16812 SE 1st St #9 · Vancouver, WA 98684

$220,000

3 bd · 2.0 ba · 1,404 sqft · Manufactured public records · 21 Days on market

Built 2007 Est $159k · 39% over

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Why this score? — see what drove the D+ 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 +22.9/30.0
• DSCR +7.3/10.0
• 1% rule +5.2/10.0
• Schools +4.3/10.0
• Livability +4.1/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Beautifully updated and move-in ready, this spacious 3-bedroom, 2-bath manufactured home in the desirable Great Western all-ages park offers comfort, updates, and an incredible outdoor setup. Located in a fantastic east Vancouver location close to shopping, restaurants, schools, and everyday amenities. Inside, you’ll find recent improvements throughout, including new flooring in the kitchen and bathrooms, all new toilets, fresh exterior paint, some new interior paint, new decking, and a brand-new 40-year architectural roof for added peace of mind. The kitchen has been thoughtfully updated with custom alder wood cabinet doors and drawer fronts along with a new kitchen faucet, giving th

Key facts

• New toilets
• New decking
• New flooring

Tags

• EAST VANCOUVER LOCATION
• NEW FLOORING
• NEW TOILETS
• FRESH EXTERIOR PAINT
• NEW DECKING
• 40-YEAR ARCHITECTURAL ROOF

Property features AI

Finance

• Financial info: Monthly lot rent reported
• HOA & community: Located in Great Western Mobile Home Park; Land lease applicable (monthly lot rent); Land lease expires August 1, 2026

Exterior

• Parking: Driveway parking
• Utilities: Public water; Public sewer; Electric service
• Home design: Manufactured home in a park (Fleetwood model 50x20); Single-story (one level entry); No significant view reported
• Construction: Built in 2007; Cement siding; Composition roof; Skirting foundation
• Exterior features: Covered deck and open deck; Fenced yard; Porch; Outbuilding, tool shed and workshop; Raised garden beds; RV/boat storage; Storm doors; Yard; Public road access

Interior

• Kitchen: Dishwasher; Free-standing range; Free-standing refrigerator; Microwave; Pantry; Eat bar; Plumbed for ice maker; Stainless steel appliances; Laminate flooring in kitchen
• Bedrooms: Primary bedroom on main level with ensuite bath, double sinks, soaking tub, walk-in shower and walk-in closet; Second bedroom on main level with ceiling fan, laminate flooring and walk-in closet; Third bedroom on main level with ceiling fan, closet and laminate flooring
• Flooring: Laminate flooring in primary living areas and bedrooms; Vinyl flooring in some areas
• Bathrooms: Two full bathrooms (both on main level)
• Heating & cooling: Forced air heating; Window cooling units
• Interior features: Ceiling fans in multiple rooms; High ceilings; Laundry area; Soaking tub; Walk-in shower; Washer/Dryer included; Double pane windows with vinyl frames; Minimal steps / one-level accessibility; Crawl space basement
• Laundry & utility: Main-level laundry with exterior entry; Washer and dryer present; Hot water: electric

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $220k.

Deal economics

• At list price, monthly cash flow is $386 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $220k).
• Recommended offer: $217k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.4% vs local median 2.7% in Vancouver — 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 82/100 on livability (#62 in WA, #1,133 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, housing A+; Watch: crime F, cost of living D-.
• Evergreen School District (Clark) (urban): math 41% / reading 51% proficiency, ranked #164 of 291 in WA (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Illahee Elementary School (407 students, 27% FRL); Shahala Middle School (874 students, 44% FRL); Union High School (2,021 students, 38% FRL) — zoned schools at 36% FRL track the district average.
• Market conditions: Rents rising (+1.2%/yr); 299 active listings in the ZIP; 39 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 3,547 units permitted in Clark County in 2024 (1,361 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Clark County population projected at +29% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($217k) is reasonable based on typical stale-listing flexibility.

