3777 Addy St #2 · Washougal, WA 98671

$125,000

2 bd · 2.0 ba · 1,142 sqft · Manufactured public records · 50 Days on market

Built 1992 $109/sqft · 9% below area Est $137k · 9% 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 +11.5/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +5.3/10.0
• Livability +4.2/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming one-level manufactured home in quiet, family friendly community. Spacious & well-maintained w/loads of potential to update & make your own. Fully equipped kitchen w/abundant cabinetry, peninsula eat-bar, built-in desk, & opens to dining room. Master suite has double closet & private bath w/dual-sink vanity, soaking tub, & step-in shower. Peaceful outdoor space w/tidy, mature landscape & wrap-around deck - perfect for morning coffee. Easy fwy access, near the scenic Columbia River gorge.

Key facts

• Tandoor oven
• Tool shed
• Single-level home

Tags

• SINGLE-LEVEL HOME
• CUSTOM-BUILT PIZZA OVEN
• TANDOOR OVEN
• TOOL SHED
• SEPARATE WORKSHOP
• MATURE LANDSCAPING

Property features AI

Finance

• Other: Park zoning R1-5
• Financial info: Land lease expires January 1, 2027
• HOA & community: Located in North Shore Estates (land lease community); Land lease applies (monthly lot rent); Senior community: No

Exterior

• Parking: Carport (1 space)
• Utilities: Public water; Public sewer; Electricity for fuel and hot water; Cable internet available
• Home design: Manufactured home in park; Residential property; Single-level (one level); Built in 1992; No notable view
• Construction: Composition roof; Crawl space foundation; Built in 1992
• Exterior features: Deck; Fenced yard; Public road access; Tool shed; Workshop; Yard; Paved road surface; Level lot

Interior

• Kitchen: Dishwasher; Disposal; Free-standing range; Free-standing refrigerator; Microwave; Pantry; Electric hot water
• Bedrooms: Primary bedroom on main; Second bedroom on main
• Flooring: Vinyl; Wall-to-wall carpet
• Bathrooms: 2 full bathrooms (both on the main level)
• Heating & cooling: Heat pump heating; Central air conditioning; Heat pump cooling
• Interior features: Ceiling fan(s); Laundry area; Vinyl flooring; Wall-to-wall carpet; Washer and dryer included; Vinyl window frames; Crawl space; Built-in lighting; Natural lighting; One-level living; Utility room on main; Walk-in shower; Garage on main; Main floor bedroom with bath
• Laundry & utility: Laundry on main; Washer and dryer included

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $125k.

Deal economics

• At list price, monthly cash flow is $815 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Recommended offer: $121k (3.0% below list) — sets the bar for market timing.
• Cap rate 14.1% vs local median 1.7% in Washougal — 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 84/100 on livability (#42 in WA, #742 nationally) — a professional / high-income tenant draw. Strengths: employment A+, housing A+, health & safety A+; Watch: amenities D+, cost of living F.
• Washougal School District (suburban): math 53% / reading 64% proficiency, ranked #59 of 291 in WA (top 20%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Columbia River Gorge Elementary School (339 students, 43% FRL); Jemtegaard Middle School (439 students, 48% FRL); Washougal High School (1,006 students, 38% FRL).
• Market conditions: Rents rising (+3.7%/yr); 275 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 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 $864 of loan paydown is wiped out by about $4k 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 + 3.7% rent growth), your $35k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 50 days — a 3% lower offer ($121k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 20y ago; this cycle's ask has dropped $10k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $75k; list at $125k implies a 67% gain — meaningful room to come down on a strong offer.

Recommended offer $121,250 (3.0% below list)

Questions for the listing agent

1. It's been on market 50 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 1.58% ✓
• Cap rate: 14.12%
• Cash-on-cash: 27.95%
• DSCR: 2.24
• GRM: 5.3

CMA / ARV

• ARV (median comp): $137,043
• List price: $125,000
• Delta: -8.79%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3777 Addy St #33	0.00mi	3/2.0 (+1)	1,197 (+5%)	10mo	$128,000	$107	78
3777 Addy St #4	0.00mi	3/2.0 (+1)	1,200 (+5%)	10mo	$150,000	$125	78
3777 Addy St #18	0.00mi	3/2.0 (+1)	1,101 (-4%)	20mo	$146,000	$133	73
3820 Addy St	0.10mi	3/2.0 (+1)	1,080 (-5%)	11mo	$50,000	$46	72
3777 Addy St #54	0.00mi	3/2.0 (+1)	1,252 (+10%)	17mo	$135,000	$108	64
4501 Addy St #16	0.46mi	3/2.0 (+1)	1,248 (+9%)	10mo	$190,708	$153	50

