1805 NE 94th St #21 · Hazel Dell, WA 98665

$75,000

2 bd · 1.5 ba · 1,080 sqft · Manufactured public records · 16 Days on market

Built 1995 Est $91k · 17% 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 +4.1/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Charming 3-bedroom 1.5 bath, manufactured home in the well-maintained Cypress Point community. Features laminate flooring and appliances included for easy move-in. Enjoy a nice yard with space to relax or garden. A great opportunity for comfortable, low-maintenance living!

Key facts

• Laminate flooring
• Appliances included
• Nice yard

Tags

• LAMINATE FLOORING
• APPLIANCES INCLUDED
• NICE YARD

Property features AI

Finance

• Other: Property is resale and not new construction
• Financial info: Land lease expires July 1, 2026; Monthly lot rent indicated
• HOA & community: Located in Cypress Point park; Senior community; Pet restrictions (pets under 25 lbs); Land lease in place (lot rent paid monthly)

Exterior

• Parking: Carport; Driveway
• Security: No security features listed
• Utilities: Electric fuel; Public water; Public sewer; Cable internet available
• Home design: Manufactured home in a park (residential); Single-story (one-level); Model: Lakepointe; Manufacturer: Fleetwood; Territorial view
• Construction: Composition roof; Skirting foundation; Built in 1995
• Exterior features: Deck; Yard; Wood siding; Level lot; Paved road access

Interior

• Kitchen: Dishwasher; Free-standing range; Free-standing refrigerator
• Bedrooms: Primary bedroom on main level with bathroom and closet; Second bedroom on main level with closet; Third bedroom on main level with closet
• Flooring: Laminate flooring
• Bathrooms: Two bathrooms (one full and one partial; main level)
• Heating & cooling: Forced air heating; No cooling listed
• Interior features: One-level living (accessible); Laminate flooring; Vinyl window frames; Crawl space basement/skirting
• Laundry & utility: Electric hot water

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath manufactured listed at $75k.

Deal economics

• At list price, monthly cash flow is $962 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $75k).
• Recommended offer: $74k (1.5% below list) — sets the bar for market timing.
• Cap rate 21.7% vs local median 3.2% in Hazel Dell — 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 82/100 on livability (#67 in WA, #1,216 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, housing A+; Watch: crime D+, cost of living D.
• Vancouver School District (suburban): math 43% / reading 53% proficiency, ranked #156 of 291 in WA (top 54%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Sarah J Anderson Elementary (660 students, 53% FRL); Gaiser Middle School (763 students, 69% FRL); Skyview High School (1,739 students, 33% FRL).
• Market conditions: Rents rising (+2.0%/yr); 187 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 8d 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 $519 of loan paydown is wiped out by about $2k 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 + 2.0% rent growth), your $21k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($74k) is reasonable based on typical stale-listing flexibility.

Recommended offer $73,875 (1.5% below list)

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 F-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: 2.38% ✓
• Cap rate: 21.69%
• Cash-on-cash: 54.98%
• DSCR: 3.45
• GRM: 3.5

CMA / ARV

• ARV (on-the-fly): $90,720
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1805 NE 94th St #56	0.00mi	3/2.0 (+1)	1,188 (+10%)	9mo	$98,500	$83	69
507 NE 99th St #67	0.73mi	2/2.0	1,050 (-3%)	3mo	$95,000	$90	57
507 NE 99th St #91	0.73mi	2/2.0	1,048 (-3%)	20mo	$114,900	$110	42
507 NE 99th St #43	0.73mi	2/2.0	1,188 (+10%)	17mo	$100,000	$84	33
507 NE 99th St #51	0.73mi	2/2.0	1,188 (+10%)	20mo	$87,500	$74	30

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 · 2.0% rent growth · sell at horizon

5-year hold

• IRR: 52.1%
• Equity multiple: 3.25×
• Total profit: $47,328
• Equity at exit: $11,183

10-year hold

• IRR: 57.0%
• Equity multiple: 6.38×
• Total profit: $112,895
• Equity at exit: $6,485

