140 W Northshore Dr · Moses Lake, WA 98837

$199,000

3 bd · 1.0 ba · 928 sqft · SingleFamily public records · 24 Days on market

Built 1949 8,400 sqft lot $214/sqft · 13% below area Est $229k · 13% under

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Why this score? — see what drove the D 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).

• ARV discount +13.4/15.0
• Cash flow +11.9/30.0
• Schools +3.9/10.0
• Livability +3.8/5.0
• DSCR +3.5/10.0
• 1% rule +2.9/10.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0
• Appreciation +0.0/10.0

Listing remarks

Move in ready rambler on Northshore Drive! Conveniently located near the water and in the heart of town near restaurants, shopping & more. This 3 bed 1 bath home features hardwood floors, natural light and a functional layout. UPGRADES INCLUDE: New Mitsubishi Split System and Cement Plank Exterior Siding both installed in 2022. Bring your toys! Plenty of room for a boat or RV parking. The property boasts a fully fenced backyard and garage. Call to schedule a showing today!

Key facts

• Near the water
• Near shopping
• Near restaurants

Tags

• MOVE IN READY
• NEAR THE WATER
• HEART OF TOWN
• NEAR RESTAURANTS
• NEAR SHOPPING
• NEW MITSUBISHI SPLIT SYSTEM

Property features AI

Finance

• Other: Listing active; Living area reported as 928 square feet
• Financial info: Offers accepted: Cash, Conventional, FHA, VA

Exterior

• Parking: Detached garage (2 covered spaces); Driveway
• Security: Partially fenced; Security system
• Utilities: Electric energy source; Public water (City of Moses Lake); Sewer connected (City of Moses Lake); Power provided by Grant County PUD; Water heater located in bedroom
• Home design: Single-family house; One story; Main-level entry; Built on lot
• Construction: Metal/vinyl exterior; Composition roof; Poured concrete foundation; Effective year built 1980
• Exterior features: Partially fenced yard; Garden space; Outbuildings; Sprinkler system; High speed internet available; Curbs, paved streets, and sidewalks

Interior

• Kitchen: Kitchen (without eating space)
• Bedrooms: 3 bedrooms (all on main level)
• Flooring: Ceramic tile; Hardwood; Laminate; Carpet
• Bathrooms: 1 full bathroom (main level) with bathtub and shower
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Dining room; Security system; Entry hall; Living room; Utility room
• Laundry & utility: Utility room

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $199k.

Deal economics

• At list price, monthly cash flow is $-49 ($-591/yr) — negative.
• To cash-flow at today's rent, offer at most $190k (4.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $157k (21.3% below list).
• Recommended offer: $157k (21.3% below list) — sets the bar for 1% rule.
• Cap rate 6.0% vs local median 3.3% in Moses Lake — 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.

Location & tenants

• Location reads 75/100 on livability (#170 in WA, #4,228 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, amenities A-; Watch: employment C-, crime F, commute F.
• Moses Lake School District (town): math 38% / reading 48% proficiency, ranked #198 of 291 in WA (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Knolls Vista Elementary (283 students, 80% FRL); Frontier Middle School (758 students, 72% FRL); Moses Lake High School (1,984 students, 64% FRL) — zoned schools average 72% FRL vs 53% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents soft (-1.7%/yr); 590 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 559 units permitted in Grant County in 2024 (35 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Grant County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 24 days — a 2% lower offer ($196k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 15y ago; this cycle's ask is 23% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $155k; 28% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1949 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $156,535 (21.3% below list)

Questions for the listing agent

1. 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?
2. Built in 1949 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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. 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?
7. 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.
8. 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.
9. 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: 0.79% ✗
• Cap rate: 6.00%
• Cash-on-cash: -1.06%
• DSCR: 0.95
• GRM: 10.6

