20 Flamingo Rd · Port Townsend, WA 98368

$139,000

2 bd · 2.0 ba · 1,296 sqft · Manufactured public records · 10 Days on market

Built 1992 Est $202k · 31% 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.9/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Discover the best of Port Townsend living! This spacious 1,296 square foot double-wide manufactured home is perfectly situated on a large wooded lot, offering a rare sense of privacy and a beautiful natural backdrop. Built in 1992, this 2-bedroom, 2-bathroom residence features a durable metal roof and both front and back decks, perfect for enjoying the serene outdoor setting. The interior offers a functional layout designed for comfort and ease. The location is truly unbeatable for outdoor enthusiasts and local culture lovers alike; you are just minutes from the scenic Larry Scott Trail for walking and cycling, minutes from Port Townsend Vineyards, and only a short 5-minute drive from the eclectic shops, award-winning restaurants, and the Whidbey Island ferry in downtown Port Townsend. Additionally, the iconic beaches and trails of Fort Worden State Park are just a stone's throw away. The property includes a large shed, providing ample extra storage for tools or outdoor gear. This home is vacant and move-in ready, complete with laundry hookups and efficient electric heating. Whether you are looking for a year-round residence or a convenient home base for Olympic Peninsula adventures, this property offers exceptional value in a sought-after area. Please note that park approval is required for residency. No age restrictions! Schedule your tour today and see all that this charming Port Townsend home has to offer!

Key facts

• Durable metal roof
• Large wooded lot
• Front and back decks

Tags

• LARGE WOODED LOT
• DURABLE METAL ROOF
• FRONT AND BACK DECKS
• LARGE SHED
• LAUNDRY HOOKUPS
• EFFICIENT ELECTRIC HEATING

Property features AI

Finance

• Other: Property type: Residential manufactured home in good condition; Calculated building area: 1296 square feet; Style: Double wide manufactured (Manuf-Double Wide)
• Financial info: Acceptable financing: Cash, Conventional, FHA
• HOA & community: One Hawkeye Park (manufactured home park); 43 homes in the park; Monthly land lease: $550

Exterior

• Parking: Uncovered parking
• Utilities: Electric energy source; Public water; Septic (park responsibility); Power by PUD Jefferson; Cable and internet: Astound
• Home design: Manufactured home (double wide); One story; East-facing; Built by Liberty; Has a view; Mobile home remains in place; Manufactured after 6/15/1976; Park-approved for sale
• Construction: Wood construction; Metal roof; Tie-down foundation
• Exterior features: Wood exterior; Corner lot; Paved lot

Interior

• Kitchen: Dishwasher; Refrigerator; Stove/Range
• Bedrooms: 2 bedrooms
• Flooring: Vinyl flooring; Carpet
• Bathrooms: 2 full bathrooms; 2 bathtubs and 2 showers
• Heating & cooling: Forced air heating; No central cooling
• Interior features: Water heater (electric) located in the laundry; Skylights; Vaulted ceilings; Bath off primary
• Laundry & utility: Washer; Dryer; Laundry/utility room

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $139k.

Deal economics

• At list price, monthly cash flow is $773 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $139k).
• Cap rate 13.0% vs local median 2.5% in Port Townsend — 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 58/100 on livability (#506 in WA) — a working-class tenant base; expect higher turnover. Watch: health & safety C-, employment D+, crime D.
• Port Townsend School District (town): math 47% / reading 64% proficiency, ranked #101 of 291 in WA (top 35%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 204 active listings in the ZIP; 147 units permitted in Jefferson County in 2024 (0 in 5+ unit buildings).
• This rent runs 38% of the median local income ($70k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $961 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Jefferson County population projected to shrink 5% 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 $39k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $40k; list at $139k implies a 248% gain — meaningful room to come down on a strong offer.

