1507 198 Pl · Long Beach, WA 98631

$325,000

2 bd · 2.0 ba · 1,080 sqft · Manufactured public records · 16 Days on market

Built 1992 6,098 sqft lot Est $259k · 25% over

---

Why this score? — see what drove the F 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 +14.6/30.0
• DSCR +4.4/10.0
• Livability +3.9/5.0
• Schools +3.7/10.0
• 1% rule +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

West side cutie on board! You'll be pleased to see this 2 bed, 2 bath nicely maintained home complimented by a great yard, 320 sq ft. front deck, & a path to the beach at the end of the road! Inside find nicely done laminate flooring, new backsplash tiles in kitchen & bathrooms, new ceramic tile in 2nd shower/bath. Main bedroom an ensuite w/2 seperate closets. Skylight in the kitchen & bathroom add an extra rays of light into the home. An Outdoor structure has been converted into a guest room.

Key facts

• Detached studio
• Covered garden
• 6,098 sq ft lot

Tags

• WALKING PATH TO THE BEACH
• DETACHED STUDIO
• COVERED GARDEN
• LARGE SHED FOR STORAGE

Property features AI

Finance

• Other: Lot on a dead-end street; Garden space; Lot dimensions approximately 75 x 80 ft
• Financial info: Listing terms: Cash or Conventional

Exterior

• Parking: Driveway; Off-street parking
• Utilities: Electric service; Community water; Septic tank; Internet available (Choice); Power provided by PUD #2
• Home design: Manufactured on land (double wide); One level; Main entry; Faces south
• Construction: Built/Effective year 1992; Cement plank and wood construction; Composition roof; Poured concrete foundation
• Exterior features: Deck; Cement planked and wood exterior

Interior

• Kitchen: Dishwasher; Stove/Range; Refrigerator
• Bedrooms: 3 bedrooms (all on the main level)
• Flooring: Vinyl plank; Carpet
• Bathrooms: 2 full bathrooms; 2 bathtubs
• Heating & cooling: Forced air heating; Wall furnace; Forced air cooling
• Interior features: Ceiling fans; Skylights
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $325k.

Deal economics

• At list price, monthly cash flow is $75 ($901/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 (20.0% below list).
• Recommended offer: $260k (20.0% below list) — sets the bar for 1% rule.
• Cap rate 6.6% vs local median 3.0% in Long Beach — 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 78/100 on livability (#133 in WA, #2,635 nationally) — a middle-class / working-renter tenant base. Strengths: health & safety A+, crime A-, amenities A-; Watch: employment C-, commute 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 $10k 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 16 days — a 2% lower offer ($320k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 11y 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 $255k; 27% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $260,000 (20.0% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
3. 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.
4. 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.
5. 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: 0.80% ✗
• Cap rate: 6.57%
• Cash-on-cash: 0.99%
• DSCR: 1.04
• GRM: 10.4

CMA / ARV

• ARV (on-the-fly): $259,200
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1525 197th St	0.10mi	2/1.0	952 (-12%)	21mo	$125,500	$132	54
20203 Crane Pl	0.68mi	3/2.0 (+1)	1,120 (+4%)	7mo	$235,000	$210	51
1213 196th Pl	0.17mi	3/2.0 (+1)	1,200 (+11%)	23mo	$346,000	$288	49
20205 Crane Pl	0.68mi	2/2.0	1,188 (+10%)	14mo	$285,000	$240	40

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: -14.8%
• Equity multiple: 0.47×
• Total profit: $-48,008
• Equity at exit: $48,459

10-year hold

• IRR: -6.2%
• Equity multiple: 0.60×
• Total profit: $-36,156
• Equity at exit: $28,100

Cash invested: $91,000 (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: 10.4×

Monthly cashflow live

• Estimated rent: $2,600 medium
• Mortgage (P&I): −$1,704
• Tax from tax record: −$139 /mo · $1,670/yr
• Insurance: −$135
• HOA: −$0
• Vacancy / Maint / Mgmt: −$546
• Net cashflow: $75

Break-even live

Break-even rent $2,505

Max offer price $325,000

Occupancy floor 92%

Sensitivity live

Price	-10% $259	-5% $167	+0% $75	+5% $-17	+10% $-109
Rent	-10% $-130	-5% $-28	+0% $75	+5% $178	+10% $280
Rate	-1.0pp $239	-0.5pp $158	base $75	+0.5pp $-9	+1.0pp $-95

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: $81,250
• Closing costs: $9,750
• 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	45d	1	1.00mi

Listing history 14 events

1. 2026-06-21
   days on market $325,000 Active 16 DOM
2. 2026-06-21
   days on market $325,000 Active 15 DOM
3. 2026-06-18
   days on market $325,000 Active 13 DOM
4. 2026-06-17
   days on market $325,000 Active 12 DOM
5. 2026-06-16
   days on market $325,000 Active 11 DOM
6. 2026-06-15
   days on market $325,000 Active 10 DOM
7. 2026-06-15
   days on market $325,000 Active 9 DOM
8. 2026-06-13
   days on market $325,000 Active 8 DOM
9. 2026-06-12
   days on market $325,000 Active 7 DOM
10. 2026-06-09
    days on market $325,000 Active 4 DOM
11. 2026-06-08
    days on market $325,000 Active 3 DOM
12. 2026-06-08
    days on market $325,000 Active 2 DOM
13. 2026-06-07
    remarks 699-char remark
14. 2026-06-07
    listed $325,000 Active 1 DOM

ⓘ 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: $1,670 · $139/mo
• Projected year-2 tax: $3,185 · $265/mo
• Expected delta: +$1,515/yr (+$126/mo · 90.7%)

ⓘ 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 8 d/yr ≥74°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: $31,200
• − Mortgage interest: −$18,205
• − Property taxes: −$1,670
• − Insurance: −$1,625
• − Repairs & maintenance: −$2,496
• − Management: −$2,496
• − Depreciation: −$9,455
• Taxable loss: −$4,747
• Est. tax savings @ 24.0%: +$1,139
• After-tax cash flow: $2,040/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 — Long Beach

• Score: 78/100
• State rank: #133
• US rank: #2635

Category grades

Amenities A- Commute F Cost of living A- Crime A- Employment C- 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

+333.3% since first listed

17 events — show timeline

• 2026-06-05 Listed $325,000 NWMLS as Distributed by MLS Grid
• 2021-12-13 Sold (MLS) $255,000 NWMLS as Distributed by MLS Grid
• 2021-12-13 Sold (MLS) $255,000 RMLS
• 2021-10-12 Pending — NWMLS as Distributed by MLS Grid
• 2021-10-12 Pending — RMLS
• 2021-10-10 Price Changed $255,000 RMLS
• 2021-10-10 Relisted — RMLS
• 2021-10-06 Relisted — NWMLS as Distributed by MLS Grid
• 2021-09-13 Pending — RMLS
• 2021-09-08 Pending — NWMLS as Distributed by MLS Grid
• 2021-09-02 Listed $248,000 NWMLS as Distributed by MLS Grid
• 2021-09-02 Listed $248,000 RMLS
• 2016-04-27 Sold (Public Records) $120,000 Public Records
• 2016-04-27 Sold (MLS) $120,000 NWMLS as Distributed by MLS Grid
• 2016-03-05 Contingent — NWMLS as Distributed by MLS Grid
• 2015-12-14 Listed $125,000 NWMLS as Distributed by MLS Grid
• 2002-12-02 Sold (Public Records) $75,000 Public Records

Property tax history

+2.6%/yr

Latest (2026): $1,670 · -11.8% YoY. Source: county tax records.