28103 R St · Ocean Park, WA 98640

$300,000

3 bd · 2.0 ba · 1,390 sqft · SingleFamily public records · 27 Days on market

Built 1961 4,791 sqft lot Est $381k · 21% under

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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 +15.0/15.0
• Cash flow +13.9/30.0
• DSCR +4.2/10.0
• Schools +3.7/10.0
• Livability +3.6/5.0
• 1% rule +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Nestled in the peaceful coastal community of Ocean Park, this beautifully designed single-story residence offers the perfect blend of comfort, warmth, and refined living. Featuring 3 bedrooms and 2 bathrooms, this thoughtfully crafted home welcomes you with an inviting atmosphere and timeless details throughout. The spacious primary suite serves as a private retreat, complete with its own well-appointed ensuite bathroom designed for relaxation and convenience. The heart of the home is the charming kitchen, where custom-style cabinetry elegantly frames the range and refrigerator, creating a cohesive and elevated aesthetic that brings both style and function together seamlessly. Adjacent to the kitchen, a bright and welcoming breakfast nook provides the ideal setting for slow mornings, casual dining, or gathering with guests. Flowing effortlessly through the home, the layout offers comfortable living spaces filled with natural light and a sense of easy sophistication. Every detail has been designed to create an environment that feels both cozy and upscale. Step outside to discover a backyard designed for enjoying the Pacific Northwest lifestyle year-round. A quaint detached shop offers flexible space for hobbies, storage, or creative pursuits, while the beautiful stone firepit creates the perfect focal point for evening conversations under the stars. Whether hosting gatherings or enjoying quiet coastal evenings, the outdoor space offers privacy, charm, and endless opportunity. An exceptional added opportunity awaits with the option to purchase the adjacent 10,000 square-foot buildable lot next door, complete with its own separate tax parcel. Seller is asking $60,000. Inquire for additional details and possibilities this rare offering provides. Located just moments from beaches, nature, and local amenities, this Ocean Park gem delivers the rare combination of relaxed coastal living and elevated design. This home offers a lifestyle of comfort, beauty, and tranquility.

Key facts

• Breakfast nook
• Natural light
• Detached shop

Tags

• SINGLE-STORY HOME
• ENSUITE BATHROOM
• CUSTOM-STYLE CABINETRY
• BREAKFAST NOOK
• NATURAL LIGHT
• DETACHED SHOP

Property features AI

Finance

• Financial info: Listing terms: Cash, Conventional, FHA, VA Loan

Exterior

• Parking: Off-street parking
• Utilities: Electric energy source; Individual well water; Septic tank sewer
• Home design: Single-family residence; One story; Built on lot; Has a view
• Construction: Composition roof; Construction materials: see remarks; Effective year built 1961
• Exterior features: Deck; Brush and wooded vegetation; See remarks for additional exterior details

Interior

• Kitchen: Microwave; Refrigerator; Stove/Range; Kitchen with eating space
• Bedrooms: 3 bedrooms (all on main level)
• Flooring: Hardwood; Carpet
• Bathrooms: 1 full bathroom (main level) with bathtub and shower
• Heating & cooling: Ductless heating; Has cooling
• Interior features: Ceiling fan(s); Dining room
• Laundry & utility: Utility room (main level)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $300k.

Deal economics

• At list price, monthly cash flow is $35 ($416/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 $242k (19.4% below list).
• Recommended offer: $242k (19.4% below list) — sets the bar for 1% rule.
• Cap rate 6.4% 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+, amenities 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.
• Zoned schools: Ocean Park Elementary (196 students, 76% FRL); Ilwaco High School (296 students, 64% FRL).
• 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 $2k of loan paydown is wiped out by about $9k 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 27 days — a 2% lower offer ($296k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $25k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $241,667 (19.4% below list)

Questions for the listing agent

1. Built in 1961 — 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 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?
4. 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?
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: 0.81% ✗
• Cap rate: 6.43%
• Cash-on-cash: 0.50%
• DSCR: 1.02
• GRM: 10.3

CMA / ARV

• ARV (on-the-fly): $380,860
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
28902 R Ln	0.38mi	2/2.0 (-1)	1,317 (-5%)	6mo	$379,000	$288	63
27106 K Pl	0.57mi	2/1.5 (-1)	1,421 (+2%)	4mo	$390,000	$274	59
27911 Sandridge Rd	0.58mi	3/1.0	1,299 (-6%)	16mo	$332,000	$256	45
29405 K Ln	0.72mi	2/2.0 (-1)	1,440 (+4%)	21mo	$370,000	$257	38

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: -15.5%
• Equity multiple: 0.45×
• Total profit: $-46,489
• Equity at exit: $44,731

10-year hold

• IRR: -7.1%
• Equity multiple: 0.55×
• Total profit: $-37,984
• Equity at exit: $25,939

Cash invested: $84,000 (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: 10.3×

Monthly cashflow live

• Estimated rent: $2,417 medium
• Mortgage (P&I): −$1,573
• Tax from tax record: −$176 /mo · $2,115/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$508
• Net cashflow: $35

Break-even live

Break-even rent $2,373

Max offer price $300,000

Occupancy floor 94%

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: $75,000
• Closing costs: $9,000
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
27906 U St Ocean Park, WA	3.0	2.5	1440	$2,600	$1.81	44d	1	0.18mi
29014 S Ln Ocean Park, WA	2.0	1.0	924	$1,700	$1.84	44d	1	0.48mi

