208 Burma Rd · Castle Rock, WA 98611

$200,000

2 bd · 2.0 ba · 959 sqft · Manufactured public records · 95 Days on market

Built 1985 1.06 ac lot $209/sqft · 896% above area

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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 +20.4/30.0
• ARV discount +7.5/15.0
• DSCR +6.5/10.0
• 1% rule +4.8/10.0
• Schools +4.2/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Opportunity awaits with this 959 SF, 2-bedroom, 2-bath home set on over 1 acre of level property framed by beautiful mature trees. The property offers a peaceful, open setting with plenty of usable outdoor space and room to expand or enhance over time. Outside, you'll appreciate the added value of both a detached garage/barn perfect for extra storage, hobbies, equipment, animals, or a workshop. The expansive, level yard provides endless possibilities for gardening, outdoor entertaining, recreation, or simply enjoying the privacy and shade of the established trees. With space, versatility, and potential, this property offers a unique opportunity to create something truly special.

Key facts

• Outdoor entertaining
• Expansive yard
• Usable outdoor space

Tags

• DETACHED GARAGE
• LEVEL PROPERTY
• USABLE OUTDOOR SPACE
• MATURE TREES
• EXPANSIVE YARD
• OUTDOOR ENTERTAINING

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $200k.

Deal economics

• At list price, monthly cash flow is $194 ($2k/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 $195k (2.5% below list).
• Recommended offer: $182k (9.0% below list) — sets the bar for market timing.
• Cap rate 7.9% vs local median 2.1% in Castle Rock — 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 72/100 on livability (#209 in WA) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, health & safety A+; Watch: employment D+, amenities F, commute F.
• Castle Rock School District (town): math 36% / reading 56% proficiency, ranked #174 of 291 in WA (top 60%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Castle Rock Elementary (702 students, 58% FRL); Castle Rock Middle School (348 students, 56% FRL); Castle Rock High School (449 students, 52% FRL).
• Market conditions: 144 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 348 units permitted in Cowlitz County in 2024 (40 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Cowlitz County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 95 days — a 9% lower offer ($182k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 4y ago; this cycle's ask has dropped $25k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $170k; 18% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $182,000 (9.0% below list)

Questions for the listing agent

1. It's been on market 95 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. 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.
7. 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.
8. 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: 0.97% ✗
• Cap rate: 7.86%
• Cash-on-cash: 5.59%
• DSCR: 1.25
• GRM: 8.5

CMA / ARV

• ARV (median comp): $20,081
• List price: $200,000
• Delta: 895.94%
• Verdict: OVERPRICED
• Comps: 1 within 2.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
208 Burma Rd	0.00mi	2/2.0	959 (0%)	0mo	$175,000	$182	100

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -9.8%
• Equity multiple: 0.64×
• Total profit: $-20,032
• Equity at exit: $29,821

10-year hold

• IRR: -0.4%
• Equity multiple: 0.97×
• Total profit: $-1,486
• Equity at exit: $17,292

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 98611

• Home prices YoY: -32.2%
• Active inventory: 144
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $1,950 medium
• Mortgage (P&I): −$1,049
• Tax from tax record: −$148 /mo · $1,772/yr
• Insurance: −$83
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$410
• Net cashflow: $194

Break-even live

Break-even rent $1,704

Max offer price $200,000

Occupancy floor 85%

Sensitivity live

Price	-10% $307	-5% $251	+0% $194	+5% $138	+10% $81
Rent	-10% $40	-5% $117	+0% $194	+5% $271	+10% $348
Rate	-1.0pp $295	-0.5pp $245	base $194	+0.5pp $142	+1.0pp $90

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: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
498 Kroll Rd Castle Rock, WA	2.0	2.0	988	$1,950	$1.97	45d	1	1.35mi

Listing history 17 events

1. 2026-06-03
   statusdays on market $200,000 Pending 95 DOM
2. 2026-06-02
   days on market $200,000 Active 94 DOM
3. 2026-06-01
   days on market $200,000 Active 93 DOM
4. 2026-05-31
   days on market $200,000 Active 92 DOM
5. 2026-05-30
   days on market $200,000 Active 91 DOM
6. 2026-05-07
   price $200,000

   Show marketing remark (687 chars)

   Opportunity awaits with this 959 SF, 2-bedroom, 2-bath home set on over 1 acre of level property framed by beautiful mature trees. The property offers a peaceful, open setting with plenty of usable outdoor space and room to expand or enhance over time. Outside, you'll appreciate the added value of both a detached garage/barn perfect for extra storage, hobbies, equipment, animals, or a workshop. The expansive, level yard provides endless possibilities for gardening, outdoor entertaining, recreation, or simply enjoying the privacy and shade of the established trees. With space, versatility, and potential, this property offers a unique opportunity to create something truly special.

