700 NW Crosby #127 · Oak Harbor, WA 98277

$75,000

2 bd · 1.0 ba · 864 sqft · Manufactured public records · 50 Days on market

Built 1977 $87/sqft · 25% above area Est $60k · 25% over

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.9/10.0
• Livability +3.9/5.0
• Rent growth +3.8/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Don’t let the size fool you—this 2-bedroom, 1-bath manufactured home packs a whole lot of charm into a smart, easy-living layout. Immaculately maintained and truly move-in ready, this home shines with pride of ownership from the moment you step inside. The updated kitchen offers a fresh, modern feel with stylish finishes, ample cabinetry, and efficient use of space—perfect for everyday cooking or hosting a cozy dinner. The bathroom has also been thoughtfully updated, creating a clean and comfortable retreat. Both bedrooms are well-sized and filled with natural light, while the living area feels warm and inviting, making it easy to settle right in. Every corner of this home

Key facts

• Updated kitchen
• Parking
• Built 1977

Tags

• UPDATED KITCHEN
• THOUGHTFULLY UPDATED BATHROOM
• LOW-MAINTENANCE LIFESTYLE

Property features AI

Finance

• Other: Buyer brokerage compensation 4%; Bus line nearby
• Financial info: Listing terms: Cash or Conventional
• HOA & community: Parkwood Manor; Clubhouse; Playground; Park approved for sale; Land lease of $911

Exterior

• Parking: Uncovered parking; RV parking available in park
• Utilities: Electric energy; Public water; Public sewer; Puget Sound Energy power; Xfinity cable and internet
• Home design: Manufactured double-wide home; One level; Good condition; Parkway make; Mobile home remains
• Construction: Metal skirt; Metal/vinyl construction materials; Composition roof; Slab foundation with tie-downs; Manufactured after 6/15/1976
• Exterior features: Metal/vinyl exterior; Paved lot

Interior

• Kitchen: Refrigerator; Stove/Range
• Bedrooms: 2 bedrooms
• Flooring: Vinyl; Carpet
• Bathrooms: 1 three-quarter bath; 1 shower
• Heating & cooling: Forced air heating; No cooling
• Interior features: Entry; Kitchen with eating space; Living room; Utility room; Double pane windows
• Laundry & utility: Utility room (laundry space)

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $75k.

Deal economics

• At list price, monthly cash flow is $981 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $75k).
• Recommended offer: $73k (3.0% below list) — sets the bar for market timing.
• Cap rate 22.0% vs local median 2.7% in Oak Harbor — 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 77/100 on livability (#149 in WA, #3,120 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, health & safety A+, housing A; Watch: amenities D+, cost of living D+.
• Oak Harbor School District (town): math 49% / reading 61% proficiency, ranked #98 of 291 in WA (top 34%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+5.4%/yr); 277 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 71% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 402 units permitted in Island County in 2024 (54 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $519 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Island County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 5.4% rent growth), your $21k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 50 days — a 3% lower offer ($73k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $22k; list at $75k implies a 242% gain — meaningful room to come down on a strong offer.

Recommended offer $72,750 (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. Built in 1977 — 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 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?
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: 2.45% ✓
• Cap rate: 22.00%
• Cash-on-cash: 56.08%
• DSCR: 3.50
• GRM: 3.4

CMA / ARV

• ARV (median comp): $60,132
• List price: $75,000
• Delta: 24.72%
• Verdict: OVERPRICED
• Comps: 8 within 2.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
700 NW Crosby Ave #102	0.00mi	2/2.0	896 (+4%)	12mo	$65,000	$73	80
700 NW Crosby #152	0.00mi	2/2.0	924 (+7%)	23mo	$45,000	$49	66
1320 N Oak Harbor St #162	0.73mi	2/1.0	795 (-8%)	1mo	$55,000	$69	52
1320 N Oak Harbor St #165	0.73mi	2/1.0	910 (+5%)	14mo	$64,000	$70	45
1320 N Oak Harbor St #140	0.73mi	2/2.0	924 (+7%)	21mo	$53,245	$58	33
150 NE 7th Ave #8	0.74mi	2/2.0	924 (+7%)	21mo	$47,500	$51	32

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 · 5.36% rent growth · sell at horizon

5-year hold

• IRR: 57.0%
• Equity multiple: 3.61×
• Total profit: $54,826
• Equity at exit: $11,183

10-year hold

• IRR: 62.8%
• Equity multiple: 8.02×
• Total profit: $147,476
• Equity at exit: $6,485

Cash invested: $21,000 (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 98277

• Rents YoY: 5.4%
• Active inventory: 277
• Price-to-rent: 3.4×

Monthly cashflow live

• Estimated rent: $1,839 high
• Mortgage (P&I): −$393
• Tax from tax record: −$47 /mo · $559/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$386
• Net cashflow: $981

Break-even live

Break-even rent $596

Max offer price $75,000

Occupancy floor 42%

Sensitivity live

Price	-10% $1,024	-5% $1,003	+0% $981	+5% $960	+10% $939
Rent	-10% $836	-5% $909	+0% $981	+5% $1,054	+10% $1,127
Rate	-1.0pp $1,019	-0.5pp $1,001	base $981	+0.5pp $962	+1.0pp $942

