547 SW Rock Creek Dr · Stevenson, WA 98648

$540,000

3 bd · 2.0 ba · 1,491 sqft · SingleFamily public records · 71 Days on market

Built 2007 10,454 sqft lot $362/sqft · 8% below area Est $608k · 11% under

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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).

• ARV discount +12.5/15.0
• Appreciation +10.0/10.0
• Cash flow +5.2/30.0
• Schools +3.8/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0

Listing remarks MLS

Most Gorge properties come with a tradeoff — breathtaking surroundings, miles from everything. This one doesn’t.Set in the heart of downtown Stevenson, this 3-bed, 2.5-bath home puts you steps from Rock Cove across the street, local dining, iconic waterfall trails, and the world-class Skamania Lodge spa. Come July 4th, you’ve got the best seat in town!Built in 2007 on a quarter-acre lot, the two-story layout is move-in ready with a 2-car garage and room to make it your own. Whether you’re planting roots, seeking a Pacific Northwest retreat, or chasing everything the Gorge delivers — rivers, trails, windsurfing, and scenery that draws people from across the country — you won’t have to choose between adventure and convenience.45 minutes from Portland. A world away from ordinary.

Key facts

• Move-in ready
• Two-story home
• Downtown stevenson

Tags

• COLUMBIA RIVER GORGE
• DOWNTOWN STEVENSON
• ROCK COVE
• MANAGEABLE QUARTER-ACRE LOT
• TWO-STORY HOME
• MOVE-IN READY

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $540k.

Deal economics

• At list price, monthly cash flow is $-1k ($-15k/yr) — negative.
• To cash-flow at today's rent, offer at most $312k (42.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $270k (50.0% below list).
• Recommended offer: $270k (50.0% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 74/100 on livability (#179 in WA, #4,705 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, health & safety A+, housing A-; Watch: schools C-, cost of living C-, amenities F.
• Stevenson-Carson School District (rural): math 32% / reading 51% proficiency, ranked #209 of 291 in WA (top 72%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 53 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 34 units permitted in Skamania County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $58k of equity ($4k loan paydown + $54k appreciation (10.0% local appreciation)).
• By year 2, paydown + projected appreciation supports a ~$93k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 71 days — a 6% lower offer ($508k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 18y 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 $384k; 41% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo.
• Climate carrying-cost: severe flood risk; moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $270,000 (50.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 71 days. Have you received any prior offers? Is the seller open to a 50% concession, seller financing, or rate buy-down credit?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 0.50% ✗
• Cap rate: 3.55%
• Cash-on-cash: -9.79%
• DSCR: 0.56
• GRM: 16.7

CMA / ARV

• ARV (median comp): $607,500
• List price: $540,000
• Delta: -11.11%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
909 NW Nicklaus Ct	0.39mi	3/2.0	1,414 (-5%)	24mo	$640,000	$453	53
477 NW Chesser Rd	0.48mi	3/1.0	1,425 (-4%)	23mo	$437,500	$307	48
475 NW Frank Johns Rd	0.63mi	3/1.0	1,518 (+2%)	20mo	$355,000	$234	47
890 NW First Falls View Rd	0.47mi	3/2.0	1,704 (+14%)	22mo	$655,000	$384	36
1235 NW Red Hawk Ct	0.69mi	3/2.0	1,654 (+11%)	23mo	$600,000	$363	30

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 17.1%
• Equity multiple: 2.40×
• Total profit: $211,858
• Equity at exit: $486,475

10-year hold

• IRR: 16.2%
• Equity multiple: 5.55×
• Total profit: $688,144
• Equity at exit: $1,049,101

Cash invested: $151,200 (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 98648

• Home prices YoY: 3.4%
• Active inventory: 53
• Price-to-rent: 16.7×

Monthly cashflow live

• Estimated rent: $2,700 medium
• Mortgage (P&I): −$2,832
• Tax from tax record: −$310 /mo · $3,714/yr
• Insurance: −$225
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$567
• Net cashflow: $-1,289

Break-even live

Break-even rent $4,332

Max offer price $312,310

Occupancy floor —

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: $135,000
• Closing costs: $16,200
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
230 SW Atwell Rd Stevenson, WA	2.0	1.0	1184	$2,700	$2.28	2d	1	0.49mi

Listing history 23 events

1. 2026-06-18
   days on market $540,000 Active 71 DOM
2. 2026-06-17
   days on market $540,000 Active 70 DOM
3. 2026-06-16
   days on market $540,000 Active 69 DOM
4. 2026-06-15
   days on market $540,000 Active 68 DOM
5. 2026-06-15
   days on market $540,000 Active 67 DOM
6. 2026-06-13
   days on market $540,000 Active 66 DOM
7. 2026-06-12
   days on market $540,000 Active 65 DOM
8. 2026-06-09
   days on market $540,000 Active 62 DOM
9. 2026-06-08
   days on market $540,000 Active 61 DOM
10. 2026-06-08
    days on market $540,000 Active 60 DOM
11. 2026-06-07
    days on market $540,000 Active 59 DOM
12. 2026-06-03
    days on market $540,000 Active 56 DOM
13. 2026-06-02
    days on market $540,000 Active 55 DOM
14. 2026-06-01
    days on market $540,000 Active 54 DOM
15. 2026-05-31
    days on market $540,000 Active 53 DOM
16. 2026-04-08
    listed $540,000 Active 829-char remark

    Show marketing remark (829 chars)

    Most Gorge properties come with a tradeoff — breathtaking surroundings, miles from everything. This one doesn’t.Set in the heart of downtown Stevenson, this 3-bed, 2.5-bath home puts you steps from Rock Cove across the street, local dining, iconic waterfall trails, and the world-class Skamania Lodge spa. Come July 4th, you’ve got the best seat in town!Built in 2007 on a quarter-acre lot, the two-story layout is move-in ready with a 2-car garage and room to make it your own. Whether you’re planting roots, seeking a Pacific Northwest retreat, or chasing everything the Gorge delivers — rivers, trails, windsurfing, and scenery that draws people from across the country — you won’t have to choose between adventure and convenience.45 minutes from Portland. A world away from ordinary.

