5400 Meeker Dr #76 · Kalama, WA 98625

$119,900

3 bd · 2.0 ba · 1,188 sqft · Manufactured public records · 114 Days on market

Built 1996 5,100 sqft lot $101/sqft · 6% below area Est $128k · 6% 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 +10.2/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.7/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Clean, cozy and inviting 1996 manufactured home located in the all age community, Columbia Terrace Estates. Just shy of 1200sf, open and bright with tons of natural light. Home offers 3 bedrooms and 2 bathrooms. A primary suite with its own bath, laundry off the hall bath and dining area off the kitchen. All kitchen appliances included, kitchen has new floors too. Outside offers a larger low maintenance lot with beautiful mature blooming landscaping, a deck perfect for sitting, an attached tandem 2 car carport, storage shed and a private back yard with fruit trees! Wonderful home in a wonderful area with downtown Kalama shopping and dining just minutes away! Park approval required with offer submission. A must see!

Key facts

• New floors
• Primary suit
• Low maintenance lot

Tags

• PRIMARY SUIT
• LAUNDRY OFF HALL BATH
• DINING AREA OFF KITCHEN
• NEW FLOORS
• LOW MAINTENANCE LOT
• MATURE LANDSCAPING

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $120k.

Deal economics

• At list price, monthly cash flow is $843 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Recommended offer: $109k (9.0% below list) — sets the bar for market timing.
• Cap rate 14.7% vs local median 1.9% in Kalama — 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 72/100 on livability (#217 in WA) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A; Watch: health & safety C-, cost of living D+, amenities F.
• Kalama School District (rural): math 46% / reading 56% proficiency, ranked #124 of 291 in WA (top 43%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 150 active listings in the ZIP; 348 units permitted in Cowlitz County in 2024 (40 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $829 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Cowlitz County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $34k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 114 days — a 9% lower offer ($109k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 14y ago; this cycle's ask has dropped $15k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $109,109 (9.0% below list)

Questions for the listing agent

1. It's been on market 114 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 1.69% ✓
• Cap rate: 14.73%
• Cash-on-cash: 30.13%
• DSCR: 2.34
• GRM: 4.9

CMA / ARV

• ARV (median comp): $127,533
• List price: $119,900
• Delta: -5.99%
• Verdict: FAIR
• Comps: 4 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5400 Meeker Dr #40	0.12mi	2/2.0 (-1)	1,109 (-7%)	9mo	$110,000	$99	71
5400 Meeker #99	0.06mi	2/2.0 (-1)	1,168 (-2%)	22mo	$107,500	$92	70
5400 Meeker Dr #64	0.02mi	2/2.0 (-1)	1,344 (+13%)	11mo	$130,100	$97	63

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 24.7%
• Equity multiple: 2.02×
• Total profit: $34,245
• Equity at exit: $17,877

10-year hold

• IRR: 32.5%
• Equity multiple: 3.95×
• Total profit: $98,892
• Equity at exit: $10,367

Cash invested: $33,572 (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 98625

• Home prices YoY: -26.0%
• Active inventory: 150
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $2,023 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$76 /mo · $917/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$425
• Net cashflow: $843

Break-even live

Break-even rent $956

Max offer price $119,900

Occupancy floor 53%

Sensitivity live

Price	-10% $911	-5% $877	+0% $843	+5% $809	+10% $775
Rent	-10% $683	-5% $763	+0% $843	+5% $923	+10% $1,003
Rate	-1.0pp $903	-0.5pp $873	base $843	+0.5pp $812	+1.0pp $780

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: $29,975
• Closing costs: $3,597
• Reserves months: —
• Total cash needed: —

