700 NW Crosby Ave #19 · Oak Harbor, WA 98277

$122,500

3 bd · 2.0 ba · 1,404 sqft · Manufactured public records · 86 Days on market

Built 1987 Est $100k · 23% over

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.9/10.0
• Livability +3.9/5.0
• Rent growth +3.8/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Discover this beautifully updated manufactured home. This charming residence boasts brand-new exterior siding that enhances curb appeal, alongside fresh, modern flooring throughout the interior, the entire home has been freshly painted, giving it a bright and welcoming atmosphere. The kitchen has been fully updated with contemporary finishes, new appliances, and stylish cabinetry. The floor plan is ideal with the primary on one end and the other two on the opposite side. Backyard complete with play structure and ground covering. A nice size storage unit outside, covered front porch and little bonus room are great add-ons. Park rent is $1199 and includes water, sewer and garbage. All applian

Key facts

• Stylish cabinetry
• Modern flooring
• New appliances

Tags

• UPDATED MANUFACTURED HOME
• NEW EXTERIOR SIDING
• MODERN FLOORING
• FULLY UPDATED KITCHEN
• NEW APPLIANCES
• STYLISH CABINETRY

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $122k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $122k).
• Recommended offer: $115k (6.0% below list) — sets the bar for market timing.
• Cap rate 18.1% vs local median 2.7% in Oak Harbor — 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 77/100 on livability (#149 in WA, #3,120 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, health & safety A+, housing A; Watch: amenities D+, cost of living D+.
• Oak Harbor School District (town): math 49% / reading 61% proficiency, ranked #98 of 291 in WA (top 34%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Oak Harbor High School (1,566 students, 38% FRL).
• Market conditions: Rents rising fast (+5.4%/yr); 277 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 92% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 402 units permitted in Island County in 2024 (54 in 5+ unit buildings).
• This rent runs 35% of the median local income ($83k/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 $847 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Island County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 5.4% rent growth), your $34k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 86 days — a 6% lower offer ($115k) 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.
• Current owner paid $30k; list at $122k implies a 315% gain — meaningful room to come down on a strong offer.

Recommended offer $115,150 (6.0% below list)

Questions for the listing agent

1. It's been on market 86 days. Have you received any prior offers? Is the seller open to a 6% 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: 2.01% ✓
• Cap rate: 18.05%
• Cash-on-cash: 41.99%
• DSCR: 2.87
• GRM: 4.2

CMA / ARV

• ARV (on-the-fly): $99,684
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
700 NW Crosby Ave #19	0.00mi	3/2.0	1,404 (0%)	1mo	$100,000	$71	99
700 NW Crosby Ave #54	0.00mi	3/2.0	1,296 (-8%)	3mo	$22,000	$17	85
700 NW Crosby Ave #82	0.00mi	3/2.0	1,433 (+2%)	15mo	$80,000	$56	84
1320 Oak Harbor St #190	0.73mi	3/2.0	1,344 (-4%)	7mo	$40,000	$30	53
2920 Heller St Unit C	0.42mi	3/2.0	1,296 (-8%)	18mo	$107,000	$83	53
2920 SW Heller Rd #58	0.42mi	3/2.0	1,221 (-13%)	12mo	$130,000	$106	49
1320 N Oak Harbor St #178	0.73mi	3/2.0	1,202 (-14%)	15mo	$121,000	$101	30

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 · 5.36% rent growth · sell at horizon

5-year hold

• IRR: 41.2%
• Equity multiple: 2.82×
• Total profit: $62,543
• Equity at exit: $18,265

10-year hold

• IRR: 48.4%
• Equity multiple: 6.20×
• Total profit: $178,519
• Equity at exit: $10,592

Cash invested: $34,300 (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 98277

• Rents YoY: 5.4%
• Active inventory: 277
• Price-to-rent: 4.2×

Monthly cashflow live

• Estimated rent: $2,458 high
• Mortgage (P&I): −$642
• Tax from tax record: −$48 /mo · $580/yr
• Insurance: −$51
• HOA: −$0
• Vacancy / Maint / Mgmt: −$516
• Net cashflow: $1,200

Break-even live

Break-even rent $939

Max offer price $122,500

Occupancy floor 46%

Sensitivity live

Price	-10% $1,270	-5% $1,235	+0% $1,200	+5% $1,166	+10% $1,131
Rent	-10% $1,006	-5% $1,103	+0% $1,200	+5% $1,297	+10% $1,394
Rate	-1.0pp $1,262	-0.5pp $1,231	base $1,200	+0.5pp $1,169	+1.0pp $1,136

