1111 Archwood Dr SW #334 · Olympia, WA 98502

$43,000

2 bd · 1.0 ba · 728 sqft · Manufactured public records · 21 Days on market

Built 2020

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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 +15.0/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +6.2/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +4.2/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0

Listing remarks

Enjoy comfortable living in this beautifully maintained home located in a desirable 55+ community. The bright, open floor plan features custom maple cabinets, stylish countertops, a built-in microwave, modern black appliances, and durable vinyl wood-look flooring. Large windows fill the home with natural light, while the split-bedroom design offers added privacy. The spacious bath includes a walk-in shower with glass doors. Stay comfortable year-round with a heat pump and air conditioning. Outside, mature trees provide a peaceful setting, and the 8x8 storage shed offers extra storage. Community amenities include a clubhouse, sauna, hot tub, exercise room, and more. Conveniently located near

Key facts

• Air conditioning
• Heat pump
• Walk-in shower

Tags

• CUSTOM MAPLE CABINETS
• BUILT-IN MICROWAVE
• WALK-IN SHOWER
• HEAT PUMP
• AIR CONDITIONING
• MATURE TREES

Property features AI

Finance

• Other: Property listed as residential - manufactured home; Calculated living area: 728; Bus line nearby
• Financial info: Cash sale terms
• HOA & community: Located in Friendly Ridge manufactured home park; Senior community; Park amenities include clubhouse, exercise room, recreational area, sauna, spa/hot tub, BBQs, common areas, and sidewalks; Land lease (monthly): $1,365

Exterior

• Parking: Uncovered parking
• Utilities: Electric energy source; Public water (City of Olympia); Public sewer (City of Olympia); Power provided by PSE
• Home design: Manufactured single-wide home; One level; Mobile home remains on property; Manufactured after 6/15/1976; Good condition
• Construction: Wood construction; Composition roof; Tie down foundation; Make: CHM, Model: ORE551228
• Exterior features: Wood products exterior; Patio/porch/deck; Paved lot

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator; Stove/Range
• Bedrooms: 2 bedrooms
• Flooring: Vinyl plank; Carpet
• Bathrooms: 1 full bathroom (1 bathtub)
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Water heater; Entry, Living Room, Kitchen without eating space, Utility Room
• Laundry & utility: Washer; Dryer; Water heater located in laundry area

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $43k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $43k).
• Recommended offer: $42k (1.5% below list) — sets the bar for market timing.
• Cap rate 39.2% vs local median 2.4% in Olympia — 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 83/100 on livability (#58 in WA, #1,036 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, health & safety A+; Watch: crime F, cost of living D-.
• Olympia School District (urban): math 66% / reading 75% proficiency, ranked #17 of 291 in WA (top 6%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: Rents rising (+3.2%/yr); 304 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,222 units permitted in Thurston County in 2024 (508 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($297 loan paydown + $4k appreciation (10.0% local appreciation)).
• Thurston County population projected at +27% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 3.2% rent growth), your $12k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($42k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 15y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Recommended offer $42,355 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
3. 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?
4. 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.
5. 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.
6. 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: 4.33% ✓
• Cap rate: 39.22%
• Cash-on-cash: 117.61%
• DSCR: 6.23
• GRM: 1.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.16% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 9.21×
• Total profit: $98,902
• Equity at exit: $38,738

10-year hold

• IRR: —
• Equity multiple: 20.34×
• Total profit: $232,808
• Equity at exit: $83,540

Cash invested: $12,040 (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 98502

• Home prices YoY: 1.8%
• Rents YoY: 3.2%
• Active inventory: 304
• Price-to-rent: 1.9×

Monthly cashflow live

• Estimated rent: $1,862 high
• Mortgage (P&I): −$225
• Tax from tax record: −$48 /mo · $573/yr
• Insurance: −$18
• HOA: −$0
• Vacancy / Maint / Mgmt: −$391
• Net cashflow: $1,180

