369 Gun Club Rd #40 · Woodland, WA 98674

$124,900

3 bd · 2.0 ba · 1,402 sqft · Manufactured public records · 116 Days on market

Built 1996 5,236 sqft lot $89/sqft · at area comps Est $123k · at est.

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +6.8/15.0
• Schools +5.0/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Spacious and well-kept manufactured home in Woodland East’s desirable 55+ community, featuring extensive upgrades throughout. Offering 1,402 square feet plus an oversized covered deck. Bright and inviting with vaulted ceilings and solar tubes. The kitchen features custom cabinets, and newer quartz countertops. New flooring in the kitchen and bathrooms plus new carpet! Open living and dining areas flow nicely to three bedrooms and two bathrooms. The primary suite is located on one end of the home with two additional bedrooms on the opposite side. Situated on an oversized lot with two storage areas and a tool shed with electrical. Recent improvements include a newer heat pump, exterior paint, and appliances, $49K in upgrades completed within the past five years.

Key facts

• Custom cabinets
• New flooring
• Two storage areas

Tags

• OVERSIZED COVERED DECK
• CUSTOM CABINETS
• NEWER QUARTZ COUNTERTOPS
• NEW FLOORING
• TWO STORAGE AREAS
• TOOL SHED WITH ELECTRICAL

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $125k.

Deal economics

• At list price, monthly cash flow is $837 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $125k).
• Recommended offer: $114k (9.0% below list) — sets the bar for market timing.
• Cap rate 18.4% vs local median 2.7% in Woodland — 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 77/100 on livability (#152 in WA, #3,252 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, amenities B+; Watch: schools D+, commute F.
• Woodland School District (town): math 48% / reading 62% proficiency, ranked #94 of 291 in WA (top 32%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 220 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 348 units permitted in Cowlitz County in 2024 (40 in 5+ unit buildings).
• This rent runs 33% of the median local income ($94k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $864 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Cowlitz County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $35k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 116 days — a 9% lower offer ($114k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 6y ago; this cycle's ask has dropped $25k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $92k; 35% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $113,659 (9.0% below list)

Questions for the listing agent

1. It's been on market 116 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. 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?
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: 2.07% ✓
• Cap rate: 18.44%
• Cash-on-cash: 43.37%
• DSCR: 2.93
• GRM: 4.0

CMA / ARV

• ARV (median comp): $123,000
• List price: $124,900
• Delta: 1.54%
• Verdict: FAIR
• Comps: 16 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
369 Gun Club Rd #75	0.10mi	3/2.0	1,404 (+0%)	2mo	$103,000	$73	94
369 Gun Club Rd #88	0.12mi	3/2.0	1,404 (+0%)	4mo	$85,000	$61	91
369 Gun Club Rd #108	0.07mi	2/2.0 (-1)	1,404 (+0%)	10mo	$95,000	$68	83
369 Gun Club Rd #60	0.12mi	3/2.0	1,496 (+7%)	1mo	$121,000	$81	82
369 Gun Club Rd #70	0.13mi	3/2.0	1,484 (+6%)	6mo	$85,500	$58	79
369 Gun Club Rd #78	0.08mi	3/2.0	1,296 (-8%)	9mo	$45,000	$35	76
369 Gun Club Rd #114	0.07mi	2/2.0 (-1)	1,512 (+8%)	5mo	$140,000	$93	74
369 Gun Club Rd #7	0.13mi	3/2.0	1,296 (-8%)	12mo	$70,000	$54	71
1850 Heartwood Dr	0.48mi	3/2.0	1,426 (+2%)	5mo	$225,000	$158	70
275 Sycamore St	0.50mi	3/2.0	1,432 (+2%)	8mo	$412,500	$288	67
319 Scott Hill Rd	0.73mi	3/2.0	1,400 (-0%)	11mo	$300,000	$214	56
215 Sycamore St	0.58mi	3/2.0	1,200 (-14%)	3mo	$383,000	$319	46

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 23.2%
• Equity multiple: 1.95×
• Total profit: $33,336
• Equity at exit: $18,623

10-year hold

• IRR: 31.2%
• Equity multiple: 3.82×
• Total profit: $98,701
• Equity at exit: $10,799

