16812 SE 1st St #60 · Vancouver, WA 98684

$90,000

3 bd · 2.0 ba · 1,848 sqft · Manufactured public records · 6 Days on market

Built 1979 $49/sqft · 41% below area Est $153k · 41% under ↓ 12% since listing

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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 +4.3/10.0
• Livability +4.1/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Location, location, location! Grab this great opportunity to own affordable housing in a popular Vancouver, Washington area.This all age mobile home park is just 10 minutes from: • Portland international airport • Grocery stores • Department stores • Dining • Activity centers • Senior centers • Hospital • Parks1848 sq foot unit, with so much potential. Bring 5 gallons of paint and your coveralls. Fresh paint, new flooring and a few new ceiling panels (or paint) will transform this diamond in the rough. Lots of outdoor space, too on this lot with a really nice green space right outside your front deck. Watch the kids or pups play from the covered front or back porch areas. Pets welcome, kids welcome. The master bedroom and bath are adjacent to the family room and kitchen. This unique unit also has a beautiful vintage stone fireplace - perfect for those chilly PNW nights!! Two more bedrooms at the opposite side of the home - full bath adjacent to a large living room. A perfect roommate set up providing privacy. All appliances included (washer, dryer, stove, fridge, dishwasher) and two rough Tough Sheds outside for extra storage. Brand new roof in 2022! This is your chance to own a piece of Vancouver at an entry level price of $115,000.Cash buyers encouraged. Make an offer!!!!!! Very motivated seller (estate).

Key facts

• Green space
• Covered front porch
• Full bath

Tags

• OUTDOOR SPACE
• GREEN SPACE
• COVERED FRONT PORCH
• COVERED BACK PORCH
• VINTAGE STONE FIREPLACE
• FULL BATH

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $90k.

Deal economics

• At list price, monthly cash flow is $2k ($19k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $90k).
• Cap rate 27.9% vs local median 2.7% in Vancouver — 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 82/100 on livability (#62 in WA, #1,133 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, housing A+; Watch: crime F, cost of living D-.
• Evergreen School District (Clark) (urban): math 41% / reading 51% proficiency, ranked #164 of 291 in WA (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+1.2%/yr); 299 active listings in the ZIP; 32 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 3,547 units permitted in Clark County in 2024 (1,361 in 5+ unit buildings).
• This rent runs 36% of the median local income ($91k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $622 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Clark County population projected at +29% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 1.2% rent growth), your $25k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts; this cycle's ask has dropped $40k (31%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $90,000

Questions for the listing agent

1. Built in 1979 — 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. 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?
4. 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.
5. 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.
6. 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: 3.05% ✓
• Cap rate: 27.95%
• Cash-on-cash: 77.34%
• DSCR: 4.44
• GRM: 2.7

CMA / ARV

• ARV (median comp): $152,761
• List price: $90,000
• Delta: -31.27%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
16812 SE 1st St #80	0.00mi	3/2.0	1,785 (-3%)	0mo	$60,000	$34	94
16812 SE 1st St	0.00mi	3/2.0	1,785 (-3%)	0mo	$60,000	$34	94
16500 SE 1st St #44	0.19mi	3/2.0	1,813 (-2%)	4mo	$160,500	$89	84
16812 SE 1st St #67	0.00mi	4/2.0 (+1)	1,960 (+6%)	10mo	$164,000	$84	76
16500 SE 1st St #65	0.19mi	3/2.0	1,763 (-5%)	11mo	$182,900	$104	75
16500 SE 1st St #159	0.19mi	3/2.0	1,762 (-5%)	11mo	$175,000	$99	74
16500 SE 1st St #109	0.19mi	3/2.0	1,856 (+0%)	22mo	$235,000	$127	72
16500 SE 1st St #160	0.19mi	3/2.0	1,762 (-5%)	18mo	$180,000	$102	69
16500 SE 1st St #46	0.19mi	2/2.0 (-1)	1,645 (-11%)	4mo	$144,500	$88	64
16500 SE 1st St #45	0.19mi	3/2.0	1,747 (-6%)	22mo	$165,000	$94	64
16004 NE 10th Cir	0.58mi	4/2.0 (+1)	1,848 (0%)	18mo	$379,900	$206	53
16500 SE 1st St #99	0.19mi	3/2.0	1,594 (-14%)	21mo	$205,300	$129	50

