3909 E Fourth Plain Blvd · Vancouver, WA 98661

$40,000

2 bd · 2.0 ba · 1,120 sqft · Land · 209 Days on market

Built 1969 $36/sqft · 49% below area Est $78k · 49% 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

Welcome to this inviting 2-bedroom, 2-bath home offering 1,120 square feet of comfortable living space within the Totem Pole 55+ community. Inside, you'll find a spacious living room, dining room with charming built-ins, a large primary bedroom with a walk-in closet, and a convenient in-home laundry area. Step outside to a partially fenced in covered patio, perfect for morning coffee or meals outdoors. Single car carport, and a handy tool shed complete with a small workshop space perfect for hobbies or extra storage. Located in a community with great amenities, including a clubhouse, on-site laundry, and RV storage, this home combines functionality with a relaxed lifestyle.

Key facts

• In-home laundry area
• Tool shed
• Clubhouse

Tags

• IN-HOME LAUNDRY AREA
• TOOL SHED
• SMALL WORKSHOP SPACE
• CLUBHOUSE
• ON-SITE LAUNDRY
• RV STORAGE

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath land listed at $40k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $40k).
• Recommended offer: $35k (12.0% below list) — sets the bar for market timing.
• Cap rate 37.2% 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.
• Market conditions: Rents rising (+2.0%/yr); 266 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 18d 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 $277 of loan paydown is wiped out by about $1k 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 $11k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 209 days — a 12% lower offer ($35k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 26y ago; this cycle's ask has dropped $35k (47%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $6k; list at $40k implies a 515% gain — meaningful room to come down on a strong offer.

Recommended offer $35,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 209 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1969 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
6. 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.
7. 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.
8. 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: 4.14% ✓
• Cap rate: 37.21%
• Cash-on-cash: 110.43%
• DSCR: 5.91
• GRM: 2.0

CMA / ARV

• ARV (median comp): $77,816
• List price: $40,000
• Delta: -48.60%
• Verdict: UNDERPRICED
• Comps: 4 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 2.05% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 6.14×
• Total profit: $57,621
• Equity at exit: $5,964

10-year hold

• IRR: —
• Equity multiple: 12.47×
• Total profit: $128,497
• Equity at exit: $3,458

Cash invested: $11,200 (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 98661

• Rents YoY: 2.0%
• Active inventory: 266
• Price-to-rent: 2.0×

Monthly cashflow live

• Estimated rent: $1,655 high
• Mortgage (P&I): −$210
• Tax est. 1.5%: −$50 /mo · $600/yr
• Insurance: −$17
• HOA: −$0
• Vacancy / Maint / Mgmt: −$347
• Net cashflow: $1,031

