4501 Addy St #91 · Washougal, WA 98671

$99,900

3 bd · 2.0 ba · 924 sqft · Manufactured public records · 50 Days on market

Built 1980 $108/sqft · 8% above area Est $93k · 8% over

---

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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +5.3/10.0
• Livability +4.2/5.0
• ARV discount +4.1/15.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Fully remodeled 3-bedroom, 2-bathroom home situated on one of the largest lots in the park. This property has been meticulously updated with a focus on quality materials and a clean, Modern Northwest aesthetic. The open-concept great room features durable LVP flooring, recessed LED lighting, and large windows that fill the space with natural light.The kitchen is designed for efficiency and style, equipped with stainless steel appliances, crisp white cabinetry, and a subway tile backsplash. Both bathrooms have been fully refreshed, including a spacious walk-in shower with modern tile work. New carpeting and fresh paint throughout make this home truly turn-key.Outside, the oversized, fully fenced yard offers rare privacy and space, complemented by a large covered front deck for year-round enjoyment. Located in the heart of Washougal, you’re minutes from the charm of downtown’s local shops and eateries. Enjoy living at the gateway to the Columbia River Gorge, with world-class hiking, waterfront trails, and recreation just a short drive away. Deep covered carport and secondary entry included.

Key facts

• Built 1980
• Listed 50 days

Property features AI

Finance

• Other: Low annual tax amount
• Financial info: Listing terms: Cash or Conventional
• HOA & community: Land lease in park: $795 per month; 161 homes in the park

Exterior

• Parking: Carport
• Utilities: Public water; Electric power
• Home design: Manufactured single-wide home; One story; Manufactured after 06/15/1976; Mobile home remains on site
• Construction: Single wide manufactured construction
• Exterior features: Patio/porch/deck; Located in a manufactured home park (Gibbons Creek Mobile Estates); Park approved for sale

Interior

• Kitchen: Dishwasher; Garbage disposal; Stove/Range
• Bedrooms: 3 bedrooms
• Flooring: Vinyl plank flooring
• Bathrooms: 1 full bathroom; 1 three-quarter bathroom (shower without separate tub); 1 bathtub; 2 showers
• Heating & cooling: Forced air heating; No central cooling
• Interior features: Dishwasher; Garbage disposal; Stove/Range; Updated/remodeled interior; Double pane windows; Vinyl plank flooring; Patio/porch/deck
• Laundry & utility: Electric energy source

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $100k.

Deal economics

• At list price, monthly cash flow is $887 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Recommended offer: $97k (3.0% below list) — sets the bar for market timing.
• Cap rate 17.0% vs local median 1.7% in Washougal — 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 84/100 on livability (#42 in WA, #742 nationally) — a professional / high-income tenant draw. Strengths: employment A+, housing A+, health & safety A+; Watch: amenities D+, cost of living F.
• Washougal School District (suburban): math 53% / reading 64% proficiency, ranked #59 of 291 in WA (top 20%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+3.7%/yr); 275 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 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 $691 of loan paydown is wiped out by about $3k 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 + 3.7% rent growth), your $28k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 50 days — a 3% lower offer ($97k) is reasonable based on typical stale-listing flexibility.
• 4 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 $30k; list at $100k implies a 233% gain — meaningful room to come down on a strong offer.

Recommended offer $96,903 (3.0% below list)

Questions for the listing agent

1. It's been on market 50 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are B-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: 2.00% ✓
• Cap rate: 16.95%
• Cash-on-cash: 38.07%
• DSCR: 2.69
• GRM: 4.2

CMA / ARV

• ARV (median comp): $92,877
• List price: $99,900
• Delta: 7.56%
• Verdict: FAIR
• Comps: 4 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4501 Addy St #5	0.00mi	2/1.0 (-1)	789 (-15%)	19mo	$96,950	$123	51

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 · 3.7% rent growth · sell at horizon