Cash invested: $21,000 (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 98665

• Rents YoY: 2.0%
• Active inventory: 187
• Price-to-rent: 3.5×

Monthly cashflow live

• Estimated rent: $1,786 high
• Mortgage (P&I): −$393
• Tax from tax record: −$25 /mo · $294/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$375
• Net cashflow: $962

Break-even live

Break-even rent $568

Max offer price $75,000

Occupancy floor 41%

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9501 NE 19th Ave Vancouver, WA	1.0–2.0	1.0–2.5	844	$2,099	$2.49	3d	20	0.11mi
9211 NE 15th Ave Vancouver, WA	1.0–3.0	1.0–2.0	900	$1,649	$1.83	2d	22	0.18mi
8917 NE 15th Ave Vancouver, WA	2.0	1.0	850	$1,395	$1.64	2d	11	0.21mi
1801 NE 99th St Unit 9802-6 Vancouver, WA	2.0	1.5	910	$1,395	$1.53	24d	1	0.27mi
1532 NE 87th Way Vancouver, WA	3.0	2.5	1418	$2,295	$1.62	24d	1	0.29mi
8601 NE 21st Ave Unit D Vancouver, WA	3.0	2.5	1155	$2,200	$1.90	15d	1	0.29mi
8601 NE 21st Ave Unit D Vancouver, WA	3.0	2.5	1155	$2,200	$1.90	12d	1	0.29mi
1405 NE 88th St Vancouver, WA	1.0	1.0	733	$1,550	$2.11	24d	1	0.38mi
9917 NE 13th Ave Vancouver, WA	2.0	1.0	707	$1,645	$2.33	3d	4	0.43mi
2703 NE 99th St Vancouver, WA	1.0	1.0	800	$1,700	$2.12	4d	1	0.46mi
1824 NE 104th Loop Vancouver, WA	2.0	1.0	847	$1,420	$1.68	24d	1	0.47mi
1016 NE 86th St Vancouver, WA	2.0	1.0	950	$1,475	$1.55	24d	1	0.56mi
1008 NE 86th St Vancouver, WA	2.0	1.0	700	$1,395	$1.99	24d	1	0.57mi
10223 NE 13th Ave Vancouver, WA	2.0	2.0	850	$1,675	$1.97	24d	1	0.57mi
932 NE 86th St Vancouver, WA	2.0	1.0	700	$1,295	$1.85	24d	1	0.58mi
928 NE 86th St Vancouver, WA	2.0	1.0	700	$1,250	$1.79	11d	1	0.59mi
1437 NE 82nd Dr Vancouver, WA	3.0	2.5	1500	$2,695	$1.80	3d	1	0.59mi
1106 NE 83rd St Vancouver, WA	1.0–3.0	1.0–2.5	1058	$1,932	$1.83	20d	1	0.63mi
8208 NE 13th Ave Vancouver, WA	2.0	1.0	750	$1,450	$1.93	24d	1	0.63mi
10117 NE 9th Ave Vancouver, WA	1.0–2.0	1.0–2.0	790	$1,470	$1.86	2d	8	0.65mi
7900 NE 18th Ave Vancouver, WA	1.0–3.0	1.0	755	$1,408	$1.86	2d	4	0.65mi
2301 NE 81st St Vancouver, WA	1.0–3.0	1.0–2.0	1080	$1,975	$1.83	2d	10	0.66mi
10316 NE Stutz Rd Vancouver, WA	2.0	1.0	880	$1,300	$1.48	24d	1	0.66mi
8005 NE 13th Ave Vancouver, WA	1.0–2.0	1.0–2.0	849	$2,045	$2.41	8d	14	0.68mi
608 NE 86th St Vancouver, WA	2.0	2.0	1031	$1,825	$1.77	3d	1	0.70mi
1115 NE 105th St Vancouver, WA	1.0–2.0	1.0–2.0	835	$1,615	$1.93	8d	6	0.71mi
8003 NE 13th Ave Vancouver, WA	1.0–2.0	1.0–2.0	845	$2,045	$2.42	8d	16	0.71mi
405 NE 85th St Vancouver, WA	2.0	1.5	1116	$2,299	$2.06	3d	1	0.77mi
10223 NE Notchlog Dr Vancouver, WA	2.0	1.0	665	$1,646	$2.48	8d	1	0.77mi
8415 NE Hazel Dell Ave Vancouver, WA	2.0–3.0	1.0	871	$1,500	$1.72	2d	4	0.84mi
345 NE 105th St Vancouver, WA	3.0	1.5	1260	$2,350	$1.87	4d	1	0.92mi
11201 NE Highway 99 Vancouver, WA	2.0	1.0	825	$1,359	$1.65	8d	1	0.93mi
7439 NE 13th Ave Vancouver, WA	2.0	1.0	817	$1,438	$1.76	22d	2	0.94mi
8500 NE Hazel Dell Ave Vancouver, WA	1.0–2.0	1.0–2.0	837	$1,675	$2.00	11d	2	0.96mi
7306 NE 16th Ave #1 Vancouver, WA	2.0	1.0	988	$1,395	$1.41	24d	1	0.98mi
7301 NE 13th Ave Vancouver, WA	2.0	1.0	840	$1,520	$1.81	3d	6	1.03mi
8007 NE 38th Ave Vancouver, WA	3.0	2.5	1477	$2,395	$1.62	3d	1	1.12mi
7317 NE Hazel Dell Ave #10 Vancouver, WA	2.0	1.0	1037	$1,395	$1.35	24d	1	1.13mi
7714 NE 39th Ct Vancouver, WA	1.0–2.0	1.0–2.0	921	$2,035	$2.21	2d	12	1.23mi
145 NW 76th St Vancouver, WA	3.0	2.5	1349	$2,245	$1.66	8d	1	1.27mi

