758 C Point Brown Ave SE · Ocean Shores, WA 98569

$265,000

2 bd · 1.0 ba · 2,450 sqft · MultiFamily public records · 32 Days on market

Built 2021 0.28 ac lot

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Why this score? — see what drove the B- 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +3.4/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

Unique opportunity on the Grand Canal in Ocean Shores! Like-new 2021 build - this 2 bed, 1 bath home has a custom feel at an affordable price. Vaulted ceilings in the living/kitchen area. Future loft can be built above living area to add additional living space. Custom kitchen with granite slab eat-in island. Two good sized bedrooms and a full bathroom. Living on the Grand Canal is more visually spacious and enjoyable! The glistening from the water in your own backyard offers tranquility with an abundance of wildlife all around you! Baby ducklings, otters, beavers and deer, just to name a few. Peaceful backyard facing the canal and two asphalt surface parking spaces out front! Also, just mi

Key facts

• Custom kitchen
• Boat launches
• Peaceful backyard

Tags

• CUSTOM KITCHEN
• GRANITE SLAB EAT-IN ISLAND
• PEACEFUL BACKYARD
• ASPHALT SURFACE PARKING
• MINUTES AWAY FROM BEACHES
• BOAT LAUNCHES

Property features AI

Finance

• Other: Living area approximately 815; Lot size about 0.28 acres; Listed as active
• Financial info: Accepts Cash, Conventional, FHA, VA financing

Exterior

• Parking: Driveway; Off-street parking
• Utilities: Electric power; Public water; Sewer connected
• Home design: Single-family residence, one story; Main-level entry; Has a view
• Construction: Built on lot; Cement plank exterior; Composition roof; Poured concrete foundation; House structure
• Exterior features: Cement plank siding; Wooded lot; On waterfront; Level topography

Interior

• Kitchen: Refrigerator; Stove/Range
• Bedrooms: 2 bedrooms (both on the main level)
• Flooring: Vinyl plank flooring
• Bathrooms: 1 full bathroom with bathtub and shower
• Heating & cooling: Ductless heating; Wall furnace; Cooling present
• Interior features: Vaulted ceilings

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath multifamily listed at $265k.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $265k).
• Recommended offer: $257k (3.0% below list) — sets the bar for market timing.
• Cap rate 12.8% 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: 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; 297 units permitted in Grays Harbor County in 2024 (17 in 5+ unit buildings).
• At $4,083/mo this rent would consume 84% of the median local household income ($58k/yr) (locally 172% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $74k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 32 days — a 3% lower offer ($257k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 7y 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 $48k; list at $265k implies a 458% gain — meaningful room to come down on a strong offer.

Recommended offer $257,050 (3.0% below list)

Questions for the listing agent

1. It's been on market 32 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
4. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
5. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.54% ✓
• Cap rate: 12.82%
• Cash-on-cash: 23.31%
• DSCR: 2.04
• GRM: 5.4

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: 16.4%
• Equity multiple: 1.66×
• Total profit: $48,887
• Equity at exit: $39,512

10-year hold

• IRR: 24.9%
• Equity multiple: 3.17×
• Total profit: $160,905
• Equity at exit: $22,912

Cash invested: $74,200 (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: 10.8×

Monthly cashflow live

• Estimated rent: $4,083 medium
• Mortgage (P&I): −$1,390
• Tax from tax record: −$284 /mo · $3,410/yr
• Insurance: −$110
• HOA: −$0
• Vacancy / Maint / Mgmt: −$857
• Net cashflow: $1,441

Break-even live

Break-even rent $2,259

Max offer price $265,000

Occupancy floor 60%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$4,082
Total (2 units)			$4,083

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: $66,250
• Closing costs: $7,950
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-19
   days on market $265,000 Active 32 DOM
2. 2026-06-18
   days on market $265,000 Active 31 DOM
3. 2026-06-17
   days on market $265,000 Active 30 DOM
4. 2026-06-16
   days on market $265,000 Active 29 DOM
5. 2026-06-15
   days on market $265,000 Active 28 DOM
6. 2026-06-14
   days on market $265,000 Active 26 DOM
7. 2026-06-12
   days on market $265,000 Active 25 DOM
8. 2026-06-09
   days on market $265,000 Active 22 DOM
9. 2026-06-08
   days on market $265,000 Active 21 DOM
10. 2026-06-07
    days on market $265,000 Active 20 DOM
11. 2026-06-05
    days on market $265,000 Active 17 DOM
12. 2026-06-03
    days on market $265,000 Active 16 DOM
13. 2026-06-02
    days on market $265,000 Active 15 DOM
14. 2026-06-01
    days on market $265,000 Active 14 DOM
15. 2026-05-31
    days on market $265,000 Active 13 DOM
16. 2026-05-30
    days on market $265,000 Active 12 DOM
17. 2026-05-18
    listed $265,000 Active
18. 2020-02-14
    soldstatus $47,500 Sold
19. 2020-02-14
    soldstatus $95,000
20. 2020-01-18
    status Pending Feasibility
21. 2019-11-12
    listed $55,000 Active

ⓘ 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: $3,410 · $284/mo
• Projected year-2 tax: $3,410 · $284/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 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: $48,996
• − Mortgage interest: −$14,844
• − Property taxes: −$3,410
• − Insurance: −$1,325
• − Repairs & maintenance: −$3,920
• − Management: −$3,920
• − Depreciation: −$7,709
• Taxable income: $13,868
• Est. tax owed @ 24.0%: −$3,328
• After-tax cash flow: $13,967/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

+381.8% since first listed

5 events — show timeline

• 2026-05-18 Listed $265,000 NWMLS as Distributed by MLS Grid
• 2020-02-14 Sold (Public Records) $95,000 Public Records
• 2020-02-14 Sold (MLS) $47,500 NWMLS as Distributed by MLS Grid
• 2020-01-18 Pending — NWMLS as Distributed by MLS Grid
• 2019-11-12 Listed $55,000 NWMLS as Distributed by MLS Grid

Property tax history

+31.1%/yr

Latest (2026): $3,410 · -1.5% YoY. Source: county tax records.