11515 NE 71st St Unit 26 · Five Corners, WA 98662

$85,000

3 bd · 2.0 ba · 933 sqft · Manufactured public records · 3 Days on market

Built 1989 Est $137k · 38% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.3/10.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Appreciation +0.0/10.0

Listing remarks

Affordable Comfort in Vancouver’s Greenway Terrace! Welcome home to this charming 3-bedroom, 2-bathroom manufactured home offering 933 sqft of beautifully maximized living space! This property balances community living with a spacious, functional layout. Step inside from the covered front porch into a bright, open-concept great room that seamlessly connects your living and dining areas. The modern kitchen steals the show with clean white cabinetry, a stylish tiled backsplash, stainless steel appliances, and a brilliant skylight that floods the space with natural light. Outside you'll find a dedicated covered carport, and a grassy yard with a generous covered deck—perfect for rel

Key facts

• Covered front porch
• Brilliant skylight
• Tiled backsplash

Tags

• COVERED FRONT PORCH
• OPEN-CONCEPT GREAT ROOM
• MODERN KITCHEN
• TILED BACKSPLASH
• STAINLESS STEEL APPLIANCES
• BRILLIANT SKYLIGHT

Property features AI

Finance

• HOA & community: Located in Greenway Terrace park; Space rent $813.75 monthly (plus water, sewer, and trash) through April 2027; Land lease in effect until April 1, 2027; Not a senior community; Zoning: MX

Exterior

• Parking: Carport; On-street parking available
• Utilities: Public water; Public sewer; Electric service
• Home design: Manufactured home in park; Residential property; Single-story (main level entry); Model: 70/14; No notable view
• Construction: Built in 1989; Metal roof; Wood siding exterior; Crawl space foundation
• Exterior features: Covered deck; Wood siding; Corner, cleared, level lot; Concrete/paved road access

Interior

• Kitchen: Eat bar; Free-standing range; Free-standing refrigerator; Microwave; Plumbed for ice maker; Stainless steel appliances; Kitchen sink
• Bedrooms: Primary bedroom on main level with ensuite and walk-in shower; Second bedroom on main level; Third bedroom on main level
• Flooring: Laminate flooring; Tile flooring
• Bathrooms: Two full bathrooms (both on main level)
• Heating & cooling: Forced air heating; Electric hot water; No central air
• Interior features: Ceiling fans; Skylights; Laundry area; Ensuite bathroom (in primary bedroom); Crawl space basement
• Laundry & utility: Washer and dryer (laundry on main level)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $85k.

Deal economics

• At list price, monthly cash flow is $968 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $85k).
• Cap rate 20.0% vs local median 3.1% in Five Corners — 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 74/100 on livability (#186 in WA, #4,956 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, employment A, health & safety A-; Watch: crime D+, amenities F, cost of living D-.
• Evergreen School District (Clark) (urban): math 41% / reading 51% proficiency, ranked #164 of 291 in WA (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Orchards Elementary School (445 students, 75% FRL); Covington Middle School (868 students, 73% FRL); Heritage High School (1,625 students, 68% FRL) — zoned schools average 72% FRL vs 39% district-wide (33 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents soft (-0.2%/yr); 219 active listings in the ZIP; 23 comparable units currently listed for rent nearby; rentals leasing fast (median 9d 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 $588 of loan paydown is wiped out by about $3k 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 + 0.0% rent growth), your $24k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $85,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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?
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: 2.32% ✓
• Cap rate: 19.96%
• Cash-on-cash: 48.79%
• DSCR: 3.17
• GRM: 3.6

CMA / ARV

• ARV (on-the-fly): $137,151
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6811 NE 124th Ave	0.68mi	3/2.0	1,020 (+9%)	11mo	$150,000	$147	43

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 42.9%
• Equity multiple: 2.77×
• Total profit: $42,124
• Equity at exit: $12,674

10-year hold

• IRR: 47.6%
• Equity multiple: 4.94×
• Total profit: $93,873
• Equity at exit: $7,349

Cash invested: $23,800 (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 98662

• Rents YoY: -0.2%
• Active inventory: 219
• Price-to-rent: 3.6×

Monthly cashflow live

• Estimated rent: $1,969 high
• Mortgage (P&I): −$446
• Tax est. 1.5%: −$106 /mo · $1,275/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$413
• Net cashflow: $968

Break-even live

Break-even rent $744

Max offer price $85,000

Occupancy floor 46%

Sensitivity live

Price	-10% $1,026	-5% $997	+0% $968	+5% $938	+10% $909
Rent	-10% $812	-5% $890	+0% $968	+5% $1,046	+10% $1,123
Rate	-1.0pp $1,011	-0.5pp $989	base $968	+0.5pp $946	+1.0pp $923

