325 N 5th #48 Ave · Sequim, WA 98382

$199,000

3 bd · 2.0 ba · 1,614 sqft · Land · 50 Days on market

Built 1989 $123/sqft · 50% above area

---

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 +27.9/30.0
• DSCR +9.8/10.0
• 1% rule +7.6/10.0
• ARV discount +7.5/15.0
• Schools +5.3/10.0
• 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

Enjoy easy in-town living at West Alder Estates, one of Sequim’s most walkable 55+ communities! This well-maintained 1,614 sq ft home features an open layout with updated laminate flooring, vaulted ceilings, and skylights. Offers 3 bedrooms, 2 baths, a spacious kitchen, and a large covered patio for outdoor relaxation. Fresh exterior paint adds great curb appeal, and the low-maintenance yard means more time to enjoy the town. Located just blocks from shopping, dining, medical services, and parks—this home truly combines comfort, convenience, and walkability! This home borders the alley, providing added convenience and parking.

Key facts

• Garage
• Built 1989
• Listed 49 days

Property features AI

Finance

• Other: Listing is active; Calculated building area 1614 (source: county records)
• Financial info: Accepts Cash, Conventional, FHA
• HOA & community: Located in West Alder Estates; Senior community; Pets allowed — see remarks; Land lease $800

Exterior

• Parking: Individual garage (has garage)
• Utilities: Public water; City sewer; PUD power; Electric energy source
• Home design: Manufactured home (double wide); One story
• Construction: Composition roof; Manufactured house construction
• Exterior features: Paved lot; Has view

Interior

• Kitchen: Dishwasher; Double oven; Refrigerator
• Bedrooms: 3 bedrooms
• Flooring: Laminate; Vinyl
• Bathrooms: 2 full baths
• Heating & cooling: Heat pump for heating and cooling
• Interior features: Vaulted ceilings; Skylights; Dining room; Entry; Family room; Kitchen with eating space; Living room; Utility room; Bath off primary; Landscaped; Patio/porch/deck
• Laundry & utility: Utility room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath land listed at $199k.

Deal economics

• At list price, monthly cash flow is $610 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $199k).
• Recommended offer: $193k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.0% 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; 3 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 41% 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 $1k of loan paydown is wiped out by about $6k 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 $56k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 50 days — a 3% lower offer ($193k) is reasonable based on typical stale-listing flexibility.
• 15 sale attempts since 19y ago; this cycle's ask has dropped $30k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $193,030 (3.0% below list)

Questions for the listing agent

1. It's been on market 50 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.26% ✓
• Cap rate: 9.97%
• Cash-on-cash: 13.14%
• DSCR: 1.58
• GRM: 6.6

CMA / ARV

• ARV (median comp): $132,248
• List price: $199,000
• Delta: 65.60%
• Verdict: OVERPRICED
• Comps: 8 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 3.1%
• Equity multiple: 1.12×
• Total profit: $6,653
• Equity at exit: $29,672

10-year hold

• IRR: 12.7%
• Equity multiple: 2.00×
• Total profit: $55,989
• 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 98382

• Active inventory: 605
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $2,513 medium
• Mortgage (P&I): −$1,044
• Tax est. 1.5%: −$249 /mo · $2,985/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$528
• Net cashflow: $610

Break-even live

Break-even rent $1,741

Max offer price $199,000

Occupancy floor 71%

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 3 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

Listing history 50 events

1. 2026-06-19
   pricedays on market $199,000 Active 50 DOM
2. 2026-06-18
   days on market $219,000 Active 49 DOM
3. 2026-06-17
   days on market $219,000 Active 48 DOM
4. 2026-06-16
   days on market $219,000 Active 47 DOM
5. 2026-06-15
   days on market $219,000 Active 46 DOM
6. 2026-06-14
   pricedays on marketlisting id $219,000 Active 44 DOM
7. 2026-06-12
   days on market $59,000 Active 6 DOM
8. 2026-06-09
   days on market $59,000 Active 3 DOM
9. 2026-06-08
   days on market $59,000 Active 2 DOM
10. 2026-06-07
    pricedays on marketlisting id $59,000 Active 1 DOM
11. 2026-06-05
    days on market $219,000 Active 35 DOM
12. 2026-06-03
    days on market $219,000 Active 34 DOM
13. 2026-06-02
    days on market $219,000 Active 33 DOM
14. 2026-06-01
    days on market $219,000 Active 32 DOM
15. 2026-05-31
    days on market $219,000 Active 31 DOM
16. 2026-05-30
    days on market $219,000 Active 30 DOM
17. 2026-04-30
    listed $229,000 Active
18. 2025-12-04
    soldstatus $203,000 Closed 646-char remark

