372 Sudden Valley Dr · Sudden Valley, WA 98226

$400,000

2 bd · 2.0 ba · 1,944 sqft · SingleFamily public records · 40 Days on market

Built 1993 5,375 sqft lot Est $632k · 37% under $168/mo HOA · 8% of rent

---

Why this score? — see what drove the F 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).

• ARV discount +15.0/15.0
• Schools +4.8/10.0
• Cash flow +3.4/30.0
• Livability +3.4/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• 1% rule +0.1/10.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Genuine opportunity to customize a rare 5 bedroom home in the coveted Sudden Valley community of Bellingham! Flush with amenities, your life here has access to Lake Whatcom, parks, community events, a library, tennis courts, pool, and road maintenance (to name a few). Pre-inspected for your convenience, we've confirmed that aside from the obvious repairs needed, this is almost entirely just a cosmetic fixer. Main ticket items: roof, decks, and some siding along with some pinpointed associated damage. Beyond that, you get a relatively clean slate to build out how you like with your favorite finishes, paint, etc. 5 bedrooms span 3 different floors and it has tons of garage and mini-shop stora

Key facts

• Tennis courts
• 5,375 sq ft lot
• Garage

Tags

• ACCESS TO LAKE WHATCOM
• TENNIS COURTS

Property features AI

Finance

• Other: Directions: Use GPS but confirm property as GPS may point to neighboring house
• Financial info: Listing terms: Cash or Conventional
• HOA & community: Homeowners association with monthly fee of $168; Association covers common area maintenance, road maintenance, security, and snow removal; Community features: Clubhouse, golf, park, playground, trails, CCRs

Exterior

• Parking: Attached garage; Covered parking for 2; RV parking
• Security: Security service; Community security included in association
• Utilities: Electric and propane energy sources; Community water (Lake Whatcom Water & Sewer); Sewer connected (Lake Whatcom Water & Sewer); Power by PSE
• Home design: Single family residence; Tri-level style; Entry on lower level; Three or more levels; Residential property
• Construction: Built on lot; Wood construction; Composition roof; Poured concrete foundation; Effective year built 1993
• Exterior features: Wood products exterior; Deck; Cable TV available; RV parking; Boat launch access (community); Trails

Interior

• Kitchen: Dishwasher; Garbage disposal; Refrigerator; Stove/Range
• Bedrooms: 5 bedrooms (2 upper, 2 main, 1 lower)
• Bathrooms: 2 full bathrooms; 1 half bathroom; 2 bathtubs; 2 showers
• Heating & cooling: Forced air heating; Forced air cooling; Has heating and cooling
• Interior features: Dining room; Fireplace; Walk-in closet(s)
• Laundry & utility: Utility room (lower level)

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $400k.

Deal economics

• At list price, monthly cash flow is $-1k ($-15k/yr) — negative.
• To cash-flow at today's rent, offer at most $182k (54.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $204k (49.1% below list).
• Recommended offer: $182k (54.5% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 68/100 on livability (#285 in WA) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+; Watch: health & safety D, amenities F, cost of living F.
• Bellingham School District (urban): math 47% / reading 63% proficiency, ranked #106 of 291 in WA (top 36%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Geneva Elementary School (432 students, 28% FRL); Bellingham High School (1,218 students, 34% FRL) — zoned schools at 31% FRL track the district average.
• Market conditions: Rents flat; 378 active listings in the ZIP; solid renter incomes; 1,190 units permitted in Whatcom County in 2024 (327 in 5+ unit buildings).
• This rent runs 31% of the median local income ($79k/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 $3k of loan paydown is wiped out by about $12k of value loss. Plan a longer hold.
• Whatcom County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 40 days — a 3% lower offer ($388k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 26y 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.
• Current owner paid $152k; list at $400k implies a 163% gain — meaningful room to come down on a strong offer.

Recommended offer $181,907 (54.5% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 40 days. Have you received any prior offers? Is the seller open to a 55% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.51% ✗
• Cap rate: 2.59%
• Cash-on-cash: -13.23%
• DSCR: 0.41
• GRM: 16.4

CMA / ARV

• ARV (on-the-fly): $631,800
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3 Spring Rd	0.40mi	3/2.5 (+1)	1,938 (-0%)	8mo	$610,000	$315	67
323 Sudden Valley Dr	0.33mi	3/3.0 (+1)	1,958 (+1%)	9mo	$512,000	$261	67
18 Inglewood Pl	0.38mi	2/2.0	1,736 (-11%)	2mo	$565,000	$325	62
54 A Honeycomb	0.35mi	3/2.5 (+1)	1,749 (-10%)	4mo	$718,000	$411	57
311 Sudden Valley Dr	0.38mi	3/2.5 (+1)	1,712 (-12%)	4mo	$699,000	$408	52
1 Valley Crest Way	0.36mi	3/2.5 (+1)	1,716 (-12%)	5mo	$490,000	$286	52
52 Morning Glory Dr	0.65mi	3/2.0 (+1)	2,086 (+7%)	1mo	$589,000	$282	52
325 Sudden Valley Dr	0.31mi	3/2.5 (+1)	2,178 (+12%)	8mo	$810,000	$372	51
6 Sugarpine Pl	0.33mi	3/2.0 (+1)	1,664 (-14%)	8mo	$380,000	$228	49
32 Fairway Ln	0.67mi	3/2.5 (+1)	2,138 (+10%)	8mo	$740,000	$346	38
11 Fairway Ln	0.71mi	3/2.5 (+1)	2,158 (+11%)	7mo	$659,000	$305	35
10 Birdie Ln	0.61mi	3/3.0 (+1)	2,217 (+14%)	8mo	$770,000	$347	32

