5701 NE St Johns Rd #21 · Minnehaha, WA 98661

$189,000

3 bd · 2.0 ba · 1,616 sqft · Manufactured public records · 7 Days on market

Built 1991 Est $204k · 7% 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 +10.7/15.0
• DSCR +10.0/10.0
• 1% rule +7.6/10.0
• Schools +4.3/10.0
• Livability +4.2/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

1990 SILVERWOOD MANUFACTURED/OAK HAVEN 55+ COMMUNITY. NEW PAINT IN & OUT, NEW CARPET & VINYL, NEW ROOF, MSTR BDR W/WLK-IN CLOSET, & LG BATH DBL CARPORT W/SHED. ALL APPLIANCES STAY. NEW WASHER/DRYER & DISHWASHER $320 MO FEE. FOURTH DRIVEWAY ON THE

Key facts

• Primary suite
• Dining area
• Large living room

Tags

• LARGE LIVING ROOM
• SEPARATE FAMILY ROOM
• DINING AREA
• KITCHEN WITH BREAKFAST BAR
• SKYLIGHT
• PRIMARY SUITE

Property features AI

Finance

• Other: Zoned R-18
• Financial info: Land lease required; lot rent $900 monthly (lease expires December 31, 2026)
• HOA & community: Oak Haven Mobile Home Park (senior community); Park provides water and sewer

Exterior

• Parking: Covered carport
• Utilities: Public water; Public sewer; Electric service; Cable internet
• Home design: Manufactured home in park; Single-story; Not attached; Model: 60/28; No view
• Construction: Built in 1991; Composition roof; Skirting foundation
• Exterior features: T-111 siding; Paved road access; Secluded lot

Interior

• Kitchen: Free-standing range; Free-standing refrigerator; Electric hot water
• Bedrooms: Primary bedroom (Main level); 2nd bedroom (Main level); 3rd bedroom (Main level)
• Flooring: Luxury vinyl plank; Carpet
• Bathrooms: 2 full bathrooms (both on main level)
• Heating & cooling: Forced air heating; Heat pump cooling
• Interior features: Luxury vinyl plank flooring; Wall-to-wall carpet; Vinyl window frames; Basement hatch door
• Laundry & utility: Electric fuel for appliances

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $189k.

Deal economics

• 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 $189k).
• Cap rate 11.2% vs local median 2.8% in Minnehaha — 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 83/100 on livability (#47 in WA, #847 nationally) — a professional / high-income tenant draw. Strengths: commute A+, employment A+, housing A+; Watch: amenities F, cost of living D-.
• Vancouver School District (suburban): math 43% / reading 53% proficiency, ranked #156 of 291 in WA (top 54%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Minnehaha Elementary School (517 students, 59% FRL); Jason Lee Middle School (532 students, 59% FRL); Hudson'S Bay High School (1,143 students, 64% FRL) — zoned schools average 61% FRL vs 44% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+2.0%/yr); 266 active listings in the ZIP; 31 comparable units currently listed for rent nearby; rentals leasing fast (median 8d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 3,547 units permitted in Clark County in 2024 (1,361 in 5+ unit buildings).
• This rent runs 37% of the median local income ($77k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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.
• At projected returns (-3.0% appreciation + 2.0% rent growth), your $53k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 27y 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 $65k; list at $189k implies a 191% gain — meaningful room to come down on a strong offer.

Recommended offer $189,000

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: 1.26% ✓
• Cap rate: 11.18%
• Cash-on-cash: 17.47%
• DSCR: 1.78
• GRM: 6.6

CMA / ARV

• ARV (on-the-fly): $203,616
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5701 NE ST Johns Rd #58	0.01mi	2/2.0 (-1)	1,632 (+1%)	6mo	$185,000	$113	88
5701 NE St Johns Rd #86	0.01mi	3/2.0	1,512 (-6%)	7mo	$212,000	$140	82
5701 NE ST Johns Rd #47	0.01mi	3/2.0	1,548 (-4%)	19mo	$199,900	$129	76
5701 NE St Johns Rd #60	0.01mi	3/2.0	1,412 (-13%)	4mo	$177,500	$126	75
5701 NE ST Johns Rd #4	0.01mi	2/2.0 (-1)	1,392 (-14%)	4mo	$167,000	$120	68
5701 NE ST Johns Rd #40	0.01mi	2/2.0 (-1)	1,484 (-8%)	20mo	$218,000	$147	64
5701 NE ST Johns Rd #74	0.01mi	3/2.0	1,454 (-10%)	24mo	$179,900	$124	63

