3777 Addy St #17 · Washougal, WA 98671

$138,000

2 bd · 1.5 ba · 1,400 sqft · Manufactured public records · 207 Days on market

Built 1994 $99/sqft · at area comps Est $140k · at est.

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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 +8.0/15.0
• Schools +5.3/10.0
• Livability +4.2/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this spacious manufactured home located in a quiet cul-de-sac just minutes from Hwy 14, shopping, and everyday conveniences. Offering 3 bedrooms and 2 bathrooms, this home features a desirable split-bedroom layout with the primary suite on one side for added privacy and two additional bedrooms on the opposite wing. The main living area boasts vaulted ceilings that create an open, airy feel. The kitchen offers modern touches including a walk-in pantry, generous counter space, and a cozy eating area. The primary bedroom includes a large en-suite bathroom with a beautifully tiled tub/shower. Throughout the home you’ll find several updated finishes including New Furnace system, while some areas like paint and baseboards in bedrooms await your final personal touches, making this a great opportunity to add value and style. The backyard feels private and peaceful, perfect for relaxing or future customization. With its convenient location, functional layout, and potential to make it your own, this home is full of possibilities. Don't miss this great opportunity!

Key facts

• Split-bedroom layout
• Updated finishes
• Quiet cul-de-sac

Tags

• QUIET CUL-DE-SAC
• SPLIT-BEDROOM LAYOUT
• WALK-IN PANTRY
• GENEROUS COUNTER SPACE
• TILED TUB/SHOWER
• UPDATED FINISHES

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath manufactured listed at $138k.

Deal economics

• At list price, monthly cash flow is $852 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $138k).
• Recommended offer: $121k (12.0% below list) — sets the bar for market timing.
• Cap rate 13.7% vs local median 1.7% in Washougal — 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 84/100 on livability (#42 in WA, #742 nationally) — a professional / high-income tenant draw. Strengths: employment A+, housing A+, health & safety A+; Watch: amenities D+, cost of living F.
• Washougal School District (suburban): math 53% / reading 64% proficiency, ranked #59 of 291 in WA (top 20%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+3.7%/yr); 275 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 44% of comp listings sitting > 30 days — soft ceiling on asking rent; high-income renter base; 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 $954 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 + 3.7% rent growth), your $39k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 207 days — a 12% lower offer ($121k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 14y ago; this cycle's ask has dropped $10k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $30k; list at $138k implies a 361% gain — meaningful room to come down on a strong offer.

Recommended offer $121,440 (12.0% below list)

Questions for the listing agent

1. It's been on market 207 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. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
5. 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.
6. 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.
7. 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: 1.52% ✓
• Cap rate: 13.70%
• Cash-on-cash: 26.46%
• DSCR: 2.18
• GRM: 5.5

CMA / ARV

• ARV (median comp): $139,566
• List price: $138,000
• Delta: -1.12%
• Verdict: FAIR
• Comps: 6 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3777 Addy St #63	0.00mi	3/2.0 (+1)	1,404 (+0%)	10mo	$159,000	$113	84
3777 Addy St #12	0.00mi	3/2.0 (+1)	1,348 (-4%)	4mo	$105,000	$78	83
3777 Addy St #4	0.00mi	3/2.0 (+1)	1,200 (-14%)	10mo	$150,000	$125	61
3777 Addy St #54	0.00mi	3/2.0 (+1)	1,252 (-11%)	17mo	$135,000	$108	61
3777 Addy St #33	0.00mi	3/2.0 (+1)	1,197 (-14%)	10mo	$128,000	$107	60
4501 Addy St #16	0.46mi	3/2.0 (+1)	1,248 (-11%)	10mo	$190,708	$153	45

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 · 3.7% rent growth · sell at horizon

5-year hold

• IRR: 21.0%
• Equity multiple: 1.86×
• Total profit: $33,328
• Equity at exit: $20,576

10-year hold

• IRR: 29.5%
• Equity multiple: 3.71×
• Total profit: $104,850
• Equity at exit: $11,932

Cash invested: $38,640 (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 98671

• Rents YoY: 3.7%
• Active inventory: 275
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $2,100 high
• Mortgage (P&I): −$724
• Tax from tax record: −$26 /mo · $310/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$441
• Net cashflow: $852

