13401 NE 28th St #217 · Vancouver, WA 98682

$75,000

2 bd · 1.0 ba · 684 sqft · Manufactured public records · 66 Days on market

Built 1972 $110/sqft · 7% above area Est $70k · 7% over $800/mo HOA · 47% of rent

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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 +21.6/30.0
• 1% rule +10.0/10.0
• DSCR +6.9/10.0
• ARV discount +4.3/15.0
• Schools +4.3/10.0
• Livability +4.1/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming and well-kept home located in a sought-after all-ages community! This 2-bedroom, 1-bath residence offers 684 sq ft of thoughtfully designed living space. Inside, you’ll find a practical kitchen, dedicated dining area, and the convenience of in-home laundry. The layout is efficient and filled with natural light, creating a bright and welcoming feel throughout. Enjoy a low-maintenance lifestyle in a prime location just minutes from shopping, dining, and daily essentials. An excellent opportunity for affordable homeownership.

Key facts

• In-home laundry
• Practical kitchen
• Prime location

Tags

• PRACTICAL KITCHEN
• DEDICATED DINING AREA
• IN-HOME LAUNDRY
• LOW-MAINTENANCE LIFESTYLE
• PRIME LOCATION

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 $113 ($1k/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: $70k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.1% vs local median 2.7% in Vancouver — 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 82/100 on livability (#62 in WA, #1,133 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, housing A+; Watch: crime F, cost of living D-.
• Evergreen School District (Clark) (urban): math 41% / reading 51% proficiency, ranked #164 of 291 in WA (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents flat; 463 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 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 $519 of loan paydown is wiped out by about $2k 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.

Negotiation context

• It's been on market 66 days — a 6% lower offer ($70k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 47% of rent.

Recommended offer $70,500 (6.0% below list)

Questions for the listing agent

1. It's been on market 66 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 2.28% ✓
• Cap rate: 8.11%
• Cash-on-cash: 6.48%
• DSCR: 1.29
• GRM: 3.7

CMA / ARV

• ARV (median comp): $69,991
• List price: $75,000
• Delta: 7.16%
• Verdict: FAIR
• Comps: 2 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
13401 NE 28th St Unit 309-A	0.00mi	2/1.0	690 (+1%)	20mo	$110,800	$161	82
13401 NE 28th St #210	0.00mi	2/1.0	720 (+5%)	12mo	$70,000	$97	81
13401 NE 28 St #215	0.00mi	2/1.0	778 (+14%)	3mo	$70,000	$90	75

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 · 0.63% rent growth · sell at horizon

5-year hold

• IRR: -11.6%
• Equity multiple: 0.60×
• Total profit: $-8,451
• Equity at exit: $11,183

10-year hold

• IRR: -12.3%
• Equity multiple: 0.44×
• Total profit: $-11,754
• 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 98682

• Rents YoY: 0.6%
• Active inventory: 463
• Price-to-rent: 3.7×

Monthly cashflow live

• Estimated rent: $1,710 high
• Mortgage (P&I): −$393
• Tax from tax record: −$13 /mo · $160/yr
• Insurance: −$31
• HOA: −$800
• Vacancy / Maint / Mgmt: −$359
• Net cashflow: $113

Break-even live

Break-even rent $1,567

Max offer price $75,000

Occupancy floor 88%

Sensitivity live

Price	-10% $156	-5% $135	+0% $113	+5% $92	+10% $-19
Rent	-10% $-22	-5% $46	+0% $113	+5% $181	+10% $248
Rate	-1.0pp $151	-0.5pp $132	base $113	+0.5pp $94	+1.0pp $74

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 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
13609 NE 28th St Vancouver, WA	2.0	1.0	750	$1,400	$1.87	44d	1	0.20mi
12901 NE 28th St Vancouver, WA	1.0–2.0	1.0	824	$1,934	$2.35	2d	10	0.21mi
12101 NE 28th St Vancouver, WA	1.0–2.0	1.0–2.0	806	$2,086	$2.59	3d	13	0.59mi
1330 NE 136th Ave Vancouver, WA	1.0–3.0	1.0–2.0	1016	$2,015	$1.98	3d	15	0.59mi
2201 NE 112th Ave Vancouver, WA	1.0	1.0	713	$1,575	$2.21	13d	1	1.02mi
2201 NE 112th Ave Vancouver, WA	1.0	1.0	713	$1,565	$2.19	44d	1	1.02mi
2201 NE 112th Ave Vancouver, WA	1.0–3.0	1.0–2.0	935	$1,846	$1.97	5d	1	1.02mi
1900 NE 113th Ct Vancouver, WA	1.0–2.0	1.0–2.0	887	$1,777	$2.00	2d	6	1.04mi
2400 NE 112th Ave Vancouver, WA	1.0–2.0	1.0	435	$1,395	$3.20	15d	6	1.08mi
1618 NE 112th Ave Vancouver, WA	1.0	1.0	588	$1,504	$2.56	3d	3	1.20mi
4905 NE 122nd Ave Vancouver, WA	1.0	1.0	684	$1,500	$2.19	8d	1	1.25mi
333 NE 136th Ave Vancouver, WA	1.0	1.0	684	$1,650	$2.41	3d	2	1.28mi
3708 NE 109th Ave Vancouver, WA	1.0–3.0	1.0–2.0	899	$1,779	$1.98	3d	30	1.37mi
11716 NE 49th St Vancouver, WA	1.0–3.0	1.0–2.5	1090	$1,788	$1.64	8d	15	1.43mi
4000 NE 109th Ave Vancouver, WA	1.0–2.0	1.0–2.5	780	$1,950	$2.50	3d	2	1.43mi
10415 NE Oakbrook Cir Vancouver, WA	1.0–2.0	1.0–1.5	764	$1,583	$2.07	3d	6	1.44mi
11301 NE 7th St Vancouver, WA	3.0	1.0–2.0	840	$1,867	$2.22	2d	43	1.47mi
11412 NE 49th St Vancouver, WA	1.0–2.0	1.0–2.0	810	$1,730	$2.14	2d	6	1.49mi

