154 Mossyrock Rd W #4

Mossyrock, WA 98564

$92,500B-

2 bd · 2.0 ba · 1,134 sqft · Built 1995 · Manufactured · Active · 18 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,650/mo
• Mortgage (P&I): −$485
• Tax + insurance: −$154
• HOA: −$0
• Vac / Maint / Mgmt: −$346
• Net cashflow: $664/mo
• Annual: $7,971/yr
• Cap rate: 14.91%
• Cash-on-cash: 30.78%
• DSCR: 2.37
• 1% rule: 1.78%
• Cash to close: $25,900

Investor read

• This is a 2-bed/2.0-bath manufactured listed at $92k. Condition is rated fair.
• At list price, monthly cash flow is $664 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $92k).
• It's been on market 18 days — a 2% lower offer ($91k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $91k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $640 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 57/100 on livability (#522 in WA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A-; Watch: health & safety C-, crime F, amenities F.
• Mossyrock School District (rural): math 54% / reading 58% proficiency, ranked #100 of 291 in WA (top 34%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Mossyrock Elementary School (307 students, 71% FRL); Mossyrock Jr./Sr. High School (273 students, 68% FRL) — zoned schools average 70% FRL vs 51% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 62 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 265 units permitted in Lewis County in 2024 (44 in 5+ unit buildings).
• Lewis County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 4 sale attempts since 2y 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $26k cash investment doubles in ~4 years — after that, you're playing with house money.
• Cap rate 14.9% vs local median 1.8% in Mossyrock — 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

• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.
• 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.

Repairs flagged (vision-AI assessment)

• Major: exterior siding — significant peeling and wear
• Major: kitchen flooring — dated and worn
• Major: bathroom flooring — dated and worn
• Major: interior walls/paint — moderate paint wear