1405 184TH Pl · Ocean Park, WA 98631

$299,000

2 bd · 1.0 ba · 904 sqft · SingleFamily public records · 13 Days on market

Built 1971 6,500 sqft lot $331/sqft · 9% above area Est $366k · 18% under

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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 +17.7/30.0
• ARV discount +15.0/15.0
• DSCR +5.5/10.0
• 1% rule +3.7/10.0
• Schools +3.7/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Completely Remodeled Beach Retreat.Welcome to your Long Beach getaway—perfectly positioned on a quiet dead-end road with direct beach access and backing to peaceful green space for added privacy. This beautifully updated home has been remodeled inside and out, offering a clean, modern feel with all the right upgrades.Step inside to an open, bright living space featuring new luxury vinyl plank flooring, fresh interior and exterior paint, and a cozy brick wood-burning fireplace—perfect for relaxing after a day at the beach. The remodeled kitchen shines with new cabinetry, updated counters, stainless steel appliances, and a convenient pantry for extra storage.The home also features vinyl windows, a fully remodeled bathroom, and thoughtful finishes throughout. Outside, you’ll find an oversized single-car garage with additional storage, plus ample room for RV parking.Enjoy the rare combination of privacy, functionality, and location—just moments from the sand with a serene natural backdrop.Beach living made easy—move-in ready and a must-see

Key facts

• Remodeled kitchen
• Direct beach access
• Peaceful green space

Tags

• DIRECT BEACH ACCESS
• PEACEFUL GREEN SPACE
• REMODELED KITCHEN
• FULLY REMODELED BATHROOM
• OVERSIZED SINGLE-CAR GARAGE
• AMPLE ROOM FOR RV PARKING

Property features AI

Finance

• Other: Living area listed as 1,200 (source: SLR)
• Financial info: Acceptable financing: Cash, Conventional, FHA, VA

Exterior

• Parking: Attached carport (covered, 1 space)
• Utilities: Electric energy source; Individual well water; Septic tank sewer
• Home design: Single-family residence, one story; House structure; Entry built on lot
• Construction: Wood construction; Composition roof; Block foundation; Built on lot
• Exterior features: Wood exterior / wood products; Partial slope topography; Community waterfront / private beach access; Has view

Interior

• Kitchen: Kitchen (no eating area)
• Bedrooms: Two bedrooms, both on the main level
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Wall furnace heating; Wall unit cooling
• Interior features: Living room on main level; Kitchen without eating space on main level; Main-level full bathroom; Primary bedroom on main level; Second bedroom on main level

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $299k.

Deal economics

• At list price, monthly cash flow is $238 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $260k (13.0% below list).
• Recommended offer: $260k (13.0% below list) — sets the bar for 1% rule.
• Cap rate 7.2% vs local median 4.2% in Ocean Park — 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 72/100 on livability (#216 in WA) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, crime A; Watch: commute D+, employment D+, amenities F.
• Ocean Beach School District (rural): math 34% / reading 50% proficiency, ranked #212 of 291 in WA (top 73%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Ocean Park Elementary (196 students, 76% FRL); Hilltop Elementary School (236 students, 70% FRL); Ilwaco High School (296 students, 64% FRL).
• Market conditions: 122 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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 $2k of loan paydown is wiped out by about $9k 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 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 $260,000 (13.0% below list)

Questions for the listing agent

1. Built in 1971 — 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: 0.87% ✗
• Cap rate: 7.25%
• Cash-on-cash: 3.42%
• DSCR: 1.15
• GRM: 9.6

CMA / ARV

• ARV (median comp): $365,645
• List price: $299,000
• Delta: -18.23%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1206 184th Pl	0.10mi	2/1.0	992 (+10%)	2mo	$500,000	$504	78
1402 198th Pl	0.68mi	2/1.0	864 (-4%)	22mo	$168,000	$194	43

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: -11.0%
• Equity multiple: 0.60×
• Total profit: $-33,390
• Equity at exit: $44,582

10-year hold

• IRR: -1.8%
• Equity multiple: 0.88×
• Total profit: $-10,000
• Equity at exit: $25,852

Cash invested: $83,720 (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 98631

• Home prices YoY: -17.6%
• Active inventory: 122
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $2,600 medium
• Mortgage (P&I): −$1,568
• Tax from tax record: −$123 /mo · $1,478/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$546
• Net cashflow: $238

Break-even live

Break-even rent $2,298

Max offer price $299,000

Occupancy floor 86%

Sensitivity live

Price	-10% $408	-5% $323	+0% $238	+5% $154	+10% $69
Rent	-10% $33	-5% $136	+0% $238	+5% $341	+10% $444
Rate	-1.0pp $389	-0.5pp $314	base $238	+0.5pp $161	+1.0pp $82