Break-even live

Break-even rent $350

Max offer price $40,000

Occupancy floor 33%

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: $10,000
• Closing costs: $1,200
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3700 E Fourth Plain Blvd Vancouver, WA	2.0	1.0	700	$1,409	$2.01	7d	1	0.18mi
3903 E 18th St #13 Vancouver, WA	2.0	1.0	900	$1,495	$1.66	21d	1	0.23mi
1604 Bryant St #13 Vancouver, WA	2.0	1.0	780	$1,475	$1.89	23d	1	0.26mi
4325 E 17th St Unit 1 Vancouver, WA	2.0	1.0	700	$1,489	$2.13	12d	1	0.29mi
2478 Rossiter Ln Vancouver, WA	2.0–3.0	1.0–1.5	1100	$1,749	$1.59	2d	6	0.29mi
4012 E 16th St Unit A Vancouver, WA	2.0	1.0	950	$1,350	$1.42	19d	1	0.31mi
3911 Plomondon St Vancouver, WA	2.0	1.5	900	$1,795	$1.99	23d	1	0.33mi
4706 Sheridan Dr Vancouver, WA	3.0	1.0	1000	$2,300	$2.30	2d	1	0.33mi
3408 E 18th St Unit 3408-J Vancouver, WA	2.0	1.0	830	$1,695	$2.04	23d	1	0.34mi
3408 E 18th St Unit J Vancouver, WA	2.0	1.0	830	$1,695	$2.04	21d	1	0.34mi
2920 Falk Rd Vancouver, WA	2.0–3.0	2.5–3.0	1268	$2,375	$1.87	1d	1	0.38mi
3311 E 21st St Apt 12 Vancouver, WA	2.0	1.0	825	$1,200	$1.45	17d	1	0.39mi
3308 E 24th Cir Vancouver, WA	1.0	1.0	700	$1,795	$2.56	17d	1	0.40mi
2615 Neals Ln Vancouver, WA	2.0	1.0	850	$1,390	$1.64	2d	1	0.40mi
2815 Caples Ave Unit 1 Vancouver, WA	2.0	1.0	814	$1,695	$2.08	14d	1	0.40mi
4402 Gibbons St Unit 1 Vancouver, WA	2.0	1.0	890	$1,649	$1.85	23d	1	0.41mi
4601 E 18th St Vancouver, WA	1.0–3.0	1.0–2.0	1010	$1,752	$1.74	2d	13	0.43mi
2900 General Anderson Ave Vancouver, WA	1.0–3.0	1.0–2.0	880	$1,591	$1.81	2d	5	0.43mi
3306 E 18th St Unit WA3304-1 Vancouver, WA	3.0	2.0	1150	$1,825	$1.59	23d	1	0.43mi
2817 Neals Ln Vancouver, WA	2.0	1.0	900	$1,275	$1.42	23d	1	0.44mi
2009 Norris Rd Unit 6 Vancouver, WA	2.0	1.0	850	$1,295	$1.52	23d	1	0.44mi
4420 Gibbons St Unit B Vancouver, WA	2.0	1.0	900	$1,395	$1.55	12d	1	0.44mi
3100 Falk Rd Vancouver, WA	2.0–3.0	2.0–3.0	1234	$1,649	$1.34	1d	4	0.47mi
2212 Carlson Rd Vancouver, WA	2.0	1.0	780	$1,420	$1.82	11d	1	0.48mi
3622 E 13th St Vancouver, WA	2.0	1.0	800	$1,700	$2.12	19d	1	0.50mi
1530 Ash St Vancouver, WA	2.0	1.5	1020	$1,450	$1.42	14d	1	0.54mi
3212 E 13th St Unit 3214-2 Vancouver, WA	2.0	1.0	952	$1,595	$1.68	23d	1	0.62mi
2815 E 19th St Unit D Vancouver, WA	2.0	1.0	850	$1,395	$1.64	23d	1	0.63mi
2815 E 19th St Apt Q Vancouver, WA	2.0	1.0	850	$1,395	$1.64	21d	1	0.63mi
4918 Plomondon St Vancouver, WA	2.0	2.0	1000	$1,695	$1.70	7d	1	0.63mi
4500 Nicholson Rd Vancouver, WA	2.0–3.0	2.0	1034	$1,549	$1.50	2d	8	0.66mi
NE 47 NE 47th Ct Vancouver, WA	3.0	2.5	1475	$2,850	$1.93	1d	5	0.66mi
5301 Plomondon St Unit A6 Vancouver, WA	2.0	2.5	1491	$1,995	$1.34	21d	1	0.67mi
4316 NE 34th Cir Vancouver, WA	3.0	2.5	1482	$2,450	$1.65	1d	1	0.70mi
5500 NE Fourth Plain Blvd Vancouver, WA	1.0–2.0	1.0–2.0	768	$1,659	$2.16	2d	4	0.73mi
3011 Fairmount Ave Unit 3011 Vancouver, WA	2.0	1.0	1000	$1,725	$1.73	23d	1	0.74mi
5203 Ogden Ct Unit B Vancouver, WA	2.0	2.0	1118	$1,999	$1.79	7d	1	0.75mi
3218 Edgewood Dr Unit 3224 D Vancouver, WA	2.0	1.0	890	$1,495	$1.68	23d	1	0.76mi
2012 Y St Unit 2014 Vancouver, WA	2.0	1.0	720	$1,450	$2.01	10d	1	0.82mi
5114 NE 34th St Vancouver, WA	2.0	2.0	998	$1,595	$1.60	23d	1	0.82mi