5-year hold

• IRR: 34.9%
• Equity multiple: 2.49×
• Total profit: $41,773
• Equity at exit: $14,895

10-year hold

• IRR: 42.1%
• Equity multiple: 5.12×
• Total profit: $115,165
• Equity at exit: $8,638

Cash invested: $27,972 (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 98671

• Rents YoY: 3.7%
• Active inventory: 275
• Price-to-rent: 4.2×

Monthly cashflow live

• Estimated rent: $1,997 high
• Mortgage (P&I): −$524
• Tax est. 1.5%: −$125 /mo · $1,498/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$419
• Net cashflow: $887

Break-even live

Break-even rent $874

Max offer price $99,900

Occupancy floor 51%

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4290 Addy St Washougal, WA	2.0	1.0	725	$1,374	$1.90	2d	7	0.29mi
3381 Lewis Ln Washougal, WA	2.0	2.5	980	$2,195	$2.24	2d	1	0.86mi
3337 Lewis Ln Washougal, WA	2.0	2.5	981	$2,195	$2.24	44d	1	0.88mi
3251 Lewis Ln Washougal, WA	2.0	2.5	992	$2,095	$2.11	2d	1	0.97mi
3108 H St Apt 3 Washougal, WA	2.0	1.5	950	$1,450	$1.53	2d	1	1.16mi

Listing history 21 events

1. 2026-06-18
   days on market $99,900 Active 50 DOM
2. 2026-06-17
   days on market $99,900 Active 49 DOM
3. 2026-06-16
   days on market $99,900 Active 48 DOM
4. 2026-06-15
   days on market $99,900 Active 47 DOM
5. 2026-06-13
   days on market $99,900 Active 45 DOM
6. 2026-06-09
   days on market $99,900 Active 41 DOM
7. 2026-06-08
   days on market $99,900 Active 40 DOM
8. 2026-06-07
   days on market $99,900 Active 39 DOM
9. 2026-06-05
   days on market $99,900 Active 36 DOM
10. 2026-06-03
    days on market $99,900 Active 35 DOM
11. 2026-06-02
    days on market $99,900 Active 34 DOM

    Show marketing remark (1117 chars)

    Fully remodeled 3-bedroom, 2-bathroom home situated on one of the largest lots in the park. This property has been meticulously updated with a focus on quality materials and a clean, Modern Northwest aesthetic. The open-concept great room features durable LVP flooring, recessed LED lighting, and large windows that fill the space with natural light.The kitchen is designed for efficiency and style, equipped with stainless steel appliances, crisp white cabinetry, and a subway tile backsplash. Both bathrooms have been fully refreshed, including a spacious walk-in shower with modern tile work. New carpeting and fresh paint throughout make this home truly turn-key.Outside, the oversized, fully fenced yard offers rare privacy and space, complemented by a large covered front deck for year-round enjoyment. Located in the heart of Washougal, you’re minutes from the charm of downtown’s local shops and eateries. Enjoy living at the gateway to the Columbia River Gorge, with world-class hiking, waterfront trails, and recreation just a short drive away. Deep covered carport and secondary entry included.

12. 2026-06-02
    price $99,900 Active 33 DOM

    Show marketing remark (1117 chars)

    Fully remodeled 3-bedroom, 2-bathroom home situated on one of the largest lots in the park. This property has been meticulously updated with a focus on quality materials and a clean, Modern Northwest aesthetic. The open-concept great room features durable LVP flooring, recessed LED lighting, and large windows that fill the space with natural light.The kitchen is designed for efficiency and style, equipped with stainless steel appliances, crisp white cabinetry, and a subway tile backsplash. Both bathrooms have been fully refreshed, including a spacious walk-in shower with modern tile work. New carpeting and fresh paint throughout make this home truly turn-key.Outside, the oversized, fully fenced yard offers rare privacy and space, complemented by a large covered front deck for year-round enjoyment. Located in the heart of Washougal, you’re minutes from the charm of downtown’s local shops and eateries. Enjoy living at the gateway to the Columbia River Gorge, with world-class hiking, waterfront trails, and recreation just a short drive away. Deep covered carport and secondary entry included.

