325 N 5th Ave #10 · Sequim, WA 98382

$139,000

2 bd · 2.0 ba · 1,000 sqft · Manufactured public records · 12 Days on market

Built 1988 Est $129k · 8% over

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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
• Schools +5.3/10.0
• ARV discount +4.0/15.0
• 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

Welcome to West Alder Estates! This well-maintained 2-bedroom, 2-bath manufactured home offers 1,000 square feet of comfortable living space in a convenient location close to shopping, restaurants, and everyday amenities. Large windows and skylight fill the home with natural light, creating a bright and inviting atmosphere throughout. The functional kitchen features a breakfast bar and opens to the main living area, making it ideal for everyday living and entertaining. A laundry area is conveniently located just off the kitchen. Outside, enjoy the patio, beautifully landscaped yard, and garden space—perfect for relaxing or cultivating your favorite flowers and vegetables. The carport provides covered parking, while the attached storage shed offers extra room for tools, hobbies, and seasonal items. A wonderful opportunity to enjoy easy living in a desirable community!

Key facts

• Functional kitchen
• Manufactured home
• Laundry area

Tags

• MANUFACTURED HOME
• FUNCTIONAL KITCHEN
• BREAKFAST BAR
• LAUNDRY AREA
• PATIO
• LANDSCAPED YARD

Property features AI

Finance

• Other: Calculated building area: 1000 square feet
• Financial info: Listing terms: Cash or Conventional
• HOA & community: Located in West Alder Estates; Senior community; Land lease: $617

Exterior

• Parking: Carport
• Utilities: Public water; Public sewer; PUD power
• Home design: Manufactured double-wide home; Single-story; Model: SANDLWD; Entry level: one
• Construction: Composition roof; Pillar/Post/Pier foundation; Manufactured after 6/15/1976
• Exterior features: Paved lot; Patio/porch/deck; Landscaped

Interior

• Kitchen: Dishwasher; Refrigerator; Stove/Range; Kitchen with eating space
• Bedrooms: 2 bedrooms
• Flooring: Vinyl; Vinyl plank
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Electric energy source
• Interior features: Ceiling fans; Skylights; Vaulted ceilings; Landscaped lot; Patio/porch/deck
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $139k.

Deal economics

• At list price, monthly cash flow is $932 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $139k).
• Cap rate 14.3% 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; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 166 units permitted in Clallam County in 2024 (0 in 5+ unit buildings).
• This rent runs 37% 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 $961 of loan paydown is wiped out by about $4k 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 $39k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 16y 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 $120k; 16% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $139,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 1.65% ✓
• Cap rate: 14.34%
• Cash-on-cash: 28.72%
• DSCR: 2.28
• GRM: 5.1

CMA / ARV

• ARV (on-the-fly): $129,000
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
325 N 5th Ave #40 Ave	0.00mi	2/2.0	1,056 (+6%)	2mo	$90,773	$86	89
610 W Spruce St #116	0.06mi	2/1.5	960 (-4%)	5mo	$64,700	$67	84
610 W Spruce Street Dr	0.06mi	2/1.0	960 (-4%)	8mo	$60,000	$63	80
634 N 7th Ave	0.31mi	2/2.0	1,028 (+3%)	11mo	$194,000	$189	72
621 N 7th Ave	0.32mi	2/2.0	1,056 (+6%)	6mo	$215,000	$204	71
642 N 7th Ave	0.31mi	2/2.0	1,090 (+9%)	3mo	$140,000	$128	68
610 W Spruce St #105	0.06mi	2/2.0	1,120 (+12%)	16mo	$85,000	$76	64
325 N 5th Ave #14	0.00mi	2/2.0	1,144 (+14%)	17mo	$150,000	$131	62
921 S 3rd Ave	0.73mi	2/1.0	960 (-4%)	0mo	$125,900	$131	55
921 S 3rd Ave #20	0.73mi	2/1.0	960 (-4%)	0mo	$125,900	$131	55
11 Juniper Mobile Ests	0.32mi	2/1.0	864 (-14%)	6mo	$74,900	$87	53
921 S 3rd St #33	0.73mi	2/1.0	960 (-4%)	9mo	$123,500	$129	47

