1805 NE 94th St #23 · Hazel Dell, WA 98665

$79,950

3 bd · 2.0 ba · 1,280 sqft · Manufactured public records · 11 Days on market

Built 1997 Est $108k · 26% 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 +4.3/10.0
• Livability +4.1/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Spacious and partially furnished, this well-maintained home offers comfort, functionality, and exceptional value in a peaceful 55+ community with low space rent that includes sewer service. Featuring 2 bedrooms and 2 bathrooms, the home boasts a large, open living area perfect for relaxing or entertaining. The bright eat-in kitchen offers ample cabinet and counter space, while the primary suite provides a private retreat with an ensuite bath. Enjoy the convenience of an attached garage, dedicated laundry area, and abundant storage throughout. Outside, you'll find a low-maintenance yard and a welcoming setting in a quiet, friendly neighborhood. Perfect for those seeking affordable, easy livi

Key facts

• Well maintained home
• Attached garage
• Abundant storage

Tags

• WELL MAINTAINED HOME
• LARGE OPEN LIVING AREA
• BRIGHT EAT IN KITCHEN
• ATTACHED GARAGE
• DEDICATED LAUNDRY AREA
• ABUNDANT STORAGE

Property features AI

Finance

• Other: Calculated building area: 1300 square feet; Double pane windows listed as energy efficient
• Financial info: Land lease: $776; Listing terms: Cash
• HOA & community: Located in a senior community; Pets allowed: cats and dogs; Situated in Cypress Park (park name)

Exterior

• Parking: Individual garage (has garage)
• Utilities: Public water; Electric service
• Home design: Manufactured double-wide home; Single story; Fleetwood make; Has view; Electric energy source
• Construction: Wood construction; Composition roof; Slab foundation; Manufactured house structure
• Exterior features: Wood exterior products

Interior

• Kitchen: Dishwasher; Double oven; Garbage disposal; Range / Stove; Refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Laminate flooring; Carpet
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Heat pump cooling
• Interior features: Awnings; Bath off primary; Walk-in closet; Landscaped; Double pane windows
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $80k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $80k).
• Cap rate 24.8% vs local median 3.2% in Hazel Dell — 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 82/100 on livability (#67 in WA, #1,216 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, housing A+; Watch: crime D+, cost of living D.
• Vancouver School District (suburban): math 43% / reading 53% proficiency, ranked #156 of 291 in WA (top 54%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Sarah J Anderson Elementary (660 students, 53% FRL); Columbia River High (1,134 students, 32% FRL) — zoned schools at 43% FRL track the district average.
• Market conditions: Rents rising (+2.0%/yr); 187 active listings in the ZIP; 38 comparable units currently listed for rent nearby; rentals leasing fast (median 8d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 3,547 units permitted in Clark County in 2024 (1,361 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $552 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 2.0% rent growth), your $22k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $79,950

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. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
3. 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?
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: 2.73% ✓
• Cap rate: 24.78%
• Cash-on-cash: 66.02%
• DSCR: 3.94
• GRM: 3.1

CMA / ARV

• ARV (on-the-fly): $107,520
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1805 NE 94th St #6	0.00mi	3/2.0	1,296 (+1%)	18mo	$112,000	$86	83
1805 NE 94th St #56	0.00mi	3/2.0	1,188 (-7%)	9mo	$98,500	$83	80
1805 NE 94th St #12	0.00mi	3/2.0	1,456 (+14%)	21mo	$135,000	$93	60
507 NE 99th St #7	0.73mi	3/2.0	1,351 (+6%)	3mo	$125,000	$93	54
507 NE 99th St #15	0.73mi	3/2.0	1,422 (+11%)	4mo	$117,000	$82	44
507 NE 99th St #43	0.73mi	2/2.0 (-1)	1,188 (-7%)	17mo	$100,000	$84	35
507 NE 99th St #51	0.73mi	2/2.0 (-1)	1,188 (-7%)	20mo	$87,500	$74	32

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 · 2.0% rent growth · sell at horizon

5-year hold

• IRR: 64.1%
• Equity multiple: 3.83×
• Total profit: $63,307
• Equity at exit: $11,921

10-year hold

• IRR: 68.2%
• Equity multiple: 7.58×
• Total profit: $147,374
• Equity at exit: $6,913

