307 Pt Brown Ave SW · Ocean Shores, WA 98569

$149,000

2 bd · 1.0 ba · 928 sqft · SingleFamily public records · 16 Days on market

Built 1968 7,700 sqft lot $18/mo HOA · 1% of rent

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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 +28.4/30.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +7.2/10.0
• 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

Listing remarks

FIXER INVESTMENT OPPORTUNITY! Classic Wood Ceilings through-out this 2 BD, 1 BA, 928 sq. ft. 1-story home. Enter into the Bonus Room with vaulted ceiling. Separate Living Room and Kitchen area. This property fronts both Pt Brown Ave and Dorado St, and has a pull-thru driveway from both streets. Fix-up this home and enjoy living by the Beach. City water and sewer. In the Community Club. Estate Sale ~ No Form 17. SOLD "AS IS" ~ CASH ONLY. Buyer to verify all information. Offer Review Date is June 10th (or sooner).

Key facts

• Pull-thru driveway
• Vaulted ceiling
• Bonus room

Tags

• CLASSIC WOOD CEILINGS
• BONUS ROOM
• VAULTED CEILING
• PULL-THRU DRIVEWAY

Property features AI

Finance

• Financial info: Listing terms: Cash
• HOA & community: Has HOA: Ocean Shores Community Club; Annual association fee $215 (includes: see remarks)

Exterior

• Parking: Driveway
• Utilities: Public water (City of Ocean Shores); Sewer connected (City of Ocean Shores); Electric power (GH PUD); Electric energy source; Electric water heater
• Home design: Single-family residence; One story; Main level entry; Built on lot; Has view; Fixer condition
• Construction: Wood construction; Composition and flat roof; Pillar/Post/Pier foundation; Effective year built 1968; House structure
• Exterior features: Wood exterior; Wood products; Deck; Level topography; Brush vegetation; Paved lot features

Interior

• Kitchen: Refrigerator; Stove/Range
• Bedrooms: 2 bedrooms (both on the main level)
• Flooring: See remarks
• Bathrooms: 1 full bathroom with bathtub and shower
• Heating & cooling: Baseboard heating; Wall furnace; No cooling
• Interior features: Ceiling fan(s); Vaulted ceiling(s); Water heater located in kitchen
• Laundry & utility: Water heater (electric) in kitchen

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $149k.

Deal economics

• At list price, monthly cash flow is $483 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $149k).
• Recommended offer: $147k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.2% 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; 2 comparable units currently listed for rent nearby; 297 units permitted in Grays Harbor County in 2024 (17 in 5+ unit buildings).
• This rent runs 38% of the median local income ($58k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $42k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($147k) is reasonable based on typical stale-listing flexibility.

Recommended offer $146,765 (1.5% below list)

Questions for the listing agent

1. Built in 1968 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.22% ✓
• Cap rate: 10.19%
• Cash-on-cash: 13.90%
• DSCR: 1.62
• GRM: 6.8

CMA / ARV

• ARV (on-the-fly): $309,024
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
167 Polaris Blvd SW	0.18mi	2/1.0	962 (+4%)	2mo	$300,000	$312	84
335 Dorado Ave SW	0.06mi	2/1.0	880 (-5%)	12mo	$300,000	$341	79
406 SW Ocean Shores Blvd	0.37mi	2/1.0	952 (+3%)	7mo	$150,001	$158	73
345 Mount Olympus Ave SE	0.25mi	2/1.0	834 (-10%)	4mo	$265,000	$318	68
120 Auriga Ave SW	0.36mi	2/2.0	962 (+4%)	8mo	$319,900	$333	66
435 Lotloh St SE	0.39mi	1/1.0 (-1)	996 (+7%)	10mo	$255,000	$256	56
125 Ocean Shores Blvd SW	0.41mi	2/2.0	1,008 (+9%)	9mo	$329,000	$326	55
121 Tahola St SE	0.66mi	2/1.0	960 (+3%)	10mo	$330,000	$344	55
127 Point Brown Ave NW	0.46mi	2/1.0	813 (-12%)	10mo	$312,000	$384	49
156 Dolphin Ave NE	0.69mi	2/1.0	821 (-12%)	6mo	$389,000	$474	44
254 Wishkah St SW	0.62mi	3/2.0 (+1)	1,008 (+9%)	10mo	$315,000	$313	40
542 Ocean Shores Blvd SW	0.68mi	2/1.0	816 (-12%)	15mo	$425,000	$521	35

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: 4.1%
• Equity multiple: 1.16×
• Total profit: $6,621
• Equity at exit: $22,216

10-year hold

• IRR: 13.6%
• Equity multiple: 2.09×
• Total profit: $45,334
• Equity at exit: $12,883

Cash invested: $41,720 (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 98569

• Home prices YoY: -3.4%
• Active inventory: 653
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $1,825 medium
• Mortgage (P&I): −$781
• Tax from tax record: −$97 /mo · $1,159/yr
• Insurance: −$62
• HOA: −$18
• Vacancy / Maint / Mgmt: −$383
• Net cashflow: $483

Break-even live

Break-even rent $1,213

Max offer price $149,000

Occupancy floor 69%

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: $37,250
• Closing costs: $4,470
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
230 Point Brown Ave SE Ocean Shores, WA	2.0	1.0	840	$2,100	$2.50	43d	1	0.13mi
569 Sunset Ave NE Unit A Ocean Shores, WA	2.0	1.5	1001	$1,500	$1.50	43d	1	1.47mi

HOA detail

• Monthly dues: $18 · $216/yr
• Likely covers: watersewer

Listing history 12 events

1. 2026-06-19
   days on market $149,000 Active 16 DOM
2. 2026-06-18
   days on market $149,000 Active 15 DOM
3. 2026-06-17
   days on market $149,000 Active 14 DOM
4. 2026-06-16
   days on market $149,000 Active 13 DOM
5. 2026-06-15
   days on market $149,000 Active 12 DOM
6. 2026-06-14
   days on market $149,000 Active 10 DOM
7. 2026-06-12
   days on market $149,000 Active 9 DOM
8. 2026-06-09
   days on market $149,000 Active 6 DOM
9. 2026-06-08
   days on market $149,000 Active 5 DOM
10. 2026-06-07
    days on market $149,000 Active 4 DOM
11. 2026-06-05
    remarks 517-char remark
12. 2026-06-05
    listed $149,000 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: $1,159 · $97/mo
• Projected year-2 tax: $1,460 · $122/mo
• Expected delta: +$301/yr (+$25/mo · 25.9%)

ⓘ 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 3/10 Moderate
• 🌡 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: $21,894
• − Mortgage interest: −$8,346
• − Property taxes: −$1,159
• − Insurance: −$745
• − Repairs & maintenance: −$1,752
• − Management: −$1,752
• − HOA: −$216
• − Depreciation: −$4,335
• Taxable income: $3,590
• Est. tax owed @ 24.0%: −$862
• After-tax cash flow: $4,938/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

1 event — show timeline

• 2026-06-03 Listed $149,000 NWMLS as Distributed by MLS Grid

Property tax history

+2.4%/yr

Latest (2026): $1,159 · +2.3% YoY. Source: county tax records.