507 NE 99th St · Hazel Dell, WA 98665

$124,900

2 bd · 2.0 ba · 1,166 sqft · Land · 114 Days on market

Built 1985

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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
• DSCR +10.0/10.0
• 1% rule +9.2/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +4.1/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Desirable Meadow Verde 55+ Wonderful Community in Hazel Dell area of Vancouver. 3 bedrooms (3rd used as den) Beautiful Kitchen w/Quartz counters, Open & spacous w/Vaulted Ceilings. Newer Roof & Heat pump, Updated windows, Gorgeous walk in shower in Primary. Private low maintenance Courtyard Patio. Extra deep covered parking. Conveniently located to shopping (Winco, Target, Kohls), bus line, restaurants, etc. Nearby Legacy Hospital & Clinics! Community has guest parking & a private park.

Key facts

• Gated access
• Raised garden beds
• Updated kitchen

Tags

• UPDATED KITCHEN
• STAINLESS STEEL APPLIANCES
• RAISED GARDEN BEDS
• GATED ACCESS

Property features AI

Finance

• Other: Property listed as residential, manufactured home in a park; Main level living area reported
• Financial info: Land lease expires Friday, February 27, 2026
• HOA & community: Land lease in effect (monthly lot rent); Not a senior community

Exterior

• Parking: Carport (1 space)
• Utilities: Public water; Public sewer; Electric service; Cable and satellite internet available
• Home design: Manufactured home in park (detached); One level; Updated/remodeled condition; Built in 1985
• Construction: Wood siding exterior; Composition roof; Skirting foundation
• Exterior features: Covered patio; Porch; Tool shed; Yard; Level lot; Paved road access; City view

Interior

• Kitchen: Built-in oven; Built-in refrigerator; Dishwasher; Eat bar; Range hood; Double sinks; Solid surface countertops; Stainless steel appliances; Updated/remodeled kitchen
• Bedrooms: Primary bedroom on main with updated bathroom, bathtub with shower, closet, and wall-to-wall carpet; Second bedroom on main, updated/remodeled with closet and wall-to-wall carpet
• Flooring: Luxury vinyl plank; Vinyl floor in dining area; Wall-to-wall carpet in living areas/bedrooms
• Bathrooms: Two full bathrooms, both on the main level
• Heating & cooling: Forced air heating; Central air conditioning; Electric hot water
• Interior features: High ceilings; Updated/remodeled interior; Laundry; Accessibility features including minimal steps and utility room on main; Aluminum-framed windows; Crawl space basement/skirting
• Laundry & utility: Main-level laundry (updated/remodeled)

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath land listed at $125k.

Deal economics

• At list price, monthly cash flow is $536 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Recommended offer: $114k (9.0% below list) — sets the bar for market timing.
• Cap rate 11.4% vs local median 3.2% in Hazel Dell — 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 (#67 in WA, #1,216 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, housing A+; Watch: crime D+, cost of living D.
• Vancouver School District (suburban): math 43% / reading 53% proficiency, ranked #156 of 291 in WA (top 54%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Dwight D Eisenhower Elementary (475 students, 48% FRL); Thomas Jefferson Middle School (743 students, 36% FRL); Columbia River High (1,134 students, 32% FRL).
• Market conditions: Rents rising (+2.0%/yr); 187 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 8d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 3,547 units permitted in Clark County in 2024 (1,361 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $864 of loan paydown is wiped out by about $4k 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 + 2.0% rent growth), your $35k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 114 days — a 9% lower offer ($114k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 24y 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.

Recommended offer $113,659 (9.0% below list)

Questions for the listing agent

1. It's been on market 114 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. Crime grade is D 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?
6. 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.
7. 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.
8. 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: 1.42% ✓
• Cap rate: 11.45%
• Cash-on-cash: 18.41%
• DSCR: 1.82
• GRM: 5.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.0% rent growth · sell at horizon

5-year hold

• IRR: 9.0%
• Equity multiple: 1.35×
• Total profit: $12,190
• Equity at exit: $18,623

10-year hold

• IRR: 17.3%
• Equity multiple: 2.36×
• Total profit: $47,620
• Equity at exit: $10,799

Cash invested: $34,972 (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 98665

• Rents YoY: 2.0%
• Active inventory: 187
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $1,772 high
• Mortgage (P&I): −$655
• Tax est. 1.5%: −$156 /mo · $1,874/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$372
• Net cashflow: $536

