2 Dasher · Shelton, WA
Flood risk 6/10 · Moderate
- FEMA flood zone
- X (unshaded)
- Chance of flooding over 30 yrs
- 0.75%
- Est. flood insurance / yr
- $507 – $1,088
Fire risk 3/10 · Minor
- Est. fire insurance / yr
- $604 – $1,122
Heat risk 3/10 · Minor
- Hot days now (above 88°F)
- 7 days/yr
- Hot days in 30 yrs
- 15 days/yr
Wind risk 1/10 · Minimal
- Chance of severe wind over 30 yrs
- —
Air-quality risk 7/10 · Major
- Unhealthy air days now
- 9 days/yr
- Unhealthy air days in 30 yrs
- 10 days/yr
Risk factors via First Street. Map © Google.
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 +16.8/30.0
- ARV discount +7.5/15.0
- DSCR +5.4/10.0
- 1% rule +5.0/10.0
- Condition / age +3.8/5.0
- Livability +3.7/5.0
- Schools +3.4/10.0
- Appreciation +2.5/10.0
- Rent growth +2.5/5.0
- Manufactured-home adj. -4.0
$129,950
2 Dasher · Shelton, WA 98584
2 bd · 2.0 ba · 1,152 sqft · Manufactured
Manufactured home
55+ age-restricted
Built 1977
$113/sqft
· 56% below area
↓ 20% since listing
🖨 Deal sheet (PDF) 📄 Offer letter ✓ Due diligence
Listing remarks
Welcome to Christmas Village one of Shelton's most sought-after 55+ communities. This move-in ready 2-bedroom, 2-bathroom home sits on a large corner lot and checks every box: brand new roof, thoughtful updates throughout, and a park-like yard featuring an apple tree, two plum trees, and a nut tree that blooms with the seasons. Both bathrooms have been beautifully updated, with a charming barn door adding a stylish touch to the primary suite. Cozy up to the wood burning stove in the living room on cool Pacific Northwest evenings. This home has character! Furnishings are negotiable, making this a true turnkey opportunity.
Key facts
- Freestanding stove
- Heat pump
- Newer appliances
Tags
Neighborhood map
Sold within
Property
Rental comp
Retail
Costco
Walmart
Transit
Schools
Stadiums
Fortune 500
· Circle radius: 6.0 mi
Loading POIs…
What this means for you Summary
Snapshot
- This is a 2-bed/2.0-bath manufactured listed at $130k. Condition is rated good.
Deal economics
- At list price, monthly cash flow is $127 ($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 $130k (0.2% below list).
- Recommended offer: $130k (0.2% below list) — sets the bar for 1% rule.
- Cap rate 7.5% vs local median 2.6% in Shelton — 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 73/100 on livability (#203 in WA) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, amenities A-; Watch: employment D+, crime F, commute F.
- Shelton School District (town): math 31% / reading 43% proficiency, ranked #237 of 291 in WA (top 81%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
- Zoned schools: Mountain View Elementary (676 students, 68% FRL); Shelton High School (1,473 students, 62% FRL).
- Market conditions: 689 active listings in the ZIP; solid renter incomes; 299 units permitted in Mason County in 2024 (0 in 5+ unit buildings).
Forward outlook
- Local home prices are declining (-3.0%/yr); year-one equity from $898 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
- Mason County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
Negotiation context
- Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
- 4 sale attempts since 3y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
- Current owner paid $113k; 15% above their basis — modest negotiation headroom, anchor on the comps not their cost.
Risks & watch-outs
- Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.
Recommended offer
$129,702
(0.2% below list)
Questions for the listing agent
- Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
- Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
- 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?
- 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?
- 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?
- 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.
- 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.