CMA / ARV

• ARV (median comp): $229,003
• List price: $199,000
• Delta: -13.10%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
614 W Loop Dr	0.39mi	3/1.0	962 (+4%)	2mo	$265,000	$275	74
312 W Ridge Rd	0.17mi	2/1.0 (-1)	938 (+1%)	14mo	$235,000	$251	74
114 W Knolls Vista Dr	0.09mi	3/1.0	1,040 (+12%)	3mo	$190,000	$183	73
214 W Knolls Vista Dr	0.07mi	3/1.0	1,047 (+13%)	5mo	$239,900	$229	71
207 W Loop Dr	0.15mi	2/1.0 (-1)	864 (-7%)	9mo	$255,000	$295	69
136 W Northshore Dr	0.01mi	2/1.0 (-1)	814 (-12%)	20mo	$245,000	$301	58
403 W Loop Dr	0.21mi	3/1.0	836 (-10%)	21mo	$218,000	$261	56
513 W Meridian	0.42mi	3/1.0	962 (+4%)	23mo	$247,000	$257	56
437 N Washington St	0.54mi	3/2.0	1,003 (+8%)	23mo	$294,000	$293	38

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

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -21.3%
• Equity multiple: 0.28×
• Total profit: $-40,002
• Equity at exit: $29,672

10-year hold

• IRR: -23.2%
• Equity multiple: -0.02×
• Total profit: $-56,728
• Equity at exit: $17,206

Cash invested: $55,720 (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 98837

• Rents YoY: -1.7%
• Active inventory: 590
• Price-to-rent: 10.6×

Monthly cashflow live

• Estimated rent: $1,565 high
• Mortgage (P&I): −$1,044
• Tax from tax record: −$159 /mo · $1,913/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$329
• Net cashflow: $-49

Break-even live

Break-even rent $1,628

Max offer price $190,300

Occupancy floor 98%

Sensitivity live

Price	-10% $63	-5% $7	+0% $-49	+5% $-106	+10% $-162
Rent	-10% $-173	-5% $-111	+0% $-49	+5% $13	+10% $74
Rate	-1.0pp $51	-0.5pp $1	base $-49	+0.5pp $-101	+1.0pp $-153

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
615 S Alder St #02 Moses Lake, WA	2.0	1.0	742	$1,200	$1.62	45d	1	0.65mi
1133 N Grape Dr Moses Lake, WA	1.0–2.0	1.0–2.0	859	$1,825	$2.12	45d	12	0.83mi
300 E 9th Ave Moses Lake, WA	1.0–3.0	1.0–2.0	1003	$1,699	$1.69	45d	19	0.88mi
1050 S Division St Moses Lake, WA	1.0–2.0	1.0	675	$1,309	$1.94	45d	14	1.16mi
1206 W Columbia Ave Unit D Moses Lake, WA	2.0	1.0	900	$1,295	$1.44	45d	1	1.17mi
1205 W Ivy Ave Unit 101 Moses Lake, WA	2.0	1.0	900	$1,150	$1.28	45d	1	1.18mi
1211 W Ivy Ave Unit 203 Moses Lake, WA	2.0	1.0	900	$1,250	$1.39	45d	1	1.19mi
931 E Hill Ave Moses Lake, WA	2.0	2.0	1108	$1,600	$1.44	45d	1	1.33mi
1104 S Grand Dr Moses Lake, WA	2.0	1.0	693	$1,200	$1.73	45d	1	1.34mi

Listing history 20 events

1. 2026-06-09
   days on market $199,000 Active 24 DOM
2. 2026-06-08
   days on market $199,000 Active 23 DOM
3. 2026-06-07
   days on market $199,000 Active 22 DOM
4. 2026-06-05
   days on market $199,000 Active 19 DOM
5. 2026-06-03
   days on market $199,000 Active 18 DOM
6. 2026-06-02
   statusdays on market $199,000 Active 17 DOM
7. 2026-05-11
   status Active
8. 2026-04-22
   listed $199,000 Active
9. 2019-05-02
   soldstatus $155,000 Sold
10. 2019-05-02
    soldstatus $155,000
11. 2019-03-20
    status Pending
12. 2018-11-05
    listed $162,000 Active
13. 2012-01-05
    soldstatus $77,000 Sold
14. 2011-11-22
    status Pending
15. 2011-11-09
    status Pending Inspection
16. 2011-10-26
    listed $77,000 Active
17. 2004-04-09
    soldstatus $75,000
18. 1991-08-26
    soldstatus $39,726
19. 1988-03-16
    soldstatus $34,800
20. 1980-09-01
    soldstatus $35,000

