3408 239th Pl · Ocean Park, WA 98640

$185,000

2 bd · 1.0 ba · 500 sqft · Other · 128 Days on market

Built 1990 8,712 sqft lot $370/sqft · 19% below area Est $228k · 19% 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 +17.1/30.0
• ARV discount +15.0/15.0
• DSCR +5.3/10.0
• Schools +3.7/10.0
• Livability +3.6/5.0
• 1% rule +3.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Large double corner lot with full RV hookup and 12x12 structure in Ocean Park. Sleeping facilities are in structure along with kitchen and bathroom. Cute! Nicely landscaped. Kick back. Relax and Enjoy!

Key facts

• Firepit
• New septic
• Wood storage shed

Tags

• LARGE SLEEPING LOFT
• RV HOOKUP
• FIREPIT
• WOOD STORAGE SHED
• NEW SEPTIC

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $185k.

Deal economics

• At list price, monthly cash flow is $128 ($2k/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 $157k (15.0% below list).
• Recommended offer: $157k (15.0% below list) — sets the bar for 1% rule.
• Cap rate 7.1% vs local median 4.1% 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: 320 active listings in the ZIP; 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 $1k of loan paydown is wiped out by about $6k 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 128 days — a 12% lower offer ($163k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 19y 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 $88k; list at $185k implies a 110% gain — meaningful room to come down on a strong offer.

Recommended offer $157,165 (15.0% below list)

Questions for the listing agent

1. It's been on market 128 days. Have you received any prior offers? Is the seller open to a 15% 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: 0.85% ✗
• Cap rate: 7.12%
• Cash-on-cash: 2.96%
• DSCR: 1.13
• GRM: 9.8

CMA / ARV

• ARV (median comp): $227,936
• List price: $185,000
• Delta: -18.84%
• Verdict: UNDERPRICED
• Comps: 17 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -11.7%
• Equity multiple: 0.58×
• Total profit: $-21,905
• Equity at exit: $27,584

10-year hold

• IRR: -2.5%
• Equity multiple: 0.83×
• Total profit: $-8,895
• Equity at exit: $15,995

Cash invested: $51,800 (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: 320
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $1,572 medium
• Mortgage (P&I): −$970
• Tax from tax record: −$66 /mo · $797/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$330
• Net cashflow: $128

Break-even live

Break-even rent $1,410

Max offer price $185,000

Occupancy floor 87%

Sensitivity live

Price	-10% $233	-5% $180	+0% $128	+5% $76	+10% $23
Rent	-10% $4	-5% $66	+0% $128	+5% $190	+10% $252
Rate	-1.0pp $221	-0.5pp $175	base $128	+0.5pp $80	+1.0pp $31

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Listing history 30 events

1. 2026-06-21
   days on market $185,000 Active 128 DOM
2. 2026-06-18
   days on market $185,000 Active 126 DOM
3. 2026-06-17
   days on market $185,000 Active 125 DOM
4. 2026-06-16
   days on market $185,000 Active 124 DOM
5. 2026-06-15
   days on market $185,000 Active 123 DOM
6. 2026-06-15
   days on market $185,000 Active 122 DOM
7. 2026-06-13
   days on market $185,000 Active 121 DOM
8. 2026-06-12
   days on market $185,000 Active 120 DOM
9. 2026-06-09
   days on market $185,000 Active 117 DOM
10. 2026-06-08
    days on market $185,000 Active 116 DOM
11. 2026-06-08
    days on market $185,000 Active 115 DOM
12. 2026-06-07
    days on market $185,000 Active 114 DOM
13. 2026-06-03
    days on market $185,000 Active 111 DOM
14. 2026-06-02
    days on market $185,000 Active 110 DOM
15. 2026-06-01
    days on market $185,000 Active 109 DOM
16. 2026-05-31
    days on market $185,000 Active 108 DOM
17. 2026-02-12
    listed $185,000 Active
18. 2007-08-02
    soldstatus $88,000 201-char remark

    Show marketing remark (201 chars)

    Large double corner lot with full RV hookup and 12x12 structure in Ocean Park. Sleeping facilities are in structure along with kitchen and bathroom. Cute! Nicely landscaped. Kick back. Relax and Enjoy!

19. 2007-08-02
    soldstatus $88,000

    Show marketing remark (201 chars)

    Large double corner lot with full RV hookup and 12x12 structure in Ocean Park. Sleeping facilities are in structure along with kitchen and bathroom. Cute! Nicely landscaped. Kick back. Relax and Enjoy!

