11316 NE 28th St #14 · Vancouver, WA 98682

$73,500

2 bd · 1.0 ba · 868 sqft · Manufactured public records · 300 Days on market

Built 1980 $85/sqft · 51% 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +4.1/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

ONE MONTH FREE PARK RENT! Updated and super cute! Updates include: New roof to be installed prior to closing... New flooring, appliances, cabinets, shower, toilet and countertops. Freshly painted inside and out! Super convenient location near EVERYTHING!! Water, sewer and garbage is included in Rent. Stress free living!

Key facts

• New shower
• New flooring
• New cabinets

Tags

• NEW FLOORING
• NEW APPLIANCES
• NEW CABINETS
• NEW SHOWER
• NEW TOILET
• NEW COUNTERTOPS

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $74k.

Deal economics

• At list price, monthly cash flow is $818 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $74k).
• Recommended offer: $65k (12.0% below list) — sets the bar for market timing.
• Cap rate 19.7% 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-.
• 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.
• Market conditions: Rents flat; 461 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 13d 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 $508 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 + 0.6% 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 300 days — a 12% lower offer ($65k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 24y ago; this cycle's ask has dropped $46k (39%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $11k; list at $74k implies a 556% gain — meaningful room to come down on a strong offer.

Recommended offer $64,680 (12.0% below list)

Questions for the listing agent

1. It's been on market 300 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 2.28% ✓
• Cap rate: 19.65%
• Cash-on-cash: 47.71%
• DSCR: 3.12
• GRM: 3.6

CMA / ARV

• ARV (median comp): $150,000
• List price: $73,500
• Delta: -51.00%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.63% rent growth · sell at horizon

5-year hold

• IRR: 42.4%
• Equity multiple: 2.76×
• Total profit: $36,322
• Equity at exit: $10,959

10-year hold

• IRR: 47.4%
• Equity multiple: 5.06×
• Total profit: $83,538
• Equity at exit: $6,355

Cash invested: $20,580 (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 98682

• Rents YoY: 0.6%
• Active inventory: 461
• Price-to-rent: 3.6×

Monthly cashflow live

• Estimated rent: $1,679 high
• Mortgage (P&I): −$385
• Tax est. 1.5%: −$92 /mo · $1,102/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$353
• Net cashflow: $818

