3700 X St #103 · Vancouver, WA 98663

$145,000

3 bd · 2.0 ba · 1,188 sqft · Manufactured public records · 60 Days on market

Built 2008 Est $135k · 7% over

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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 +28.9/30.0
• DSCR +10.0/10.0
• 1% rule +7.7/10.0
• ARV discount +4.3/15.0
• Schools +4.3/10.0
• Livability +4.1/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Just like new 2008 Palm Harbor.Low HOA dues $340 includes water, sewer, garbage.Front & back parking off street.Lr yard with storage shed.Tinted energy efficent windows with blinds.Vaulted throughout.Great open floorplan with eating bar,pantry & lots of cabinets.Large master with walk-in closet.All appliances stay!AC ready. Like new home at a great price!OPEN HOUSE 3/21 1-4PM.

Key facts

• Built 2008
• Listed 60 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $145k.

Deal economics

• At list price, monthly cash flow is $492 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $145k).
• Recommended offer: $141k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.4% vs local median 2.7% in Vancouver — 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 (#62 in WA, #1,133 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, housing A+; Watch: crime F, 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: Washington Elementary (254 students, 84% FRL); Discovery Middle School (548 students, 78% FRL); Hudson'S Bay High School (1,143 students, 64% FRL) — zoned schools average 75% FRL vs 44% district-wide (31 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+1.2%/yr); 88 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 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 $1k of loan paydown is wiped out by about $4k 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 + 1.2% rent growth), your $41k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 60 days — a 3% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 16y ago 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 $38k; list at $145k implies a 282% gain — meaningful room to come down on a strong offer.

Recommended offer $140,650 (3.0% below list)

Questions for the listing agent

1. It's been on market 60 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. Crime grade is F 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: 1.27% ✓
• Cap rate: 10.37%
• Cash-on-cash: 14.55%
• DSCR: 1.65
• GRM: 6.6

CMA / ARV

• ARV (on-the-fly): $135,432
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3623 V St Unit B	0.09mi	3/1.0	1,049 (-12%)	14mo	$120,000	$114	61

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 · 1.17% rent growth · sell at horizon

5-year hold

• IRR: 3.0%
• Equity multiple: 1.11×
• Total profit: $4,541
• Equity at exit: $21,620

10-year hold

• IRR: 10.7%
• Equity multiple: 1.77×
• Total profit: $31,199
• Equity at exit: $12,537

Cash invested: $40,600 (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 98663

• Rents YoY: 1.2%
• Active inventory: 88
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $1,837 high
• Mortgage (P&I): −$760
• Tax from tax record: −$138 /mo · $1,653/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$386
• Net cashflow: $492

