1111 Archwood Dr SW #361 · Olympia, WA 98502

$39,950

2 bd · 1.0 ba · 896 sqft · Manufactured public records · 156 Days on market

Built 1977 $45/sqft · 47% below area Est $75k · 47% under ↓ 7% since listing

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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 +15.0/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• Schools +6.2/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +4.2/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0

Listing remarks

Rare opportunity for a home with multiple entrances and a bonus room--possible home business? Visit now and dream of what you could do in this beautiful, well-maintained park. Lightly remodeled AND still affordable! Two bedrooms and a bonus room with a partially remodeled kitchen and a remodeled full bathroom make this cute little home move-in ready! Bonus room off the back has its own deck and separate entrance--so many possibilities! Extra square footage that single wides don't often have! This 55 and older park is clean, friendly, and has many amenities. New carpet and LVP throughout and a new minisplit heat system--AIR CONDITIONING! Come visit--this pretty home is waiting for you!

Key facts

• Bonus room
• Multiple entrances
• Parking

Tags

• MULTIPLE ENTRANCES
• BONUS ROOM
• PARTIALLY REMODELED KITCHEN
• REMODELED FULL BATHROOM
• DECK AND SEPARATE ENTRANCE
• NEW MINISPLIT HEAT SYSTEM

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $40k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $40k).
• Recommended offer: $35k (12.0% below list) — sets the bar for market timing.
• Cap rate 43.9% vs local median 2.4% in Olympia — 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 83/100 on livability (#58 in WA, #1,036 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, health & safety A+; Watch: crime F, cost of living D-.
• Olympia School District (urban): math 66% / reading 75% proficiency, ranked #17 of 291 in WA (top 6%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: Rents rising (+3.2%/yr); 304 active listings in the ZIP; 26 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; 1,222 units permitted in Thurston County in 2024 (508 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($276 loan paydown + $4k appreciation (10.0% local appreciation)).
• Thurston County population projected at +27% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 3.2% rent growth), your $11k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 156 days — a 12% lower offer ($35k) is reasonable based on typical stale-listing flexibility.

Recommended offer $35,156 (12.0% below list)

Questions for the listing agent

1. It's been on market 156 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are A-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?
6. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. 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.
8. 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.
9. 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: 4.78% ✓
• Cap rate: 43.95%
• Cash-on-cash: 134.47%
• DSCR: 6.98
• GRM: 1.7

CMA / ARV

• ARV (median comp): $74,950
• List price: $39,950
• Delta: -46.70%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1111 Archwood Dr SW #382	0.07mi	2/2.0	960 (+7%)	2mo	$74,950	$78	79
1111 Archwood Dr SW #409	0.10mi	2/2.0	960 (+7%)	15mo	$143,500	$149	67

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.16% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 10.11×
• Total profit: $101,919
• Equity at exit: $35,990

10-year hold

• IRR: —
• Equity multiple: 22.28×
• Total profit: $238,015
• Equity at exit: $77,614

Cash invested: $11,186 (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 98502

• Home prices YoY: 1.8%
• Rents YoY: 3.2%
• Active inventory: 304
• Price-to-rent: 1.7×

Monthly cashflow live

• Estimated rent: $1,911 high
• Mortgage (P&I): −$210
• Tax from tax record: −$30 /mo · $360/yr
• Insurance: −$17
• HOA: −$0
• Vacancy / Maint / Mgmt: −$401
• Net cashflow: $1,254

Break-even live

Break-even rent $324

Max offer price $39,950

Occupancy floor 29%

Sensitivity live

Price	-10% $1,276	-5% $1,265	+0% $1,254	+5% $1,242	+10% $1,231
Rent	-10% $1,103	-5% $1,178	+0% $1,254	+5% $1,329	+10% $1,404
Rate	-1.0pp $1,274	-0.5pp $1,264	base $1,254	+0.5pp $1,243	+1.0pp $1,233

