14217 NE 10th Ave · Salmon Creek, WA 98685

$155,000

2 bd · 2.0 ba · 1,296 sqft · Manufactured public records · 257 Days on market

Built 1998 $120/sqft · at area comps Est $153k · at est. $551/mo HOA · 24% of rent ↓ 8% since listing

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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 +24.8/30.0
• 1% rule +9.7/10.0
• DSCR +8.1/10.0
• ARV discount +6.9/15.0
• Schools +4.3/10.0
• Livability +4.2/5.0
• Rent growth +3.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this spacious home featuring a bright and open layout with vaulted ceilings. The kitchen is complete with a center island, new SS appliances and a cozy eating area for family meals. Relax in the living room with warm fireplace or step outside to the expansive deck-ideal for entertaining and enjoying the outdoors. With three comfortable bedrooms and two full bathrooms, this home offers plenty of space for everyone. New roof and mini split for peace of mind. Don't miss this move-in-ready home that combines comfort, style and functionality. Newer storage shed and plenty of parking. Close to all amenities and freeway.

Key facts

• New ss appliances
• Plenty of parking
• Newer storage shed

Tags

• CENTER ISLAND
• NEW SS APPLIANCES
• EXPANSIVE DECK
• NEW ROOF
• NEWER STORAGE SHED
• PLENTY OF PARKING

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $155k.

Deal economics

• At list price, monthly cash flow is $330 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $155k).
• Recommended offer: $136k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.8% vs local median 2.8% in Salmon Creek — 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 (#40 in WA, #702 nationally) — a professional / high-income tenant draw. Strengths: commute A+, employment A+, housing A+; Watch: cost of living F.
• 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.
• Market conditions: Rents rising fast (+4.2%/yr); 237 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals leasing fast (median 3d 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 $1k of loan paydown is wiped out by about $5k 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 + 4.2% rent growth), your $43k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 257 days — a 12% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $25k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 24% of rent.

Recommended offer $136,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 257 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 1.47% ✓
• Cap rate: 8.85%
• Cash-on-cash: 9.12%
• DSCR: 1.41
• GRM: 5.7

CMA / ARV

• ARV (median comp): $152,960
• List price: $155,000
• Delta: 1.33%
• Verdict: FAIR
• Comps: 9 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1205 NE 143rd St	0.00mi	2/2.0	1,296 (0%)	23mo	$190,000	$147	81
1304 NE Knowles Dr	0.03mi	2/2.0	1,359 (+5%)	17mo	$135,000	$99	76
14204 NE 10th Ave #71	0.26mi	2/2.0	1,256 (-3%)	9mo	$160,000	$127	75
14204 NE 10th Ave #69	0.26mi	3/2.0 (+1)	1,296 (0%)	10mo	$175,000	$135	75
14204 NE 10th Ave #75	0.26mi	2/2.0	1,344 (+4%)	10mo	$153,000	$114	74
14204 NE 10th Ave #33	0.26mi	2/2.0	1,364 (+5%)	8mo	$279,900	$205	72
14115 NE 10th Ave	0.12mi	2/2.0	1,364 (+5%)	20mo	$120,000	$88	69
14204 NE 10th Ave #26	0.26mi	3/2.0 (+1)	1,344 (+4%)	20mo	$149,000	$111	60
14204 NE 10th Ave #62	0.26mi	2/2.0	1,445 (+12%)	15mo	$205,000	$142	57

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 · 4.25% rent growth · sell at horizon

5-year hold

• IRR: -0.5%
• Equity multiple: 0.98×
• Total profit: $-919
• Equity at exit: $23,111

10-year hold

• IRR: 10.8%
• Equity multiple: 1.91×
• Total profit: $39,618
• Equity at exit: $13,402

Cash invested: $43,400 (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 98685