Listing history 20 events

1. 2026-06-13
   statusdays on market $40,000 Pending 209 DOM
2. 2026-06-09
   days on market $40,000 Active 208 DOM
3. 2026-06-08
   days on market $40,000 Active 207 DOM
4. 2026-06-07
   days on market $40,000 Active 206 DOM
5. 2026-06-03
   days on market $40,000 Active 202 DOM
6. 2026-06-02
   days on market $40,000 Active 201 DOM
7. 2026-06-01
   days on market $40,000 Active 200 DOM
8. 2026-05-31
   days on market $40,000 Active 199 DOM
9. 2026-05-15
   price $40,000
10. 2026-05-15
    status Active
11. 2026-05-01
    historical
12. 2026-04-07
    price $50,000
13. 2026-03-05
    price $55,000
14. 2026-01-12
    price $65,000
15. 2025-10-30
    listed $75,000 Active
16. 2012-08-14
    status Pending
17. 2012-08-01
    listed $6,500 Active
18. 2012-07-28
    soldstatus $6,500 Sold
19. 2000-08-30
    listed
20. 1994-11-22
    soldstatus $31,292

ⓘ 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: $19,855
• − Mortgage interest: −$2,241
• − Property taxes: −$600
• − Insurance: −$200
• − Repairs & maintenance: −$1,588
• − Management: −$1,588
• − Depreciation: −$1,164
• Taxable income: $12,474
• Est. tax owed @ 24.0%: −$2,994
• After-tax cash flow: $9,374/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): 50,743
• Household income: $76,913
• Rent vs Own: 57.3% rent · 42.7% own
• Severe rent burden: 2384.0

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: Majority White (64%)
• Race & ethnicity: White 64% Hispanic / Latino 21% Two or more races 14% Black 4% Asian 3% Pacific Islander 2%
• Hispanic origin (detail): Mexican 18%
• Common ancestry: Lithuanian 3% Portuguese 3% Subsaharan African 3%
• Foreign-born: 15% · Canada, Vietnam
• Languages at home: 76% English-only · Spanish 14% Russian/Polish/Slavic 4% Other Indo-European 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: ▼ -567.83%
• Current HPI: 308.3632
• Rent YoY: ▲ 2.05%
• 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

+27.8% since first listed

12 events — show timeline

• 2026-05-15 Price Changed $40,000 NWMLS as Distributed by MLS Grid
• 2026-05-15 Relisted — NWMLS as Distributed by MLS Grid
• 2026-05-01 Delisted — NWMLS as Distributed by MLS Grid
• 2026-04-07 Price Changed $50,000 NWMLS as Distributed by MLS Grid
• 2026-03-05 Price Changed $55,000 NWMLS as Distributed by MLS Grid
• 2026-01-12 Price Changed $65,000 NWMLS as Distributed by MLS Grid
• 2025-10-30 Listed $75,000 NWMLS as Distributed by MLS Grid
• 2012-08-14 Pending — NWMLS as Distributed by MLS Grid
• 2012-08-01 Listed $6,500 NWMLS as Distributed by MLS Grid
• 2012-07-28 Sold (MLS) $6,500 NWMLS as Distributed by MLS Grid
• 2000-08-30 Listed — RMLS
• 1994-11-22 Sold (Public Records) $31,292 Public Records

Property tax history

+4.8%/yr

Latest (2026): $34,464 · +9.3% YoY. Source: county tax records.