494 Inlet Ave NW · Ocean Shores, WA 98569

$260,000

3 bd · 2.0 ba · 1,328 sqft · SingleFamily public records · 35 Days on market

Built 1975 7,700 sqft lot $196/sqft · 30% below area Est $369k · 30% under

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Why this score? — see what drove the D 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).

• ARV discount +15.0/15.0
• Cash flow +11.2/30.0
• Schools +3.4/10.0
• DSCR +3.3/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks

Step into 494 Inlet Ave NW, a property enhanced by recent updates including fresh interior paint and a partial flooring replacement, creating a refreshed atmosphere. The functional exterior space includes a storage shed for added utility, complemented by a fully fenced in backyard that defines the outdoor area. This blend provides a comfortable and practical environment. Freshly updated and perfectly equipped for comfortable living.

Key facts

• Storage shed
• 7,700 sq ft lot
• Built 1975

Tags

• STORAGE SHED
• FULLY FENCED BACKYARD

Property features AI

Finance

• Financial info: Accepts Conventional, FHA, and VA financing

Exterior

• Parking: Driveway
• Utilities: Electric service; Public water; Sewer connected
• Home design: Single-family residence; Detached house; One story
• Construction: Wood construction; Composition roof; Torch down roof
• Exterior features: Wood exterior

Interior

• Bedrooms: 3 bedrooms (all on the main level)
• Bathrooms: 2 full bathrooms; 2 bathtubs
• Heating & cooling: Baseboard heating; No air conditioning
• Interior features: Baseboard heating; No cooling

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $260k.

Deal economics

• At list price, monthly cash flow is $-102 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $242k (6.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $189k (27.5% below list).
• Recommended offer: $189k (27.5% below list) — sets the bar for 1% rule.
• Cap rate 5.8% 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: crime C-, health & safety C-, amenities F.
• 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.
• Zoned schools: Ocean Shores Elementary (240 students, 76% FRL); North Beach Junior High School (162 students, 78% FRL); North Beach Senior High School (177 students, 63% FRL).
• Market conditions: 653 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 297 units permitted in Grays Harbor County in 2024 (17 in 5+ unit buildings).
• This rent runs 39% of the median local income ($58k/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 $2k of loan paydown is wiped out by about $8k 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.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($252k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 22y ago; this cycle's ask has dropped $20k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $188,534 (27.5% 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. It's been on market 35 days. Have you received any prior offers? Is the seller open to a 27% concession, seller financing, or rate buy-down credit?
3. Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 0.73% ✗
• Cap rate: 5.82%
• Cash-on-cash: -1.68%
• DSCR: 0.93
• GRM: 11.5

CMA / ARV

• ARV (median comp): $368,971
• List price: $260,000
• Delta: -29.53%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
554 Ocean Shores Blvd NW	0.15mi	2/2.0 (-1)	1,266 (-5%)	1mo	$370,800	$293	79
506 Point Brown Ave NE	0.24mi	3/2.0	1,423 (+7%)	5mo	$335,000	$235	73
492 Ensign Ave NW	0.19mi	2/2.0 (-1)	1,496 (+13%)	3mo	$350,000	$234	63
546 canal Dr NE	0.38mi	2/2.0 (-1)	1,248 (-6%)	8mo	$320,000	$256	61
198 Clover St NW	0.55mi	2/2.0 (-1)	1,352 (+2%)	7mo	$330,000	$244	60
262 Octopus Ave NE	0.69mi	2/2.0 (-1)	1,335 (+0%)	4mo	$429,000	$321	59
618 Woodland Loop NE	0.66mi	3/2.0	1,400 (+5%)	4mo	$310,000	$221	56
490 Dolphin Ave NE	0.52mi	3/1.5	1,456 (+10%)	4mo	$439,000	$302	54
611 Weatherwax Loop NE	0.68mi	2/2.0 (-1)	1,159 (-13%)	1mo	$379,900	$328	42
304 Ocean Shores Blvd NW	0.54mi	2/2.0 (-1)	1,134 (-15%)	6mo	$350,000	$309	40
213 Canal Dr NE	0.68mi	2/1.0 (-1)	1,474 (+11%)	3mo	$376,500	$255	38
445 Bass Ave NE	0.61mi	2/2.0 (-1)	1,525 (+15%)	7mo	$367,500	$241	36

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: -19.1%
• Equity multiple: 0.33×
• Total profit: $-48,728
• Equity at exit: $38,767

10-year hold

• IRR: -11.8%
• Equity multiple: 0.30×
• Total profit: $-51,196
• Equity at exit: $22,480

