17401 SE 39th St · Vancouver, WA 98683

$164,000

2 bd · 2.0 ba · 1,599 sqft · Land · 96 Days on market

Built 1984 $103/sqft · 17% above area Est $141k · 17% over

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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 +28.5/30.0
• DSCR +10.0/10.0
• 1% rule +7.9/10.0
• Schools +4.3/10.0
• Livability +4.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Buyer can take over sellers lease of $693 till 7/2026 an exceptional opportunity to reduce your monthly expenses Welcome to this spacious manufactured home in the desirable Vista Del Rio 55+ Park #154. This well-maintained home offers both a comfortable living room and a separate family room, perfect for relaxing or entertaining. The primary bedroom is generously sized and features a private tub, creating a peaceful retreat. All rooms offer ample space and great natural flow throughout the home. The kitchen is thoughtfully designed with a breakfast bar, built-in appliances, and a convenient pantry area, ideal for everyday living. Outside, enjoy a private patio, along with a storage unit and covered carport for added convenience. Located in a quiet, well-kept community, Vista Del Rio Park offers a peaceful setting while remaining close to shopping, dining, and entertainment.

Key facts

• Private tub
• Vista del rio park
• Manufactured home

Tags

• MANUFACTURED HOME
• VISTA DEL RIO PARK
• COMFORTABLE LIVING ROOM
• SEPARATE FAMILY ROOM
• PRIVATE TUB
• BREAKFAST BAR

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath land listed at $164k.

Deal economics

• At list price, monthly cash flow is $535 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $164k).
• Recommended offer: $149k (9.0% below list) — sets the bar for market timing.
• Cap rate 10.2% 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-.
• Evergreen School District (Clark) (urban): math 41% / reading 51% proficiency, ranked #164 of 291 in WA (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents soft (-0.1%/yr); 175 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 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 96 days — a 9% lower offer ($149k) is reasonable based on typical stale-listing flexibility.
• 13 sale attempts since 29y ago; this cycle's ask has dropped $21k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $149,240 (9.0% below list)

Questions for the listing agent

1. It's been on market 96 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 1.29% ✓
• Cap rate: 10.21%
• Cash-on-cash: 13.98%
• DSCR: 1.62
• GRM: 6.5

CMA / ARV

• ARV (median comp): $140,570
• List price: $164,000
• Delta: 16.67%
• Verdict: OVERPRICED
• Comps: 9 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 0.8%
• Equity multiple: 1.03×
• Total profit: $1,331
• Equity at exit: $24,453

10-year hold

• IRR: 7.1%
• Equity multiple: 1.46×
• Total profit: $21,234
• Equity at exit: $14,180

Cash invested: $45,920 (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 98683

• Rents YoY: -0.1%
• Active inventory: 175
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $2,112 high
• Mortgage (P&I): −$860
• Tax est. 1.5%: −$205 /mo · $2,460/yr
• Insurance: −$68
• HOA: −$0
• Vacancy / Maint / Mgmt: −$443
• Net cashflow: $535

Break-even live

Break-even rent $1,435

Max offer price $164,000

Occupancy floor 70%

Sensitivity live

Price	-10% $648	-5% $591	+0% $535	+5% $478	+10% $421
Rent	-10% $368	-5% $451	+0% $535	+5% $618	+10% $702
Rate	-1.0pp $617	-0.5pp $577	base $535	+0.5pp $492	+1.0pp $449

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: $41,000
• Closing costs: $4,920
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3100 SE 168th Ave Vancouver, WA	1.0–3.0	1.0–2.5	1040	$2,205	$2.12	2d	14	0.54mi
16506 SE 29th St Vancouver, WA	1.0–3.0	1.0–2.0	1062	$1,962	$1.85	2d	13	0.67mi
2610 SE 164th Ave Unit G12 Vancouver, WA	2.0	2.0	1130	$2,265	$2.00	44d	1	0.87mi
Chase LNDG Gresham, OR	3.0	2.5	1389	$2,200	$1.58	13d	3	0.99mi
1600 SE 168th Ave Vancouver, WA	3.0	1.5	1210	$2,350	$1.94	5d	1	1.18mi
2220 SE 192nd Ave Vancouver, WA	1.0–2.0	1.0–2.0	905	$1,979	$2.19	2d	4	1.18mi
3114 SE 147th Pl Vancouver, WA	2.0–3.0	1.5	1271	$1,825	$1.44	15d	12	1.34mi
5515 NW Pacific Rim Blvd Camas, WA	1.0–2.0	1.0–2.0	1121	$3,999	$3.57	2d	18	1.40mi
5988 NW 38th Ave Camas, WA	1.0–2.0	1.0–2.0	922	$2,461	$2.67	2d	12	1.42mi