Break-even live

Break-even rent $1,021

Max offer price $138,000

Occupancy floor 54%

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: $34,500
• Closing costs: $4,140
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3381 Lewis Ln Washougal, WA	2.0	2.5	980	$2,195	$2.24	1d	1	0.33mi
3337 Lewis Ln Washougal, WA	2.0	2.5	981	$2,195	$2.24	43d	1	0.33mi
3251 Lewis Ln Washougal, WA	2.0	2.5	992	$2,095	$2.11	1d	1	0.42mi
3108 H St Apt 3 Washougal, WA	2.0	1.5	950	$1,450	$1.53	1d	1	0.60mi
4694 Rolling Meadows Dr Washougal, WA	3.0	2.0	1358	$2,900	$2.14	14d	1	0.90mi
2300 Main St Washougal, WA	2.0	2.0	1080	$1,845	$1.71	1d	10	0.99mi
5447 N St Washougal, WA	3.0	2.0	1872	$2,795	$1.49	43d	1	1.14mi
1628 G St Washougal, WA	2.0	1.0	900	$1,595	$1.77	43d	1	1.35mi
1506 G St Washougal, WA	2.0	1.0	900	$1,925	$2.14	43d	1	1.40mi

Listing history 20 events

1. 2026-06-18
   days on market $138,000 Active 207 DOM
2. 2026-06-17
   days on market $138,000 Active 206 DOM
3. 2026-06-16
   days on market $138,000 Active 205 DOM
4. 2026-06-15
   days on market $138,000 Active 204 DOM
5. 2026-06-13
   days on market $138,000 Active 202 DOM
6. 2026-06-09
   days on market $138,000 Active 198 DOM
7. 2026-06-08
   days on market $138,000 Active 197 DOM
8. 2026-06-07
   days on market $138,000 Active 196 DOM
9. 2026-06-05
   days on market $138,000 Active 193 DOM
10. 2026-06-03
    days on market $138,000 Active 192 DOM
11. 2026-06-02
    days on market $138,000 Active 191 DOM
12. 2026-06-01
    days on market $138,000 Active 190 DOM
13. 2026-05-31
    days on market $138,000 Active 189 DOM
14. 2026-02-19
    price $138,000

    Show marketing remark (1087 chars)

    Welcome to this spacious manufactured home located in a quiet cul-de-sac just minutes from Hwy 14, shopping, and everyday conveniences. Offering 3 bedrooms and 2 bathrooms, this home features a desirable split-bedroom layout with the primary suite on one side for added privacy and two additional bedrooms on the opposite wing. The main living area boasts vaulted ceilings that create an open, airy feel. The kitchen offers modern touches including a walk-in pantry, generous counter space, and a cozy eating area. The primary bedroom includes a large en-suite bathroom with a beautifully tiled tub/shower. Throughout the home you’ll find several updated finishes including New Furnace system, while some areas like paint and baseboards in bedrooms await your final personal touches, making this a great opportunity to add value and style. The backyard feels private and peaceful, perfect for relaxing or future customization. With its convenient location, functional layout, and potential to make it your own, this home is full of possibilities. Don't miss this great opportunity!

15. 2026-02-19
    price $138,000 1087-char remark

    Show marketing remark (1087 chars)

    Welcome to this spacious manufactured home located in a quiet cul-de-sac just minutes from Hwy 14, shopping, and everyday conveniences. Offering 3 bedrooms and 2 bathrooms, this home features a desirable split-bedroom layout with the primary suite on one side for added privacy and two additional bedrooms on the opposite wing. The main living area boasts vaulted ceilings that create an open, airy feel. The kitchen offers modern touches including a walk-in pantry, generous counter space, and a cozy eating area. The primary bedroom includes a large en-suite bathroom with a beautifully tiled tub/shower. Throughout the home you’ll find several updated finishes including New Furnace system, while some areas like paint and baseboards in bedrooms await your final personal touches, making this a great opportunity to add value and style. The backyard feels private and peaceful, perfect for relaxing or future customization. With its convenient location, functional layout, and potential to make it your own, this home is full of possibilities. Don't miss this great opportunity!

16. 2025-11-23
    listed $148,000 Active

    Show marketing remark (1087 chars)

    Welcome to this spacious manufactured home located in a quiet cul-de-sac just minutes from Hwy 14, shopping, and everyday conveniences. Offering 3 bedrooms and 2 bathrooms, this home features a desirable split-bedroom layout with the primary suite on one side for added privacy and two additional bedrooms on the opposite wing. The main living area boasts vaulted ceilings that create an open, airy feel. The kitchen offers modern touches including a walk-in pantry, generous counter space, and a cozy eating area. The primary bedroom includes a large en-suite bathroom with a beautifully tiled tub/shower. Throughout the home you’ll find several updated finishes including New Furnace system, while some areas like paint and baseboards in bedrooms await your final personal touches, making this a great opportunity to add value and style. The backyard feels private and peaceful, perfect for relaxing or future customization. With its convenient location, functional layout, and potential to make it your own, this home is full of possibilities. Don't miss this great opportunity!