Cash invested: $22,386 (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 98665

• Rents YoY: 2.0%
• Active inventory: 187
• Price-to-rent: 3.1×

Monthly cashflow live

• Estimated rent: $2,181 high
• Mortgage (P&I): −$419
• Tax from tax record: −$39 /mo · $462/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$458
• Net cashflow: $1,232

Break-even live

Break-even rent $622

Max offer price $79,950

Occupancy floor 39%

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: $19,988
• Closing costs: $2,398
• Reserves months: —
• Total cash needed: —

Rent comps 38 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9501 NE 19th Ave Vancouver, WA	1.0–2.0	1.0–2.5	844	$2,099	$2.49	3d	20	0.11mi
9211 NE 15th Ave Vancouver, WA	1.0–3.0	1.0–2.0	900	$2,099	$2.33	2d	22	0.18mi
9703 NE Tenny Creek Dr Vancouver, WA	3.0	2.5	1592	$2,295	$1.44	23d	1	0.20mi
1801 NE 99th St Unit 9802-6 Vancouver, WA	2.0	1.5	910	$1,395	$1.53	23d	1	0.27mi
1532 NE 87th Way Vancouver, WA	3.0	2.5	1418	$2,295	$1.62	23d	1	0.29mi
8601 NE 21st Ave Unit D Vancouver, WA	3.0	2.5	1155	$2,200	$1.90	14d	1	0.29mi
8601 NE 21st Ave Unit D Vancouver, WA	3.0	2.5	1155	$2,200	$1.90	12d	1	0.29mi
2009 NE 102nd Cir Vancouver, WA	3.0	2.5	1530	$2,595	$1.70	2d	1	0.42mi
2409 NE 100th St Vancouver, WA	4.0	4.0	1798	$3,300	$1.84	23d	1	0.43mi
1016 NE 86th St Vancouver, WA	2.0	1.0	950	$1,475	$1.55	23d	1	0.56mi
1437 NE 82nd Dr Vancouver, WA	3.0	2.5	1500	$2,695	$1.80	2d	1	0.59mi
1106 NE 83rd St Vancouver, WA	1.0–3.0	1.0–2.5	1058	$2,318	$2.19	20d	1	0.63mi
10117 NE 9th Ave Vancouver, WA	1.0–2.0	1.0–2.0	790	$1,470	$1.86	2d	8	0.65mi
7900 NE 18th Ave Vancouver, WA	1.0–3.0	1.0	755	$1,650	$2.19	1d	4	0.65mi
2301 NE 81st St Vancouver, WA	1.0–3.0	1.0–2.0	1080	$2,550	$2.36	1d	10	0.66mi
10316 NE Stutz Rd Vancouver, WA	2.0	1.0	880	$1,300	$1.48	23d	1	0.66mi
8005 NE 13th Ave Vancouver, WA	1.0–2.0	1.0–2.0	849	$2,045	$2.41	7d	14	0.68mi
608 NE 86th St Vancouver, WA	2.0	2.0	1031	$1,825	$1.77	2d	1	0.70mi
1115 NE 105th St Vancouver, WA	1.0–2.0	1.0–2.0	835	$1,615	$1.93	7d	6	0.71mi
8003 NE 13th Ave Vancouver, WA	1.0–2.0	1.0–2.0	845	$2,045	$2.42	7d	16	0.71mi
405 NE 85th St Vancouver, WA	2.0	1.5	1116	$2,299	$2.06	2d	1	0.77mi
10223 NE Notchlog Dr Vancouver, WA	2.0	1.0	665	$1,646	$2.48	7d	1	0.77mi
8415 NE Hazel Dell Ave Vancouver, WA	2.0–3.0	1.0	871	$1,750	$2.01	1d	4	0.84mi
345 NE 105th St Vancouver, WA	3.0	1.5	1260	$2,350	$1.87	4d	1	0.92mi
8500 NE Hazel Dell Ave Vancouver, WA	1.0–2.0	1.0–2.0	837	$1,675	$2.00	10d	2	0.96mi
7306 NE 16th Ave #1 Vancouver, WA	2.0	1.0	988	$1,395	$1.41	23d	1	0.98mi
8111 NE 36th Ct Vancouver, WA	3.0	2.5	1512	$2,295	$1.52	7d	1	1.02mi
3005 NE 75th St Vancouver, WA	3.0	2.5	1849	$2,615	$1.41	21d	1	1.04mi
3008 NE 74th St Vancouver, WA	3.0	2.5	1834	$2,450	$1.34	16d	1	1.06mi
3011 NE 113th St Vancouver, WA	3.0	2.5	1658	$2,895	$1.75	23d	1	1.10mi
4013 NE 89th Way Vancouver, WA	3.0	2.5	1532	$2,550	$1.66	11d	1	1.11mi
8007 NE 38th Ave Vancouver, WA	3.0	2.5	1477	$2,395	$1.62	2d	1	1.12mi
7317 NE Hazel Dell Ave #10 Vancouver, WA	2.0	1.0	1037	$1,395	$1.35	23d	1	1.13mi
1307 NE 70th St Vancouver, WA	3.0	2.0	1802	$2,829	$1.57	23d	1	1.16mi
7714 NE 39th Ct Vancouver, WA	1.0–2.0	1.0–2.0	921	$2,035	$2.21	2d	12	1.23mi
145 NW 76th St Vancouver, WA	3.0	2.5	1349	$2,245	$1.66	7d	1	1.27mi
10601 NE 45th Ave Vancouver, WA	3.0	2.0	1409	$2,750	$1.95	43d	1	1.45mi
8225 NE St Johns Rd Vancouver, WA	3.0	2.0	1584	$2,048	$1.29	2d	1	1.49mi