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: $74,750
• Closing costs: $8,970
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1509 178th Pl Long Beach, WA	2.0	1.0	896	$2,600	$2.90	46d	1	0.31mi

Listing history 4 events

1. 2026-05-14
   status Pending 1081-char remark

   Show marketing remark (1081 chars)

   Completely Remodeled Beach Retreat.Welcome to your Long Beach getaway—perfectly positioned on a quiet dead-end road with direct beach access and backing to peaceful green space for added privacy. This beautifully updated home has been remodeled inside and out, offering a clean, modern feel with all the right upgrades.Step inside to an open, bright living space featuring new luxury vinyl plank flooring, fresh interior and exterior paint, and a cozy brick wood-burning fireplace—perfect for relaxing after a day at the beach. The remodeled kitchen shines with new cabinetry, updated counters, stainless steel appliances, and a convenient pantry for extra storage.The home also features vinyl windows, a fully remodeled bathroom, and thoughtful finishes throughout. Outside, you’ll find an oversized single-car garage with additional storage, plus ample room for RV parking.Enjoy the rare combination of privacy, functionality, and location—just moments from the sand with a serene natural backdrop.Beach living made easy—move-in ready and a must-see

2. 2026-05-12
   status Pending
3. 2026-04-29
   listed $299,000 Active
4. 2026-04-25
   listed $299,000 Active 1081-char remark

   Show marketing remark (1081 chars)

   Completely Remodeled Beach Retreat.Welcome to your Long Beach getaway—perfectly positioned on a quiet dead-end road with direct beach access and backing to peaceful green space for added privacy. This beautifully updated home has been remodeled inside and out, offering a clean, modern feel with all the right upgrades.Step inside to an open, bright living space featuring new luxury vinyl plank flooring, fresh interior and exterior paint, and a cozy brick wood-burning fireplace—perfect for relaxing after a day at the beach. The remodeled kitchen shines with new cabinetry, updated counters, stainless steel appliances, and a convenient pantry for extra storage.The home also features vinyl windows, a fully remodeled bathroom, and thoughtful finishes throughout. Outside, you’ll find an oversized single-car garage with additional storage, plus ample room for RV parking.Enjoy the rare combination of privacy, functionality, and location—just moments from the sand with a serene natural backdrop.Beach living made easy—move-in ready and a must-see

ⓘ 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: $1,478 · $123/mo
• Projected year-2 tax: $2,930 · $244/mo
• Expected delta: +$1,452/yr (+$121/mo · 98.3%)

ⓘ 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 · 15 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: $31,200
• − Mortgage interest: −$16,749
• − Property taxes: −$1,478
• − Insurance: −$1,495
• − Repairs & maintenance: −$2,496
• − Management: −$2,496
• − Depreciation: −$8,698
• Taxable loss: −$2,212
• Est. tax savings @ 24.0%: +$531
• After-tax cash flow: $3,390/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: Ocean Beach School District
• NCES district ID: 5306060
• Math proficiency: 34% ▼ -1.00%
• Reading proficiency: 50% ▲ 1.00%
• Median HH income: $38,549
• Composite: 37.37/100
• National rank: #8929
• State rank: #212 of 291 in WA

Livability — Ocean Park

• Score: 72/100
• State rank: #216
• US rank: #6161

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 3,468

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 (81%)
• Race & ethnicity: White 81% Hispanic / Latino 11% Two or more races 11% Asian 1%
• Hispanic origin (detail): Mexican 7% Puerto Rican 1%
• Common ancestry: Portuguese 5% Slovak 5% Romanian 3%
• Foreign-born: 5% · Canada, South Korea, Vietnam
• Languages at home: 93% English-only · Spanish 6%

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: ▼ -51.26%
• Current HPI: 240.5056
• 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

+0.3% since first listed

7 events — show timeline

• 2026-06-08 Sold (Public Records) $300,000 Public Records
• 2026-06-08 Sold (MLS) $300,000 NWMLS as Distributed by MLS Grid
• 2026-06-08 Sold (MLS) $300,000 RMLS
• 2026-05-14 Pending — RMLS
• 2026-05-12 Pending — NWMLS as Distributed by MLS Grid
• 2026-04-29 Listed $299,000 NWMLS as Distributed by MLS Grid
• 2026-04-25 Listed $299,000 RMLS

Property tax history

+2.6%/yr

Latest (2026): $1,478 · -21.9% YoY. Source: county tax records.