Recommended offer $216,700 (1.5% below list)

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. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
3. 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?
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: 1.02% ✓
• Cap rate: 8.40%
• Cash-on-cash: 7.52%
• DSCR: 1.33
• GRM: 8.2

CMA / ARV

• ARV (on-the-fly): $158,652
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
16500 SE 1st St #98	0.19mi	3/2.0	1,392 (-1%)	2mo	$115,000	$83	88
16500 SE 1st St	0.19mi	3/2.0	1,392 (-1%)	2mo	$115,000	$83	88
16812 SE 1st St #71	0.00mi	3/2.0	1,325 (-6%)	7mo	$155,000	$117	84
16812 SE 1st St #51	0.00mi	3/2.0	1,456 (+4%)	12mo	$210,000	$144	84
16812 SE 1st St #69	0.00mi	4/2.0 (+1)	1,440 (+3%)	9mo	$206,000	$143	83
16500 SE 1st St #170	0.19mi	2/2.0 (-1)	1,355 (-4%)	1mo	$155,000	$114	79
16500 SE 1st St #19	0.19mi	3/2.0	1,309 (-7%)	2mo	$117,000	$89	78
16812 SE 1st St #84	0.00mi	3/2.0	1,248 (-11%)	8mo	$124,600	$100	75
16500 SE 1st St #71	0.19mi	2/2.0 (-1)	1,418 (+1%)	12mo	$160,000	$113	75
16500 SE 1st St #129	0.19mi	2/2.0 (-1)	1,493 (+6%)	13mo	$177,000	$119	65
16500 SE 1st St #56	0.19mi	2/2.0 (-1)	1,263 (-10%)	8mo	$112,000	$89	63
16500 SE 1st St #91	0.19mi	2/2.0 (-1)	1,520 (+8%)	17mo	$135,000	$89	58

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 · 1.16% rent growth · sell at horizon

5-year hold

• IRR: -6.8%
• Equity multiple: 0.75×
• Total profit: $-15,181
• Equity at exit: $32,803

10-year hold

• IRR: 0.5%
• Equity multiple: 1.03×
• Total profit: $2,154
• Equity at exit: $19,022

Cash invested: $61,600 (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 98684

• Rents YoY: 1.2%
• Active inventory: 299
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $2,235 high
• Mortgage (P&I): −$1,154
• Tax from tax record: −$135 /mo · $1,615/yr
• Insurance: −$92
• HOA: −$0
• Vacancy / Maint / Mgmt: −$469
• Net cashflow: $386

Break-even live

Break-even rent $1,747

Max offer price $220,000

Occupancy floor 78%

Sensitivity live

Price	-10% $511	-5% $448	+0% $386	+5% $324	+10% $261
Rent	-10% $209	-5% $298	+0% $386	+5% $474	+10% $563
Rate	-1.0pp $497	-0.5pp $442	base $386	+0.5pp $329	+1.0pp $271

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: $55,000
• Closing costs: $6,600
• Reserves months: —
• Total cash needed: —

