1101 E Second St · Port Angeles, WA 98362

$224,950

1 bd · 1.0 ba · 1,358 sqft · SingleFamily public records · 77 Days on market

Built 1962 0.43 ac lot $166/sqft · 33% below area Est $336k · 33% 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 +19.2/30.0
• ARV discount +15.0/15.0
• DSCR +6.1/10.0
• Schools +5.2/10.0
• 1% rule +4.3/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Port Angeles Fixer-Upper-This 1-bed, 1-bath cottage is a high-potential "basecamp" investment. Located in the city center, it offers a rare walkable lifestyle near the Black Ball Ferry, downtown shops, and the waterfront. High equity potential. 20 mins to Olympic National Park; steps from the Strait of Juan de Fuca. Ideal for a chic short-term rental or a minimalist long-term lease. A prime opportunity to trade sweat equity for a central slice of the Olympic Peninsula.

Key facts

• 0.43 acre lot
• Built 1962
• Listed 77 days

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $225k.

Deal economics

• At list price, monthly cash flow is $244 ($3k/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 $210k (6.6% below list).
• Recommended offer: $210k (6.6% below list) — sets the bar for 1% rule.
• Cap rate 7.6% vs local median 2.8% in Port Angeles — 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 (#138 in WA, #2,729 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, health & safety A+; Watch: employment C-, crime F.
• Port Angeles School District (town): math 55% / reading 65% proficiency, ranked #70 of 291 in WA (top 24%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Roosevelt Elementary School (406 students, 64% FRL); Stevens Middle School (492 students, 63% FRL); Port Angeles High School (989 students, 57% FRL) — zoned schools average 61% FRL vs 46% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 273 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 166 units permitted in Clallam 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.
• Clallam County population projected at +5% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 77 days — a 6% lower offer ($211k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Recommended offer $210,000 (6.6% below list)

Questions for the listing agent

1. It's been on market 77 days. Have you received any prior offers? Is the seller open to a 7% concession, seller financing, or rate buy-down credit?
2. Built in 1962 — 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 B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
6. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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 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: 0.93% ✗
• Cap rate: 7.60%
• Cash-on-cash: 4.66%
• DSCR: 1.21
• GRM: 8.9

CMA / ARV

• ARV (median comp): $336,488
• List price: $224,950
• Delta: -33.15%
• 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
817 E 7th St	0.44mi	2/2.0 (+1)	1,360 (+0%)	6mo	$150,000	$110	65
1034 E Seventh St	0.38mi	1/1.0	1,350 (-1%)	22mo	$335,000	$248	63
1825 E 3rd St	0.72mi	2/2.0 (+1)	1,360 (+0%)	11mo	$436,500	$321	48
109 N Vine	0.61mi	2/1.5 (+1)	1,264 (-7%)	13mo	$396,500	$314	43
919 S Albert St	0.74mi	2/1.0 (+1)	1,211 (-11%)	10mo	$310,000	$256	34
1125 Highland Ave	0.69mi	2/2.0 (+1)	1,532 (+13%)	23mo	$444,000	$290	18

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: -9.1%
• Equity multiple: 0.67×
• Total profit: $-20,941
• Equity at exit: $33,541

10-year hold

• IRR: 0.4%
• Equity multiple: 1.03×
• Total profit: $1,586
• Equity at exit: $19,450

Cash invested: $62,986 (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 98362

• Active inventory: 273
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $2,100 medium
• Mortgage (P&I): −$1,180
• Tax from tax record: −$141 /mo · $1,695/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$441
• Net cashflow: $244

Break-even live

Break-even rent $1,791

Max offer price $224,950

Occupancy floor 83%

Sensitivity live

Price	-10% $372	-5% $308	+0% $244	+5% $181	+10% $117
Rent	-10% $78	-5% $161	+0% $244	+5% $327	+10% $410
Rate	-1.0pp $358	-0.5pp $302	base $244	+0.5pp $186	+1.0pp $127

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: $56,238
• Closing costs: $6,748
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1119 S Lincoln St Port Angeles, WA	2.0	1.0	1000	$2,100	$2.10	45d	1	1.12mi