Break-even live

Break-even rent $1,213

Max offer price $145,000

Occupancy floor 68%

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3504 S St Unit C Vancouver, WA	2.0	1.0	924	$1,495	$1.62	24d	1	0.25mi
3315 T St Unit 1 Vancouver, WA	2.0	1.0	720	$1,350	$1.88	24d	1	0.26mi
2702 E 33rd St Unit 1334336P Vancouver, WA	3.0	2.0	1496	$5,271	$3.52	24d	1	0.38mi
2805 S St Vancouver, WA	4.0	1.0	1352	$2,150	$1.59	24d	1	0.53mi
3011 Fairmount Ave Unit 3011 Vancouver, WA	2.0	1.0	1000	$1,725	$1.73	24d	1	0.53mi
1820 E 27th St Vancouver, WA	2.0	1.0	900	$1,635	$1.82	24d	1	0.59mi
4105 NE St Johns Rd Vancouver, WA	3.0	2.0	1016	$1,995	$1.96	16d	2	0.61mi
2600 T St Vancouver, WA	1.0–3.0	1.0	675	$1,699	$2.52	2d	10	0.64mi
4622 NE Saint James Rd Unit 4704B Vancouver, WA	2.0	1.0	850	$1,375	$1.62	24d	1	0.66mi
2610 R St Vancouver, WA	2.0	1.0	800	$1,347	$1.68	11d	4	0.67mi
4705 NE Leverich Ct Vancouver, WA	2.0	2.0	825	$1,747	$2.12	12d	2	0.79mi
4617 NE St Johns Rd Vancouver, WA	2.0	1.5	939	$1,615	$1.72	8d	1	0.80mi
3503 NE 49th St Vancouver, WA	2.0	1.5	1100	$1,409	$1.28	24d	1	0.80mi
2817 Neals Ln Vancouver, WA	2.0	1.0	900	$1,275	$1.42	24d	1	0.85mi
2615 Neals Ln Vancouver, WA	2.0	1.0	850	$1,390	$1.64	3d	1	0.88mi
2012 Y St Unit 2014 Vancouver, WA	2.0	1.0	720	$1,450	$2.01	11d	1	0.88mi
3805 NE 49th St Unit A103 Vancouver, WA	2.0	2.0	995	$1,599	$1.61	8d	1	0.92mi
3805 NE 49th St Unit B204 Vancouver, WA	3.0	2.0	1325	$1,899	$1.43	24d	1	0.92mi
3805 NE 49th St Unit B202 Vancouver, WA	2.0	2.0	995	$1,599	$1.61	24d	1	0.92mi
3512 NE 51st St Vancouver, WA	2.0	1.0	950	$1,489	$1.57	3d	1	0.95mi
3100 Falk Rd Vancouver, WA	2.0–3.0	2.0–3.0	1234	$2,299	$1.86	2d	4	0.96mi
2218 E 18th St Unit A Vancouver, WA	2.0	1.0	1218	$1,895	$1.56	24d	1	0.97mi
2218 E 18th St Unit B Vancouver, WA	2.0	2.0	1218	$1,795	$1.47	24d	1	0.97mi
2478 Rossiter Ln Vancouver, WA	2.0–3.0	1.0–1.5	1100	$2,299	$2.09	3d	6	0.99mi
2920 Falk Rd Vancouver, WA	2.0–3.0	2.5–3.0	1268	$2,565	$2.02	2d	1	1.00mi
301 NE 45th St Vancouver, WA	1.0–2.0	1.0–2.0	875	$1,899	$2.17	4d	8	1.02mi
301 NE 45th St Vancouver, WA	1.0–3.0	1.0–2.0	1025	$1,899	$1.85	15d	8	1.02mi
3505 NE Creston Ave Unit 1334334P Vancouver, WA	2.0	2.0	1097	$3,511	$3.20	24d	1	1.03mi
204 E 35th St Unit 1334340P Vancouver, WA	2.0	2.0	1097	$4,444	$4.05	24d	1	1.03mi
2009 Norris Rd Unit 6 Vancouver, WA	2.0	1.0	850	$1,295	$1.52	24d	1	1.04mi
3311 E 21st St Apt 12 Vancouver, WA	2.0	1.0	825	$1,200	$1.45	18d	1	1.08mi
4316 NE 34th Cir Vancouver, WA	3.0	2.5	1482	$2,450	$1.65	2d	1	1.10mi
2431 E 16th St Vancouver, WA	2.0	1.5	1040	$1,762	$1.69	24d	1	1.10mi
308 E 28th St Vancouver, WA	1.0–2.0	1.0	730	$1,575	$2.16	3d	2	1.10mi
5009 NE Hazel Dell Ave Vancouver, WA	2.0	1.0	700	$1,400	$2.00	12d	1	1.10mi
2815 E 19th St Apt Q Vancouver, WA	2.0	1.0	850	$1,395	$1.64	22d	1	1.10mi
2815 E 19th St Unit D Vancouver, WA	2.0	1.0	850	$1,395	$1.64	24d	1	1.10mi
5009 NE Hazel Dell Ave Unit 2 Vancouver, WA	2.0	1.0	700	$1,400	$2.00	16d	1	1.11mi
3700 E Fourth Plain Blvd Vancouver, WA	2.0	1.0	700	$1,409	$2.01	8d	1	1.11mi
3306 E 18th St Unit WA3304-1 Vancouver, WA	3.0	2.0	1150	$1,825	$1.59	24d	1	1.11mi

Listing history 9 events

1. 2022-07-30
   status Pending
2. 2022-07-06
   status Pending
3. 2022-05-06
   listed $145,000 Active
4. 2010-05-20
   soldstatus $38,000 Sold 387-char remark

   Show marketing remark (387 chars)

   Just like new 2008 Palm Harbor.Low HOA dues $340 includes water, sewer, garbage.Front & back parking off street.Lr yard with storage shed.Tinted energy efficent windows with blinds.Vaulted throughout.Great open floorplan with eating bar,pantry & lots of cabinets.Large master with walk-in closet.All appliances stay!AC ready. Like new home at a great price!OPEN HOUSE 3/21 1-4PM.