Break-even live

Break-even rent $643

Max offer price $73,500

Occupancy floor 46%

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: $18,375
• Closing costs: $2,205
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2201 NE 112th Ave Vancouver, WA	1.0–3.0	1.0–2.0	935	$1,846	$1.97	4d	1	0.42mi
2201 NE 112th Ave Vancouver, WA	1.0	1.0	713	$1,575	$2.21	12d	1	0.42mi
2201 NE 112th Ave Vancouver, WA	1.0	1.0	713	$1,565	$2.19	43d	1	0.42mi
3708 NE 109th Ave Vancouver, WA	1.0–3.0	1.0–2.0	899	$1,779	$1.98	2d	30	0.44mi
11202 NE 20th St Vancouver, WA	1.0–2.0	1.0–2.0	928	$1,923	$2.07	1d	6	0.46mi
10415 NE Oakbrook Cir Vancouver, WA	1.0–2.0	1.0–1.5	764	$1,583	$2.07	2d	6	0.48mi
12101 NE 28th St Vancouver, WA	1.0–2.0	1.0–2.0	806	$2,086	$2.59	2d	13	0.48mi
2000 NE 112th Ave Unit C33 Vancouver, WA	1.0	1.0	824	$1,325	$1.61	16d	1	0.51mi
2000 NE 112th Ave Unit A12 Vancouver, WA	2.0	2.0	1056	$1,545	$1.46	43d	1	0.51mi
11900 NE 18th St Vancouver, WA	1.0–3.0	1.0–3.0	1318	$2,188	$1.66	43d	1	0.52mi
11022 NE 18th St Unit E223 Vancouver, WA	2.0	2.0	1010	$1,445	$1.43	43d	1	0.52mi
11022 NE 18th St Unit C211 Vancouver, WA	2.0	2.0	1010	$1,445	$1.43	2d	1	0.53mi
11022 NE 18th St Unit C213 Vancouver, WA	2.0	2.0	1010	$1,445	$1.43	7d	1	0.53mi
11022 NE 18th St Unit E322 Vancouver, WA	2.0	2.0	1010	$1,395	$1.38	23d	1	0.53mi
1900 NE 113th Ct Vancouver, WA	1.0–2.0	1.0–2.0	887	$1,777	$2.00	1d	6	0.55mi
4000 NE 109th Ave Vancouver, WA	1.0–2.0	1.0–2.5	780	$1,950	$2.50	2d	2	0.56mi
11018 NE 18th St Unit C26 Vancouver, WA	1.0	1.0	801	$1,295	$1.62	43d	1	0.59mi
11018 NE 18th St Unit B20 Vancouver, WA	1.0	1.0	801	$1,345	$1.68	23d	1	0.59mi
4202 NE Morrow Rd #203 Vancouver, WA	2.0	1.5	921	$1,795	$1.95	43d	1	0.63mi
1618 NE 112th Ave Vancouver, WA	1.0	1.0	588	$1,504	$2.56	2d	3	0.68mi
12901 NE 28th St Vancouver, WA	1.0–2.0	1.0	824	$1,934	$2.35	1d	10	0.79mi
11111 NE 48th Cir Unit D Vancouver, WA	2.0	1.0	860	$1,575	$1.83	43d	1	0.88mi
11114 NE 48th Cir Unit B Vancouver, WA	2.0	1.0	700	$1,395	$1.99	43d	1	0.89mi
11205 NE 49th St Unit 11209B Vancouver, WA	2.0	1.0	1104	$1,675	$1.52	12d	1	0.90mi
11205 NE 49th St Unit 11303D Vancouver, WA	2.0	1.0	944	$1,595	$1.69	20d	1	0.90mi
10809 NE 48th Cir Apt C Vancouver, WA	2.0	1.0	806	$1,395	$1.73	43d	1	0.93mi
4821 NE 110th Ave Vancouver, WA	2.0	2.0	1020	$1,595	$1.56	23d	3	0.94mi
3702 NE 132nd Ave Unit 1 Vancouver, WA	2.0	1.0	790	$1,825	$2.31	7d	1	0.96mi
11412 NE 49th St Vancouver, WA	1.0–2.0	1.0–2.0	810	$1,730	$2.14	1d	6	0.98mi
11716 NE 49th St Vancouver, WA	1.0–3.0	1.0–2.5	1090	$1,788	$1.64	7d	15	1.02mi
4905 NE 122nd Ave Vancouver, WA	1.0	1.0	684	$1,500	$2.19	7d	1	1.04mi
911 NE 106th Ave Vancouver, WA	3.0	2.0	1066	$1,895	$1.78	23d	1	1.14mi
909 NE 106th Ave Unit 911 Vancouver, WA	3.0	2.0	1066	$1,895	$1.78	23d	1	1.15mi
13609 NE 28th St Vancouver, WA	2.0	1.0	750	$1,400	$1.87	43d	1	1.15mi
11328 NE 51st Cir Vancouver, WA	2.0–4.0	1.0–2.0	1086	$1,549	$1.43	7d	8	1.19mi
711 NE 112th Ave Vancouver, WA	1.0–3.0	1.0–2.0	1096	$2,298	$2.10	1d	14	1.20mi
2508 NE 138th Ave Vancouver, WA	2.0–3.0	1.0–2.0	979	$1,495	$1.53	2d	5	1.21mi
5264 NE 121st Ave Vancouver, WA	2.0	2.0	944	$1,850	$1.96	43d	1	1.22mi
1330 NE 136th Ave Vancouver, WA	1.0–3.0	1.0–2.0	1016	$2,015	$1.98	2d	15	1.26mi
11301 NE 7th St Vancouver, WA	3.0	1.0–2.0	840	$1,867	$2.22	1d	43	1.29mi

Listing history 20 events

1. 2026-06-18
   days on market $73,500 Active 300 DOM
2. 2026-06-17
   days on market $73,500 Active 299 DOM
3. 2026-06-16
   days on market $73,500 Active 298 DOM
4. 2026-06-15
   days on market $73,500 Active 297 DOM
5. 2026-06-13
   days on market $73,500 Active 295 DOM
6. 2026-06-13
   days on market $73,500 Active 294 DOM
7. 2026-06-09
   days on market $73,500 Active 291 DOM
8. 2026-06-08
   days on market $73,500 Active 290 DOM
9. 2026-06-07
   pricedays on market $73,500 Active 289 DOM
10. 2026-06-03
    days on market $78,500 Active 285 DOM
11. 2026-06-02
    days on market $78,500 Active 284 DOM
12. 2026-06-01
    days on market $78,500 Active 283 DOM
13. 2026-05-31
    days on market $78,500 Active 282 DOM
14. 2026-05-04
    price $78,500 321-char remark

    Show marketing remark (321 chars)

    ONE MONTH FREE PARK RENT! Updated and super cute! Updates include: New roof to be installed prior to closing... New flooring, appliances, cabinets, shower, toilet and countertops. Freshly painted inside and out! Super convenient location near EVERYTHING!! Water, sewer and garbage is included in Rent. Stress free living!

