921 S 3rd Ave #15 · Sequim, WA 98382

$72,000

2 bd · 2.0 ba · 800 sqft · Manufactured public records · 7 Days on market

Built 1971 Est $70k · at est.

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Why this score? — see what drove the B- 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +5.9/15.0
• Schools +5.3/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Hurry to take a look at this well maintained, move in ready cozy home in Hide-Away park. Home is located at the end of the private road adjacent to Green belt. Nicely landscaped for easy maintenance. Pride of ownership really shows in this home, with new flooring throughout, new microwave and stove, new toilets, sink, vanity & tile in bathrooms. The exterior features sheds for extra storage, plenty of room to enjoy a cup of coffee or BBQ with private side yard, spacious covered parking and cement driveway.

Key facts

• Private lot
• Larger yard
• Carport

Tags

• CORNER LOT
• LARGER YARD
• TWO SHEDS
• CARPORT
• PRIVATE LOT
• BACKS UP TO GREENBELT

Property features AI

Finance

• Other: Calculated building area: 880 square feet; Buyer brokerage compensation: 2%
• Financial info: Listing terms: Cash
• HOA & community: Located in The Hideaway park (senior community); Park approved for sale; Approximately 42 homes in the park; Pets allowed (cats OK, dogs OK, see remarks); Land lease: $550/month

Exterior

• Parking: Carport
• Utilities: Electric energy; Community water; Clallam County PUD power; Sewer: not specified
• Home design: Manufactured double-wide home; Single-story; Brookwood model; Manufactured home remains in place; Good condition
• Construction: Metal/vinyl construction; Flat torch-down roof; Tie-down foundation; Manufactured house
• Exterior features: Metal/vinyl exterior; Metal skirting; Adjacent to public land; Corner lot; Cul-de-sac; Dead-end street; Paved; Secluded; Has view; Two storage units on lot

Interior

• Kitchen: Microwave; Refrigerator; Stove/Range
• Bedrooms: 2 bedrooms
• Flooring: Laminate; Vinyl; Carpet
• Bathrooms: One three-quarter bath; One half bath; One shower
• Heating & cooling: Ductless heating; Cooling system
• Interior features: Water heater (electric, located outside); Ceiling fan(s); Double pane windows; Walk-in closet; Tie-down foundation
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $72k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $72k).
• Cap rate 24.1% vs local median 3.1% in Sequim — 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 70/100 on livability (#245 in WA) — a middle-class / working-renter tenant base. Strengths: health & safety A+, crime B, cost of living B; Watch: employment D, amenities D-, commute F.
• Sequim School District (town): math 55% / reading 66% proficiency, ranked #64 of 291 in WA (top 22%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 605 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).
• This rent runs 31% of the median local income ($74k/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 $498 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 12y 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 $46k; list at $72k implies a 58% gain — meaningful room to come down on a strong offer.

Recommended offer $72,000

Questions for the listing agent

1. Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 2.67% ✓
• Cap rate: 24.10%
• Cash-on-cash: 63.59%
• DSCR: 3.83
• GRM: 3.1

CMA / ARV

• ARV (on-the-fly): $69,600
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
921 S Third Ave #31	0.00mi	2/1.0	800 (0%)	16mo	$56,000	$70	83
921 S Third Ave #07	0.00mi	2/1.0	720 (-10%)	7mo	$62,500	$87	74
610 W Spruce St #102	0.72mi	2/1.0	800 (0%)	6mo	$67,000	$84	58
201 N 5th St #35	0.64mi	2/1.0	784 (-2%)	12mo	$67,000	$85	53
610 W Spruce #109	0.72mi	2/1.0	800 (0%)	12mo	$92,500	$116	52
11 Juniper Mobile Ests	0.73mi	2/1.0	864 (+8%)	6mo	$74,900	$87	44

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: 62.6%
• Equity multiple: 3.80×
• Total profit: $56,372
• Equity at exit: $10,735

10-year hold

• IRR: 67.1%
• Equity multiple: 7.78×
• Total profit: $136,700
• Equity at exit: $6,225

Cash invested: $20,160 (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 98382

• Active inventory: 605
• Price-to-rent: 3.1×

Monthly cashflow live

• Estimated rent: $1,923 medium
• Mortgage (P&I): −$378
• Tax from tax record: −$43 /mo · $517/yr
• Insurance: −$30
• HOA: −$0
• Vacancy / Maint / Mgmt: −$404
• Net cashflow: $1,068

Break-even live

Break-even rent $570

Max offer price $72,000

Occupancy floor 39%

Sensitivity live

Price	-10% $1,109	-5% $1,089	+0% $1,068	+5% $1,048	+10% $1,028
Rent	-10% $916	-5% $992	+0% $1,068	+5% $1,144	+10% $1,220
Rate	-1.0pp $1,105	-0.5pp $1,087	base $1,068	+0.5pp $1,050	+1.0pp $1,031

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: $18,000
• Closing costs: $2,160
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1045 S 3rd Ave Unit 33 Sequim, WA	2.0	1.5	956	$2,100	$2.20	44d	1	0.14mi

Listing history 7 events

1. 2026-06-19
   days on market $72,000 Active 7 DOM
2. 2026-06-18
   days on market $72,000 Active 6 DOM
3. 2026-06-17
   days on market $72,000 Active 5 DOM
4. 2026-06-16
   days on market $72,000 Active 4 DOM
5. 2026-06-15
   days on market $72,000 Active 3 DOM
6. 2026-06-13
   remarks 695-char remark
7. 2026-06-13
   listed $72,000 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: $517 · $43/mo
• Projected year-2 tax: $706 · $59/mo
• Expected delta: +$189/yr (+$16/mo · 36.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥83°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 6/10 Major 7 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,072
• − Mortgage interest: −$4,033
• − Property taxes: −$517
• − Insurance: −$360
• − Repairs & maintenance: −$1,846
• − Management: −$1,846
• − Depreciation: −$2,095
• Taxable income: $12,376
• Est. tax owed @ 24.0%: −$2,970
• After-tax cash flow: $9,849/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: Sequim School District
• NCES district ID: 5307830
• Math proficiency: 55% ▼ -1.00%
• Reading proficiency: 66% ▲ 1.00%
• Median HH income: $46,969
• Composite: 52.77/100
• National rank: #3312
• State rank: #64 of 291 in WA

Livability — Sequim

• Score: 70/100
• State rank: #245
• US rank: #7845

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sequim, WA
• County: Clallam County · 31,052 people
• City population: 31,052
• Metro: Port Angeles, WA
• Population (ZIP): 31,052
• Household income: $74,189
• Rent vs Own: 18.9% rent · 81.1% own
• Severe rent burden: 666.0

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 (85%)
• Race & ethnicity: White 85% Two or more races 7% Hispanic / Latino 4% Asian 2%
• Common ancestry: Portuguese 5% Slovak 5% Italian 4%
• Foreign-born: 6% · Canada
• Languages at home: 95% English-only · Spanish 2% German/W. Germanic 1% Other Indo-European 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: ▼ -225.89%
• Current HPI: 181.4372
• Rent YoY: —
• Metro: Port Angeles, 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

+260.0% since first listed

4 events — show timeline

• 2026-06-12 Listed $72,000 NWMLS as Distributed by MLS Grid
• 2017-11-30 Sold (MLS) $45,500 OLS
• 2014-05-23 Sold (MLS) $19,999 NWMLS as Distributed by MLS Grid
• 2014-05-05 Listed $19,999 NWMLS as Distributed by MLS Grid

Property tax history

+14.0%/yr

Latest (2026): $517 · +15.4% YoY. Source: county tax records.