300 SW 7th Ave #403

Battle Ground, WA 98604

$64,900D

2 bd · 2.0 ba · 1,147 sqft · Built 1976 · Manufactured · Active · 209 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,718/mo
• Mortgage (P&I): −$340
• Tax + insurance: −$108
• HOA: −$1,350
• Vac / Maint / Mgmt: −$361
• Net cashflow: $-441/mo
• Annual: $-5,292/yr
• Cap rate: -1.86%
• Cash-on-cash: -29.12%
• DSCR: -0.30
• 1% rule: 2.65%
• Cash to close: $18,172

Investor read

• This is a 2-bed/2.0-bath manufactured listed at $65k.
• At list price, monthly cash flow is $-441 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $1k (98.3% below list).
• Meets the 1% rule at list price ($2k rent vs $65k).
• It's been on market 209 days — a 12% lower offer ($57k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $1k (98.3% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $449 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 90/100 on livability (#3 in WA, #93 nationally) — a professional / high-income tenant draw. Strengths: crime A+, amenities A+, employment A+; Watch: cost of living D-.
• Battle Ground School District (suburban): math 48% / reading 60% proficiency, ranked #92 of 291 in WA (top 32%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Watch-outs: HOA is 79% of rent.
• Market conditions: Rents rising fast (+4.0%/yr); 468 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); high-income renter base; 3,547 units permitted in Clark County in 2024 (1,361 in 5+ unit buildings).
• Clark County population projected at +29% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 4 sale attempts since 31y ago; this cycle's ask has dropped $35k (35%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $19k; list at $65k implies a 245% gain — meaningful room to come down on a strong offer.
• Cap rate -1.9% vs local median 2.9% in Battle Ground — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 209 days. Have you received any prior offers? Is the seller open to a 98% concession, seller financing, or rate buy-down credit?
• Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?