Rent comps 39 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
16801 SE 1st St Vancouver, WA	2.0	1.0	960	$1,608	$1.68	24d	1	0.21mi
301 SE 166th Ave Vancouver, WA	3.0	1.0–2.0	883	$2,080	$2.36	8d	15	0.23mi
621 SE 168th Ave Vancouver, WA	2.0–3.0	1.0–2.0	1125	$2,274	$2.02	3d	9	0.35mi
621 SE 168th Ave Vancouver, WA	3.0	1.0–2.0	869	$2,294	$2.64	15d	7	0.35mi
16202 NE 8th St Unit B Vancouver, WA	2.0	2.5	1500	$2,150	$1.43	44d	1	0.45mi
600 SE 177th Ave Vancouver, WA	1.0–3.0	1.0–2.0	931	$2,535	$2.72	2d	20	0.50mi
1207 NE 166th Ave Vancouver, WA	3.0	2.0	1533	$6,000	$3.91	2d	1	0.57mi
16312 NE 12th St Unit 2 Vancouver, WA	3.0	2.0	1616	$2,059	$1.27	44d	1	0.59mi
112 SE 158th Ave Vancouver, WA	3.0	2.0	1174	$1,995	$1.70	24d	1	0.61mi
17775 SE Mill Plain Blvd Vancouver, WA	1.0–2.0	1.0–2.0	732	$2,353	$3.21	5d	1	0.70mi
15501 NE 2nd St Vancouver, WA	3.0	2.0	1264	$2,750	$2.18	2d	1	0.71mi
510 SE 157th Ave #35 Vancouver, WA	2.0	2.0	1060	$1,895	$1.79	24d	1	0.74mi
1000 SE 160th Ave Apt FF257 Vancouver, WA	3.0	2.0	1050	$1,950	$1.86	44d	1	0.77mi
1000 SE 160th Ave Apt M104 Vancouver, WA	2.0	2.0	906	$1,600	$1.77	8d	1	0.77mi
1000 SE 160th Ave Apt N116 Vancouver, WA	2.0	2.0	906	$1,600	$1.77	18d	1	0.77mi
1000 SE 160th Ave Apt DD238 Vancouver, WA	2.0	2.0	906	$1,600	$1.77	44d	1	0.77mi
1000 SE 160th Ave Unit RR-342 Vancouver, WA	2.0	2.0	906	$1,600	$1.77	24d	1	0.77mi
1000 SE 160th Ave Unit RR-336 Vancouver, WA	2.0	2.0	906	$1,600	$1.77	17d	1	0.77mi
505 SE 184th Ave Vancouver, WA	1.0–3.0	1.0–2.0	928	$2,695	$2.90	2d	24	0.82mi
1600 SE 168th Ave Vancouver, WA	3.0	1.5	1210	$2,350	$1.94	5d	1	0.93mi
1603 SE 171st Pl Vancouver, WA	4.0	2.5	1771	$6,300	$3.56	18d	1	0.95mi
1302 SE 155th Ave Vancouver, WA	3.0	2.0	1558	$2,495	$1.60	45d	1	1.02mi
16334 NE 20th St Vancouver, WA	3.0	2.5	1432	$2,695	$1.88	5d	1	1.04mi
17003 NE 22nd St Vancouver, WA	3.0	2.0	1448	$2,575	$1.78	5d	1	1.07mi
16332 NE 21st St Vancouver, WA	3.0	2.5	1541	$2,595	$1.68	24d	1	1.08mi
14913 SE Mill Plain Blvd Vancouver, WA	1.0–2.0	1.0–2.0	939	$2,000	$2.13	2d	4	1.08mi
14616 SE 1st St Vancouver, WA	3.0	1.5	1200	$1,975	$1.65	44d	1	1.11mi
2119 NE 163rd Ave Vancouver, WA	3.0	2.5	1657	$2,515	$1.52	44d	1	1.11mi
Chase LNDG Gresham, OR	3.0	2.5	1389	$2,200	$1.58	13d	3	1.18mi
2419 NE 164th Ave Vancouver, WA	3.0	2.0	1386	$2,809	$2.03	3d	1	1.23mi
14600 SE 7th Way Vancouver, WA	3.0	2.5	1476	$2,345	$1.59	44d	1	1.26mi
19600 NE 3rd St Camas, WA	1.0–3.0	1.0–2.0	952	$2,825	$2.97	2d	20	1.33mi
2712 NE 164th Pl Vancouver, WA	3.0	2.0	1380	$2,495	$1.81	24d	1	1.38mi
16900 SE 26th Dr Vancouver, WA	2.0	2.0	1043	$1,926	$1.85	2d	5	1.38mi
2404 SE 161st Ct Unit X182 Vancouver, WA	2.0	2.0	900	$1,495	$1.66	20d	1	1.43mi
19002 SE 17th St Vancouver, WA	4.0	2.5	1712	$2,745	$1.60	15d	1	1.43mi
14111 SE 6th St Vancouver, WA	2.0	1.5	1201	$2,104	$1.75	24d	1	1.44mi
2610 SE 164th Ave Unit G12 Vancouver, WA	2.0	2.0	1130	$2,265	$2.00	44d	1	1.45mi
1203 NE Keyes Rd Vancouver, WA	3.0	2.0	1400	$2,199	$1.57	44d	1	1.46mi

