2392 Douglas Rd #19 · Ferndale, WA 98248

$199,000

2 bd · 1.0 ba · 616 sqft · Manufactured public records · 55 Days on market

Built 1980 701 sqft lot $323/sqft · 84% above area Est $167k · 19% over

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Why this score? — see what drove the D 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 +18.3/30.0
• DSCR +5.7/10.0
• Schools +4.6/10.0
• Livability +4.0/5.0
• Rent growth +3.7/5.0
• 1% rule +3.5/10.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Behold this big, beautiful 3BR, 2BA freshly updated unit located in a quiet, clean, secluded and extremely safe Mobile Court. Features include new plumbling, electrical, roof, floors, drywall, back entrance stairs w/ railing and a gorgeous new "covered" front deck which is perfect for entertaining friends! Inverter technology empowers you to save electricity while using your washer and dryer. You also have excellent versatility with the rooms. You could either use all 3 bedrooms or utilize one of them for an office, art, entertainment or storage space. Property is located just minutes from the heart of Ferndale and only 15-20 minutes from Bellingham. The owners have had this unit

Key facts

• New floors
• New drywall
• New plumbing

Tags

• NEW PLUMBING
• NEW ELECTRICAL
• NEW ROOF
• NEW FLOORS
• NEW DRYWALL
• BACK ENTRANCE STAIRS

Property features AI

Finance

• Other: Calculated living area: 950; Foundation: Slab; Structure type: Manufactured house; Property condition: Good
• Financial info: Listing terms: Cash or Conventional
• HOA & community: Lamplighter Mobile Ct park (63 homes); Park not approved for sale; High speed internet available in park; Land lease: $600

Exterior

• Parking: Uncovered parking; 2 open parking spaces
• Utilities: Public water (City of Ferndale); Public sewer (City of Ferndale); Power by PSE; Cable: Xfinity; Internet: Xfinity
• Home design: Manufactured Home (Double Wide); One level; Entry on slab foundation
• Construction: Composition roof; Other construction materials; Manufactured after 06/15/1976; Mobile home remains
• Exterior features: Patio/porch/deck; Curbs; Dead end street; Other exterior features; Has view

Interior

• Kitchen: Refrigerator; Stove/Range
• Bedrooms: 3 bedrooms
• Flooring: Laminate
• Bathrooms: 3 full bathrooms; 1 bathtub; 2 showers
• Heating & cooling: Forced air heating; Forced air cooling; Has heating and cooling
• Interior features: Living room; Kitchen without eating space; Bath off primary; Patio/porch/deck; Refrigerator; Stove/Range
• Laundry & utility: Electric energy source

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $199k.

Deal economics

• At list price, monthly cash flow is $182 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $170k (14.7% below list).
• Recommended offer: $170k (14.7% below list) — sets the bar for 1% rule.
• Cap rate 7.4% vs local median 2.5% in Ferndale — 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 81/100 on livability (#79 in WA, #1,471 nationally) — a professional / high-income tenant draw. Strengths: commute A+, health & safety A+, housing A; Watch: amenities F, cost of living D-.
• Ferndale School District (suburban): math 43% / reading 58% proficiency, ranked #138 of 291 in WA (top 47%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Ferndale High School (1,323 students, 48% FRL).
• Market conditions: Rents rising fast (+4.8%/yr); 230 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 1,190 units permitted in Whatcom County in 2024 (327 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Whatcom County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 55 days — a 3% lower offer ($193k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $40k; list at $199k implies a 398% gain — meaningful room to come down on a strong offer.

Recommended offer $169,829 (14.7% below list)

Questions for the listing agent

1. It's been on market 55 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
4. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.85% ✗
• Cap rate: 7.39%
• Cash-on-cash: 3.92%
• DSCR: 1.17
• GRM: 9.8

CMA / ARV

• ARV (median comp): $167,242
• List price: $199,000
• Delta: 18.99%
• Verdict: OVERPRICED
• Comps: 3 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2392 Douglas Rd #52	0.00mi	1/1.0 (-1)	616 (0%)	20mo	$134,500	$218	79

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 · 4.79% rent growth · sell at horizon

5-year hold

• IRR: -8.5%
• Equity multiple: 0.68×
• Total profit: $-17,650
• Equity at exit: $29,672

10-year hold

• IRR: 2.9%
• Equity multiple: 1.22×
• Total profit: $12,372
• Equity at exit: $17,206

Cash invested: $55,720 (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 98248

• Rents YoY: 4.8%
• Active inventory: 230
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $1,698 medium
• Mortgage (P&I): −$1,044
• Tax from tax record: −$33 /mo · $398/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$357
• Net cashflow: $182

