2284 Yew Street Rd Unit E-1 · Bellingham, WA 98229

$121,000

2 bd · 2.0 ba · 1,008 sqft · Manufactured public records · 8 Days on market

Built 1976 Est $187k · 35% under

---

Why this score? — see what drove the B+ 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.8/10.0
• Livability +4.0/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

$7,000 PRICE REDUCTION! Don't miss this opportunity to own a move-in ready home in the desirable Forest Park Mobile Home Community. This well-maintained 1976 Broadmore offers 2 bedrooms, 2 bathrooms, and a thoughtfully designed floor plan with bedrooms located on opposite ends of the home for added privacy. The bright, open-concept living area flows seamlessly into the dining space and kitchen, creating a comfortable setting for everyday living and entertaining. The spacious primary suite features a walk-in closet and private ensuite bath. Enjoy the enclosed porch for additional living space, home office, hobby room, or year-round enjoyment. Step outside to the large deck overlooking a peac

Key facts

• Large deck
• Enclosed porch
• Well maintained

Tags

• WELL MAINTAINED
• SPACIOUS PRIMARY SUITE
• WALK IN CLOSET
• PRIVATE ENSUITE BATH
• ENCLOSED PORCH
• LARGE DECK

Property features AI

Finance

• Other: Bus line nearby
• Financial info: Land lease amount $650; Listing terms: Cash or Conventional
• HOA & community: Located in Forest Park mobile home park (54 homes); Park approved for sale; Pets allowed: cats and dogs; Land lease

Exterior

• Parking: Uncovered parking; 2 open parking spaces
• Utilities: Electric energy source; Electric water heater; Public water; Forest Park (city) septic sewer; Power by PSE; Cable: Xfinity; Internet: Xfinity
• Home design: Manufactured single-wide home; One story; Good condition; Has view; Make: BROADMORE, Model: 66X14; Mobile home remains on site; Skirted with metal
• Construction: Metal/vinyl construction; Metal roof; Tie-down foundation
• Exterior features: Metal/vinyl exterior; Paved lot

Interior

• Kitchen: Kitchen with eating space; Refrigerator; Stove/Range
• Bedrooms: 2 bedrooms
• Flooring: Vinyl plank
• Bathrooms: 2 full bathrooms; 2 bathtubs; 2 showers
• Heating & cooling: Forced air heating
• Interior features: Water heater; Bath off primary; Patio/porch/deck; Walk-in closet
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $121k.

Deal economics

• At list price, monthly cash flow is $918 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $121k).
• Cap rate 15.4% vs local median 2.0% in Bellingham — 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 80/100 on livability (#102 in WA, #1,947 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, health & safety A+; Watch: crime F, cost of living F.
• Bellingham School District (urban): math 47% / reading 63% proficiency, ranked #106 of 291 in WA (top 36%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Wade King Elementary School (346 students, 24% FRL); Sehome High School (1,163 students, 25% FRL).
• Market conditions: Rents rising (+3.4%/yr); 270 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 1,190 units permitted in Whatcom County in 2024 (327 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $837 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Whatcom County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.4% rent growth), your $34k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $121,000

Questions for the listing agent

1. Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
4. 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?
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: 1.73% ✓
• Cap rate: 15.39%
• Cash-on-cash: 32.50%
• DSCR: 2.45
• GRM: 4.8

CMA / ARV

• ARV (on-the-fly): $187,488
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2284 Yew Street Rd Unit D3	0.06mi	2/1.5	1,040 (+3%)	2mo	$140,000	$135	88
2174 Yew Street Rd #24	0.25mi	3/2.0 (+1)	1,050 (+4%)	11mo	$195,000	$186	67
2174 Yew Street Rd #22	0.25mi	3/2.0 (+1)	1,080 (+7%)	8mo	$265,000	$245	64

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 · 3.38% rent growth · sell at horizon

5-year hold

• IRR: 28.0%
• Equity multiple: 2.17×
• Total profit: $39,610
• Equity at exit: $18,041

10-year hold

• IRR: 35.6%
• Equity multiple: 4.33×
• Total profit: $112,934
• Equity at exit: $10,462

Cash invested: $33,880 (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 98229

• Rents YoY: 3.4%
• Active inventory: 270
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $2,088 high
• Mortgage (P&I): −$635
• Tax from tax record: −$47 /mo · $562/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$438
• Net cashflow: $918