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 · 3.7% rent growth · sell at horizon

5-year hold

• IRR: 22.8%
• Equity multiple: 1.94×
• Total profit: $33,023
• Equity at exit: $18,638

10-year hold

• IRR: 31.2%
• Equity multiple: 3.89×
• Total profit: $101,262
• Equity at exit: $10,808

Cash invested: $35,000 (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 98671

• Rents YoY: 3.7%
• Active inventory: 275
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $1,974 high
• Mortgage (P&I): −$656
• Tax from tax record: −$36 /mo · $437/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$414
• Net cashflow: $815

Break-even live

Break-even rent $942

Max offer price $125,000

Occupancy floor 54%

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4290 Addy St Washougal, WA	2.0	1.0	725	$1,374	$1.90	1d	7	0.32mi
3381 Lewis Ln Washougal, WA	2.0	2.5	980	$2,195	$2.24	1d	1	0.33mi
3337 Lewis Ln Washougal, WA	2.0	2.5	981	$2,195	$2.24	43d	1	0.33mi
3251 Lewis Ln Washougal, WA	2.0	2.5	992	$2,095	$2.11	1d	1	0.42mi
3108 H St Apt 3 Washougal, WA	2.0	1.5	950	$1,450	$1.53	1d	1	0.60mi
4694 Rolling Meadows Dr Washougal, WA	3.0	2.0	1358	$2,900	$2.14	14d	1	0.90mi
2300 Main St Washougal, WA	2.0	2.0	1080	$1,845	$1.71	1d	10	0.99mi
1625 Main St Washougal, WA	1.0	1.0	662	$2,150	$3.25	1d	4	1.28mi
1628 G St Washougal, WA	2.0	1.0	900	$1,595	$1.77	43d	1	1.35mi
1506 G St Washougal, WA	2.0	1.0	900	$1,925	$2.14	43d	1	1.40mi
740 15th St Washougal, WA	2.0	1.0	800	$1,700	$2.12	23d	1	1.41mi

Listing history 23 events

1. 2026-06-18
   days on market $125,000 Active 50 DOM
2. 2026-06-17
   days on market $125,000 Active 49 DOM
3. 2026-06-16
   days on market $125,000 Active 48 DOM
4. 2026-06-15
   days on market $125,000 Active 47 DOM
5. 2026-06-13
   days on market $125,000 Active 45 DOM
6. 2026-06-09
   days on market $125,000 Active 41 DOM
7. 2026-06-08
   days on market $125,000 Active 40 DOM
8. 2026-06-07
   days on market $125,000 Active 39 DOM
9. 2026-06-05
   days on market $125,000 Active 36 DOM
10. 2026-06-03
    days on market $125,000 Active 35 DOM
11. 2026-06-02
    days on market $125,000 Active 34 DOM
12. 2026-06-01
    days on market $125,000 Active 33 DOM
13. 2026-05-31
    days on market $125,000 Active 32 DOM
14. 2026-05-14
    price $125,000 1469-char remark
15. 2026-04-29
    listed $135,000 Active 1469-char remark
16. 2020-11-10
    soldstatus $75,000 Sold 524-char remark

    Show marketing remark (524 chars)

    Charming one-level manufactured home in quiet, family friendly community. Spacious & well-maintained w/loads of potential to update & make your own. Fully equipped kitchen w/abundant cabinetry, peninsula eat-bar, built-in desk, & opens to dining room. Master suite has double closet & private bath w/dual-sink vanity, soaking tub, & step-in shower. Peaceful outdoor space w/tidy, mature landscape & wrap-around deck - perfect for morning coffee. Easy fwy access, near the scenic Columbia River gorge.

17. 2020-10-27
    status Pending 524-char remark

    Show marketing remark (524 chars)

    Charming one-level manufactured home in quiet, family friendly community. Spacious & well-maintained w/loads of potential to update & make your own. Fully equipped kitchen w/abundant cabinetry, peninsula eat-bar, built-in desk, & opens to dining room. Master suite has double closet & private bath w/dual-sink vanity, soaking tub, & step-in shower. Peaceful outdoor space w/tidy, mature landscape & wrap-around deck - perfect for morning coffee. Easy fwy access, near the scenic Columbia River gorge.

18. 2020-10-15
    listed $90,000 Active 524-char remark

    Show marketing remark (524 chars)

    Charming one-level manufactured home in quiet, family friendly community. Spacious & well-maintained w/loads of potential to update & make your own. Fully equipped kitchen w/abundant cabinetry, peninsula eat-bar, built-in desk, & opens to dining room. Master suite has double closet & private bath w/dual-sink vanity, soaking tub, & step-in shower. Peaceful outdoor space w/tidy, mature landscape & wrap-around deck - perfect for morning coffee. Easy fwy access, near the scenic Columbia River gorge.