Break-even live

Break-even rent $1,468

Max offer price $199,000

Occupancy floor 84%

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5601 3rd Ave Unit 7 Ferndale, WA	1.0	1.0	600	$1,200	$2.00	13d	1	0.79mi
5775 Golden Eagle Dr Ferndale, WA	1.0	1.0	600	$1,350	$2.25	43d	1	0.91mi

Listing history 19 events

1. 2026-06-18
   days on market $199,000 Active 55 DOM
2. 2026-06-17
   days on market $199,000 Active 54 DOM
3. 2026-06-16
   days on market $199,000 Active 53 DOM
4. 2026-06-15
   days on market $199,000 Active 52 DOM
5. 2026-06-14
   days on market $199,000 Active 50 DOM
6. 2026-06-13
   days on market $199,000 Active 49 DOM
7. 2026-06-10
   days on market $199,000 Active 47 DOM
8. 2026-06-09
   days on market $199,000 Active 46 DOM
9. 2026-06-08
   days on market $199,000 Active 45 DOM
10. 2026-06-07
    days on market $199,000 Active 44 DOM
11. 2026-06-03
    days on market $199,000 Active 40 DOM
12. 2026-06-02
    days on market $199,000 Active 39 DOM
13. 2026-06-01
    days on market $199,000 Active 38 DOM
14. 2026-05-31
    days on market $199,000 Active 37 DOM
15. 2026-05-30
    days on market $199,000 Active 36 DOM
16. 2026-04-24
    listed $199,000 Active
17. 2023-04-14
    soldstatus $40,000 Closed
18. 2023-04-05
    status Pending
19. 2023-03-14
    listed $40,000 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: $398 · $33/mo
• Projected year-2 tax: $1,950 · $163/mo
• Expected delta: +$1,552/yr (+$129/mo · 389.9%)

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

Taxation est. · year 1

• Rental income: $20,379
• − Mortgage interest: −$11,147
• − Property taxes: −$398
• − Insurance: −$995
• − Repairs & maintenance: −$1,630
• − Management: −$1,630
• − Depreciation: −$5,789
• Taxable loss: −$1,211
• Est. tax savings @ 24.0%: +$291
• After-tax cash flow: $2,474/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: Ferndale School District
• NCES district ID: 5302850
• Math proficiency: 43% ▲ 1.00%
• Reading proficiency: 58% ▲ 4.00%
• Median HH income: $59,413
• Composite: 46.06/100
• National rank: #5494
• State rank: #138 of 291 in WA

Livability — Ferndale

• Score: 81/100
• State rank: #79
• US rank: #1471

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ferndale, WA
• County: Whatcom County · 209,776 people
• City population: 28,498
• Metro: Bellingham, WA
• Population (ZIP): 28,498
• Household income: $91,060
• Rent vs Own: 23.3% rent · 76.7% own
• Severe rent burden: 582.0

Population outlook (Whatcom County) Hauer SSP2

• Today (2025): 240,408 people
• By 2030: 254,667 · +5.9%
• By 2040: 281,365 · +17.0%
• By 2050: 307,592 · +27.9%
• By 2075: 375,576 · +56.2%
• By 2100: 421,637 · +75.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (75%)
• Race & ethnicity: White 75% Hispanic / Latino 11% Two or more races 8% Asian 6% Native American 2%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Iranian 5% Portuguese 4% Italian 4%
• Foreign-born: 12% · Canada, China
• Languages at home: 83% English-only · Spanish 6% Other Indo-European 5% Russian/Polish/Slavic 3%

Political lean MEDSL · Whatcom

• 2024 margin: Strong D (+24.9) · D 60.8% · R 35.9% · Other 3.3%
• 2008→2024 swing: +6.9pp toward D · 2008: 18.0pp · 2024: 24.9pp
• All cycles: 2024: D+24.9 2020: D+23.9 2016: D+17.7 2012: D+12.1 2008: D+18.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -427.43%
• Current HPI: 407.6077
• Rent YoY: ▲ 4.79%
• Metro: Bellingham, 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

+397.5% since first listed

4 events — show timeline

• 2026-04-24 Listed $199,000 NWMLS as Distributed by MLS Grid
• 2023-04-14 Sold (MLS) $40,000 NWMLS as Distributed by MLS Grid
• 2023-04-05 Pending — NWMLS as Distributed by MLS Grid
• 2023-03-14 Listed $40,000 NWMLS as Distributed by MLS Grid

Property tax history

+10.5%/yr

Latest (2026): $398 · +41.5% YoY. Source: county tax records.