Listing history 2 events

1. 2026-05-15
   status Pending
2. 2026-04-28
   listed $75,000 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: $294 · $25/mo
• Projected year-2 tax: $735 · $61/mo
• Expected delta: +$441/yr (+$37/mo · 149.8%)

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

Taxation est. · year 1

• Rental income: $21,435
• − Mortgage interest: −$4,201
• − Property taxes: −$294
• − Insurance: −$375
• − Repairs & maintenance: −$1,715
• − Management: −$1,715
• − Depreciation: −$2,182
• Taxable income: $10,954
• Est. tax owed @ 24.0%: −$2,629
• After-tax cash flow: $8,916/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: Vancouver School District
• NCES district ID: 5309270
• Math proficiency: 43% ▬ 0.00%
• Reading proficiency: 53% ▬ 0.00%
• Median HH income: $52,562
• Composite: 43.45/100
• National rank: #6479
• State rank: #156 of 291 in WA

Livability — Hazel Dell

• Score: 82/100
• State rank: #67
• US rank: #1216

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hazel Dell, WA
• County: Clark County · 513,189 people
• City population: 28,243
• Metro: Portland-Vancouver-Hillsboro, OR-WA
• Population (ZIP): 28,910
• Household income: $88,559
• Rent vs Own: 42.0% rent · 58.0% own
• Severe rent burden: 1070.0

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 (70%)
• Race & ethnicity: White 70% Hispanic / Latino 14% Two or more races 11% Asian 5% Black 3%
• Hispanic origin (detail): Mexican 12%
• Common ancestry: Portuguese 5% Italian 4% Slovak 3%
• Foreign-born: 12% · Canada, China
• Languages at home: 80% English-only · Spanish 9% Russian/Polish/Slavic 3% Other Asian/Pacific 2%

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: ▼ -274.20%
• Current HPI: 303.1342
• Rent YoY: ▲ 2.00%
• 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

2 events — show timeline

• 2026-05-15 Pending — RMLS
• 2026-04-28 Listed $75,000 RMLS

Property tax history

-2.6%/yr

Latest (2026): $294 · +20.2% YoY. Source: county tax records.