- 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
- 1.00% ✗
- Cap rate
- 7.46%
- Cash-on-cash
- 4.17%
- DSCR
- 1.19
- GRM
- 8.3
CMA / ARV
- ARV (median comp)
- $298,727
- List price
- $129,950
- Delta
- -56.50%
- Verdict
- UNDERPRICED
- Comps
- 7 within 2.0 mi
Show comp detail 5 sales within ~0.75 mi
| Address | Dist | Beds/Ba | Sqft | Sold | Price | $/sf | Match |
|---|---|---|---|---|---|---|---|
| 2 Dasher Dr | 0.00mi | 2/2.0 | 1,152 (0%) | 23mo | $113,000 | $98 | 81 |
| 14 Holly Rd | 0.07mi | 2/2.0 | 1,188 (+3%) | 15mo | $140,000 | $118 | 79 |
| 3 Dasher Dr | 0.03mi | 2/2.0 | 1,248 (+8%) | 22mo | $77,500 | $62 | 66 |
| 1 Holly Rd | 0.09mi | 2/2.0 | 1,248 (+8%) | 23mo | $120,000 | $96 | 63 |
| 103 Rosemary St | 0.75mi | 3/2.0 (+1) | 1,296 (+12%) | 11mo | $333,000 | $257 | 30 |
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
- $-12,975
- Equity at exit
- $19,376
10-year hold
- IRR
- -0.3%
- Equity multiple
- 0.98×
- Total profit
- $-837
- Equity at exit
- $11,236
Cash invested: $36,386 (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.
Buyer's market
Market conditions
within 1.0 mi — comparable homes for sale
Active competition Active MLS
- For sale now
- 2 active · 1 under contract
- Months of supply
- 12.0 mo (8%/mo absorbed)
- Median asking
- $208,000 ($147/sqft)
- This list price
- lowest-priced of the active set
- ARV vs active asking
- +76.9% above current asking $/sqft
Closed sales set the value; these active listings set current market conditions and a practical price ceiling.
ZIP-level market 98584
- Active inventory
- 689
- Price-to-rent
- 8.3×
Monthly cashflow live
↻
- Estimated rent
- $1,297 medium interval (Pro) →
- Mortgage (P&I)
- −$681
- Tax est. 1.5%
- −$162 /mo · $1,949/yr
- Insurance
- −$54
- HOA
- −$0
- Lot rent leased land?
- −$0
- Vacancy / Maint / Mgmt
- −$272
- Net cashflow
- $127
Break-even live
Break-even rent
$1,137
Max offer price
$129,950
Occupancy floor
85%
Sensitivity live
| Price | -10% $216 | -5% $171 | +0% $127 | +5% $82 | +10% $37 |
|---|---|---|---|---|---|
| Rent | -10% $24 | -5% $75 | +0% $127 | +5% $178 | +10% $229 |
| Rate | -1.0pp $192 | -0.5pp $160 | base $127 | +0.5pp $93 | +1.0pp $59 |
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
- $32,488
- Closing costs
- $3,898
- Club membership (one-time)
- —
- Reserves months
- —
- Total cash needed
- —
Loan-product check · same deal, 3 products live
Conventional
25% down · 7.5% · 30yr
- Cash invested
- —
- Monthly P&I
- —
- Monthly cashflow
- —
- DSCR
- —
- Eligible?
- —
Personal DTI + credit; lowest rate.
DSCR
20% down · 8.5% · 30yr
- Cash invested
- —
- Monthly P&I
- —
- Monthly cashflow
- —
- DSCR
- —
- Eligible?
- —
No personal income docs; deal must DSCR.
Hard money
10% down · 12.0% · 12mo
- Cash invested
- —
- Monthly P&I
- —
- Monthly cashflow
- —
- DSCR
- —
- Eligible?
- —
Short-term bridge; refi at stabilization.