Listing history 8 events

1. 2026-06-17
   days on market $79,950 Active 11 DOM
2. 2026-06-16
   days on market $79,950 Active 10 DOM
3. 2026-06-15
   days on market $79,950 Active 9 DOM
4. 2026-06-13
   pricedays on market $79,950 Active 7 DOM
5. 2026-06-09
   days on market $88,000 Active 3 DOM
6. 2026-06-08
   days on market $88,000 Active 2 DOM
7. 2026-06-07
   remarks 699-char remark
8. 2026-06-07
   listed $88,000 Active 1 DOM

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

Tax reassessment forecast WA · Resets to sale price

• Current annual tax: $462 · $39/mo
• Projected year-2 tax: $784 · $65/mo
• Expected delta: +$321/yr (+$27/mo · 69.5%)

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

Taxation est. · year 1

• Rental income: $26,167
• − Mortgage interest: −$4,478
• − Property taxes: −$462
• − Insurance: −$400
• − Repairs & maintenance: −$2,093
• − Management: −$2,093
• − Depreciation: −$2,326
• Taxable income: $14,314
• Est. tax owed @ 24.0%: −$3,435
• After-tax cash flow: $11,344/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: Vancouver School District
• NCES district ID: 5309270
• Math proficiency: 43% ▬ 0.00%
• Reading proficiency: 53% ▬ 0.00%
• Median HH income: $52,562
• Composite: 43.45/100
• National rank: #6479
• State rank: #156 of 291 in WA

Livability — Hazel Dell

• Score: 82/100
• State rank: #67
• US rank: #1216

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hazel Dell, WA
• County: Clark County · 513,189 people
• City population: 28,243
• Metro: Portland-Vancouver-Hillsboro, OR-WA
• Population (ZIP): 28,910
• Household income: $88,559
• Rent vs Own: 42.0% rent · 58.0% own
• Severe rent burden: 1070.0

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 (70%)
• Race & ethnicity: White 70% Hispanic / Latino 14% Two or more races 11% Asian 5% Black 3%
• Hispanic origin (detail): Mexican 12%
• Common ancestry: Portuguese 5% Italian 4% Slovak 3%
• Foreign-born: 12% · Canada, China
• Languages at home: 80% English-only · Spanish 9% Russian/Polish/Slavic 3% Other Asian/Pacific 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: ▼ -274.20%
• Current HPI: 303.1342
• Rent YoY: ▲ 2.00%
• 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

1 event — show timeline

• 2026-06-06 Listed $88,000 NWMLS as Distributed by MLS Grid

Property tax history

-1.3%/yr

Latest (2026): $462 · +41.4% YoY. Source: county tax records.