Listing history 34 events

1. 2026-06-19
   days on market $119,900 Active 114 DOM
2. 2026-06-18
   days on market $119,900 Active 113 DOM
3. 2026-06-17
   days on market $119,900 Active 112 DOM
4. 2026-06-16
   days on market $119,900 Active 111 DOM
5. 2026-06-15
   pricedays on market $119,900 Active 110 DOM
6. 2026-06-14
   days on market $129,000 Active 108 DOM
7. 2026-06-13
   days on market $129,000 Active 107 DOM
8. 2026-06-10
   days on market $129,000 Active 105 DOM
9. 2026-06-09
   statusdays on market $129,000 Active 104 DOM
10. 2026-05-20
    status Pending 724-char remark

    Show marketing remark (724 chars)

    Clean, cozy and inviting 1996 manufactured home located in the all age community, Columbia Terrace Estates. Just shy of 1200sf, open and bright with tons of natural light. Home offers 3 bedrooms and 2 bathrooms. A primary suite with its own bath, laundry off the hall bath and dining area off the kitchen. All kitchen appliances included, kitchen has new floors too. Outside offers a larger low maintenance lot with beautiful mature blooming landscaping, a deck perfect for sitting, an attached tandem 2 car carport, storage shed and a private back yard with fruit trees! Wonderful home in a wonderful area with downtown Kalama shopping and dining just minutes away! Park approval required with offer submission. A must see!

11. 2026-05-19
    status Pending
12. 2026-05-01
    price $129,000

    Show marketing remark (724 chars)

    Clean, cozy and inviting 1996 manufactured home located in the all age community, Columbia Terrace Estates. Just shy of 1200sf, open and bright with tons of natural light. Home offers 3 bedrooms and 2 bathrooms. A primary suite with its own bath, laundry off the hall bath and dining area off the kitchen. All kitchen appliances included, kitchen has new floors too. Outside offers a larger low maintenance lot with beautiful mature blooming landscaping, a deck perfect for sitting, an attached tandem 2 car carport, storage shed and a private back yard with fruit trees! Wonderful home in a wonderful area with downtown Kalama shopping and dining just minutes away! Park approval required with offer submission. A must see!

13. 2026-05-01
    price $129,000 724-char remark

    Show marketing remark (724 chars)

    Clean, cozy and inviting 1996 manufactured home located in the all age community, Columbia Terrace Estates. Just shy of 1200sf, open and bright with tons of natural light. Home offers 3 bedrooms and 2 bathrooms. A primary suite with its own bath, laundry off the hall bath and dining area off the kitchen. All kitchen appliances included, kitchen has new floors too. Outside offers a larger low maintenance lot with beautiful mature blooming landscaping, a deck perfect for sitting, an attached tandem 2 car carport, storage shed and a private back yard with fruit trees! Wonderful home in a wonderful area with downtown Kalama shopping and dining just minutes away! Park approval required with offer submission. A must see!

14. 2026-02-05
    listed $135,000 Active 724-char remark

    Show marketing remark (724 chars)

    Clean, cozy and inviting 1996 manufactured home located in the all age community, Columbia Terrace Estates. Just shy of 1200sf, open and bright with tons of natural light. Home offers 3 bedrooms and 2 bathrooms. A primary suite with its own bath, laundry off the hall bath and dining area off the kitchen. All kitchen appliances included, kitchen has new floors too. Outside offers a larger low maintenance lot with beautiful mature blooming landscaping, a deck perfect for sitting, an attached tandem 2 car carport, storage shed and a private back yard with fruit trees! Wonderful home in a wonderful area with downtown Kalama shopping and dining just minutes away! Park approval required with offer submission. A must see!

15. 2026-02-05
    listed $135,000 Active

    Show marketing remark (724 chars)

    Clean, cozy and inviting 1996 manufactured home located in the all age community, Columbia Terrace Estates. Just shy of 1200sf, open and bright with tons of natural light. Home offers 3 bedrooms and 2 bathrooms. A primary suite with its own bath, laundry off the hall bath and dining area off the kitchen. All kitchen appliances included, kitchen has new floors too. Outside offers a larger low maintenance lot with beautiful mature blooming landscaping, a deck perfect for sitting, an attached tandem 2 car carport, storage shed and a private back yard with fruit trees! Wonderful home in a wonderful area with downtown Kalama shopping and dining just minutes away! Park approval required with offer submission. A must see!

