7011 NE 126th Ave

Barberton, WA 98686

$50,135,740B

None bd · 224.0 ba · 1,850 sqft · Built 2026 · MultiFamily · Active · 24 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $902,200/mo
• Mortgage (P&I): −$262,917
• Tax + insurance: −$83,560
• HOA: −$0
• Vac / Maint / Mgmt: −$189,462
• Net cashflow: $366,261/mo
• Annual: $4,395,134/yr
• Cap rate: 15.06%
• Cash-on-cash: 31.31%
• DSCR: 2.39
• 1% rule: 1.80%
• Cash to close: $14,038,007

Investor read

• This is a ?-bed/224.0-bath multifamily listed at $50.14M.
• At list price, monthly cash flow is $366k ($4.40M/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($902k rent vs $50.14M).
• It's been on market 24 days — a 2% lower offer ($49.38M) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $49.38M (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $347k of loan paydown is wiped out by about $1.50M of value loss. Plan a longer hold.
• Location reads 72/100 on livability (#223 in WA) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A-; Watch: amenities F, commute F, cost of living F.
• Battle Ground School District (suburban): math 48% / reading 60% proficiency, ranked #92 of 291 in WA (top 32%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Pleasant Valley Primary (556 students, 42% FRL); Pleasant Valley Middle (396 students, 45% FRL); Prairie High School (1,603 students, 41% FRL).
• Market conditions: Rents flat; 332 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 43% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 3,547 units permitted in Clark County in 2024 (1,361 in 5+ unit buildings).
• 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 + 0.8% rent growth), your $14.04M cash investment doubles in ~5 years — after that, you're playing with house money.
• Cap rate 15.1% vs local median 2.5% in Barberton — 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.
• At $902,200/mo this rent would consume 10043% of the median local household income ($108k/yr) (locally 364% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.
• 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.
• How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.