• Rents YoY: 4.2%
• Active inventory: 237
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $2,280 high
• Mortgage (P&I): −$813
• Tax from tax record: −$43 /mo · $515/yr
• Insurance: −$65
• HOA: −$551
• Vacancy / Maint / Mgmt: −$479
• Net cashflow: $330

Break-even live

Break-even rent $1,862

Max offer price $155,000

Occupancy floor 81%

Sensitivity live

Price	-10% $418	-5% $374	+0% $330	+5% $286	+10% $242
Rent	-10% $150	-5% $240	+0% $330	+5% $420	+10% $510
Rate	-1.0pp $408	-0.5pp $369	base $330	+0.5pp $290	+1.0pp $249

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: $38,750
• Closing costs: $4,650
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
13920 NE 7th Ct Vancouver, WA	3.0	2.5	1491	$2,395	$1.61	3d	1	0.33mi
13717 NW 2nd Ave Vancouver, WA	1.0–3.0	1.0–2.0	1050	$1,944	$1.85	3d	18	0.58mi
13414 NE 23rd Ave Vancouver, WA	1.0–2.0	1.0–2.0	947	$2,192	$2.31	3d	12	0.65mi
2406 NE 139th St Vancouver, WA	1.0–3.0	1.0–3.0	1232	$2,470	$2.00	3d	14	0.81mi
13203 NW 3rd Ct Vancouver, WA	3.0	2.0	1484	$2,100	$1.42	19d	1	0.86mi
2918 NE 137th Way Vancouver, WA	3.0	2.5	1515	$2,395	$1.58	25d	1	0.91mi
13735 NE 30th Ave Vancouver, WA	3.0	2.5	1500	$2,395	$1.60	25d	1	0.94mi
13702 NW 7th Pl Vancouver, WA	3.0	2.5	1663	$2,499	$1.50	3d	1	0.94mi
13848 NW 10th Ct Unit C Vancouver, WA	2.0	2.5	1387	$2,195	$1.58	16d	1	0.99mi
13914 NE Salmon Creek Ave Vancouver, WA	1.0–2.0	1.0–2.0	859	$1,925	$2.24	3d	14	1.11mi
16501 NE 15th Ave Ridgefield, WA	1.0–2.0	1.0–2.0	952	$1,825	$1.92	4d	7	1.24mi

HOA detail

• Monthly dues: $551 · $6,612/yr

Listing history 13 events

1. 2026-06-13
   statusdays on market $155,000 Pending 257 DOM
2. 2026-06-09
   days on market $155,000 Active 255 DOM
3. 2026-06-08
   days on market $155,000 Active 254 DOM
4. 2026-06-07
   days on market $155,000 Active 253 DOM
5. 2026-06-03
   days on market $155,000 Active 251 DOM
6. 2026-06-02
   days on market $155,000 Active 250 DOM
7. 2026-06-01
   days on market $155,000 Active 249 DOM
8. 2026-05-31
   days on market $155,000 Active 248 DOM
9. 2026-04-04
   status Active 632-char remark

   Show marketing remark (632 chars)

   Welcome to this spacious home featuring a bright and open layout with vaulted ceilings. The kitchen is complete with a center island, new SS appliances and a cozy eating area for family meals. Relax in the living room with warm fireplace or step outside to the expansive deck-ideal for entertaining and enjoying the outdoors. With three comfortable bedrooms and two full bathrooms, this home offers plenty of space for everyone. New roof and mini split for peace of mind. Don't miss this move-in-ready home that combines comfort, style and functionality. Newer storage shed and plenty of parking. Close to all amenities and freeway.

10. 2025-12-31
    price $165,000 632-char remark

    Show marketing remark (632 chars)

    Welcome to this spacious home featuring a bright and open layout with vaulted ceilings. The kitchen is complete with a center island, new SS appliances and a cozy eating area for family meals. Relax in the living room with warm fireplace or step outside to the expansive deck-ideal for entertaining and enjoying the outdoors. With three comfortable bedrooms and two full bathrooms, this home offers plenty of space for everyone. New roof and mini split for peace of mind. Don't miss this move-in-ready home that combines comfort, style and functionality. Newer storage shed and plenty of parking. Close to all amenities and freeway.