16. 2024-10-09
    soldstatus $125,000 Closed 687-char remark

    Show marketing remark (687 chars)

    Welcome to your new home in the sought after Columbia Terrace Estates. Boasting 3bed/2bath FLTWD home waiting for you. Water/sewer are paid directly to the park for your convenience, low maintenance for your easy move in. Ready for your personal touch throughout this home-The roof is 2 years old. Newer deck installed, fresh paint in the interior/exterior. Heat pump works great! Storage located in the carport area, apple trees in back yard for that touch of privacy, beautiful well maintained rose bushes as well. This home is conveniently located within minutes of 1-5, Port of Kalama and nearby parks. Sale subject to park approval, Call Corina at park for application. 360-430-5122

17. 2024-10-09
    soldstatus $125,000 Closed

    Show marketing remark (687 chars)

    Welcome to your new home in the sought after Columbia Terrace Estates. Boasting 3bed/2bath FLTWD home waiting for you. Water/sewer are paid directly to the park for your convenience, low maintenance for your easy move in. Ready for your personal touch throughout this home-The roof is 2 years old. Newer deck installed, fresh paint in the interior/exterior. Heat pump works great! Storage located in the carport area, apple trees in back yard for that touch of privacy, beautiful well maintained rose bushes as well. This home is conveniently located within minutes of 1-5, Port of Kalama and nearby parks. Sale subject to park approval, Call Corina at park for application. 360-430-5122

18. 2024-09-23
    status Pending 687-char remark

    Show marketing remark (687 chars)

    Welcome to your new home in the sought after Columbia Terrace Estates. Boasting 3bed/2bath FLTWD home waiting for you. Water/sewer are paid directly to the park for your convenience, low maintenance for your easy move in. Ready for your personal touch throughout this home-The roof is 2 years old. Newer deck installed, fresh paint in the interior/exterior. Heat pump works great! Storage located in the carport area, apple trees in back yard for that touch of privacy, beautiful well maintained rose bushes as well. This home is conveniently located within minutes of 1-5, Port of Kalama and nearby parks. Sale subject to park approval, Call Corina at park for application. 360-430-5122

19. 2024-09-23
    status Pending

    Show marketing remark (687 chars)

    Welcome to your new home in the sought after Columbia Terrace Estates. Boasting 3bed/2bath FLTWD home waiting for you. Water/sewer are paid directly to the park for your convenience, low maintenance for your easy move in. Ready for your personal touch throughout this home-The roof is 2 years old. Newer deck installed, fresh paint in the interior/exterior. Heat pump works great! Storage located in the carport area, apple trees in back yard for that touch of privacy, beautiful well maintained rose bushes as well. This home is conveniently located within minutes of 1-5, Port of Kalama and nearby parks. Sale subject to park approval, Call Corina at park for application. 360-430-5122

20. 2024-09-09
    price $130,000

    Show marketing remark (687 chars)

    Welcome to your new home in the sought after Columbia Terrace Estates. Boasting 3bed/2bath FLTWD home waiting for you. Water/sewer are paid directly to the park for your convenience, low maintenance for your easy move in. Ready for your personal touch throughout this home-The roof is 2 years old. Newer deck installed, fresh paint in the interior/exterior. Heat pump works great! Storage located in the carport area, apple trees in back yard for that touch of privacy, beautiful well maintained rose bushes as well. This home is conveniently located within minutes of 1-5, Port of Kalama and nearby parks. Sale subject to park approval, Call Corina at park for application. 360-430-5122

21. 2024-09-09
    price $130,000 687-char remark

    Show marketing remark (687 chars)

