1502 300th Pl · Ocean Park, WA 98640

$189,000

2 bd · 2.0 ba · 660 sqft · Manufactured public records · 62 Days on market

Built 1975 9,148 sqft lot $286/sqft · 43% above area Est $201k · 6% under $65/mo HOA · 4% 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 +16.1/30.0
• ARV discount +10.1/15.0
• DSCR +5.0/10.0
• 1% rule +4.0/10.0
• 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

Price drop on this one of a kind home that checks all the boxes! 2 bedrooms, 2 baths, 2 wood stoves and a hillbilly hot tub to boot! Laminate flooring, updated bathrooms and adorable enclosed front porch with wood stove. Enjoy all the wild life nature has to offer here on the Long Beach peninsula! This home is situated on a quiet cul-de-sac and is 5 minutes to the Pacific ocean, Ocean Park and beautiful Willapa Bay. Huge back yard with lots of sun for gardening, plus big storage shed and wood shed. You have to see this place to understand how special it is! This is the perfect get away from the big city or a wonderful, affordable place to call home. Call today before it gets away!

Key facts

• 9,148 sq ft lot
• Parking
• Built 1975

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $189k.

Deal economics

• At list price, monthly cash flow is $97 ($1k/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 $170k (10.2% below list).
• Recommended offer: $170k (10.2% below list) — sets the bar for 1% rule.
• Cap rate 6.9% 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; 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.

Negotiation context

• It's been on market 62 days — a 6% lower offer ($178k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $147k; 29% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $169,708 (10.2% below list)

Questions for the listing agent

1. It's been on market 62 days. Have you received any prior offers? Is the seller open to a 10% concession, seller financing, or rate buy-down credit?
2. Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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 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: 0.90% ✗
• Cap rate: 6.91%
• Cash-on-cash: 2.20%
• DSCR: 1.10
• GRM: 9.3

CMA / ARV

• ARV (median comp): $200,815
• List price: $189,000
• Delta: -5.88%
• Verdict: FAIR
• Comps: 3 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
30206 M Pl	0.15mi	2/1.0	648 (-2%)	11mo	$145,000	$224	77
29712 M Pl	0.13mi	2/2.0	720 (+9%)	22mo	$165,000	$229	61

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: -12.8%
• Equity multiple: 0.54×
• Total profit: $-24,448
• Equity at exit: $28,181

10-year hold

• IRR: -3.8%
• Equity multiple: 0.75×
• Total profit: $-13,369
• Equity at exit: $16,341

Cash invested: $52,920 (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: 9.3×

Monthly cashflow live

• Estimated rent: $1,697 medium
• Mortgage (P&I): −$991
• Tax from tax record: −$109 /mo · $1,303/yr
• Insurance: −$79
• HOA: −$65
• Vacancy / Maint / Mgmt: −$356
• Net cashflow: $97

Break-even live

Break-even rent $1,574

Max offer price $189,000

Occupancy floor 89%

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: $47,250
• Closing costs: $5,670
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $65 · $780/yr

Listing history 18 events

1. 2026-06-18
   days on market $189,000 Active 62 DOM
2. 2026-06-17
   days on market $189,000 Active 61 DOM
3. 2026-06-16
   days on market $189,000 Active 60 DOM
4. 2026-06-15
   days on market $189,000 Active 59 DOM
5. 2026-06-15
   days on market $189,000 Active 58 DOM
6. 2026-06-13
   days on market $189,000 Active 57 DOM
7. 2026-06-12
   days on market $189,000 Active 56 DOM
8. 2026-06-09
   days on market $189,000 Active 53 DOM
9. 2026-06-08
   days on market $189,000 Active 52 DOM
10. 2026-06-08
    days on market $189,000 Active 51 DOM
11. 2026-06-07
    days on market $189,000 Active 50 DOM
12. 2026-06-03
    days on market $189,000 Active 47 DOM
13. 2026-06-02
    days on market $189,000 Active 46 DOM
14. 2026-06-01
    days on market $189,000 Active 45 DOM
15. 2026-05-31
    days on market $189,000 Active 44 DOM
16. 2026-04-17
    listed $197,500 Active
17. 2020-05-15
    soldstatus $147,000
18. 2002-04-16
    soldstatus $40,000

ⓘ 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: $1,303 · $109/mo
• Projected year-2 tax: $1,852 · $154/mo
• Expected delta: +$549/yr (+$46/mo · 42.1%)

ⓘ 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 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: $20,365
• − Mortgage interest: −$10,587
• − Property taxes: −$1,303
• − Insurance: −$945
• − Repairs & maintenance: −$1,629
• − Management: −$1,629
• − HOA: −$780
• − Depreciation: −$5,498
• Taxable loss: −$2,007
• Est. tax savings @ 24.0%: +$482
• After-tax cash flow: $1,648/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

• 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

+393.8% since first listed

3 events — show timeline

• 2026-04-17 Listed $197,500 NWMLS as Distributed by MLS Grid
• 2020-05-15 Sold (Public Records) $147,000 Public Records
• 2002-04-16 Sold (Public Records) $40,000 Public Records

Property tax history

+5.3%/yr

Latest (2026): $1,303 · +1.8% YoY. Source: county tax records.