7. 2026-05-07
   price $200,000 687-char remark

   Show marketing remark (687 chars)

   Opportunity awaits with this 959 SF, 2-bedroom, 2-bath home set on over 1 acre of level property framed by beautiful mature trees. The property offers a peaceful, open setting with plenty of usable outdoor space and room to expand or enhance over time. Outside, you'll appreciate the added value of both a detached garage/barn perfect for extra storage, hobbies, equipment, animals, or a workshop. The expansive, level yard provides endless possibilities for gardening, outdoor entertaining, recreation, or simply enjoying the privacy and shade of the established trees. With space, versatility, and potential, this property offers a unique opportunity to create something truly special.

8. 2026-03-26
   price $210,000

   Show marketing remark (687 chars)

   Opportunity awaits with this 959 SF, 2-bedroom, 2-bath home set on over 1 acre of level property framed by beautiful mature trees. The property offers a peaceful, open setting with plenty of usable outdoor space and room to expand or enhance over time. Outside, you'll appreciate the added value of both a detached garage/barn perfect for extra storage, hobbies, equipment, animals, or a workshop. The expansive, level yard provides endless possibilities for gardening, outdoor entertaining, recreation, or simply enjoying the privacy and shade of the established trees. With space, versatility, and potential, this property offers a unique opportunity to create something truly special.

9. 2026-03-26
   price $210,000 687-char remark

   Show marketing remark (687 chars)

   Opportunity awaits with this 959 SF, 2-bedroom, 2-bath home set on over 1 acre of level property framed by beautiful mature trees. The property offers a peaceful, open setting with plenty of usable outdoor space and room to expand or enhance over time. Outside, you'll appreciate the added value of both a detached garage/barn perfect for extra storage, hobbies, equipment, animals, or a workshop. The expansive, level yard provides endless possibilities for gardening, outdoor entertaining, recreation, or simply enjoying the privacy and shade of the established trees. With space, versatility, and potential, this property offers a unique opportunity to create something truly special.

10. 2026-02-28
    listed $225,000 Active

    Show marketing remark (687 chars)

    Opportunity awaits with this 959 SF, 2-bedroom, 2-bath home set on over 1 acre of level property framed by beautiful mature trees. The property offers a peaceful, open setting with plenty of usable outdoor space and room to expand or enhance over time. Outside, you'll appreciate the added value of both a detached garage/barn perfect for extra storage, hobbies, equipment, animals, or a workshop. The expansive, level yard provides endless possibilities for gardening, outdoor entertaining, recreation, or simply enjoying the privacy and shade of the established trees. With space, versatility, and potential, this property offers a unique opportunity to create something truly special.

11. 2026-02-28
    listed $225,000 Active 687-char remark

    Show marketing remark (687 chars)

    Opportunity awaits with this 959 SF, 2-bedroom, 2-bath home set on over 1 acre of level property framed by beautiful mature trees. The property offers a peaceful, open setting with plenty of usable outdoor space and room to expand or enhance over time. Outside, you'll appreciate the added value of both a detached garage/barn perfect for extra storage, hobbies, equipment, animals, or a workshop. The expansive, level yard provides endless possibilities for gardening, outdoor entertaining, recreation, or simply enjoying the privacy and shade of the established trees. With space, versatility, and potential, this property offers a unique opportunity to create something truly special.

12. 2022-10-18
    soldstatus $170,000 Closed

    Show marketing remark (421 chars)

    Minutes from the freeway-2 bed/1.75 bath manufactured home on 1 acre. Several outbuildings, flat property. Live in the home and fix it up or live in it while you build. Large pond area, fruit trees, workshop with loft, even a man made soaking pool with gazebo! This home needs love but still has lots of positive attributes - come take a look! Second placement and condition make it unfinanceable - priced for quick sale!