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 · 1.16% rent growth · sell at horizon

5-year hold

• IRR: 75.3%
• Equity multiple: 4.33×
• Total profit: $83,859
• Equity at exit: $13,419

10-year hold

• IRR: 78.5%
• Equity multiple: 8.40×
• Total profit: $186,455
• Equity at exit: $7,782

Cash invested: $25,200 (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 98684

• Rents YoY: 1.2%
• Active inventory: 299
• Price-to-rent: 2.7×

Monthly cashflow live

• Estimated rent: $2,746 high
• Mortgage (P&I): −$472
• Tax from tax record: −$36 /mo · $427/yr
• Insurance: −$38
• HOA: −$0
• Vacancy / Maint / Mgmt: −$577
• Net cashflow: $1,624

Break-even live

Break-even rent $690

Max offer price $90,000

Occupancy floor 36%

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: $22,500
• Closing costs: $2,700
• Reserves months: —
• Total cash needed: —

Rent comps 32 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
16702 SE 1st St Vancouver, WA	4.0	2.0	2125	$3,500	$1.65	23d	1	0.12mi
301 SE 166th Ave Vancouver, WA	3.0	1.0–2.0	883	$2,080	$2.36	7d	15	0.23mi
621 SE 168th Ave Vancouver, WA	2.0–3.0	1.0–2.0	1125	$2,274	$2.02	2d	9	0.35mi
621 SE 168th Ave Vancouver, WA	3.0	1.0–2.0	869	$2,294	$2.64	14d	7	0.35mi
16202 NE 8th St Unit B Vancouver, WA	2.0	2.5	1500	$2,150	$1.43	43d	1	0.45mi
600 SE 177th Ave Vancouver, WA	1.0–3.0	1.0–2.0	931	$2,535	$2.72	1d	20	0.50mi
1207 NE 166th Ave Vancouver, WA	3.0	2.0	1533	$6,000	$3.91	2d	1	0.57mi
16804 NE 12th St Vancouver, WA	4.0	2.5	2367	$8,500	$3.59	2d	1	0.57mi
16312 NE 12th St Unit 2 Vancouver, WA	3.0	2.0	1616	$2,059	$1.27	43d	1	0.59mi
15501 NE 2nd St Vancouver, WA	3.0	2.0	1264	$2,750	$2.18	1d	1	0.71mi
15709 NE 12th Way Vancouver, WA	4.0	2.5	2116	$2,795	$1.32	7d	1	0.77mi
15608 NE 12th St Vancouver, WA	4.0	2.5	2140	$2,795	$1.31	43d	1	0.79mi
1605 NE 180th Ave Vancouver, WA	4.0	2.5	2192	$3,495	$1.59	22d	1	0.94mi
1603 SE 171st Pl Vancouver, WA	4.0	2.5	1771	$6,300	$3.56	17d	1	0.95mi
17809 SE 14th St Vancouver, WA	4.0	2.5	2426	$2,895	$1.19	43d	1	0.98mi
1302 SE 155th Ave Vancouver, WA	3.0	2.0	1558	$2,495	$1.60	44d	1	1.02mi
16334 NE 20th St Vancouver, WA	3.0	2.5	1432	$2,695	$1.88	4d	1	1.04mi
17003 NE 22nd St Vancouver, WA	3.0	2.0	1448	$2,575	$1.78	4d	1	1.07mi
16332 NE 21st St Vancouver, WA	3.0	2.5	1541	$2,595	$1.68	23d	1	1.08mi
2119 NE 163rd Ave Vancouver, WA	3.0	2.5	1657	$2,515	$1.52	43d	1	1.11mi
Chase LNDG Gresham, OR	3.0	2.5	1389	$2,200	$1.58	12d	3	1.18mi
2419 NE 164th Ave Vancouver, WA	3.0	2.0	1386	$2,809	$2.03	2d	1	1.23mi
14600 SE 7th Way Vancouver, WA	3.0	2.5	1476	$2,345	$1.59	43d	1	1.26mi
19600 NE 3rd St Camas, WA	1.0–3.0	1.0–2.0	952	$2,825	$2.97	1d	20	1.33mi
17215 NE 27th Way Vancouver, WA	4.0	2.5	2372	$3,295	$1.39	3d	1	1.35mi
18714 SE 18th St Vancouver, WA	4.0	2.5	2073	$2,895	$1.40	22d	1	1.37mi
2712 NE 164th Pl Vancouver, WA	3.0	2.0	1380	$2,495	$1.81	23d	1	1.38mi
19002 SE 17th St Vancouver, WA	4.0	2.5	1712	$2,745	$1.60	14d	1	1.43mi
1203 NE Keyes Rd Vancouver, WA	3.0	2.0	1400	$2,199	$1.57	43d	1	1.46mi
2904 NE 161st Ct Vancouver, WA	4.0	2.5	1992	$3,195	$1.60	17d	1	1.46mi
1403 SE 194th Pl Camas, WA	3.0	3.0	2369	$3,295	$1.39	1d	1	1.48mi
19810 SE 5th Way Camas, WA	4.0	3.0	2292	$5,000	$2.18	11d	1	1.48mi

