5600 MT Solo Rd

Longview, WA 98632

$76,500B+

3 bd · 1.5 ba · 924 sqft · Built 1979 · Manufactured · Active · 273 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,644/mo
• Mortgage (P&I): −$401
• Tax + insurance: −$128
• HOA: −$0
• Vac / Maint / Mgmt: −$345
• Net cashflow: $770/mo
• Annual: $9,245/yr
• Cap rate: 18.38%
• Cash-on-cash: 43.16%
• DSCR: 2.92
• 1% rule: 2.15%
• Cash to close: $21,420

Investor read

• This is a 3-bed/1.5-bath manufactured listed at $76k.
• At list price, monthly cash flow is $770 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $76k).
• It's been on market 273 days — a 12% lower offer ($67k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $67k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $529 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• 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); 357 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 348 units permitted in Cowlitz County in 2024 (40 in 5+ unit buildings).
• Cowlitz County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 7 sale attempts since 18y ago; this cycle's ask has dropped $6k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $30k; list at $76k implies a 155% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 2.6% rent growth), your $21k cash investment doubles in ~3 years — after that, you're playing with house money.
• Cap rate 18.4% 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.

Questions for listing agent

• It's been on market 273 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.
• 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.
• 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.