    Show marketing remark (646 chars)

    Enjoy easy in-town living at West Alder Estates, one of Sequim’s most walkable 55+ communities! This well-maintained 1,614 sq ft home features an open layout with updated laminate flooring, vaulted ceilings, and skylights. Offers 3 bedrooms, 2 baths, a spacious kitchen, and a large covered patio for outdoor relaxation. Fresh exterior paint adds great curb appeal, and the low-maintenance yard means more time to enjoy the town. Located just blocks from shopping, dining, medical services, and parks—this home truly combines comfort, convenience, and walkability! This home borders the alley, providing added convenience and parking.

19. 2025-11-16
    status Pending 646-char remark

    Show marketing remark (646 chars)

    Enjoy easy in-town living at West Alder Estates, one of Sequim’s most walkable 55+ communities! This well-maintained 1,614 sq ft home features an open layout with updated laminate flooring, vaulted ceilings, and skylights. Offers 3 bedrooms, 2 baths, a spacious kitchen, and a large covered patio for outdoor relaxation. Fresh exterior paint adds great curb appeal, and the low-maintenance yard means more time to enjoy the town. Located just blocks from shopping, dining, medical services, and parks—this home truly combines comfort, convenience, and walkability! This home borders the alley, providing added convenience and parking.

20. 2025-10-27
    listed $214,000 Active 646-char remark

    Show marketing remark (646 chars)

    Enjoy easy in-town living at West Alder Estates, one of Sequim’s most walkable 55+ communities! This well-maintained 1,614 sq ft home features an open layout with updated laminate flooring, vaulted ceilings, and skylights. Offers 3 bedrooms, 2 baths, a spacious kitchen, and a large covered patio for outdoor relaxation. Fresh exterior paint adds great curb appeal, and the low-maintenance yard means more time to enjoy the town. Located just blocks from shopping, dining, medical services, and parks—this home truly combines comfort, convenience, and walkability! This home borders the alley, providing added convenience and parking.

21. 2025-09-24
    soldstatus $190,000 Closed 625-char remark

    Show marketing remark (625 chars)

    Location! Location! Located right in the heart of Sequim sits this completely remodeled, like brand new beautiful home. This home features an exceptional open floor plan with kitchen boasting stainless steel appliances, deluxe island for extra counter space, deep sink and tons of cabinet storage. The sunshine thru the large windows makes for a bright feeling throughout the home. The large master bedroom features a huge walk-in closet and a private master bathroom. Wonderful neighbors and homes are well maintained in this 55+ community park. Sequim is known as the sun belt area. Carport and extra storage area included.

22. 2025-08-11
    soldstatus $147,450 Closed
23. 2025-08-07
    price $195,000 625-char remark

    Show marketing remark (625 chars)

    Location! Location! Located right in the heart of Sequim sits this completely remodeled, like brand new beautiful home. This home features an exceptional open floor plan with kitchen boasting stainless steel appliances, deluxe island for extra counter space, deep sink and tons of cabinet storage. The sunshine thru the large windows makes for a bright feeling throughout the home. The large master bedroom features a huge walk-in closet and a private master bathroom. Wonderful neighbors and homes are well maintained in this 55+ community park. Sequim is known as the sun belt area. Carport and extra storage area included.

24. 2025-07-28
    status Pending
25. 2025-07-06
    status Active
26. 2025-06-27
    status Pending
27. 2025-06-06
    soldstatus $208,000 Closed
28. 2025-05-30
    listed $197,000 Active 625-char remark

    Show marketing remark (625 chars)

    Location! Location! Located right in the heart of Sequim sits this completely remodeled, like brand new beautiful home. This home features an exceptional open floor plan with kitchen boasting stainless steel appliances, deluxe island for extra counter space, deep sink and tons of cabinet storage. The sunshine thru the large windows makes for a bright feeling throughout the home. The large master bedroom features a huge walk-in closet and a private master bathroom. Wonderful neighbors and homes are well maintained in this 55+ community park. Sequim is known as the sun belt area. Carport and extra storage area included.

