3909 E Fourth Plain Blvd #4 · Vancouver, WA 98661

$170,000

2 bd · 2.0 ba · 1,152 sqft · Manufactured public records · 110 Days on market

Built 1971 $148/sqft · 107% above area ↓ 3% 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 +18.0/30.0
• ARV discount +7.5/15.0
• DSCR +5.7/10.0
• 1% rule +4.8/10.0
• 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 MLS

Discover a charming 2 bed, 2 bath home in vibrant Vancouver, WA. Spanning 1,152 sq ft, this cozy manufactured home is updated with modern LVP flooring and fresh paint throughout. The kitchen delights with an updated design, tile backsplash, and a new dishwasher. Enjoy comfort year-round with a newer furnace, heat pump, and windows. Outdoors, a large fenced backyard and a covered patio offer private relaxation or entertaining space. Additionally, there's a 16x10 shop for hobbies or storage. With rent at $650 a month, water, sewer, and trash are included, and pets are welcome. This delightful home is situated in a 55+ community with no HOA fees, conveniently close to shopping centers, schools, and major freeways like 205 and I-5. Downtown Vancouver and Vancouver Mall are nearby for added convenience.

Key facts

• Newer furnace
• Heat pump
• Modern lvp flooring

Tags

• MODERN LVP FLOORING
• TILE BACKSPLASH
• NEW DISHWASHER
• NEWER FURNACE
• HEAT PUMP
• LARGE FENCED BACKYARD

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $170k.

Deal economics

• At list price, monthly cash flow is $148 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $167k (1.5% below list).
• Recommended offer: $155k (9.0% below list) — sets the bar for market timing.
• Cap rate 7.3% 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: Martin Luther King Elementary (433 students, 76% FRL); Mcloughlin Middle School (911 students, 84% FRL); Fort Vancouver High School (1,547 students, 76% FRL) — zoned schools average 79% FRL vs 44% district-wide (34 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+2.0%/yr); 270 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 16d 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 $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.

Negotiation context

• It's been on market 110 days — a 9% lower offer ($155k) is reasonable based on typical stale-listing flexibility.

Recommended offer $154,700 (9.0% below list)

Questions for the listing agent

1. It's been on market 110 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1971 — 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: 0.98% ✗
• Cap rate: 7.34%
• Cash-on-cash: 3.72%
• DSCR: 1.17
• GRM: 8.5

CMA / ARV

• ARV (median comp): $81,979
• List price: $170,000
• Delta: 107.37%
• Verdict: OVERPRICED
• Comps: 3 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3921 E Fourth Plain Blvd #53	0.06mi	3/2.0 (+1)	1,020 (-12%)	2mo	$162,000	$159	72

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 · 2.05% rent growth · sell at horizon

5-year hold

• IRR: -11.5%
• Equity multiple: 0.59×
• Total profit: $-19,705
• Equity at exit: $25,348

10-year hold

• IRR: -3.7%
• Equity multiple: 0.76×
• Total profit: $-11,330
• Equity at exit: $14,698

Cash invested: $47,600 (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 98661

• Rents YoY: 2.0%
• Active inventory: 270
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $1,674 high
• Mortgage (P&I): −$891
• Tax est. 1.5%: −$212 /mo · $2,550/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$352
• Net cashflow: $148

Break-even live

Break-even rent $1,487

Max offer price $170,000

Occupancy floor 86%

Sensitivity live

Price	-10% $265	-5% $206	+0% $148	+5% $89	+10% $30
Rent	-10% $15	-5% $82	+0% $148	+5% $214	+10% $280
Rate	-1.0pp $233	-0.5pp $191	base $148	+0.5pp $104	+1.0pp $59

