555 Sunset Ave NE · Ocean Shores, WA 98569

$578,000

8 bd · 6.0 ba · 3,952 sqft · MultiFamily public records · 80 Days on market

Built 1974 10,019 sqft lot $146/sqft · 52% below area

---

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 +24.9/30.0
• DSCR +8.1/10.0
• ARV discount +7.5/15.0
• 1% rule +5.4/10.0
• 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: 4 units. confirmed

Listing remarks

Great opportunity to own an income-producing investment at the beach! This well-located 4-plex ideally located close to beach approaches, canals, and Damon Point. Each unit features 2 bedrooms and 1.5 baths, The half bath is off the primary bedroom. Functional layouts include full kitchens with all appliances, Dining room, spacous living room with fireplace, plus washer/dryers in every unit. all units are approx 988 Sqft. Tenants enjoy the balconies and small patio spaces, adding to long-term rental appeal. Strong income-producing property with consistent rental demand in a desirable coastal market—excellent opportunity for investors or owner-users looking to build equity at the beach

Key facts

• Well-located 4-plex
• 0.23 acre lot
• Built 1974

Tags

• WELL-LOCATED 4-PLEX
• WASHER DRYERS IN EVERY UNIT

What this means for you Summary

Snapshot

• This is a 4 × 2.0-bed/1.5-bath units multifamily listed at $578k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive. Per door: $308/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $578k).
• Recommended offer: $543k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.9% 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 $6,035/mo this rent would consume 124% 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 $4k of loan paydown is wiped out by about $17k 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 80 days — a 6% lower offer ($543k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 22y 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 $150k; list at $578k implies a 287% gain — meaningful room to come down on a strong offer.

Recommended offer $543,320 (6.0% below list)

Questions for the listing agent

1. It's been on market 80 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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.
8. 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.
9. 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: 1.04% ✓
• Cap rate: 8.85%
• Cash-on-cash: 9.13%
• DSCR: 1.41
• GRM: 8.0

CMA / ARV

• ARV (median comp): $1,209,972
• List price: $578,000
• Delta: -52.23%
• Verdict: UNDERPRICED
• Comps: 2 within 2.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
671 Sunset Ave NE Unit 1-4	0.47mi	8/4.0	3,368 (-15%)	15mo	$758,000	$225	33

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: -2.5%
• Equity multiple: 0.90×
• Total profit: $-15,397
• Equity at exit: $86,182

10-year hold

• IRR: 7.1%
• Equity multiple: 1.54×
• Total profit: $86,839
• Equity at exit: $49,975

Cash invested: $161,840 (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: 31.9×

Monthly cashflow live

• Estimated rent: $6,035 medium
• Mortgage (P&I): −$3,031
• Tax from tax record: −$264 /mo · $3,167/yr
• Insurance: −$241
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,267
• Net cashflow: $1,232

Break-even live

Break-even rent $4,476

Max offer price $578,000

Occupancy floor 75%

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

Units	Beds	Baths	Est. rent
▸ 4× units	2.0	1.5	$6,036
Total (4 units)			$6,035

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: $144,500
• Closing costs: $17,340
• Reserves months: —
• Total cash needed: —

Listing history 36 events

1. 2026-06-19
   days on market $578,000 Active 80 DOM
2. 2026-06-18
   days on market $578,000 Active 79 DOM
3. 2026-06-17
   days on market $578,000 Active 78 DOM
4. 2026-06-16
   days on market $578,000 Active 77 DOM
5. 2026-06-15
   days on market $578,000 Active 76 DOM
6. 2026-06-14
   days on market $578,000 Active 74 DOM
7. 2026-06-12
   days on market $578,000 Active 73 DOM
8. 2026-06-09
   days on market $578,000 Active 70 DOM
9. 2026-06-08
   days on market $578,000 Active 69 DOM
10. 2026-06-07
    days on market $578,000 Active 68 DOM
11. 2026-06-05
    days on market $578,000 Active 65 DOM
12. 2026-06-03
    days on market $578,000 Active 64 DOM
13. 2026-06-02
    days on market $578,000 Active 63 DOM
14. 2026-06-01
    days on market $578,000 Active 62 DOM
15. 2026-05-31
    days on market $578,000 Active 61 DOM
16. 2026-05-30
    days on market $578,000 Active 60 DOM
17. 2026-03-31
    listed $578,000 Active
18. 2010-03-11
    soldstatus $149,500 Sold
19. 2010-02-01
    status Pending
20. 2010-01-21
    status
21. 2010-01-19
    historical
22. 2010-01-06
    price $149,500
23. 2009-12-04
    price $180,000
24. 2009-12-04
    status
25. 2009-12-01
    historical
26. 2009-11-16
    price $190,000
27. 2009-10-15
    price $215,900
28. 2009-10-15
    status
29. 2009-10-14
    historical
30. 2009-09-14
    price $227,500
31. 2009-08-31
    price $246,800
32. 2009-07-01
    listed $267,225 Active
33. 2004-06-15
    soldstatus $219,000
34. 2004-06-15
    soldstatus $219,000
35. 2004-04-13
    listed $219,000
36. 2001-07-20
    soldstatus $100,000

ⓘ 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: $3,167 · $264/mo
• Projected year-2 tax: $5,664 · $472/mo
• Expected delta: +$2,497/yr (+$208/mo · 78.9%)

ⓘ 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: $72,420
• − Mortgage interest: −$32,377
• − Property taxes: −$3,167
• − Insurance: −$2,890
• − Repairs & maintenance: −$5,794
• − Management: −$5,794
• − Depreciation: −$16,815
• Taxable income: $5,584
• Est. tax owed @ 24.0%: −$1,340
• After-tax cash flow: $13,441/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

+478.0% since first listed

20 events — show timeline

• 2026-03-31 Listed $578,000 NWMLS as Distributed by MLS Grid
• 2010-03-11 Sold (MLS) $149,500 NWMLS as Distributed by MLS Grid
• 2010-02-01 Pending — NWMLS as Distributed by MLS Grid
• 2010-01-21 Relisted — NWMLS as Distributed by MLS Grid
• 2010-01-19 Delisted — NWMLS as Distributed by MLS Grid
• 2010-01-06 Price Changed $149,500 NWMLS as Distributed by MLS Grid
• 2009-12-04 Relisted — NWMLS as Distributed by MLS Grid
• 2009-12-04 Price Changed $180,000 NWMLS as Distributed by MLS Grid
• 2009-12-01 Delisted — NWMLS as Distributed by MLS Grid
• 2009-11-16 Price Changed $190,000 NWMLS as Distributed by MLS Grid
• 2009-10-15 Relisted — NWMLS as Distributed by MLS Grid
• 2009-10-15 Price Changed $215,900 NWMLS as Distributed by MLS Grid
• 2009-10-14 Delisted — NWMLS as Distributed by MLS Grid
• 2009-09-14 Price Changed $227,500 NWMLS as Distributed by MLS Grid
• 2009-08-31 Price Changed $246,800 NWMLS as Distributed by MLS Grid
• 2009-07-01 Listed $267,225 NWMLS as Distributed by MLS Grid
• 2004-06-15 Sold (Public Records) $219,000 Public Records
• 2004-06-15 Sold (MLS) $219,000 NWMLS as Distributed by MLS Grid
• 2004-04-13 Listed $219,000 NWMLS as Distributed by MLS Grid
• 2001-07-20 Sold (Public Records) $100,000 Public Records

Property tax history

+3.0%/yr

Latest (2026): $3,167 · -1.5% YoY. Source: county tax records.