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: 23.0%
• Equity multiple: 1.95×
• Total profit: $36,791
• Equity at exit: $20,725

10-year hold

• IRR: 31.0%
• Equity multiple: 3.78×
• Total profit: $108,368
• Equity at exit: $12,018

Cash invested: $38,920 (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 98382

• Active inventory: 605
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $2,289 medium
• Mortgage (P&I): −$729
• Tax from tax record: −$90 /mo · $1,076/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$481
• Net cashflow: $932

Break-even live

Break-even rent $1,110

Max offer price $139,000

Occupancy floor 54%

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: $34,750
• Closing costs: $4,170
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
850 Tommy Ct Sequim, WA	3.0	2.0	1350	$2,300	$1.70	44d	1	0.35mi
246 W Maple St Sequim, WA	3.0	2.0	1200	$2,300	$1.92	44d	1	0.49mi
522 W Evergreen Farm Way Sequim, WA	2.0	2.0	1336	$2,450	$1.83	44d	1	0.80mi
1045 S 3rd Ave Unit 33 Sequim, WA	2.0	1.5	956	$2,100	$2.20	44d	1	0.86mi

Listing history 11 events

1. 2026-06-18
   status $139,000 Pending 12 DOM
2. 2026-06-18
   days on market $139,000 Active 12 DOM
3. 2026-06-17
   days on market $139,000 Active 11 DOM
4. 2026-06-16
   days on market $139,000 Active 10 DOM
5. 2026-06-15
   days on market $139,000 Active 9 DOM
6. 2026-06-14
   days on market $139,000 Active 7 DOM
7. 2026-06-12
   days on market $139,000 Active 6 DOM
8. 2026-06-09
   days on market $139,000 Active 3 DOM
9. 2026-06-08
   days on market $139,000 Active 2 DOM
10. 2026-06-07
    remarks 693-char remark
11. 2026-06-07
    listed $139,000 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: $1,076 · $90/mo
• Projected year-2 tax: $1,362 · $114/mo
• Expected delta: +$286/yr (+$24/mo · 26.6%)

ⓘ 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 · 16 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: $27,465
• − Mortgage interest: −$7,786
• − Property taxes: −$1,076
• − Insurance: −$695
• − Repairs & maintenance: −$2,197
• − Management: −$2,197
• − Depreciation: −$4,044
• Taxable income: $9,470
• Est. tax owed @ 24.0%: −$2,273
• After-tax cash flow: $8,906/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

+458.2% since first listed

18 events — show timeline

• 2026-06-06 Listed $139,000 OLS
• 2026-06-06 Listed $139,000 NWMLS as Distributed by MLS Grid
• 2024-02-05 Sold (MLS) $120,000 NWMLS as Distributed by MLS Grid
• 2024-02-05 Sold (MLS) $120,000 OLS
• 2024-01-16 Pending — OLS
• 2024-01-16 Pending — NWMLS as Distributed by MLS Grid
• 2023-11-08 Relisted — OLS
• 2023-11-08 Relisted — NWMLS as Distributed by MLS Grid
• 2023-10-31 Pending — NWMLS as Distributed by MLS Grid
• 2023-10-31 Pending — OLS
• 2023-10-13 Price Changed $139,000 OLS
• 2023-10-13 Price Changed $139,000 NWMLS as Distributed by MLS Grid
• 2023-09-26 Price Changed $159,000 OLS
• 2023-09-26 Price Changed $159,000 NWMLS as Distributed by MLS Grid
• 2023-07-21 Listed $169,000 NWMLS as Distributed by MLS Grid
• 2023-07-21 Listed $169,000 OLS
• 2010-05-07 Sold (MLS) $24,000 NWMLS as Distributed by MLS Grid
• 2010-04-06 Listed $24,900 NWMLS as Distributed by MLS Grid

Property tax history

+19.5%/yr

Latest (2026): $1,076 · +9.9% YoY. Source: county tax records.