3090 Cole Rd · Everson, WA 98247

$200,000

2 bd · 1.5 ba · 672 sqft · Manufactured public records · 119 Days on market

Built 1969 1.80 ac lot ↓ 20% since listing

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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 +15.1/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.5/10.0
• DSCR +4.6/10.0
• 1% rule +3.9/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Set on 1.8 partially wooded acres, this property presents a unique opportunity to create something special. Utilities are already connected, offering a valuable head start for future plans. The existing mobile home is in significant disrepair and will require substantial renovation or removal. Zoned Agricultural, the parcel provides flexibility for a variety of potential uses (buyer to verify). The property also includes three sheds/large garage structures, offering ample space for storage, equipment, or workshop potential. Value is primarily in the land and its possibilities. Ideal for those ready to bring vision and creativity to their next project. Property sold as-is. Camper on property

Key facts

• Zoned agricultural
• Three sheds
• 1.8 acre lot

Tags

• PARTIALLY WOODED ACRES
• UTILITIES ARE CONNECTED
• ZONED AGRICULTURAL
• THREE SHEDS
• LARGE GARAGE STRUCTURES

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath manufactured listed at $200k.

Deal economics

• At list price, monthly cash flow is $67 ($805/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $178k (11.1% below list).
• Recommended offer: $178k (11.1% below list) — sets the bar for 1% rule.
• Cap rate 6.7% vs local median 2.2% in Everson — 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 67/100 on livability (#294 in WA) — a middle-class / working-renter tenant base. Strengths: crime A+, commute A, housing A; Watch: schools C-, employment C-, cost of living C-.
• Nooksack Valley School District (rural): math 59% / reading 65% proficiency, ranked #50 of 291 in WA (top 17%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 62 active listings in the ZIP; solid renter incomes; 1,190 units permitted in Whatcom County in 2024 (327 in 5+ unit buildings).

Forward outlook

• In year one you build about $21k of equity ($1k loan paydown + $20k appreciation (10.0% local appreciation)).
• Whatcom County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $56k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 119 days — a 9% lower offer ($182k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $177,860 (11.1% below list)

Questions for the listing agent

1. It's been on market 119 days. Have you received any prior offers? Is the seller open to a 11% concession, seller financing, or rate buy-down credit?
2. Built in 1969 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 0.89% ✗
• Cap rate: 6.70%
• Cash-on-cash: 1.44%
• DSCR: 1.06
• GRM: 9.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 25.3%
• Equity multiple: 3.02×
• Total profit: $113,200
• Equity at exit: $180,176

10-year hold

• IRR: 22.3%
• Equity multiple: 6.89×
• Total profit: $329,992
• Equity at exit: $388,556

Cash invested: $56,000 (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 98247

• Home prices YoY: 2.2%
• Active inventory: 62
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $1,779 medium
• Mortgage (P&I): −$1,049
• Tax from tax record: −$206 /mo · $2,470/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$374
• Net cashflow: $67

Break-even live

Break-even rent $1,694

Max offer price $200,000

Occupancy floor 91%

Sensitivity live

Price	-10% $180	-5% $124	+0% $67	+5% $11	+10% $-46
Rent	-10% $-73	-5% $-3	+0% $67	+5% $137	+10% $208
Rate	-1.0pp $168	-0.5pp $118	base $67	+0.5pp $15	+1.0pp $-37

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-18
   days on market $200,000 Active 119 DOM
2. 2026-06-17
   days on market $200,000 Active 118 DOM
3. 2026-06-16
   days on market $200,000 Active 117 DOM
4. 2026-06-15
   days on market $200,000 Active 116 DOM
5. 2026-06-14
   days on market $200,000 Active 114 DOM
6. 2026-06-13
   days on market $200,000 Active 113 DOM
7. 2026-06-10
   days on market $200,000 Active 111 DOM
8. 2026-06-09
   days on market $200,000 Active 110 DOM
9. 2026-06-08
   days on market $200,000 Active 109 DOM
10. 2026-06-07
    days on market $200,000 Active 108 DOM
11. 2026-06-02
    days on market $200,000 Active 103 DOM
12. 2026-06-01
    days on market $200,000 Active 102 DOM
13. 2026-05-31
    days on market $200,000 Active 101 DOM
14. 2026-05-30
    days on market $200,000 Active 100 DOM
15. 2026-05-12
    price $200,000
16. 2026-03-27
    price $225,000
17. 2026-02-19
    listed $250,000 Active

ⓘ 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: $2,470 · $206/mo
• Projected year-2 tax: $2,470 · $206/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 52% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥86°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 7/10 Severe 12 unhealthy d/yr today · 12 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,343
• − Mortgage interest: −$11,203
• − Property taxes: −$2,470
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,707
• − Management: −$1,707
• − Depreciation: −$5,818
• Taxable loss: −$2,563
• Est. tax savings @ 24.0%: +$615
• After-tax cash flow: $1,421/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: Nooksack Valley School District
• NCES district ID: 5305670
• Math proficiency: 59% ▲ 1.00%
• Reading proficiency: 65% ▼ -3.00%
• Median HH income: $55,264
• Composite: 54.76/100
• National rank: #2832
• State rank: #50 of 291 in WA

Livability — Everson

• Score: 67/100
• State rank: #294
• US rank: #10287

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Whatcom County · 209,776 people
• Metro: Bellingham, WA
• Population (ZIP): 9,115
• Household income: $88,724
• Rent vs Own: 27.2% rent · 72.8% own
• Severe rent burden: 342.0

Population outlook (Whatcom County) Hauer SSP2

• Today (2025): 240,408 people
• By 2030: 254,667 · +5.9%
• By 2040: 281,365 · +17.0%
• By 2050: 307,592 · +27.9%
• By 2075: 375,576 · +56.2%
• By 2100: 421,637 · +75.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (72%)
• Race & ethnicity: White 72% Hispanic / Latino 19% Two or more races 8% Asian 3% Native American 3%
• Hispanic origin (detail): Mexican 17%
• Common ancestry: Iranian 12% Portuguese 4% Italian 3%
• Foreign-born: 12% · Canada, Vietnam, China
• Languages at home: 82% English-only · Spanish 14% Vietnamese 2% German/W. Germanic 1%

Political lean MEDSL · Whatcom

• 2024 margin: Strong D (+24.9) · D 60.8% · R 35.9% · Other 3.3%
• 2008→2024 swing: +6.9pp toward D · 2008: 18.0pp · 2024: 24.9pp
• All cycles: 2024: D+24.9 2020: D+23.9 2016: D+17.7 2012: D+12.1 2008: D+18.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 15.90%
• Current HPI: 744.59
• Rent YoY: —
• Metro: Bellingham, 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

-20.0% since first listed

3 events — show timeline

• 2026-05-12 Price Changed $200,000 NWMLS as Distributed by MLS Grid
• 2026-03-27 Price Changed $225,000 NWMLS as Distributed by MLS Grid
• 2026-02-19 Listed $250,000 NWMLS as Distributed by MLS Grid

Property tax history

+4.7%/yr

Latest (2026): $2,470 · +816.4% YoY. Source: county tax records.