27006 RIDGE Ave · Ocean Park, WA 98640

$199,000

1 bd · 1.0 ba · 1,120 sqft · SingleFamily public records · 171 Days on market

Built 1969 4,792 sqft lot $178/sqft · 39% below area Est $325k · 39% under ↓ 33% since listing

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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 +27.2/30.0
• ARV discount +15.0/15.0
• DSCR +9.5/10.0
• 1% rule +6.5/10.0
• Schools +3.7/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

CUTE LITLE LOFT HOME. 1 FULL BATH. LARGE KITCHEN. LARGE BACK YARD. VACANT. BATHROOM IS BEING REMODLED. VACANT CALL SHOWTIME FOR APPOINTMENT. . .

Key facts

• Large kitchen
• Large back yard
• Lot next to the home

Tags

• LARGE KITCHEN
• LARGE BACK YARD
• LOT NEXT TO THE HOME

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $199k.

Deal economics

• At list price, monthly cash flow is $570 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $199k).
• Recommended offer: $175k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.7% vs local median 4.2% 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: 311 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $56k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 171 days — a 12% lower offer ($175k) is reasonable based on typical stale-listing flexibility.

Recommended offer $175,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 171 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1969 — 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 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?
6. 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.
7. 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.
8. 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: 1.15% ✓
• Cap rate: 9.73%
• Cash-on-cash: 12.27%
• DSCR: 1.55
• GRM: 7.2

CMA / ARV

• ARV (median comp): $324,711
• List price: $199,000
• Delta: -38.71%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1114 273rd Pl	0.23mi	2/1.0 (+1)	1,152 (+3%)	2mo	$275,000	$239	78
26711 Ridge Ave	0.14mi	1/1.0	988 (-12%)	9mo	$275,000	$278	66
1111 265th Pl	0.43mi	1/0.5	1,124 (+0%)	22mo	$600,000	$534	59
26212 V Ln	0.49mi	2/1.0 (+1)	1,039 (-7%)	2mo	$320,000	$308	58
1305 269th Pl	0.15mi	1/1.0	960 (-14%)	14mo	$255,000	$266	58
27501 U St	0.29mi	2/1.0 (+1)	960 (-14%)	6mo	$225,000	$234	52
27418 V St	0.34mi	1/1.0	952 (-15%)	9mo	$225,000	$236	52
27510 X Ln	0.47mi	2/2.0 (+1)	961 (-14%)	10mo	$330,000	$343	37

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: 1.9%
• Equity multiple: 1.07×
• Total profit: $3,999
• Equity at exit: $29,672

10-year hold

• IRR: 11.5%
• Equity multiple: 1.90×
• Total profit: $50,014
• Equity at exit: $17,206

Cash invested: $55,720 (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 98640

• Home prices YoY: -26.7%
• Active inventory: 311
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $2,287 medium
• Mortgage (P&I): −$1,044
• Tax from tax record: −$111 /mo · $1,329/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$480
• Net cashflow: $570

Break-even live

Break-even rent $1,566

Max offer price $199,000

Occupancy floor 70%

Sensitivity live

Price	-10% $683	-5% $626	+0% $570	+5% $514	+10% $457
Rent	-10% $389	-5% $480	+0% $570	+5% $660	+10% $751
Rate	-1.0pp $670	-0.5pp $620	base $570	+0.5pp $518	+1.0pp $466

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
29014 S Ln Ocean Park, WA	2.0	1.0	924	$1,700	$1.84	44d	1	1.04mi
24904 J Pl Ocean Park, WA	2.0	1.0	900	$2,900	$3.22	44d	1	1.06mi

Listing history 17 events

1. 2026-06-18
   days on market $199,000 Active 171 DOM
2. 2026-06-17
   days on market $199,000 Active 170 DOM
3. 2026-06-16
   days on market $199,000 Active 169 DOM
4. 2026-06-15
   days on market $199,000 Active 168 DOM
5. 2026-06-15
   days on market $199,000 Active 167 DOM
6. 2026-06-13
   days on market $199,000 Active 166 DOM
7. 2026-06-12
   days on market $199,000 Active 165 DOM
8. 2026-06-09
   days on market $199,000 Active 162 DOM
9. 2026-06-08
   days on market $199,000 Active 161 DOM
10. 2026-06-08
    days on market $199,000 Active 160 DOM
11. 2026-06-07
    days on market $199,000 Active 159 DOM
12. 2026-06-03
    days on market $199,000 Active 156 DOM
13. 2026-06-02
    days on market $199,000 Active 155 DOM
14. 2026-06-01
    days on market $199,000 Active 154 DOM
15. 2026-05-31
    days on market $199,000 Active 153 DOM
16. 2026-03-28
    price $199,000
17. 2025-12-29
    listed $298,000 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: $1,329 · $111/mo
• Projected year-2 tax: $1,950 · $163/mo
• Expected delta: +$622/yr (+$52/mo · 46.8%)

ⓘ 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 · 16 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: $27,450
• − Mortgage interest: −$11,147
• − Property taxes: −$1,329
• − Insurance: −$995
• − Repairs & maintenance: −$2,196
• − Management: −$2,196
• − Depreciation: −$5,789
• Taxable income: $3,798
• Est. tax owed @ 24.0%: −$911
• After-tax cash flow: $5,927/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

• Census place: Ocean Park, WA
• 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

-33.2% since first listed

2 events — show timeline

• 2026-03-28 Price Changed $199,000 NWMLS as Distributed by MLS Grid
• 2025-12-29 Listed $298,000 NWMLS as Distributed by MLS Grid

Property tax history

+3.6%/yr

Latest (2026): $1,329 · -3.1% YoY. Source: county tax records.