3777 Addy St #65 · Washougal, WA 98671

$199,000

3 bd · 2.0 ba · 1,848 sqft · Manufactured public records · 23 Days on market

Built 1995 Est $150k · 33% over

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Why this score? — see what drove the C+ 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
• DSCR +10.0/10.0
• 1% rule +9.0/10.0
• Schools +5.3/10.0
• Livability +4.2/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Spacious 4 Bedroom, 2 Bath home with a one car garage room to park two vehicles in the driveway. Engineered Hardwood Flooring. Spacious Kitchen with lots of counter space. Heat Pump. Entryway Ramp to the Front Door. Main Bath has a soaking tub and Dual Sinks. Covered Back Patio. Great Commuter Location!

Key facts

• Covered back patio
• Entryway ramp
• Garage

Tags

• ENGINEERED HARDWOOD FLOORING
• ENTRYWAY RAMP
• COVERED BACK PATIO
• GREAT COMMUTER LOCATION

Property features AI

Finance

• Other: Main level living area approximately 1,848; Parcel number 610879000
• HOA & community: Located in North Shore Estates (park-community); Lot rent $1,041 monthly; Some utilities billed every other month

Exterior

• Parking: Attached 1-car garage; Total parking for 1 vehicle
• Utilities: Electric fuel; Public water; Public sewer
• Home design: Manufactured home in park (residential); Single-story (main living area on one level); No notable view
• Construction: Built in 1995; Composition roof; Wood siding exterior; Foundation information not provided
• Exterior features: Covered patio; Wood siding; Level lot; Paved road access

Interior

• Kitchen: Dishwasher; Disposal; Free-standing range; Free-standing refrigerator; Electric hot water
• Bedrooms: Primary bedroom on main level; 2nd bedroom on main level; 3rd bedroom on main level
• Bathrooms: 2 full bathrooms (both on main level)
• Heating & cooling: Forced air heating; Heat pump cooling
• Interior features: Dining room; Family room; Living room; Great room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $199k.

Deal economics

• At list price, monthly cash flow is $990 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $199k).
• Recommended offer: $196k (1.5% below list) — sets the bar for market timing.
• Cap rate 12.3% vs local median 1.7% in Washougal — 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 (#42 in WA, #742 nationally) — a professional / high-income tenant draw. Strengths: employment A+, housing A+, health & safety A+; Watch: amenities D+, cost of living F.
• Washougal School District (suburban): math 53% / reading 64% proficiency, ranked #59 of 291 in WA (top 20%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Columbia River Gorge Elementary School (339 students, 43% FRL); Jemtegaard Middle School (439 students, 48% FRL); Washougal High School (1,006 students, 38% FRL).
• Market conditions: Rents rising (+3.7%/yr); 275 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 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 runs 30% of the median local income ($112k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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 + 3.7% rent growth), your $56k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($196k) is reasonable based on typical stale-listing flexibility.

Recommended offer $196,015 (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. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
3. 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.
4. 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.
5. 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: 1.40% ✓
• Cap rate: 12.27%
• Cash-on-cash: 21.33%
• DSCR: 1.95
• GRM: 5.9

CMA / ARV

• ARV (on-the-fly): $149,688
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4501 Addy St #17	0.58mi	3/3.0	1,720 (-7%)	21mo	$140,054	$81	40

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 · 3.7% rent growth · sell at horizon

5-year hold

• IRR: 14.6%
• Equity multiple: 1.59×
• Total profit: $32,760
• Equity at exit: $29,672

10-year hold

• IRR: 23.8%
• Equity multiple: 3.11×
• Total profit: $117,765
• Equity at exit: $17,206

Cash invested: $55,720 (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 98671

• Rents YoY: 3.7%
• Active inventory: 275
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $2,791 medium
• Mortgage (P&I): −$1,044
• Tax from tax record: −$88 /mo · $1,055/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$586
• Net cashflow: $990

Break-even live

Break-even rent $1,537

Max offer price $199,000

Occupancy floor 60%

Sensitivity live

Price	-10% $1,103	-5% $1,047	+0% $990	+5% $934	+10% $878
Rent	-10% $770	-5% $880	+0% $990	+5% $1,101	+10% $1,211
Rate	-1.0pp $1,091	-0.5pp $1,041	base $990	+0.5pp $939	+1.0pp $886

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4694 Rolling Meadows Dr Washougal, WA	3.0	2.0	1358	$2,900	$2.14	15d	1	0.90mi
2085 34th St Washougal, WA	3.0	3.5	2316	$2,995	$1.29	2d	1	1.10mi
5447 N St Washougal, WA	3.0	2.0	1872	$2,795	$1.49	44d	1	1.14mi

Listing history 14 events

1. 2026-06-18
   days on market $199,000 Active 23 DOM
2. 2026-06-17
   pricedays on market $199,000 Active 22 DOM
3. 2026-06-16
   days on market $239,999 Active 21 DOM
4. 2026-06-15
   days on market $239,999 Active 20 DOM
5. 2026-06-13
   days on market $239,999 Active 18 DOM
6. 2026-06-09
   days on market $239,999 Active 14 DOM
7. 2026-06-08
   days on market $239,999 Active 13 DOM
8. 2026-06-07
   days on market $239,999 Active 12 DOM
9. 2026-06-05
   days on market $239,999 Active 9 DOM
10. 2026-06-03
    days on market $239,999 Active 8 DOM
11. 2026-06-02
    days on market $239,999 Active 7 DOM
12. 2026-06-01
    days on market $239,999 Active 6 DOM
13. 2026-05-31
    days on market $239,999 Active 5 DOM
14. 2026-05-26
    listed $239,999 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: $1,055 · $88/mo
• Projected year-2 tax: $1,950 · $163/mo
• Expected delta: +$896/yr (+$75/mo · 84.9%)

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

Taxation est. · year 1

• Rental income: $33,492
• − Mortgage interest: −$11,147
• − Property taxes: −$1,055
• − Insurance: −$995
• − Repairs & maintenance: −$2,679
• − Management: −$2,679
• − Depreciation: −$5,789
• Taxable income: $9,147
• Est. tax owed @ 24.0%: −$2,195
• After-tax cash flow: $9,690/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: Washougal School District
• NCES district ID: 5309540
• Math proficiency: 53% ▼ -2.00%
• Reading proficiency: 64% ▼ -2.00%
• Median HH income: $68,134
• Composite: 53.22/100
• National rank: #3195
• State rank: #59 of 291 in WA

Livability — Washougal

• Score: 84/100
• State rank: #42
• US rank: #742

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Washougal, WA
• County: Clark County · 513,189 people
• City population: 24,871
• Metro: Portland-Vancouver-Hillsboro, OR-WA
• Population (ZIP): 24,871
• Household income: $111,545
• Rent vs Own: 23.5% rent · 76.5% own
• Severe rent burden: 382.0

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 (82%)
• Race & ethnicity: White 82% Hispanic / Latino 10% Two or more races 9% Asian 2%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Portuguese 5% Italian 3% Lithuanian 3%
• Foreign-born: 4% · Canada, China
• Languages at home: 91% English-only · Spanish 6% Chinese 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: ▼ -418.85%
• Current HPI: 315.8635
• Rent YoY: ▲ 3.70%
• 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

• 2026-05-26 Listed $239,999 RMLS

Property tax history

+2.8%/yr

Latest (2026): $1,055 · +157.2% YoY. Source: county tax records.