42 Juniper Mobile Ests

Sequim, WA 98382

$117,000B+

3 bd · 2.0 ba · 1,440 sqft · Built 1978 · Manufactured · Active · 228 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,492/mo
• Mortgage (P&I): −$614
• Tax + insurance: −$124
• HOA: −$0
• Vac / Maint / Mgmt: −$523
• Net cashflow: $1,231/mo
• Annual: $14,772/yr
• Cap rate: 18.92%
• Cash-on-cash: 45.09%
• DSCR: 3.01
• 1% rule: 2.13%
• Cash to close: $32,760

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $117k.
• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $117k).
• It's been on market 228 days — a 12% lower offer ($103k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $103k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $809 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 70/100 on livability (#245 in WA) — a middle-class / working-renter tenant base. Strengths: health & safety A+, crime B, cost of living B; Watch: employment D, amenities D-, commute F.
• Sequim School District (town): math 55% / reading 66% proficiency, ranked #64 of 291 in WA (top 22%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 605 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 166 units permitted in Clallam County in 2024 (0 in 5+ unit buildings).
• Clallam County population projected at +5% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 2 sale attempts 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $33k cash investment doubles in ~3 years — after that, you're playing with house money.
• Cap rate 18.9% vs local median 3.1% in Sequim — 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.
• This rent runs 40% of the median local income ($74k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 228 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1978 — 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.
• Schools are B-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?
• 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.