13. 2026-06-01
    days on market $105,000 Active 33 DOM
14. 2026-05-31
    days on market $105,000 Active 32 DOM
15. 2026-04-29
    listed $105,000 Active 1117-char remark

    Show marketing remark (1117 chars)

    Fully remodeled 3-bedroom, 2-bathroom home situated on one of the largest lots in the park. This property has been meticulously updated with a focus on quality materials and a clean, Modern Northwest aesthetic. The open-concept great room features durable LVP flooring, recessed LED lighting, and large windows that fill the space with natural light.The kitchen is designed for efficiency and style, equipped with stainless steel appliances, crisp white cabinetry, and a subway tile backsplash. Both bathrooms have been fully refreshed, including a spacious walk-in shower with modern tile work. New carpeting and fresh paint throughout make this home truly turn-key.Outside, the oversized, fully fenced yard offers rare privacy and space, complemented by a large covered front deck for year-round enjoyment. Located in the heart of Washougal, you’re minutes from the charm of downtown’s local shops and eateries. Enjoy living at the gateway to the Columbia River Gorge, with world-class hiking, waterfront trails, and recreation just a short drive away. Deep covered carport and secondary entry included.

16. 2026-04-29
    listed $105,000 Active

    Show marketing remark (1117 chars)

    Fully remodeled 3-bedroom, 2-bathroom home situated on one of the largest lots in the park. This property has been meticulously updated with a focus on quality materials and a clean, Modern Northwest aesthetic. The open-concept great room features durable LVP flooring, recessed LED lighting, and large windows that fill the space with natural light.The kitchen is designed for efficiency and style, equipped with stainless steel appliances, crisp white cabinetry, and a subway tile backsplash. Both bathrooms have been fully refreshed, including a spacious walk-in shower with modern tile work. New carpeting and fresh paint throughout make this home truly turn-key.Outside, the oversized, fully fenced yard offers rare privacy and space, complemented by a large covered front deck for year-round enjoyment. Located in the heart of Washougal, you’re minutes from the charm of downtown’s local shops and eateries. Enjoy living at the gateway to the Columbia River Gorge, with world-class hiking, waterfront trails, and recreation just a short drive away. Deep covered carport and secondary entry included.

17. 2025-12-02
    soldstatus $30,000 Closed 618-char remark

    Show marketing remark (618 chars)

    *Back on market with new siding and gutters! (Not pictured)*Great opportunity near the Columbia River Gorge! Washougal offers great small-town quality of life and scenic beauty, with big-city amenities. This single wide mobile home in the popular Gibbons Creek Mobile park has access to parks, shops and tourist attractions. This remodeled mobile home has so much potential and just needs your finishing touches! 3 bedrooms, 1 bath and another unfinished bathroom ready for you to complete. Outside covered storage, large fenced yard, and more. Electric car charger negotiable. Seller to do no repairs. Cash sale only.

18. 2025-11-01
    status Pending 618-char remark

    Show marketing remark (618 chars)

    *Back on market with new siding and gutters! (Not pictured)*Great opportunity near the Columbia River Gorge! Washougal offers great small-town quality of life and scenic beauty, with big-city amenities. This single wide mobile home in the popular Gibbons Creek Mobile park has access to parks, shops and tourist attractions. This remodeled mobile home has so much potential and just needs your finishing touches! 3 bedrooms, 1 bath and another unfinished bathroom ready for you to complete. Outside covered storage, large fenced yard, and more. Electric car charger negotiable. Seller to do no repairs. Cash sale only.

