26506 Ridge Ave · Ocean Park, WA 98640

$249,000

3 bd · 2.0 ba · 1,440 sqft · Manufactured public records · 162 Days on market

Built 1980 5,000 sqft lot $173/sqft · 24% below area Est $329k · 24% 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 +22.2/30.0
• ARV discount +15.0/15.0
• DSCR +7.1/10.0
• 1% rule +5.0/10.0
• 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

Remodeled and ready for your beach retreat or year-round residence! New in 2022: all new cabinets, countertops, energy efficient LED lighting, doors, security doors, security cameras, and Pergo flooring. Appliances replaced: stove, refrigerator, washer and dryer. Kitchen is wired for dishwasher and can be installed by removing the bank of drawers to the right of the sink. Big ticket items updated and replaced: Pex plumbing (freeze resistant), energy efficient windows, wall heaters, and new gravity fed-septic installed in 2023 and inspected in November 2025, new roof in 2024.

Key facts

• Security cameras
• Security doors
• New cabinets

Tags

• NEW CABINETS
• NEW COUNTERTOPS
• ENERGY EFFICIENT LED LIGHTING
• SECURITY DOORS
• SECURITY CAMERAS
• PERGO FLOORING

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $249k.

Deal economics

• At list price, monthly cash flow is $404 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $249k).
• Recommended offer: $219k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.2% 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+, schools 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.
• Market conditions: 311 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $7k 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

• It's been on market 162 days — a 12% lower offer ($219k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 4y ago; this cycle's ask has dropped $60k (19%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $120k; list at $249k implies a 108% gain — meaningful room to come down on a strong offer.

Recommended offer $219,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 162 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.00% ✓
• Cap rate: 8.24%
• Cash-on-cash: 6.95%
• DSCR: 1.31
• GRM: 8.3

CMA / ARV

• ARV (median comp): $329,151
• List price: $249,000
• Delta: -24.35%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
26888 U St	0.29mi	2/2.0 (-1)	1,458 (+1%)	16mo	$400,000	$274	66
1710 263rd St	0.14mi	2/2.0 (-1)	1,296 (-10%)	9mo	$386,250	$298	65
27904 J Ln	0.74mi	3/2.0	1,404 (-2%)	10mo	$353,500	$252	53
27905 Q Ln	0.68mi	3/2.0	1,456 (+1%)	22mo	$359,000	$247	48
25211 U St	0.71mi	3/3.0	1,404 (-2%)	21mo	$480,000	$342	41
2550 259th Ln	0.53mi	2/3.0 (-1)	1,539 (+7%)	19mo	$353,000	$229	39

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: -5.7%
• Equity multiple: 0.79×
• Total profit: $-14,689
• Equity at exit: $37,127

10-year hold

• IRR: 4.0%
• Equity multiple: 1.29×
• Total profit: $20,096
• Equity at exit: $21,529

Cash invested: $69,720 (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 98640

• Home prices YoY: -26.7%
• Active inventory: 311
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $2,497 medium
• Mortgage (P&I): −$1,306
• Tax from tax record: −$160 /mo · $1,917/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$524
• Net cashflow: $404

Break-even live

Break-even rent $1,986

Max offer price $249,000

Occupancy floor 79%

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: $62,250
• Closing costs: $7,470
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
24904 J Pl Ocean Park, WA	2.0	1.0	900	$2,900	$3.22	43d	1	0.86mi
27906 U St Ocean Park, WA	3.0	2.5	1440	$2,600	$1.81	43d	1	0.87mi
29014 S Ln Ocean Park, WA	2.0	1.0	924	$1,700	$1.84	43d	1	1.25mi

Listing history 25 events

1. 2026-06-18
   days on market $249,000 Active 162 DOM
2. 2026-06-17
   days on market $249,000 Active 161 DOM
3. 2026-06-16
   days on market $249,000 Active 160 DOM
4. 2026-06-15
   days on market $249,000 Active 159 DOM
5. 2026-06-15
   days on market $249,000 Active 158 DOM
6. 2026-06-13
   days on market $249,000 Active 157 DOM
7. 2026-06-12
   days on market $249,000 Active 156 DOM
8. 2026-06-09
   days on market $249,000 Active 153 DOM
9. 2026-06-08
   days on market $249,000 Active 152 DOM
10. 2026-06-08
    days on market $249,000 Active 151 DOM
11. 2026-06-07
    days on market $249,000 Active 150 DOM
12. 2026-06-03
    days on market $249,000 Active 147 DOM
13. 2026-06-02
    days on market $249,000 Active 146 DOM
14. 2026-06-01
    days on market $249,000 Active 145 DOM
15. 2026-05-31
    days on market $249,000 Active 144 DOM
16. 2026-05-19
    price $249,000
17. 2026-04-12
    price $279,000
18. 2026-01-07
    listed $309,000 Active
19. 2025-11-20
    soldstatus $120,000 Closed
20. 2025-11-03
    status Pending
21. 2025-09-28
    listed $149,000 Active
22. 2022-06-24
    soldstatus $232,000 Closed
23. 2022-06-24
    soldstatus $232,000
24. 2022-06-11
    status Pending
25. 2022-05-06
    listed $249,900 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: $1,917 · $160/mo
• Projected year-2 tax: $2,440 · $203/mo
• Expected delta: +$523/yr (+$44/mo · 27.3%)

ⓘ 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 1/10 Low
• 🌡 Heat 1/10 Low 7 d/yr ≥74°F today · 16 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: $29,970
• − Mortgage interest: −$13,948
• − Property taxes: −$1,917
• − Insurance: −$1,245
• − Repairs & maintenance: −$2,398
• − Management: −$2,398
• − Depreciation: −$7,244
• Taxable income: $821
• Est. tax owed @ 24.0%: −$197
• After-tax cash flow: $4,648/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

• Census place: Ocean Park, WA
• Population (ZIP): 5,107

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 (88%)
• Race & ethnicity: White 88% Two or more races 6% Hispanic / Latino 6% Asian 3%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Portuguese 5% Lithuanian 4% Slovak 4%
• Foreign-born: 7% · Canada, China
• Languages at home: 92% English-only · Spanish 4% Chinese 1% German/W. Germanic 1%

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: ▼ -81.15%
• Current HPI: 222.8758
• 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

-0.4% since first listed

10 events — show timeline

• 2026-05-19 Price Changed $249,000 NWMLS as Distributed by MLS Grid
• 2026-04-12 Price Changed $279,000 NWMLS as Distributed by MLS Grid
• 2026-01-07 Listed $309,000 NWMLS as Distributed by MLS Grid
• 2025-11-20 Sold (MLS) $120,000 NWMLS as Distributed by MLS Grid
• 2025-11-03 Pending — NWMLS as Distributed by MLS Grid
• 2025-09-28 Listed $149,000 NWMLS as Distributed by MLS Grid
• 2022-06-24 Sold (Public Records) $232,000 Public Records
• 2022-06-24 Sold (MLS) $232,000 NWMLS as Distributed by MLS Grid
• 2022-06-11 Pending — NWMLS as Distributed by MLS Grid
• 2022-05-06 Listed $249,900 NWMLS as Distributed by MLS Grid

Property tax history

+10.1%/yr

Latest (2026): $1,917 · +30.4% YoY. Source: county tax records.