Property features AI
Finance
- Financial info
- Listing terms: Cash or ConventionalLand lease: $725
- HOA & community
- Senior communityPark name: Christmas VillageApproximately 104 homes in parkPark approved for sale
Exterior
- Parking
- Carport
- Utilities
- Public water (City of Shelton)Public sewer (City of Shelton)Electric service (PUD #3)
- Home design
- Manufactured home (double wide)One levelAllen Bayfront modelMobile home remainsTie-down foundation
- Construction
- Metal/vinyl exteriorComposition roof
- Exterior features
- Corner lotPavedPatio/porch/deckClubhouse (park amenity)Has view
Interior
- Kitchen
- DishwasherMicrowaveRefrigeratorStove/Range
- Bedrooms
- 2 bedrooms
- Flooring
- Vinyl plankCarpet
- Bathrooms
- 1 full bath1 three-quarter bath1 bathtub1 shower
- Heating & cooling
- Forced air heatingStove / free-standing heatingNo cooling
- Interior features
- FireplaceWater heater (electric)
- Laundry & utility
- Utility roomWater heater located with access in carport
Listing history 44 events
-
2026-09-21days on market $129,950 Active
-
2026-09-20days on market $129,950 Active 17 DOM
-
2026-09-19days on market $129,950 Active 16 DOM
-
2026-09-18days on market $129,950 Active 15 DOM
-
2026-09-17days on market $129,950 Active 14 DOM
-
2026-09-16days on market $129,950 Active 13 DOM
-
2026-09-15days on market $129,950 Active 12 DOM
-
2026-09-14days on market $129,950 Active 11 DOM
-
2026-09-13days on market $129,950 Active 10 DOM
-
2026-09-12days on market $129,950 Active 9 DOM
-
2026-09-11pricedays on market $129,950 Active 8 DOM
-
2026-09-05days on market $135,000 Active 2 DOM
-
2026-09-03pricedays on market $135,000 Active 1 DOM
-
2026-06-19days on market $144,000 Active 48 DOM
-
2026-06-18days on market $144,000 Active 47 DOM
-
2026-06-17days on market $144,000 Active 46 DOM
-
2026-06-17price $144,000 Active 45 DOM
-
2026-06-16days on market $149,000 Active 45 DOM
-
2026-06-15days on market $149,000 Active 44 DOM
-
2026-06-14days on market $149,000 Active 42 DOM
-
2026-06-12days on market $149,000 Active 41 DOM
-
2026-06-09days on market $149,000 Active 38 DOM
-
2026-06-08days on market $149,000 Active 37 DOM
-
2026-06-07days on market $149,000 Active 36 DOM
-
2026-06-02days on market $149,000 Active 31 DOM
-
2026-06-01days on market $149,000 Active 30 DOM
-
2026-05-31days on market $149,000 Active 29 DOM
-
2026-05-30days on market $149,000 Active 28 DOM
-
2026-05-02$159,000 Active
-
2024-11-01soldstatus $113,000 Closed
-
2024-10-22status Pending
-
2024-10-16price $119,977
-
2024-07-17price $125,000
-
2024-07-03status Active
-
2024-07-01historical
-
2024-05-26price $134,900
-
2024-04-15price $139,900
-
2024-02-22price $149,997
-
2024-01-05price $158,500
-
2023-12-21price $165,900
-
2023-11-18status Active
-
2023-11-14status Pending
-
2023-11-09price $157,000
-
2023-10-16$169,000 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 6/10 Major FEMA zone X (unshaded) · 75% chance over 30 yrs
- Wildfire 3/10 Moderate
- Heat 3/10 Moderate 7 d/yr ≥88°F today · 15 d/yr by 30 yrs out
- Wind 1/10 Low
- Air quality 7/10 Severe 9 unhealthy d/yr today · 10 by 30 yrs out
Nearby sold comps map
Loading sold comps map…
Walkable amenities ~0.75 mi
Loading nearby amenities…
Taxation est. · year 1
- Rental income
- $15,564
- − Mortgage interest
- −$7,279
- − Property taxes
- −$1,949
- − Insurance
- −$650
- − Repairs & maintenance
- −$1,245
- − Management
- −$1,245
- − Depreciation
- −$3,780
- Taxable loss
- −$585
combined federal + state — saved on this device
- Est. tax savings @ 24.0%
- +$140
- After-tax cash flow
- $1,659/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.
Condition & rehab AI · 12 photos
75/100
Cosmetic rehab
Est. rehab $5,760–$17,280 screening
This move-in ready 2-bedroom, 2-bathroom home in Christmas Village, Shelton, WA, features a new roof, updated bathrooms, and hardwood floors. It's in good condition with minor cosmetic updates needed for optimal resale and rental value.
Value-add opportunities
- Resale Paint exterior — Enhances curb appeal and value ↑
- Resale Replace light fixtures — Improves curb appeal and enhances home's aesthetic ↑
- Both Replace flooring — Hardwood floors are in good condition but could be refreshed ↑
- Both Replace countertops — Updated countertops are in good condition but could be refreshed ↑
ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.
