26801 NE 9th St #46 · Fern Prairie, WA 98607

$106,868

3 bd · 2.0 ba · 924 sqft · Manufactured public records · 148 Days on market

Built 1983 Est $77k · 39% over

---

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
• Schools +6.9/10.0
• Rent growth +3.1/5.0
• Livability +3.1/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

A Move-In-Ready Home in the Desirable Camas area featuring 3 Bedrooms, 1.5 Baths, an Open Concept of a Great Room with Laminate Floors throughout and Decent Size of Side Yard. Refrigerator, Washer and Dryer are included. Park rent fee ($780/month) includes water, sewer & garbage. Park does not allow rentals. All other furniture are negotiable. Buyer to verify all information.

Key facts

• Laminate floors
• Move-in-ready home
• Open concept

Tags

• MOVE-IN-READY HOME
• OPEN CONCEPT
• LAMINATE FLOORS
• DECENT SIZE SIDE YARD
• REFRIGERATOR INCLUDED
• WASHER AND DRYER INCLUDED

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $107k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $107k).
• Recommended offer: $94k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 61/100 on livability (#433 in WA) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: schools F, amenities F, commute F.
• Camas School District (suburban): math 73% / reading 80% proficiency, ranked #8 of 291 in WA (top 3%) — strong family-tenant draw, lease renewals of 3-5y typical; only 14% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising (+2.5%/yr); 547 active listings in the ZIP; high-income renter base; 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 $739 of loan paydown is wiped out by about $3k 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 + 2.5% rent growth), your $30k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 148 days — a 12% lower offer ($94k) is reasonable based on typical stale-listing flexibility.

Recommended offer $94,043 (12.0% below list)

Questions for the listing agent

1. It's been on market 148 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. 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?
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: 2.17% ✓
• Cap rate: 18.57%
• Cash-on-cash: 43.85%
• DSCR: 2.95
• GRM: 3.8

CMA / ARV

• ARV (on-the-fly): $76,692
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
26801 NE 9th St	0.06mi	2/2.0 (-1)	924 (0%)	17mo	$76,400	$83	78

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 · 2.46% rent growth · sell at horizon

5-year hold

• IRR: 40.2%
• Equity multiple: 2.71×
• Total profit: $51,099
• Equity at exit: $15,934

10-year hold

• IRR: 46.2%
• Equity multiple: 5.32×
• Total profit: $129,216
• Equity at exit: $9,240

Cash invested: $29,923 (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 98607

• Rents YoY: 2.5%
• Active inventory: 547
• Price-to-rent: 3.8×

Monthly cashflow live

• Estimated rent: $2,319 medium
• Mortgage (P&I): −$560
• Tax est. 1.5%: −$134 /mo · $1,603/yr
• Insurance: −$45
• HOA: −$0
• Vacancy / Maint / Mgmt: −$487
• Net cashflow: $1,093

Break-even live

Break-even rent $935

Max offer price $106,868

Occupancy floor 48%

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: $26,717
• Closing costs: $3,206
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-06-18
   days on market $106,868 Active 148 DOM
2. 2026-06-17
   days on market $106,868 Active 147 DOM
3. 2026-06-16
   days on market $106,868 Active 146 DOM
4. 2026-06-15
   days on market $106,868 Active 145 DOM
5. 2026-06-13
   days on market $106,868 Active 143 DOM
6. 2026-06-13
   days on market $106,868 Active 142 DOM
7. 2026-06-09
   days on market $106,868 Active 139 DOM
8. 2026-06-08
   days on market $106,868 Active 138 DOM
9. 2026-06-07
   days on market $106,868 Active 137 DOM
10. 2026-06-03
    days on market $106,868 Active 133 DOM
11. 2026-06-02
    days on market $106,868 Active 132 DOM
12. 2026-06-01
    days on market $106,868 Active 131 DOM
13. 2026-05-31
    days on market $106,868 Active 130 DOM
14. 2026-01-21
    listed $106,868 Active 382-char remark

    Show marketing remark (382 chars)

    A Move-In-Ready Home in the Desirable Camas area featuring 3 Bedrooms, 1.5 Baths, an Open Concept of a Great Room with Laminate Floors throughout and Decent Size of Side Yard. Refrigerator, Washer and Dryer are included. Park rent fee ($780/month) includes water, sewer & garbage. Park does not allow rentals. All other furniture are negotiable. Buyer to verify all information.

ⓘ 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: $27,826
• − Mortgage interest: −$5,986
• − Property taxes: −$1,603
• − Insurance: −$534
• − Repairs & maintenance: −$2,226
• − Management: −$2,226
• − Depreciation: −$3,109
• Taxable income: $12,141
• Est. tax owed @ 24.0%: −$2,914
• After-tax cash flow: $10,206/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: Camas School District
• NCES district ID: 5300810
• Math proficiency: 73% ▲ 1.00%
• Reading proficiency: 80% ▼ -2.00%
• Median HH income: $85,054
• Composite: 69.02/100
• National rank: #656
• State rank: #8 of 291 in WA

Livability — Fern Prairie

• Score: 61/100
• State rank: #433
• US rank: #17502

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fern Prairie, WA
• County: Clark County · 513,189 people
• City population: 35,661
• Metro: Portland-Vancouver-Hillsboro, OR-WA
• Population (ZIP): 35,867
• Household income: $128,318
• Rent vs Own: 21.3% rent · 78.7% own
• Severe rent burden: 636.0

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% Two or more races 11% Asian 10% Hispanic / Latino 5% Black 2%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Italian 4% Portuguese 4% Lithuanian 2%
• Foreign-born: 11% · China, Canada, South Korea
• Languages at home: 87% English-only · Chinese 4% Russian/Polish/Slavic 2% Spanish 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: ▼ -392.89%
• Current HPI: 296.7273
• Rent YoY: ▲ 2.46%
• 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

1 event — show timeline

• 2026-01-21 Listed $106,868 RMLS

Property tax history

-0.9%/yr

Latest (2026): $108 · +58.1% YoY. Source: county tax records.