1220 NE Knowles Dr · Salmon Creek, WA 98685

$91,000

2 bd · 1.0 ba · 644 sqft · Manufactured public records · 23 Days on market

Built 1987 Est $88k · at est.

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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 +5.7/15.0
• Schools +4.3/10.0
• Livability +4.2/5.0
• Rent growth +3.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Thoughtfully updated in all the right places, this comfortable 1 bedroom + flex space home with generous outdoor area is ready for your ideas. With space rent at $586.85/mo this home is tucked into the peaceful Mobile Retreat 55+ community in North Salmon Creek. Showing off some nice updates it offers comfort, flexibility and exceptional value in a prime location. Originally a two-bedroom, the home was reconfigured in 2015 to create a primary bedroom and versatile flex space with closet, perfect for home office, craft area or hobbies. As a result of this remodel, the home received meaningful behind-the-walls updates including new insulation, sheetrock, electrical wiring and plumbing. Additional updates include flooring, an updated kitchen, fresh interior paint and vinyl windows creating a clean and move-in ready feel. The new step-in shower adds everyday convenience, and all appliances stay, including the washer and dryer, plus a TV stand and full size bed frame that pairs with the closet system for a cohesive look. Outside, enjoy a large yard with 20 raised garden beds, three newer storage sheds (9x6),(8x10) with covered porch, and (10x12), plus enjoy a covered porch (12x8) off the house and covered patio (11x8) for year-round enjoyment. Parking is a standout feature with a newly constructed oversized carport for up to three vehicles, plus driveway parking for two more. Located just minutes from I-5 and I-205 and close proximity to grocery stores, dining and medical services. With low monthly space rent of $586.85 (including sewer), this is an excellent opportunity for affordable living in North Salmon Creek. Buyer must be park approved. Bring your cat or small dog up to 25lbs. Seller to provide a 1-year home warranty (up to $600), with buyer's choice of preferred provider.

Key facts

• Vinyl windows
• Newer furnace
• Spacious one bedroom

Tags

• SPACIOUS ONE BEDROOM
• 2015 REMODEL
• UPDATED FLOORING
• REFRESHED KITCHEN
• VINYL WINDOWS
• NEWER FURNACE

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $91k.

Deal economics

• At list price, monthly cash flow is $984 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $91k).
• Recommended offer: $90k (1.5% below list) — sets the bar for market timing.
• Cap rate 19.3% vs local median 2.9% in Salmon Creek — 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 84/100 on livability (#40 in WA, #702 nationally) — a professional / high-income tenant draw. Strengths: commute A+, employment A+, housing A+; Watch: cost of living F.
• Vancouver School District (suburban): math 43% / reading 53% proficiency, ranked #156 of 291 in WA (top 54%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+4.2%/yr); 238 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals leasing fast (median 10d 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).
• This rent is only 18% of the median local income ($131k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $629 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 + 4.2% rent growth), your $25k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($90k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 11y 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 $20k; list at $91k implies a 355% gain — meaningful room to come down on a strong offer.

Recommended offer $89,635 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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.
3. 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.
4. 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: 2.14% ✓
• Cap rate: 19.26%
• Cash-on-cash: 46.33%
• DSCR: 3.06
• GRM: 3.9

CMA / ARV

• ARV (on-the-fly): $87,584
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1220 NE Knowles Dr	0.00mi	1/1.0 (-1)	644 (0%)	1mo	$87,500	$136	94

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 · 4.25% rent growth · sell at horizon

5-year hold

• IRR: 44.9%
• Equity multiple: 2.98×
• Total profit: $50,360
• Equity at exit: $13,568

10-year hold

• IRR: 51.3%
• Equity multiple: 6.29×
• Total profit: $134,868
• Equity at exit: $7,868

Cash invested: $25,480 (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 98685

• Rents YoY: 4.2%
• Active inventory: 238
• Price-to-rent: 3.9×

Monthly cashflow live

• Estimated rent: $1,943 high
• Mortgage (P&I): −$477
• Tax from tax record: −$37 /mo · $439/yr
• Insurance: −$38
• HOA: −$0
• Vacancy / Maint / Mgmt: −$408
• Net cashflow: $984