Break-even live

Break-even rent $1,093

Max offer price $124,900

Occupancy floor 65%

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: $31,225
• Closing costs: $3,747
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10223 NE Notchlog Dr Vancouver, WA	2.0	1.0	665	$1,646	$2.48	7d	1	0.26mi
10117 NE 9th Ave Vancouver, WA	1.0–2.0	1.0–2.0	790	$1,470	$1.86	2d	8	0.27mi
345 NE 105th St Vancouver, WA	3.0	1.5	1260	$2,350	$1.87	4d	1	0.33mi
9917 NE 13th Ave Vancouver, WA	2.0	1.0	707	$1,645	$2.33	2d	4	0.40mi
10316 NE Stutz Rd Vancouver, WA	2.0	1.0	880	$1,300	$1.48	23d	1	0.41mi
1115 NE 105th St Vancouver, WA	1.0–2.0	1.0–2.0	835	$1,615	$1.93	7d	6	0.45mi
608 NE 86th St Vancouver, WA	2.0	2.0	1031	$1,825	$1.77	2d	1	0.48mi
405 NE 85th St Vancouver, WA	2.0	1.5	1116	$2,299	$2.06	2d	1	0.49mi
932 NE 86th St Vancouver, WA	2.0	1.0	700	$1,295	$1.85	23d	1	0.51mi
928 NE 86th St Vancouver, WA	2.0	1.0	700	$1,250	$1.79	10d	1	0.52mi
1008 NE 86th St Vancouver, WA	2.0	1.0	700	$1,395	$1.99	23d	1	0.52mi
1016 NE 86th St Vancouver, WA	2.0	1.0	950	$1,475	$1.55	23d	1	0.52mi
10223 NE 13th Ave Vancouver, WA	2.0	2.0	850	$1,675	$1.97	23d	1	0.54mi
9211 NE 15th Ave Vancouver, WA	1.0–3.0	1.0–2.0	900	$1,649	$1.83	2d	22	0.54mi
8415 NE Hazel Dell Ave Vancouver, WA	2.0–3.0	1.0	871	$1,500	$1.72	1d	4	0.60mi
8917 NE 15th Ave Vancouver, WA	2.0	1.0	850	$1,395	$1.64	1d	11	0.60mi
8500 NE Hazel Dell Ave Vancouver, WA	1.0–2.0	1.0–2.0	837	$1,675	$2.00	10d	2	0.60mi
1801 NE 99th St Unit 9802-6 Vancouver, WA	2.0	1.5	910	$1,395	$1.53	23d	1	0.61mi
1405 NE 88th St Vancouver, WA	1.0	1.0	733	$1,550	$2.11	23d	1	0.63mi
1532 NE 87th Way Vancouver, WA	3.0	2.5	1418	$2,295	$1.62	23d	1	0.65mi
9501 NE 19th Ave Vancouver, WA	1.0–2.0	1.0–2.5	844	$2,099	$2.49	3d	20	0.68mi
1824 NE 104th Loop Vancouver, WA	2.0	1.0	847	$1,420	$1.68	23d	1	0.70mi
1106 NE 83rd St Vancouver, WA	1.0–3.0	1.0–2.5	1058	$1,932	$1.83	20d	1	0.71mi
8208 NE 13th Ave Vancouver, WA	2.0	1.0	750	$1,450	$1.93	23d	1	0.78mi
1437 NE 82nd Dr Vancouver, WA	3.0	2.5	1500	$2,695	$1.80	2d	1	0.86mi
8003 NE 13th Ave Vancouver, WA	1.0–2.0	1.0–2.0	845	$2,045	$2.42	7d	16	0.89mi
8601 NE 21st Ave Unit D Vancouver, WA	3.0	2.5	1155	$2,200	$1.90	14d	1	0.92mi
8601 NE 21st Ave Unit D Vancouver, WA	3.0	2.5	1155	$2,200	$1.90	12d	1	0.92mi
8005 NE 13th Ave Vancouver, WA	1.0–2.0	1.0–2.0	849	$2,045	$2.41	7d	14	0.95mi
7900 NE 18th Ave Vancouver, WA	1.0–3.0	1.0	755	$1,408	$1.86	1d	4	1.01mi
11201 NE Highway 99 Vancouver, WA	2.0	1.0	825	$1,359	$1.65	7d	1	1.03mi
145 NW 76th St Vancouver, WA	3.0	2.5	1349	$2,245	$1.66	7d	1	1.08mi
2703 NE 99th St Vancouver, WA	1.0	1.0	800	$1,700	$2.12	4d	1	1.10mi
7317 NE Hazel Dell Ave #10 Vancouver, WA	2.0	1.0	1037	$1,395	$1.35	23d	1	1.12mi
7439 NE 13th Ave Vancouver, WA	2.0	1.0	817	$1,438	$1.76	21d	2	1.14mi
1800 NW 104th St Vancouver, WA	3.0	2.0	1406	$2,679	$1.91	2d	1	1.19mi
2301 NE 81st St Vancouver, WA	1.0–3.0	1.0–2.0	1080	$1,975	$1.83	1d	10	1.20mi
1612 NW 109th St Vancouver, WA	2.0	1.0	900	$2,800	$3.11	23d	1	1.23mi
7301 NE 13th Ave Vancouver, WA	2.0	1.0	840	$1,520	$1.81	3d	6	1.24mi
7306 NE 16th Ave #1 Vancouver, WA	2.0	1.0	988	$1,395	$1.41	23d	1	1.24mi

