327 Franklin Pl · Longview, WA 98632

$115,000

2 bd · 2.0 ba · 1,180 sqft · Manufactured public records · 6 Days on market

Built 1992 4,368 sqft lot Est $140k · 18% under

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Why this score? — see what drove the B+ 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
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.8/10.0
• Schools +4.0/10.0
• Livability +3.6/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

1,180 SF 2 bedroom 1.75 bathroom manufactured home in Heron Pointe park. Master suite with walk-in shower and dual closets. Very spacious living room, dining room and kitchen with newer counter tops. Vaulted ceilings, laminate flooring, skylight and solar tubes. Windows include blinds. Laundry utility room with washer and dryer. Newer heat pump. Newer porches. Large patio and fenced back and side yards. Two car carport. Tuff Shed.

Key facts

• New heat pump
• New furnace
• Attached bathroom

Tags

• DOUBLE-WIDE MANUFACTURED HOME
• NEW HEAT PUMP
• NEW FURNACE
• PRIMARY SUITE
• ATTACHED BATHROOM
• ALL APPLIANCES INCLUDED

Property features AI

Finance

• Other: Calculated living area approximately 1180; Listed as residential manufactured home; Style: Manuf-Double Wide
• Financial info: Listing terms: Cash or Conventional; Land lease amount applies
• HOA & community: Located in Heron Pointe park; Park approved for sale; Park amenities: clubhouse, common area, playground, RV parking; Approximately 230 homes in the park; Cats and dogs allowed

Exterior

• Parking: Carport
• Utilities: Electric energy source; Public water; Public sewer; Power by Cowlitz PUD; Water company: City of Longview; Sewer company: City of Longview; Electric water heater
• Home design: Manufactured home (double wide); One level; Manufactured after 06/15/1976; Good condition; Vinyl skirting; Pillar/post/pier foundation with tie downs
• Construction: Metal and vinyl construction; Guerdon make
• Exterior features: Metal/vinyl exterior; Patio/porch/deck; Landscaped

Interior

• Kitchen: Dishwasher; Stove/Range; Refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Vinyl plank; Carpet
• Bathrooms: 1 full bath; 1 three-quarter bath; 1 bathtub; 2 showers
• Heating & cooling: Forced air heating; Heat pump (heating and cooling)
• Interior features: Water heater; Skylights; Vaulted ceilings; Walk-in closet; Bath off primary
• Laundry & utility: Washer; Dryer; Water heater located in laundry room

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $115k.

Deal economics

• At list price, monthly cash flow is $444 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $115k).
• Cap rate 10.9% 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.

Location & tenants

• 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.
• Zoned schools: R A Long High School (922 students, 71% FRL) — zoned schools average 71% FRL vs 54% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+2.6%/yr); 356 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $795 of loan paydown is wiped out by about $3k 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 + 2.6% rent growth), your $32k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 14y 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 $36k; list at $115k implies a 215% gain — meaningful room to come down on a strong offer.

Recommended offer $115,000

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. 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.
3. 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.
4. 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: 1.28% ✓
• Cap rate: 10.93%
• Cash-on-cash: 16.56%
• DSCR: 1.74
• GRM: 6.5

CMA / ARV

• ARV (on-the-fly): $140,420
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
336 Franklin Pl	0.05mi	2/2.0	1,176 (-0%)	0mo	$140,000	$119	97
77 Blue Heron Dr	0.17mi	3/2.0 (+1)	1,188 (+1%)	4mo	$158,800	$134	82
129 Arlington Pl	0.05mi	2/2.0	1,080 (-8%)	3mo	$106,900	$99	81
128 Arlington Pl #128	0.06mi	2/2.0	1,120 (-5%)	12mo	$110,000	$98	78
608 Egret Ln	0.14mi	3/2.0 (+1)	1,296 (+10%)	1mo	$150,000	$116	71
78 Blue Heron Dr	0.18mi	3/2.0 (+1)	1,296 (+10%)	9mo	$162,000	$125	63
47 Heritage Blvd	0.02mi	3/2.0 (+1)	1,296 (+10%)	19mo	$169,900	$131	62
38 Heritage Blvd	0.04mi	3/2.0 (+1)	1,296 (+10%)	21mo	$125,000	$96	59
83 Blue Heron Dr	0.20mi	3/2.0 (+1)	1,296 (+10%)	16mo	$165,000	$127	56
704 Pintail Ln	0.15mi	3/2.0 (+1)	1,296 (+10%)	22mo	$145,000	$112	53
130 Blue Heron Dr	0.17mi	3/2.0 (+1)	1,296 (+10%)	22mo	$165,000	$127	52
5600 MT Solo Rd #77	0.56mi	2/2.0	1,008 (-15%)	6mo	$15,000	$15	44