13. 2022-10-18
    soldstatus $170,000 Closed 421-char remark

    Show marketing remark (421 chars)

    Minutes from the freeway-2 bed/1.75 bath manufactured home on 1 acre. Several outbuildings, flat property. Live in the home and fix it up or live in it while you build. Large pond area, fruit trees, workshop with loft, even a man made soaking pool with gazebo! This home needs love but still has lots of positive attributes - come take a look! Second placement and condition make it unfinanceable - priced for quick sale!

14. 2022-09-28
    status Pending 421-char remark

    Show marketing remark (421 chars)

    Minutes from the freeway-2 bed/1.75 bath manufactured home on 1 acre. Several outbuildings, flat property. Live in the home and fix it up or live in it while you build. Large pond area, fruit trees, workshop with loft, even a man made soaking pool with gazebo! This home needs love but still has lots of positive attributes - come take a look! Second placement and condition make it unfinanceable - priced for quick sale!

15. 2022-09-27
    status Pending
16. 2022-09-23
    listed $180,000 Active 421-char remark

    Show marketing remark (421 chars)

    Minutes from the freeway-2 bed/1.75 bath manufactured home on 1 acre. Several outbuildings, flat property. Live in the home and fix it up or live in it while you build. Large pond area, fruit trees, workshop with loft, even a man made soaking pool with gazebo! This home needs love but still has lots of positive attributes - come take a look! Second placement and condition make it unfinanceable - priced for quick sale!

17. 2022-09-15
    listed $180,000 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: $1,772 · $148/mo
• Projected year-2 tax: $1,960 · $163/mo
• Expected delta: +$188/yr (+$16/mo · 10.6%)

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

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (unshaded) · 77% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥89°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 6/10 Major 8 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,400
• − Mortgage interest: −$11,203
• − Property taxes: −$1,772
• − Insurance: −$1,798
• − Repairs & maintenance: −$1,872
• − Management: −$1,872
• − Depreciation: −$5,818
• Taxable loss: −$935
• Est. tax savings @ 24.0%: +$224
• After-tax cash flow: $2,555/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: Castle Rock School District
• NCES district ID: 5300990
• Math proficiency: 36% ▬ 0.00%
• Reading proficiency: 56% ▲ 4.00%
• Median HH income: $51,823
• Composite: 41.78/100
• National rank: #7162
• State rank: #174 of 291 in WA

Livability — Castle Rock

• Score: 72/100
• State rank: #209
• US rank: #5888

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 9,367

Population outlook (Cowlitz County) Hauer SSP2

• Today (2025): 104,780 people
• By 2030: 103,980 · -0.8%
• By 2040: 100,769 · -3.8%
• By 2050: 96,685 · -7.7%
• By 2075: 86,454 · -17.5%
• By 2100: 74,052 · -29.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Two or more races 7% Hispanic / Latino 3% Pacific Islander 2% Native American 1%
• Common ancestry: Portuguese 5% Italian 3% Iranian 3%
• Foreign-born: 1%
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Cowlitz

• 2024 margin: R (+19.9) · D 38.7% · R 58.6% · Other 2.7%
• 2008→2024 swing: -31.1pp toward R · 2008: 11.2pp · 2024: -19.9pp
• All cycles: 2024: R+19.9 2020: R+17.4 2016: R+13.7 2012: D+4.4 2008: D+11.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -124.17%
• Current HPI: 261.3765
• 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

+11.1% since first listed

12 events — show timeline

• 2026-05-07 Price Changed $200,000 NWMLS as Distributed by MLS Grid
• 2026-05-07 Price Changed $200,000 RMLS
• 2026-03-26 Price Changed $210,000 NWMLS as Distributed by MLS Grid
• 2026-03-26 Price Changed $210,000 RMLS
• 2026-02-28 Listed $225,000 RMLS
• 2026-02-28 Listed $225,000 NWMLS as Distributed by MLS Grid
• 2022-10-18 Sold (MLS) $170,000 RMLS
• 2022-10-18 Sold (MLS) $170,000 NWMLS as Distributed by MLS Grid
• 2022-09-28 Pending — RMLS
• 2022-09-27 Pending — NWMLS as Distributed by MLS Grid
• 2022-09-23 Listed $180,000 RMLS
• 2022-09-15 Listed $180,000 NWMLS as Distributed by MLS Grid

Property tax history

+39.9%/yr

Latest (2026): $1,772 · +0.9% YoY. Source: county tax records.