Break-even live

Break-even rent $698

Max offer price $91,000

Occupancy floor 44%

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: $22,750
• Closing costs: $2,730
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2406 NE 139th St Vancouver, WA	1.0–3.0	1.0–3.0	1232	$2,470	$2.00	1d	14	0.81mi
13816 NE Salmon Creek Ave Unit 223 Vancouver, WA	1.0	1.0	580	$1,590	$2.74	16d	1	1.02mi
13816 NE Salmon Creek Ave Apt 220 Vancouver, WA	1.0	1.0	580	$1,580	$2.72	23d	1	1.02mi
13816 NE Salmon Creek Ave Unit 120 Vancouver, WA	1.0	1.0	580	$1,600	$2.76	10d	1	1.02mi
13816 NE Salmon Creek Ave Unit 221 Vancouver, WA	1.0	1.0	580	$1,550	$2.67	10d	1	1.02mi
13816 NE Salmon Creek Ave Vancouver, WA	1.0–2.0	1.0–1.5	726	$1,775	$2.44	4d	4	1.02mi
13216 NE Salmon Creek Ave Unit S2 Vancouver, WA	1.0	1.0	670	$1,650	$2.46	23d	1	1.04mi
13914 NE Salmon Creek Ave Vancouver, WA	1.0–2.0	1.0–2.0	859	$1,925	$2.24	1d	14	1.11mi
16501 NE 15th Ave Ridgefield, WA	1.0–2.0	1.0–2.0	952	$1,825	$1.92	2d	7	1.24mi

Listing history 7 events

1. 2026-04-26
   status Pending

   Show marketing remark (1805 chars)

   Thoughtfully updated in all the right places, this comfortable 1 bedroom + flex space home with generous outdoor area is ready for your ideas. With space rent at $586.85/mo this home is tucked into the peaceful Mobile Retreat 55+ community in North Salmon Creek. Showing off some nice updates it offers comfort, flexibility and exceptional value in a prime location. Originally a two-bedroom, the home was reconfigured in 2015 to create a primary bedroom and versatile flex space with closet, perfect for home office, craft area or hobbies. As a result of this remodel, the home received meaningful behind-the-walls updates including new insulation, sheetrock, electrical wiring and plumbing. Additional updates include flooring, an updated kitchen, fresh interior paint and vinyl windows creating a clean and move-in ready feel. The new step-in shower adds everyday convenience, and all appliances stay, including the washer and dryer, plus a TV stand and full size bed frame that pairs with the closet system for a cohesive look. Outside, enjoy a large yard with 20 raised garden beds, three newer storage sheds (9x6),(8x10) with covered porch, and (10x12), plus enjoy a covered porch (12x8) off the house and covered patio (11x8) for year-round enjoyment. Parking is a standout feature with a newly constructed oversized carport for up to three vehicles, plus driveway parking for two more. Located just minutes from I-5 and I-205 and close proximity to grocery stores, dining and medical services. With low monthly space rent of $586.85 (including sewer), this is an excellent opportunity for affordable living in North Salmon Creek. Buyer must be park approved. Bring your cat or small dog up to 25lbs. Seller to provide a 1-year home warranty (up to $600), with buyer's choice of preferred provider.

2. 2026-04-26
   status Pending 1805-char remark

   Show marketing remark (1805 chars)