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: $30,625
• Closing costs: $3,675
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
790 NW Dory Dr Oak Harbor, WA	3.0	2.0	1344	$2,415	$1.80	44d	1	0.27mi
1205 NW Crosby Ave Oak Harbor, WA	3.0	2.5	1766	$2,600	$1.47	44d	1	0.29mi
1518 NW 9th Pl Oak Harbor, WA	3.0	2.0	1167	$2,415	$2.07	21d	1	0.43mi
120 NE 10th Ave Unit I2 [[?]180] Oak Harbor, WA	3.0	2.5	1784	$2,800	$1.57	44d	1	0.62mi
120 NE 10th Ave Unit I1 [[?]180] Oak Harbor, WA	3.0	2.5	1784	$2,900	$1.63	44d	1	0.62mi
1282 NW Lanyard Loop #2 Oak Harbor, WA	3.0	2.5	1330	$2,315	$1.74	44d	1	0.79mi
300 N Oak Harbor St Unit B102 Oak Harbor, WA	3.0	2.0	1284	$2,015	$1.57	44d	1	0.83mi
650 SW 4th Ave Oak Harbor, WA	3.0	2.0	1640	$2,415	$1.47	44d	1	1.00mi
395 S Oak Harbor St Unit 207 [[?]165] Oak Harbor, WA	2.0	1.5	1000	$2,030	$2.03	44d	1	1.13mi
563 NE Kettle St Unit A2 Oak Harbor, WA	3.0	2.5	1241	$2,415	$1.95	44d	1	1.22mi
33010 State Route 20 Unit B Oak Harbor, WA	2.0	1.0	1100	$2,440	$2.22	44d	1	1.25mi
141 SW 6th Ave Unit D101 Oak Harbor, WA	2.0	1.5	982	$1,915	$1.95	44d	1	1.30mi

Listing history 5 events

1. 2026-04-20
   status Pending
2. 2026-03-07
   status Active
3. 2026-03-03
   status Pending
4. 2026-01-21
   listed $122,500 Active
5. 1986-08-01
   soldstatus $29,500

ⓘ 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: $580 · $48/mo
• Projected year-2 tax: $1,200 · $100/mo
• Expected delta: +$620/yr (+$52/mo · 107.0%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥78°F today · 19 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 6/10 Major 7 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,500
• − Mortgage interest: −$6,862
• − Property taxes: −$580
• − Insurance: −$612
• − Repairs & maintenance: −$2,360
• − Management: −$2,360
• − Depreciation: −$3,564
• Taxable income: $13,162
• Est. tax owed @ 24.0%: −$3,159
• After-tax cash flow: $11,245/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: Oak Harbor School District
• NCES district ID: 5305940
• Math proficiency: 49% ▲ 1.00%
• Reading proficiency: 61% ▲ 1.00%
• Median HH income: $53,606
• Composite: 49.07/100
• National rank: #4427
• State rank: #98 of 291 in WA

Livability — Oak Harbor

• Score: 77/100
• State rank: #149
• US rank: #3120

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Oak Harbor, WA
• County: Island County · 71,196 people
• City population: 40,917
• Metro: Oak Harbor, WA
• Population (ZIP): 40,917
• Household income: $83,253
• Rent vs Own: 40.3% rent · 59.7% own
• Severe rent burden: 1359.0

Population outlook (Island County) Hauer SSP2

• Today (2025): 82,019 people
• By 2030: 81,329 · -0.8%
• By 2040: 78,552 · -4.2%
• By 2050: 77,042 · -6.1%
• By 2075: 80,799 · -1.5%
• By 2100: 84,451 · +3.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (66%)
• Race & ethnicity: White 66% Two or more races 14% Hispanic / Latino 12% Asian 8% Black 4%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Portuguese 4% Slovak 3% Iranian 3%
• Foreign-born: 9% · Canada, Vietnam
• Languages at home: 87% English-only · Spanish 5% Tagalog/Filipino 4% Other Asian/Pacific 1%

Political lean MEDSL · Island

• 2024 margin: D (+16.6) · D 56.8% · R 40.3% · Other 2.9%
• 2008→2024 swing: +10.3pp toward D · 2008: 6.2pp · 2024: 16.6pp
• All cycles: 2024: D+16.6 2020: D+12.0 2016: D+5.9 2012: D+4.4 2008: D+6.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -608.47%
• Current HPI: 188.2874
• Rent YoY: ▲ 5.36%
• Metro: Oak Harbor, 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

+315.3% since first listed

5 events — show timeline

• 2026-04-20 Pending — NWMLS as Distributed by MLS Grid
• 2026-03-07 Relisted — NWMLS as Distributed by MLS Grid
• 2026-03-03 Pending — NWMLS as Distributed by MLS Grid
• 2026-01-21 Listed $122,500 NWMLS as Distributed by MLS Grid
• 1986-08-01 Sold (Public Records) $29,500 Public Records

Property tax history

+4.2%/yr

Latest (2026): $580 · +2.9% YoY. Source: county tax records.