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 · 2.59% rent growth · sell at horizon

5-year hold

• IRR: 7.2%
• Equity multiple: 1.28×
• Total profit: $9,041
• Equity at exit: $17,147

10-year hold

• IRR: 16.2%
• Equity multiple: 2.30×
• Total profit: $41,758
• Equity at exit: $9,943

Cash invested: $32,200 (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 98632

• Rents YoY: 2.6%
• Active inventory: 356
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $1,470 medium
• Mortgage (P&I): −$603
• Tax from tax record: −$66 /mo · $791/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$309
• Net cashflow: $444

Break-even live

Break-even rent $908

Max offer price $115,000

Occupancy floor 65%

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5607 Finch Dr Longview, WA	2.0	1.0	925	$1,550	$1.68	21d	1	0.44mi
4714 Ocean Beach Hwy Longview, WA	2.0	1.0	880	$1,450	$1.65	3d	2	1.11mi

Listing history 23 events

1. 2026-04-30
   status Pending
2. 2026-04-24
   listed $115,000 Active
3. 2016-08-04
   historical 434-char remark

   Show marketing remark (434 chars)

   1,180 SF 2 bedroom 1.75 bathroom manufactured home in Heron Pointe park. Master suite with walk-in shower and dual closets. Very spacious living room, dining room and kitchen with newer counter tops. Vaulted ceilings, laminate flooring, skylight and solar tubes. Windows include blinds. Laundry utility room with washer and dryer. Newer heat pump. Newer porches. Large patio and fenced back and side yards. Two car carport. Tuff Shed.

4. 2016-08-02
   soldstatus $36,500 Sold 434-char remark

   Show marketing remark (434 chars)

   1,180 SF 2 bedroom 1.75 bathroom manufactured home in Heron Pointe park. Master suite with walk-in shower and dual closets. Very spacious living room, dining room and kitchen with newer counter tops. Vaulted ceilings, laminate flooring, skylight and solar tubes. Windows include blinds. Laundry utility room with washer and dryer. Newer heat pump. Newer porches. Large patio and fenced back and side yards. Two car carport. Tuff Shed.

5. 2016-08-02
   soldstatus $36,500 Sold

   Show marketing remark (434 chars)

   1,180 SF 2 bedroom 1.75 bathroom manufactured home in Heron Pointe park. Master suite with walk-in shower and dual closets. Very spacious living room, dining room and kitchen with newer counter tops. Vaulted ceilings, laminate flooring, skylight and solar tubes. Windows include blinds. Laundry utility room with washer and dryer. Newer heat pump. Newer porches. Large patio and fenced back and side yards. Two car carport. Tuff Shed.

6. 2016-07-24
   status Pending Inspection

   Show marketing remark (434 chars)

   1,180 SF 2 bedroom 1.75 bathroom manufactured home in Heron Pointe park. Master suite with walk-in shower and dual closets. Very spacious living room, dining room and kitchen with newer counter tops. Vaulted ceilings, laminate flooring, skylight and solar tubes. Windows include blinds. Laundry utility room with washer and dryer. Newer heat pump. Newer porches. Large patio and fenced back and side yards. Two car carport. Tuff Shed.

7. 2016-07-24
   status Pending 434-char remark

   Show marketing remark (434 chars)

   1,180 SF 2 bedroom 1.75 bathroom manufactured home in Heron Pointe park. Master suite with walk-in shower and dual closets. Very spacious living room, dining room and kitchen with newer counter tops. Vaulted ceilings, laminate flooring, skylight and solar tubes. Windows include blinds. Laundry utility room with washer and dryer. Newer heat pump. Newer porches. Large patio and fenced back and side yards. Two car carport. Tuff Shed.

8. 2016-05-02
   listed $40,000 Active

   Show marketing remark (434 chars)

   1,180 SF 2 bedroom 1.75 bathroom manufactured home in Heron Pointe park. Master suite with walk-in shower and dual closets. Very spacious living room, dining room and kitchen with newer counter tops. Vaulted ceilings, laminate flooring, skylight and solar tubes. Windows include blinds. Laundry utility room with washer and dryer. Newer heat pump. Newer porches. Large patio and fenced back and side yards. Two car carport. Tuff Shed.