Listing history 38 events

1. 2026-05-16
   status Pending 886-char remark

   Show marketing remark (886 chars)

   Buyer can take over sellers lease of $693 till 7/2026 an exceptional opportunity to reduce your monthly expenses Welcome to this spacious manufactured home in the desirable Vista Del Rio 55+ Park #154. This well-maintained home offers both a comfortable living room and a separate family room, perfect for relaxing or entertaining. The primary bedroom is generously sized and features a private tub, creating a peaceful retreat. All rooms offer ample space and great natural flow throughout the home. The kitchen is thoughtfully designed with a breakfast bar, built-in appliances, and a convenient pantry area, ideal for everyday living. Outside, enjoy a private patio, along with a storage unit and covered carport for added convenience. Located in a quiet, well-kept community, Vista Del Rio Park offers a peaceful setting while remaining close to shopping, dining, and entertainment.

2. 2026-04-23
   price $164,000 886-char remark

   Show marketing remark (886 chars)

   Buyer can take over sellers lease of $693 till 7/2026 an exceptional opportunity to reduce your monthly expenses Welcome to this spacious manufactured home in the desirable Vista Del Rio 55+ Park #154. This well-maintained home offers both a comfortable living room and a separate family room, perfect for relaxing or entertaining. The primary bedroom is generously sized and features a private tub, creating a peaceful retreat. All rooms offer ample space and great natural flow throughout the home. The kitchen is thoughtfully designed with a breakfast bar, built-in appliances, and a convenient pantry area, ideal for everyday living. Outside, enjoy a private patio, along with a storage unit and covered carport for added convenience. Located in a quiet, well-kept community, Vista Del Rio Park offers a peaceful setting while remaining close to shopping, dining, and entertainment.

3. 2026-04-07
   price $169,000 886-char remark

   Show marketing remark (886 chars)

   Buyer can take over sellers lease of $693 till 7/2026 an exceptional opportunity to reduce your monthly expenses Welcome to this spacious manufactured home in the desirable Vista Del Rio 55+ Park #154. This well-maintained home offers both a comfortable living room and a separate family room, perfect for relaxing or entertaining. The primary bedroom is generously sized and features a private tub, creating a peaceful retreat. All rooms offer ample space and great natural flow throughout the home. The kitchen is thoughtfully designed with a breakfast bar, built-in appliances, and a convenient pantry area, ideal for everyday living. Outside, enjoy a private patio, along with a storage unit and covered carport for added convenience. Located in a quiet, well-kept community, Vista Del Rio Park offers a peaceful setting while remaining close to shopping, dining, and entertainment.

4. 2026-03-01
   price $175,000 886-char remark

   Show marketing remark (886 chars)

   Buyer can take over sellers lease of $693 till 7/2026 an exceptional opportunity to reduce your monthly expenses Welcome to this spacious manufactured home in the desirable Vista Del Rio 55+ Park #154. This well-maintained home offers both a comfortable living room and a separate family room, perfect for relaxing or entertaining. The primary bedroom is generously sized and features a private tub, creating a peaceful retreat. All rooms offer ample space and great natural flow throughout the home. The kitchen is thoughtfully designed with a breakfast bar, built-in appliances, and a convenient pantry area, ideal for everyday living. Outside, enjoy a private patio, along with a storage unit and covered carport for added convenience. Located in a quiet, well-kept community, Vista Del Rio Park offers a peaceful setting while remaining close to shopping, dining, and entertainment.

5. 2026-02-09
   listed $185,000 Active 886-char remark

   Show marketing remark (886 chars)

   Buyer can take over sellers lease of $693 till 7/2026 an exceptional opportunity to reduce your monthly expenses Welcome to this spacious manufactured home in the desirable Vista Del Rio 55+ Park #154. This well-maintained home offers both a comfortable living room and a separate family room, perfect for relaxing or entertaining. The primary bedroom is generously sized and features a private tub, creating a peaceful retreat. All rooms offer ample space and great natural flow throughout the home. The kitchen is thoughtfully designed with a breakfast bar, built-in appliances, and a convenient pantry area, ideal for everyday living. Outside, enjoy a private patio, along with a storage unit and covered carport for added convenience. Located in a quiet, well-kept community, Vista Del Rio Park offers a peaceful setting while remaining close to shopping, dining, and entertainment.