Zoned Schools
Elementary
Mountain View Elementary
Middle
Oakland Bay Junior High School
High
Shelton High School
Schools (NCES district)
- District
- Shelton School District
- NCES district ID
- 5307900
- Math proficiency
- 31% ▼ -1.00%
- Reading proficiency
- 43% ▼ -3.00%
- Median HH income
- $45,467
- Composite
- 34.1/100
- National rank
- #10288
- State rank
- #237 of 291 in WA
B
Composite livability gradescore 73/100
Livability — Shelton
- Score
- 73/100
- State rank
- #203
- US rank
- #5586
Category grades
Amenities A-
Commute F
Cost of living A-
Crime F
Employment D+
Housing A+
Health & safety A+
User ratings C
Schools grade is shown separately in the Schools card above.
Census & demographics
- Census place
- Shelton, WA
- County
- Mason County · 60,005 people
- City population
- 40,606
- Metro
- Shelton, WA
- Population (ZIP)
- 40,606
- Household income
- $78,610
- Rent vs Own
- Severe rent burden
- 6% of renters
Population outlook (Mason County) Hauer SSP2
- Today (2025)
- 60,005 people
- By 2030
- 58,567 · -2.4%
- By 2040
- 54,735 · -8.8%
- By 2050
- 51,470 · -14.2%
- By 2075
- 46,276 · -22.9%
- By 2100
- 39,883 · -33.5%
Race, ethnicity, and origin ACS 2023
- Neighborhood character
- Predominantly White (72%)
- Race & ethnicity
- White 72% Hispanic / Latino 15% Two or more races 11% Native American 3%
- Hispanic origin (detail)
- Mexican 8%
- Common ancestry
- Portuguese 4% Slovak 3% Italian 2%
- Foreign-born
- 8% · Canada
- Languages at home
- 88% English-only · Spanish 10%
Political lean MEDSL · Mason
- 2024 margin
- Toss-up / Even · D 47.2% · R 49.7% · Other 3.2%
- 2008→2024 swing
- -11.2pp toward R · 2008: 8.7pp · 2024: -2.5pp
- All cycles
- 2024: R+2.5 2020: R+3.9 2016: R+6.0 2012: D+6.9 2008: D+8.7
Not yet ingested
- Civics
- —
Market trends
- HPI YoY
- ▼ -232.42%
- Current HPI
- 199.0698
- Rent YoY
- —
- Metro
- Shelton, 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 |
|
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Price history
-20.1% since first listed16 events — show timeline
- 2026-09-03 Listed $135,000 NWMLS as Distributed by MLS Grid
- 2024-11-01 Sold (MLS) $113,000 NWMLS as Distributed by MLS Grid
- 2024-10-22 Pending — NWMLS as Distributed by MLS Grid
- 2024-10-16 Price Changed $119,977 NWMLS as Distributed by MLS Grid
- 2024-07-17 Price Changed $125,000 NWMLS as Distributed by MLS Grid
- 2024-07-03 Relisted — NWMLS as Distributed by MLS Grid
- 2024-07-01 Delisted — NWMLS as Distributed by MLS Grid
- 2024-05-26 Price Changed $134,900 NWMLS as Distributed by MLS Grid
- 2024-04-15 Price Changed $139,900 NWMLS as Distributed by MLS Grid
- 2024-02-22 Price Changed $149,997 NWMLS as Distributed by MLS Grid
- 2024-01-05 Price Changed $158,500 NWMLS as Distributed by MLS Grid
- 2023-12-21 Price Changed $165,900 NWMLS as Distributed by MLS Grid
- 2023-11-18 Relisted — NWMLS as Distributed by MLS Grid
- 2023-11-14 Pending — NWMLS as Distributed by MLS Grid
- 2023-11-09 Price Changed $157,000 NWMLS as Distributed by MLS Grid
- 2023-10-16 Listed $169,000 NWMLS as Distributed by MLS Grid
Cash-flow waterfall
monthlySold comps — $/sqft
last 12 mo · ≤1 miLoading sold comps…