57 Heritage Blvd · Longview, WA 98632

$159,900

3 bd · 2.0 ba · 1,404 sqft · Manufactured public records · 35 Days on market

Built 1997 6,194 sqft lot $114/sqft · 11% above area Est $144k · 11% 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 +22.2/30.0
• DSCR +7.1/10.0
• 1% rule +5.8/10.0
• Schools +4.0/10.0
• Livability +3.6/5.0
• Rent growth +3.1/5.0
• ARV discount +2.6/15.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Located in the highly desirable Heron Pointe Park (all ages welcome!), this beautifully maintained single-level home features an inviting open floor plan with a bright eat-in kitchen with island and walk in pantry, a spacious primary suite with walk-in closet and spacious bathroom, plus two additional bedrooms and a full guest bath. All appliances stay. Enjoy easy care, low maintenance landscaping, and two storage shed/workshops. Fantastic park amenities including a clubhouse, two playgrounds, and RV storage. Don’t miss this one!

Key facts

• Open floor plan
• Walk-in closet
• Primary suite

Tags

• OPEN FLOOR PLAN
• EAT-IN KITCHEN
• WALK IN PANTRY
• PRIMARY SUITE
• WALK-IN CLOSET
• LOW MAINTENANCE LANDSCAPING

Property features AI

Finance

• Other: Calculated living area: 1,404; Energy: Double pane windows (energy efficient)
• Financial info: Listing terms: Cash or Conventional
• HOA & community: Heron Pointe Park with clubhouse, common area, playground, RV parking; Park contains 288 homes; Senior exemption applies; Pets allowed — see remarks; Land lease: $637

Exterior

• Parking: Carport
• Utilities: Electric service; Public water (City of Longview); Public sewer (City of Longview); Power by Cowlitz PUD
• Home design: Manufactured double-wide home; One level; Very good condition; MARLETTE model 52/28
• Construction: Wood construction; Composition roof; Manufactured after 06/15/1976
• Exterior features: Wood exterior products; Curbs; Paved access; Patio/porch/deck; Awnings

Interior

• Kitchen: Dishwasher; Stove/Range; Refrigerator
• Bedrooms: 3 bedrooms
• Flooring: Vinyl; Carpet
• Bathrooms: 1 full bath; 1 three-quarter bath
• Heating & cooling: Forced air heat; Central air conditioning
• Interior features: Vaulted ceilings; Walk-in closet; Walk-in pantry; Bath off primary; Patio/porch/deck; Awnings; Double pane windows
• Laundry & utility: Washer; Dryer; Utility room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $160k.

Deal economics

• At list price, monthly cash flow is $260 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $160k).
• Recommended offer: $155k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.2% 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.
• Zoned schools: R A Long High School (922 students, 71% FRL) — zoned schools average 71% FRL vs 54% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+2.6%/yr); 357 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 weeks tenant-placement turnaround); 348 units permitted in Cowlitz County in 2024 (40 in 5+ unit buildings).
• This rent runs 31% of the median local income ($66k/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 $1k of loan paydown is wiped out by about $5k 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 35 days — a 3% lower offer ($155k) is reasonable based on typical stale-listing flexibility.

Recommended offer $155,103 (3.0% below list)

Questions for the listing agent

1. It's been on market 35 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 1.08% ✓
• Cap rate: 8.24%
• Cash-on-cash: 6.97%
• DSCR: 1.31
• GRM: 7.7

