2240 Peace Portal Dr #5 · Blaine, WA 98230

$115,000

2 bd · 1.0 ba · 840 sqft · Manufactured public records · 156 Days on market

Built 1980 704 sqft lot

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Why this score? — see what drove the A- 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
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.7/10.0
• Livability +3.9/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0

Listing remarks

Cozy and move-in ready, this 2-bedroom, 1-bath home in the quiet Bell Air Trailer Park is full of thoughtful updates and charm. Fresh paint and new flooring throughout create a clean, inviting space, while new appliances, including refrigerator, stove, washer, and dryer, make daily life simple and stress-free. Enjoy added comfort with new underfloor insulation, and extra storage with your private shed. With low $600 monthly pad rent covering water, sewer, and garbage, this home is both affordable and convenient. Just minutes from downtown Blaine’s shops, restaurants, and waterfront, it’s the perfect spot to relax, enjoy the community, and truly feel at home.

Key facts

• New appliances
• Low monthly pad rent
• Private shed

Tags

• NEW APPLIANCES
• PRIVATE SHED
• UNDERFLOOR INSULATION
• LOW MONTHLY PAD RENT
• MINUTES FROM DOWNTOWN

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $115k.

Deal economics

• At list price, monthly cash flow is $710 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $115k).
• Recommended offer: $101k (12.0% below list) — sets the bar for market timing.
• Cap rate 13.7% vs local median 2.1% in Blaine — 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 78/100 on livability (#125 in WA, #2,491 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, health & safety A+, housing A; Watch: amenities F, cost of living F.
• Blaine School District (town): math 49% / reading 55% proficiency, ranked #120 of 291 in WA (top 41%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+3.1%/yr); 454 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 1,190 units permitted in Whatcom County in 2024 (327 in 5+ unit buildings).

Forward outlook

• In year one you build about $12k of equity ($795 loan paydown + $12k appreciation (10.0% local appreciation)).
• Whatcom County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 3.1% rent growth), your $32k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, 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 ($101k) is reasonable based on typical stale-listing flexibility.
• 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.

Recommended offer $101,200 (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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.66% ✓
• Cap rate: 13.70%
• Cash-on-cash: 26.46%
• DSCR: 2.18
• GRM: 5.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.1% rent growth · sell at horizon

5-year hold

• IRR: 44.3%
• Equity multiple: 4.36×
• Total profit: $108,081
• Equity at exit: $103,601

10-year hold

• IRR: 38.4%
• Equity multiple: 9.79×
• Total profit: $283,161
• Equity at exit: $223,420

Cash invested: $32,200 (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 98230

• Home prices YoY: 14.0%
• Rents YoY: 3.1%
• Active inventory: 454
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $1,905 medium
• Mortgage (P&I): −$603
• Tax est. 1.5%: −$144 /mo · $1,725/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$400
• Net cashflow: $710

Break-even live

Break-even rent $1,006

Max offer price $115,000

Occupancy floor 58%

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
756 F St Unit 3 Blaine, WA	2.0	1.0	800	$1,525	$1.91	43d	1	1.36mi
399 H St Unit 3D Blaine, WA	2.0	1.5	929	$1,895	$2.04	13d	1	1.37mi
399 H St #7 Blaine, WA	1.0	1.0	653	$1,595	$2.44	13d	1	1.37mi

Listing history 17 events

1. 2026-06-18
   days on market $115,000 Active 156 DOM
2. 2026-06-17
   days on market $115,000 Active 155 DOM
3. 2026-06-16
   days on market $115,000 Active 154 DOM
4. 2026-06-15
   days on market $115,000 Active 153 DOM
5. 2026-06-14
   days on market $115,000 Active 151 DOM
6. 2026-06-13
   days on market $115,000 Active 150 DOM
7. 2026-06-10
   days on market $115,000 Active 148 DOM
8. 2026-06-09
   days on market $115,000 Active 147 DOM
9. 2026-06-08
   days on market $115,000 Active 146 DOM
10. 2026-06-07
    days on market $115,000 Active 145 DOM
11. 2026-06-05
    days on market $115,000 Active 142 DOM
12. 2026-06-02
    days on market $115,000 Active 140 DOM
13. 2026-06-01
    days on market $115,000 Active 139 DOM
14. 2026-05-31
    days on market $115,000 Active 138 DOM
15. 2026-05-30
    days on market $115,000 Active 137 DOM
16. 2026-04-23
    status Active
17. 2026-01-12
    listed $115,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $22,859
• − Mortgage interest: −$6,442
• − Property taxes: −$1,725
• − Insurance: −$575
• − Repairs & maintenance: −$1,829
• − Management: −$1,829
• − Depreciation: −$3,345
• Taxable income: $7,114
• Est. tax owed @ 24.0%: −$1,707
• After-tax cash flow: $6,814/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: Blaine School District
• NCES district ID: 5300570
• Math proficiency: 49% ▼ -1.00%
• Reading proficiency: 55% ▼ -2.00%
• Median HH income: $57,085
• Composite: 47.05/100
• National rank: #5128
• State rank: #120 of 291 in WA

Livability — Blaine

• Score: 78/100
• State rank: #125
• US rank: #2491

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Blaine, WA
• County: Whatcom County · 209,776 people
• Metro: Bellingham, WA
• Population (ZIP): 18,744
• Household income: $86,623
• Rent vs Own: 20.4% rent · 79.6% own
• Severe rent burden: 454.0

Population outlook (Whatcom County) Hauer SSP2

• Today (2025): 240,408 people
• By 2030: 254,667 · +5.9%
• By 2040: 281,365 · +17.0%
• By 2050: 307,592 · +27.9%
• By 2075: 375,576 · +56.2%
• By 2100: 421,637 · +75.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (77%)
• Race & ethnicity: White 77% Two or more races 11% Hispanic / Latino 9% Asian 3% Pacific Islander 2% Black 1%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Portuguese 6% Iranian 4% Lithuanian 3%
• Foreign-born: 13% · Canada, China
• Languages at home: 89% English-only · Spanish 4% Russian/Polish/Slavic 1% Other Indo-European 1%

Political lean MEDSL · Whatcom

• 2024 margin: Strong D (+24.9) · D 60.8% · R 35.9% · Other 3.3%
• 2008→2024 swing: +6.9pp toward D · 2008: 18.0pp · 2024: 24.9pp
• All cycles: 2024: D+24.9 2020: D+23.9 2016: D+17.7 2012: D+12.1 2008: D+18.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 106.58%
• Current HPI: 868.68
• Rent YoY: ▲ 3.10%
• Metro: Bellingham, 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

2 events — show timeline

• 2026-04-23 Relisted — NWMLS as Distributed by MLS Grid
• 2026-01-12 Listed $115,000 NWMLS as Distributed by MLS Grid

Property tax history

+5.1%/yr

Latest (2026): $45 · +1.1% YoY. Source: county tax records.