30 Marsden Rd

Port Angeles East, WA 98362

$229,500C

2 bd · 1.0 ba · 1,100 sqft · Built 1969 · Manufactured · Active · 56 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,000/mo
• Mortgage (P&I): −$1,204
• Tax + insurance: −$206
• HOA: −$0
• Vac / Maint / Mgmt: −$420
• Net cashflow: $171/mo
• Annual: $2,048/yr
• Cap rate: 7.19%
• Cash-on-cash: 3.19%
• DSCR: 1.14
• 1% rule: 0.87%
• Cash to close: $64,260

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $230k.
• At list price, monthly cash flow is $171 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $200k (12.9% below list).
• It's been on market 56 days — a 3% lower offer ($223k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $200k (12.9% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Location reads 75/100 on livability (#162 in WA, #3,899 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, cost of living A-; Watch: employment D+, health & safety D, amenities F.
• Port Angeles School District (town): math 55% / reading 65% proficiency, ranked #70 of 291 in WA (top 24%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Port Angeles High School (989 students, 57% FRL).
• Market conditions: 273 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 166 units permitted in Clallam County in 2024 (0 in 5+ unit buildings).
• Clallam County population projected at +5% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 2 sale attempts; this cycle's ask has dropped $20k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Cap rate 7.2% vs local median 1.4% in Port Angeles East — 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.

Questions for listing agent

• It's been on market 56 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
• Built in 1969 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are F-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.