CMA / ARV

• ARV (median comp): $144,250
• List price: $159,900
• Delta: 10.85%
• Verdict: OVERPRICED
• Comps: 15 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
52 Heritage Blvd	0.04mi	3/2.0	1,404 (0%)	14mo	$134,900	$96	87
60 Heritage Blvd	0.03mi	3/2.0	1,512 (+8%)	3mo	$144,250	$95	83
505 Mallard Ln	0.07mi	3/2.0	1,512 (+8%)	1mo	$154,000	$102	83
608 Egret Ln	0.09mi	3/2.0	1,296 (-8%)	2mo	$150,000	$116	82
125 Arlington Pl	0.10mi	3/2.0	1,458 (+4%)	14mo	$132,000	$91	77
703 Pintail Ln	0.10mi	3/2.0	1,512 (+8%)	7mo	$145,000	$96	77
78 Blue Heron Dr	0.12mi	3/2.0	1,296 (-8%)	9mo	$162,000	$125	74
96 Blue Heron Dr	0.18mi	3/2.0	1,566 (+12%)	3mo	$164,900	$105	70
47 Heritage Blvd	0.05mi	3/2.0	1,296 (-8%)	19mo	$169,900	$131	69
83 Blue Heron Dr	0.15mi	3/2.0	1,296 (-8%)	16mo	$165,000	$127	67
38 Heritage Blvd	0.09mi	3/2.0	1,296 (-8%)	21mo	$125,000	$96	65
5600 Mt. Solo #162	0.57mi	3/2.0	1,536 (+9%)	5mo	$59,000	$38	54

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: -6.1%
• Equity multiple: 0.78×
• Total profit: $-10,043
• Equity at exit: $23,842

10-year hold

• IRR: 3.1%
• Equity multiple: 1.22×
• Total profit: $9,785
• Equity at exit: $13,825

Cash invested: $44,772 (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: 357
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,728 medium
• Mortgage (P&I): −$839
• Tax est. 1.5%: −$200 /mo · $2,398/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$363
• Net cashflow: $260

Break-even live

Break-even rent $1,399

Max offer price $159,900

Occupancy floor 80%

Sensitivity live

Price	-10% $370	-5% $315	+0% $260	+5% $205	+10% $149
Rent	-10% $123	-5% $192	+0% $260	+5% $328	+10% $396
Rate	-1.0pp $340	-0.5pp $301	base $260	+0.5pp $218	+1.0pp $176

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: $39,975
• Closing costs: $4,797
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5607 Finch Dr Longview, WA	2.0	1.0	925	$1,500	$1.62	0d	1	0.48mi
115 Charles St Longview, WA	3.0	2.0	1704	$2,200	$1.29	17d	1	1.07mi
4714 Ocean Beach Hwy Longview, WA	2.0	1.0	880	$1,450	$1.65	4d	2	1.15mi

Listing history 17 events

1. 2026-06-19
   days on market $159,900 Active 35 DOM
2. 2026-06-18
   days on market $159,900 Active 34 DOM
3. 2026-06-17
   days on market $159,900 Active 33 DOM
4. 2026-06-16
   days on market $159,900 Active 32 DOM
5. 2026-06-15
   days on market $159,900 Active 31 DOM
6. 2026-06-14
   days on market $159,900 Active 29 DOM
7. 2026-06-13
   days on market $159,900 Active 28 DOM
8. 2026-06-10
   days on market $159,900 Active 26 DOM
9. 2026-06-09
   days on market $159,900 Active 25 DOM
10. 2026-06-08
    days on market $159,900 Active 24 DOM
11. 2026-06-07
    days on market $159,900 Active 23 DOM
12. 2026-06-05
    days on market $159,900 Active 20 DOM
13. 2026-06-02
    days on market $159,900 Active 18 DOM
14. 2026-06-01
    days on market $159,900 Active 17 DOM
15. 2026-05-31
    days on market $159,900 Active 16 DOM
16. 2026-05-30
    days on market $159,900 Active 15 DOM
17. 2026-05-15
    listed $159,900 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 8 d/yr ≥89°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 7/10 Severe 9 unhealthy d/yr today · 9 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,733
• − Mortgage interest: −$8,957
• − Property taxes: −$2,398
• − Insurance: −$800
• − Repairs & maintenance: −$1,659
• − Management: −$1,659
• − Depreciation: −$4,652
• Taxable income: $609
• Est. tax owed @ 24.0%: −$146
• After-tax cash flow: $2,972/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

1 event — show timeline

• 2026-05-15 Listed $159,900 NWMLS as Distributed by MLS Grid

Property tax history

+9.0%/yr

Latest (2026): $69 · +0.8% YoY. Source: county tax records.