215 SE Milmont St · Wilbur, WA 99185

$85,000

3 bd · 1.0 ba · 1,308 sqft · SingleFamily · 74 Days on market

Built 1910 10,019 sqft lot $65/sqft · 57% below area

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Why this score? — see what drove the B 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 +28.6/30.0
• DSCR +10.0/10.0
• Appreciation +7.8/10.0
• ARV discount +7.5/15.0
• 1% rule +7.4/10.0
• Schools +4.6/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Great opportunity to transform this corner 100x100 lot property into a truly beautiful home! Situated on a spacious lot with mature fruit trees and plenty of room to garden, expand, or create your dream outdoor space. This 3-bedroom, 1-bath home features a desirable main-floor primary bedroom and convenient main-floor laundry. Inside, you’ll find a large dining room and a separate, generously sized living room offering flexibility and comfort. Bring your vision and unlock this home’s full potential!

Key facts

• Large dining room
• Mature fruit trees
• Main-floor laundry

Tags

• CORNER LOT
• MATURE FRUIT TREES
• ROOM TO GARDEN
• MAIN-FLOOR PRIMARY BEDROOM
• MAIN-FLOOR LAUNDRY
• LARGE DINING ROOM

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $85k.

Deal economics

• At list price, monthly cash flow is $281 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $85k).
• Recommended offer: $80k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 65/100 on livability (#338 in WA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment B; Watch: health & safety C-, crime F, amenities F.
• Wilbur School District (rural): math 40% / reading 65% proficiency, ranked #137 of 291 in WA (top 47%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 30 active listings in the ZIP; 49 units permitted in Lincoln County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($588 loan paydown + $5k appreciation (5.6% local appreciation)).
• Lincoln County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (5.6% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 74 days — a 6% lower offer ($80k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y 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.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk; moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $79,900 (6.0% below list)

Questions for the listing agent

1. It's been on market 74 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.24% ✓
• Cap rate: 10.25%
• Cash-on-cash: 14.15%
• DSCR: 1.63
• GRM: 6.7

CMA / ARV

• ARV (median comp): $198,309
• List price: $85,000
• Delta: -57.14%
• Verdict: UNDERPRICED
• Comps: 17 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
405 SE Regent Ave	0.06mi	3/1.5	1,402 (+7%)	7mo	$220,000	$157	77
413 SW Regent Ave	0.48mi	3/2.0	1,360 (+4%)	13mo	$199,900	$147	56

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

Projected returns pro-forma

5.61% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 26.3%
• Equity multiple: 2.70×
• Total profit: $40,437
• Equity at exit: $51,337

10-year hold

• IRR: 24.9%
• Equity multiple: 5.43×
• Total profit: $105,501
• Equity at exit: $91,338

Cash invested: $23,800 (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 99185

• Home prices YoY: 2.2%
• Active inventory: 30
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $1,051 medium
• Mortgage (P&I): −$446
• Tax from tax record: −$69 /mo · $824/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$221
• Net cashflow: $281

Break-even live

Break-even rent $696

Max offer price $85,000

Occupancy floor 68%

Sensitivity live

Price	-10% $329	-5% $305	+0% $281	+5% $257	+10% $233
Rent	-10% $198	-5% $239	+0% $281	+5% $322	+10% $364
Rate	-1.0pp $323	-0.5pp $302	base $281	+0.5pp $259	+1.0pp $236

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-21
   days on market $85,000 Active 74 DOM
2. 2026-06-18
   days on market $85,000 Active 72 DOM
3. 2026-06-17
   days on market $85,000 Active 71 DOM
4. 2026-06-16
   days on market $85,000 Active 70 DOM
5. 2026-06-15
   days on market $85,000 Active 69 DOM
6. 2026-06-15
   days on market $85,000 Active 68 DOM
7. 2026-06-13
   days on market $85,000 Active 67 DOM
8. 2026-06-12
   days on market $85,000 Active 66 DOM
9. 2026-06-09
   days on market $85,000 Active 63 DOM
10. 2026-06-08
    days on market $85,000 Active 62 DOM
11. 2026-06-08
    days on market $85,000 Active 61 DOM
12. 2026-06-05
    days on market $85,000 Active 59 DOM
13. 2026-06-03
    days on market $85,000 Active 57 DOM
14. 2026-06-02
    days on market $85,000 Active 56 DOM
15. 2026-06-01
    days on market $85,000 Active 55 DOM
16. 2026-05-31
    days on market $85,000 Active 54 DOM
17. 2026-04-07
    listed $85,000 Active 516-char remark

    Show marketing remark (516 chars)

    Great opportunity to transform this corner 100x100 lot property into a truly beautiful home! Situated on a spacious lot with mature fruit trees and plenty of room to garden, expand, or create your dream outdoor space. This 3-bedroom, 1-bath home features a desirable main-floor primary bedroom and convenient main-floor laundry. Inside, you’ll find a large dining room and a separate, generously sized living room offering flexibility and comfort. Bring your vision and unlock this home’s full potential!