11. 2025-11-06
    price $169,900 632-char remark

    Show marketing remark (632 chars)

    Welcome to this spacious home featuring a bright and open layout with vaulted ceilings. The kitchen is complete with a center island, new SS appliances and a cozy eating area for family meals. Relax in the living room with warm fireplace or step outside to the expansive deck-ideal for entertaining and enjoying the outdoors. With three comfortable bedrooms and two full bathrooms, this home offers plenty of space for everyone. New roof and mini split for peace of mind. Don't miss this move-in-ready home that combines comfort, style and functionality. Newer storage shed and plenty of parking. Close to all amenities and freeway.

12. 2025-10-17
    price $174,900 632-char remark

    Show marketing remark (632 chars)

    Welcome to this spacious home featuring a bright and open layout with vaulted ceilings. The kitchen is complete with a center island, new SS appliances and a cozy eating area for family meals. Relax in the living room with warm fireplace or step outside to the expansive deck-ideal for entertaining and enjoying the outdoors. With three comfortable bedrooms and two full bathrooms, this home offers plenty of space for everyone. New roof and mini split for peace of mind. Don't miss this move-in-ready home that combines comfort, style and functionality. Newer storage shed and plenty of parking. Close to all amenities and freeway.

13. 2025-09-20
    listed $179,900 Active 632-char remark

    Show marketing remark (632 chars)

    Welcome to this spacious home featuring a bright and open layout with vaulted ceilings. The kitchen is complete with a center island, new SS appliances and a cozy eating area for family meals. Relax in the living room with warm fireplace or step outside to the expansive deck-ideal for entertaining and enjoying the outdoors. With three comfortable bedrooms and two full bathrooms, this home offers plenty of space for everyone. New roof and mini split for peace of mind. Don't miss this move-in-ready home that combines comfort, style and functionality. Newer storage shed and plenty of parking. Close to all amenities and freeway.

ⓘ 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: $515 · $43/mo
• Projected year-2 tax: $1,519 · $127/mo
• Expected delta: +$1,004/yr (+$84/mo · 195.1%)

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

Taxation est. · year 1

• Rental income: $27,361
• − Mortgage interest: −$8,682
• − Property taxes: −$515
• − Insurance: −$775
• − Repairs & maintenance: −$2,189
• − Management: −$2,189
• − HOA: −$6,612
• − Depreciation: −$4,509
• Taxable income: $1,890
• Est. tax owed @ 24.0%: −$454
• After-tax cash flow: $3,506/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 — Salmon Creek

• Score: 84/100
• State rank: #40
• US rank: #702

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Salmon Creek, WA
• County: Clark County · 513,189 people
• Metro: Portland-Vancouver-Hillsboro, OR-WA
• Population (ZIP): 30,607
• Household income: $130,972
• Rent vs Own: 15.2% rent · 84.8% own
• Severe rent burden: 224.0

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 (79%)
• Race & ethnicity: White 79% Two or more races 10% Hispanic / Latino 9% Asian 4% Black 2%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Portuguese 4% Italian 4% Slovak 4%
• Foreign-born: 9% · Canada, China, South Korea
• Languages at home: 90% English-only · Spanish 3% Russian/Polish/Slavic 2% Chinese 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: ▼ -365.76%
• Current HPI: 287.4288
• Rent YoY: ▲ 4.25%
• 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

-8.3% since first listed

5 events — show timeline

• 2026-04-04 Relisted — RMLS
• 2025-12-31 Price Changed $165,000 RMLS
• 2025-11-06 Price Changed $169,900 RMLS
• 2025-10-17 Price Changed $174,900 RMLS
• 2025-09-20 Listed $179,900 RMLS

Property tax history

+0.1%/yr

Latest (2026): $515 · +125.5% YoY. Source: county tax records.