Listing history 12 events

1. 2026-06-12
   statusdays on market $224,950 Pending 77 DOM
2. 2026-06-10
   status $224,950 Active Under Contract 75 DOM
3. 2026-06-09
   days on market $224,950 Active 75 DOM
4. 2026-06-08
   days on market $224,950 Active 74 DOM
5. 2026-06-08
   days on market $224,950 Active 73 DOM
6. 2026-06-07
   days on market $224,950 Active 72 DOM
7. 2026-06-03
   days on market $224,950 Active 69 DOM
8. 2026-06-02
   days on market $224,950 Active 68 DOM
9. 2026-06-01
   days on market $224,950 Active 67 DOM
10. 2026-05-31
    days on market $224,950 Active 66 DOM
11. 2026-03-26
    listed $224,950 Active 483-char remark

    Show marketing remark (483 chars)

    Port Angeles Fixer-Upper-This 1-bed, 1-bath cottage is a high-potential "basecamp" investment. Located in the city center, it offers a rare walkable lifestyle near the Black Ball Ferry, downtown shops, and the waterfront. High equity potential. 20 mins to Olympic National Park; steps from the Strait of Juan de Fuca. Ideal for a chic short-term rental or a minimalist long-term lease. A prime opportunity to trade sweat equity for a central slice of the Olympic Peninsula.

12. 2026-03-26
    listed $224,950 Active

    Show marketing remark (483 chars)

    Port Angeles Fixer-Upper-This 1-bed, 1-bath cottage is a high-potential "basecamp" investment. Located in the city center, it offers a rare walkable lifestyle near the Black Ball Ferry, downtown shops, and the waterfront. High equity potential. 20 mins to Olympic National Park; steps from the Strait of Juan de Fuca. Ideal for a chic short-term rental or a minimalist long-term lease. A prime opportunity to trade sweat equity for a central slice of the Olympic Peninsula.

ⓘ 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: $1,695 · $141/mo
• Projected year-2 tax: $2,205 · $184/mo
• Expected delta: +$510/yr (+$42/mo · 30.1%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 8 d/yr ≥81°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 6/10 Major 8 unhealthy d/yr today · 9 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,200
• − Mortgage interest: −$12,601
• − Property taxes: −$1,695
• − Insurance: −$1,125
• − Repairs & maintenance: −$2,016
• − Management: −$2,016
• − Depreciation: −$6,544
• Taxable loss: −$796
• Est. tax savings @ 24.0%: +$191
• After-tax cash flow: $3,124/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: Port Angeles School District
• NCES district ID: 5306820
• Math proficiency: 55% ▬ 0.00%
• Reading proficiency: 65% ▲ 1.00%
• Median HH income: $46,594
• Composite: 52.34/100
• National rank: #3432
• State rank: #70 of 291 in WA

Livability — Port Angeles

• Score: 78/100
• State rank: #138
• US rank: #2729

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Port Angeles, WA
• Population (ZIP): 23,907

Population outlook (Clallam County) Hauer SSP2

• Today (2025): 76,817 people
• By 2030: 78,177 · +1.8%
• By 2040: 79,795 · +3.9%
• By 2050: 80,890 · +5.3%
• By 2075: 83,933 · +9.3%
• By 2100: 82,141 · +6.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Two or more races 8% Hispanic / Latino 7% Native American 1% Asian 1%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Italian 6% Portuguese 6% Lithuanian 4%
• Foreign-born: 4% · Canada
• Languages at home: 95% English-only · Spanish 3% German/W. Germanic 1%

Political lean MEDSL · Clallam

• 2024 margin: Lean D (+7.9) · D 52.6% · R 44.7% · Other 2.7%
• 2008→2024 swing: +4.6pp toward D · 2008: 3.3pp · 2024: 7.9pp
• All cycles: 2024: D+7.9 2020: D+3.4 2016: R+1.6 2012: D+0.4 2008: D+3.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -340.90%
• Current HPI: 189.7112
• 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

+0.0% since first listed

2 events — show timeline

• 2026-03-26 Listed $224,950 NWMLS as Distributed by MLS Grid
• 2026-03-26 Listed $224,950 OLS

Property tax history

+0.3%/yr

Latest (2026): $1,695 · +18.5% YoY. Source: county tax records.