92 Evans St

Carson, WA 98610

$54,000B-

2 bd · 1.0 ba · 924 sqft · Built 1980 · Manufactured · Pending · 10 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,244/mo
• Mortgage (P&I): −$283
• Tax + insurance: −$90
• HOA: −$0
• Vac / Maint / Mgmt: −$261
• Net cashflow: $609/mo
• Annual: $7,311/yr
• Cap rate: 19.83%
• Cash-on-cash: 48.35%
• DSCR: 3.15
• 1% rule: 2.30%
• Cash to close: $15,120

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $54k.
• At list price, monthly cash flow is $609 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $54k).
• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $373 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 62/100 on livability (#402 in WA) — a middle-class / working-renter tenant base. Strengths: housing A+, crime A; Watch: employment C-, health & safety C-, amenities F.
• Stevenson-Carson School District (rural): math 32% / reading 51% proficiency, ranked #209 of 291 in WA (top 72%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Carson Elementary (193 students, 60% FRL); Stevenson High School (265 students, 51% FRL).
• Market conditions: 31 active listings in the ZIP; 34 units permitted in Skamania County in 2024 (0 in 5+ unit buildings).
• 2 sale attempts 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $15k cash investment doubles in ~3 years — after that, you're playing with house money.

Questions for listing agent

• 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.