380 E Pole Rd #20 · Lynden, WA 98264

$159,000

2 bd · 1.5 ba · 1,152 sqft · Manufactured public records · 34 Days on market

Built 1976 $138/sqft · 30% below area Est $226k · 30% under

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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 +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.0/10.0
• Schools +4.6/10.0
• Livability +4.0/5.0
• Rent growth +3.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Move-in ready well-maintained affordable home in lovely Royal Coachman 55+ Community! Mt Baker views, quiet neighborhood and located in the most ideal mid-county spot. This home offers a perfect blend of comfort and convenience. Spacious open floor plan in living & dining areas. Primary includes ensuite bath. Great size kitchen w/ stainless steel appliances. Large covered deck with peaceful pastoral views from the back. New roof in 2025! Surrounded by picturesque open country farm land with a brand new shed installed this week.

Key facts

• Covered deck
• Open floor plan
• Mt baker views

Tags

• MT BAKER VIEWS
• QUIET NEIGHBORHOOD
• OPEN FLOOR PLAN
• ENSUITE BATH
• STAINLESS STEEL APPLIANCES
• COVERED DECK

Property features AI

Finance

• Other: Calculated living area 1,152; Trailing directions provided to park and spot; Buyer to verify elementary school
• Financial info: Listing terms: Cash or Conventional
• HOA & community: Senior community; Senior exemption applicable; Royal Coachman Mobile Estates (park has 28 homes); Park approved for sale; Land lease: $750

Exterior

• Parking: Carport
• Utilities: Electric energy source; Public water; Septic sewer; Puget Sound Energy power
• Home design: Manufactured double wide; One level; Entry on main level; Good condition
• Construction: Metal/Vinyl construction materials; Composition roof; Slab foundation; Manufactured house; Built after 06/15/1976: No
• Exterior features: Metal/Vinyl exterior; Patio/porch/deck; Dead end street; Has view

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator; Stove/Range
• Bedrooms: 2 bedrooms
• Flooring: Laminate; Carpet
• Bathrooms: 1 full bath; 1 half bath; 1 bathtub; 1 shower
• Heating & cooling: Forced air heating; Window unit cooling
• Interior features: Vaulted ceilings; Drapes; Landscaped setting; Entry; Living room; Kitchen without eating space; Bath off primary; Double pane windows
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath manufactured listed at $159k.

Deal economics

• At list price, monthly cash flow is $681 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $159k).
• Recommended offer: $154k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.4% vs local median 2.2% in Lynden — 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 81/100 on livability (#80 in WA, #1,495 nationally) — a professional / high-income tenant draw. Strengths: commute A+, health & safety A+, housing A; Watch: cost of living F.
• Meridian School District (rural): math 45% / reading 56% proficiency, ranked #139 of 291 in WA (top 48%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+4.7%/yr); 190 active listings in the ZIP; solid renter incomes; 1,190 units permitted in Whatcom County in 2024 (327 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 $5k of value loss. Plan a longer hold.
• Whatcom County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 4.7% rent growth), your $45k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($154k) is reasonable based on typical stale-listing flexibility.

Recommended offer $154,230 (3.0% below list)

Questions for the listing agent

1. It's been on market 34 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1976 — 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 A-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?
5. 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.
6. 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.
7. 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: 1.30% ✓
• Cap rate: 11.43%
• Cash-on-cash: 18.35%
• DSCR: 1.82
• GRM: 6.4

CMA / ARV

• ARV (median comp): $225,916
• List price: $159,000
• Delta: -29.62%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
380 E Pole Rd #25	0.00mi	2/2.0	1,232 (+7%)	8mo	$225,000	$183	80
380 E Pole Rd #2	0.00mi	2/2.0	1,000 (-13%)	21mo	$220,000	$220	59
380 E Pole Rd #24	0.00mi	2/2.0	1,296 (+12%)	23mo	$110,000	$85	58
380 E Pole Rd #22	0.00mi	3/2.0 (+1)	1,320 (+15%)	23mo	$195,000	$148	49
7062 Guide Meridian Rd #29	0.66mi	3/2.0 (+1)	1,296 (+12%)	23mo	$119,000	$92	22

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 · 4.69% rent growth · sell at horizon

5-year hold

• IRR: 11.7%
• Equity multiple: 1.47×
• Total profit: $21,104
• Equity at exit: $23,707