Recommended offer $139,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. Crime grade is D 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?
3. 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.
4. 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.
5. 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: 1.58% ✓
• Cap rate: 12.96%
• Cash-on-cash: 23.82%
• DSCR: 2.06
• GRM: 5.3

CMA / ARV

• ARV (on-the-fly): $202,176
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
61 Flamingo Rd	0.06mi	3/2.0 (+1)	1,296 (0%)	1mo	$145,000	$112	91
171 Arcadia W	0.15mi	3/2.0 (+1)	1,296 (0%)	1mo	$540,000	$417	87
10 Pelican Pl	0.02mi	2/2.0	1,152 (-11%)	18mo	$180,000	$156	66
170 Flamingo Rd	0.12mi	3/2.0 (+1)	1,152 (-11%)	19mo	$151,000	$131	55

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: 17.0%
• Equity multiple: 1.69×
• Total profit: $26,710
• Equity at exit: $20,725

10-year hold

• IRR: 25.5%
• Equity multiple: 3.23×
• Total profit: $86,748
• Equity at exit: $12,018

Cash invested: $38,920 (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 98368

• Active inventory: 204
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $2,194 medium
• Mortgage (P&I): −$729
• Tax est. 1.5%: −$174 /mo · $2,085/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$461
• Net cashflow: $773

Break-even live

Break-even rent $1,216

Max offer price $139,000

Occupancy floor 60%

Sensitivity live

Price	-10% $869	-5% $821	+0% $773	+5% $724	+10% $676
Rent	-10% $599	-5% $686	+0% $773	+5% $859	+10% $946
Rate	-1.0pp $843	-0.5pp $808	base $773	+0.5pp $736	+1.0pp $700

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: $34,750
• Closing costs: $4,170
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-05-22
   status Pending 1433-char remark

   Show marketing remark (1433 chars)

   Discover the best of Port Townsend living! This spacious 1,296 square foot double-wide manufactured home is perfectly situated on a large wooded lot, offering a rare sense of privacy and a beautiful natural backdrop. Built in 1992, this 2-bedroom, 2-bathroom residence features a durable metal roof and both front and back decks, perfect for enjoying the serene outdoor setting. The interior offers a functional layout designed for comfort and ease. The location is truly unbeatable for outdoor enthusiasts and local culture lovers alike; you are just minutes from the scenic Larry Scott Trail for walking and cycling, minutes from Port Townsend Vineyards, and only a short 5-minute drive from the eclectic shops, award-winning restaurants, and the Whidbey Island ferry in downtown Port Townsend. Additionally, the iconic beaches and trails of Fort Worden State Park are just a stone's throw away. The property includes a large shed, providing ample extra storage for tools or outdoor gear. This home is vacant and move-in ready, complete with laundry hookups and efficient electric heating. Whether you are looking for a year-round residence or a convenient home base for Olympic Peninsula adventures, this property offers exceptional value in a sought-after area. Please note that park approval is required for residency. No age restrictions! Schedule your tour today and see all that this charming Port Townsend home has to offer!

2. 2026-05-18
   listed $139,000 Active 1433-char remark

   Show marketing remark (1433 chars)

   Discover the best of Port Townsend living! This spacious 1,296 square foot double-wide manufactured home is perfectly situated on a large wooded lot, offering a rare sense of privacy and a beautiful natural backdrop. Built in 1992, this 2-bedroom, 2-bathroom residence features a durable metal roof and both front and back decks, perfect for enjoying the serene outdoor setting. The interior offers a functional layout designed for comfort and ease. The location is truly unbeatable for outdoor enthusiasts and local culture lovers alike; you are just minutes from the scenic Larry Scott Trail for walking and cycling, minutes from Port Townsend Vineyards, and only a short 5-minute drive from the eclectic shops, award-winning restaurants, and the Whidbey Island ferry in downtown Port Townsend. Additionally, the iconic beaches and trails of Fort Worden State Park are just a stone's throw away. The property includes a large shed, providing ample extra storage for tools or outdoor gear. This home is vacant and move-in ready, complete with laundry hookups and efficient electric heating. Whether you are looking for a year-round residence or a convenient home base for Olympic Peninsula adventures, this property offers exceptional value in a sought-after area. Please note that park approval is required for residency. No age restrictions! Schedule your tour today and see all that this charming Port Townsend home has to offer!

