2311 SW 6th Ave Unit 8B · Camas, WA 98607

$199,000

1 bd · 1.0 ba · 657 sqft · Condo public records · 5 Days on market

Built 1949 $255/mo HOA · 16% of rent

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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 +7.5/15.0
• Cash flow +7.3/30.0
• Schools +6.9/10.0
• Livability +3.7/5.0
• 1% rule +3.1/10.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• DSCR +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks

Warm, inviting and surprisingly spacious. You'll be shocked at just how much storage this 2-story townhome has to offer. Enter the ground level living room perfectly setup for couch, coffee table and TV, or a home office. Off the living room are two storage closets, one of which also includes the mechanical room. Walking upstairs you pass built-ins, washer/dryer en route to the kitchen, bathroom and bedroom. The kitchen features new cabinets, a gas range, and storage galore. In the bedroom there are two closets plus built-in storage behind the door. With a new roof, plumbing, electrical, siding, and paint, this home will offer years of hassle-free homeownership. HOA dues include water/sewer

Key facts

• 2 story townhome
• Two closets
• Two storage closets

Tags

• 2 STORY TOWNHOME
• GROUND LEVEL LIVING ROOM
• TWO STORAGE CLOSETS
• NEW CABINETS
• GAS RANGE
• TWO CLOSETS

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $199k.

Deal economics

• At list price, monthly cash flow is $-268 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $152k (23.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $161k (19.0% below list).
• Recommended offer: $152k (23.8% below list) — sets the bar for cash-flow.
• Cap rate 4.7% vs local median 1.7% in Camas — 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 74/100 on livability (#181 in WA, #4,740 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, cost of living F.
• Camas School District (suburban): math 73% / reading 80% proficiency, ranked #8 of 291 in WA (top 3%) — strong family-tenant draw, lease renewals of 3-5y typical; only 14% free/reduced lunch — higher-income household profile.
• Zoned schools: Prune Hill Elem (449 students, 13% FRL); Skyridge Middle School (734 students, 13% FRL); Camas High School (1,964 students, 15% FRL) — zoned schools at 13% FRL track the district average.
• Market conditions: Rents rising (+2.5%/yr); 554 active listings in the ZIP; high-income renter base; 3,547 units permitted in Clark County in 2024 (1,361 in 5+ unit buildings).
• This rent is only 15% of the median local income ($128k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

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.
• Clark County population projected at +29% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

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

Recommended offer $151,669 (23.8% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.81% ✗
• Cap rate: 4.68%
• Cash-on-cash: -5.77%
• DSCR: 0.74
• GRM: 10.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.46% rent growth · sell at horizon

5-year hold

• IRR: -26.8%
• Equity multiple: 0.10×
• Total profit: $-50,056
• Equity at exit: $29,672

10-year hold

• IRR: -26.2%
• Equity multiple: -0.23×
• Total profit: $-68,583
• 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 98607

• Rents YoY: 2.5%
• Active inventory: 554
• Price-to-rent: 10.3×

Monthly cashflow live

• Estimated rent: $1,613 medium
• Mortgage (P&I): −$1,044
• Tax from tax record: −$161 /mo · $1,927/yr
• Insurance: −$83
• HOA: −$255
• Vacancy / Maint / Mgmt: −$339
• Net cashflow: $-268

Break-even live

Break-even rent $1,952

Max offer price $151,669

Occupancy floor —

Sensitivity live

Price	-10% $-155	-5% $-212	+0% $-268	+5% $-324	+10% $-381
Rent	-10% $-395	-5% $-332	+0% $-268	+5% $-204	+10% $-141
Rate	-1.0pp $-168	-0.5pp $-217	base $-268	+0.5pp $-319	+1.0pp $-372

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: —

HOA detail condo

• Monthly dues: $255 · $3,060/yr
• Likely covers: watersewergaselectric
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 2 events

1. 2025-10-17
   status Pending
2. 2025-10-12
   listed $199,000 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: $1,927 · $161/mo
• Projected year-2 tax: $1,950 · $163/mo
• Expected delta: +$23/yr (+$2/mo · 1.2%)

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

Taxation est. · year 1

• Rental income: $19,354
• − Mortgage interest: −$11,147
• − Property taxes: −$1,927
• − Insurance: −$995
• − Repairs & maintenance: −$1,548
• − Management: −$1,548
• − HOA: −$3,060
• − Depreciation: −$5,789
• Taxable loss: −$6,661
• Est. tax savings @ 24.0%: +$1,599
• After-tax cash flow: $-1,617/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: Camas School District
• NCES district ID: 5300810
• Math proficiency: 73% ▲ 1.00%
• Reading proficiency: 80% ▼ -2.00%
• Median HH income: $85,054
• Composite: 69.02/100
• National rank: #656
• State rank: #8 of 291 in WA

Livability — Camas

• Score: 74/100
• State rank: #181
• US rank: #4740

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Camas, WA
• County: Clark County · 513,189 people
• City population: 35,867
• Metro: Portland-Vancouver-Hillsboro, OR-WA
• Population (ZIP): 35,867
• Household income: $128,318
• Rent vs Own: 21.3% rent · 78.7% own
• Severe rent burden: 636.0

Population outlook (Clark County) Hauer SSP2

• Today (2025): 529,610 people
• By 2030: 563,242 · +6.4%
• By 2040: 625,905 · +18.2%
• By 2050: 681,558 · +28.7%
• By 2075: 805,967 · +52.2%
• By 2100: 877,450 · +65.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (73%)
• Race & ethnicity: White 73% Two or more races 11% Asian 10% Hispanic / Latino 5% Black 2%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Italian 4% Portuguese 4% Lithuanian 2%
• Foreign-born: 11% · China, Canada, South Korea
• Languages at home: 87% English-only · Chinese 4% Russian/Polish/Slavic 2% Spanish 2%

Political lean MEDSL · Clark

• 2024 margin: Lean D (+7.0) · D 52.1% · R 45.1% · Other 2.8%
• 2008→2024 swing: +0.9pp no change · 2008: 6.1pp · 2024: 7.0pp
• All cycles: 2024: D+7.0 2020: D+5.1 2016: D+0.1 2012: D+0.1 2008: D+6.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -392.89%
• Current HPI: 296.7273
• Rent YoY: ▲ 2.46%
• Metro: Portland-Vancouver-Hillsboro, OR-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

2 events — show timeline

• 2025-10-17 Pending — RMLS
• 2025-10-12 Listed $199,000 RMLS

Property tax history

-6.8%/yr

Latest (2026): $1,927 · -6.8% YoY. Source: county tax records.