10400 NE 72nd Ave #1

Barberton, WA 98686

$110,000B

2 bd · 2.0 ba · 1,102 sqft · Built 2000 · Manufactured · Active · 44 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,063/mo
• Mortgage (P&I): −$577
• Tax + insurance: −$86
• HOA: −$0
• Vac / Maint / Mgmt: −$433
• Net cashflow: $967/mo
• Annual: $11,599/yr
• Cap rate: 16.84%
• Cash-on-cash: 37.66%
• DSCR: 2.68
• 1% rule: 1.88%
• Cash to close: $30,800

Investor read

• This is a 2-bed/2.0-bath manufactured listed at $110k.
• At list price, monthly cash flow is $967 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $110k).
• It's been on market 44 days — a 3% lower offer ($107k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $107k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $761 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 72/100 on livability (#223 in WA) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A-; Watch: amenities F, commute F, cost of living F.
• Battle Ground School District (suburban): math 48% / reading 60% proficiency, ranked #92 of 291 in WA (top 32%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Pleasant Valley Primary (556 students, 42% FRL); Pleasant Valley Middle (396 students, 45% FRL); Prairie High School (1,603 students, 41% FRL).
• Market conditions: Rents flat; 332 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 3,547 units permitted in Clark County in 2024 (1,361 in 5+ unit buildings).
• Clark County population projected at +29% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 2 sale attempts since 29y ago; this cycle's ask has dropped $15k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $7k; list at $110k implies a 1471% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 0.8% rent growth), your $31k cash investment doubles in ~4 years — after that, you're playing with house money.
• Cap rate 16.8% vs local median 2.5% in Barberton — 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.

Questions for listing agent

• It's been on market 44 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.
• 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.
• 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.