3. 2026-05-18
   listed $139,000 Active

   Show marketing remark (1433 chars)

   Discover the best of Port Townsend living! This spacious 1,296 square foot double-wide manufactured home is perfectly situated on a large wooded lot, offering a rare sense of privacy and a beautiful natural backdrop. Built in 1992, this 2-bedroom, 2-bathroom residence features a durable metal roof and both front and back decks, perfect for enjoying the serene outdoor setting. The interior offers a functional layout designed for comfort and ease. The location is truly unbeatable for outdoor enthusiasts and local culture lovers alike; you are just minutes from the scenic Larry Scott Trail for walking and cycling, minutes from Port Townsend Vineyards, and only a short 5-minute drive from the eclectic shops, award-winning restaurants, and the Whidbey Island ferry in downtown Port Townsend. Additionally, the iconic beaches and trails of Fort Worden State Park are just a stone's throw away. The property includes a large shed, providing ample extra storage for tools or outdoor gear. This home is vacant and move-in ready, complete with laundry hookups and efficient electric heating. Whether you are looking for a year-round residence or a convenient home base for Olympic Peninsula adventures, this property offers exceptional value in a sought-after area. Please note that park approval is required for residency. No age restrictions! Schedule your tour today and see all that this charming Port Townsend home has to offer!

4. 1995-02-22
   soldstatus $39,900

ⓘ 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 4/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥83°F today · 16 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: $26,326
• − Mortgage interest: −$7,786
• − Property taxes: −$2,085
• − Insurance: −$695
• − Repairs & maintenance: −$2,106
• − Management: −$2,106
• − Depreciation: −$4,044
• Taxable income: $7,504
• Est. tax owed @ 24.0%: −$1,801
• After-tax cash flow: $7,469/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: Port Townsend School District
• NCES district ID: 5306840
• Math proficiency: 47% ▼ -2.00%
• Reading proficiency: 64% ▼ -2.00%
• Median HH income: $46,686
• Composite: 48.79/100
• National rank: #4526
• State rank: #101 of 291 in WA

Livability — Port Townsend

• Score: 58/100
• State rank: #506
• US rank: #20880

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Jefferson County · 17,304 people
• City population: 17,304
• Metro: nan
• Population (ZIP): 17,304
• Household income: $69,688
• Rent vs Own: 26.1% rent · 73.9% own
• Severe rent burden: 345.0

Population outlook (Jefferson County) Hauer SSP2

• Today (2025): 31,415 people
• By 2030: 31,568 · +0.5%
• By 2040: 30,911 · -1.6%
• By 2050: 29,927 · -4.7%
• By 2075: 28,489 · -9.3%
• By 2100: 26,483 · -15.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Two or more races 8% Hispanic / Latino 4% Asian 2%
• Common ancestry: Slovak 7% Portuguese 5% Lithuanian 3%
• Foreign-born: 6% · Canada, China
• Languages at home: 92% English-only · Spanish 4% Chinese 1% French/Haitian/Cajun 1%

Political lean MEDSL · Jefferson

• 2024 margin: Solid D (+45.3) · D 71.0% · R 25.7% · Other 3.2%
• 2008→2024 swing: +10.7pp toward D · 2008: 34.6pp · 2024: 45.3pp
• All cycles: 2024: D+45.3 2020: D+41.4 2016: D+32.7 2012: D+31.4 2008: D+34.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -577.30%
• Current HPI: 183.9706
• Rent YoY: —
• Metro: nan
• 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

+248.4% since first listed

4 events — show timeline

• 2026-05-22 Pending — OLS
• 2026-05-18 Listed $139,000 OLS
• 2026-05-18 Listed $139,000 NWMLS as Distributed by MLS Grid
• 1995-02-22 Sold (Public Records) $39,900 Public Records