792 Cottonwood Ln · Port Angeles East, WA 98362

$185,000

2 bd · 1.0 ba · 728 sqft · Manufactured public records · 27 Days on market

Built 1977 0.63 ac lot

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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 +25.7/30.0
• DSCR +8.6/10.0
• ARV discount +7.5/15.0
• 1% rule +5.8/10.0
• Schools +5.2/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Nice 2 bedroom, 1 bath, 728 sf. home on . 27 acre lot and an additional . 36 acre lot. There is a large living room and eat-in kitchen. Enjoy plenty of privacy and a rural setting, yet minutes from Port Angeles. Fishing and the Dungeness Trail is within walking distance. Plenty of room for RV Parking too! Don't miss this great property!

Key facts

• Shipping container
• Large driveway
• Metal roof

Tags

• LARGE DRIVEWAY
• ESTABLISHED GARDEN AREAS
• METAL ROOF
• COMMUNITY WATER
• SHIPPING CONTAINER
• OLYMPIC DISCOVERY TRAIL

Property features AI

Exterior

• Utilities: Septic tank sewer
• Home design: Manufactured home (residential); One story
• Construction: Metal siding construction
• Exterior features: Level to sloped, irregular lot; Located in Four Seasons Park subdivision

Interior

• Bathrooms: One full bathroom
• Interior features: Single-story interior

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $185k.

Deal economics

• At list price, monthly cash flow is $445 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $185k).
• Recommended offer: $182k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.2% vs local median 1.5% 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.

Location & tenants

• 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, schools 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: 268 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).

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.
• 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 27 days — a 2% lower offer ($182k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 5y 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.

Recommended offer $182,225 (1.5% below list)

Questions for the listing agent

1. Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.08% ✓
• Cap rate: 9.18%
• Cash-on-cash: 10.32%
• DSCR: 1.46
• GRM: 7.7

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: -0.8%
• Equity multiple: 0.97×
• Total profit: $-1,665
• Equity at exit: $27,584

10-year hold

• IRR: 8.8%
• Equity multiple: 1.67×
• Total profit: $34,846
• Equity at exit: $15,995

Cash invested: $51,800 (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 98362

• Active inventory: 268
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $2,000 medium
• Mortgage (P&I): −$970
• Tax from tax record: −$87 /mo · $1,048/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$420
• Net cashflow: $445

Break-even live

Break-even rent $1,436

Max offer price $185,000

Occupancy floor 73%

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2938 E Walnut St Unit 5 Port Angeles, WA	2.0	1.0	740	$2,000	$2.70	43d	1	1.05mi

Listing history 13 events

1. 2026-06-07
   statusdays on market $185,000 Pending 27 DOM
2. 2026-06-03
   days on market $185,000 Active 25 DOM
3. 2026-06-02
   pricedays on market $185,000 Active 24 DOM
4. 2026-06-01
   days on market $192,000 Active 23 DOM
5. 2026-05-31
   days on market $192,000 Active 22 DOM
6. 2026-05-09
   listed $192,000 Active
7. 2026-05-09
   listed $192,000 Active 886-char remark
8. 2022-03-28
   soldstatus $172,000 Closed

   Show marketing remark (339 chars)

   Nice 2 bedroom, 1 bath, 728 sf. home on . 27 acre lot and an additional . 36 acre lot. There is a large living room and eat-in kitchen. Enjoy plenty of privacy and a rural setting, yet minutes from Port Angeles. Fishing and the Dungeness Trail is within walking distance. Plenty of room for RV Parking too! Don't miss this great property!

9. 2022-03-28
   soldstatus $172,000 339-char remark

   Show marketing remark (339 chars)

   Nice 2 bedroom, 1 bath, 728 sf. home on . 27 acre lot and an additional . 36 acre lot. There is a large living room and eat-in kitchen. Enjoy plenty of privacy and a rural setting, yet minutes from Port Angeles. Fishing and the Dungeness Trail is within walking distance. Plenty of room for RV Parking too! Don't miss this great property!

10. 2022-03-28
    soldstatus $172,000

    Show marketing remark (339 chars)

    Nice 2 bedroom, 1 bath, 728 sf. home on . 27 acre lot and an additional . 36 acre lot. There is a large living room and eat-in kitchen. Enjoy plenty of privacy and a rural setting, yet minutes from Port Angeles. Fishing and the Dungeness Trail is within walking distance. Plenty of room for RV Parking too! Don't miss this great property!

11. 2021-11-04
    status Pending
12. 2021-10-28
    listed $172,900 Active
13. 2013-02-01
    soldstatus $38,000

ⓘ 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: $1,048 · $87/mo
• Projected year-2 tax: $1,813 · $151/mo
• Expected delta: +$765/yr (+$64/mo · 73.1%)

ⓘ 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 · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 6/10 Major 8 unhealthy d/yr today · 9 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,000
• − Mortgage interest: −$10,363
• − Property taxes: −$1,048
• − Insurance: −$925
• − Repairs & maintenance: −$1,920
• − Management: −$1,920
• − Depreciation: −$5,382
• Taxable income: $2,443
• Est. tax owed @ 24.0%: −$586
• After-tax cash flow: $4,759/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 East

• Score: 75/100
• State rank: #162
• US rank: #3899

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Port Angeles East, WA
• Population (ZIP): 23,907

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 (84%)
• Race & ethnicity: White 84% Two or more races 8% Hispanic / Latino 7% Native American 1% Asian 1%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Italian 6% Portuguese 6% Lithuanian 4%
• Foreign-born: 4% · Canada
• Languages at home: 95% English-only · Spanish 3% German/W. Germanic 1%

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: ▼ -340.90%
• Current HPI: 189.7112
• 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

+386.8% since first listed

10 events — show timeline

• 2026-06-05 Pending — OLS
• 2026-06-02 Price Changed $185,000 OLS
• 2026-05-09 Listed — NWMLS as Distributed by MLS Grid
• 2026-05-09 Listed $192,000 OLS
• 2022-03-28 Sold (Public Records) $172,000 Public Records
• 2022-03-28 Sold (MLS) $172,000 NWMLS as Distributed by MLS Grid
• 2022-03-28 Sold (MLS) $172,000 OLS
• 2021-11-04 Pending — NWMLS as Distributed by MLS Grid
• 2021-10-28 Listed $172,900 NWMLS as Distributed by MLS Grid
• 2013-02-01 Sold (Public Records) $38,000 Public Records

Property tax history

+8.4%/yr

Latest (2026): $1,048 · -0.3% YoY. Source: county tax records.