    Welcome to your new home in the sought after Columbia Terrace Estates. Boasting 3bed/2bath FLTWD home waiting for you. Water/sewer are paid directly to the park for your convenience, low maintenance for your easy move in. Ready for your personal touch throughout this home-The roof is 2 years old. Newer deck installed, fresh paint in the interior/exterior. Heat pump works great! Storage located in the carport area, apple trees in back yard for that touch of privacy, beautiful well maintained rose bushes as well. This home is conveniently located within minutes of 1-5, Port of Kalama and nearby parks. Sale subject to park approval, Call Corina at park for application. 360-430-5122

22. 2024-08-14
    price $145,000

    Show marketing remark (687 chars)

    Welcome to your new home in the sought after Columbia Terrace Estates. Boasting 3bed/2bath FLTWD home waiting for you. Water/sewer are paid directly to the park for your convenience, low maintenance for your easy move in. Ready for your personal touch throughout this home-The roof is 2 years old. Newer deck installed, fresh paint in the interior/exterior. Heat pump works great! Storage located in the carport area, apple trees in back yard for that touch of privacy, beautiful well maintained rose bushes as well. This home is conveniently located within minutes of 1-5, Port of Kalama and nearby parks. Sale subject to park approval, Call Corina at park for application. 360-430-5122

23. 2024-08-14
    price $145,000 687-char remark

    Show marketing remark (687 chars)

    Welcome to your new home in the sought after Columbia Terrace Estates. Boasting 3bed/2bath FLTWD home waiting for you. Water/sewer are paid directly to the park for your convenience, low maintenance for your easy move in. Ready for your personal touch throughout this home-The roof is 2 years old. Newer deck installed, fresh paint in the interior/exterior. Heat pump works great! Storage located in the carport area, apple trees in back yard for that touch of privacy, beautiful well maintained rose bushes as well. This home is conveniently located within minutes of 1-5, Port of Kalama and nearby parks. Sale subject to park approval, Call Corina at park for application. 360-430-5122

24. 2024-07-09
    listed $155,000 Active
25. 2024-07-06
    price $155,000 687-char remark

    Show marketing remark (687 chars)

    Welcome to your new home in the sought after Columbia Terrace Estates. Boasting 3bed/2bath FLTWD home waiting for you. Water/sewer are paid directly to the park for your convenience, low maintenance for your easy move in. Ready for your personal touch throughout this home-The roof is 2 years old. Newer deck installed, fresh paint in the interior/exterior. Heat pump works great! Storage located in the carport area, apple trees in back yard for that touch of privacy, beautiful well maintained rose bushes as well. This home is conveniently located within minutes of 1-5, Port of Kalama and nearby parks. Sale subject to park approval, Call Corina at park for application. 360-430-5122

26. 2024-06-22
    listed $165,000 Active 687-char remark

    Show marketing remark (687 chars)

    Welcome to your new home in the sought after Columbia Terrace Estates. Boasting 3bed/2bath FLTWD home waiting for you. Water/sewer are paid directly to the park for your convenience, low maintenance for your easy move in. Ready for your personal touch throughout this home-The roof is 2 years old. Newer deck installed, fresh paint in the interior/exterior. Heat pump works great! Storage located in the carport area, apple trees in back yard for that touch of privacy, beautiful well maintained rose bushes as well. This home is conveniently located within minutes of 1-5, Port of Kalama and nearby parks. Sale subject to park approval, Call Corina at park for application. 360-430-5122