Listing history 14 events

1. 2026-06-18
   days on market $220,000 Active 21 DOM
2. 2026-06-17
   days on market $220,000 Active 20 DOM
3. 2026-06-16
   days on market $220,000 Active 19 DOM
4. 2026-06-15
   days on market $220,000 Active 18 DOM
5. 2026-06-13
   days on market $220,000 Active 16 DOM
6. 2026-06-13
   days on market $220,000 Active 15 DOM
7. 2026-06-09
   days on market $220,000 Active 12 DOM
8. 2026-06-08
   days on market $220,000 Active 11 DOM
9. 2026-06-07
   days on market $220,000 Active 10 DOM
10. 2026-06-03
    days on market $220,000 Active 6 DOM
11. 2026-06-02
    days on market $220,000 Active 5 DOM
12. 2026-06-01
    days on market $220,000 Active 4 DOM
13. 2026-05-31
    days on market $220,000 Active 3 DOM
14. 2026-05-28
    listed $220,000 Active

ⓘ 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: $1,615 · $135/mo
• Projected year-2 tax: $2,156 · $180/mo
• Expected delta: +$541/yr (+$45/mo · 33.5%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $26,825
• − Mortgage interest: −$12,323
• − Property taxes: −$1,615
• − Insurance: −$1,100
• − Repairs & maintenance: −$2,146
• − Management: −$2,146
• − Depreciation: −$6,400
• Taxable income: $1,095
• Est. tax owed @ 24.0%: −$263
• After-tax cash flow: $4,370/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: Evergreen School District (Clark)
• NCES district ID: 5302700
• Math proficiency: 41% ▼ -3.00%
• Reading proficiency: 51% ▼ -3.00%
• Median HH income: $59,418
• Composite: 42.53/100
• National rank: #6859
• State rank: #164 of 291 in WA

Livability — Vancouver

• Score: 82/100
• State rank: #62
• US rank: #1133

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Clark County · 513,189 people
• City population: 360,195
• Metro: Portland-Vancouver-Hillsboro, OR-WA
• Population (ZIP): 37,298
• Household income: $90,620
• Rent vs Own: 46.6% rent · 53.4% own
• Severe rent burden: 1481.0

Population outlook (Clark County) Hauer SSP2

• Today (2025): 529,610 people
• By 2030: 563,242 · +6.4%
• By 2040: 625,905 · +18.2%
• By 2050: 681,558 · +28.7%
• By 2075: 805,967 · +52.2%
• By 2100: 877,450 · +65.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: White 64% Hispanic / Latino 17% Two or more races 14% Asian 6% Pacific Islander 3% Black 2%
• Hispanic origin (detail): Mexican 12%
• Common ancestry: Portuguese 4% Slovak 3% Iranian 2%
• Foreign-born: 16% · Canada, China, Vietnam
• Languages at home: 77% English-only · Spanish 10% Other Asian/Pacific 3% Russian/Polish/Slavic 3%

Political lean MEDSL · Clark

• 2024 margin: Lean D (+7.0) · D 52.1% · R 45.1% · Other 2.8%
• 2008→2024 swing: +0.9pp no change · 2008: 6.1pp · 2024: 7.0pp
• All cycles: 2024: D+7.0 2020: D+5.1 2016: D+0.1 2012: D+0.1 2008: D+6.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -237.93%
• Current HPI: 290.416
• Rent YoY: ▲ 1.16%
• Metro: Portland-Vancouver-Hillsboro, OR-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

1 event — show timeline

• 2026-05-28 Listed $220,000 RMLS

Property tax history

+6.0%/yr

Latest (2026): $1,615 · +58.8% YoY. Source: county tax records.