147 Northwoods Cabin · Cougar, WA 98616

$104,000

4 bd · 1.0 ba · 1,260 sqft · SingleFamily · 22 Days on market

Built 1979 Good condition $83/sqft · 41% below area Est $176k · 41% under $95/mo HOA · 5% of rent ↓ 13% since listing

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Why this score? — see what drove the A- 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
• Appreciation +6.8/10.0
• Schools +3.8/10.0
• Condition / age +3.8/5.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0

Listing remarks MLS

Major updates have already been completed, making this property a true blank slate ready for your vision. In 2022, the sellers installed a new metal roof, trusses, insulation, and ceiling panels. The cabin has also been upgraded with PEX plumbing, updated 120V and 12V electrical systems, and a brand-new inverter with battery system (purchased in 2020). With most of the heavy lifting already done and fully furnished, you can focus on the fun part, designing and finishing your dream retreat just the way you want it. Don’t miss this incredible opportunity, priced to sell and full of potential!

Key facts

• Brand new inverter
• New metal roof
• Pex plumbing

Tags

• NEW METAL ROOF
• PEX PLUMBING
• UPDATED ELECTRICAL SYSTEMS
• BRAND NEW INVERTER

Property features AI

Finance

• Other: Property condition: Fixer
• Financial info: Listing terms: Cash or Conventional
• HOA & community: Northwoods Association, Inc.; Annual association fee ($1,136) covering common area maintenance, road maintenance, and water; Community features include athletic court, playground, and CCRs; Land is leased

Exterior

• Parking: Driveway
• Utilities: Community water (community well); Septic tank; Propane and wood energy sources; Tankless water heater
• Home design: Detached single-family house; One and one-half story; Built 1979 (effective year)
• Construction: Wood construction; Metal roof; Pillar/post/pier foundation
• Exterior features: Wood exterior; Deck; Level topography; Community waterfront/private beach access; View

Interior

• Kitchen: Refrigerator; Stove/Range
• Bedrooms: 4 bedrooms total (2 on main level, 2 on upper level)
• Flooring: Laminate
• Bathrooms: One three-quarter bathroom (main level) with shower
• Heating & cooling: Stove/free-standing heating; No central cooling
• Interior features: Vaulted ceilings; Fireplace (wood burning); Water heater (tankless, exterior wall)
• Laundry & utility: Water heater (tankless, exterior wall)

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $104k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $630 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $104k).
• Recommended offer: $102k (1.5% below list) — sets the bar for market timing.
• Cap rate 13.6% vs local median 2.6% in Cougar — 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 A — affects rentability + tenant quality, not the cash-flow math above.
• Stevenson-Carson School District (rural): math 32% / reading 51% proficiency, ranked #209 of 291 in WA (top 72%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 43 active listings in the ZIP; 34 units permitted in Skamania County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($719 loan paydown + $4k appreciation (3.5% local appreciation)).
• At projected returns (3.5% appreciation + 3.0% rent growth), your $29k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($102k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $15k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $102,440 (1.5% below list)

Questions for the listing agent

1. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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: 1.76% ✓
• Cap rate: 13.56%
• Cash-on-cash: 25.95%
• DSCR: 2.15
• GRM: 4.7

CMA / ARV

• ARV (median comp): $175,962
• List price: $104,000
• Delta: -40.90%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
Northwoods Cabin 165	0.07mi	3/2.0 (-1)	1,190 (-6%)	2mo	$220,000	$185	77
Cabin 208 Northwoods	0.24mi	4/1.0	1,300 (+3%)	22mo	$195,000	$150	65
Northwoods Cabin 159	0.08mi	3/1.0 (-1)	1,392 (+10%)	12mo	$200,000	$144	64
Cabin 184 Northwoods	0.23mi	4/2.0	1,272 (+1%)	24mo	$149,500	$118	64
Cabin 41 Northwoods	0.27mi	3/1.0 (-1)	1,436 (+14%)	4mo	$325,000	$226	56

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

3.55% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 33.0%
• Equity multiple: 2.92×
• Total profit: $55,795
• Equity at exit: $50,033

10-year hold

• IRR: 32.8%
• Equity multiple: 5.77×
• Total profit: $138,831
• Equity at exit: $79,752

Cash invested: $29,120 (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 98616

• Home prices YoY: 1.5%
• Active inventory: 43
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $1,827 medium
• Mortgage (P&I): −$545
• Tax est. 1.5%: −$130 /mo · $1,560/yr
• Insurance: −$43
• HOA: −$95
• Vacancy / Maint / Mgmt: −$384
• Net cashflow: $630

