1965 Westside Hwy #87 · Lexington, WA 98626

$112,000

3 bd · 2.0 ba · 960 sqft · Manufactured public records · 141 Days on market

Built 1998 4,480 sqft lot $117/sqft · 123% above area

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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
• Schools +4.0/10.0
• Rent growth +3.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Nice 3 bedroom 2 full bath home in TimWa 55+ manufactured home park. Primary has an attached full bathroom with a large closet. Kitchen comes with stove and dishwasher. Washer/Dryer included. 2 additional bedrooms and another full size bathroom with a vaulted spacious living room and dining area round out this clean and move in ready home. Newer laminate wood floors and neutral paint colors will make for a calm and peaceful home. The yard has a tool shed and a covered carport.

Key facts

• Large closet
• Dining area
• All appliances

Tags

• ATTACHED FULL BATHROOM
• LARGE CLOSET
• ALL APPLIANCES
• WASHER DRYER INCLUDED
• VAULTED LIVING ROOM
• DINING AREA

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $112k.

Deal economics

• At list price, monthly cash flow is $977 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $112k).
• Recommended offer: $99k (12.0% below list) — sets the bar for market timing.
• Cap rate 16.8% vs local median 3.5% in Lexington — 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: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Kelso School District (suburban): math 35% / reading 53% proficiency, ranked #191 of 291 in WA (top 66%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+4.1%/yr); 217 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 348 units permitted in Cowlitz County in 2024 (40 in 5+ unit buildings).
• This rent runs 34% of the median local income ($76k/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 $774 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Cowlitz County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 4.1% rent growth), your $31k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 141 days — a 12% lower offer ($99k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 6y 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 $98,560 (12.0% below list)

Questions for the listing agent

1. It's been on market 141 days. Have you received any prior offers? Is the seller open to a 12% 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. 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: 1.89% ✓
• Cap rate: 16.77%
• Cash-on-cash: 37.40%
• DSCR: 2.66
• GRM: 4.4

CMA / ARV

• ARV (median comp): $50,204
• List price: $112,000
• Delta: 123.09%
• Verdict: OVERPRICED
• Comps: 5 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1965 West Side Hwy #48	0.10mi	3/2.0	1,008 (+5%)	9mo	$72,500	$72	80
1965 West Side Hwy #46	0.09mi	2/2.0 (-1)	924 (-4%)	10mo	$55,000	$60	76

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 · 4.1% rent growth · sell at horizon

5-year hold

• IRR: 34.5%
• Equity multiple: 2.48×
• Total profit: $46,463
• Equity at exit: $16,700

10-year hold

• IRR: 41.9%
• Equity multiple: 5.16×
• Total profit: $130,519
• Equity at exit: $9,684

Cash invested: $31,360 (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 98626

• Rents YoY: 4.1%
• Active inventory: 217
• Price-to-rent: 4.4×

Monthly cashflow live

• Estimated rent: $2,121 medium
• Mortgage (P&I): −$587
• Tax from tax record: −$64 /mo · $770/yr
• Insurance: −$47
• HOA: −$0
• Vacancy / Maint / Mgmt: −$445
• Net cashflow: $977

Break-even live

Break-even rent $884

Max offer price $112,000

Occupancy floor 49%

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: $28,000
• Closing costs: $3,360
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
118 Chickadee Dr Kelso, WA	3.0	2.0	1076	$2,400	$2.23	43d	1	1.30mi
104 Solomon Rd Kelso, WA	1.0–2.0	1.0–2.0	893	$1,950	$2.18	43d	7	1.40mi

Listing history 36 events

1. 2026-06-19
   days on market $112,000 Active 141 DOM
2. 2026-06-18
   days on market $112,000 Active 140 DOM
3. 2026-06-17
   days on market $112,000 Active 139 DOM
4. 2026-06-16
   days on market $112,000 Active 138 DOM
5. 2026-06-15
   days on market $112,000 Active 137 DOM
6. 2026-06-14
   days on market $112,000 Active 135 DOM
7. 2026-06-13
   days on market $112,000 Active 134 DOM
8. 2026-06-10
   days on market $112,000 Active 132 DOM
9. 2026-06-09
   days on market $112,000 Active 131 DOM
10. 2026-06-08
    days on market $112,000 Active 130 DOM
11. 2026-06-07
    days on market $112,000 Active 129 DOM
12. 2026-06-03
    days on market $112,000 Active 125 DOM
13. 2026-06-02
    days on market $112,000 Active 124 DOM
14. 2026-06-01
    days on market $112,000 Active 123 DOM
15. 2026-05-31
    days on market $112,000 Active 122 DOM
16. 2026-05-30
    days on market $112,000 Active 121 DOM
17. 2026-05-07
    price $112,000