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2920 Heller Rd Unit 54-O Oak Harbor, WA	1.0	1.0	600	$1,765	$2.94	21d	1	0.45mi
865 N Oak Harbor St Unit 103 Oak Harbor, WA	1.0	1.0	555	$1,450	$2.61	44d	1	0.63mi
865 N Oak Harbor St Unit 203 Oak Harbor, WA	2.0	1.0	750	$1,565	$2.09	44d	1	0.63mi
395 S Oak Harbor St Unit 207 [[?]165] Oak Harbor, WA	2.0	1.5	1000	$2,030	$2.03	44d	1	1.13mi
33010 State Route 20 Unit B Oak Harbor, WA	2.0	1.0	1100	$2,440	$2.22	44d	1	1.25mi
141 SW 6th Ave Unit D101 Oak Harbor, WA	2.0	1.5	982	$1,915	$1.95	44d	1	1.30mi
1661 NE 16th Ave Oak Harbor, WA	2.0	1.0	825	$1,840	$2.23	2d	1	1.45mi

Listing history 19 events

1. 2026-06-19
   days on market $75,000 Active 50 DOM
2. 2026-06-18
   days on market $75,000 Active 49 DOM
3. 2026-06-17
   days on market $75,000 Active 48 DOM
4. 2026-06-16
   days on market $75,000 Active 47 DOM
5. 2026-06-15
   days on market $75,000 Active 46 DOM
6. 2026-06-14
   days on market $75,000 Active 44 DOM
7. 2026-06-13
   days on market $75,000 Active 43 DOM
8. 2026-06-10
   days on market $75,000 Active 41 DOM
9. 2026-06-09
   days on market $75,000 Active 40 DOM
10. 2026-06-08
    days on market $75,000 Active 39 DOM
11. 2026-06-07
    days on market $75,000 Active 38 DOM
12. 2026-06-03
    days on market $75,000 Active 34 DOM
13. 2026-06-02
    pricedays on market $75,000 Active 33 DOM
14. 2026-06-01
    days on market $85,000 Active 32 DOM
15. 2026-05-31
    days on market $85,000 Active 31 DOM
16. 2026-05-30
    days on market $85,000 Active 30 DOM
17. 2026-04-30
    listed $85,000 Active
18. 2000-05-16
    soldstatus $21,900
19. 1998-05-28
    soldstatus $14,000

ⓘ 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: $559 · $47/mo
• Projected year-2 tax: $735 · $61/mo
• Expected delta: +$176/yr (+$15/mo · 31.6%)

ⓘ 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 2/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥78°F today · 19 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 6/10 Major 7 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,065
• − Mortgage interest: −$4,201
• − Property taxes: −$559
• − Insurance: −$375
• − Repairs & maintenance: −$1,765
• − Management: −$1,765
• − Depreciation: −$2,182
• Taxable income: $11,218
• Est. tax owed @ 24.0%: −$2,692
• After-tax cash flow: $9,086/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: Oak Harbor School District
• NCES district ID: 5305940
• Math proficiency: 49% ▲ 1.00%
• Reading proficiency: 61% ▲ 1.00%
• Median HH income: $53,606
• Composite: 49.07/100
• National rank: #4427
• State rank: #98 of 291 in WA

Livability — Oak Harbor

• Score: 77/100
• State rank: #149
• US rank: #3120

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Oak Harbor, WA
• County: Island County · 71,196 people
• City population: 40,917
• Metro: Oak Harbor, WA
• Population (ZIP): 40,917
• Household income: $83,253
• Rent vs Own: 40.3% rent · 59.7% own
• Severe rent burden: 1359.0

Population outlook (Island County) Hauer SSP2

• Today (2025): 82,019 people
• By 2030: 81,329 · -0.8%
• By 2040: 78,552 · -4.2%
• By 2050: 77,042 · -6.1%
• By 2075: 80,799 · -1.5%
• By 2100: 84,451 · +3.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (66%)
• Race & ethnicity: White 66% Two or more races 14% Hispanic / Latino 12% Asian 8% Black 4%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Portuguese 4% Slovak 3% Iranian 3%
• Foreign-born: 9% · Canada, Vietnam
• Languages at home: 87% English-only · Spanish 5% Tagalog/Filipino 4% Other Asian/Pacific 1%

Political lean MEDSL · Island

• 2024 margin: D (+16.6) · D 56.8% · R 40.3% · Other 2.9%
• 2008→2024 swing: +10.3pp toward D · 2008: 6.2pp · 2024: 16.6pp
• All cycles: 2024: D+16.6 2020: D+12.0 2016: D+5.9 2012: D+4.4 2008: D+6.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -608.47%
• Current HPI: 188.2874
• Rent YoY: ▲ 5.36%
• Metro: Oak Harbor, 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

+435.7% since first listed

4 events — show timeline

• 2026-06-01 Price Changed $75,000 NWMLS as Distributed by MLS Grid
• 2026-04-30 Listed $85,000 NWMLS as Distributed by MLS Grid
• 2000-05-16 Sold (Public Records) $21,900 Public Records
• 1998-05-28 Sold (Public Records) $14,000 Public Records

Property tax history

+12.6%/yr

Latest (2026): $559 · +4.0% YoY. Source: county tax records.