9. 2016-05-02
   listed $40,000 Active 434-char remark

   Show marketing remark (434 chars)

   1,180 SF 2 bedroom 1.75 bathroom manufactured home in Heron Pointe park. Master suite with walk-in shower and dual closets. Very spacious living room, dining room and kitchen with newer counter tops. Vaulted ceilings, laminate flooring, skylight and solar tubes. Windows include blinds. Laundry utility room with washer and dryer. Newer heat pump. Newer porches. Large patio and fenced back and side yards. Two car carport. Tuff Shed.

10. 2014-12-12
    historical

    Show marketing remark (468 chars)

    Picture perfect updated home! Pristine home w/1180 SF, 2 bdrms, 1.75 bthrms, master suite w/walk in shower & dual closets, utility rm, spacious living rm, dining rm & kitchen w/vaulted ceilings, laminate flooring, skylight & solar tubes, honey comb blinds & new counter tops. New roof, heat pump & entry porches, two car tandem carport, 10 x 10 Tuff Shed, manicured grounds w/cyclone fenced back & side yards & large patio for entertaining.

11. 2014-12-12
    soldstatus $34,000 Sold 468-char remark

    Show marketing remark (468 chars)

    Picture perfect updated home! Pristine home w/1180 SF, 2 bdrms, 1.75 bthrms, master suite w/walk in shower & dual closets, utility rm, spacious living rm, dining rm & kitchen w/vaulted ceilings, laminate flooring, skylight & solar tubes, honey comb blinds & new counter tops. New roof, heat pump & entry porches, two car tandem carport, 10 x 10 Tuff Shed, manicured grounds w/cyclone fenced back & side yards & large patio for entertaining.

12. 2014-12-12
    soldstatus $34,000 Sold

    Show marketing remark (468 chars)

    Picture perfect updated home! Pristine home w/1180 SF, 2 bdrms, 1.75 bthrms, master suite w/walk in shower & dual closets, utility rm, spacious living rm, dining rm & kitchen w/vaulted ceilings, laminate flooring, skylight & solar tubes, honey comb blinds & new counter tops. New roof, heat pump & entry porches, two car tandem carport, 10 x 10 Tuff Shed, manicured grounds w/cyclone fenced back & side yards & large patio for entertaining.

13. 2014-11-30
    status Pending Inspection

    Show marketing remark (468 chars)

    Picture perfect updated home! Pristine home w/1180 SF, 2 bdrms, 1.75 bthrms, master suite w/walk in shower & dual closets, utility rm, spacious living rm, dining rm & kitchen w/vaulted ceilings, laminate flooring, skylight & solar tubes, honey comb blinds & new counter tops. New roof, heat pump & entry porches, two car tandem carport, 10 x 10 Tuff Shed, manicured grounds w/cyclone fenced back & side yards & large patio for entertaining.

14. 2014-11-30
    status Pending 468-char remark

    Show marketing remark (468 chars)

    Picture perfect updated home! Pristine home w/1180 SF, 2 bdrms, 1.75 bthrms, master suite w/walk in shower & dual closets, utility rm, spacious living rm, dining rm & kitchen w/vaulted ceilings, laminate flooring, skylight & solar tubes, honey comb blinds & new counter tops. New roof, heat pump & entry porches, two car tandem carport, 10 x 10 Tuff Shed, manicured grounds w/cyclone fenced back & side yards & large patio for entertaining.

15. 2014-11-04
    price $37,500 468-char remark

    Show marketing remark (468 chars)

    Picture perfect updated home! Pristine home w/1180 SF, 2 bdrms, 1.75 bthrms, master suite w/walk in shower & dual closets, utility rm, spacious living rm, dining rm & kitchen w/vaulted ceilings, laminate flooring, skylight & solar tubes, honey comb blinds & new counter tops. New roof, heat pump & entry porches, two car tandem carport, 10 x 10 Tuff Shed, manicured grounds w/cyclone fenced back & side yards & large patio for entertaining.

16. 2014-11-04
    price $37,500

    Show marketing remark (468 chars)

    Picture perfect updated home! Pristine home w/1180 SF, 2 bdrms, 1.75 bthrms, master suite w/walk in shower & dual closets, utility rm, spacious living rm, dining rm & kitchen w/vaulted ceilings, laminate flooring, skylight & solar tubes, honey comb blinds & new counter tops. New roof, heat pump & entry porches, two car tandem carport, 10 x 10 Tuff Shed, manicured grounds w/cyclone fenced back & side yards & large patio for entertaining.

17. 2014-09-16
    listed $38,500 Active 468-char remark

    Show marketing remark (468 chars)

    Picture perfect updated home! Pristine home w/1180 SF, 2 bdrms, 1.75 bthrms, master suite w/walk in shower & dual closets, utility rm, spacious living rm, dining rm & kitchen w/vaulted ceilings, laminate flooring, skylight & solar tubes, honey comb blinds & new counter tops. New roof, heat pump & entry porches, two car tandem carport, 10 x 10 Tuff Shed, manicured grounds w/cyclone fenced back & side yards & large patio for entertaining.