Cash invested: $34,972 (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 98674

• Home prices YoY: -21.8%
• Active inventory: 220
• Price-to-rent: 4.0×

Monthly cashflow live

• Estimated rent: $2,582 medium
• Mortgage (P&I): −$655
• Tax from tax record: −$69 /mo · $831/yr
• Insurance: −$52
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$542
• Net cashflow: $837

Break-even live

Break-even rent $1,523

Max offer price $124,900

Occupancy floor 63%

Sensitivity live

Price	-10% $908	-5% $873	+0% $837	+5% $802	+10% $767
Rent	-10% $633	-5% $735	+0% $837	+5% $939	+10% $1,041
Rate	-1.0pp $900	-0.5pp $869	base $837	+0.5pp $805	+1.0pp $772

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: $31,225
• Closing costs: $3,747
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
332 York St Unit 2 Woodland, WA	3.0	2.0	1497	$2,529	$1.69	44d	1	0.21mi
2179 Dahlia St Woodland, WA	3.0	2.0	1096	$2,225	$2.03	20d	1	0.42mi
1451 N Goerig St Unit 1459-5 Woodland, WA	2.0	2.0	1048	$1,450	$1.38	3d	1	1.13mi

Listing history 25 events

1. 2026-06-14
   statusdays on market $124,900 Pending 116 DOM
2. 2026-06-13
   days on market $124,900 Active 115 DOM
3. 2026-06-10
   days on market $124,900 Active 113 DOM
4. 2026-06-09
   days on market $124,900 Active 112 DOM
5. 2026-06-08
   days on market $124,900 Active 111 DOM
6. 2026-06-07
   days on market $124,900 Active 110 DOM
7. 2026-06-05
   days on market $124,900 Active 107 DOM
8. 2026-06-03
   days on market $124,900 Active 106 DOM
9. 2026-06-02
   days on market $124,900 Active 105 DOM
10. 2026-06-01
    days on market $124,900 Active 104 DOM
11. 2026-05-31
    days on market $124,900 Active 103 DOM
12. 2026-05-30
    days on market $124,900 Active 102 DOM
13. 2026-03-28
    price $139,900

    Show marketing remark (776 chars)

    Spacious and well-kept manufactured home in Woodland East’s desirable 55+ community, featuring extensive upgrades throughout. Offering 1,402 square feet plus an oversized covered deck. Bright and inviting with vaulted ceilings and solar tubes. The kitchen features custom cabinets, and newer quartz countertops. New flooring in the kitchen and bathrooms plus new carpet! Open living and dining areas flow nicely to three bedrooms and two bathrooms. The primary suite is located on one end of the home with two additional bedrooms on the opposite side. Situated on an oversized lot with two storage areas and a tool shed with electrical. Recent improvements include a newer heat pump, exterior paint, and appliances, $49K in upgrades completed within the past five years.

14. 2026-03-28
    price $139,900 776-char remark

    Show marketing remark (776 chars)

    Spacious and well-kept manufactured home in Woodland East’s desirable 55+ community, featuring extensive upgrades throughout. Offering 1,402 square feet plus an oversized covered deck. Bright and inviting with vaulted ceilings and solar tubes. The kitchen features custom cabinets, and newer quartz countertops. New flooring in the kitchen and bathrooms plus new carpet! Open living and dining areas flow nicely to three bedrooms and two bathrooms. The primary suite is located on one end of the home with two additional bedrooms on the opposite side. Situated on an oversized lot with two storage areas and a tool shed with electrical. Recent improvements include a newer heat pump, exterior paint, and appliances, $49K in upgrades completed within the past five years.

15. 2026-02-17
    listed $149,900 Active

    Show marketing remark (776 chars)

    Spacious and well-kept manufactured home in Woodland East’s desirable 55+ community, featuring extensive upgrades throughout. Offering 1,402 square feet plus an oversized covered deck. Bright and inviting with vaulted ceilings and solar tubes. The kitchen features custom cabinets, and newer quartz countertops. New flooring in the kitchen and bathrooms plus new carpet! Open living and dining areas flow nicely to three bedrooms and two bathrooms. The primary suite is located on one end of the home with two additional bedrooms on the opposite side. Situated on an oversized lot with two storage areas and a tool shed with electrical. Recent improvements include a newer heat pump, exterior paint, and appliances, $49K in upgrades completed within the past five years.

