1012 W 12th St · Vancouver, WA 98660

$550,000

4 bd · 5.0 ba · 2,864 sqft · MultiFamily public records · 63 Days on market

Built 1911 3,484 sqft lot $192/sqft · 9% below area Est $740k · 26% 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 +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 4 units. confirmed

Listing remarks MLS

Investor special. Hard to find 4 plex in downtown Vancouver.

Key facts

• 3,484 sq ft lot
• Built 1911
• Listed 63 days

What this means for you Summary

Snapshot

• This is a 4 × 4-bed/4.0-bath units multifamily listed at $550k.

Deal economics

• At list price, monthly cash flow is $4k ($52k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($10k rent vs $550k).
• Recommended offer: $517k (6.0% below list) — sets the bar for market timing.
• Cap rate 15.8% vs local median 2.7% in Vancouver — 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 (#62 in WA, #1,133 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, housing A+; Watch: crime F, 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.
• Market conditions: Rents flat; 98 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 3,547 units permitted in Clark County in 2024 (1,361 in 5+ unit buildings).
• At $9,876/mo this rent would consume 176% of the median local household income ($67k/yr) (locally 1125% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $4k of loan paydown is wiped out by about $16k 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 + 0.2% rent growth), your $154k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 63 days — a 6% lower offer ($517k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $375k; 47% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1911 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $516,999 (6.0% below list)

Questions for the listing agent

1. It's been on market 63 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1911 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Crime grade is F 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?
8. 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.
9. 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.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.80% ✓
• Cap rate: 15.77%
• Cash-on-cash: 33.84%
• DSCR: 2.51
• GRM: 4.6

CMA / ARV

• ARV (median comp): $739,604
• List price: $550,000
• Delta: -25.64%
• Verdict: UNDERPRICED
• Comps: 5 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.2% rent growth · sell at horizon

5-year hold

• IRR: 26.1%
• Equity multiple: 2.04×
• Total profit: $160,324
• Equity at exit: $82,007

10-year hold

• IRR: 32.0%
• Equity multiple: 3.54×
• Total profit: $390,480
• Equity at exit: $47,554

Cash invested: $154,000 (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 98660

• Rents YoY: 0.2%
• Active inventory: 98
• Price-to-rent: 18.6×

Monthly cashflow live

• Estimated rent: $9,876 medium
• Mortgage (P&I): −$2,884
• Tax from tax record: −$346 /mo · $4,154/yr
• Insurance: −$229
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,074
• Net cashflow: $4,342

Break-even live

Break-even rent $4,379

Max offer price $550,000

Occupancy floor 51%

Sensitivity live

Price	-10% $4,654	-5% $4,498	+0% $4,342	+5% $4,187	+10% $4,031
Rent	-10% $3,562	-5% $3,952	+0% $4,342	+5% $4,733	+10% $5,123
Rate	-1.0pp $4,619	-0.5pp $4,482	base $4,342	+0.5pp $4,200	+1.0pp $4,055

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 4× units	4	4	$9,876
Total (4 units)			$9,876

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: $137,500
• Closing costs: $16,500
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1747 N Jantzen Ave Portland, OR	3.0	4.0	2000	$3,100	$1.55	44d	1	1.39mi
1102 NW 41st St Vancouver, WA	4.0	2.0	1938	$2,695	$1.39	4d	1	1.44mi

Listing history 7 events

1. 2026-06-07
   statusdays on market $550,000 Pending 63 DOM
2. 2026-06-03
   days on market $550,000 Active 62 DOM
3. 2026-06-02
   days on market $550,000 Active 61 DOM
4. 2026-06-01
   days on market $550,000 Active 60 DOM
5. 2026-05-31
   days on market $550,000 Active 59 DOM
6. 2026-04-02
   listed $550,000 Active 60-char remark

   Show marketing remark (60 chars)

   Investor special. Hard to find 4 plex in downtown Vancouver.

7. 2025-07-14
   soldstatus $375,000

ⓘ 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: $4,154 · $346/mo
• Projected year-2 tax: $5,390 · $449/mo
• Expected delta: +$1,236/yr (+$103/mo · 29.8%)

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥92°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 19 unhealthy d/yr today · 20 by 30 yrs out

Taxation est. · year 1

• Rental income: $118,512
• − Mortgage interest: −$30,809
• − Property taxes: −$4,154
• − Insurance: −$2,750
• − Repairs & maintenance: −$9,481
• − Management: −$9,481
• − Depreciation: −$16,000
• Taxable income: $45,838
• Est. tax owed @ 24.0%: −$11,001
• After-tax cash flow: $41,109/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 — Vancouver

• Score: 82/100
• State rank: #62
• US rank: #1133

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Vancouver, WA
• County: Clark County · 513,189 people
• City population: 360,195
• Metro: Portland-Vancouver-Hillsboro, OR-WA
• Population (ZIP): 13,212
• Household income: $67,344
• Rent vs Own: 61.8% rent · 38.2% own
• Severe rent burden: 1125.0

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 12% Two or more races 12% Black 4% Asian 2% Native American 2%
• Hispanic origin (detail): Mexican 11%
• Common ancestry: Italian 6% Portuguese 4% Slovak 4%
• Foreign-born: 6% · Canada, Vietnam
• Languages at home: 90% English-only · Spanish 7% Russian/Polish/Slavic 1% Other Asian/Pacific 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: ▼ -332.28%
• Current HPI: 355.0231
• Rent YoY: ▲ 0.20%
• 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

+46.7% since first listed

2 events — show timeline

• 2026-04-02 Listed $550,000 RMLS
• 2025-07-14 Sold (Public Records) $375,000 Public Records

Property tax history

+2.4%/yr

Latest (2026): $4,154 · -0.6% YoY. Source: county tax records.