1938 W Highway 101 · Port Angeles, WA 98363

$325,000

3 bd · 1.0 ba · 1,120 sqft · SingleFamily public records · 122 Days on market

Built 1964 0.55 ac lot $290/sqft · 25% below area Est $433k · 25% 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 +7.8/30.0
• Schools +5.2/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.9/10.0
• 1% rule +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Well-priced one-level rambler located right outside of Port Angeles. Three BR one bath, w/ recent upgrades including new carpeting (solid oak under carpet), new interior paint, newer double-pane windows, and more. Detached garage + carport, all on a . 55 lot. Industrial zoning; home could be used as a business. Lots of potential, value, and privacy!

Key facts

• Industrial zoning
• Two-car carport
• Central workspace

Tags

• INDUSTRIAL ZONING
• TWO-CAR CARPORT
• FLEXIBLE USE SPACE
• CENTRAL WORKSPACE

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $325k.

Deal economics

• At list price, monthly cash flow is $-357 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $262k (19.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $216k (33.6% below list).
• Recommended offer: $216k (33.6% below list) — sets the bar for 1% rule.
• Cap rate 5.0% vs local median 2.7% in Port Angeles — 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 78/100 on livability (#138 in WA, #2,729 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, health & safety A+; Watch: employment C-, crime 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.
• Market conditions: 128 active listings in the ZIP; 166 units permitted in Clallam County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Clallam County population projected at +5% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 122 days — a 12% lower offer ($286k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 8y ago; this cycle's ask has dropped $25k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $225k; 44% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $215,889 (33.6% 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. It's been on market 122 days. Have you received any prior offers? Is the seller open to a 34% concession, seller financing, or rate buy-down credit?
3. Built in 1964 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. Crime grade is F 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.66% ✗
• Cap rate: 4.97%
• Cash-on-cash: -4.71%
• DSCR: 0.79
• GRM: 12.5

CMA / ARV

• ARV (median comp): $432,530
• List price: $325,000
• Delta: -24.86%
• Verdict: UNDERPRICED
• Comps: 7 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3917 S Airport	0.48mi	3/2.0	1,050 (-6%)	12mo	$436,000	$415	53

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: -24.3%
• Equity multiple: 0.17×
• Total profit: $-75,487
• Equity at exit: $48,459

10-year hold

• IRR: -19.8%
• Equity multiple: -0.05×
• Total profit: $-95,344
• Equity at exit: $28,100

Cash invested: $91,000 (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 98363

• Active inventory: 128
• Price-to-rent: 12.5×

Monthly cashflow live

• Estimated rent: $2,159 medium
• Mortgage (P&I): −$1,704
• Tax from tax record: −$223 /mo · $2,674/yr
• Insurance: −$135
• HOA: −$0
• Vacancy / Maint / Mgmt: −$453
• Net cashflow: $-357

Break-even live

Break-even rent $2,611

Max offer price $261,918

Occupancy floor —

Sensitivity live

Price	-10% $-173	-5% $-265	+0% $-357	+5% $-449	+10% $-541
Rent	-10% $-528	-5% $-442	+0% $-357	+5% $-272	+10% $-187
Rate	-1.0pp $-193	-0.5pp $-274	base $-357	+0.5pp $-441	+1.0pp $-527

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: $81,250
• Closing costs: $9,750
• Reserves months: —
• Total cash needed: —

Listing history 27 events

1. 2026-06-21
   days on market $325,000 Active 122 DOM
2. 2026-06-18
   days on market $325,000 Active 120 DOM
3. 2026-06-17
   days on market $325,000 Active 119 DOM
4. 2026-06-16
   days on market $325,000 Active 118 DOM
5. 2026-06-15
   days on market $325,000 Active 117 DOM
6. 2026-06-15
   days on market $325,000 Active 116 DOM
7. 2026-06-13
   days on market $325,000 Active 115 DOM
8. 2026-06-12
   days on market $325,000 Active 114 DOM
9. 2026-06-09
   days on market $325,000 Active 111 DOM
10. 2026-06-08
    days on market $325,000 Active 110 DOM
11. 2026-06-08
    days on market $325,000 Active 109 DOM
12. 2026-06-07
    days on market $325,000 Active 108 DOM
13. 2026-06-03
    days on market $325,000 Active 105 DOM
14. 2026-06-02
    days on market $325,000 Active 104 DOM
15. 2026-06-01
    days on market $325,000 Active 103 DOM
16. 2026-05-31
    days on market $325,000 Active 102 DOM
17. 2026-04-10
    price $325,000
18. 2026-03-05
    price $340,000
19. 2026-02-18
    listed $350,000 Active
20. 2020-10-06
    soldstatus $225,000 351-char remark

    Show marketing remark (351 chars)

    Well-priced one-level rambler located right outside of Port Angeles. Three BR one bath, w/ recent upgrades including new carpeting (solid oak under carpet), new interior paint, newer double-pane windows, and more. Detached garage + carport, all on a . 55 lot. Industrial zoning; home could be used as a business. Lots of potential, value, and privacy!