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: $9,988
• Closing costs: $1,198
• Reserves months: —
• Total cash needed: —

Rent comps 26 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3311 6th Ave SW Olympia, WA	1.0–3.0	1.0–2.0	888	$2,082	$2.35	14d	16	0.24mi
800 Yauger Way SW Olympia, WA	1.0–2.0	1.0–2.0	1034	$2,131	$2.06	14d	13	0.36mi
1309 Fern St SW Olympia, WA	1.0–3.0	1.0–2.0	802	$1,906	$2.37	14d	2	0.56mi
1900 Black Lake Blvd SW Olympia, WA	1.0–3.0	1.0–2.0	925	$1,823	$1.97	14d	13	0.62mi
1220 Fern St SW Olympia, WA	2.0	2.0	900	$1,850	$2.06	44d	2	0.65mi
1000 Fern St SW Olympia, WA	1.0–2.0	1.0–2.0	892	$2,281	$2.56	14d	8	0.70mi
2010 8th Ct SW Olympia, WA	2.0	2.0	1072	$2,295	$2.14	21d	1	0.76mi
2800 Limited Ln NW Olympia, WA	1.0–2.0	1.0–2.0	775	$1,503	$1.94	14d	4	0.77mi
600 Black Lake Blvd SW Olympia, WA	1.0–2.0	1.0	851	$1,600	$1.88	14d	23	0.83mi
300 Kenyon St NW Olympia, WA	1.0–2.0	1.0–2.0	878	$1,995	$2.27	14d	6	0.83mi
121 Decatur St NW Olympia, WA	2.0	1.0	1000	$1,695	$1.70	21d	1	1.03mi
125 Decatur St NW Olympia, WA	2.0	1.0	980	$1,900	$1.94	21d	1	1.04mi
1221 Evergreen Park Dr SW Olympia, WA	2.0	1.0	880	$1,749	$1.99	14d	2	1.23mi
1626 Madison Ave NW Olympia, WA	2.0	2.0	1064	$2,100	$1.97	14d	1	1.26mi
1415 Evergreen Park Dr SW Olympia, WA	2.0	2.0	1050	$1,735	$1.65	14d	1	1.27mi
1818 Evergreen Park Dr SW Olympia, WA	1.0	1.0	437	$1,500	$3.43	14d	4	1.31mi
1919 Evergreen Park Dr SW Olympia, WA	1.0	1.0	695	$1,450	$2.09	21d	1	1.33mi
5004 4th Way SW Olympia, WA	2.0–3.0	2.0–2.5	1271	$1,845	$1.45	14d	5	1.35mi
3120 14th Ave NW Unit 3118-B Olympia, WA	2.0	1.0	826	$1,600	$1.94	44d	1	1.35mi
3120 14th Ave NW Unit 3108-A Olympia, WA	2.0	1.0	753	$1,550	$2.06	44d	1	1.35mi
2008 Evergreen Park Dr SW Olympia, WA	1.0–2.0	1.0	750	$1,799	$2.40	44d	3	1.42mi
2121 Evergreen Park Dr SW Unit 48 Olympia, WA	2.0	1.0	850	$1,525	$1.79	45d	1	1.42mi
2820 Tuscany Ln SW Tumwater, WA	1.0–2.0	1.0–2.0	915	$1,775	$1.94	14d	8	1.43mi
2820 Tuscany Ln SW Unit 411 Tumwater, WA	2.0	1.0	915	$1,635	$1.79	44d	1	1.43mi
2820 Tuscany Ln SW Unit 714 Tumwater, WA	2.0	2.0	1030	$1,725	$1.67	21d	1	1.43mi
1221 Mottman Rd SW Olympia, WA	1.0–3.0	1.0–2.0	1011	$1,948	$1.93	21d	4	1.46mi