18. 2023-01-20
    soldstatus $78,750 Closed 224-char remark

    Show marketing remark (224 chars)

    3 bed 1 bath two story home with fenced front yard on 100x100 lot in Wilbur, WA. Two storage sheds in back. Vinyl siding. Electric baseboard and in wall heat. Large living room separate dining room. Laundry room off kitchen.

19. 2022-12-31
    status Pending 224-char remark

    Show marketing remark (224 chars)

    3 bed 1 bath two story home with fenced front yard on 100x100 lot in Wilbur, WA. Two storage sheds in back. Vinyl siding. Electric baseboard and in wall heat. Large living room separate dining room. Laundry room off kitchen.

20. 2022-12-22
    listed $78,750 Active 224-char remark

    Show marketing remark (224 chars)

    3 bed 1 bath two story home with fenced front yard on 100x100 lot in Wilbur, WA. Two storage sheds in back. Vinyl siding. Electric baseboard and in wall heat. Large living room separate dining room. Laundry room off kitchen.

ⓘ 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: $824 · $69/mo
• Projected year-2 tax: $833 · $69/mo
• Expected delta: +$9/yr (+$1/mo · 1.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 5/10 Major 24% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 3/10 Moderate 7 d/yr ≥93°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 9/10 Extreme 15 unhealthy d/yr today · 18 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,615
• − Mortgage interest: −$4,761
• − Property taxes: −$824
• − Insurance: −$425
• − Repairs & maintenance: −$1,009
• − Management: −$1,009
• − Depreciation: −$2,473
• Taxable income: $2,113
• Est. tax owed @ 24.0%: −$507
• After-tax cash flow: $2,860/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: Wilbur School District
• NCES district ID: 5309840
• Math proficiency: 40% ▼ -10.00%
• Reading proficiency: 65% ▼ -10.00%
• Median HH income: $43,213
• Composite: 46.08/100
• National rank: #5483
• State rank: #137 of 291 in WA

Livability — Wilbur

• Score: 65/100
• State rank: #338
• US rank: #12852

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wilbur, WA
• Population (ZIP): 1,518

Population outlook (Lincoln County) Hauer SSP2

• Today (2025): 9,599 people
• By 2030: 9,146 · -4.7%
• By 2040: 8,298 · -13.6%
• By 2050: 7,683 · -20.0%
• By 2075: 6,790 · -29.3%
• By 2100: 6,029 · -37.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Two or more races 8% Hispanic / Latino 3% Native American 2%
• Common ancestry: Portuguese 4% Slovak 2% Lithuanian 2%
• Foreign-born: 1%
• Languages at home: 97% English-only · Other Indo-European 2% Russian/Polish/Slavic 1% Other Asian/Pacific 1%

Political lean MEDSL · Lincoln

• 2024 margin: Solid R (+50.6) · D 23.6% · R 74.2% · Other 2.2%
• 2008→2024 swing: -20.9pp toward R · 2008: -29.6pp · 2024: -50.6pp
• All cycles: 2024: R+50.6 2020: R+48.9 2016: R+50.2 2012: R+40.9 2008: R+29.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 5.61%
• Current HPI: 261.0745
• Rent YoY: —
• Metro: —
• 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

+7.9% since first listed

4 events — show timeline

• 2026-04-07 Listed $85,000 SPOKANEMLS as Distributed by MLS Grid
• 2023-01-20 Sold (MLS) $78,750 SPOKANEMLS as Distributed by MLS Grid
• 2022-12-31 Pending — SPOKANEMLS as Distributed by MLS Grid
• 2022-12-22 Listed $78,750 SPOKANEMLS as Distributed by MLS Grid

Property tax history

+7.1%/yr

Latest (2026): $824 · -4.8% YoY. Source: county tax records.