19. 2006-04-11
    soldstatus $41,100

    Show marketing remark (292 chars)

    1992 Nashua Castlewood. New interior paint & window coverings. Excellent condition! Roomy kitchen w/a lot of cabinet space, vaulted ceilings, neutral colors, large utility/laundry room. 281 SqFt front deck. 8x6 storage shed. Cladwood siding. Move in condition! Brand new hot water heater.

20. 2006-04-11
    soldstatus $41,100

    Show marketing remark (292 chars)

    1992 Nashua Castlewood. New interior paint & window coverings. Excellent condition! Roomy kitchen w/a lot of cabinet space, vaulted ceilings, neutral colors, large utility/laundry room. 281 SqFt front deck. 8x6 storage shed. Cladwood siding. Move in condition! Brand new hot water heater.

21. 2006-02-25
    historical

    Show marketing remark (292 chars)

    1992 Nashua Castlewood. New interior paint & window coverings. Excellent condition! Roomy kitchen w/a lot of cabinet space, vaulted ceilings, neutral colors, large utility/laundry room. 281 SqFt front deck. 8x6 storage shed. Cladwood siding. Move in condition! Brand new hot water heater.

22. 2006-02-09
    listed $44,900

    Show marketing remark (292 chars)

    1992 Nashua Castlewood. New interior paint & window coverings. Excellent condition! Roomy kitchen w/a lot of cabinet space, vaulted ceilings, neutral colors, large utility/laundry room. 281 SqFt front deck. 8x6 storage shed. Cladwood siding. Move in condition! Brand new hot water heater.

23. 2006-02-09
    listed $44,900

    Show marketing remark (292 chars)

    1992 Nashua Castlewood. New interior paint & window coverings. Excellent condition! Roomy kitchen w/a lot of cabinet space, vaulted ceilings, neutral colors, large utility/laundry room. 281 SqFt front deck. 8x6 storage shed. Cladwood siding. Move in condition! Brand new hot water heater.

ⓘ 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: $437 · $36/mo
• Projected year-2 tax: $1,225 · $102/mo
• Expected delta: +$788/yr (+$66/mo · 180.3%)

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

Taxation est. · year 1

• Rental income: $23,685
• − Mortgage interest: −$7,002
• − Property taxes: −$437
• − Insurance: −$625
• − Repairs & maintenance: −$1,895
• − Management: −$1,895
• − Depreciation: −$3,636
• Taxable income: $8,195
• Est. tax owed @ 24.0%: −$1,967
• After-tax cash flow: $7,816/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: Washougal School District
• NCES district ID: 5309540
• Math proficiency: 53% ▼ -2.00%
• Reading proficiency: 64% ▼ -2.00%
• Median HH income: $68,134
• Composite: 53.22/100
• National rank: #3195
• State rank: #59 of 291 in WA

Livability — Washougal

• Score: 84/100
• State rank: #42
• US rank: #742

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Washougal, WA
• County: Clark County · 513,189 people
• City population: 24,871
• Metro: Portland-Vancouver-Hillsboro, OR-WA
• Population (ZIP): 24,871
• Household income: $111,545
• Rent vs Own: 23.5% rent · 76.5% own
• Severe rent burden: 382.0

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: Predominantly White (82%)
• Race & ethnicity: White 82% Hispanic / Latino 10% Two or more races 9% Asian 2%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Portuguese 5% Italian 3% Lithuanian 3%
• Foreign-born: 4% · Canada, China
• Languages at home: 91% English-only · Spanish 6% Chinese 1% Russian/Polish/Slavic 1%

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: ▼ -418.85%
• Current HPI: 315.8635
• Rent YoY: ▲ 3.70%
• 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

+178.4% since first listed

10 events — show timeline

• 2026-05-14 Price Changed $125,000 RMLS
• 2026-04-29 Listed $135,000 RMLS
• 2020-11-10 Sold (MLS) $75,000 RMLS
• 2020-10-27 Pending — RMLS
• 2020-10-15 Listed $90,000 RMLS
• 2006-04-11 Sold (MLS) $41,100 NWMLS as Distributed by MLS Grid
• 2006-04-11 Sold (MLS) $41,100 RMLS
• 2006-02-25 Delisted — RMLS
• 2006-02-09 Listed $44,900 NWMLS as Distributed by MLS Grid
• 2006-02-09 Listed $44,900 RMLS

Property tax history

+3.3%/yr

Latest (2026): $437 · +61.2% YoY. Source: county tax records.