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 · 0.42% rent growth · sell at horizon

5-year hold

• IRR: -43.9%
• Equity multiple: -0.33×
• Total profit: $-148,523
• Equity at exit: $59,641

10-year hold

• IRR: -96.5%
• Equity multiple: -1.24×
• Total profit: $-250,342
• Equity at exit: $34,585

Cash invested: $112,000 (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 98226

• Rents YoY: 0.4%
• Active inventory: 378
• Price-to-rent: 16.4×

Monthly cashflow live

• Estimated rent: $2,037 medium
• Mortgage (P&I): −$2,098
• Tax from tax record: −$411 /mo · $4,934/yr
• Insurance: −$167
• HOA: −$168
• Vacancy / Maint / Mgmt: −$428
• Net cashflow: $-1,235

Break-even live

Break-even rent $3,599

Max offer price $181,907

Occupancy floor —

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: $100,000
• Closing costs: $12,000
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $168 · $2,016/yr
• Likely covers: pool

Listing history 7 events

1. 2026-05-17
   status Pending
2. 2026-04-24
   status Active
3. 2026-04-18
   status Pending
4. 2026-03-31
   listed $400,000 Active
5. 2001-06-27
   soldstatus $152,000
6. 2001-06-27
   soldstatus $152,000
7. 2000-09-17
   listed $160,000

ⓘ 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: $4,934 · $411/mo
• Projected year-2 tax: $4,934 · $411/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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 1/10 Low 8 d/yr ≥84°F today · 18 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 7/10 Severe 11 unhealthy d/yr today · 11 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,439
• − Mortgage interest: −$22,406
• − Property taxes: −$4,934
• − Insurance: −$2,000
• − Repairs & maintenance: −$1,955
• − Management: −$1,955
• − HOA: −$2,016
• − Depreciation: −$11,636
• Taxable loss: −$22,464
• Est. tax savings @ 24.0%: +$5,391
• After-tax cash flow: $-9,424/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: Bellingham School District
• NCES district ID: 5300420
• Math proficiency: 47% ▼ -6.00%
• Reading proficiency: 63% ▼ -1.00%
• Median HH income: $47,678
• Composite: 48.49/100
• National rank: #4632
• State rank: #106 of 291 in WA

Livability — Sudden Valley

• Score: 68/100
• State rank: #285
• US rank: #9937

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sudden Valley, WA
• County: Whatcom County · 209,776 people
• Metro: Bellingham, WA
• Population (ZIP): 46,782
• Household income: $79,375
• Rent vs Own: 37.6% rent · 62.4% own
• Severe rent burden: 2061.0

Population outlook (Whatcom County) Hauer SSP2

• Today (2025): 240,408 people
• By 2030: 254,667 · +5.9%
• By 2040: 281,365 · +17.0%
• By 2050: 307,592 · +27.9%
• By 2075: 375,576 · +56.2%
• By 2100: 421,637 · +75.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (72%)
• Race & ethnicity: White 72% Two or more races 10% Hispanic / Latino 9% Asian 6% Native American 5% Black 1%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Portuguese 6% Iranian 4% Slovak 4%
• Foreign-born: 11% · Canada, China, Vietnam
• Languages at home: 88% English-only · Spanish 5% Chinese 2% Other Indo-European 1%

Political lean MEDSL · Whatcom

• 2024 margin: Strong D (+24.9) · D 60.8% · R 35.9% · Other 3.3%
• 2008→2024 swing: +6.9pp toward D · 2008: 18.0pp · 2024: 24.9pp
• All cycles: 2024: D+24.9 2020: D+23.9 2016: D+17.7 2012: D+12.1 2008: D+18.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -573.37%
• Current HPI: 406.1085
• Rent YoY: ▲ 0.42%
• Metro: Bellingham, 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

+150.0% since first listed

7 events — show timeline

• 2026-05-17 Pending — NWMLS as Distributed by MLS Grid
• 2026-04-24 Relisted — NWMLS as Distributed by MLS Grid
• 2026-04-18 Pending — NWMLS as Distributed by MLS Grid
• 2026-03-31 Listed $400,000 NWMLS as Distributed by MLS Grid
• 2001-06-27 Sold (Public Records) $152,000 Public Records
• 2001-06-27 Sold (MLS) $152,000 NWMLS as Distributed by MLS Grid
• 2000-09-17 Listed $160,000 NWMLS as Distributed by MLS Grid

Property tax history

+5.9%/yr

Latest (2026): $4,934 · +8.6% YoY. Source: county tax records.