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 · 2.05% rent growth · sell at horizon

5-year hold

• IRR: 7.9%
• Equity multiple: 1.30×
• Total profit: $16,107
• Equity at exit: $28,181

10-year hold

• IRR: 16.3%
• Equity multiple: 2.28×
• Total profit: $67,798
• Equity at exit: $16,341

Cash invested: $52,920 (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 98661

• Rents YoY: 2.0%
• Active inventory: 266
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $2,378 high
• Mortgage (P&I): −$991
• Tax from tax record: −$39 /mo · $464/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$499
• Net cashflow: $770

Break-even live

Break-even rent $1,403

Max offer price $189,000

Occupancy floor 63%

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: $47,250
• Closing costs: $5,670
• Reserves months: —
• Total cash needed: —

Rent comps 31 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3544 NE 61st Way Vancouver, WA	4.0	2.5	1661	$2,595	$1.56	23d	1	0.24mi
5009 NE 29th Ave Vancouver, WA	3.0	2.5	1588	$3,200	$2.02	3d	1	0.45mi
4802 NE 37th Ct Vancouver, WA	3.0	2.5	1648	$2,495	$1.51	23d	1	0.46mi
3503 NE 49th St Vancouver, WA	2.0	1.5	1100	$1,409	$1.28	23d	1	0.47mi
3805 NE 49th St Unit B204 Vancouver, WA	3.0	2.0	1325	$1,899	$1.43	23d	1	0.47mi
5010 NE 29th Ave Vancouver, WA	3.0	2.5	1585	$2,495	$1.57	3d	1	0.47mi
4941 NE 24th Ave Vancouver, WA	4.0	2.5	2210	$2,998	$1.36	3d	1	0.69mi
3608 NE 42nd St Vancouver, WA	3.0	2.5	1776	$2,495	$1.40	23d	1	0.73mi
5200 NE 19th Ave Vancouver, WA	4.0	1.0	2000	$2,620	$1.31	2d	1	0.92mi
3008 NE 74th St Vancouver, WA	3.0	2.5	1834	$2,450	$1.34	16d	1	0.95mi
5313 NE 68th St Vancouver, WA	2.0–3.0	2.0	1108	$1,825	$1.65	16d	2	0.96mi
3005 NE 75th St Vancouver, WA	3.0	2.5	1849	$2,615	$1.41	22d	1	0.97mi
5811 NE 56th Pl Vancouver, WA	3.0	2.5	1608	$2,495	$1.55	23d	1	0.99mi
7714 NE 39th Ct Vancouver, WA	1.0–2.0	1.0–2.0	921	$2,035	$2.21	2d	12	1.01mi
5404 NE 45th St Vancouver, WA	3.0	2.0	1276	$2,795	$2.19	7d	1	1.04mi
5917 NE 58th Ave Vancouver, WA	3.0	2.5	1498	$2,350	$1.57	23d	1	1.07mi
5917 NE 58th St Vancouver, WA	1.0–3.0	1.0–2.0	1162	$2,075	$1.78	7d	3	1.11mi
4316 NE 34th Cir Vancouver, WA	3.0	2.5	1482	$2,450	$1.65	2d	1	1.18mi
6008 NE 64th St Vancouver, WA	3.0	3.0	1288	$2,184	$1.70	7d	3	1.22mi
8007 NE 38th Ave Vancouver, WA	3.0	2.5	1477	$2,395	$1.62	3d	1	1.22mi
6313 NE 61st Ave Vancouver, WA	3.0	2.5	1346	$2,595	$1.93	2d	1	1.27mi
4500 Nicholson Rd Vancouver, WA	2.0–3.0	2.0	1034	$2,154	$2.08	2d	8	1.27mi
8111 NE 36th Ct Vancouver, WA	3.0	2.5	1512	$2,295	$1.52	7d	1	1.28mi
2702 E 33rd St Unit 1334336P Vancouver, WA	3.0	2.0	1496	$5,271	$3.52	23d	1	1.29mi
NE 47 NE 47th Ct Vancouver, WA	3.0	2.5	1475	$2,850	$1.93	1d	5	1.31mi
3100 Falk Rd Vancouver, WA	2.0–3.0	2.0–3.0	1234	$2,299	$1.86	1d	4	1.35mi
2301 NE 81st St Vancouver, WA	1.0–3.0	1.0–2.0	1080	$2,550	$2.36	1d	10	1.35mi
8225 NE St Johns Rd Vancouver, WA	3.0	2.0	1584	$2,048	$1.29	3d	1	1.36mi
1307 NE 70th St Vancouver, WA	3.0	2.0	1802	$2,829	$1.57	23d	1	1.38mi
5406 NE 34th St Unit A1 Vancouver, WA	3.0	1.5	1124	$2,095	$1.86	4d	1	1.42mi
2920 Falk Rd Vancouver, WA	2.0–3.0	2.5–3.0	1268	$2,565	$2.02	1d	1	1.44mi