6. 2024-09-30
   soldstatus $209,500 Closed 1242-char remark

   Show marketing remark (1242 chars)

   If you're looking to transition to a more peaceful stage of life, checkout this wonderfully updated double wide manufactured home in stunning Vista Del Rio. This 55+ community features club house with outdoor pool, library, party room, gym, water, sewer and park rent all for just $700/month. As you stroll into this 2 bedroom home, you'll be greeted by bright natural light, brisk A/C, vinyl plank flooring, and an illuminated built in display case. As you make your way into the kitchen, you'll find updated cabinets, granite counters, larger than life island and stainless appliances. Everything you need for hosting gatherings with friends or family. Primary bedroom hosts oversized closet and with updated ensuite featuring generously sized tile step in shower, newer vanity and designer touches. Second bedroom is a junior suite so it has its own bathroom with step in tile shower too! Office nook and laundry to top it off. From the carport you'll find additional storage and small workshop. Heading into the backyard, you'll notice another storage shed, covered patio and gorgeously decorated garden beds. The location of this home is a dream as it sits next to the community garden space. Open House: Saturday, July 27 from 11AM-1PM.

7. 2024-08-29
   status Pending 1242-char remark

   Show marketing remark (1242 chars)

   If you're looking to transition to a more peaceful stage of life, checkout this wonderfully updated double wide manufactured home in stunning Vista Del Rio. This 55+ community features club house with outdoor pool, library, party room, gym, water, sewer and park rent all for just $700/month. As you stroll into this 2 bedroom home, you'll be greeted by bright natural light, brisk A/C, vinyl plank flooring, and an illuminated built in display case. As you make your way into the kitchen, you'll find updated cabinets, granite counters, larger than life island and stainless appliances. Everything you need for hosting gatherings with friends or family. Primary bedroom hosts oversized closet and with updated ensuite featuring generously sized tile step in shower, newer vanity and designer touches. Second bedroom is a junior suite so it has its own bathroom with step in tile shower too! Office nook and laundry to top it off. From the carport you'll find additional storage and small workshop. Heading into the backyard, you'll notice another storage shed, covered patio and gorgeously decorated garden beds. The location of this home is a dream as it sits next to the community garden space. Open House: Saturday, July 27 from 11AM-1PM.

8. 2024-07-24
   listed $220,000 Active 1242-char remark

   Show marketing remark (1242 chars)

   If you're looking to transition to a more peaceful stage of life, checkout this wonderfully updated double wide manufactured home in stunning Vista Del Rio. This 55+ community features club house with outdoor pool, library, party room, gym, water, sewer and park rent all for just $700/month. As you stroll into this 2 bedroom home, you'll be greeted by bright natural light, brisk A/C, vinyl plank flooring, and an illuminated built in display case. As you make your way into the kitchen, you'll find updated cabinets, granite counters, larger than life island and stainless appliances. Everything you need for hosting gatherings with friends or family. Primary bedroom hosts oversized closet and with updated ensuite featuring generously sized tile step in shower, newer vanity and designer touches. Second bedroom is a junior suite so it has its own bathroom with step in tile shower too! Office nook and laundry to top it off. From the carport you'll find additional storage and small workshop. Heading into the backyard, you'll notice another storage shed, covered patio and gorgeously decorated garden beds. The location of this home is a dream as it sits next to the community garden space. Open House: Saturday, July 27 from 11AM-1PM.

9. 2021-04-20
   soldstatus $125,000 Sold
10. 2021-03-11
    status Pending
11. 2021-03-04
    soldstatus $149,900
12. 2021-02-24
    status Active
13. 2021-02-20
    status Pending
14. 2021-02-20
    price $139,900
15. 2021-01-28
    listed $145,000 Active
16. 2021-01-06
    listed $149,900
17. 2020-07-01
    soldstatus $155,000 Sold
18. 2020-05-24
    status Pending
19. 2020-05-15
    listed $160,000 Active
20. 2016-03-25
    soldstatus $70,000 Sold
21. 2016-03-04
    status Pending
22. 2016-02-26
    listed $72,500 Active
23. 2015-11-25
    soldstatus $80,000 Sold
24. 2015-10-14
    historical
25. 2015-10-12
    listed $75,000
26. 2011-01-10
    soldstatus $68,000 Sold
27. 2010-12-10
    status Pending
28. 2010-11-03
    listed $69,900 Active
29. 2009-08-10
    soldstatus $83,000
30. 2009-07-10
    historical
31. 2009-06-23
    listed $88,000
32. 2006-10-24
    soldstatus $50,000
33. 2006-10-16
    historical
34. 2006-09-11
    listed $54,900
35. 2006-04-10
    soldstatus $100,000
36. 2006-01-16
    listed $109,900
37. 1997-04-01
    soldstatus $70,000
38. 1997-02-15
    listed $70,000