17. 2020-08-12
    soldstatus $384,000 Sold 516-char remark

    Show marketing remark (516 chars)

    Located close to downtown essentials & parks, this meticulously maintained home is ready for its next owner! The open concept main level features wood floors, vaulted ceilings, and a gas fireplace in the living area. Stainless appliances, pantry, and island in the kitchen. Office, 1/2 bath and a dining area with a sliding glass door leading to the covered patio & pristine fenced yard. The upper level features the master suite with walk-in closet & bathroom, 2 bedrooms, bathroom & laundry closet.

18. 2020-06-19
    status Pending 516-char remark

    Show marketing remark (516 chars)

    Located close to downtown essentials & parks, this meticulously maintained home is ready for its next owner! The open concept main level features wood floors, vaulted ceilings, and a gas fireplace in the living area. Stainless appliances, pantry, and island in the kitchen. Office, 1/2 bath and a dining area with a sliding glass door leading to the covered patio & pristine fenced yard. The upper level features the master suite with walk-in closet & bathroom, 2 bedrooms, bathroom & laundry closet.

19. 2020-06-10
    listed $389,000 Active 516-char remark

    Show marketing remark (516 chars)

    Located close to downtown essentials & parks, this meticulously maintained home is ready for its next owner! The open concept main level features wood floors, vaulted ceilings, and a gas fireplace in the living area. Stainless appliances, pantry, and island in the kitchen. Office, 1/2 bath and a dining area with a sliding glass door leading to the covered patio & pristine fenced yard. The upper level features the master suite with walk-in closet & bathroom, 2 bedrooms, bathroom & laundry closet.

20. 2009-08-06
    soldstatus $195,000
21. 2009-08-06
    soldstatus $195,000
22. 2009-04-30
    historical
23. 2008-12-19
    listed $199,000

ⓘ 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: $3,714 · $310/mo
• Projected year-2 tax: $5,292 · $441/mo
• Expected delta: +$1,578/yr (+$131/mo · 42.5%)

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

Climate risk First Street

• 🌊 Flood 10/10 Extreme FEMA zone X · 99% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 3/10 Moderate 8 d/yr ≥92°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 9/10 Extreme 11 unhealthy d/yr today · 13 by 30 yrs out

Taxation est. · year 1

• Rental income: $32,400
• − Mortgage interest: −$30,248
• − Property taxes: −$3,714
• − Insurance: −$3,366
• − Repairs & maintenance: −$2,592
• − Management: −$2,592
• − Depreciation: −$15,709
• Taxable loss: −$25,822
• Est. tax savings @ 24.0%: +$6,197
• After-tax cash flow: $-9,269/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: Stevenson-Carson School District
• NCES district ID: 5308520
• Math proficiency: 32% ▼ -1.00%
• Reading proficiency: 51% ▲ 10.00%
• Median HH income: $46,512
• Composite: 37.73/100
• National rank: #8766
• State rank: #209 of 291 in WA

Livability — Stevenson

• Score: 74/100
• State rank: #179
• US rank: #4705

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Stevenson, WA
• Population (ZIP): 3,353

Population outlook (Skamania County) Hauer SSP2

• Today (2025): 11,886 people
• By 2030: 12,036 · +1.3%
• By 2040: 11,995 · +0.9%
• By 2050: 11,607 · -2.3%
• By 2075: 10,881 · -8.5%
• By 2100: 10,392 · -12.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Hispanic / Latino 5% Two or more races 4% Asian 1%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Slovak 5% Portuguese 4% Serbian 3%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Spanish 3% Other Indo-European 1% Other Asian/Pacific 1%

Political lean MEDSL · Skamania

• 2024 margin: R (+11.1) · D 43.0% · R 54.2% · Other 2.8%
• 2008→2024 swing: -16.5pp toward R · 2008: 5.3pp · 2024: -11.1pp
• All cycles: 2024: R+11.1 2020: R+9.5 2016: R+12.6 2012: R+1.3 2008: D+5.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 10.97%
• Current HPI: 333.2329
• Rent YoY: —
• Metro: —
• 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

+171.4% since first listed

8 events — show timeline

• 2026-04-08 Listed $540,000 RMLS
• 2020-08-12 Sold (MLS) $384,000 RMLS
• 2020-06-19 Pending — RMLS
• 2020-06-10 Listed $389,000 RMLS
• 2009-08-06 Sold (Public Records) $195,000 Public Records
• 2009-08-06 Sold (MLS) $195,000 RMLS
• 2009-04-30 Delisted — RMLS
• 2008-12-19 Listed $199,000 RMLS

Property tax history

+5.9%/yr

Latest (2026): $3,714 · +8.4% YoY. Source: county tax records.