3634 Harper St · Clinton, WA 98236

$409,500

3 bd · 2.0 ba · 1,521 sqft · SingleFamily public records · 40 Days on market

Built 1977 7,662 sqft lot $269/sqft · 14% below area Est $476k · 14% under $47/mo HOA · 2% of rent ↓ 2% since listing

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Why this score? — see what drove the D 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).

• ARV discount +13.8/15.0
• Cash flow +9.8/30.0
• Schools +5.0/10.0
• Livability +2.9/5.0
• DSCR +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks

Opportunity awaits at 3634 Harper Street! Located in the desirable Scatchet Head community, this distinctive hexagon-style home offers character, flexibility, and potential throughout its 1,520 square feet. Inside you’ll find 2 bedrooms, 2 bathrooms, plus a bonus room ideal for an office, den, or creative space. Enter from the wraparound deck to the main level featuring hardwood floors and a cozy freestanding propane fireplace. The main-floor bedroom includes a lofted area that takes advantage of the soaring ceilings, creating extra space for sleeping, storage, or play. Downstairs offers an additional bedroom, full bathroom, laundry area, and generous storage spaces, including a large

Key facts

• Lofted area
• Wraparound deck
• Generator hookup

Tags

• HEXAGON STYLE HOME
• WRAPAROUND DECK
• FREESTANDING PROPANE FIREPLACE
• LOFTED AREA
• LARGE UNDER STAIR ROOM
• GENERATOR HOOKUP

Property features AI

Finance

• Financial info: Listing terms: Cash or Conventional
• HOA & community: Homeowners association with annual fee ($563) covering common area and road maintenance (see remarks); Community pool

Exterior

• Parking: Off-street parking
• Utilities: Electric and propane energy sources; Community water and shared well; Septic tank; Puget Sound Energy power
• Home design: Single-family residence; Two-story; Has view; Built on lot
• Construction: Wood construction; Composition roof; Poured concrete foundation; House structure
• Exterior features: Wood exterior; Deck; Patio; Outbuildings; Garden space; Community waterfront / private beach access; Level to partially sloped topography; Dead-end street, paved

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator; Stove/Range
• Bedrooms: 2 bedrooms total (1 on main level, 1 on lower level)
• Flooring: Hardwood; Laminate
• Bathrooms: 1 full bath; 1 three-quarter bath; 1 bathtub; 2 showers
• Heating & cooling: Stove / free-standing heating; No central air
• Interior features: Fireplace (gas)
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $410k.

Deal economics

• At list price, monthly cash flow is $-259 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $364k (11.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $300k (26.7% below list).
• Recommended offer: $300k (26.7% below list) — sets the bar for 1% rule.
• Cap rate 5.5% vs local median 1.7% in Clinton — 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 58/100 on livability (#500 in WA) — a working-class tenant base; expect higher turnover. Strengths: crime A+, employment B+, housing B; Watch: amenities F, commute F, cost of living F.
• South Whidbey School District (rural): math 47% / reading 64% proficiency, ranked #87 of 291 in WA (top 30%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: South Whidbey Elementary (571 students, 35% FRL); South Whidbey Middle (204 students, 41% FRL); South Whidbey High School (384 students, 30% FRL).
• Market conditions: 78 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 402 units permitted in Island County in 2024 (54 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k of value loss. Plan a longer hold.
• Island County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 40 days — a 3% lower offer ($397k) is reasonable based on typical stale-listing flexibility.

Recommended offer $300,000 (26.7% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 40 days. Have you received any prior offers? Is the seller open to a 27% concession, seller financing, or rate buy-down credit?
3. Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 0.73% ✗
• Cap rate: 5.53%
• Cash-on-cash: -2.71%
• DSCR: 0.88
• GRM: 11.4

CMA / ARV

• ARV (median comp): $476,493
• List price: $409,500
• Delta: -14.06%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3681 Harper St	0.12mi	2/2.0 (-1)	1,557 (+2%)	9mo	$595,000	$382	78
3635 Gamble St	0.19mi	3/1.5	1,483 (-2%)	12mo	$470,000	$317	75
7917 Decatur Ave	0.16mi	2/2.5 (-1)	1,466 (-4%)	8mo	$489,000	$334	73
7882 Blakely Ave	0.16mi	3/2.0	1,323 (-13%)	1mo	$485,000	$367	70
7884 Guemes Ave	0.16mi	2/2.0 (-1)	1,642 (+8%)	7mo	$460,000	$280	69
7913 San Juan Ave	0.09mi	2/2.0 (-1)	1,400 (-8%)	14mo	$470,000	$336	66
7840 Blakely Ave	0.27mi	2/2.0 (-1)	1,560 (+3%)	16mo	$650,000	$417	65
7806 Blakely Ave	0.34mi	3/2.5	1,621 (+7%)	9mo	$469,000	$289	64
3636 Gamble St	0.16mi	2/2.5 (-1)	1,648 (+8%)	11mo	$540,000	$328	63
3644 Fidalgo Dr	0.59mi	3/2.0	1,617 (+6%)	8mo	$780,000	$482	55
3819 Driftwood Dr	0.61mi	2/2.0 (-1)	1,613 (+6%)	8mo	$610,000	$378	50
8114 Pebble Ct	0.55mi	2/2.0 (-1)	1,306 (-14%)	21mo	$488,000	$374	28