Cash invested: $72,800 (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: 11.5×

Monthly cashflow live

• Estimated rent: $1,885 medium
• Mortgage (P&I): −$1,363
• Tax from tax record: −$120 /mo · $1,436/yr
• Insurance: −$108
• HOA: −$0
• Vacancy / Maint / Mgmt: −$396
• Net cashflow: $-102

Break-even live

Break-even rent $2,014

Max offer price $241,975

Occupancy floor —

Sensitivity live

Price	-10% $45	-5% $-28	+0% $-102	+5% $-176	+10% $-249
Rent	-10% $-251	-5% $-177	+0% $-102	+5% $-28	+10% $47
Rate	-1.0pp $29	-0.5pp $-36	base $-102	+0.5pp $-169	+1.0pp $-238

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: $65,000
• Closing costs: $7,800
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
569 Sunset Ave NE Unit A Ocean Shores, WA	2.0	1.5	1001	$1,500	$1.50	45d	1	0.55mi

Listing history 26 events

1. 2026-06-19
   days on market $260,000 Active 35 DOM
2. 2026-06-18
   days on market $260,000 Active 34 DOM
3. 2026-06-17
   days on market $260,000 Active 33 DOM
4. 2026-06-16
   days on market $260,000 Active 32 DOM
5. 2026-06-15
   days on market $260,000 Active 31 DOM
6. 2026-06-14
   days on market $260,000 Active 29 DOM
7. 2026-06-12
   pricedays on market $260,000 Active 28 DOM
8. 2026-06-09
   days on market $277,000 Active 25 DOM
9. 2026-06-08
   days on market $277,000 Active 24 DOM
10. 2026-06-07
    days on market $277,000 Active 23 DOM
11. 2026-06-05
    days on market $277,000 Active 20 DOM
12. 2026-06-03
    days on market $277,000 Active 19 DOM
13. 2026-06-02
    days on market $277,000 Active 18 DOM
14. 2026-06-01
    days on market $277,000 Active 17 DOM
15. 2026-05-31
    days on market $277,000 Active 16 DOM
16. 2026-05-30
    days on market $277,000 Active 15 DOM
17. 2026-05-15
    listed $280,000 Active
18. 2016-09-08
    soldstatus $129,500 Sold
19. 2016-09-08
    soldstatus $129,500
20. 2016-08-24
    status Pending
21. 2016-08-06
    status Pending Inspection
22. 2016-03-29
    listed $129,500 Active
23. 2005-01-31
    soldstatus $78,800
24. 2005-01-31
    soldstatus $78,800
25. 2004-12-13
    listed $75,000
26. 2000-09-21
    soldstatus $64,000

ⓘ 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: $1,436 · $120/mo
• Projected year-2 tax: $2,548 · $212/mo
• Expected delta: +$1,112/yr (+$93/mo · 77.5%)

ⓘ 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 7 d/yr ≥72°F today · 17 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: $22,624
• − Mortgage interest: −$14,564
• − Property taxes: −$1,436
• − Insurance: −$1,300
• − Repairs & maintenance: −$1,810
• − Management: −$1,810
• − Depreciation: −$7,564
• Taxable loss: −$5,859
• Est. tax savings @ 24.0%: +$1,406
• After-tax cash flow: $182/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

+306.2% since first listed

13 events — show timeline

• 2026-06-11 Price Changed $260,000 NWMLS as Distributed by MLS Grid
• 2026-05-29 Price Changed $277,000 NWMLS as Distributed by MLS Grid
• 2026-05-15 Listed $280,000 NWMLS as Distributed by MLS Grid
• 2026-04-07 Sold (Public Records) $280,370 Public Records
• 2016-09-08 Sold (Public Records) $129,500 Public Records
• 2016-09-08 Sold (MLS) $129,500 NWMLS as Distributed by MLS Grid
• 2016-08-24 Pending — NWMLS as Distributed by MLS Grid
• 2016-08-06 Pending — NWMLS as Distributed by MLS Grid
• 2016-03-29 Listed $129,500 NWMLS as Distributed by MLS Grid
• 2005-01-31 Sold (Public Records) $78,800 Public Records
• 2005-01-31 Sold (MLS) $78,800 NWMLS as Distributed by MLS Grid
• 2004-12-13 Listed $75,000 NWMLS as Distributed by MLS Grid
• 2000-09-21 Sold (Public Records) $64,000 Public Records

Property tax history

+4.6%/yr

Latest (2026): $1,436 · -0.2% YoY. Source: county tax records.