16. 2026-02-17
    listed $149,900 Active 776-char remark

    Show marketing remark (776 chars)

    Spacious and well-kept manufactured home in Woodland East’s desirable 55+ community, featuring extensive upgrades throughout. Offering 1,402 square feet plus an oversized covered deck. Bright and inviting with vaulted ceilings and solar tubes. The kitchen features custom cabinets, and newer quartz countertops. New flooring in the kitchen and bathrooms plus new carpet! Open living and dining areas flow nicely to three bedrooms and two bathrooms. The primary suite is located on one end of the home with two additional bedrooms on the opposite side. Situated on an oversized lot with two storage areas and a tool shed with electrical. Recent improvements include a newer heat pump, exterior paint, and appliances, $49K in upgrades completed within the past five years.

17. 2020-08-14
    soldstatus $92,500 Sold 504-char remark

    Show marketing remark (504 chars)

    Spacious & well kept manufactured home in Woodland East's 55+park. 1404 sq ft plus an enclosed outdoor sun room for extra outdoor living space. Extra bright with solar tubes and vaulted ceilings, Nice white kitchen cabinets with pull out drawers and white appliances. The living room and dining room are open and have a great flow to the 3 bedrooms and 2 full bathrooms. Master bed&bath on one side w/ 2 bedrooms on the opposite end. Sits on an oversized lot with 2 storage areas & tool shed.

18. 2020-08-14
    soldstatus $92,500 Sold

    Show marketing remark (504 chars)

    Spacious & well kept manufactured home in Woodland East's 55+park. 1404 sq ft plus an enclosed outdoor sun room for extra outdoor living space. Extra bright with solar tubes and vaulted ceilings, Nice white kitchen cabinets with pull out drawers and white appliances. The living room and dining room are open and have a great flow to the 3 bedrooms and 2 full bathrooms. Master bed&bath on one side w/ 2 bedrooms on the opposite end. Sits on an oversized lot with 2 storage areas & tool shed.

19. 2020-08-06
    status Pending
20. 2020-07-20
    status Pending Inspection
21. 2020-07-17
    status Pending 504-char remark

    Show marketing remark (504 chars)

    Spacious & well kept manufactured home in Woodland East's 55+park. 1404 sq ft plus an enclosed outdoor sun room for extra outdoor living space. Extra bright with solar tubes and vaulted ceilings, Nice white kitchen cabinets with pull out drawers and white appliances. The living room and dining room are open and have a great flow to the 3 bedrooms and 2 full bathrooms. Master bed&bath on one side w/ 2 bedrooms on the opposite end. Sits on an oversized lot with 2 storage areas & tool shed.

22. 2020-06-10
    price $97,500

    Show marketing remark (504 chars)

    Spacious & well kept manufactured home in Woodland East's 55+park. 1404 sq ft plus an enclosed outdoor sun room for extra outdoor living space. Extra bright with solar tubes and vaulted ceilings, Nice white kitchen cabinets with pull out drawers and white appliances. The living room and dining room are open and have a great flow to the 3 bedrooms and 2 full bathrooms. Master bed&bath on one side w/ 2 bedrooms on the opposite end. Sits on an oversized lot with 2 storage areas & tool shed.

23. 2020-06-10
    price $97,500 504-char remark

    Show marketing remark (504 chars)

    Spacious & well kept manufactured home in Woodland East's 55+park. 1404 sq ft plus an enclosed outdoor sun room for extra outdoor living space. Extra bright with solar tubes and vaulted ceilings, Nice white kitchen cabinets with pull out drawers and white appliances. The living room and dining room are open and have a great flow to the 3 bedrooms and 2 full bathrooms. Master bed&bath on one side w/ 2 bedrooms on the opposite end. Sits on an oversized lot with 2 storage areas & tool shed.