Listing history 34 events

1. 2026-05-15
   status Pending
2. 2026-02-20
   status Active
3. 2026-02-10
   status Pending
4. 2026-01-12
   listed $124,900 Active
5. 2022-11-01
   soldstatus $135,000 Closed 507-char remark

   Show marketing remark (507 chars)

   Desirable Meadow Verde 55+ Wonderful Community in Hazel Dell area of Vancouver. 3 bedrooms (3rd used as den) Beautiful Kitchen w/Quartz counters, Open & spacous w/Vaulted Ceilings. Newer Roof & Heat pump, Updated windows, Gorgeous walk in shower in Primary. Private low maintenance Courtyard Patio. Extra deep covered parking. Conveniently located to shopping (Winco, Target, Kohls), bus line, restaurants, etc. Nearby Legacy Hospital & Clinics! Community has guest parking & a private park.

6. 2022-10-01
   status Pending 507-char remark

   Show marketing remark (507 chars)

   Desirable Meadow Verde 55+ Wonderful Community in Hazel Dell area of Vancouver. 3 bedrooms (3rd used as den) Beautiful Kitchen w/Quartz counters, Open & spacous w/Vaulted Ceilings. Newer Roof & Heat pump, Updated windows, Gorgeous walk in shower in Primary. Private low maintenance Courtyard Patio. Extra deep covered parking. Conveniently located to shopping (Winco, Target, Kohls), bus line, restaurants, etc. Nearby Legacy Hospital & Clinics! Community has guest parking & a private park.

7. 2022-09-16
   listed $139,997 Active 507-char remark

   Show marketing remark (507 chars)

   Desirable Meadow Verde 55+ Wonderful Community in Hazel Dell area of Vancouver. 3 bedrooms (3rd used as den) Beautiful Kitchen w/Quartz counters, Open & spacous w/Vaulted Ceilings. Newer Roof & Heat pump, Updated windows, Gorgeous walk in shower in Primary. Private low maintenance Courtyard Patio. Extra deep covered parking. Conveniently located to shopping (Winco, Target, Kohls), bus line, restaurants, etc. Nearby Legacy Hospital & Clinics! Community has guest parking & a private park.

8. 2022-08-23
   soldstatus $40,000 Closed 436-char remark

   Show marketing remark (436 chars)

   Needs extensive work & sellers unable to do any of it. AS-IS! Little fenced backyard, plus a little office/shop attached to carport. Big living room, kitchen & dining room. This is ready for you to REDO. On a corner spot in a quiet 55+ community. Must get preapproved by park manager. $835 space rent $72.21 water, sewer, gbg. No showings 7/28-7/31 while family cleans out possessions. Pictures and cleaning will happen after!

9. 2022-08-02
   status Pending 436-char remark

   Show marketing remark (436 chars)

   Needs extensive work & sellers unable to do any of it. AS-IS! Little fenced backyard, plus a little office/shop attached to carport. Big living room, kitchen & dining room. This is ready for you to REDO. On a corner spot in a quiet 55+ community. Must get preapproved by park manager. $835 space rent $72.21 water, sewer, gbg. No showings 7/28-7/31 while family cleans out possessions. Pictures and cleaning will happen after!

10. 2022-07-14
    listed $80,000 Active 436-char remark

    Show marketing remark (436 chars)

    Needs extensive work & sellers unable to do any of it. AS-IS! Little fenced backyard, plus a little office/shop attached to carport. Big living room, kitchen & dining room. This is ready for you to REDO. On a corner spot in a quiet 55+ community. Must get preapproved by park manager. $835 space rent $72.21 water, sewer, gbg. No showings 7/28-7/31 while family cleans out possessions. Pictures and cleaning will happen after!