Listing history 18 events

1. 2026-06-18
   days on market $90,000 Active 6 DOM
2. 2026-06-17
   days on market $90,000 Active 5 DOM
3. 2026-06-16
   days on market $90,000 Active 4 DOM
4. 2026-06-15
   days on market $90,000 Active 3 DOM
5. 2026-06-13
   pricelisting id $90,000 Active 1 DOM
6. 2026-06-10
   days on marketlisting id $105,000 Active 1 DOM
7. 2026-06-09
   days on market $105,000 Active 252 DOM
8. 2026-06-08
   days on market $105,000 Active 251 DOM
9. 2026-06-07
   days on market $105,000 Active 250 DOM
10. 2026-06-03
    days on market $105,000 Active 246 DOM
11. 2026-06-02
    days on market $105,000 Active 245 DOM
12. 2026-06-01
    days on market $105,000 Active 244 DOM
13. 2026-05-31
    days on market $105,000 Active 243 DOM
14. 2026-04-28
    price $115,000 1372-char remark

    Show marketing remark (1372 chars)

    Location, location, location! Grab this great opportunity to own affordable housing in a popular Vancouver, Washington area.This all age mobile home park is just 10 minutes from: • Portland international airport • Grocery stores • Department stores • Dining • Activity centers • Senior centers • Hospital • Parks1848 sq foot unit, with so much potential. Bring 5 gallons of paint and your coveralls. Fresh paint, new flooring and a few new ceiling panels (or paint) will transform this diamond in the rough. Lots of outdoor space, too on this lot with a really nice green space right outside your front deck. Watch the kids or pups play from the covered front or back porch areas. Pets welcome, kids welcome. The master bedroom and bath are adjacent to the family room and kitchen. This unique unit also has a beautiful vintage stone fireplace - perfect for those chilly PNW nights!! Two more bedrooms at the opposite side of the home - full bath adjacent to a large living room. A perfect roommate set up providing privacy. All appliances included (washer, dryer, stove, fridge, dishwasher) and two rough Tough Sheds outside for extra storage. Brand new roof in 2022! This is your chance to own a piece of Vancouver at an entry level price of $115,000.Cash buyers encouraged. Make an offer!!!!!! Very motivated seller (estate).

