1047 Pine St · Grayland, WA 98547

$199,500

2 bd · 1.0 ba · 864 sqft · SingleFamily public records · 13 Days on market

Built 1950 0.32 ac lot

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Why this score? — see what drove the F 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 +8.3/30.0
• ARV discount +7.5/15.0
• Schools +3.9/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +2.3/10.0
• 1% rule +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks

Hear the ocean roar from this 3 bdrm home on a spacious and private lot near Warrenton Cannery beach approach in North Cove. Tranquil setting and bonus garage/shop makes this an ideal "starter vacation property". Bring your RV, set up camp and apply some elbow grease to make this property really shine.

Key facts

• Bonus garage
• Private lot
• Tranquil setting

Tags

• PRIVATE LOT
• BONUS GARAGE
• TRANQUIL SETTING

Property features AI

Finance

• Other: Zoning: RR
• Financial info: Listing terms: Cash or Conventional

Exterior

• Parking: Detached garage; Driveway parking; Off-street parking; Covered parking for 3 vehicles
• Utilities: Electric power; Individual well water; Septic tank sewer; Grays Harbor PUD power provider
• Home design: Single-family house; One story; Fair condition; Entry level: main floor living; Facing direction: not specified
• Construction: Built circa 1950 (effective year 1950); Metal/vinyl construction; Composition roof; Pillar/post/pier foundation
• Exterior features: Metal/vinyl exterior; Lot dimensions approximately 100 x 140; Lot size about 0.3214 acres; Built on lot

Interior

• Kitchen: Dishwasher; Stove/Range; Refrigerator
• Bedrooms: Three bedrooms (all on the main level)
• Bathrooms: One full bathroom (main level)
• Heating & cooling: High-efficiency heating (90%+); No cooling
• Interior features: Wood-burning fireplace; No basement
• Laundry & utility: Washer and dryer included

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $-181 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $168k (16.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $138k (30.6% below list).
• Recommended offer: $138k (30.6% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 56/100 on livability (#538 in WA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A; Watch: health & safety C-, crime D-, amenities F.
• Ocosta School District (rural): math 39% / reading 50% proficiency, ranked #196 of 291 in WA (top 67%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 60% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Ocosta Elementary School (325 students, 67% FRL); Ocosta Junior - Senior High (243 students, 62% FRL) — zoned schools at 64% FRL track the district average.
• Market conditions: 37 active listings in the ZIP; 90 units permitted in Pacific County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Pacific County population projected at -10% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 15y ago 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 $125k; list at $200k implies a 60% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $138,486 (30.6% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. Crime grade is D 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?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.69% ✗
• Cap rate: 5.20%
• Cash-on-cash: -3.89%
• DSCR: 0.83
• GRM: 12.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -22.9%
• Equity multiple: 0.21×
• Total profit: $-43,901
• Equity at exit: $29,746

10-year hold

• IRR: -17.4%
• Equity multiple: 0.05×
• Total profit: $-53,250
• Equity at exit: $17,249

Cash invested: $55,860 (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 98547

• Home prices YoY: -17.3%
• Active inventory: 37
• Price-to-rent: 12.0×

Monthly cashflow live

• Estimated rent: $1,385 medium
• Mortgage (P&I): −$1,046
• Tax from tax record: −$146 /mo · $1,749/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$291
• Net cashflow: $-181

Break-even live

Break-even rent $1,614

Max offer price $167,517

Occupancy floor —

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: $49,875
• Closing costs: $5,985
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-06-19
   days on market $199,500 Active 13 DOM
2. 2026-06-18
   days on market $199,500 Active 12 DOM
3. 2026-06-17
   days on market $199,500 Active 11 DOM
4. 2026-06-16
   days on market $199,500 Active 10 DOM
5. 2026-06-15
   days on market $199,500 Active 9 DOM
6. 2026-06-14
   days on market $199,500 Active 7 DOM
7. 2026-06-12
   days on market $199,500 Active 6 DOM
8. 2026-06-09
   days on market $199,500 Active 3 DOM
9. 2026-06-08
   days on market $199,500 Active 2 DOM
10. 2026-06-07
    remarks 304-char remark
11. 2026-06-07
    listed $199,500 Active 1 DOM

ⓘ 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: $1,749 · $146/mo
• Projected year-2 tax: $1,955 · $163/mo
• Expected delta: +$206/yr (+$17/mo · 11.8%)

ⓘ 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 1/10 Low 7 d/yr ≥75°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 5/10 Major 6 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,618
• − Mortgage interest: −$11,175
• − Property taxes: −$1,749
• − Insurance: −$998
• − Repairs & maintenance: −$1,329
• − Management: −$1,329
• − Depreciation: −$5,804
• Taxable loss: −$5,766
• Est. tax savings @ 24.0%: +$1,384
• After-tax cash flow: $-789/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: Ocosta School District
• NCES district ID: 5306090
• Math proficiency: 39% ▲ 1.00%
• Reading proficiency: 50% ▼ -1.00%
• Median HH income: $36,877
• Composite: 39.19/100
• National rank: #8222
• State rank: #196 of 291 in WA

Livability — Grayland

• Score: 56/100
• State rank: #538
• US rank: #22695

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 1,206

Population outlook (Pacific County) Hauer SSP2

• Today (2025): 20,636 people
• By 2030: 20,137 · -2.4%
• By 2040: 19,041 · -7.7%
• By 2050: 18,504 · -10.3%
• By 2075: 17,403 · -15.7%
• By 2100: 16,241 · -21.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Two or more races 7% Hispanic / Latino 5% Black 1%
• Common ancestry: Portuguese 9% Iranian 5% Romanian 5%
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Pacific

• 2024 margin: Toss-up / Even · D 48.1% · R 49.4% · Other 2.4%
• 2008→2024 swing: -15.4pp toward R · 2008: 14.1pp · 2024: -1.3pp
• All cycles: 2024: R+1.3 2020: R+1.1 2016: R+6.9 2012: D+11.4 2008: D+14.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -48.99%
• Current HPI: 234.6274
• Rent YoY: —
• Metro: —
• 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

+43.5% since first listed

6 events — show timeline

• 2026-06-06 Listed $199,500 NWMLS as Distributed by MLS Grid
• 2011-09-15 Sold (Public Records) $125,100 Public Records
• 2011-09-15 Sold (MLS) $125,000 NWMLS as Distributed by MLS Grid
• 2011-08-04 Pending — NWMLS as Distributed by MLS Grid
• 2011-07-26 Price Changed $125,000 NWMLS as Distributed by MLS Grid
• 2011-05-20 Listed $139,000 NWMLS as Distributed by MLS Grid

Property tax history

+3.5%/yr

Latest (2026): $1,749 · +15.7% YoY. Source: county tax records.