of equity ($2k loan paydown + $2k appreciation (0.8% local appreciation)).
• Location reads 62/100 on livability (#404 in WA) — a middle-class / working-renter tenant base. Strengths: housing A+, crime A, cost of living A-; Watch: health & safety C-, employment D, amenities F.
• Lyle School District (rural): math 30% / reading 35% proficiency, ranked #261 of 291 in WA (top 90%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 63% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Dallesport Elementary (96 students, 82% FRL); Lyle Middle School (49 students, 84% FRL); Lyle High School (67 students, 75% FRL) — zoned schools average 80% FRL vs 63% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 20 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 80 units permitted in Klickitat County in 2024 (0 in 5+ unit buildings).
• Klickitat County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 4 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.
• By year 9, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

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?
• 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.