355 Old Inland Empire Hwy #55 Hwy #55

Prosser, WA 99350

$119,500B+

4 bd · 2.0 ba · 1,620 sqft · Built 1998 · Manufactured · Active · 322 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,350/mo
• Mortgage (P&I): −$627
• Tax + insurance: −$94
• HOA: −$0
• Vac / Maint / Mgmt: −$494
• Net cashflow: $1,135/mo
• Annual: $13,625/yr
• Cap rate: 17.69%
• Cash-on-cash: 40.72%
• DSCR: 2.81
• 1% rule: 1.97%
• Cash to close: $33,460

Investor read

• This is a 4-bed/2.0-bath manufactured listed at $120k.
• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• It's been on market 322 days — a 12% lower offer ($105k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $105k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $826 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 80/100 on livability (#91 in WA, #1,785 nationally) — a professional / high-income tenant draw. Strengths: commute A+, housing A+, health & safety A+; Watch: schools C-, amenities D+, employment D.
• Prosser School District (town): math 36% / reading 46% proficiency, ranked #208 of 291 in WA (top 72%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 231 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 1,532 units permitted in Benton County in 2024 (389 in 5+ unit buildings).
• Benton County population projected at +32% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 2 sale attempts; this cycle's ask has dropped $40k (25%) 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 $33k cash investment doubles in ~3 years — after that, you're playing with house money.
• Climate carrying-cost: extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 17.7% vs local median 2.8% in Prosser — 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.

Questions for listing agent

• It's been on market 322 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• 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.
• 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.