18. 2014-09-16
    listed $38,500 Active

    Show marketing remark (468 chars)

    Picture perfect updated home! Pristine home w/1180 SF, 2 bdrms, 1.75 bthrms, master suite w/walk in shower & dual closets, utility rm, spacious living rm, dining rm & kitchen w/vaulted ceilings, laminate flooring, skylight & solar tubes, honey comb blinds & new counter tops. New roof, heat pump & entry porches, two car tandem carport, 10 x 10 Tuff Shed, manicured grounds w/cyclone fenced back & side yards & large patio for entertaining.

19. 2012-12-03
    historical
20. 2012-11-30
    soldstatus $33,000 Sold
21. 2012-10-29
    status Pending
22. 2012-10-10
    listed $35,000 Active
23. 1996-04-01
    soldstatus $34,500

ⓘ 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: $791 · $66/mo
• Projected year-2 tax: $1,127 · $94/mo
• Expected delta: +$336/yr (+$28/mo · 42.4%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 8 d/yr ≥89°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 7/10 Severe 9 unhealthy d/yr today · 9 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,641
• − Mortgage interest: −$6,442
• − Property taxes: −$791
• − Insurance: −$575
• − Repairs & maintenance: −$1,411
• − Management: −$1,411
• − Depreciation: −$3,345
• Taxable income: $3,665
• Est. tax owed @ 24.0%: −$880
• After-tax cash flow: $4,454/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: Longview School District
• NCES district ID: 5304470
• Math proficiency: 40% ▲ 1.00%
• Reading proficiency: 51% ▲ 3.00%
• Median HH income: $41,324
• Composite: 40.41/100
• National rank: #7732
• State rank: #185 of 291 in WA

Livability — Longview

• Score: 71/100
• State rank: #228
• US rank: #6972

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Longview, WA
• County: Cowlitz County · 77,527 people
• City population: 50,635
• Metro: Longview, WA
• Population (ZIP): 50,635
• Household income: $66,305
• Rent vs Own: 39.2% rent · 60.8% own
• Severe rent burden: 2224.0

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 (78%)
• Race & ethnicity: White 78% Hispanic / Latino 12% Two or more races 11% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 10%
• Common ancestry: Portuguese 5% Lithuanian 3% Italian 3%
• Foreign-born: 4% · Canada, Vietnam
• Languages at home: 91% English-only · Spanish 7% Other Asian/Pacific 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: ▼ -479.09%
• Current HPI: 230.8501
• Rent YoY: ▲ 2.59%
• 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

+233.3% since first listed

23 events — show timeline

• 2026-04-30 Pending — NWMLS as Distributed by MLS Grid
• 2026-04-24 Listed $115,000 NWMLS as Distributed by MLS Grid
• 2016-08-04 Delisted — RMLS
• 2016-08-02 Sold (MLS) $36,500 NWMLS as Distributed by MLS Grid
• 2016-08-02 Sold (MLS) $36,500 RMLS
• 2016-07-24 Pending — NWMLS as Distributed by MLS Grid
• 2016-07-24 Pending — RMLS
• 2016-05-02 Listed $40,000 NWMLS as Distributed by MLS Grid
• 2016-05-02 Listed $40,000 RMLS
• 2014-12-12 Delisted — NWMLS as Distributed by MLS Grid
• 2014-12-12 Sold (MLS) $34,000 NWMLS as Distributed by MLS Grid
• 2014-12-12 Sold (MLS) $34,000 RMLS
• 2014-11-30 Pending — NWMLS as Distributed by MLS Grid
• 2014-11-30 Pending — RMLS
• 2014-11-04 Price Changed $37,500 RMLS
• 2014-11-04 Price Changed $37,500 NWMLS as Distributed by MLS Grid
• 2014-09-16 Listed $38,500 RMLS
• 2014-09-16 Listed $38,500 NWMLS as Distributed by MLS Grid
• 2012-12-03 Delisted — NWMLS as Distributed by MLS Grid
• 2012-11-30 Sold (MLS) $33,000 NWMLS as Distributed by MLS Grid
• 2012-10-29 Pending — NWMLS as Distributed by MLS Grid
• 2012-10-10 Listed $35,000 NWMLS as Distributed by MLS Grid
• 1996-04-01 Sold (Public Records) $34,500 Public Records

Property tax history

+4.7%/yr

Latest (2026): $791 · -19.0% YoY. Source: county tax records.