15. 2026-03-26
    price $125,000 1372-char remark

    Show marketing remark (1372 chars)

    Location, location, location! Grab this great opportunity to own affordable housing in a popular Vancouver, Washington area.This all age mobile home park is just 10 minutes from: • Portland international airport • Grocery stores • Department stores • Dining • Activity centers • Senior centers • Hospital • Parks1848 sq foot unit, with so much potential. Bring 5 gallons of paint and your coveralls. Fresh paint, new flooring and a few new ceiling panels (or paint) will transform this diamond in the rough. Lots of outdoor space, too on this lot with a really nice green space right outside your front deck. Watch the kids or pups play from the covered front or back porch areas. Pets welcome, kids welcome. The master bedroom and bath are adjacent to the family room and kitchen. This unique unit also has a beautiful vintage stone fireplace - perfect for those chilly PNW nights!! Two more bedrooms at the opposite side of the home - full bath adjacent to a large living room. A perfect roommate set up providing privacy. All appliances included (washer, dryer, stove, fridge, dishwasher) and two rough Tough Sheds outside for extra storage. Brand new roof in 2022! This is your chance to own a piece of Vancouver at an entry level price of $115,000.Cash buyers encouraged. Make an offer!!!!!! Very motivated seller (estate).

16. 2026-01-31
    status Active 1372-char remark

    Show marketing remark (1372 chars)

    Location, location, location! Grab this great opportunity to own affordable housing in a popular Vancouver, Washington area.This all age mobile home park is just 10 minutes from: • Portland international airport • Grocery stores • Department stores • Dining • Activity centers • Senior centers • Hospital • Parks1848 sq foot unit, with so much potential. Bring 5 gallons of paint and your coveralls. Fresh paint, new flooring and a few new ceiling panels (or paint) will transform this diamond in the rough. Lots of outdoor space, too on this lot with a really nice green space right outside your front deck. Watch the kids or pups play from the covered front or back porch areas. Pets welcome, kids welcome. The master bedroom and bath are adjacent to the family room and kitchen. This unique unit also has a beautiful vintage stone fireplace - perfect for those chilly PNW nights!! Two more bedrooms at the opposite side of the home - full bath adjacent to a large living room. A perfect roommate set up providing privacy. All appliances included (washer, dryer, stove, fridge, dishwasher) and two rough Tough Sheds outside for extra storage. Brand new roof in 2022! This is your chance to own a piece of Vancouver at an entry level price of $115,000.Cash buyers encouraged. Make an offer!!!!!! Very motivated seller (estate).

17. 2026-01-19
    status Pending 1372-char remark

    Show marketing remark (1372 chars)

    Location, location, location! Grab this great opportunity to own affordable housing in a popular Vancouver, Washington area.This all age mobile home park is just 10 minutes from: • Portland international airport • Grocery stores • Department stores • Dining • Activity centers • Senior centers • Hospital • Parks1848 sq foot unit, with so much potential. Bring 5 gallons of paint and your coveralls. Fresh paint, new flooring and a few new ceiling panels (or paint) will transform this diamond in the rough. Lots of outdoor space, too on this lot with a really nice green space right outside your front deck. Watch the kids or pups play from the covered front or back porch areas. Pets welcome, kids welcome. The master bedroom and bath are adjacent to the family room and kitchen. This unique unit also has a beautiful vintage stone fireplace - perfect for those chilly PNW nights!! Two more bedrooms at the opposite side of the home - full bath adjacent to a large living room. A perfect roommate set up providing privacy. All appliances included (washer, dryer, stove, fridge, dishwasher) and two rough Tough Sheds outside for extra storage. Brand new roof in 2022! This is your chance to own a piece of Vancouver at an entry level price of $115,000.Cash buyers encouraged. Make an offer!!!!!! Very motivated seller (estate).