Listing history 9 events

1. 2026-06-18
   days on market $189,000 Active 7 DOM
2. 2026-06-17
   days on market $189,000 Active 6 DOM
3. 2026-06-16
   days on market $189,000 Active 5 DOM
4. 2026-06-15
   days on market $189,000 Active 4 DOM
5. 2026-06-13
   days on marketlisting id $189,000 Active 2 DOM
6. 2026-06-09
   days on market $189,000 Active 6 DOM
7. 2026-06-08
   days on market $189,000 Active 5 DOM
8. 2026-06-07
   remarks 503-char remark
9. 2026-06-07
   listed $189,000 Active 4 DOM

ⓘ 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: $464 · $39/mo
• Projected year-2 tax: $1,852 · $154/mo
• Expected delta: +$1,388/yr (+$116/mo · 299.4%)

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

Taxation est. · year 1

• Rental income: $28,542
• − Mortgage interest: −$10,587
• − Property taxes: −$464
• − Insurance: −$945
• − Repairs & maintenance: −$2,283
• − Management: −$2,283
• − Depreciation: −$5,498
• Taxable income: $6,481
• Est. tax owed @ 24.0%: −$1,555
• After-tax cash flow: $7,690/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: Vancouver School District
• NCES district ID: 5309270
• Math proficiency: 43% ▬ 0.00%
• Reading proficiency: 53% ▬ 0.00%
• Median HH income: $52,562
• Composite: 43.45/100
• National rank: #6479
• State rank: #156 of 291 in WA

Livability — Minnehaha

• Score: 83/100
• State rank: #47
• US rank: #847

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Minnehaha, WA
• County: Clark County · 513,189 people
• Metro: Portland-Vancouver-Hillsboro, OR-WA
• Population (ZIP): 50,743
• Household income: $76,913
• Rent vs Own: 57.3% rent · 42.7% own
• Severe rent burden: 2384.0

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: Majority White (64%)
• Race & ethnicity: White 64% Hispanic / Latino 21% Two or more races 14% Black 4% Asian 3% Pacific Islander 2%
• Hispanic origin (detail): Mexican 18%
• Common ancestry: Lithuanian 3% Portuguese 3% Subsaharan African 3%
• Foreign-born: 15% · Canada, Vietnam
• Languages at home: 76% English-only · Spanish 14% Russian/Polish/Slavic 4% Other Indo-European 2%

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: ▼ -567.83%
• Current HPI: 308.3632
• Rent YoY: ▲ 2.05%
• 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

+293.8% since first listed

5 events — show timeline

• 2026-06-03 Listed $189,000 RMLS
• 2001-03-08 Sold (MLS) $65,000 RMLS
• 2000-12-27 Listed $66,500 RMLS
• 2000-03-16 Sold (MLS) $43,000 RMLS
• 1999-12-17 Listed $48,000 RMLS

Property tax history

-3.5%/yr

Latest (2020): $464 · +25.3% YoY. Source: county tax records.