25101 NE Humphrey St

Yacolt, WA 98675

$221,100C-

3 bd · 2.0 ba · 1,326 sqft · Built 1995 · Manufactured · Active · 44 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,850/mo
• Mortgage (P&I): −$1,159
• Tax + insurance: −$229
• HOA: −$0
• Vac / Maint / Mgmt: −$388
• Net cashflow: $73/mo
• Annual: $870/yr
• Cap rate: 6.69%
• Cash-on-cash: 1.41%
• DSCR: 1.06
• 1% rule: 0.84%
• Cash to close: $61,908

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $221k.
• At list price, monthly cash flow is $73 ($870/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 $185k (16.3% below list).
• It's been on market 44 days — a 3% lower offer ($214k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $185k (16.3% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Location reads 75/100 on livability (#161 in WA, #3,866 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, health & safety A+; Watch: cost of living C-, amenities F, commute 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.
• Market conditions: 53 active listings in the ZIP; 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.
• Cap rate 6.7% vs local median 2.4% in Yacolt — 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 16% 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.
• 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.