160 SW Creston Ave

Creston, WA 99117

$95,000B

1 bd · 1.0 ba · 1,568 sqft · Built 1960 · Other · Active · 90 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,005/mo
• Mortgage (P&I): −$498
• Tax + insurance: −$85
• HOA: −$0
• Vac / Maint / Mgmt: −$211
• Net cashflow: $211/mo
• Annual: $2,526/yr
• Cap rate: 8.95%
• Cash-on-cash: 9.50%
• DSCR: 1.42
• 1% rule: 1.06%
• Cash to close: $26,600

Investor read

• This is a 1-bed/1.0-bath other listed at $95k.
• At list price, monthly cash flow is $211 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $95k).
• It's been on market 90 days — a 6% lower offer ($89k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $89k (6.0% below list) — sets the bar for market timing.
• In year one you build about $4k of equity ($657 loan paydown + $3k appreciation (3.0% local appreciation)).
• Location reads 68/100 on livability (#288 in WA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment A-; Watch: crime F, amenities F, commute F.
• Creston School District (rural): math 40% / reading 70% proficiency, ranked #110 of 291 in WA (top 38%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 21 active listings in the ZIP; 49 units permitted in Lincoln County in 2024 (0 in 5+ unit buildings).
• Lincoln County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts; this cycle's ask has dropped $15k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $27k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 90 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Built in 1960 — 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.
• Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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?
• 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.