10-year hold

• IRR: 21.9%
• Equity multiple: 3.00×
• Total profit: $89,096
• Equity at exit: $13,747

Cash invested: $44,520 (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 98264

• Rents YoY: 4.7%
• Active inventory: 190
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $2,060 medium
• Mortgage (P&I): −$834
• Tax from tax record: −$46 /mo · $556/yr
• Insurance: −$66
• HOA: −$0
• Vacancy / Maint / Mgmt: −$433
• Net cashflow: $681

Break-even live

Break-even rent $1,198

Max offer price $159,000

Occupancy floor 62%

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: $39,750
• Closing costs: $4,770
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-18
   days on market $159,000 Active 34 DOM
2. 2026-06-17
   days on market $159,000 Active 33 DOM
3. 2026-06-16
   days on market $159,000 Active 32 DOM
4. 2026-06-15
   days on market $159,000 Active 31 DOM
5. 2026-06-14
   days on market $159,000 Active 29 DOM
6. 2026-06-13
   days on market $159,000 Active 28 DOM
7. 2026-06-10
   days on market $159,000 Active 26 DOM
8. 2026-06-09
   days on market $159,000 Active 25 DOM
9. 2026-06-08
   days on market $159,000 Active 24 DOM
10. 2026-06-07
    days on market $159,000 Active 23 DOM
11. 2026-06-02
    days on market $159,000 Active 18 DOM
12. 2026-06-01
    days on market $159,000 Active 17 DOM
13. 2026-05-31
    days on market $159,000 Active 16 DOM
14. 2026-05-30
    days on market $159,000 Active 15 DOM
15. 2026-05-15
    listed $159,000 Active

ⓘ 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: $556 · $46/mo
• Projected year-2 tax: $1,558 · $130/mo
• Expected delta: +$1,002/yr (+$84/mo · 180.4%)

ⓘ 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 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥85°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 6/10 Major 9 unhealthy d/yr today · 9 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,719
• − Mortgage interest: −$8,906
• − Property taxes: −$556
• − Insurance: −$795
• − Repairs & maintenance: −$1,978
• − Management: −$1,978
• − Depreciation: −$4,625
• Taxable income: $5,881
• Est. tax owed @ 24.0%: −$1,411
• After-tax cash flow: $6,760/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: Meridian School District
• NCES district ID: 5305010
• Math proficiency: 45% ▼ -2.00%
• Reading proficiency: 56% ▲ 3.00%
• Median HH income: $56,778
• Composite: 45.82/100
• National rank: #5573
• State rank: #139 of 291 in WA

Livability — Lynden

• Score: 81/100
• State rank: #80
• US rank: #1495

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Whatcom County · 209,776 people
• City population: 23,123
• Metro: Bellingham, WA
• Population (ZIP): 23,123
• Household income: $103,638
• Rent vs Own: 31.6% rent · 68.4% own
• Severe rent burden: 688.0

Population outlook (Whatcom County) Hauer SSP2

• Today (2025): 240,408 people
• By 2030: 254,667 · +5.9%
• By 2040: 281,365 · +17.0%
• By 2050: 307,592 · +27.9%
• By 2075: 375,576 · +56.2%
• By 2100: 421,637 · +75.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (75%)
• Race & ethnicity: White 75% Hispanic / Latino 15% Two or more races 10% Asian 2%
• Hispanic origin (detail): Mexican 12%
• Common ancestry: Iranian 17% Portuguese 3% Italian 3%
• Foreign-born: 11% · Canada, China
• Languages at home: 85% English-only · Spanish 10% Other Indo-European 2% Arabic 2%

Political lean MEDSL · Whatcom

• 2024 margin: Strong D (+24.9) · D 60.8% · R 35.9% · Other 3.3%
• 2008→2024 swing: +6.9pp toward D · 2008: 18.0pp · 2024: 24.9pp
• All cycles: 2024: D+24.9 2020: D+23.9 2016: D+17.7 2012: D+12.1 2008: D+18.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -314.17%
• Current HPI: 370.7803
• Rent YoY: ▲ 4.69%
• Metro: Bellingham, 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

1 event — show timeline

• 2026-05-15 Listed $159,000 NWMLS as Distributed by MLS Grid

Property tax history

+12.3%/yr

Latest (2026): $556 · +102.3% YoY. Source: county tax records.