206 E Rain St · Ocean Shores, WA 98569

$119,000

2 bd · 1.0 ba · 700 sqft · Manufactured public records · 7 Days on market

Built 1981 7,465 sqft lot Est $95k · 25% over $16/mo HOA · 1% of rent

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Why this score? — see what drove the C- 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 +26.4/30.0
• DSCR +9.0/10.0
• 1% rule +6.1/10.0
• Schools +3.4/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

$140,000 CASH 2 bed, 1 bath . 17 acres 14x50 mobile home on property, with a 8x14 treated deck. Brand new windows, doors, floors, electric, laundry, and more! Connected to Power, Water, Sewer. Backyard connects to trail and pond behind home. Mature Trees on property Part of Ocean Shores Community Club with swimming pool and more amenities! Parcel is selling AS IS. Buyer to do due diligence. No warranty, express or implied exists. Mobile Home Title in question

Key facts

• Brand-new windows
• Fully serviced lot
• Tranquil pond views

Tags

• FULLY SERVICED LOT
• UPDATED MANUFACTURED HOME
• BRAND-NEW WINDOWS
• SPACIOUS TREATED DECK
• TRANQUIL POND VIEWS
• CONNECTED TO CITY POWER

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $119k.

Deal economics

• At list price, monthly cash flow is $313 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $119k).
• Cap rate 9.4% vs local median 3.1% in Ocean Shores — 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 62/100 on livability (#424 in WA) — a middle-class / working-renter tenant base. Strengths: housing A; Watch: schools C-, crime C-, health & safety C-.
• North Beach School District (rural): math 32% / reading 44% proficiency, ranked #236 of 291 in WA (top 81%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 63% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 653 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 297 units permitted in Grays Harbor County in 2024 (17 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $823 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Grays Harbor County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $33k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 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 $35k; list at $119k implies a 240% gain — meaningful room to come down on a strong offer.

Recommended offer $119,000

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 1.10% ✓
• Cap rate: 9.44%
• Cash-on-cash: 11.25%
• DSCR: 1.50
• GRM: 7.5

CMA / ARV

• ARV (on-the-fly): $95,200
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
131 Victoria Loop NE	0.28mi	1/1.0 (-1)	716 (+2%)	10mo	$97,375	$136	70
108 Victoria Loop NE	0.32mi	2/1.0	784 (+12%)	13mo	$80,000	$102	54

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 0.5%
• Equity multiple: 1.02×
• Total profit: $581
• Equity at exit: $17,743

10-year hold

• IRR: 10.1%
• Equity multiple: 1.78×
• Total profit: $25,976
• Equity at exit: $10,289

Cash invested: $33,320 (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 98569

• Home prices YoY: -3.4%
• Active inventory: 653
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $1,315 medium
• Mortgage (P&I): −$624
• Tax from tax record: −$37 /mo · $440/yr
• Insurance: −$50
• HOA: −$16
• Vacancy / Maint / Mgmt: −$276
• Net cashflow: $313

Break-even live

Break-even rent $919

Max offer price $119,000

Occupancy floor 71%

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: $29,750
• Closing costs: $3,570
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
165 Barnacle St Unit 503 Ocean Shores, WA	1.0	1.0	725	$950	$1.31	44d	1	0.45mi
672 Ocean Shores Blvd NW Ocean Shores, WA	1.0	1.0	700	$1,150	$1.64	44d	1	0.70mi

HOA detail

• Monthly dues: $16 · $192/yr
• Likely covers: watersewerelectricpool

Listing history 16 events

1. 2026-06-17
   status $119,000 Pending 7 DOM
2. 2026-06-13
   status $119,000 Pending - Backup Offer Requested 7 DOM
3. 2026-06-12
   days on market $119,000 Active 7 DOM
4. 2026-06-09
   days on market $119,000 Active 4 DOM
5. 2026-06-08
   days on market $119,000 Active 3 DOM
6. 2026-06-07
   remarks 699-char remark
7. 2026-06-07
   pricedays on marketlisting id $119,000 Active 2 DOM
8. 2026-06-05
   days on market $140,000 Active 233 DOM
9. 2026-06-03
   days on market $140,000 Active 232 DOM
10. 2026-06-02
    days on market $140,000 Active 231 DOM
11. 2026-06-01
    days on market $140,000 Active 230 DOM
12. 2026-05-31
    days on market $140,000 Active 229 DOM
13. 2026-05-30
    days on market $140,000 Active 228 DOM
14. 2026-02-24
    listed $119,999 Active
15. 2025-10-10
    listed $140,000 Active 463-char remark