24. 2020-06-03
    listed $114,000 Active 504-char remark

    Show marketing remark (504 chars)

    Spacious & well kept manufactured home in Woodland East's 55+park. 1404 sq ft plus an enclosed outdoor sun room for extra outdoor living space. Extra bright with solar tubes and vaulted ceilings, Nice white kitchen cabinets with pull out drawers and white appliances. The living room and dining room are open and have a great flow to the 3 bedrooms and 2 full bathrooms. Master bed&bath on one side w/ 2 bedrooms on the opposite end. Sits on an oversized lot with 2 storage areas & tool shed.

25. 2020-05-25
    listed $114,000 Active

ⓘ 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: $831 · $69/mo
• Projected year-2 tax: $1,224 · $102/mo
• Expected delta: +$394/yr (+$33/mo · 47.4%)

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

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone AE · 76% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 3/10 Moderate 8 d/yr ≥91°F today · 18 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 8/10 Severe 9 unhealthy d/yr today · 11 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,988
• − Mortgage interest: −$6,996
• − Property taxes: −$831
• − Insurance: −$5,743
• − Repairs & maintenance: −$2,479
• − Management: −$2,479
• − Depreciation: −$3,633
• Taxable income: $8,827
• Est. tax owed @ 24.0%: −$2,118
• After-tax cash flow: $7,929/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: Woodland School District
• NCES district ID: 5310050
• Math proficiency: 48% ▲ 4.00%
• Reading proficiency: 62% ▲ 4.00%
• Median HH income: $60,973
• Composite: 49.77/100
• National rank: #4219
• State rank: #94 of 291 in WA

Livability — Woodland

• Score: 77/100
• State rank: #152
• US rank: #3252

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Woodland, WA
• County: Clark County · 513,189 people
• City population: 17,525
• Metro: Longview, WA
• Population (ZIP): 17,525
• Household income: $94,245
• Rent vs Own: 26.8% rent · 73.2% own
• Severe rent burden: 209.0

Population outlook (Cowlitz County) Hauer SSP2

• Today (2025): 104,780 people
• By 2030: 103,980 · -0.8%
• By 2040: 100,769 · -3.8%
• By 2050: 96,685 · -7.7%
• By 2075: 86,454 · -17.5%
• By 2100: 74,052 · -29.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (79%)
• Race & ethnicity: White 79% Hispanic / Latino 14% Two or more races 9% Black 1% Asian 1%
• Hispanic origin (detail): Mexican 10%
• Common ancestry: Portuguese 4% Italian 3% Lithuanian 2%
• Foreign-born: 7% · Canada, Jamaica
• Languages at home: 86% English-only · Spanish 9% German/W. Germanic 2% French/Haitian/Cajun 1%

Political lean MEDSL · Cowlitz

• 2024 margin: R (+19.9) · D 38.7% · R 58.6% · Other 2.7%
• 2008→2024 swing: -31.1pp toward R · 2008: 11.2pp · 2024: -19.9pp
• All cycles: 2024: R+19.9 2020: R+17.4 2016: R+13.7 2012: D+4.4 2008: D+11.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -92.68%
• Current HPI: 333.4106
• Rent YoY: —
• Metro: Longview, 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

+22.7% since first listed

13 events — show timeline

• 2026-03-28 Price Changed $139,900 NWMLS as Distributed by MLS Grid
• 2026-03-28 Price Changed $139,900 RMLS
• 2026-02-17 Listed $149,900 RMLS
• 2026-02-17 Listed $149,900 NWMLS as Distributed by MLS Grid
• 2020-08-14 Sold (MLS) $92,500 NWMLS as Distributed by MLS Grid
• 2020-08-14 Sold (MLS) $92,500 RMLS
• 2020-08-06 Pending — NWMLS as Distributed by MLS Grid
• 2020-07-20 Pending — NWMLS as Distributed by MLS Grid
• 2020-07-17 Pending — RMLS
• 2020-06-10 Price Changed $97,500 NWMLS as Distributed by MLS Grid
• 2020-06-10 Price Changed $97,500 RMLS
• 2020-06-03 Listed $114,000 RMLS
• 2020-05-25 Listed $114,000 NWMLS as Distributed by MLS Grid

Property tax history

+3.0%/yr

Latest (2026): $831 · -5.4% YoY. Source: county tax records.