1399 Ocean Shores Blvd SW Unit 3N - A · Ocean Shores, WA 98569

$8,500

2 bd · 2.0 ba · 1,100 sqft · Condo · 99 Days on market

Built 1985 $8/sqft · 96% below area $245/mo HOA · 15% of rent

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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).

• Cash flow +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +3.4/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Oceanfront deeded timeshare condo unit with a beautiful jetty and ocean view. You have fractional ownership of one week. This unit faces north with expansive views of the ocean & surf. Located west of Ocean Shores Blvd SW, this fully furnished condo features vaulted wood ceilings, 2 bedrooms, 2 bathrooms, and 1,100 sq. ft. of living space. Enjoy a comfortable layout with living/dining area, a well-equipped kitchen, a breakfast bar, and a slider that opens to a private deck with primary bedroom access. The main bedroom includes a king-size bed and an ocean-facing view, while the second bedroom has two queen beds. Thisunit shares a hot tub with the other units on the North side of the b

Key facts

• Oceanfront
• Private deck
• Ocean view

Tags

• OCEANFRONT
• OCEAN VIEW
• PRIVATE DECK
• COMMUNITY CLUB AMENITIES

🏷️ Possibly a rental listed for sale. The $8,500 price doesn't fit this home's estimated sale value (~$232,404) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $8k.

Deal economics

• At list price, monthly cash flow is $919 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $8k).
• Recommended offer: $8k (9.0% below list) — sets the bar for market timing.
• Cap rate 145.4% vs local median 3.1% in Ocean Shores — 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 62/100 on livability (#424 in WA) — a middle-class / working-renter tenant base. Strengths: housing A; Watch: schools C-, crime C-, health & safety C-.
• North Beach School District (rural): math 32% / reading 44% proficiency, ranked #236 of 291 in WA (top 81%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 63% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 653 active listings in the ZIP; 297 units permitted in Grays Harbor County in 2024 (17 in 5+ unit buildings).
• This rent runs 34% of the median local income ($58k/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 $59 of loan paydown is wiped out by about $255 of value loss. Plan a longer hold.
• Grays Harbor County population projected at -24% 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 $2k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 99 days — a 9% lower offer ($8k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $7,735 (9.0% below list)

Questions for the listing agent

1. It's been on market 99 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 19.20% ✓
• Cap rate: 145.40%
• Cash-on-cash: 496.82%
• DSCR: 23.11
• GRM: 0.4

CMA / ARV

• ARV (median comp): $232,404
• List price: $8,500
• Delta: -96.34%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: —
• Equity multiple: 25.10×
• Total profit: $57,364
• Equity at exit: $1,267

10-year hold

• IRR: —
• Equity multiple: 54.02×
• Total profit: $126,189
• Equity at exit: $735

Cash invested: $2,380 (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 98569

• Home prices YoY: -3.4%
• Active inventory: 653
• Price-to-rent: 0.4×

Monthly cashflow live

• Estimated rent: $1,632 medium
• Mortgage (P&I): −$45
• Tax est. 1.5%: −$11 /mo · $128/yr
• Insurance: −$4
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$245
• Vacancy / Maint / Mgmt: −$343
• Net cashflow: $919

Break-even live

Break-even rent $469

Max offer price $8,500

Occupancy floor 39%

Sensitivity live

Price	-10% $925	-5% $922	+0% $919	+5% $916	+10% $913
Rent	-10% $790	-5% $854	+0% $919	+5% $983	+10% $1,048
Rate	-1.0pp $923	-0.5pp $921	base $919	+0.5pp $917	+1.0pp $914

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: $2,125
• Closing costs: $255
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $245 · $2,940/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 17 events

1. 2026-06-19
   days on market $8,500 Active 99 DOM
2. 2026-06-18
   days on market $8,500 Active 98 DOM
3. 2026-06-17
   days on market $8,500 Active 97 DOM
4. 2026-06-16
   days on market $8,500 Active 96 DOM
5. 2026-06-15
   days on market $8,500 Active 95 DOM
6. 2026-06-14
   days on market $8,500 Active 93 DOM
7. 2026-06-12
   days on market $8,500 Active 92 DOM
8. 2026-06-09
   days on market $8,500 Active 89 DOM
9. 2026-06-08
   days on market $8,500 Active 88 DOM
10. 2026-06-07
    days on market $8,500 Active 87 DOM
11. 2026-06-05
    days on market $8,500 Active 84 DOM
12. 2026-06-03
    days on market $8,500 Active 83 DOM
13. 2026-06-02
    days on market $8,500 Active 82 DOM
14. 2026-06-01
    days on market $8,500 Active 81 DOM
15. 2026-05-31
    days on market $8,500 Active 80 DOM
16. 2026-05-30
    days on market $8,500 Active 79 DOM
17. 2026-02-17
    listed $8,500 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 1/10 Low 6 d/yr ≥72°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: $19,581
• − Mortgage interest: −$476
• − Property taxes: −$128
• − Insurance: −$840
• − Repairs & maintenance: −$1,566
• − Management: −$1,566
• − HOA: −$2,940
• − Depreciation: −$247
• Taxable income: $11,817
• Est. tax owed @ 24.0%: −$2,836
• After-tax cash flow: $8,191/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: North Beach School District
• NCES district ID: 5305700
• Math proficiency: 32% ▼ -4.00%
• Reading proficiency: 44% ▬ 0.00%
• Median HH income: $40,966
• Composite: 34.46/100
• National rank: #10153
• State rank: #236 of 291 in WA

Livability — Ocean Shores

• Score: 62/100
• State rank: #424
• US rank: #16852

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ocean Shores, WA
• County: Grays Harbor County · 44,693 people
• City population: 7,187
• Metro: Aberdeen, WA
• Population (ZIP): 7,489
• Household income: $58,378
• Rent vs Own: 17.0% rent · 83.0% own
• Severe rent burden: 172.0

Population outlook (Grays Harbor County) Hauer SSP2

• Today (2025): 66,443 people
• By 2030: 63,255 · -4.8%
• By 2040: 56,466 · -15.0%
• By 2050: 50,516 · -24.0%
• By 2075: 39,296 · -40.9%
• By 2100: 31,142 · -53.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Two or more races 5% Hispanic / Latino 4% Asian 3% Native American 3%
• Common ancestry: Portuguese 8% Iranian 5% Lithuanian 4%
• Foreign-born: 5% · Canada
• Languages at home: 92% English-only · Spanish 3% Tagalog/Filipino 2% German/W. Germanic 2%

Political lean MEDSL · Grays Harbor

• 2024 margin: Lean R (+6.0) · D 45.6% · R 51.6% · Other 2.8%
• 2008→2024 swing: -20.6pp toward R · 2008: 14.6pp · 2024: -6.0pp
• All cycles: 2024: R+6.0 2020: R+6.6 2016: R+7.1 2012: D+14.0 2008: D+14.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -13.33%
• Current HPI: 380.05
• Rent YoY: —
• Metro: Aberdeen, 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

1 event — show timeline

• 2026-02-17 Listed $8,500 NWMLS as Distributed by MLS Grid