131 17th Ave · Longview, WA 98632

$135,000

2 bd · 1.0 ba · 660 sqft · SingleFamily public records · 94 Days on market

Built 1925 4,800 sqft lot $205/sqft · 40% below area Est $248k · 45% under

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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 +18.7/30.0
• ARV discount +15.0/15.0
• DSCR +5.9/10.0
• 1% rule +4.7/10.0
• Schools +4.0/10.0
• Livability +3.6/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

INVESTOR ALERT! 2 Bed 1 Bath 660 Sq Ft Home, ready for a Beautiful Remodel! Most of the Demolition and Clearing of the home has been Completed. This property would make a great "Fix and Flip" or "Long Term Rental Property". The lot is 4800 Sq Ft and is partially fenced. There was a detached garage that has been removed leaving a usable cement pad. In the back yard there is Plenty of Space for RV Parking, a New Garage, Possible ADU, ect. .. .. This property is Zoned "R4" which could allow for Multi-Family structures or potential "ADU". Buyer to verify "Land Use Details". For land use questions call the City of Longview for potential land use

Key facts

• 4,800 sq ft lot
• Garage
• Built 1925

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $133 ($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 $131k (3.2% below list).
• Recommended offer: $123k (9.0% below list) — sets the bar for market timing.
• Cap rate 7.5% vs local median 3.0% in Longview — 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 71/100 on livability (#228 in WA) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living A-; Watch: crime C-, employment D+, commute F.
• Longview School District (urban): math 40% / reading 51% proficiency, ranked #185 of 291 in WA (top 64%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+2.6%/yr); 356 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 348 units permitted in Cowlitz County in 2024 (40 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $933 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.

Negotiation context

• It's been on market 94 days — a 9% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $8k; list at $135k implies a 1588% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $122,850 (9.0% below list)

Questions for the listing agent

1. It's been on market 94 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 1925 — 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. 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: 0.97% ✗
• Cap rate: 7.47%
• Cash-on-cash: 4.22%
• DSCR: 1.19
• GRM: 8.6

CMA / ARV

• ARV (median comp): $247,697
• List price: $135,000
• Delta: -45.50%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
234 19th Ave	0.11mi	2/1.0	624 (-6%)	5mo	$199,900	$320	82
256 19th Ave	0.13mi	2/1.0	696 (+6%)	10mo	$252,000	$362	77
340 16th Ave	0.28mi	2/1.0	624 (-6%)	10mo	$242,000	$388	70
288 18th Ave	0.17mi	2/1.0	718 (+9%)	10mo	$255,000	$355	70
230 20th Ave	0.16mi	2/1.0	708 (+7%)	15mo	$240,000	$339	68
229 23rd Ave	0.36mi	2/1.0	692 (+5%)	9mo	$233,000	$337	68
263 17th Ave	0.11mi	2/1.0	572 (-13%)	13mo	$319,000	$558	62
217 25th Ave	0.47mi	2/1.0	724 (+10%)	10mo	$199,000	$275	54
336 20th Ave	0.30mi	2/1.0	738 (+12%)	16mo	$260,000	$352	53
264 27th Ave	0.59mi	2/1.0	720 (+9%)	13mo	$261,000	$363	46
249 27th Ave	0.60mi	2/1.0	744 (+13%)	9mo	$267,000	$359	43
262 27th Ave	0.59mi	2/1.0	744 (+13%)	15mo	$265,000	$356	39

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 · 2.59% rent growth · sell at horizon

5-year hold

• IRR: -10.2%
• Equity multiple: 0.63×
• Total profit: $-13,945
• Equity at exit: $20,129

10-year hold

• IRR: -1.3%
• Equity multiple: 0.91×
• Total profit: $-3,428
• Equity at exit: $11,672

Cash invested: $37,800 (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 98632

• Rents YoY: 2.6%
• Active inventory: 356
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,307 medium
• Mortgage (P&I): −$708
• Tax from tax record: −$135 /mo · $1,621/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$274
• Net cashflow: $133

Break-even live

Break-even rent $1,138

Max offer price $135,000

Occupancy floor 85%

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
944 33rd Ave Longview, WA	2.0	1.0	754	$1,275	$1.69	24d	2	1.34mi

Listing history 20 events

1. 2026-06-19
   days on market $135,000 Active 94 DOM
2. 2026-06-18
   days on market $135,000 Active 93 DOM
3. 2026-06-17
   days on market $135,000 Active 92 DOM
4. 2026-06-16
   days on market $135,000 Active 91 DOM
5. 2026-06-15
   days on market $135,000 Active 90 DOM
6. 2026-06-14
   days on market $135,000 Active 88 DOM
7. 2026-06-13
   days on market $135,000 Active 87 DOM
8. 2026-06-10
   days on market $135,000 Active 85 DOM
9. 2026-06-09
   days on market $135,000 Active 84 DOM
10. 2026-06-08
    days on market $135,000 Active 83 DOM
11. 2026-06-07
    days on market $135,000 Active 82 DOM
12. 2026-06-05
    days on market $135,000 Active 79 DOM
13. 2026-06-02
    days on market $135,000 Active 77 DOM
14. 2026-06-01
    days on market $135,000 Active 76 DOM
15. 2026-05-31
    days on market $135,000 Active 75 DOM
16. 2026-05-30
    days on market $135,000 Active 74 DOM
17. 2026-05-19
    price $135,000
18. 2026-05-12
    price $150,000
19. 2026-03-17
    listed $155,000 Active
20. 1996-03-18
    soldstatus $8,000

ⓘ 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: $1,621 · $135/mo
• Projected year-2 tax: $1,621 · $135/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥89°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 7/10 Severe 8 unhealthy d/yr today · 9 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,680
• − Mortgage interest: −$7,562
• − Property taxes: −$1,621
• − Insurance: −$675
• − Repairs & maintenance: −$1,254
• − Management: −$1,254
• − Depreciation: −$3,927
• Taxable loss: −$614
• Est. tax savings @ 24.0%: +$147
• After-tax cash flow: $1,743/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: Longview School District
• NCES district ID: 5304470
• Math proficiency: 40% ▲ 1.00%
• Reading proficiency: 51% ▲ 3.00%
• Median HH income: $41,324
• Composite: 40.41/100
• National rank: #7732
• State rank: #185 of 291 in WA

Livability — Longview

• Score: 71/100
• State rank: #228
• US rank: #6972

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Longview, WA
• County: Cowlitz County · 77,527 people
• City population: 50,635
• Metro: Longview, WA
• Population (ZIP): 50,635
• Household income: $66,305
• Rent vs Own: 39.2% rent · 60.8% own
• Severe rent burden: 2224.0

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 (78%)
• Race & ethnicity: White 78% Hispanic / Latino 12% Two or more races 11% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 10%
• Common ancestry: Portuguese 5% Lithuanian 3% Italian 3%
• Foreign-born: 4% · Canada, Vietnam
• Languages at home: 91% English-only · Spanish 7% Other Asian/Pacific 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: ▼ -479.09%
• Current HPI: 230.8501
• Rent YoY: ▲ 2.59%
• 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

+1587.5% since first listed

4 events — show timeline

• 2026-05-19 Price Changed $135,000 NWMLS as Distributed by MLS Grid
• 2026-05-12 Price Changed $150,000 NWMLS as Distributed by MLS Grid
• 2026-03-17 Listed $155,000 NWMLS as Distributed by MLS Grid
• 1996-03-18 Sold (Public Records) $8,000 Public Records

Property tax history

+25.8%/yr

Latest (2026): $1,621 · +3.2% YoY. Source: county tax records.