18289 E State Route 3 (WA-3) #20 · Allyn, WA 98524

$75,000

1 bd · 1.0 ba · 620 sqft · Manufactured · 40 Days on market

Built 1987 Good condition

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Condition / age +3.8/5.0
• Schools +3.5/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Water Views & Easy Living – 55+ Community in Allyn! Enjoy the simplicity of low-maintenance living paired with beautiful water views in this fully remodeled manufactured home in the heart of Allyn. Located in a welcoming 55+ community, this home offers comfort, convenience, and style—all in one package. Step inside to find a thoughtfully updated interior that’s move-in ready, so you can skip the projects and start enjoying your new space right away. The enclosed porch is a standout feature, offering the perfect spot to take in peaceful water views—whether it’s morning coffee or winding down at sunset. Outside, the spacious, mostly fenced yard provides roo

Key facts

• Garage
• Built 1987
• Listed 40 days

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath manufactured listed at $75k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $693 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $75k).
• Recommended offer: $73k (3.0% below list) — sets the bar for market timing.
• Cap rate 17.4% vs local median 3.1% in Allyn — 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 68/100 on livability (#287 in WA) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: health & safety C-, schools D-, amenities F.
• North Mason School District (rural): math 32% / reading 41% proficiency, ranked #233 of 291 in WA (top 80%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 91 active listings in the ZIP; 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 $519 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $21k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 40 days — a 3% lower offer ($73k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 16y ago; this cycle's ask has dropped $15k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $15k; list at $75k implies a 400% gain — meaningful room to come down on a strong offer.

Recommended offer $72,750 (3.0% below list)

Questions for the listing agent

1. It's been on market 40 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 2.04% ✓
• Cap rate: 17.38%
• Cash-on-cash: 39.61%
• DSCR: 2.76
• GRM: 4.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 35.9%
• Equity multiple: 2.52×
• Total profit: $32,018
• Equity at exit: $11,183

10-year hold

• IRR: 42.6%
• Equity multiple: 5.04×
• Total profit: $84,822
• Equity at exit: $6,485

Cash invested: $21,000 (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 98524

• Active inventory: 91
• Price-to-rent: 4.1×

Monthly cashflow live

• Estimated rent: $1,534 medium
• Mortgage (P&I): −$393
• Tax est. 1.5%: −$94 /mo · $1,125/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$322
• Net cashflow: $693

Break-even live

Break-even rent $656

Max offer price $75,000

Occupancy floor 50%

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-06-18
   days on market $75,000 Active 40 DOM
2. 2026-06-17
   days on market $75,000 Active 39 DOM
3. 2026-06-16
   days on market $75,000 Active 38 DOM
4. 2026-06-15
   price $75,000 Active 37 DOM
5. 2026-06-15
   days on market $85,000 Active 37 DOM
6. 2026-06-14
   days on market $85,000 Active 35 DOM
7. 2026-06-13
   status $85,000 Active 34 DOM
8. 2026-05-09
   price $85,000
9. 2026-04-17
   listed $90,000 Active
10. 2010-08-31
    soldstatus $15,000 Sold
11. 2010-08-25
    status Pending
12. 2010-07-06
    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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥87°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 6/10 Major 7 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,402
• − Mortgage interest: −$4,201
• − Property taxes: −$1,125
• − Insurance: −$375
• − Repairs & maintenance: −$1,472
• − Management: −$1,472
• − Depreciation: −$2,182
• Taxable income: $7,575
• Est. tax owed @ 24.0%: −$1,818
• After-tax cash flow: $6,500/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 · 13 photos

Good 75/100 Cosmetic rehab

This fully remodeled manufactured home is in good condition with a good condition score of 75. It is move-in ready and offers a good ROI with minimal repairs needed.

Value-add opportunities

• Resale Painting the exterior — Enhances curb appeal and can increase the home's value.
• Rental Landscaping the yard — Improves the property's rental appeal and can attract more tenants.

Renovation cost estimate screening

Value-add ROI direction

• Resale Painting the exterior — Enhances curb appeal and can increase the home's value. ↑
• Rental Landscaping the yard — Improves the property's rental appeal and can attract more tenants. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: North Mason School District
• NCES district ID: 5305790
• Math proficiency: 32% ▼ -4.00%
• Reading proficiency: 41% ▼ -5.00%
• Median HH income: $55,458
• Composite: 34.67/100
• National rank: #10069
• State rank: #233 of 291 in WA

Livability — Allyn

• Score: 68/100
• State rank: #287
• US rank: #10039

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Allyn, WA
• Population (ZIP): 4,585

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 (84%)
• Race & ethnicity: White 84% Two or more races 11% Hispanic / Latino 10% Asian 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 1%
• Common ancestry: Italian 10% Slovak 9% Portuguese 4%
• Foreign-born: 5% · Canada, Jamaica
• Languages at home: 93% English-only · Spanish 4% German/W. Germanic 1% Tagalog/Filipino 1%

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: ▼ -154.76%
• Current HPI: 183.7245
• 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

+240.0% since first listed

5 events — show timeline

• 2026-05-09 Price Changed $85,000 NWMLS as Distributed by MLS Grid
• 2026-04-17 Listed $90,000 NWMLS as Distributed by MLS Grid
• 2010-08-31 Sold (MLS) $15,000 NWMLS as Distributed by MLS Grid
• 2010-08-25 Pending — NWMLS as Distributed by MLS Grid
• 2010-07-06 Listed $25,000 NWMLS as Distributed by MLS Grid