21. 2020-10-06
    soldstatus $225,000

    Show marketing remark (351 chars)

    Well-priced one-level rambler located right outside of Port Angeles. Three BR one bath, w/ recent upgrades including new carpeting (solid oak under carpet), new interior paint, newer double-pane windows, and more. Detached garage + carport, all on a . 55 lot. Industrial zoning; home could be used as a business. Lots of potential, value, and privacy!

22. 2020-10-06
    soldstatus $225,000

    Show marketing remark (351 chars)

    Well-priced one-level rambler located right outside of Port Angeles. Three BR one bath, w/ recent upgrades including new carpeting (solid oak under carpet), new interior paint, newer double-pane windows, and more. Detached garage + carport, all on a . 55 lot. Industrial zoning; home could be used as a business. Lots of potential, value, and privacy!

23. 2020-07-29
    listed $225,000
24. 2019-10-04
    soldstatus $165,000 321-char remark

    Show marketing remark (321 chars)

    Single story 1,120 sf rambler with 3 bedrooms, one bathroom, on 0.55 acres has newer double pane windows and four year old roof. Oak hardwood floors are under the carpet in all rooms except kitchen and bath. Garage and carport. Industrial zoning so home could easily be used as a business. Seller financing is available.

25. 2019-10-04
    soldstatus $165,000

    Show marketing remark (321 chars)

    Single story 1,120 sf rambler with 3 bedrooms, one bathroom, on 0.55 acres has newer double pane windows and four year old roof. Oak hardwood floors are under the carpet in all rooms except kitchen and bath. Garage and carport. Industrial zoning so home could easily be used as a business. Seller financing is available.

26. 2019-10-04
    soldstatus $165,000

    Show marketing remark (321 chars)

    Single story 1,120 sf rambler with 3 bedrooms, one bathroom, on 0.55 acres has newer double pane windows and four year old roof. Oak hardwood floors are under the carpet in all rooms except kitchen and bath. Garage and carport. Industrial zoning so home could easily be used as a business. Seller financing is available.

27. 2018-10-05
    listed $180,000

ⓘ 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: $2,674 · $223/mo
• Projected year-2 tax: $3,185 · $265/mo
• Expected delta: +$511/yr (+$43/mo · 19.1%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 1/10 Low 7 d/yr ≥83°F today · 13 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 6/10 Major 7 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,907
• − Mortgage interest: −$18,205
• − Property taxes: −$2,674
• − Insurance: −$1,625
• − Repairs & maintenance: −$2,073
• − Management: −$2,073
• − Depreciation: −$9,455
• Taxable loss: −$10,197
• Est. tax savings @ 24.0%: +$2,447
• After-tax cash flow: $-1,838/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: Port Angeles School District
• NCES district ID: 5306820
• Math proficiency: 55% ▬ 0.00%
• Reading proficiency: 65% ▲ 1.00%
• Median HH income: $46,594
• Composite: 52.34/100
• National rank: #3432
• State rank: #70 of 291 in WA

Livability — Port Angeles

• Score: 78/100
• State rank: #138
• US rank: #2729

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Port Angeles, WA
• Population (ZIP): 14,644

Population outlook (Clallam County) Hauer SSP2

• Today (2025): 76,817 people
• By 2030: 78,177 · +1.8%
• By 2040: 79,795 · +3.9%
• By 2050: 80,890 · +5.3%
• By 2075: 83,933 · +9.3%
• By 2100: 82,141 · +6.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (80%)
• Race & ethnicity: White 80% Two or more races 9% Hispanic / Latino 6% Native American 5%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Italian 8% Portuguese 6% Slovak 4%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 2%

Political lean MEDSL · Clallam

• 2024 margin: Lean D (+7.9) · D 52.6% · R 44.7% · Other 2.7%
• 2008→2024 swing: +4.6pp toward D · 2008: 3.3pp · 2024: 7.9pp
• All cycles: 2024: D+7.9 2020: D+3.4 2016: R+1.6 2012: D+0.4 2008: D+3.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -269.47%
• Current HPI: 198.0851
• 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

+80.6% since first listed

11 events — show timeline

• 2026-04-10 Price Changed $325,000 NWMLS as Distributed by MLS Grid
• 2026-03-05 Price Changed $340,000 NWMLS as Distributed by MLS Grid
• 2026-02-18 Listed $350,000 NWMLS as Distributed by MLS Grid
• 2020-10-06 Sold (Public Records) $225,000 Public Records
• 2020-10-06 Sold (MLS) $225,000 NWMLS as Distributed by MLS Grid
• 2020-10-06 Sold (MLS) $225,000 OLS
• 2020-07-29 Listed $225,000 NWMLS as Distributed by MLS Grid
• 2019-10-04 Sold (Public Records) $165,000 Public Records
• 2019-10-04 Sold (MLS) $165,000 NWMLS as Distributed by MLS Grid
• 2019-10-04 Sold (MLS) $165,000 OLS
• 2018-10-05 Listed $180,000 NWMLS as Distributed by MLS Grid

Property tax history

+6.6%/yr

Latest (2026): $2,674 · -6.1% YoY. Source: county tax records.