17930 Albany St SW #51 · Rochester, WA 98579

$25,000

2 bd · 1.0 ba · 952 sqft · Manufactured public records · 6 Days on market

Built 1974

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Why this score? — see what drove the D+ 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +4.9/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Come check out this fantastic home! Unit #51 offers a great opportunity to invest, or enjoy as-is. This home is ready to be loved by its new owners, offering everything you need to move in right away and take your time while making improvements to your liking. The fabulous layout, boasting nearly 1,000 sq ft, allows you 2 bedrooms of good size, a full bath, large living room, and a very spacious kitchen and dining room. Large windows fill every room with natural light, while the mini split offers heating and cooling throughout. Ductless mini split and hot water heater are newer, within last 3 years. Outside you'll find a sweet covered deck, well-sized lots with plenty of grassy space to enj

Key facts

• Parking
• Built 1974
• Listed 6 days

Property features AI

Finance

• Other: Assessor-provided building area: 952; Lot size reported as 0 acres (see listing details)
• Financial info: Cash offers only
• HOA & community: Located in Carriage Club (park approval to sell required); Land lease of $745

Exterior

• Parking: Uncovered parking
• Utilities: Electric energy source; Public water (see remarks); Septic sewer; Power provided by PSE; Cable: Comcast; Internet: Xfinity
• Home design: Manufactured home (single wide); Fleetwood Broadmore 68/14 model; One story; Good condition; Mobile home remains
• Construction: Metal/vinyl and wood construction materials; Skirted with metal and vinyl; See remarks for roof and foundation details; Manufactured house structure type
• Exterior features: Metal/vinyl and wood exterior; Patio/porch/deck; Storage shed behind home; Has a view

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator; Stove/Range
• Bedrooms: 2 bedrooms
• Flooring: Laminate; Vinyl; Carpet
• Bathrooms: 1 full bathroom with tub and shower
• Heating & cooling: Ductless heating; Has cooling
• Interior features: Water heater; Dining room; Living room; Kitchen without eating space
• Laundry & utility: Exterior electric water heater (south side of home)

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $25k.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $25k).
• Cap rate 69.4% vs local median 2.1% in Rochester — 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 66/100 on livability (#327 in WA) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime B; Watch: health & safety C-, amenities F, commute F.
• Rochester School District (rural): math 53% / reading 57% proficiency, ranked #97 of 291 in WA (top 33%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 107 active listings in the ZIP; 1,222 units permitted in Thurston County in 2024 (508 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $173 of loan paydown is wiped out by about $750 of value loss. Plan a longer hold.
• Thurston County population projected at +27% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $7k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

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

Recommended offer $25,000

Questions for the listing agent

1. Built in 1974 — 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. 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?
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: 7.53% ✓
• Cap rate: 69.39%
• Cash-on-cash: 225.36%
• DSCR: 11.03
• GRM: 1.1

CMA / ARV

• ARV (on-the-fly): $92,344
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
17930 Albany St SW #51	0.00mi	2/1.0	952 (0%)	1mo	$22,000	$23	100
17925 Jordan St SW	0.43mi	2/2.0	896 (-6%)	12mo	$270,000	$301	56
10239 185TH Ave #1	0.61mi	2/1.0	896 (-6%)	10mo	$50,000	$56	53
10239 185th Ave SW #45	0.64mi	2/2.0	896 (-6%)	4mo	$87,000	$97	53
9712 178th Way SW	0.45mi	1/1.0 (-1)	864 (-9%)	13mo	$215,000	$249	47

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: —
• Equity multiple: 12.39×
• Total profit: $79,705
• Equity at exit: $3,728

10-year hold

• IRR: —
• Equity multiple: 26.33×
• Total profit: $177,334
• Equity at exit: $2,162

Cash invested: $7,000 (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 98579

• Home prices YoY: -34.1%
• Active inventory: 107
• Price-to-rent: 1.1×

Monthly cashflow live

• Estimated rent: $1,883 medium
• Mortgage (P&I): −$131
• Tax est. 1.5%: −$31 /mo · $375/yr
• Insurance: −$10
• HOA: −$0
• Vacancy / Maint / Mgmt: −$395
• Net cashflow: $1,315

Break-even live

Break-even rent $219

Max offer price $25,000

Occupancy floor 25%

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: $6,250
• Closing costs: $750
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-05-06
   status Pending
2. 2026-04-30
   listed $25,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 59% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥89°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 6/10 Major 7 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,593
• − Mortgage interest: −$1,400
• − Property taxes: −$375
• − Insurance: −$125
• − Repairs & maintenance: −$1,807
• − Management: −$1,807
• − Depreciation: −$727
• Taxable income: $16,350
• Est. tax owed @ 24.0%: −$3,924
• After-tax cash flow: $11,851/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: Rochester School District
• NCES district ID: 5307470
• Math proficiency: 53% ▲ 5.00%
• Reading proficiency: 57% ▲ 1.00%
• Median HH income: $56,231
• Composite: 49.33/100
• National rank: #4348
• State rank: #97 of 291 in WA

Livability — Rochester

• Score: 66/100
• State rank: #327
• US rank: #12271

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 13,907

Population outlook (Thurston County) Hauer SSP2

• Today (2025): 308,239 people
• By 2030: 326,483 · +5.9%
• By 2040: 359,890 · +16.8%
• By 2050: 391,800 · +27.1%
• By 2075: 468,024 · +51.8%
• By 2100: 519,890 · +68.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (81%)
• Race & ethnicity: White 81% Hispanic / Latino 10% Two or more races 10% Native American 1%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Portuguese 4% Slovak 4% Italian 3%
• Foreign-born: 5% · Canada
• Languages at home: 93% English-only · Spanish 7%

Political lean MEDSL · Thurston

• 2024 margin: Strong D (+20.4) · D 58.5% · R 38.1% · Other 3.5%
• 2008→2024 swing: -1.3pp toward R · 2008: 21.7pp · 2024: 20.4pp
• All cycles: 2024: D+20.4 2020: D+18.6 2016: D+15.4 2012: D+19.0 2008: D+21.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -197.25%
• Current HPI: 381.8969
• 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

2 events — show timeline

• 2026-05-06 Pending — NWMLS as Distributed by MLS Grid
• 2026-04-30 Listed $25,000 NWMLS as Distributed by MLS Grid

Property tax history

-14.9%/yr

Latest (2026): $15 · +26.4% YoY. Source: county tax records.