    Show marketing remark (481 chars)

    Nice 3 bedroom 2 full bath home in TimWa 55+ manufactured home park. Primary has an attached full bathroom with a large closet. Kitchen comes with stove and dishwasher. Washer/Dryer included. 2 additional bedrooms and another full size bathroom with a vaulted spacious living room and dining area round out this clean and move in ready home. Newer laminate wood floors and neutral paint colors will make for a calm and peaceful home. The yard has a tool shed and a covered carport.

18. 2026-05-07
    listed $112,000 Active 481-char remark

    Show marketing remark (481 chars)

    Nice 3 bedroom 2 full bath home in TimWa 55+ manufactured home park. Primary has an attached full bathroom with a large closet. Kitchen comes with stove and dishwasher. Washer/Dryer included. 2 additional bedrooms and another full size bathroom with a vaulted spacious living room and dining area round out this clean and move in ready home. Newer laminate wood floors and neutral paint colors will make for a calm and peaceful home. The yard has a tool shed and a covered carport.

19. 2026-01-29
    listed $117,000 Active
20. 2022-12-16
    soldstatus $112,000 Closed

    Show marketing remark (259 chars)

    Safe Community, Excellent Shape, Ready to move into. Off Street Parking. Carport, Shed. With nicely landscaped back yard. Open Concept for the kitchen. On Dead End Rd. Has Club House. Close to I5, and In Lexington. Great place to call home in a 55+ Community.

21. 2022-12-16
    soldstatus $112,000 Closed 259-char remark

    Show marketing remark (259 chars)

    Safe Community, Excellent Shape, Ready to move into. Off Street Parking. Carport, Shed. With nicely landscaped back yard. Open Concept for the kitchen. On Dead End Rd. Has Club House. Close to I5, and In Lexington. Great place to call home in a 55+ Community.

22. 2022-11-21
    status Pending 259-char remark

    Show marketing remark (259 chars)

    Safe Community, Excellent Shape, Ready to move into. Off Street Parking. Carport, Shed. With nicely landscaped back yard. Open Concept for the kitchen. On Dead End Rd. Has Club House. Close to I5, and In Lexington. Great place to call home in a 55+ Community.

23. 2022-11-21
    status Pending

    Show marketing remark (259 chars)

    Safe Community, Excellent Shape, Ready to move into. Off Street Parking. Carport, Shed. With nicely landscaped back yard. Open Concept for the kitchen. On Dead End Rd. Has Club House. Close to I5, and In Lexington. Great place to call home in a 55+ Community.

24. 2022-11-18
    price $113,000
25. 2022-11-17
    price $113,000 259-char remark

    Show marketing remark (259 chars)

    Safe Community, Excellent Shape, Ready to move into. Off Street Parking. Carport, Shed. With nicely landscaped back yard. Open Concept for the kitchen. On Dead End Rd. Has Club House. Close to I5, and In Lexington. Great place to call home in a 55+ Community.

26. 2022-11-08
    listed $120,000 Active

    Show marketing remark (259 chars)

    Safe Community, Excellent Shape, Ready to move into. Off Street Parking. Carport, Shed. With nicely landscaped back yard. Open Concept for the kitchen. On Dead End Rd. Has Club House. Close to I5, and In Lexington. Great place to call home in a 55+ Community.

27. 2022-11-08
    listed $120,000 Active 259-char remark

    Show marketing remark (259 chars)

    Safe Community, Excellent Shape, Ready to move into. Off Street Parking. Carport, Shed. With nicely landscaped back yard. Open Concept for the kitchen. On Dead End Rd. Has Club House. Close to I5, and In Lexington. Great place to call home in a 55+ Community.

