91 Tombleson Rd

Stevenson, WA 98648

$512,000D

3 bd · 1.0 ba · 2,964 sqft · Built 1957 · SingleFamily · Active · 84 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,425/mo
• Mortgage (P&I): −$2,685
• Tax + insurance: −$507
• HOA: −$0
• Vac / Maint / Mgmt: −$509
• Net cashflow: $-1,277/mo
• Annual: $-15,318/yr
• Cap rate: 3.30%
• Cash-on-cash: -10.69%
• DSCR: 0.52
• 1% rule: 0.47%
• Cash to close: $143,360

Investor read

• This is a 3-bed/1.0-bath single-family listed at $512k.
• At list price, monthly cash flow is $-1k ($-15k/yr) — negative.
• To cash-flow at today's rent, offer at most $286k (44.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $242k (52.6% below list).
• It's been on market 84 days — a 6% lower offer ($481k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $242k (52.6% below list) — sets the bar for 1% rule.
• In year one you build about $55k of equity ($4k loan paydown + $51k appreciation (10.0% local appreciation)).
• Location reads 74/100 on livability (#179 in WA, #4,705 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, health & safety A+, housing A-; Watch: schools C-, cost of living C-, amenities F.
• Stevenson-Carson School District (rural): math 32% / reading 51% proficiency, ranked #209 of 291 in WA (top 72%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: built in 1957 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 54 active listings in the ZIP; 34 units permitted in Skamania County in 2024 (0 in 5+ unit buildings).
• 3 sale attempts since 20y ago; this cycle's ask has dropped $28k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $350k; 46% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• By year 2, paydown + projected appreciation supports a ~$88k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

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 84 days. Have you received any prior offers? Is the seller open to a 53% concession, seller financing, or rate buy-down credit?
• Built in 1957 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.
• 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?
• 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.