HOA detail

• Monthly dues: $800 · $9,600/yr

Listing history 15 events

1. 2026-06-21
   days on market $75,000 Active 66 DOM
2. 2026-06-18
   days on market $75,000 Active 63 DOM
3. 2026-06-17
   days on market $75,000 Active 62 DOM
4. 2026-06-16
   days on market $75,000 Active 61 DOM
5. 2026-06-15
   days on market $75,000 Active 60 DOM
6. 2026-06-13
   days on market $75,000 Active 58 DOM
7. 2026-06-13
   days on market $75,000 Active 57 DOM
8. 2026-06-09
   days on market $75,000 Active 54 DOM
9. 2026-06-08
   days on market $75,000 Active 53 DOM
10. 2026-06-07
    days on market $75,000 Active 52 DOM
11. 2026-06-03
    days on market $75,000 Active 48 DOM
12. 2026-06-02
    days on market $75,000 Active 47 DOM
13. 2026-06-01
    days on market $75,000 Active 46 DOM
14. 2026-05-31
    days on market $75,000 Active 45 DOM
15. 2026-04-16
    listed $75,000 Active 543-char remark

    Show marketing remark (543 chars)

    Charming and well-kept home located in a sought-after all-ages community! This 2-bedroom, 1-bath residence offers 684 sq ft of thoughtfully designed living space. Inside, you’ll find a practical kitchen, dedicated dining area, and the convenience of in-home laundry. The layout is efficient and filled with natural light, creating a bright and welcoming feel throughout. Enjoy a low-maintenance lifestyle in a prime location just minutes from shopping, dining, and daily essentials. An excellent opportunity for affordable homeownership.

ⓘ 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: $160 · $13/mo
• Projected year-2 tax: $735 · $61/mo
• Expected delta: +$575/yr (+$48/mo · 359.7%)

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

Taxation est. · year 1

• Rental income: $20,525
• − Mortgage interest: −$4,201
• − Property taxes: −$160
• − Insurance: −$375
• − Repairs & maintenance: −$1,642
• − Management: −$1,642
• − HOA: −$9,600
• − Depreciation: −$2,182
• Taxable income: $723
• Est. tax owed @ 24.0%: −$174
• After-tax cash flow: $1,187/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: Evergreen School District (Clark)
• NCES district ID: 5302700
• Math proficiency: 41% ▼ -3.00%
• Reading proficiency: 51% ▼ -3.00%
• Median HH income: $59,418
• Composite: 42.53/100
• National rank: #6859
• State rank: #164 of 291 in WA

Livability — Vancouver

• Score: 82/100
• State rank: #62
• US rank: #1133

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Vancouver, WA
• County: Clark County · 513,189 people
• City population: 360,195
• Metro: Portland-Vancouver-Hillsboro, OR-WA
• Population (ZIP): 68,305
• Household income: $99,918
• Rent vs Own: 29.6% rent · 70.4% own
• Severe rent burden: 1618.0

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 (69%)
• Race & ethnicity: White 69% Hispanic / Latino 15% Two or more races 13% Asian 6% Black 2% Pacific Islander 1%
• Hispanic origin (detail): Mexican 12%
• Common ancestry: Portuguese 3% Subsaharan African 3% Scotch-Irish 2%
• Foreign-born: 13% · Canada, Vietnam, South Korea
• Languages at home: 79% English-only · Spanish 8% Russian/Polish/Slavic 6% Other Asian/Pacific 2%

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: ▼ -303.95%
• Current HPI: 307.0529
• Rent YoY: ▲ 0.63%
• 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

1 event — show timeline

• 2026-04-16 Listed $75,000 RMLS

Property tax history

+29.1%/yr

Latest (2026): $160 · +109.2% YoY. Source: county tax records.