Break-even live

Break-even rent $926

Max offer price $121,000

Occupancy floor 51%

Sensitivity live

Price	-10% $986	-5% $952	+0% $918	+5% $883	+10% $849
Rent	-10% $753	-5% $835	+0% $918	+5% $1,000	+10% $1,083
Rate	-1.0pp $979	-0.5pp $948	base $918	+0.5pp $886	+1.0pp $854

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: $30,250
• Closing costs: $3,630
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3966 Byron Ave Unit 105 Bellingham, WA	2.0	2.0	995	$1,650	$1.66	21d	1	1.19mi
3966 Byron Ave Bellingham, WA	1.0	1.0	711	$1,450	$2.04	21d	1	1.19mi
110 Ashley Ave Bellingham, WA	3.0	2.0	1362	$2,298	$1.69	13d	5	1.24mi
3805 Elwood Ave Bellingham, WA	4.0	1.0–2.5	1213	$2,418	$1.99	13d	49	1.27mi
1743 E Maple St Bellingham, WA	1.0–3.0	1.0–2.0	910	$2,108	$2.32	13d	12	1.32mi
3613 Consolidation Ave Bellingham, WA	3.0	2.0	1017	$2,378	$2.34	13d	8	1.46mi

Listing history 18 events

1. 2026-06-18
   days on market $121,000 Active 8 DOM
2. 2026-06-17
   days on market $121,000 Active 7 DOM
3. 2026-06-16
   status $121,000 Active 6 DOM
4. 2026-06-16
   days on market $121,000 Active Under Contract 6 DOM
5. 2026-06-15
   days on market $121,000 Active Under Contract 5 DOM
6. 2026-06-14
   days on market $121,000 Active Under Contract 3 DOM
7. 2026-06-13
   pricestatusdays on marketlisting id $121,000 Active Under Contract 2 DOM
8. 2026-06-10
   days on market $128,500 Active 58 DOM
9. 2026-06-09
   days on market $128,500 Active 57 DOM
10. 2026-06-08
    days on market $128,500 Active 56 DOM
11. 2026-06-07
    days on market $128,500 Active 55 DOM
12. 2026-06-05
    days on market $128,500 Active 52 DOM
13. 2026-06-03
    days on market $128,500 Active 51 DOM
14. 2026-06-02
    days on market $128,500 Active 50 DOM
15. 2026-06-01
    days on market $128,500 Active 49 DOM
16. 2026-05-31
    days on market $128,500 Active 48 DOM
17. 2026-05-30
    days on market $128,500 Active 47 DOM
18. 2026-04-13
    listed $128,500 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: $562 · $47/mo
• Projected year-2 tax: $1,186 · $99/mo
• Expected delta: +$624/yr (+$52/mo · 110.9%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 1/10 Low 5 d/yr ≥83°F today · 11 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 6/10 Major 9 unhealthy d/yr today · 10 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,056
• − Mortgage interest: −$6,778
• − Property taxes: −$562
• − Insurance: −$605
• − Repairs & maintenance: −$2,004
• − Management: −$2,004
• − Depreciation: −$3,520
• Taxable income: $9,582
• Est. tax owed @ 24.0%: −$2,300
• After-tax cash flow: $8,713/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: Bellingham School District
• NCES district ID: 5300420
• Math proficiency: 47% ▼ -6.00%
• Reading proficiency: 63% ▼ -1.00%
• Median HH income: $47,678
• Composite: 48.49/100
• National rank: #4632
• State rank: #106 of 291 in WA

Livability — Bellingham

• Score: 80/100
• State rank: #102
• US rank: #1947

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Whatcom County · 209,776 people
• City population: 130,296
• Metro: Bellingham, WA
• Population (ZIP): 33,298
• Household income: $90,945
• Rent vs Own: 30.3% rent · 69.7% own
• Severe rent burden: 1040.0

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 (77%)
• Race & ethnicity: White 77% Two or more races 13% Hispanic / Latino 10% Asian 3%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Portuguese 6% Italian 4% Slovak 4%
• Foreign-born: 8% · Canada, China, Vietnam
• Languages at home: 88% English-only · Spanish 7% Chinese 1% 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: ▼ -652.00%
• Current HPI: 413.1478
• Rent YoY: ▲ 3.38%
• 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

1 event — show timeline

• 2026-04-13 Listed $128,500 NWMLS as Distributed by MLS Grid

Property tax history

+9.1%/yr

Latest (2026): $562 · +278.7% YoY. Source: county tax records.