20. 2007-08-02
    historical

    Show marketing remark (201 chars)

    Large double corner lot with full RV hookup and 12x12 structure in Ocean Park. Sleeping facilities are in structure along with kitchen and bathroom. Cute! Nicely landscaped. Kick back. Relax and Enjoy!

21. 2007-08-02
    soldstatus $88,000

    Show marketing remark (201 chars)

    Large double corner lot with full RV hookup and 12x12 structure in Ocean Park. Sleeping facilities are in structure along with kitchen and bathroom. Cute! Nicely landscaped. Kick back. Relax and Enjoy!

22. 2007-07-20
    historical 201-char remark

    Show marketing remark (201 chars)

    Large double corner lot with full RV hookup and 12x12 structure in Ocean Park. Sleeping facilities are in structure along with kitchen and bathroom. Cute! Nicely landscaped. Kick back. Relax and Enjoy!

23. 2007-06-18
    listed $89,500 201-char remark

    Show marketing remark (201 chars)

    Large double corner lot with full RV hookup and 12x12 structure in Ocean Park. Sleeping facilities are in structure along with kitchen and bathroom. Cute! Nicely landscaped. Kick back. Relax and Enjoy!

24. 2007-06-18
    listed $89,500

    Show marketing remark (201 chars)

    Large double corner lot with full RV hookup and 12x12 structure in Ocean Park. Sleeping facilities are in structure along with kitchen and bathroom. Cute! Nicely landscaped. Kick back. Relax and Enjoy!

25. 2007-06-11
    soldstatus $75,000 201-char remark

    Show marketing remark (201 chars)

    Large double corner lot w/full RV hook-up & 12 x 12 structure in Ocean Park. Structure features sleeping loft, bathroom, kitchen area and sitting room. Property is pleasing with trees and shrubery.

26. 2007-06-11
    soldstatus $75,000

    Show marketing remark (201 chars)

    Large double corner lot w/full RV hook-up & 12 x 12 structure in Ocean Park. Structure features sleeping loft, bathroom, kitchen area and sitting room. Property is pleasing with trees and shrubery.

27. 2007-06-08
    soldstatus $75,000
28. 2007-05-29
    historical 201-char remark

    Show marketing remark (201 chars)

    Large double corner lot w/full RV hook-up & 12 x 12 structure in Ocean Park. Structure features sleeping loft, bathroom, kitchen area and sitting room. Property is pleasing with trees and shrubery.

29. 2007-05-23
    listed $75,000 201-char remark

    Show marketing remark (201 chars)

    Large double corner lot w/full RV hook-up & 12 x 12 structure in Ocean Park. Structure features sleeping loft, bathroom, kitchen area and sitting room. Property is pleasing with trees and shrubery.

30. 2007-05-23
    listed $75,000

    Show marketing remark (201 chars)

    Large double corner lot w/full RV hook-up & 12 x 12 structure in Ocean Park. Structure features sleeping loft, bathroom, kitchen area and sitting room. Property is pleasing with trees and shrubery.

ⓘ 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: $797 · $66/mo
• Projected year-2 tax: $1,813 · $151/mo
• Expected delta: +$1,016/yr (+$85/mo · 127.6%)

ⓘ 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 · 14 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: $18,860
• − Mortgage interest: −$10,363
• − Property taxes: −$797
• − Insurance: −$925
• − Repairs & maintenance: −$1,509
• − Management: −$1,509
• − Depreciation: −$5,382
• Taxable loss: −$1,624
• Est. tax savings @ 24.0%: +$390
• After-tax cash flow: $1,925/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

• 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

+146.7% since first listed

14 events — show timeline

• 2026-02-12 Listed $185,000 NWMLS as Distributed by MLS Grid
• 2007-08-02 Sold (Public Records) $88,000 Public Records
• 2007-08-02 Delisted — NWMLS as Distributed by MLS Grid
• 2007-08-02 Sold (MLS) $88,000 NWMLS as Distributed by MLS Grid
• 2007-08-02 Sold (MLS) $88,000 RMLS
• 2007-07-20 Delisted — RMLS
• 2007-06-18 Listed $89,500 NWMLS as Distributed by MLS Grid
• 2007-06-18 Listed $89,500 RMLS
• 2007-06-11 Sold (MLS) $75,000 NWMLS as Distributed by MLS Grid
• 2007-06-11 Sold (MLS) $75,000 RMLS
• 2007-06-08 Sold (Public Records) $75,000 Public Records
• 2007-05-29 Delisted — RMLS
• 2007-05-23 Listed $75,000 NWMLS as Distributed by MLS Grid
• 2007-05-23 Listed $75,000 RMLS

Property tax history

+4.0%/yr

Latest (2026): $797 · +0.6% YoY. Source: county tax records.