18. 2025-09-18
    listed $130,000 Active 1372-char remark

    Show marketing remark (1372 chars)

    Location, location, location! Grab this great opportunity to own affordable housing in a popular Vancouver, Washington area.This all age mobile home park is just 10 minutes from: • Portland international airport • Grocery stores • Department stores • Dining • Activity centers • Senior centers • Hospital • Parks1848 sq foot unit, with so much potential. Bring 5 gallons of paint and your coveralls. Fresh paint, new flooring and a few new ceiling panels (or paint) will transform this diamond in the rough. Lots of outdoor space, too on this lot with a really nice green space right outside your front deck. Watch the kids or pups play from the covered front or back porch areas. Pets welcome, kids welcome. The master bedroom and bath are adjacent to the family room and kitchen. This unique unit also has a beautiful vintage stone fireplace - perfect for those chilly PNW nights!! Two more bedrooms at the opposite side of the home - full bath adjacent to a large living room. A perfect roommate set up providing privacy. All appliances included (washer, dryer, stove, fridge, dishwasher) and two rough Tough Sheds outside for extra storage. Brand new roof in 2022! This is your chance to own a piece of Vancouver at an entry level price of $115,000.Cash buyers encouraged. Make an offer!!!!!! Very motivated seller (estate).

ⓘ 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: $427 · $36/mo
• Projected year-2 tax: $882 · $74/mo
• Expected delta: +$455/yr (+$38/mo · 106.6%)

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

Taxation est. · year 1

• Rental income: $32,949
• − Mortgage interest: −$5,041
• − Property taxes: −$427
• − Insurance: −$450
• − Repairs & maintenance: −$2,636
• − Management: −$2,636
• − Depreciation: −$2,618
• Taxable income: $19,141
• Est. tax owed @ 24.0%: −$4,594
• After-tax cash flow: $14,896/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: Evergreen School District (Clark)
• NCES district ID: 5302700
• Math proficiency: 41% ▼ -3.00%
• Reading proficiency: 51% ▼ -3.00%
• Median HH income: $59,418
• Composite: 42.53/100
• National rank: #6859
• State rank: #164 of 291 in WA

Livability — Vancouver

• Score: 82/100
• State rank: #62
• US rank: #1133

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Clark County · 513,189 people
• City population: 360,195
• Metro: Portland-Vancouver-Hillsboro, OR-WA
• Population (ZIP): 37,298
• Household income: $90,620
• Rent vs Own: 46.6% rent · 53.4% own
• Severe rent burden: 1481.0

Population outlook (Clark County) Hauer SSP2

• Today (2025): 529,610 people
• By 2030: 563,242 · +6.4%
• By 2040: 625,905 · +18.2%
• By 2050: 681,558 · +28.7%
• By 2075: 805,967 · +52.2%
• By 2100: 877,450 · +65.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: White 64% Hispanic / Latino 17% Two or more races 14% Asian 6% Pacific Islander 3% Black 2%
• Hispanic origin (detail): Mexican 12%
• Common ancestry: Portuguese 4% Slovak 3% Iranian 2%
• Foreign-born: 16% · Canada, China, Vietnam
• Languages at home: 77% English-only · Spanish 10% Other Asian/Pacific 3% Russian/Polish/Slavic 3%

Political lean MEDSL · Clark

• 2024 margin: Lean D (+7.0) · D 52.1% · R 45.1% · Other 2.8%
• 2008→2024 swing: +0.9pp no change · 2008: 6.1pp · 2024: 7.0pp
• All cycles: 2024: D+7.0 2020: D+5.1 2016: D+0.1 2012: D+0.1 2008: D+6.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -237.93%
• Current HPI: 290.416
• Rent YoY: ▲ 1.16%
• Metro: Portland-Vancouver-Hillsboro, OR-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

-11.5% since first listed

5 events — show timeline

• 2026-04-28 Price Changed $115,000 RMLS
• 2026-03-26 Price Changed $125,000 RMLS
• 2026-01-31 Relisted — RMLS
• 2026-01-19 Pending — RMLS
• 2025-09-18 Listed $130,000 RMLS

Property tax history

+4.6%/yr

Latest (2026): $427 · +65.7% YoY. Source: county tax records.