1965 Westside Hwy #97 · Lexington, WA 98626

$35,000

1 bd · 1.0 ba · 560 sqft · Manufactured public records · 175 Days on market

Built 1997 4,021 sqft lot $62/sqft · 17% above area Est $30k · 17% over ↓ 34% since listing

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.0/10.0
• Rent growth +3.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming and well-maintained home in a desirable 55+ community. Located at a quiet dead end, this home offers privacy and extensive updates, including a new roof, HardiePlank siding, flooring, and carport. With a monthly space rent of $890, this is a fantastic opportunity for affordable, turn-key living. The open-concept interior features vaulted ceilings, fresh paint, and all appliances stay and include a washer and dryer. Enjoy peaceful green space views from your kitchen and the convenience of a 10' x 12' lofted shed. Experience quiet living in this exceptionally well-maintained park.

Key facts

• New awnings
• New flooring
• New water heater

Tags

• NEW ROOF
• HARDIEPLANK SIDING
• NEW WATER HEATER
• NEW DISHWASHER
• NEW FLOORING
• NEW AWNINGS

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath manufactured listed at $35k.

Deal economics

• At list price, monthly cash flow is $765 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $35k).
• Recommended offer: $31k (12.0% below list) — sets the bar for market timing.
• Cap rate 32.5% vs local median 3.5% in Lexington — 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: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Kelso School District (suburban): math 35% / reading 53% proficiency, ranked #191 of 291 in WA (top 66%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+4.1%/yr); 217 active listings in the ZIP; solid renter incomes; 348 units permitted in Cowlitz County in 2024 (40 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $242 of loan paydown is wiped out by about $1k 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.
• At projected returns (-3.0% appreciation + 4.1% rent growth), your $10k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 175 days — a 12% lower offer ($31k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $18k (34%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $30,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 175 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 3.67% ✓
• Cap rate: 32.52%
• Cash-on-cash: 93.65%
• DSCR: 5.17
• GRM: 2.3

CMA / ARV

• ARV (median comp): $29,852
• List price: $35,000
• Delta: 17.25%
• Verdict: OVERPRICED
• Comps: 2 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1965 West Side Hwy #22	0.15mi	2/1.0 (+1)	624 (+11%)	16mo	$20,000	$32	56

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 · 4.1% rent growth · sell at horizon

5-year hold

• IRR: 95.7%
• Equity multiple: 5.54×
• Total profit: $44,501
• Equity at exit: $5,219

10-year hold

• IRR: 98.7%
• Equity multiple: 11.98×
• Total profit: $107,600
• Equity at exit: $3,026

Cash invested: $9,800 (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 98626

• Rents YoY: 4.1%
• Active inventory: 217
• Price-to-rent: 2.3×

Monthly cashflow live

• Estimated rent: $1,283 medium
• Mortgage (P&I): −$184
• Tax from tax record: −$51 /mo · $612/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$270
• Net cashflow: $765

Break-even live

Break-even rent $315

Max offer price $35,000

Occupancy floor 35%

Sensitivity live

Price	-10% $785	-5% $775	+0% $765	+5% $755	+10% $745
Rent	-10% $663	-5% $714	+0% $765	+5% $816	+10% $866
Rate	-1.0pp $782	-0.5pp $774	base $765	+0.5pp $756	+1.0pp $747

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: $8,750
• Closing costs: $1,050
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-19
   days on market $35,000 Active 175 DOM
2. 2026-06-18
   days on market $35,000 Active 174 DOM
3. 2026-06-17
   days on market $35,000 Active 173 DOM
4. 2026-06-16
   days on market $35,000 Active 172 DOM
5. 2026-06-15
   days on market $35,000 Active 171 DOM
6. 2026-06-14
   days on market $35,000 Active 169 DOM
7. 2026-06-13
   days on market $35,000 Active 168 DOM
8. 2026-06-10
   days on market $35,000 Active 166 DOM
9. 2026-06-09
   days on market $35,000 Active 165 DOM
10. 2026-06-08
    days on market $35,000 Active 164 DOM
11. 2026-06-07
    days on market $35,000 Active 163 DOM
12. 2026-06-03
    days on market $35,000 Active 159 DOM
13. 2026-06-02
    days on market $35,000 Active 158 DOM
14. 2026-06-01
    days on market $35,000 Active 157 DOM
15. 2026-05-31
    days on market $35,000 Active 156 DOM
16. 2026-05-30
    days on market $35,000 Active 155 DOM
17. 2026-03-05
    price $35,000

    Show marketing remark (594 chars)

    Charming and well-maintained home in a desirable 55+ community. Located at a quiet dead end, this home offers privacy and extensive updates, including a new roof, HardiePlank siding, flooring, and carport. With a monthly space rent of $890, this is a fantastic opportunity for affordable, turn-key living. The open-concept interior features vaulted ceilings, fresh paint, and all appliances stay and include a washer and dryer. Enjoy peaceful green space views from your kitchen and the convenience of a 10' x 12' lofted shed. Experience quiet living in this exceptionally well-maintained park.

