8080 NW Harborview Rd NW Unit M180 · Birch Bay, WA 98230

$32,000

2 bd · 2.0 ba · 672 sqft · Manufactured public records · 60 Days on market

Built 1968 $48/sqft · 77% below area ↓ 19% 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 +15.0/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +4.7/10.0
• Rent growth +3.3/5.0
• Livability +3.1/5.0
• Condition / age +2.5/5.0

Listing remarks

All offers are considered! FIRST MONTHS RENT PAID BY SELLER! Home in Birch Bay Resort offers great comfort and potential. Several important updates have been completed over the years, including roof and windows replaced in 2011, updated electrical in 2011, a newer hot water heater in 2018, and plumbing updates in 2019. Inside you'll find 3 bedrooms and 2 bathrooms, a kitchen with generous cabinet space, and a covered porch with partial bay view- a relaxing spot to enjoy the coastal air. Appliances stay, including the refrigerator and range/oven. There are two bathrooms one is not finished and will be sold as is. There are two parking spots one in front of the home and one by the enclosed p

Key facts

• 2 parking spots
• Built 1968
• Listed 60 days

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $32k.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $32k).
• Recommended offer: $31k (3.0% below list) — sets the bar for market timing.
• Cap rate 56.2% vs local median 2.6% in Birch Bay — 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 62/100 on livability (#406 in WA) — a middle-class / working-renter tenant base. Strengths: housing A; Watch: cost of living D+, health & safety D, schools F.
• Blaine School District (town): math 49% / reading 55% proficiency, ranked #120 of 291 in WA (top 41%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+3.1%/yr); 454 active listings in the ZIP; solid renter incomes; 1,190 units permitted in Whatcom County in 2024 (327 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($221 loan paydown + $3k appreciation (10.0% local appreciation)).
• Whatcom County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 3.1% rent growth), your $9k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 60 days — a 3% lower offer ($31k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 6y ago; this cycle's ask has dropped $4k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $31,040 (3.0% below list)

Questions for the listing agent

1. It's been on market 60 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1968 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. 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.
6. 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.
7. 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: 6.06% ✓
• Cap rate: 56.22%
• Cash-on-cash: 178.31%
• DSCR: 8.93
• GRM: 1.4

CMA / ARV

• ARV (median comp): $154,755
• List price: $32,000
• Delta: -79.32%
• Verdict: UNDERPRICED
• Comps: 14 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8080 Harborview Rd Unit F54	0.18mi	2/1.0	684 (+2%)	13mo	$30,000	$44	74
7954 Birch bay Dr #32	0.06mi	3/1.5 (+1)	672 (0%)	20mo	$84,000	$125	73
8080 Harborview Rd Unit F56	0.18mi	2/2.0	720 (+7%)	12mo	$80,000	$111	70
4751 Birch Bay Lynden Rd #86	0.30mi	2/1.0	650 (-3%)	13mo	$270,000	$415	66
8080 Harborview Rd Unit M192	0.04mi	2/1.0	728 (+8%)	19mo	$61,000	$84	65
8080 Harborview Rd Unit M176	0.02mi	1/1.0 (-1)	610 (-9%)	22mo	$160,000	$262	57
7954 Birch Bay Dr #22	0.06mi	2/1.0	576 (-14%)	24mo	$122,500	$213	50
4751 Birch Bay Lynden Rd #236	0.28mi	1/1.0 (-1)	580 (-14%)	13mo	$240,000	$414	44
5028 Maple St	0.70mi	2/1.0	576 (-14%)	0mo	$159,000	$276	39

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.1% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 12.43×
• Total profit: $102,436
• Equity at exit: $28,828

10-year hold

• IRR: —
• Equity multiple: 27.27×
• Total profit: $235,403
• Equity at exit: $62,169

Cash invested: $8,960 (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 98230

• Home prices YoY: 14.0%
• Rents YoY: 3.1%
• Active inventory: 454
• Price-to-rent: 1.4×

Monthly cashflow live

• Estimated rent: $1,939 medium
• Mortgage (P&I): −$168
• Tax from tax record: −$19 /mo · $228/yr
• Insurance: −$13
• HOA: −$0
• Vacancy / Maint / Mgmt: −$407
• Net cashflow: $1,331