29. 2025-05-18
    historical Active Under Contract
30. 2025-04-27
    status Pending
31. 2025-03-13
    price $149,000
32. 2025-03-03
    listed $229,000 Active
33. 2025-02-22
    listed $154,000 Active
34. 2025-01-29
    soldstatus $150,000 Closed
35. 2024-11-25
    soldstatus $119,000 Closed
36. 2024-11-05
    status Pending
37. 2024-09-27
    price $119,000
38. 2024-09-25
    historical Active Under Contract
39. 2024-09-12
    price $132,500
40. 2024-09-12
    status Active
41. 2024-09-05
    status Pending
42. 2024-08-21
    price $145,000
43. 2024-08-09
    listed $150,000 Active
44. 2024-07-25
    price $154,000
45. 2024-06-05
    listed $159,000 Active
46. 2023-12-15
    soldstatus $170,000 Closed
47. 2023-11-28
    status Pending
48. 2023-11-06
    listed $179,000 Active
49. 2023-08-18
    soldstatus $120,000 Closed
50. 2023-08-06
    historical

ⓘ 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 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: $30,158
• − Mortgage interest: −$11,147
• − Property taxes: −$2,985
• − Insurance: −$995
• − Repairs & maintenance: −$2,413
• − Management: −$2,413
• − Depreciation: −$5,789
• Taxable income: $4,417
• Est. tax owed @ 24.0%: −$1,060
• After-tax cash flow: $6,262/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

+222.1% since first listed

53 events — show timeline

• 2026-05-23 Price Changed $219,000 NWMLS as Distributed by MLS Grid
• 2026-04-30 Listed $229,000 NWMLS as Distributed by MLS Grid
• 2025-12-04 Sold (MLS) $203,000 OLS
• 2025-11-16 Pending — OLS
• 2025-10-27 Listed $214,000 OLS
• 2025-09-24 Sold (MLS) $190,000 OLS
• 2025-08-11 Sold (MLS) $147,450 OLS
• 2025-08-07 Price Changed $195,000 OLS
• 2025-07-28 Pending — OLS
• 2025-07-06 Relisted — OLS
• 2025-06-27 Pending — OLS
• 2025-06-06 Sold (MLS) $208,000 OLS
• 2025-05-30 Listed $197,000 OLS
• 2025-05-18 Contingent — OLS
• 2025-04-27 Pending — OLS
• 2025-03-13 Price Changed $149,000 OLS
• 2025-03-03 Listed $229,000 OLS
• 2025-02-22 Listed $154,000 OLS
• 2025-01-29 Sold (MLS) $150,000 OLS
• 2024-11-25 Sold (MLS) $119,000 OLS
• 2024-11-05 Pending — OLS
• 2024-09-27 Price Changed $119,000 OLS
• 2024-09-25 Contingent — OLS
• 2024-09-12 Price Changed $132,500 OLS
• 2024-09-12 Relisted — OLS
• 2024-09-05 Pending — OLS
• 2024-08-21 Price Changed $145,000 OLS
• 2024-08-09 Listed $150,000 OLS
• 2024-07-25 Price Changed $154,000 OLS
• 2024-06-05 Listed $159,000 OLS
• 2023-12-15 Sold (MLS) $170,000 OLS
• 2023-11-28 Pending — OLS
• 2023-11-06 Listed $179,000 OLS
• 2023-08-18 Sold (MLS) $120,000 OLS
• 2023-08-06 Delisted — OLS
• 2023-08-02 Listed $130,000 OLS
• 2023-05-19 Sold (MLS) $142,500 OLS
• 2023-04-25 Delisted — OLS
• 2023-04-20 Pending — OLS
• 2023-04-03 Listed $145,000 OLS
• 2022-08-19 Sold (Public Records) $5,500,000 Public Records
• 2021-07-23 Sold (MLS) $127,100 OLS
• 2019-04-30 Sold (MLS) $100,500 OLS
• 2018-12-31 Sold (MLS) $77,000 OLS
• 2018-11-16 Sold (MLS) $87,241 OLS
• 2017-06-19 Sold (MLS) $56,000 NWMLS as Distributed by MLS Grid
• 2017-05-17 Listed $57,500 NWMLS as Distributed by MLS Grid
• 2016-03-22 Sold (MLS) $59,000 OLS
• 2015-12-28 Sold (MLS) $56,000 OLS
• 2014-11-06 Sold (MLS) $50,000 NWMLS as Distributed by MLS Grid
• 2014-07-18 Listed $57,000 NWMLS as Distributed by MLS Grid
• 2007-05-02 Sold (MLS) $64,800 NWMLS as Distributed by MLS Grid
• 2007-02-20 Listed $68,000 NWMLS as Distributed by MLS Grid

Property tax history

+6.3%/yr

Latest (2026): $37,589 · +29.2% YoY. Source: county tax records.