17. 2025-11-23
    listed $148,000 Active 1087-char remark

    Show marketing remark (1087 chars)

    Welcome to this spacious manufactured home located in a quiet cul-de-sac just minutes from Hwy 14, shopping, and everyday conveniences. Offering 3 bedrooms and 2 bathrooms, this home features a desirable split-bedroom layout with the primary suite on one side for added privacy and two additional bedrooms on the opposite wing. The main living area boasts vaulted ceilings that create an open, airy feel. The kitchen offers modern touches including a walk-in pantry, generous counter space, and a cozy eating area. The primary bedroom includes a large en-suite bathroom with a beautifully tiled tub/shower. Throughout the home you’ll find several updated finishes including New Furnace system, while some areas like paint and baseboards in bedrooms await your final personal touches, making this a great opportunity to add value and style. The backyard feels private and peaceful, perfect for relaxing or future customization. With its convenient location, functional layout, and potential to make it your own, this home is full of possibilities. Don't miss this great opportunity!

18. 2012-12-19
    soldstatus $29,950 Sold 225-char remark

    Show marketing remark (225 chars)

    Great family park. Nice floor plan with master separated from other 2 bedrooms. Large living room & dinning room. Kitchen with eating bar & pantry. Backyard has storage shed. Vacant & ready for you to move in.

19. 2012-12-06
    price $29,950 225-char remark

    Show marketing remark (225 chars)

    Great family park. Nice floor plan with master separated from other 2 bedrooms. Large living room & dinning room. Kitchen with eating bar & pantry. Backyard has storage shed. Vacant & ready for you to move in.

20. 2012-11-06
    listed $33,000 Active 225-char remark

    Show marketing remark (225 chars)

    Great family park. Nice floor plan with master separated from other 2 bedrooms. Large living room & dinning room. Kitchen with eating bar & pantry. Backyard has storage shed. Vacant & ready for you to move in.

ⓘ 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: $310 · $26/mo
• Projected year-2 tax: $1,352 · $113/mo
• Expected delta: +$1,043/yr (+$87/mo · 336.9%)

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

Taxation est. · year 1

• Rental income: $25,199
• − Mortgage interest: −$7,730
• − Property taxes: −$310
• − Insurance: −$690
• − Repairs & maintenance: −$2,016
• − Management: −$2,016
• − Depreciation: −$4,015
• Taxable income: $8,423
• Est. tax owed @ 24.0%: −$2,021
• After-tax cash flow: $8,202/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: Washougal School District
• NCES district ID: 5309540
• Math proficiency: 53% ▼ -2.00%
• Reading proficiency: 64% ▼ -2.00%
• Median HH income: $68,134
• Composite: 53.22/100
• National rank: #3195
• State rank: #59 of 291 in WA

Livability — Washougal

• Score: 84/100
• State rank: #42
• US rank: #742

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Washougal, WA
• County: Clark County · 513,189 people
• City population: 24,871
• Metro: Portland-Vancouver-Hillsboro, OR-WA
• Population (ZIP): 24,871
• Household income: $111,545
• Rent vs Own: 23.5% rent · 76.5% own
• Severe rent burden: 382.0

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 (82%)
• Race & ethnicity: White 82% Hispanic / Latino 10% Two or more races 9% Asian 2%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Portuguese 5% Italian 3% Lithuanian 3%
• Foreign-born: 4% · Canada, China
• Languages at home: 91% English-only · Spanish 6% Chinese 1% Russian/Polish/Slavic 1%

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: ▼ -418.85%
• Current HPI: 315.8635
• Rent YoY: ▲ 3.70%
• 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

+318.2% since first listed

7 events — show timeline

• 2026-02-19 Price Changed $138,000 NWMLS as Distributed by MLS Grid
• 2026-02-19 Price Changed $138,000 RMLS
• 2025-11-23 Listed $148,000 RMLS
• 2025-11-23 Listed $148,000 NWMLS as Distributed by MLS Grid
• 2012-12-19 Sold (MLS) $29,950 RMLS
• 2012-12-06 Price Changed $29,950 RMLS
• 2012-11-06 Listed $33,000 RMLS

Property tax history

-1.2%/yr

Latest (2026): $310 · +61.4% YoY. Source: county tax records.