11. 2020-12-16
    soldstatus $107,000 Sold
12. 2020-11-10
    status Pending
13. 2020-10-26
    listed $112,000 Active
14. 2017-06-20
    soldstatus $69,900 Sold
15. 2017-05-21
    status Pending
16. 2017-05-19
    soldstatus $98,000 Sold
17. 2017-05-17
    price $69,900
18. 2017-04-24
    listed $94,900 Active
19. 2017-04-24
    status Pending
20. 2017-04-19
    listed $74,000 Active
21. 2017-02-27
    soldstatus $65,000
22. 2017-02-18
    historical
23. 2017-02-18
    listed $65,000
24. 2011-11-29
    soldstatus $57,500 Sold
25. 2011-11-16
    status Pending
26. 2011-10-18
    price $59,900
27. 2011-08-05
    price $61,900
28. 2011-04-25
    price $62,420
29. 2011-04-24
    listed $62,495 Active
30. 2002-05-06
    soldstatus $56,000
31. 2002-02-08
    listed $56,900
32. 1993-10-05
    soldstatus $21,000
33. 1993-09-09
    soldstatus $21,000
34. 1984-09-25
    soldstatus $402,815

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

Taxation est. · year 1

• Rental income: $21,260
• − Mortgage interest: −$6,996
• − Property taxes: −$1,874
• − Insurance: −$624
• − Repairs & maintenance: −$1,701
• − Management: −$1,701
• − Depreciation: −$3,633
• Taxable income: $4,731
• Est. tax owed @ 24.0%: −$1,135
• After-tax cash flow: $5,302/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: Vancouver School District
• NCES district ID: 5309270
• Math proficiency: 43% ▬ 0.00%
• Reading proficiency: 53% ▬ 0.00%
• Median HH income: $52,562
• Composite: 43.45/100
• National rank: #6479
• State rank: #156 of 291 in WA

Livability — Hazel Dell

• Score: 82/100
• State rank: #67
• US rank: #1216

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hazel Dell, WA
• County: Clark County · 513,189 people
• City population: 28,243
• Metro: Portland-Vancouver-Hillsboro, OR-WA
• Population (ZIP): 28,910
• Household income: $88,559
• Rent vs Own: 42.0% rent · 58.0% own
• Severe rent burden: 1070.0

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: Predominantly White (70%)
• Race & ethnicity: White 70% Hispanic / Latino 14% Two or more races 11% Asian 5% Black 3%
• Hispanic origin (detail): Mexican 12%
• Common ancestry: Portuguese 5% Italian 4% Slovak 3%
• Foreign-born: 12% · Canada, China
• Languages at home: 80% English-only · Spanish 9% Russian/Polish/Slavic 3% Other Asian/Pacific 2%

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: ▼ -274.20%
• Current HPI: 303.1342
• Rent YoY: ▲ 2.00%
• 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

-69.0% since first listed

34 events — show timeline

• 2026-05-15 Pending — RMLS
• 2026-02-20 Relisted — RMLS
• 2026-02-10 Pending — RMLS
• 2026-01-12 Listed $124,900 RMLS
• 2022-11-01 Sold (MLS) $135,000 RMLS
• 2022-10-01 Pending — RMLS
• 2022-09-16 Listed $139,997 RMLS
• 2022-08-23 Sold (MLS) $40,000 RMLS
• 2022-08-02 Pending — RMLS
• 2022-07-14 Listed $80,000 RMLS
• 2020-12-16 Sold (MLS) $107,000 RMLS
• 2020-11-10 Pending — RMLS
• 2020-10-26 Listed $112,000 RMLS
• 2017-06-20 Sold (MLS) $69,900 RMLS
• 2017-05-21 Pending — RMLS
• 2017-05-19 Sold (MLS) $98,000 RMLS
• 2017-05-17 Price Changed $69,900 RMLS
• 2017-04-24 Listed $94,900 RMLS
• 2017-04-24 Pending — RMLS
• 2017-04-19 Listed $74,000 RMLS
• 2017-02-27 Sold (MLS) $65,000 RMLS
• 2017-02-18 Listed $65,000 RMLS
• 2017-02-18 Delisted — RMLS
• 2011-11-29 Sold (MLS) $57,500 RMLS
• 2011-11-16 Pending — RMLS
• 2011-10-18 Price Changed $59,900 RMLS
• 2011-08-05 Price Changed $61,900 RMLS
• 2011-04-25 Price Changed $62,420 RMLS
• 2011-04-24 Listed $62,495 RMLS
• 2002-05-06 Sold (MLS) $56,000 RMLS
• 2002-02-08 Listed $56,900 RMLS
• 1993-10-05 Sold (Public Records) $21,000 Public Records
• 1993-09-09 Sold (Public Records) $21,000 Public Records
• 1984-09-25 Sold (Public Records) $402,815 Public Records

Property tax history

+7.5%/yr

Latest (2026): $78,253 · +7.6% YoY. Source: county tax records.