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: $42,500
• Closing costs: $5,100
• 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	9d	1	0.18mi
3903 E 18th St #13 Vancouver, WA	2.0	1.0	900	$1,495	$1.66	23d	1	0.23mi
1604 Bryant St #13 Vancouver, WA	2.0	1.0	780	$1,475	$1.89	25d	1	0.26mi
4325 E 17th St Unit 1 Vancouver, WA	2.0	1.0	700	$1,489	$2.13	14d	1	0.29mi
2478 Rossiter Ln Vancouver, WA	2.0–3.0	1.0–1.5	1100	$1,749	$1.59	4d	6	0.29mi
4012 E 16th St Unit A Vancouver, WA	2.0	1.0	950	$1,350	$1.42	21d	1	0.31mi
3911 Plomondon St Vancouver, WA	2.0	1.5	900	$1,795	$1.99	25d	1	0.33mi
4706 Sheridan Dr Vancouver, WA	3.0	1.0	1000	$2,300	$2.30	4d	1	0.33mi
3408 E 18th St Unit 3408-J Vancouver, WA	2.0	1.0	830	$1,695	$2.04	25d	1	0.34mi
3408 E 18th St Unit J Vancouver, WA	2.0	1.0	830	$1,695	$2.04	23d	1	0.34mi
2920 Falk Rd Vancouver, WA	2.0–3.0	2.5–3.0	1268	$2,375	$1.87	0d	1	0.38mi
3311 E 21st St Apt 12 Vancouver, WA	2.0	1.0	825	$1,200	$1.45	19d	1	0.39mi
3308 E 24th Cir Vancouver, WA	1.0	1.0	700	$1,795	$2.56	19d	1	0.40mi
2615 Neals Ln Vancouver, WA	2.0	1.0	850	$1,390	$1.64	4d	1	0.40mi
2815 Caples Ave Unit 1 Vancouver, WA	2.0	1.0	814	$1,695	$2.08	16d	1	0.40mi
4402 Gibbons St Unit 1 Vancouver, WA	2.0	1.0	890	$1,649	$1.85	25d	1	0.41mi
4601 E 18th St Vancouver, WA	1.0–3.0	1.0–2.0	1010	$1,734	$1.72	0d	12	0.43mi
2900 General Anderson Ave Vancouver, WA	1.0–3.0	1.0–2.0	880	$1,591	$1.81	0d	4	0.43mi
3306 E 18th St Unit WA3304-1 Vancouver, WA	3.0	2.0	1150	$1,825	$1.59	25d	1	0.43mi
2817 Neals Ln Vancouver, WA	2.0	1.0	900	$1,275	$1.42	25d	1	0.44mi
2009 Norris Rd Unit 6 Vancouver, WA	2.0	1.0	850	$1,295	$1.52	25d	1	0.44mi
4420 Gibbons St Unit B Vancouver, WA	2.0	1.0	900	$1,395	$1.55	14d	1	0.44mi
3100 Falk Rd Vancouver, WA	2.0–3.0	2.0–3.0	1234	$1,649	$1.34	3d	4	0.47mi
2212 Carlson Rd Vancouver, WA	2.0	1.0	780	$1,420	$1.82	12d	1	0.48mi
3622 E 13th St Vancouver, WA	2.0	1.0	800	$1,700	$2.12	21d	1	0.50mi
1530 Ash St Vancouver, WA	2.0	1.5	1020	$1,450	$1.42	16d	1	0.54mi
3212 E 13th St Unit 3214-2 Vancouver, WA	2.0	1.0	952	$1,595	$1.68	25d	1	0.62mi
2815 E 19th St Unit D Vancouver, WA	2.0	1.0	850	$1,395	$1.64	25d	1	0.63mi
2815 E 19th St Apt Q Vancouver, WA	2.0	1.0	850	$1,395	$1.64	23d	1	0.63mi
4918 Plomondon St Vancouver, WA	2.0	2.0	1000	$1,695	$1.70	9d	1	0.63mi
4500 Nicholson Rd Vancouver, WA	2.0–3.0	2.0	1034	$1,538	$1.49	0d	7	0.66mi
NE 47 NE 47th Ct Vancouver, WA	3.0	2.5	1475	$2,850	$1.93	3d	5	0.66mi
5301 Plomondon St Unit A6 Vancouver, WA	2.0	2.5	1491	$1,995	$1.34	23d	1	0.67mi
4316 NE 34th Cir Vancouver, WA	3.0	2.5	1482	$2,450	$1.65	0d	1	0.70mi
4316 NE 34th Cir Vancouver, WA	3.0	2.5	1482	$2,450	$1.65	3d	1	0.70mi
5500 NE Fourth Plain Blvd Vancouver, WA	1.0–2.0	1.0–2.0	768	$1,659	$2.16	4d	4	0.73mi
3011 Fairmount Ave Unit 3011 Vancouver, WA	2.0	1.0	1000	$1,725	$1.73	25d	1	0.74mi
5203 Ogden Ct Unit B Vancouver, WA	2.0	2.0	1118	$1,999	$1.79	9d	1	0.75mi
5203 Ogden Ct Unit B Vancouver, WA	2.0	2.0	1118	$1,999	$1.79	0d	1	0.75mi
3218 Edgewood Dr Unit 3224 D Vancouver, WA	2.0	1.0	890	$1,495	$1.68	25d	1	0.76mi