5. 2010-05-13
   status Pending 387-char remark

   Show marketing remark (387 chars)

   Just like new 2008 Palm Harbor.Low HOA dues $340 includes water, sewer, garbage.Front & back parking off street.Lr yard with storage shed.Tinted energy efficent windows with blinds.Vaulted throughout.Great open floorplan with eating bar,pantry & lots of cabinets.Large master with walk-in closet.All appliances stay!AC ready. Like new home at a great price!OPEN HOUSE 3/21 1-4PM.

6. 2010-05-06
   status Active 387-char remark

   Show marketing remark (387 chars)

   Just like new 2008 Palm Harbor.Low HOA dues $340 includes water, sewer, garbage.Front & back parking off street.Lr yard with storage shed.Tinted energy efficent windows with blinds.Vaulted throughout.Great open floorplan with eating bar,pantry & lots of cabinets.Large master with walk-in closet.All appliances stay!AC ready. Like new home at a great price!OPEN HOUSE 3/21 1-4PM.

7. 2010-04-29
   historical Bumpable 387-char remark

   Show marketing remark (387 chars)

   Just like new 2008 Palm Harbor.Low HOA dues $340 includes water, sewer, garbage.Front & back parking off street.Lr yard with storage shed.Tinted energy efficent windows with blinds.Vaulted throughout.Great open floorplan with eating bar,pantry & lots of cabinets.Large master with walk-in closet.All appliances stay!AC ready. Like new home at a great price!OPEN HOUSE 3/21 1-4PM.

8. 2010-03-15
   price $40,000 387-char remark

   Show marketing remark (387 chars)

   Just like new 2008 Palm Harbor.Low HOA dues $340 includes water, sewer, garbage.Front & back parking off street.Lr yard with storage shed.Tinted energy efficent windows with blinds.Vaulted throughout.Great open floorplan with eating bar,pantry & lots of cabinets.Large master with walk-in closet.All appliances stay!AC ready. Like new home at a great price!OPEN HOUSE 3/21 1-4PM.

9. 2010-01-22
   listed $45,000 Active 387-char remark

   Show marketing remark (387 chars)

   Just like new 2008 Palm Harbor.Low HOA dues $340 includes water, sewer, garbage.Front & back parking off street.Lr yard with storage shed.Tinted energy efficent windows with blinds.Vaulted throughout.Great open floorplan with eating bar,pantry & lots of cabinets.Large master with walk-in closet.All appliances stay!AC ready. Like new home at a great price!OPEN HOUSE 3/21 1-4PM.

ⓘ 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: $1,653 · $138/mo
• Projected year-2 tax: $1,653 · $138/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Taxation est. · year 1

• Rental income: $22,039
• − Mortgage interest: −$8,122
• − Property taxes: −$1,653
• − Insurance: −$725
• − Repairs & maintenance: −$1,763
• − Management: −$1,763
• − Depreciation: −$4,218
• Taxable income: $3,794
• Est. tax owed @ 24.0%: −$911
• After-tax cash flow: $4,997/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 — Vancouver

• Score: 82/100
• State rank: #62
• US rank: #1133

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Vancouver, WA
• County: Clark County · 513,189 people
• City population: 360,195
• Metro: Portland-Vancouver-Hillsboro, OR-WA
• Population (ZIP): 16,202
• Household income: $86,018
• Rent vs Own: 40.8% rent · 59.2% own
• Severe rent burden: 521.0

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 16% Two or more races 12% Asian 2% Pacific Islander 1% Black 1% Native American 1%
• Hispanic origin (detail): Mexican 13% Puerto Rican 1%
• Common ancestry: Italian 5% Portuguese 5% Slovak 3%
• Foreign-born: 11% · Canada
• Languages at home: 81% English-only · Spanish 12% Russian/Polish/Slavic 4% Other Indo-European 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: ▼ -341.36%
• Current HPI: 339.1855
• Rent YoY: ▲ 1.17%
• 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

+222.2% since first listed

9 events — show timeline

• 2022-07-30 Pending — RMLS
• 2022-07-06 Pending — RMLS
• 2022-05-06 Listed $145,000 RMLS
• 2010-05-20 Sold (MLS) $38,000 RMLS
• 2010-05-13 Pending — RMLS
• 2010-05-06 Relisted — RMLS
• 2010-04-29 Contingent — RMLS
• 2010-03-15 Price Changed $40,000 RMLS
• 2010-01-22 Listed $45,000 RMLS

Property tax history

+7.2%/yr

Latest (2026): $1,653 · +49.7% YoY. Source: county tax records.