27. 2012-10-29
    historical
28. 2012-10-29
    soldstatus $28,000 Sold
29. 2012-10-29
    soldstatus $28,000 Sold
30. 2012-10-17
    status Pending
31. 2012-09-27
    status Pending
32. 2012-09-27
    status Pending Inspection
33. 2012-07-20
    listed $31,900 Active
34. 2012-07-18
    listed $31,900 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: $917 · $76/mo
• Projected year-2 tax: $1,175 · $98/mo
• Expected delta: +$258/yr (+$21/mo · 28.1%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥88°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 7/10 Severe 8 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,275
• − Mortgage interest: −$6,716
• − Property taxes: −$917
• − Insurance: −$600
• − Repairs & maintenance: −$1,942
• − Management: −$1,942
• − Depreciation: −$3,488
• Taxable income: $8,670
• Est. tax owed @ 24.0%: −$2,081
• After-tax cash flow: $8,035/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: Kalama School District
• NCES district ID: 5303810
• Math proficiency: 46% ▲ 3.00%
• Reading proficiency: 56% ▼ -2.00%
• Median HH income: $62,351
• Composite: 46.75/100
• National rank: #5238
• State rank: #124 of 291 in WA

Livability — Kalama

• Score: 72/100
• State rank: #217
• US rank: #6179

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Kalama, WA
• Population (ZIP): 7,020

Population outlook (Cowlitz County) Hauer SSP2

• Today (2025): 104,780 people
• By 2030: 103,980 · -0.8%
• By 2040: 100,769 · -3.8%
• By 2050: 96,685 · -7.7%
• By 2075: 86,454 · -17.5%
• By 2100: 74,052 · -29.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Two or more races 9% Hispanic / Latino 6%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Italian 7% Iranian 5% Portuguese 3%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Spanish 5% Russian/Polish/Slavic 1%

Political lean MEDSL · Cowlitz

• 2024 margin: R (+19.9) · D 38.7% · R 58.6% · Other 2.7%
• 2008→2024 swing: -31.1pp toward R · 2008: 11.2pp · 2024: -19.9pp
• All cycles: 2024: R+19.9 2020: R+17.4 2016: R+13.7 2012: D+4.4 2008: D+11.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -89.34%
• Current HPI: 253.7882
• Rent YoY: —
• Metro: —
• 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

+304.4% since first listed

25 events — show timeline

• 2026-05-20 Pending — RMLS
• 2026-05-19 Pending — NWMLS as Distributed by MLS Grid
• 2026-05-01 Price Changed $129,000 NWMLS as Distributed by MLS Grid
• 2026-05-01 Price Changed $129,000 RMLS
• 2026-02-05 Listed $135,000 NWMLS as Distributed by MLS Grid
• 2026-02-05 Listed $135,000 RMLS
• 2024-10-09 Sold (MLS) $125,000 NWMLS as Distributed by MLS Grid
• 2024-10-09 Sold (MLS) $125,000 RMLS
• 2024-09-23 Pending — RMLS
• 2024-09-23 Pending — NWMLS as Distributed by MLS Grid
• 2024-09-09 Price Changed $130,000 NWMLS as Distributed by MLS Grid
• 2024-09-09 Price Changed $130,000 RMLS
• 2024-08-14 Price Changed $145,000 NWMLS as Distributed by MLS Grid
• 2024-08-14 Price Changed $145,000 RMLS
• 2024-07-09 Listed $155,000 NWMLS as Distributed by MLS Grid
• 2024-07-06 Price Changed $155,000 RMLS
• 2024-06-22 Listed $165,000 RMLS
• 2012-10-29 Delisted — NWMLS as Distributed by MLS Grid
• 2012-10-29 Sold (MLS) $28,000 NWMLS as Distributed by MLS Grid
• 2012-10-29 Sold (MLS) $28,000 RMLS
• 2012-10-17 Pending — NWMLS as Distributed by MLS Grid
• 2012-09-27 Pending — RMLS
• 2012-09-27 Pending — NWMLS as Distributed by MLS Grid
• 2012-07-20 Listed $31,900 RMLS
• 2012-07-18 Listed $31,900 NWMLS as Distributed by MLS Grid

Property tax history

+5.9%/yr

Latest (2026): $917 · +16.5% YoY. Source: county tax records.