Listing history 15 events

1. 2026-06-21
   days on market $170,000 Active 110 DOM
2. 2026-06-18
   days on market $170,000 Active 107 DOM
3. 2026-06-17
   days on market $170,000 Active 106 DOM
4. 2026-06-16
   days on market $170,000 Active 105 DOM
5. 2026-06-15
   days on market $170,000 Active 104 DOM
6. 2026-06-13
   days on market $170,000 Active 102 DOM
7. 2026-06-09
   days on market $170,000 Active 98 DOM
8. 2026-06-08
   days on market $170,000 Active 97 DOM
9. 2026-06-07
   days on market $170,000 Active 96 DOM
10. 2026-06-03
    days on market $170,000 Active 92 DOM
11. 2026-06-02
    days on market $170,000 Active 91 DOM
12. 2026-06-01
    days on market $170,000 Active 90 DOM
13. 2026-05-31
    days on market $170,000 Active 89 DOM
14. 2026-05-19
    price $170,000 809-char remark

    Show marketing remark (809 chars)

    Discover a charming 2 bed, 2 bath home in vibrant Vancouver, WA. Spanning 1,152 sq ft, this cozy manufactured home is updated with modern LVP flooring and fresh paint throughout. The kitchen delights with an updated design, tile backsplash, and a new dishwasher. Enjoy comfort year-round with a newer furnace, heat pump, and windows. Outdoors, a large fenced backyard and a covered patio offer private relaxation or entertaining space. Additionally, there's a 16x10 shop for hobbies or storage. With rent at $650 a month, water, sewer, and trash are included, and pets are welcome. This delightful home is situated in a 55+ community with no HOA fees, conveniently close to shopping centers, schools, and major freeways like 205 and I-5. Downtown Vancouver and Vancouver Mall are nearby for added convenience.

15. 2026-03-01
    listed $175,000 Active 809-char remark

    Show marketing remark (809 chars)

    Discover a charming 2 bed, 2 bath home in vibrant Vancouver, WA. Spanning 1,152 sq ft, this cozy manufactured home is updated with modern LVP flooring and fresh paint throughout. The kitchen delights with an updated design, tile backsplash, and a new dishwasher. Enjoy comfort year-round with a newer furnace, heat pump, and windows. Outdoors, a large fenced backyard and a covered patio offer private relaxation or entertaining space. Additionally, there's a 16x10 shop for hobbies or storage. With rent at $650 a month, water, sewer, and trash are included, and pets are welcome. This delightful home is situated in a 55+ community with no HOA fees, conveniently close to shopping centers, schools, and major freeways like 205 and I-5. Downtown Vancouver and Vancouver Mall are nearby for added convenience.

ⓘ 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: $20,088
• − Mortgage interest: −$9,523
• − Property taxes: −$2,550
• − Insurance: −$850
• − Repairs & maintenance: −$1,607
• − Management: −$1,607
• − Depreciation: −$4,945
• Taxable loss: −$994
• Est. tax savings @ 24.0%: +$239
• After-tax cash flow: $2,010/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

-2.9% since first listed

2 events — show timeline

• 2026-05-19 Price Changed $170,000 RMLS
• 2026-03-01 Listed $175,000 RMLS

Property tax history

+17.9%/yr

Latest (2026): $288 · +53.3% YoY. Source: county tax records.