18. 2026-03-05
    price $35,000 594-char remark

    Show marketing remark (594 chars)

    Charming and well-maintained home in a desirable 55+ community. Located at a quiet dead end, this home offers privacy and extensive updates, including a new roof, HardiePlank siding, flooring, and carport. With a monthly space rent of $890, this is a fantastic opportunity for affordable, turn-key living. The open-concept interior features vaulted ceilings, fresh paint, and all appliances stay and include a washer and dryer. Enjoy peaceful green space views from your kitchen and the convenience of a 10' x 12' lofted shed. Experience quiet living in this exceptionally well-maintained park.

19. 2026-02-24
    price $45,000 594-char remark

    Show marketing remark (594 chars)

    Charming and well-maintained home in a desirable 55+ community. Located at a quiet dead end, this home offers privacy and extensive updates, including a new roof, HardiePlank siding, flooring, and carport. With a monthly space rent of $890, this is a fantastic opportunity for affordable, turn-key living. The open-concept interior features vaulted ceilings, fresh paint, and all appliances stay and include a washer and dryer. Enjoy peaceful green space views from your kitchen and the convenience of a 10' x 12' lofted shed. Experience quiet living in this exceptionally well-maintained park.

20. 2026-02-24
    price $45,000

    Show marketing remark (594 chars)

    Charming and well-maintained home in a desirable 55+ community. Located at a quiet dead end, this home offers privacy and extensive updates, including a new roof, HardiePlank siding, flooring, and carport. With a monthly space rent of $890, this is a fantastic opportunity for affordable, turn-key living. The open-concept interior features vaulted ceilings, fresh paint, and all appliances stay and include a washer and dryer. Enjoy peaceful green space views from your kitchen and the convenience of a 10' x 12' lofted shed. Experience quiet living in this exceptionally well-maintained park.

21. 2025-12-26
    listed $52,700 Active

    Show marketing remark (594 chars)

    Charming and well-maintained home in a desirable 55+ community. Located at a quiet dead end, this home offers privacy and extensive updates, including a new roof, HardiePlank siding, flooring, and carport. With a monthly space rent of $890, this is a fantastic opportunity for affordable, turn-key living. The open-concept interior features vaulted ceilings, fresh paint, and all appliances stay and include a washer and dryer. Enjoy peaceful green space views from your kitchen and the convenience of a 10' x 12' lofted shed. Experience quiet living in this exceptionally well-maintained park.

22. 2025-12-26
    listed $52,700 Active 594-char remark

    Show marketing remark (594 chars)

    Charming and well-maintained home in a desirable 55+ community. Located at a quiet dead end, this home offers privacy and extensive updates, including a new roof, HardiePlank siding, flooring, and carport. With a monthly space rent of $890, this is a fantastic opportunity for affordable, turn-key living. The open-concept interior features vaulted ceilings, fresh paint, and all appliances stay and include a washer and dryer. Enjoy peaceful green space views from your kitchen and the convenience of a 10' x 12' lofted shed. Experience quiet living in this exceptionally well-maintained park.

ⓘ 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: $612 · $51/mo
• Projected year-2 tax: $612 · $51/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 6/10 Major FEMA zone X · 71% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥89°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 7/10 Severe 8 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,402
• − Mortgage interest: −$1,961
• − Property taxes: −$612
• − Insurance: −$175
• − Repairs & maintenance: −$1,232
• − Management: −$1,232
• − Depreciation: −$1,018
• Taxable income: $9,172
• Est. tax owed @ 24.0%: −$2,201
• After-tax cash flow: $6,977/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: Kelso School District
• NCES district ID: 5300003
• Math proficiency: 35% ▼ -2.00%
• Reading proficiency: 53% ▼ -1.00%
• Median HH income: $47,840
• Composite: 39.83/100
• National rank: #7963
• State rank: #191 of 291 in WA

Livability — Lexington

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Lexington, WA
• County: Cowlitz County · 77,527 people
• Metro: Longview, WA
• Population (ZIP): 26,892
• Household income: $75,528
• Rent vs Own: 31.5% rent · 68.5% own
• Severe rent burden: 722.0

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 (85%)
• Race & ethnicity: White 85% Hispanic / Latino 7% Two or more races 7% Native American 2% Asian 1%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Portuguese 5% Slovak 4% Italian 3%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 3% Tagalog/Filipino 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: ▼ -321.36%
• Current HPI: 262.8196
• Rent YoY: ▲ 4.10%
• 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

-33.6% since first listed

6 events — show timeline

• 2026-03-05 Price Changed $35,000 NWMLS as Distributed by MLS Grid
• 2026-03-05 Price Changed $35,000 RMLS
• 2026-02-24 Price Changed $45,000 RMLS
• 2026-02-24 Price Changed $45,000 NWMLS as Distributed by MLS Grid
• 2025-12-26 Listed $52,700 RMLS
• 2025-12-26 Listed $52,700 NWMLS as Distributed by MLS Grid

Property tax history

+6.0%/yr

Latest (2026): $612 · +2.7% YoY. Source: county tax records.