Break-even live

Break-even rent $369

Max offer price $43,000

Occupancy floor 32%

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: $10,750
• Closing costs: $1,290
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3311 6th Ave SW Olympia, WA	1.0–3.0	1.0–2.0	888	$2,082	$2.35	14d	16	0.23mi
1309 Fern St SW Olympia, WA	1.0–3.0	1.0–2.0	802	$1,906	$2.37	14d	2	0.54mi
1000 Fern St SW Olympia, WA	1.0–2.0	1.0–2.0	892	$2,281	$2.56	14d	8	0.65mi
1900 Black Lake Blvd SW Olympia, WA	1.0–3.0	1.0–2.0	925	$1,823	$1.97	14d	13	0.68mi
2800 Limited Ln NW Olympia, WA	1.0–2.0	1.0–2.0	775	$1,503	$1.94	14d	4	0.69mi
300 Kenyon St NW Olympia, WA	1.0–2.0	1.0–2.0	878	$1,995	$2.27	14d	6	0.75mi
3633 7th Ave SW Unit 14 Olympia, WA	2.0	1.0	500	$850	$1.70	14d	1	0.91mi
1818 Evergreen Park Dr SW Olympia, WA	1.0	1.0	437	$1,500	$3.43	14d	4	1.29mi
1919 Evergreen Park Dr SW Olympia, WA	1.0	1.0	695	$1,450	$2.09	21d	1	1.32mi
2008 Evergreen Park Dr SW Olympia, WA	1.0–2.0	1.0	750	$1,799	$2.40	44d	3	1.40mi
2121 Evergreen Park Dr SW Olympia, WA	1.0	1.0	450	$1,395	$3.10	14d	1	1.42mi

Listing history 34 events

1. 2026-06-18
   days on market $43,000 Active 21 DOM
2. 2026-06-17
   days on market $43,000 Active 20 DOM
3. 2026-06-16
   days on market $43,000 Active 19 DOM
4. 2026-06-15
   days on market $43,000 Active 18 DOM
5. 2026-06-14
   days on market $43,000 Active 16 DOM
6. 2026-06-13
   days on market $43,000 Active 15 DOM
7. 2026-06-10
   days on market $43,000 Active 13 DOM
8. 2026-06-09
   days on market $43,000 Active 12 DOM
9. 2026-06-08
   days on market $43,000 Active 11 DOM
10. 2026-06-07
    days on market $43,000 Active 10 DOM
11. 2026-06-05
    days on market $43,000 Active 7 DOM
12. 2026-06-02
    days on market $43,000 Active 5 DOM
13. 2026-06-01
    days on market $43,000 Active 4 DOM
14. 2026-05-31
    days on market $43,000 Active 3 DOM
15. 2026-05-30
    days on market $43,000 Active 2 DOM
16. 2026-05-28
    listed $43,000 Active
17. 2025-09-05
    soldstatus $43,000 Closed
18. 2025-08-28
    status Pending
19. 2025-08-27
    price $46,955
20. 2025-08-18
    status Active
21. 2025-07-14
    price $49,955
22. 2025-06-08
    price $53,000
23. 2025-04-24
    price $57,000
24. 2025-04-09
    price $59,999
25. 2025-03-27
    price $62,999
26. 2025-03-18
    price $64,888
27. 2025-03-12
    price $69,999
28. 2025-02-25
    price $74,999
29. 2025-02-11
    price $79,999
30. 2025-01-31
    price $82,499
31. 2025-01-24
    listed $85,000 Active
32. 2011-09-14
    soldstatus $4,000 Sold
33. 2011-08-29
    status Pending Inspection
34. 2011-08-17
    listed $4,500 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: $573 · $48/mo
• Projected year-2 tax: $573 · $48/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Taxation est. · year 1