15. 2026-02-12
    price $83,500 321-char remark

    Show marketing remark (321 chars)

    ONE MONTH FREE PARK RENT! Updated and super cute! Updates include: New roof to be installed prior to closing... New flooring, appliances, cabinets, shower, toilet and countertops. Freshly painted inside and out! Super convenient location near EVERYTHING!! Water, sewer and garbage is included in Rent. Stress free living!

16. 2025-12-03
    price $98,500 321-char remark

    Show marketing remark (321 chars)

    ONE MONTH FREE PARK RENT! Updated and super cute! Updates include: New roof to be installed prior to closing... New flooring, appliances, cabinets, shower, toilet and countertops. Freshly painted inside and out! Super convenient location near EVERYTHING!! Water, sewer and garbage is included in Rent. Stress free living!

17. 2025-09-17
    price $109,900 321-char remark

    Show marketing remark (321 chars)

    ONE MONTH FREE PARK RENT! Updated and super cute! Updates include: New roof to be installed prior to closing... New flooring, appliances, cabinets, shower, toilet and countertops. Freshly painted inside and out! Super convenient location near EVERYTHING!! Water, sewer and garbage is included in Rent. Stress free living!

18. 2025-08-22
    listed $120,000 Active 321-char remark

    Show marketing remark (321 chars)

    ONE MONTH FREE PARK RENT! Updated and super cute! Updates include: New roof to be installed prior to closing... New flooring, appliances, cabinets, shower, toilet and countertops. Freshly painted inside and out! Super convenient location near EVERYTHING!! Water, sewer and garbage is included in Rent. Stress free living!

19. 2002-08-26
    soldstatus $11,200 139-char remark

    Show marketing remark (139 chars)

    55+ M.H. PARK - $355. MO. PAYS FOR SPACE,WATER,GBG., AND RECYCLING. 14X60 + EXPAN. AWNINGS...shopping close..panelling (all appliances)

20. 2002-02-08
    listed $11,900 139-char remark

    Show marketing remark (139 chars)

    55+ M.H. PARK - $355. MO. PAYS FOR SPACE,WATER,GBG., AND RECYCLING. 14X60 + EXPAN. AWNINGS...shopping close..panelling (all appliances)

ⓘ 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: $20,145
• − Mortgage interest: −$4,117
• − Property taxes: −$1,102
• − Insurance: −$368
• − Repairs & maintenance: −$1,612
• − Management: −$1,612
• − Depreciation: −$2,138
• Taxable income: $9,197
• Est. tax owed @ 24.0%: −$2,207
• After-tax cash flow: $7,612/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 — 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): 68,305
• Household income: $99,918
• Rent vs Own: 29.6% rent · 70.4% own
• Severe rent burden: 1618.0

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 (69%)
• Race & ethnicity: White 69% Hispanic / Latino 15% Two or more races 13% Asian 6% Black 2% Pacific Islander 1%
• Hispanic origin (detail): Mexican 12%
• Common ancestry: Portuguese 3% Subsaharan African 3% Scotch-Irish 2%
• Foreign-born: 13% · Canada, Vietnam, South Korea
• Languages at home: 79% English-only · Spanish 8% Russian/Polish/Slavic 6% 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: ▼ -303.95%
• Current HPI: 307.0529
• Rent YoY: ▲ 0.63%
• 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

+559.7% since first listed

7 events — show timeline

• 2026-05-04 Price Changed $78,500 RMLS
• 2026-02-12 Price Changed $83,500 RMLS
• 2025-12-03 Price Changed $98,500 RMLS
• 2025-09-17 Price Changed $109,900 RMLS
• 2025-08-22 Listed $120,000 RMLS
• 2002-08-26 Sold (MLS) $11,200 RMLS
• 2002-02-08 Listed $11,900 RMLS

Property tax history

+4.8%/yr

Latest (2026): $96 · +35.5% YoY. Source: county tax records.