507 Colorado St #4 · Kelso, WA 98626

$99,500

2 bd · 2.0 ba · 1,152 sqft · Manufactured public records · 75 Days on market

Manufactured home Built 1972 4,070 sqft lot $86/sqft · 73% below 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
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +7.4/10.0
• Schools +4.0/10.0
• Rent growth +3.5/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Newly remodeled manufactured home in Longview, Washington. This home offers 1,152 sq. ft. with 2 beds and 1.75 baths. Interior upgrades include: New Carpet in the Bedrooms, Luxury Vinyl Plank in the Bathrooms and Waterproof Laminate throughout. Additional features include Updated Vinyl Windows, Newer Heat Pump for AC and Heat, Interior Doors, Trim, and Cabinet Hardware, Baseboards, Light Fixtures, Fresh Paint. On the exterior of the Home there are Two Separate Carports. One traditional Carport and a Second Covered Area. There is a Storage Shed with Power to it that is Newer and Clean. The home has recently been painted on t he outside as well. Space Rent is Very Affordable; currently at $72

Key facts

• 4,070 sq ft lot
• Built 1972
• Listed 75 days

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $100k.

Deal economics

• At list price, monthly cash flow is $379 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $94k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.9% vs local median 3.4% in Kelso — 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 65/100 on livability (#324 in WA) — a middle-class / working-renter tenant base. Strengths: housing A+, cost of living A-; Watch: health & safety C-, amenities F, commute F.
• 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.
• Zoned schools: Wallace Elementary (342 students, 88% FRL); Coweeman Middle School (570 students, 64% FRL); Kelso High School (1,424 students, 61% FRL) — zoned schools average 71% FRL vs 50% district-wide (21 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+4.1%/yr); 219 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $688 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 $28k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 75 days — a 6% lower offer ($94k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $24k; list at $100k implies a 323% gain — meaningful room to come down on a strong offer.

Recommended offer $93,530 (6.0% below list)

Questions for the listing agent

1. It's been on market 75 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 1.24% ✓
• Cap rate: 10.86%
• Cash-on-cash: 16.32%
• DSCR: 1.73
• GRM: 6.7

CMA / ARV

• ARV (median comp): $369,611
• List price: $99,500
• Delta: -73.08%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
308 Hawthorne St	0.42mi	2/2.0	1,200 (+4%)	21mo	$300,000	$250	56
245 Haussler Rd	0.75mi	3/2.0 (+1)	1,306 (+13%)	15mo	$379,900	$291	25

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: 8.5%
• Equity multiple: 1.34×
• Total profit: $9,355
• Equity at exit: $14,836

10-year hold

• IRR: 18.5%
• Equity multiple: 2.61×
• Total profit: $44,859
• Equity at exit: $8,603

Cash invested: $27,860 (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: 219
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $1,233 medium
• Mortgage (P&I): −$522
• Tax from tax record: −$32 /mo · $380/yr
• Insurance: −$41
• HOA: −$0
• Lot rent leased land?: −$0
• Vacancy / Maint / Mgmt: −$259
• Net cashflow: $379

Break-even live

Break-even rent $753

Max offer price $99,500

Occupancy floor 64%

Sensitivity live

Price	-10% $435	-5% $407	+0% $379	+5% $351	+10% $323
Rent	-10% $282	-5% $330	+0% $379	+5% $428	+10% $476
Rate	-1.0pp $429	-0.5pp $404	base $379	+0.5pp $353	+1.0pp $327

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: $24,875
• Closing costs: $2,985
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
910 Elizabeth St Kelso, WA	3.0	1.0	1075	$1,625	$1.51	46d	1	0.90mi
909 Pacific Ave S Kelso, WA	2.0	1.0	750	$1,525	$2.03	1d	4	1.19mi

Listing history 21 events

1. 2026-06-21
   days on market $99,500 Active 75 DOM
2. 2026-06-19
   days on market $99,500 Active 73 DOM
3. 2026-06-18
   days on market $99,500 Active 72 DOM
4. 2026-06-17
   days on market $99,500 Active 71 DOM
5. 2026-06-16
   days on market $99,500 Active 70 DOM
6. 2026-06-15
   days on market $99,500 Active 69 DOM
7. 2026-06-14
   days on market $99,500 Active 67 DOM
8. 2026-06-13
   days on market $99,500 Active 66 DOM
9. 2026-06-10
   days on market $99,500 Active 64 DOM
10. 2026-06-09
    days on market $99,500 Active 63 DOM
11. 2026-06-08
    days on market $99,500 Active 62 DOM
12. 2026-06-07
    days on market $99,500 Active 61 DOM
13. 2026-06-03
    days on market $99,500 Active 57 DOM
14. 2026-06-02
    days on market $99,500 Active 56 DOM
15. 2026-06-01
    days on market $99,500 Active 55 DOM
16. 2026-06-01
    price $99,500 Active 54 DOM
17. 2026-05-31
    days on market $110,000 Active 54 DOM
18. 2026-05-30
    days on market $110,000 Active 53 DOM
19. 2026-05-12
    price $110,000
20. 2026-04-07
    listed $115,000 Active
21. 1992-02-04
    soldstatus $23,500

ⓘ 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: $380 · $32/mo
• Projected year-2 tax: $975 · $81/mo
• Expected delta: +$595/yr (+$50/mo · 156.3%)

ⓘ 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 ≥88°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 7/10 Severe 9 unhealthy d/yr today · 10 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,794
• − Mortgage interest: −$5,574
• − Property taxes: −$380
• − Insurance: −$498
• − Repairs & maintenance: −$1,184
• − Management: −$1,184
• − Depreciation: −$2,895
• Taxable income: $3,081
• Est. tax owed @ 24.0%: −$739
• After-tax cash flow: $3,808/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 — Kelso

• Score: 65/100
• State rank: #324
• US rank: #12232

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Kelso, WA
• County: Cowlitz County · 77,527 people
• City population: 26,892
• 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

+368.1% since first listed

3 events — show timeline

• 2026-05-12 Price Changed $110,000 NWMLS as Distributed by MLS Grid
• 2026-04-07 Listed $115,000 NWMLS as Distributed by MLS Grid
• 1992-02-04 Sold (Public Records) $23,500 Public Records

Property tax history

+20.8%/yr

Latest (2026): $380 · +543.1% YoY. Source: county tax records.