28. 2020-10-16
    historical
29. 2020-10-16
    soldstatus $48,000 Sold
30. 2020-10-16
    soldstatus $48,000 Sold
31. 2020-10-07
    status Pending
32. 2020-10-07
    status Pending Inspection
33. 2020-10-02
    price $49,500
34. 2020-10-02
    price $49,500
35. 2020-09-09
    listed $55,000 Active
36. 2020-09-09
    listed $55,000 Active

ⓘ 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: $770 · $64/mo
• Projected year-2 tax: $1,098 · $91/mo
• Expected delta: +$327/yr (+$27/mo · 42.5%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥89°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 7/10 Severe 8 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,453
• − Mortgage interest: −$6,274
• − Property taxes: −$770
• − Insurance: −$560
• − Repairs & maintenance: −$2,036
• − Management: −$2,036
• − Depreciation: −$3,258
• Taxable income: $10,518
• Est. tax owed @ 24.0%: −$2,524
• After-tax cash flow: $9,205/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: Kelso School District
• NCES district ID: 5300003
• Math proficiency: 35% ▼ -2.00%
• Reading proficiency: 53% ▼ -1.00%
• Median HH income: $47,840
• Composite: 39.83/100
• National rank: #7963
• State rank: #191 of 291 in WA

Livability — Lexington

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Lexington, WA
• County: Cowlitz County · 77,527 people
• Metro: Longview, WA
• Population (ZIP): 26,892
• Household income: $75,528
• Rent vs Own: 31.5% rent · 68.5% own
• Severe rent burden: 722.0

Population outlook (Cowlitz County) Hauer SSP2

• Today (2025): 104,780 people
• By 2030: 103,980 · -0.8%
• By 2040: 100,769 · -3.8%
• By 2050: 96,685 · -7.7%
• By 2075: 86,454 · -17.5%
• By 2100: 74,052 · -29.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Hispanic / Latino 7% Two or more races 7% Native American 2% Asian 1%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Portuguese 5% Slovak 4% Italian 3%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 3% Tagalog/Filipino 1%

Political lean MEDSL · Cowlitz

• 2024 margin: R (+19.9) · D 38.7% · R 58.6% · Other 2.7%
• 2008→2024 swing: -31.1pp toward R · 2008: 11.2pp · 2024: -19.9pp
• All cycles: 2024: R+19.9 2020: R+17.4 2016: R+13.7 2012: D+4.4 2008: D+11.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -321.36%
• Current HPI: 262.8196
• Rent YoY: ▲ 4.10%
• Metro: Longview, 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

+103.6% since first listed

20 events — show timeline

• 2026-05-07 Price Changed $112,000 NWMLS as Distributed by MLS Grid
• 2026-05-07 Listed $112,000 RMLS
• 2026-01-29 Listed $117,000 NWMLS as Distributed by MLS Grid
• 2022-12-16 Sold (MLS) $112,000 RMLS
• 2022-12-16 Sold (MLS) $112,000 NWMLS as Distributed by MLS Grid
• 2022-11-21 Pending — RMLS
• 2022-11-21 Pending — NWMLS as Distributed by MLS Grid
• 2022-11-18 Price Changed $113,000 NWMLS as Distributed by MLS Grid
• 2022-11-17 Price Changed $113,000 RMLS
• 2022-11-08 Listed $120,000 RMLS
• 2022-11-08 Listed $120,000 NWMLS as Distributed by MLS Grid
• 2020-10-16 Delisted — RMLS
• 2020-10-16 Sold (MLS) $48,000 NWMLS as Distributed by MLS Grid
• 2020-10-16 Sold (MLS) $48,000 RMLS
• 2020-10-07 Pending — RMLS
• 2020-10-07 Pending — NWMLS as Distributed by MLS Grid
• 2020-10-02 Price Changed $49,500 RMLS
• 2020-10-02 Price Changed $49,500 NWMLS as Distributed by MLS Grid
• 2020-09-09 Listed $55,000 NWMLS as Distributed by MLS Grid
• 2020-09-09 Listed $55,000 RMLS

Property tax history

+2.3%/yr

Latest (2026): $770 · -39.2% YoY. Source: county tax records.