547 SW Rock Creek Dr

Stevenson, WA 98648

$540,000D

3 bd · 2.0 ba · 1,491 sqft · Built 2007 · SingleFamily · Active · 71 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,700/mo
• Mortgage (P&I): −$2,832
• Tax + insurance: −$590
• HOA: −$0
• Vac / Maint / Mgmt: −$567
• Net cashflow: $-1,289/mo
• Annual: $-15,467/yr
• Cap rate: 3.55%
• Cash-on-cash: -9.79%
• DSCR: 0.56
• 1% rule: 0.50%
• Cash to close: $151,200

Investor read

• This is a 3-bed/2.0-bath single-family listed at $540k.
• 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).
• It's been on market 71 days — a 6% lower offer ($508k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $270k (50.0% below list) — sets the bar for 1% rule.
• In year one you build about $58k of equity ($4k loan paydown + $54k appreciation (10.0% local appreciation)).
• 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.
• Watch-outs: flood insurance adds $56/mo.
• 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).
• 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.
• By year 2, paydown + projected appreciation supports a ~$93k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe flood risk; moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• 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?
• 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?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.