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11603 NE 71st St Vancouver, WA	1.0–3.0	1.0–2.0	991	$2,563	$2.59	2d	55	0.21mi
7020 NE 100th Ct Vancouver, WA	2.0	1.0	980	$1,649	$1.68	20d	1	0.58mi
6001 NE 102nd Ave Vancouver, WA	2.0–3.0	2.0	1125	$1,850	$1.64	2d	6	0.70mi
11328 NE 51st Cir Vancouver, WA	2.0–4.0	1.0–2.0	1086	$1,862	$1.71	8d	8	0.89mi
5264 NE 121st Ave Vancouver, WA	2.0	2.0	944	$1,850	$1.96	44d	1	0.96mi
11412 NE 49th St Vancouver, WA	1.0–2.0	1.0–2.0	810	$1,730	$2.14	2d	6	1.11mi
11716 NE 49th St Vancouver, WA	1.0–3.0	1.0–2.5	1090	$2,250	$2.06	8d	15	1.12mi
4821 NE 110th Ave Vancouver, WA	2.0	2.0	1020	$1,595	$1.56	24d	3	1.14mi
11205 NE 49th St Unit 11209B Vancouver, WA	2.0	1.0	1104	$1,675	$1.52	13d	1	1.17mi
11205 NE 49th St Unit 11303D Vancouver, WA	2.0	1.0	944	$1,595	$1.69	20d	1	1.17mi
11114 NE 48th Cir Unit B Vancouver, WA	2.0	1.0	700	$1,395	$1.99	44d	1	1.19mi
11111 NE 48th Cir Unit D Vancouver, WA	2.0	1.0	860	$1,575	$1.83	44d	1	1.20mi
10809 NE 48th Cir Apt C Vancouver, WA	2.0	1.0	806	$1,395	$1.73	44d	1	1.22mi
13608 NE 72nd St Vancouver, WA	1.0–2.0	1.0–2.0	839	$1,599	$1.90	3d	2	1.24mi
7505 NE 135th Ave Unit A Vancouver, WA	2.0	1.0	840	$1,800	$2.14	8d	1	1.24mi
7505 NE 135th Ave Unit B Vancouver, WA	2.0	1.0	840	$1,800	$2.14	8d	1	1.24mi
6603 NE 137th Ave Vancouver, WA	2.0	1.0	750	$1,545	$2.06	44d	1	1.31mi
9013 NE 54th St Vancouver, WA	2.0	2.0	1033	$1,405	$1.36	3d	2	1.36mi
9009 NE 54th St Vancouver, WA	1.0–3.0	1.0–2.0	1175	$2,500	$2.13	2d	7	1.40mi
9001 NE 54th St Vancouver, WA	1.0–2.0	1.0	618	$1,660	$2.68	3d	1	1.47mi
4902 NE 94th Ave Vancouver, WA	2.0	1.0	471	$1,532	$3.25	3d	1	1.49mi
8778 NE 54th St Vancouver, WA	1.0–2.0	1.0–2.0	857	$1,911	$2.23	3d	9	1.50mi
4202 NE Morrow Rd #203 Vancouver, WA	2.0	1.5	921	$1,795	$1.95	44d	1	1.50mi

Listing history 4 events

1. 2026-06-18
   days on market $85,000 Active 3 DOM
2. 2026-06-17
   days on market $85,000 Active 2 DOM
3. 2026-06-16
   remarks 687-char remark
4. 2026-06-16
   listed $85,000 Active 1 DOM

ⓘ 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: $23,623
• − Mortgage interest: −$4,761
• − Property taxes: −$1,275
• − Insurance: −$425
• − Repairs & maintenance: −$1,890
• − Management: −$1,890
• − Depreciation: −$2,473
• Taxable income: $10,909
• Est. tax owed @ 24.0%: −$2,618
• After-tax cash flow: $8,995/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: Evergreen School District (Clark)
• NCES district ID: 5302700
• Math proficiency: 41% ▼ -3.00%
• Reading proficiency: 51% ▼ -3.00%
• Median HH income: $59,418
• Composite: 42.53/100
• National rank: #6859
• State rank: #164 of 291 in WA

Livability — Five Corners

• Score: 74/100
• State rank: #186
• US rank: #4956

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Five Corners, WA
• County: Clark County · 513,189 people
• City population: 38,008
• Metro: Portland-Vancouver-Hillsboro, OR-WA
• Population (ZIP): 37,723
• Household income: $94,303
• Rent vs Own: 36.0% rent · 64.0% own
• Severe rent burden: 1189.0

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 (73%)
• Race & ethnicity: White 73% Hispanic / Latino 11% Two or more races 10% Asian 6% Black 3%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Subsaharan African 4% Italian 4% Portuguese 3%
• Foreign-born: 16% · Canada, Vietnam, China
• Languages at home: 78% English-only · Russian/Polish/Slavic 8% Spanish 7% Other Indo-European 3%

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: ▼ -322.04%
• Current HPI: 304.1275
• Rent YoY: ▼ -0.21%
• 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

1 event — show timeline

• 2026-06-15 Listed $85,000 RMLS

Property tax history

-10.7%/yr

Latest (2026): $20 · +56.5% YoY. Source: county tax records.