415 NE 194th St #17 · Duluth, WA 98642

$185,000

4 bd · 2.0 ba · 1,512 sqft · Manufactured public records · 168 Days on market

Built 1994 Est $125k · 47% over ↓ 5% since listing

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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
• Schools +6.0/10.0
• Livability +3.7/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Lowest space rent in Clark County! Space rent $620 per month. This hard-to-find 4-bedroom home is move-in ready and waiting for you to make it your own. You’ll love the open floor plan with a cozy eat-in breakfast nook and spacious rooms with vaulted ceilings throughout. The home has been nicely updated inside and out over the past five years. Call today to set up your private showing!

Key facts

• Built 1994
• Listed 168 days

Property features AI

Finance

• Other: Parcel number 986053489; Paved road access
• Financial info: Monthly lot rent of $590
• HOA & community: Park amenities include water service; Located in Van Ridge Mobile Home Park; Leased land (lot rent charged monthly)

Exterior

• Parking: Driveway parking; Off-street parking
• Utilities: Electric fuel; Community/shared well water; Community/shared septic
• Home design: Manufactured home in a park (residential); Single-story, main living all on one level; Built in 1994; Skirting foundation
• Construction: Composition shingle roof; Built in 1994; Skirting foundation; Cement siding
• Exterior features: Cement siding; Tool shed

Interior

• Kitchen: Quartz countertops; Stainless steel appliances; Free-standing range; Dishwasher; Disposal
• Bedrooms: Primary bedroom on main level with skylight and laminate flooring; Second bedroom on main level with laminate flooring; Third bedroom on main level with laminate flooring; Fourth bedroom on main level with laminate flooring
• Flooring: Laminate flooring; Tile floor
• Bathrooms: Two full bathrooms, both on the main level
• Heating & cooling: Forced air heating; No central air conditioning
• Interior features: Laminate flooring throughout main living areas; Tile flooring in select areas; Skylights; Ceiling fan in living room; Double pane windows with vinyl frames; Washer and dryer included; Crawl space basement/skirting; One-level accessible floorplan
• Laundry & utility: Washer and dryer (included); Electric hot water

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath manufactured listed at $185k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $185k).
• Recommended offer: $163k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 73/100 on livability (#200 in WA) — a middle-class / working-renter tenant base. Strengths: crime A+, health & safety A+, employment B; Watch: commute D, cost of living F.
• Ridgefield School District (rural): math 61% / reading 71% proficiency, ranked #22 of 291 in WA (top 8%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: South Ridge Elementary (720 students, 27% FRL); View Ridge Middle School (591 students, 26% FRL); Ridgefield High School (1,133 students, 28% FRL) — zoned schools at 27% FRL track the district average.
• Market conditions: Rents rising (+3.1%/yr); 534 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); 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 $1k of loan paydown is wiped out by about $6k 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 + 3.1% rent growth), your $52k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 168 days — a 12% lower offer ($163k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $10k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $162,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 168 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. 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: 1.61% ✓
• Cap rate: 14.16%
• Cash-on-cash: 28.11%
• DSCR: 2.25
• GRM: 5.2

CMA / ARV

• ARV (on-the-fly): $125,496
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
415 NE 194th St #41	0.00mi	3/2.0 (-1)	1,404 (-7%)	20mo	$117,000	$83	67
415 NE 194th St #5	0.00mi	3/2.0 (-1)	1,404 (-7%)	22mo	$112,000	$80	65
1900 NE 194th St	0.74mi	3/2.0 (-1)	1,344 (-11%)	12mo	$563,000	$419	32

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 · 3.14% rent growth · sell at horizon

5-year hold

• IRR: 22.4%
• Equity multiple: 1.92×
• Total profit: $47,683
• Equity at exit: $27,584

10-year hold

• IRR: 30.5%
• Equity multiple: 3.75×
• Total profit: $142,614
• Equity at exit: $15,995

Cash invested: $51,800 (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 98642

• Rents YoY: 3.1%
• Active inventory: 534
• Price-to-rent: 5.2×

Monthly cashflow live

• Estimated rent: $2,988 high
• Mortgage (P&I): −$970
• Tax from tax record: −$100 /mo · $1,196/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$627
• Net cashflow: $1,213

Break-even live

Break-even rent $1,452

Max offer price $185,000

Occupancy floor 54%

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1920 NE 179th St Ridgefield, WA	1.0–3.0	1.0–2.0	1063	$2,555	$2.40	1d	31	0.82mi
906 NW 178th St Ridgefield, WA	4.0	3.0	1855	$3,395	$1.83	23d	1	0.94mi
17508 NW 9th Ave Ridgefield, WA	4.0	3.0	1819	$3,000	$1.65	1d	1	1.05mi
17508 NW 9th Ave Ridgefield, WA	4.0	3.0	1819	$3,000	$1.65	12d	1	1.05mi
17409 NW 10th Ave Ridgefield, WA	4.0	2.5	1850	$2,745	$1.48	2d	1	1.08mi

Listing history 6 events

1. 2026-05-31
   days on market $185,000 Active 168 DOM
2. 2026-05-03
   status Pending
3. 2026-01-22
   price $185,000
4. 2026-01-22
   status Active
5. 2026-01-14
   status Pending
6. 2025-11-12
   listed $195,000 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: $1,196 · $100/mo
• Projected year-2 tax: $1,813 · $151/mo
• Expected delta: +$617/yr (+$51/mo · 51.6%)

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

Taxation est. · year 1

• Rental income: $35,851
• − Mortgage interest: −$10,363
• − Property taxes: −$1,196
• − Insurance: −$925
• − Repairs & maintenance: −$2,868
• − Management: −$2,868
• − Depreciation: −$5,382
• Taxable income: $12,249
• Est. tax owed @ 24.0%: −$2,940
• After-tax cash flow: $11,620/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: Ridgefield School District
• NCES district ID: 5307350
• Math proficiency: 61% ▼ -2.00%
• Reading proficiency: 71% ▼ -2.00%
• Median HH income: $80,295
• Composite: 60.29/100
• National rank: #1737
• State rank: #22 of 291 in WA

Livability — Duluth

• Score: 73/100
• State rank: #200
• US rank: #5514

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Clark County · 513,189 people
• Metro: Portland-Vancouver-Hillsboro, OR-WA
• Population (ZIP): 26,816
• Household income: $120,822
• Rent vs Own: 15.9% rent · 84.1% own
• Severe rent burden: 269.0

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 (83%)
• Race & ethnicity: White 83% Two or more races 8% Hispanic / Latino 8% Asian 2% Black 1%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Italian 6% Portuguese 4% Lithuanian 3%
• Foreign-born: 6% · Canada, South Korea
• Languages at home: 93% English-only · Spanish 4% Other Indo-European 1% Russian/Polish/Slavic 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: ▼ -236.84%
• Current HPI: 264.944
• Rent YoY: ▲ 3.14%
• 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

-5.1% since first listed

5 events — show timeline

• 2026-05-03 Pending — RMLS
• 2026-01-22 Price Changed $185,000 RMLS
• 2026-01-22 Relisted — RMLS
• 2026-01-14 Pending — RMLS
• 2025-11-12 Listed $195,000 RMLS

Property tax history

+14.5%/yr

Latest (2026): $1,196 · +58.7% YoY. Source: county tax records.