19. 2025-10-28
    status Active 618-char remark

    Show marketing remark (618 chars)

    *Back on market with new siding and gutters! (Not pictured)*Great opportunity near the Columbia River Gorge! Washougal offers great small-town quality of life and scenic beauty, with big-city amenities. This single wide mobile home in the popular Gibbons Creek Mobile park has access to parks, shops and tourist attractions. This remodeled mobile home has so much potential and just needs your finishing touches! 3 bedrooms, 1 bath and another unfinished bathroom ready for you to complete. Outside covered storage, large fenced yard, and more. Electric car charger negotiable. Seller to do no repairs. Cash sale only.

20. 2025-09-29
    status Pending 618-char remark

    Show marketing remark (618 chars)

    *Back on market with new siding and gutters! (Not pictured)*Great opportunity near the Columbia River Gorge! Washougal offers great small-town quality of life and scenic beauty, with big-city amenities. This single wide mobile home in the popular Gibbons Creek Mobile park has access to parks, shops and tourist attractions. This remodeled mobile home has so much potential and just needs your finishing touches! 3 bedrooms, 1 bath and another unfinished bathroom ready for you to complete. Outside covered storage, large fenced yard, and more. Electric car charger negotiable. Seller to do no repairs. Cash sale only.

21. 2025-09-18
    listed $40,000 Active 618-char remark

    Show marketing remark (618 chars)

    *Back on market with new siding and gutters! (Not pictured)*Great opportunity near the Columbia River Gorge! Washougal offers great small-town quality of life and scenic beauty, with big-city amenities. This single wide mobile home in the popular Gibbons Creek Mobile park has access to parks, shops and tourist attractions. This remodeled mobile home has so much potential and just needs your finishing touches! 3 bedrooms, 1 bath and another unfinished bathroom ready for you to complete. Outside covered storage, large fenced yard, and more. Electric car charger negotiable. Seller to do no repairs. Cash sale only.

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

Taxation est. · year 1

• Rental income: $23,965
• − Mortgage interest: −$5,596
• − Property taxes: −$1,498
• − Insurance: −$500
• − Repairs & maintenance: −$1,917
• − Management: −$1,917
• − Depreciation: −$2,906
• Taxable income: $9,631
• Est. tax owed @ 24.0%: −$2,311
• After-tax cash flow: $8,337/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: Washougal School District
• NCES district ID: 5309540
• Math proficiency: 53% ▼ -2.00%
• Reading proficiency: 64% ▼ -2.00%
• Median HH income: $68,134
• Composite: 53.22/100
• National rank: #3195
• State rank: #59 of 291 in WA

Livability — Washougal

• Score: 84/100
• State rank: #42
• US rank: #742

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Washougal, WA
• County: Clark County · 513,189 people
• City population: 24,871
• Metro: Portland-Vancouver-Hillsboro, OR-WA
• Population (ZIP): 24,871
• Household income: $111,545
• Rent vs Own: 23.5% rent · 76.5% own
• Severe rent burden: 382.0

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 (82%)
• Race & ethnicity: White 82% Hispanic / Latino 10% Two or more races 9% Asian 2%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Portuguese 5% Italian 3% Lithuanian 3%
• Foreign-born: 4% · Canada, China
• Languages at home: 91% English-only · Spanish 6% Chinese 1% Russian/Polish/Slavic 1%

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: ▼ -418.85%
• Current HPI: 315.8635
• Rent YoY: ▲ 3.70%
• 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

+149.8% since first listed

9 events — show timeline

• 2026-06-02 Price Changed $99,900 NWMLS as Distributed by MLS Grid
• 2026-06-02 Price Changed $99,900 RMLS
• 2026-04-29 Listed $105,000 RMLS
• 2026-04-29 Listed $105,000 NWMLS as Distributed by MLS Grid
• 2025-12-02 Sold (MLS) $30,000 RMLS
• 2025-11-01 Pending — RMLS
• 2025-10-28 Relisted — RMLS
• 2025-09-29 Pending — RMLS
• 2025-09-18 Listed $40,000 RMLS

Property tax history

-8.5%/yr

Latest (2026): $16 · -72.4% YoY. Source: county tax records.