   Thoughtfully updated in all the right places, this comfortable 1 bedroom + flex space home with generous outdoor area is ready for your ideas. With space rent at $586.85/mo this home is tucked into the peaceful Mobile Retreat 55+ community in North Salmon Creek. Showing off some nice updates it offers comfort, flexibility and exceptional value in a prime location. Originally a two-bedroom, the home was reconfigured in 2015 to create a primary bedroom and versatile flex space with closet, perfect for home office, craft area or hobbies. As a result of this remodel, the home received meaningful behind-the-walls updates including new insulation, sheetrock, electrical wiring and plumbing. Additional updates include flooring, an updated kitchen, fresh interior paint and vinyl windows creating a clean and move-in ready feel. The new step-in shower adds everyday convenience, and all appliances stay, including the washer and dryer, plus a TV stand and full size bed frame that pairs with the closet system for a cohesive look. Outside, enjoy a large yard with 20 raised garden beds, three newer storage sheds (9x6),(8x10) with covered porch, and (10x12), plus enjoy a covered porch (12x8) off the house and covered patio (11x8) for year-round enjoyment. Parking is a standout feature with a newly constructed oversized carport for up to three vehicles, plus driveway parking for two more. Located just minutes from I-5 and I-205 and close proximity to grocery stores, dining and medical services. With low monthly space rent of $586.85 (including sewer), this is an excellent opportunity for affordable living in North Salmon Creek. Buyer must be park approved. Bring your cat or small dog up to 25lbs. Seller to provide a 1-year home warranty (up to $600), with buyer's choice of preferred provider.

3. 2026-04-03
   listed $91,000 Active

   Show marketing remark (1805 chars)

   Thoughtfully updated in all the right places, this comfortable 1 bedroom + flex space home with generous outdoor area is ready for your ideas. With space rent at $586.85/mo this home is tucked into the peaceful Mobile Retreat 55+ community in North Salmon Creek. Showing off some nice updates it offers comfort, flexibility and exceptional value in a prime location. Originally a two-bedroom, the home was reconfigured in 2015 to create a primary bedroom and versatile flex space with closet, perfect for home office, craft area or hobbies. As a result of this remodel, the home received meaningful behind-the-walls updates including new insulation, sheetrock, electrical wiring and plumbing. Additional updates include flooring, an updated kitchen, fresh interior paint and vinyl windows creating a clean and move-in ready feel. The new step-in shower adds everyday convenience, and all appliances stay, including the washer and dryer, plus a TV stand and full size bed frame that pairs with the closet system for a cohesive look. Outside, enjoy a large yard with 20 raised garden beds, three newer storage sheds (9x6),(8x10) with covered porch, and (10x12), plus enjoy a covered porch (12x8) off the house and covered patio (11x8) for year-round enjoyment. Parking is a standout feature with a newly constructed oversized carport for up to three vehicles, plus driveway parking for two more. Located just minutes from I-5 and I-205 and close proximity to grocery stores, dining and medical services. With low monthly space rent of $586.85 (including sewer), this is an excellent opportunity for affordable living in North Salmon Creek. Buyer must be park approved. Bring your cat or small dog up to 25lbs. Seller to provide a 1-year home warranty (up to $600), with buyer's choice of preferred provider.

4. 2026-04-03
   listed $91,000 Active 1805-char remark

   Show marketing remark (1805 chars)

   Thoughtfully updated in all the right places, this comfortable 1 bedroom + flex space home with generous outdoor area is ready for your ideas. With space rent at $586.85/mo this home is tucked into the peaceful Mobile Retreat 55+ community in North Salmon Creek. Showing off some nice updates it offers comfort, flexibility and exceptional value in a prime location. Originally a two-bedroom, the home was reconfigured in 2015 to create a primary bedroom and versatile flex space with closet, perfect for home office, craft area or hobbies. As a result of this remodel, the home received meaningful behind-the-walls updates including new insulation, sheetrock, electrical wiring and plumbing. Additional updates include flooring, an updated kitchen, fresh interior paint and vinyl windows creating a clean and move-in ready feel. The new step-in shower adds everyday convenience, and all appliances stay, including the washer and dryer, plus a TV stand and full size bed frame that pairs with the closet system for a cohesive look. Outside, enjoy a large yard with 20 raised garden beds, three newer storage sheds (9x6),(8x10) with covered porch, and (10x12), plus enjoy a covered porch (12x8) off the house and covered patio (11x8) for year-round enjoyment. Parking is a standout feature with a newly constructed oversized carport for up to three vehicles, plus driveway parking for two more. Located just minutes from I-5 and I-205 and close proximity to grocery stores, dining and medical services. With low monthly space rent of $586.85 (including sewer), this is an excellent opportunity for affordable living in North Salmon Creek. Buyer must be park approved. Bring your cat or small dog up to 25lbs. Seller to provide a 1-year home warranty (up to $600), with buyer's choice of preferred provider.