Break-even live

Break-even rent $253

Max offer price $32,000

Occupancy floor 26%

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: $8,000
• Closing costs: $960
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-18
   days on market $32,000 Active 60 DOM
2. 2026-06-17
   days on market $32,000 Active 59 DOM
3. 2026-06-16
   days on market $32,000 Active 58 DOM
4. 2026-06-15
   days on market $32,000 Active 57 DOM
5. 2026-06-14
   days on market $32,000 Active 55 DOM
6. 2026-06-13
   days on market $32,000 Active 54 DOM
7. 2026-06-10
   remarks 699-char remark
8. 2026-06-10
   pricedays on market $32,000 Active 52 DOM
9. 2026-06-07
   days on market $33,900 Active 51 DOM
10. 2026-06-05
    days on market $33,900 Active 48 DOM
11. 2026-06-02
    days on market $33,900 Active 46 DOM
12. 2026-06-01
    days on market $33,900 Active 45 DOM
13. 2026-05-31
    days on market $33,900 Active 44 DOM
14. 2026-05-30
    days on market $33,900 Active 43 DOM
15. 2026-04-08
    listed $36,000 Active
16. 2020-03-31
    soldstatus $30,000 Sold
17. 2020-03-15
    status Pending
18. 2020-03-11
    price $34,500
19. 2020-02-27
    listed $44,500 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: $228 · $19/mo
• Projected year-2 tax: $314 · $26/mo
• Expected delta: +$86/yr (+$7/mo · 37.6%)

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥81°F today · 19 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 6/10 Major 7 unhealthy d/yr today · 10 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,264
• − Mortgage interest: −$1,792
• − Property taxes: −$228
• − Insurance: −$160
• − Repairs & maintenance: −$1,861
• − Management: −$1,861
• − Depreciation: −$931
• Taxable income: $16,430
• Est. tax owed @ 24.0%: −$3,943
• After-tax cash flow: $12,033/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: Blaine School District
• NCES district ID: 5300570
• Math proficiency: 49% ▼ -1.00%
• Reading proficiency: 55% ▼ -2.00%
• Median HH income: $57,085
• Composite: 47.05/100
• National rank: #5128
• State rank: #120 of 291 in WA

Livability — Birch Bay

• Score: 62/100
• State rank: #406
• US rank: #16180

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Birch Bay, WA
• County: Whatcom County · 209,776 people
• Metro: Bellingham, WA
• Population (ZIP): 18,744
• Household income: $86,623
• Rent vs Own: 20.4% rent · 79.6% own
• Severe rent burden: 454.0

Population outlook (Whatcom County) Hauer SSP2

• Today (2025): 240,408 people
• By 2030: 254,667 · +5.9%
• By 2040: 281,365 · +17.0%
• By 2050: 307,592 · +27.9%
• By 2075: 375,576 · +56.2%
• By 2100: 421,637 · +75.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (77%)
• Race & ethnicity: White 77% Two or more races 11% Hispanic / Latino 9% Asian 3% Pacific Islander 2% Black 1%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Portuguese 6% Iranian 4% Lithuanian 3%
• Foreign-born: 13% · Canada, China
• Languages at home: 89% English-only · Spanish 4% Russian/Polish/Slavic 1% Other Indo-European 1%

Political lean MEDSL · Whatcom

• 2024 margin: Strong D (+24.9) · D 60.8% · R 35.9% · Other 3.3%
• 2008→2024 swing: +6.9pp toward D · 2008: 18.0pp · 2024: 24.9pp
• All cycles: 2024: D+24.9 2020: D+23.9 2016: D+17.7 2012: D+12.1 2008: D+18.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 106.58%
• Current HPI: 868.68
• Rent YoY: ▲ 3.10%
• Metro: Bellingham, 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

-19.1% since first listed

5 events — show timeline

• 2026-04-08 Listed $36,000 NWMLS as Distributed by MLS Grid
• 2020-03-31 Sold (MLS) $30,000 NWMLS as Distributed by MLS Grid
• 2020-03-15 Pending — NWMLS as Distributed by MLS Grid
• 2020-03-11 Price Changed $34,500 NWMLS as Distributed by MLS Grid
• 2020-02-27 Listed $44,500 NWMLS as Distributed by MLS Grid

Property tax history

+16.7%/yr

Latest (2023): $228 · +916.4% YoY. Source: county tax records.