408 W Eagle Ave · Oakville, WA 98568

$115,000

2 bd · 1.5 ba · 980 sqft · Manufactured public records · 88 Days on market

Built 1977 8,364 sqft lot $117/sqft · 53% below area ↓ 20% since listing

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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 +24.5/30.0
• DSCR +7.9/10.0
• ARV discount +7.5/15.0
• 1% rule +5.5/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks

Rare build-ready lot in Oakville just minutes from Rochester. This diamond in the rough is the largest lot on the block and offers a peaceful small-town setting with utilities already on site, making it an ideal opportunity to build your dream home. Plenty of space for a mini farm, garden, shop, or hobby property while still enjoying the convenience of being in town. Located close to the post office, local parks, and community amenities with easy access to Rochester and the surrounding areas. Whether you're planning a custom home, investment build, or country-style retreat, this property offers flexibility, space, and great potential. Bring your builder and vision - opportunities like this

Key facts

• Utilities on site
• Largest lot
• Close to local parks

Tags

• BUILD READY LOT
• LARGEST LOT
• UTILITIES ON SITE
• CLOSE TO LOCAL PARKS
• EASY ACCESS TO ROCHESTER

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath manufactured listed at $115k.

Deal economics

• At list price, monthly cash flow is $235 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $115k).
• Recommended offer: $108k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 61/100 on livability (#426 in WA) — a middle-class / working-renter tenant base. Strengths: housing A+, cost of living B+; Watch: health & safety C-, schools D, amenities F.
• Oakville School District (rural): math 15% / reading 30% proficiency, ranked #278 of 291 in WA (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 69% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 12 active listings in the ZIP; 297 units permitted in Grays Harbor County in 2024 (17 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $795 of loan paydown is wiped out by about $3k 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 88 days — a 6% lower offer ($108k) is reasonable based on typical stale-listing flexibility.

Recommended offer $108,100 (6.0% below list)

Questions for the listing agent

1. It's been on market 88 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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 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: 1.05% ✓
• Cap rate: 8.74%
• Cash-on-cash: 8.75%
• DSCR: 1.39
• GRM: 7.9

CMA / ARV

• ARV (median comp): $245,998
• List price: $115,000
• Delta: -53.25%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1 Fisher Rd	0.62mi	3/2.0 (+1)	1,080 (+10%)	8mo	$245,000	$227	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: -3.1%
• Equity multiple: 0.88×
• Total profit: $-3,716
• Equity at exit: $17,147

10-year hold

• IRR: 6.6%
• Equity multiple: 1.49×
• Total profit: $15,896
• Equity at exit: $9,943

Cash invested: $32,200 (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 98568

• Home prices YoY: -22.0%
• Active inventory: 12
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $1,208 medium
• Mortgage (P&I): −$603
• Tax from tax record: −$68 /mo · $820/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$254
• Net cashflow: $235

Break-even live

Break-even rent $911

Max offer price $115,000

Occupancy floor 76%

Sensitivity live

Price	-10% $300	-5% $267	+0% $235	+5% $202	+10% $170
Rent	-10% $139	-5% $187	+0% $235	+5% $282	+10% $330
Rate	-1.0pp $293	-0.5pp $264	base $235	+0.5pp $205	+1.0pp $175

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-21
   days on market $115,000 Active 88 DOM
2. 2026-06-18
   days on market $115,000 Active 86 DOM
3. 2026-06-17
   days on market $115,000 Active 85 DOM
4. 2026-06-17
   price $115,000 Active 84 DOM
5. 2026-06-16
   days on market $120,000 Active 84 DOM
6. 2026-06-15
   days on market $120,000 Active 83 DOM
7. 2026-06-15
   days on market $120,000 Active 82 DOM
8. 2026-06-13
   days on market $120,000 Active 81 DOM
9. 2026-06-12
   days on market $120,000 Active 80 DOM
10. 2026-06-09
    days on market $120,000 Active 77 DOM
11. 2026-06-08
    days on market $120,000 Active 76 DOM
12. 2026-06-08
    days on market $120,000 Active 75 DOM
13. 2026-06-05
    days on market $120,000 Active 73 DOM
14. 2026-06-03
    days on market $120,000 Active 71 DOM
15. 2026-06-02
    days on market $120,000 Active 70 DOM
16. 2026-06-01
    days on market $120,000 Active 69 DOM
17. 2026-05-31
    days on market $120,000 Active 68 DOM
18. 2026-05-13
    price $120,000
19. 2026-04-09
    price $130,000
20. 2026-03-24
    listed $150,000 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: $820 · $68/mo
• Projected year-2 tax: $1,127 · $94/mo
• Expected delta: +$307/yr (+$26/mo · 37.4%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥89°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 6/10 Major 6 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,492
• − Mortgage interest: −$6,442
• − Property taxes: −$820
• − Insurance: −$575
• − Repairs & maintenance: −$1,159
• − Management: −$1,159
• − Depreciation: −$3,345
• Taxable income: $990
• Est. tax owed @ 24.0%: −$238
• After-tax cash flow: $2,578/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: Oakville School District
• NCES district ID: 5306000
• Math proficiency: 15% ▼ -5.00%
• Reading proficiency: 30% ▼ -10.00%
• Median HH income: $46,962
• Composite: 22.81/100
• National rank: #13405
• State rank: #278 of 291 in WA

Livability — Oakville

• Score: 61/100
• State rank: #426
• US rank: #17134

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Oakville, WA
• Population (ZIP): 2,956

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 (68%)
• Race & ethnicity: White 68% Native American 17% Two or more races 11% Hispanic / Latino 7%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Portuguese 6% Slovak 2% Lithuanian 2%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Spanish 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: ▼ -63.95%
• Current HPI: 226.9662
• 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

-20.0% since first listed

3 events — show timeline

• 2026-05-13 Price Changed $120,000 NWMLS as Distributed by MLS Grid
• 2026-04-09 Price Changed $130,000 NWMLS as Distributed by MLS Grid
• 2026-03-24 Listed $150,000 NWMLS as Distributed by MLS Grid

Property tax history

+9.6%/yr

Latest (2026): $820 · -3.1% YoY. Source: county tax records.