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: -20.8%
• Equity multiple: 0.28×
• Total profit: $-82,945
• Equity at exit: $61,058

10-year hold

• IRR: -14.2%
• Equity multiple: 0.18×
• Total profit: $-93,804
• Equity at exit: $35,406

Cash invested: $114,660 (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 98236

• Active inventory: 78
• Price-to-rent: 11.4×

Monthly cashflow live

• Estimated rent: $3,000 medium
• Mortgage (P&I): −$2,147
• Tax from tax record: −$264 /mo · $3,170/yr
• Insurance: −$171
• HOA: −$47
• Vacancy / Maint / Mgmt: −$630
• Net cashflow: $-259

Break-even live

Break-even rent $3,328

Max offer price $363,707

Occupancy floor —

Sensitivity live

Price	-10% $-27	-5% $-143	+0% $-259	+5% $-375	+10% $-491
Rent	-10% $-496	-5% $-378	+0% $-259	+5% $-141	+10% $-22
Rate	-1.0pp $-53	-0.5pp $-155	base $-259	+0.5pp $-365	+1.0pp $-473

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: $102,375
• Closing costs: $12,285
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3656 Gamble St Clinton, WA	2.0	2.0	1934	$3,000	$1.55	45d	1	0.23mi

HOA detail

• Monthly dues: $47 · $564/yr

Listing history 18 events

1. 2026-06-22
   days on market $409,500 Active 40 DOM
2. 2026-06-19
   days on market $409,500 Active 38 DOM
3. 2026-06-18
   days on market $409,500 Active 37 DOM
4. 2026-06-17
   days on market $409,500 Active 36 DOM
5. 2026-06-16
   days on market $409,500 Active 35 DOM
6. 2026-06-15
   days on market $409,500 Active 34 DOM
7. 2026-06-14
   days on market $409,500 Active 32 DOM
8. 2026-06-13
   pricedays on market $409,500 Active 31 DOM
9. 2026-06-10
   days on market $420,000 Active 29 DOM
10. 2026-06-09
    days on market $420,000 Active 28 DOM
11. 2026-06-08
    days on market $420,000 Active 27 DOM
12. 2026-06-07
    days on market $420,000 Active 26 DOM
13. 2026-06-05
    days on market $420,000 Active 23 DOM
14. 2026-06-02
    days on market $420,000 Active 21 DOM
15. 2026-06-01
    days on market $420,000 Active 20 DOM
16. 2026-05-31
    days on market $420,000 Active 19 DOM
17. 2026-05-30
    days on market $420,000 Active 18 DOM
18. 2026-05-12
    listed $420,000 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: $3,170 · $264/mo
• Projected year-2 tax: $4,013 · $334/mo
• Expected delta: +$843/yr (+$70/mo · 26.6%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 2/10 Low 8 d/yr ≥85°F today · 18 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: $36,000
• − Mortgage interest: −$22,938
• − Property taxes: −$3,170
• − Insurance: −$2,048
• − Repairs & maintenance: −$2,880
• − Management: −$2,880
• − HOA: −$564
• − Depreciation: −$11,913
• Taxable loss: −$10,392
• Est. tax savings @ 24.0%: +$2,494
• After-tax cash flow: $-617/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: South Whidbey School District
• NCES district ID: 5308190
• Math proficiency: 47% ▲ 2.00%
• Reading proficiency: 64% ▲ 4.00%
• Median HH income: $62,601
• Composite: 50.31/100
• National rank: #4050
• State rank: #87 of 291 in WA

Livability — Clinton

• Score: 58/100
• State rank: #500
• US rank: #20708

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 7,052

Population outlook (Island County) Hauer SSP2

• Today (2025): 82,019 people
• By 2030: 81,329 · -0.8%
• By 2040: 78,552 · -4.2%
• By 2050: 77,042 · -6.1%
• By 2075: 80,799 · -1.5%
• By 2100: 84,451 · +3.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Two or more races 8% Hispanic / Latino 6% Asian 2% Black 1%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Lithuanian 5% Portuguese 5% Slovak 4%
• Foreign-born: 5% · Canada, China
• Languages at home: 96% English-only · Spanish 3% Russian/Polish/Slavic 1% Chinese 1%

Political lean MEDSL · Island

• 2024 margin: D (+16.6) · D 56.8% · R 40.3% · Other 2.9%
• 2008→2024 swing: +10.3pp toward D · 2008: 6.2pp · 2024: 16.6pp
• All cycles: 2024: D+16.6 2020: D+12.0 2016: D+5.9 2012: D+4.4 2008: D+6.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -324.14%
• Current HPI: 209.7494
• 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

-2.5% since first listed

2 events — show timeline

• 2026-06-11 Price Changed $409,500 NWMLS as Distributed by MLS Grid
• 2026-05-12 Listed $420,000 NWMLS as Distributed by MLS Grid

Property tax history

+4.8%/yr

Latest (2026): $3,170 · +12.3% YoY. Source: county tax records.