• Rental income: $22,348
• − Mortgage interest: −$2,409
• − Property taxes: −$573
• − Insurance: −$215
• − Repairs & maintenance: −$1,788
• − Management: −$1,788
• − Depreciation: −$1,251
• Taxable income: $14,324
• Est. tax owed @ 24.0%: −$3,438
• After-tax cash flow: $10,723/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: Olympia School District
• NCES district ID: 5306180
• Math proficiency: 66% ▼ -2.00%
• Reading proficiency: 75% ▼ -2.00%
• Median HH income: $63,852
• Composite: 62.27/100
• National rank: #1438
• State rank: #17 of 291 in WA

Livability — Olympia

• Score: 83/100
• State rank: #58
• US rank: #1036

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Olympia, WA
• County: Thurston County · 269,345 people
• City population: 98,428
• Metro: Olympia-Lacey-Tumwater, WA
• Population (ZIP): 35,398
• Household income: $92,207
• Rent vs Own: 42.6% rent · 57.4% own
• Severe rent burden: 1811.0

Population outlook (Thurston County) Hauer SSP2

• Today (2025): 308,239 people
• By 2030: 326,483 · +5.9%
• By 2040: 359,890 · +16.8%
• By 2050: 391,800 · +27.1%
• By 2075: 468,024 · +51.8%
• By 2100: 519,890 · +68.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (71%)
• Race & ethnicity: White 71% Two or more races 13% Hispanic / Latino 11% Asian 6% Black 3% Native American 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 4%
• Common ancestry: Italian 5% Portuguese 4% Iranian 3%
• Foreign-born: 8% · Vietnam, Canada, China
• Languages at home: 90% English-only · Spanish 3% Vietnamese 2% Other Asian/Pacific 1%

Political lean MEDSL · Thurston

• 2024 margin: Strong D (+20.4) · D 58.5% · R 38.1% · Other 3.5%
• 2008→2024 swing: -1.3pp toward R · 2008: 21.7pp · 2024: 20.4pp
• All cycles: 2024: D+20.4 2020: D+18.6 2016: D+15.4 2012: D+19.0 2008: D+21.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 18.49%
• Current HPI: 1056.49
• Rent YoY: ▲ 3.16%
• Metro: Olympia-Lacey-Tumwater, 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

+855.6% since first listed

19 events — show timeline

• 2026-05-28 Listed $43,000 NWMLS as Distributed by MLS Grid
• 2025-09-05 Sold (MLS) $43,000 NWMLS as Distributed by MLS Grid
• 2025-08-28 Pending — NWMLS as Distributed by MLS Grid
• 2025-08-27 Price Changed $46,955 NWMLS as Distributed by MLS Grid
• 2025-08-18 Relisted — NWMLS as Distributed by MLS Grid
• 2025-07-14 Price Changed $49,955 NWMLS as Distributed by MLS Grid
• 2025-06-08 Price Changed $53,000 NWMLS as Distributed by MLS Grid
• 2025-04-24 Price Changed $57,000 NWMLS as Distributed by MLS Grid
• 2025-04-09 Price Changed $59,999 NWMLS as Distributed by MLS Grid
• 2025-03-27 Price Changed $62,999 NWMLS as Distributed by MLS Grid
• 2025-03-18 Price Changed $64,888 NWMLS as Distributed by MLS Grid
• 2025-03-12 Price Changed $69,999 NWMLS as Distributed by MLS Grid
• 2025-02-25 Price Changed $74,999 NWMLS as Distributed by MLS Grid
• 2025-02-11 Price Changed $79,999 NWMLS as Distributed by MLS Grid
• 2025-01-31 Price Changed $82,499 NWMLS as Distributed by MLS Grid
• 2025-01-24 Listed $85,000 NWMLS as Distributed by MLS Grid
• 2011-09-14 Sold (MLS) $4,000 NWMLS as Distributed by MLS Grid
• 2011-08-29 Pending — NWMLS as Distributed by MLS Grid
• 2011-08-17 Listed $4,500 NWMLS as Distributed by MLS Grid

Property tax history

+0.1%/yr

Latest (2026): $573 · -26.2% YoY. Source: county tax records.