    Show marketing remark (463 chars)

    $140,000 CASH 2 bed, 1 bath . 17 acres 14x50 mobile home on property, with a 8x14 treated deck. Brand new windows, doors, floors, electric, laundry, and more! Connected to Power, Water, Sewer. Backyard connects to trail and pond behind home. Mature Trees on property Part of Ocean Shores Community Club with swimming pool and more amenities! Parcel is selling AS IS. Buyer to do due diligence. No warranty, express or implied exists. Mobile Home Title in question

16. 2000-03-22
    soldstatus $35,000

ⓘ 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: $440 · $37/mo
• Projected year-2 tax: $1,166 · $97/mo
• Expected delta: +$726/yr (+$61/mo · 165.0%)

ⓘ 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 1/10 Low
• 🌡 Heat 1/10 Low 6 d/yr ≥72°F today · 13 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 5/10 Major 6 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,779
• − Mortgage interest: −$6,666
• − Property taxes: −$440
• − Insurance: −$595
• − Repairs & maintenance: −$1,262
• − Management: −$1,262
• − HOA: −$192
• − Depreciation: −$3,462
• Taxable income: $1,900
• Est. tax owed @ 24.0%: −$456
• After-tax cash flow: $3,294/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: North Beach School District
• NCES district ID: 5305700
• Math proficiency: 32% ▼ -4.00%
• Reading proficiency: 44% ▬ 0.00%
• Median HH income: $40,966
• Composite: 34.46/100
• National rank: #10153
• State rank: #236 of 291 in WA

Livability — Ocean Shores

• Score: 62/100
• State rank: #424
• US rank: #16852

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ocean Shores, WA
• County: Grays Harbor County · 44,693 people
• City population: 7,187
• Metro: Aberdeen, WA
• Population (ZIP): 7,489
• Household income: $58,378
• Rent vs Own: 17.0% rent · 83.0% own
• Severe rent burden: 172.0

Population outlook (Grays Harbor County) Hauer SSP2

• Today (2025): 66,443 people
• By 2030: 63,255 · -4.8%
• By 2040: 56,466 · -15.0%
• By 2050: 50,516 · -24.0%
• By 2075: 39,296 · -40.9%
• By 2100: 31,142 · -53.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Two or more races 5% Hispanic / Latino 4% Asian 3% Native American 3%
• Common ancestry: Portuguese 8% Iranian 5% Lithuanian 4%
• Foreign-born: 5% · Canada
• Languages at home: 92% English-only · Spanish 3% Tagalog/Filipino 2% German/W. Germanic 2%

Political lean MEDSL · Grays Harbor

• 2024 margin: Lean R (+6.0) · D 45.6% · R 51.6% · Other 2.8%
• 2008→2024 swing: -20.6pp toward R · 2008: 14.6pp · 2024: -6.0pp
• All cycles: 2024: R+6.0 2020: R+6.6 2016: R+7.1 2012: D+14.0 2008: D+14.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -13.33%
• Current HPI: 380.05
• Rent YoY: —
• Metro: Aberdeen, 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

+242.9% since first listed

3 events — show timeline

• 2026-02-24 Listed $119,999 NWMLS as Distributed by MLS Grid
• 2025-10-10 Listed $140,000 Fizber.com
• 2000-03-22 Sold (Public Records) $35,000 Public Records

Property tax history

+0.4%/yr

Latest (2026): $440 · +16.6% YoY. Source: county tax records.