Cabin 196 Northwoods

Cougar, WA 98616

$159,900C

3 bd · 2.0 ba · 1,711 sqft · Built 1991 · SingleFamily · Active · 8 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,810/mo
• Mortgage (P&I): −$839
• Tax + insurance: −$266
• HOA: −$324
• Vac / Maint / Mgmt: −$380
• Net cashflow: $1/mo
• Annual: $14/yr
• Cap rate: 6.30%
• Cash-on-cash: 0.03%
• DSCR: 1.00
• 1% rule: 1.13%
• Cash to close: $44,772

Investor read

• This is a 3-bed/2.0-bath single-family listed at $160k.
• At list price, monthly cash flow is $1 ($14/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $160k).
• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $7k of equity ($1k loan paydown + $6k appreciation (3.5% local appreciation)).
• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• 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: 43 active listings in the ZIP; 34 units permitted in Skamania County in 2024 (0 in 5+ unit buildings).
• At projected returns (3.5% appreciation + 3.0% rent growth), your $45k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Cap rate 6.3% vs local median 2.6% in Cougar — 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.

Questions for listing agent

• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.
• 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.