Listing history 17 events

1. 2026-06-18
   days on market $39,950 Active 156 DOM
2. 2026-06-17
   days on market $39,950 Active 155 DOM
3. 2026-06-16
   days on market $39,950 Active 154 DOM
4. 2026-06-15
   days on market $39,950 Active 153 DOM
5. 2026-06-14
   days on market $39,950 Active 151 DOM
6. 2026-06-13
   days on market $39,950 Active 150 DOM
7. 2026-06-10
   days on market $39,950 Active 148 DOM
8. 2026-06-09
   days on market $39,950 Active 147 DOM
9. 2026-06-08
   days on market $39,950 Active 146 DOM
10. 2026-06-07
    days on market $39,950 Active 145 DOM
11. 2026-06-05
    days on market $39,950 Active 142 DOM
12. 2026-06-02
    days on market $39,950 Active 140 DOM
13. 2026-06-01
    days on market $39,950 Active 139 DOM
14. 2026-05-31
    days on market $39,950 Active 138 DOM
15. 2026-05-30
    days on market $39,950 Active 137 DOM
16. 2026-02-16
    price $39,950
17. 2026-01-13
    listed $43,000 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: $360 · $30/mo
• Projected year-2 tax: $392 · $33/mo
• Expected delta: +$31/yr (+$3/mo · 8.6%)

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

Taxation est. · year 1

• Rental income: $22,932
• − Mortgage interest: −$2,238
• − Property taxes: −$360
• − Insurance: −$200
• − Repairs & maintenance: −$1,835
• − Management: −$1,835
• − Depreciation: −$1,162
• Taxable income: $15,303
• Est. tax owed @ 24.0%: −$3,673
• After-tax cash flow: $11,369/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: Olympia School District
• NCES district ID: 5306180
• Math proficiency: 66% ▼ -2.00%
• Reading proficiency: 75% ▼ -2.00%
• Median HH income: $63,852
• Composite: 62.27/100
• National rank: #1438
• State rank: #17 of 291 in WA

Livability — Olympia

• Score: 83/100
• State rank: #58
• US rank: #1036

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Olympia, WA
• County: Thurston County · 269,345 people
• City population: 98,428
• Metro: Olympia-Lacey-Tumwater, WA
• Population (ZIP): 35,398
• Household income: $92,207
• Rent vs Own: 42.6% rent · 57.4% own
• Severe rent burden: 1811.0

Population outlook (Thurston County) Hauer SSP2

• Today (2025): 308,239 people
• By 2030: 326,483 · +5.9%
• By 2040: 359,890 · +16.8%
• By 2050: 391,800 · +27.1%
• By 2075: 468,024 · +51.8%
• By 2100: 519,890 · +68.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (71%)
• Race & ethnicity: White 71% Two or more races 13% Hispanic / Latino 11% Asian 6% Black 3% Native American 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 4%
• Common ancestry: Italian 5% Portuguese 4% Iranian 3%
• Foreign-born: 8% · Vietnam, Canada, China
• Languages at home: 90% English-only · Spanish 3% Vietnamese 2% Other Asian/Pacific 1%

Political lean MEDSL · Thurston

• 2024 margin: Strong D (+20.4) · D 58.5% · R 38.1% · Other 3.5%
• 2008→2024 swing: -1.3pp toward R · 2008: 21.7pp · 2024: 20.4pp
• All cycles: 2024: D+20.4 2020: D+18.6 2016: D+15.4 2012: D+19.0 2008: D+21.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 18.49%
• Current HPI: 1056.49
• Rent YoY: ▲ 3.16%
• Metro: Olympia-Lacey-Tumwater, 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

-7.1% since first listed

2 events — show timeline

• 2026-02-16 Price Changed $39,950 NWMLS as Distributed by MLS Grid
• 2026-01-13 Listed $43,000 NWMLS as Distributed by MLS Grid

Property tax history

+3.7%/yr

Latest (2026): $360 · +12.6% YoY. Source: county tax records.