ⓘ 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: $1,913 · $159/mo
• Projected year-2 tax: $1,950 · $163/mo
• Expected delta: +$38/yr (+$3/mo · 2.0%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥96°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 7/10 Severe 12 unhealthy d/yr today · 14 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,784
• − Mortgage interest: −$11,147
• − Property taxes: −$1,913
• − Insurance: −$995
• − Repairs & maintenance: −$1,503
• − Management: −$1,503
• − Depreciation: −$5,789
• Taxable loss: −$4,065
• Est. tax savings @ 24.0%: +$976
• After-tax cash flow: $385/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: Moses Lake School District
• NCES district ID: 5305220
• Math proficiency: 38% ▬ 0.00%
• Reading proficiency: 48% ▼ -1.00%
• Median HH income: $49,033
• Composite: 39.17/100
• National rank: #8232
• State rank: #198 of 291 in WA

Livability — Moses Lake

• Score: 75/100
• State rank: #170
• US rank: #4228

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Moses Lake, WA
• County: Grant County · 61,643 people
• City population: 49,455
• Metro: Moses Lake, WA
• Population (ZIP): 49,455
• Household income: $74,586
• Rent vs Own: 33.4% rent · 66.6% own
• Severe rent burden: 1064.0

Population outlook (Grant County) Hauer SSP2

• Today (2025): 99,356 people
• By 2030: 102,107 · +2.8%
• By 2040: 108,318 · +9.0%
• By 2050: 114,712 · +15.5%
• By 2075: 131,376 · +32.2%
• By 2100: 146,163 · +47.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.55)
• Race & ethnicity: White 58% Hispanic / Latino 33% Two or more races 15% Black 2% Asian 1%
• Hispanic origin (detail): Mexican 30%
• Common ancestry: Portuguese 3% Subsaharan African 2% Lithuanian 2%
• Foreign-born: 10% · Canada
• Languages at home: 76% English-only · Spanish 21% Russian/Polish/Slavic 2%

Political lean MEDSL · Grant

• 2024 margin: Solid R (+37.5) · D 30.0% · R 67.4% · Other 2.6%
• 2008→2024 swing: -9.9pp toward R · 2008: -27.5pp · 2024: -37.5pp
• All cycles: 2024: R+37.5 2020: R+34.4 2016: R+37.9 2012: R+32.6 2008: R+27.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -384.29%
• Current HPI: 208.4574
• Rent YoY: ▼ -1.72%
• Metro: Moses Lake, WA
• 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

+342.9% since first listed

12 events — show timeline

• 2019-05-02 Sold (Public Records) $155,000 Public Records
• 2019-05-02 Sold (MLS) $155,000 NWMLS as Distributed by MLS Grid
• 2019-03-20 Pending — NWMLS as Distributed by MLS Grid
• 2018-11-05 Listed $162,000 NWMLS as Distributed by MLS Grid
• 2012-01-05 Sold (MLS) $77,000 NWMLS as Distributed by MLS Grid
• 2011-11-22 Pending — NWMLS as Distributed by MLS Grid
• 2011-11-09 Pending — NWMLS as Distributed by MLS Grid
• 2011-10-26 Listed $77,000 NWMLS as Distributed by MLS Grid
• 2004-04-09 Sold (Public Records) $75,000 Public Records
• 1991-08-26 Sold (Public Records) $39,726 Public Records
• 1988-03-16 Sold (Public Records) $34,800 Public Records
• 1980-09-01 Sold (Public Records) $35,000 Public Records

Property tax history

+3.5%/yr

Latest (2026): $1,913 · +0.0% YoY. Source: county tax records.