ⓘ 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: $25,339
• − Mortgage interest: −$9,187
• − Property taxes: −$2,460
• − Insurance: −$820
• − Repairs & maintenance: −$2,027
• − Management: −$2,027
• − Depreciation: −$4,771
• Taxable income: $4,048
• Est. tax owed @ 24.0%: −$971
• After-tax cash flow: $5,446/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: Evergreen School District (Clark)
• NCES district ID: 5302700
• Math proficiency: 41% ▼ -3.00%
• Reading proficiency: 51% ▼ -3.00%
• Median HH income: $59,418
• Composite: 42.53/100
• National rank: #6859
• State rank: #164 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): 32,107
• Household income: $87,659
• Rent vs Own: 43.1% rent · 56.9% own
• Severe rent burden: 1485.0

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: Diverse neighborhood (Simpson 0.55)
• Race & ethnicity: White 65% Hispanic / Latino 13% Two or more races 11% Asian 10% Pacific Islander 2% Black 2%
• Hispanic origin (detail): Mexican 10% Puerto Rican 1%
• Common ancestry: Slovak 3% Portuguese 3% Lithuanian 2%
• Foreign-born: 14% · Canada, China, South Korea
• Languages at home: 81% English-only · Spanish 7% Other Asian/Pacific 3% Chinese 3%

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: ▼ -273.47%
• Current HPI: 296.9734
• Rent YoY: ▼ -0.06%
• 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

+134.3% since first listed

38 events — show timeline

• 2026-05-16 Pending — RMLS
• 2026-04-23 Price Changed $164,000 RMLS
• 2026-04-07 Price Changed $169,000 RMLS
• 2026-03-01 Price Changed $175,000 RMLS
• 2026-02-09 Listed $185,000 RMLS
• 2024-09-30 Sold (MLS) $209,500 RMLS
• 2024-08-29 Pending — RMLS
• 2024-07-24 Listed $220,000 RMLS
• 2021-04-20 Sold (MLS) $125,000 RMLS
• 2021-03-11 Pending — RMLS
• 2021-03-04 Sold (MLS) $149,900 RMLS
• 2021-02-24 Relisted — RMLS
• 2021-02-20 Pending — RMLS
• 2021-02-20 Price Changed $139,900 RMLS
• 2021-01-28 Listed $145,000 RMLS
• 2021-01-06 Listed $149,900 RMLS
• 2020-07-01 Sold (MLS) $155,000 RMLS
• 2020-05-24 Pending — RMLS
• 2020-05-15 Listed $160,000 RMLS
• 2016-03-25 Sold (MLS) $70,000 RMLS
• 2016-03-04 Pending — RMLS
• 2016-02-26 Listed $72,500 RMLS
• 2015-11-25 Sold (MLS) $80,000 NWMLS as Distributed by MLS Grid
• 2015-10-14 Delisted — NWMLS as Distributed by MLS Grid
• 2015-10-12 Listed $75,000 NWMLS as Distributed by MLS Grid
• 2011-01-10 Sold (MLS) $68,000 RMLS
• 2010-12-10 Pending — RMLS
• 2010-11-03 Listed $69,900 RMLS
• 2009-08-10 Sold (MLS) $83,000 RMLS
• 2009-07-10 Delisted — RMLS
• 2009-06-23 Listed $88,000 RMLS
• 2006-10-24 Sold (MLS) $50,000 RMLS
• 2006-10-16 Delisted — RMLS
• 2006-09-11 Listed $54,900 RMLS
• 2006-04-10 Sold (MLS) $100,000 NWMLS as Distributed by MLS Grid
• 2006-01-16 Listed $109,900 NWMLS as Distributed by MLS Grid
• 1997-04-01 Sold (MLS) $70,000 RMLS
• 1997-02-15 Listed $70,000 RMLS

Property tax history

+13.9%/yr

Latest (2026): $155,030 · +95.2% YoY. Source: county tax records.