Break-even live

Break-even rent $1,030

Max offer price $104,000

Occupancy floor 61%

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: $26,000
• Closing costs: $3,120
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $95 · $1,140/yr
• Likely covers: electric

Listing history 2 events

1. 2026-05-04
   listed $119,000 Active 603-char remark

   Show marketing remark (603 chars)

   Major updates have already been completed, making this property a true blank slate ready for your vision. In 2022, the sellers installed a new metal roof, trusses, insulation, and ceiling panels. The cabin has also been upgraded with PEX plumbing, updated 120V and 12V electrical systems, and a brand-new inverter with battery system (purchased in 2020). With most of the heavy lifting already done and fully furnished, you can focus on the fun part, designing and finishing your dream retreat just the way you want it. Don’t miss this incredible opportunity, priced to sell and full of potential!

2. 2026-05-04
   listed $119,000 Active

   Show marketing remark (603 chars)

   Major updates have already been completed, making this property a true blank slate ready for your vision. In 2022, the sellers installed a new metal roof, trusses, insulation, and ceiling panels. The cabin has also been upgraded with PEX plumbing, updated 120V and 12V electrical systems, and a brand-new inverter with battery system (purchased in 2020). With most of the heavy lifting already done and fully furnished, you can focus on the fun part, designing and finishing your dream retreat just the way you want it. Don’t miss this incredible opportunity, priced to sell and full of potential!

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 1/10 Low

Taxation est. · year 1

• Rental income: $21,925
• − Mortgage interest: −$5,826
• − Property taxes: −$1,560
• − Insurance: −$520
• − Repairs & maintenance: −$1,754
• − Management: −$1,754
• − HOA: −$1,140
• − Depreciation: −$3,025
• Taxable income: $6,346
• Est. tax owed @ 24.0%: −$1,523
• After-tax cash flow: $6,033/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.

Condition & rehab AI · 13 photos

Good 75/100 Cosmetic rehab

This cabin is in good condition with recent updates, including a new metal roof and electrical systems. It's ready for a fresh coat of paint and some landscaping to maximize its value.

Repairs flagged

• Minor Paint — Paint is faded but not peeling.
• Minor Landscaping — Landscaping is natural and could benefit from some maintenance.

Value-add opportunities

• Resale Paint — Fresh paint can enhance the home's curb appeal and value.
• Rental Landscaping — Well-maintained landscaping can attract tenants and increase rental value.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Paint · Paint is faded but not peeling.	Minor	$500–3,000
Landscaping · Landscaping is natural and could benefit from some maintenance.	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Resale Paint — Fresh paint can enhance the home's curb appeal and value. ↑
• Rental Landscaping — Well-maintained landscaping can attract tenants and increase rental value. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Stevenson-Carson School District
• NCES district ID: 5308520
• Math proficiency: 32% ▼ -1.00%
• Reading proficiency: 51% ▲ 10.00%
• Median HH income: $46,512
• Composite: 37.73/100
• National rank: #8766
• State rank: #209 of 291 in WA

Livability — Cougar

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

Census & demographics

• Population (ZIP): 81

Population outlook (Skamania County) Hauer SSP2

• Today (2025): 11,886 people
• By 2030: 12,036 · +1.3%
• By 2040: 11,995 · +0.9%
• By 2050: 11,607 · -2.3%
• By 2075: 10,881 · -8.5%
• By 2100: 10,392 · -12.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (99%)
• Race & ethnicity: White 99% Two or more races 1%

Political lean MEDSL · Skamania

• 2024 margin: R (+11.1) · D 43.0% · R 54.2% · Other 2.8%
• 2008→2024 swing: -16.5pp toward R · 2008: 5.3pp · 2024: -11.1pp
• All cycles: 2024: R+11.1 2020: R+9.5 2016: R+12.6 2012: R+1.3 2008: D+5.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 3.55%
• Current HPI: 235.7646
• Rent YoY: —
• Metro: —
• 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

-12.6% since first listed

6 events — show timeline

• 2026-05-26 Pending — NWMLS as Distributed by MLS Grid
• 2026-05-26 Pending — RMLS
• 2026-05-21 Price Changed $104,000 NWMLS as Distributed by MLS Grid
• 2026-05-21 Price Changed $104,000 RMLS
• 2026-05-04 Listed $119,000 RMLS
• 2026-05-04 Listed $119,000 NWMLS as Distributed by MLS Grid