Listing history 17 events

1. 2026-06-18
   days on market $300,000 Active 27 DOM
2. 2026-06-17
   days on market $300,000 Active 26 DOM
3. 2026-06-16
   days on market $300,000 Active 25 DOM
4. 2026-06-15
   days on market $300,000 Active 24 DOM
5. 2026-06-15
   days on market $300,000 Active 23 DOM
6. 2026-06-13
   days on market $300,000 Active 22 DOM
7. 2026-06-12
   pricedays on market $300,000 Active 21 DOM
8. 2026-06-09
   days on market $325,000 Active 18 DOM
9. 2026-06-08
   days on market $325,000 Active 17 DOM
10. 2026-06-08
    days on market $325,000 Active 16 DOM
11. 2026-06-07
    days on market $325,000 Active 15 DOM
12. 2026-06-03
    days on market $325,000 Active 12 DOM
13. 2026-06-02
    days on market $325,000 Active 11 DOM
14. 2026-06-01
    days on market $325,000 Active 10 DOM
15. 2026-05-31
    days on market $325,000 Active 9 DOM
16. 2026-05-22
    listed $325,000 Active 1998-char remark

    Show marketing remark (1998 chars)

    Nestled in the peaceful coastal community of Ocean Park, this beautifully designed single-story residence offers the perfect blend of comfort, warmth, and refined living. Featuring 3 bedrooms and 2 bathrooms, this thoughtfully crafted home welcomes you with an inviting atmosphere and timeless details throughout. The spacious primary suite serves as a private retreat, complete with its own well-appointed ensuite bathroom designed for relaxation and convenience. The heart of the home is the charming kitchen, where custom-style cabinetry elegantly frames the range and refrigerator, creating a cohesive and elevated aesthetic that brings both style and function together seamlessly. Adjacent to the kitchen, a bright and welcoming breakfast nook provides the ideal setting for slow mornings, casual dining, or gathering with guests. Flowing effortlessly through the home, the layout offers comfortable living spaces filled with natural light and a sense of easy sophistication. Every detail has been designed to create an environment that feels both cozy and upscale. Step outside to discover a backyard designed for enjoying the Pacific Northwest lifestyle year-round. A quaint detached shop offers flexible space for hobbies, storage, or creative pursuits, while the beautiful stone firepit creates the perfect focal point for evening conversations under the stars. Whether hosting gatherings or enjoying quiet coastal evenings, the outdoor space offers privacy, charm, and endless opportunity. An exceptional added opportunity awaits with the option to purchase the adjacent 10,000 square-foot buildable lot next door, complete with its own separate tax parcel. Seller is asking $60,000. Inquire for additional details and possibilities this rare offering provides. Located just moments from beaches, nature, and local amenities, this Ocean Park gem delivers the rare combination of relaxed coastal living and elevated design. This home offers a lifestyle of comfort, beauty, and tranquility.

17. 2026-05-22
    listed $325,000 Active

    Show marketing remark (1998 chars)

    Nestled in the peaceful coastal community of Ocean Park, this beautifully designed single-story residence offers the perfect blend of comfort, warmth, and refined living. Featuring 3 bedrooms and 2 bathrooms, this thoughtfully crafted home welcomes you with an inviting atmosphere and timeless details throughout. The spacious primary suite serves as a private retreat, complete with its own well-appointed ensuite bathroom designed for relaxation and convenience. The heart of the home is the charming kitchen, where custom-style cabinetry elegantly frames the range and refrigerator, creating a cohesive and elevated aesthetic that brings both style and function together seamlessly. Adjacent to the kitchen, a bright and welcoming breakfast nook provides the ideal setting for slow mornings, casual dining, or gathering with guests. Flowing effortlessly through the home, the layout offers comfortable living spaces filled with natural light and a sense of easy sophistication. Every detail has been designed to create an environment that feels both cozy and upscale. Step outside to discover a backyard designed for enjoying the Pacific Northwest lifestyle year-round. A quaint detached shop offers flexible space for hobbies, storage, or creative pursuits, while the beautiful stone firepit creates the perfect focal point for evening conversations under the stars. Whether hosting gatherings or enjoying quiet coastal evenings, the outdoor space offers privacy, charm, and endless opportunity. An exceptional added opportunity awaits with the option to purchase the adjacent 10,000 square-foot buildable lot next door, complete with its own separate tax parcel. Seller is asking $60,000. Inquire for additional details and possibilities this rare offering provides. Located just moments from beaches, nature, and local amenities, this Ocean Park gem delivers the rare combination of relaxed coastal living and elevated design. This home offers a lifestyle of comfort, beauty, and tranquility.

ⓘ 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: $2,115 · $176/mo
• Projected year-2 tax: $2,940 · $245/mo
• Expected delta: +$825/yr (+$69/mo · 39.0%)

ⓘ 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: $29,000
• − Mortgage interest: −$16,805
• − Property taxes: −$2,115
• − Insurance: −$1,500
• − Repairs & maintenance: −$2,320
• − Management: −$2,320
• − Depreciation: −$8,727
• Taxable loss: −$4,787
• Est. tax savings @ 24.0%: +$1,149
• After-tax cash flow: $1,565/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

+0.0% since first listed

2 events — show timeline

• 2026-05-22 Listed $325,000 NWMLS as Distributed by MLS Grid
• 2026-05-22 Listed $325,000 RMLS

Property tax history

+9.6%/yr

Latest (2026): $2,115 · -3.3% YoY. Source: county tax records.