5. 2015-04-27
   soldstatus $20,000 Sold 374-char remark

   Show marketing remark (374 chars)

   Great location! Close to shopping & I-5 & I-205. Storage shed & heat pump. 5 year old roof & new windows. Great fenced back yard with raised beds. Covered deck. Large area for parking up to 4 cars. All appliances stay. LAMINATE FLOORS! Step in shower. Needs inside paint. Sold as is. Seller will do no repairs. Vacant & ready for a quick close.

6. 2015-04-14
   status Pending 374-char remark

   Show marketing remark (374 chars)

   Great location! Close to shopping & I-5 & I-205. Storage shed & heat pump. 5 year old roof & new windows. Great fenced back yard with raised beds. Covered deck. Large area for parking up to 4 cars. All appliances stay. LAMINATE FLOORS! Step in shower. Needs inside paint. Sold as is. Seller will do no repairs. Vacant & ready for a quick close.

7. 2015-04-12
   listed $20,000 Active 374-char remark

   Show marketing remark (374 chars)

   Great location! Close to shopping & I-5 & I-205. Storage shed & heat pump. 5 year old roof & new windows. Great fenced back yard with raised beds. Covered deck. Large area for parking up to 4 cars. All appliances stay. LAMINATE FLOORS! Step in shower. Needs inside paint. Sold as is. Seller will do no repairs. Vacant & ready for a quick close.

ⓘ 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: $439 · $37/mo
• Projected year-2 tax: $892 · $74/mo
• Expected delta: +$453/yr (+$38/mo · 103.2%)

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

Taxation est. · year 1

• Rental income: $23,322
• − Mortgage interest: −$5,097
• − Property taxes: −$439
• − Insurance: −$455
• − Repairs & maintenance: −$1,866
• − Management: −$1,866
• − Depreciation: −$2,647
• Taxable income: $10,952
• Est. tax owed @ 24.0%: −$2,628
• After-tax cash flow: $9,175/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: Vancouver School District
• NCES district ID: 5309270
• Math proficiency: 43% ▬ 0.00%
• Reading proficiency: 53% ▬ 0.00%
• Median HH income: $52,562
• Composite: 43.45/100
• National rank: #6479
• State rank: #156 of 291 in WA

Livability — Salmon Creek

• Score: 84/100
• State rank: #40
• US rank: #702

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Salmon Creek, WA
• County: Clark County · 513,189 people
• Metro: Portland-Vancouver-Hillsboro, OR-WA
• Population (ZIP): 30,607
• Household income: $130,972
• Rent vs Own: 15.2% rent · 84.8% own
• Severe rent burden: 224.0

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 (79%)
• Race & ethnicity: White 79% Two or more races 10% Hispanic / Latino 9% Asian 4% Black 2%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Portuguese 4% Italian 4% Slovak 4%
• Foreign-born: 9% · Canada, China, South Korea
• Languages at home: 90% English-only · Spanish 3% Russian/Polish/Slavic 2% Chinese 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: ▼ -365.76%
• Current HPI: 287.4288
• Rent YoY: ▲ 4.25%
• 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

+355.0% since first listed

7 events — show timeline

• 2026-04-26 Pending — NWMLS as Distributed by MLS Grid
• 2026-04-26 Pending — RMLS
• 2026-04-03 Listed $91,000 RMLS
• 2026-04-03 Listed $91,000 NWMLS as Distributed by MLS Grid
• 2015-04-27 Sold (MLS) $20,000 RMLS
• 2015-04-14 Pending — RMLS
• 2015-04-12 Listed $20,000 RMLS

Property tax history

+10.3%/yr

Latest (2026): $439 · +46.2% YoY. Source: county tax records.