380 E Pole Rd #16 · Lynden, WA 98264

$39,000

2 bd · 1.5 ba · 728 sqft · Manufactured public records · 10 Days on market

Built 1978 Est $58k · 33% under

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Why this score? — see what drove the C- 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 +15.0/30.0
• ARV discount +15.0/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• 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

Affordable opportunity in a fantastic location! This older manufactured home offers comfortable, livable space with plenty of potential to make it yours over time. Home features a lovely overly large covered front porch with attached additional storage, free standing new stove, and newly installed hot water heater. Functional layout, established setting, and a location that's hard to beat! Whether you're looking for an investment, starter home, or future project this property offers great value and possibilities.

Key facts

• Covered front porch
• New stove
• Established setting

Tags

• COVERED FRONT PORCH
• ATTACHED ADDITIONAL STORAGE
• NEW STOVE
• FUNCTIONAL LAYOUT
• ESTABLISHED SETTING
• FANTASTIC LOCATION

Property features AI

Finance

• Other: Bus line nearby
• Financial info: Cash sale terms
• HOA & community: Located in Royal Coachman Mobile Estates (about 28 homes in park); Senior community; Park allows trails; pet policy: see remarks; Land lease: $750/month

Exterior

• Parking: Mobile home remains on lot
• Utilities: Electric power; Public water; Septic sewer
• Home design: Manufactured single-wide home; One level; Entry
• Construction: Metal/vinyl construction; Composition roof; Tie-down foundation; Manufactured house structure
• Exterior features: Metal/vinyl exterior; Awnings; Patio/porch/deck; Dead-end street location; Has view

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator; Stove/Range
• Bedrooms: 1 bedroom
• Flooring: Laminate; Carpet
• Bathrooms: 1 full bathroom with bathtub and shower
• Heating & cooling: Forced air heating; Free‑standing stove
• Interior features: Electric fireplace
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath manufactured listed at $39k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $39k).
• Cap rate 41.2% 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 $270 of loan paydown is wiped out by about $1k 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 $11k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $39,000

Questions for the listing agent

1. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 4.56% ✓
• Cap rate: 41.22%
• Cash-on-cash: 124.73%
• DSCR: 6.55
• GRM: 1.8

CMA / ARV

• ARV (on-the-fly): $58,240
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7062 Guide Meridian Rd #26	0.65mi	2/1.0	728 (0%)	6mo	$58,000	$80	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 · 4.69% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 7.33×
• Total profit: $69,075
• Equity at exit: $5,815

10-year hold

• IRR: —
• Equity multiple: 16.24×
• Total profit: $166,406
• Equity at exit: $3,372

Cash invested: $10,920 (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: 1.8×

Monthly cashflow live

• Estimated rent: $1,778 medium
• Mortgage (P&I): −$205
• Tax est. 1.5%: −$49 /mo · $585/yr
• Insurance: −$16
• HOA: −$0
• Vacancy / Maint / Mgmt: −$373
• Net cashflow: $1,135

Break-even live

Break-even rent $341

Max offer price $39,000

Occupancy floor 31%

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: $9,750
• Closing costs: $1,170
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-06-18
   days on market $39,000 Active 10 DOM
2. 2026-06-17
   days on market $39,000 Active 9 DOM
3. 2026-06-16
   days on market $39,000 Active 8 DOM
4. 2026-06-15
   days on market $39,000 Active 7 DOM
5. 2026-06-14
   days on market $39,000 Active 5 DOM
6. 2026-06-13
   days on market $39,000 Active 4 DOM
7. 2026-06-10
   days on market $39,000 Active 2 DOM
8. 2026-06-09
   remarks 518-char remark
9. 2026-06-09
   listed $39,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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: $21,336
• − Mortgage interest: −$2,185
• − Property taxes: −$585
• − Insurance: −$195
• − Repairs & maintenance: −$1,707
• − Management: −$1,707
• − Depreciation: −$1,135
• Taxable income: $13,823
• Est. tax owed @ 24.0%: −$3,317
• After-tax cash flow: $10,304/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

• 2026-06-08 Listed $39,000 NWMLS as Distributed by MLS Grid

Property tax history

-8.9%/yr

Latest (2015): $63 · -0.7% YoY. Source: county tax records.