605 Arcadia Ave · Shelton, WA 98584

$210,000

4 bd · 2.0 ba · 1,971 sqft · SingleFamily public records · 80 Days on market

Built 1940 10,019 sqft lot

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Why this score? — see what drove the C 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 +24.8/30.0
• DSCR +8.1/10.0
• ARV discount +7.5/15.0
• 1% rule +6.5/10.0
• Livability +3.7/5.0
• Schools +3.4/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Investor Opportunity in Shelton – Large Lot, Shop, and Basement Potential Bring your vision to this fixer situated on a spacious lot, offering a great opportunity for your next project. Interior demo has been completed, giving you a clean slate to design and finish to your liking. The home features a functional layout with a large roughed-in basement, providing potential for additional living space, rental income, or flexible use. The property includes a metal roof and newer windows, along with a detached shop/garage—ideal for storage, workspace, or future value-add possibilities. Plenty of room on the lot for parking, expansion, or additional improvements. Perfect for investors

Key facts

• Metal roof
• Large lot
• Detached shop

Tags

• LARGE LOT
• DETACHED SHOP
• ROUGHED-IN BASEMENT
• METAL ROOF
• NEWER WINDOWS

Property features AI

Finance

• Other: Seller indicates property is used as a fixer
• Financial info: Listing terms: Cash or Rehab Loan

Exterior

• Parking: Detached garage; Covered parking for 2 vehicles; Garage accommodates RV parking
• Security: Partially fenced
• Utilities: Public water (City of Shelton); Sewer connected (City of Shelton); Electric and natural gas energy sources; Power by PUD #3
• Home design: Single-family residence; One story with basement; Entry on main level; Has a view; Fixer condition
• Construction: Metal roof; Metal/vinyl construction materials; Built on lot; Effective year built 1940; Foundation: Pillar/Post/Pier and poured concrete
• Exterior features: Metal/vinyl exterior; Partial fencing; RV parking; On-site shop; Paved lot

Interior

• Kitchen: Kitchen without eating space
• Bedrooms: 3 bedrooms (all on the main level)
• Flooring: Hardwood
• Bathrooms: 1 full bathroom; 1 three-quarter bathroom; 2 showers; 1 bathtub
• Heating & cooling: Ductless heating; Cooling present
• Interior features: Hardwood flooring; Basement roughed in; Partially fenced
• Laundry & utility: Ductless heating; Has cooling

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $210k.

Deal economics

• At list price, monthly cash flow is $447 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $210k).
• Recommended offer: $197k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.8% vs local median 3.1% in Shelton — 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 73/100 on livability (#203 in WA) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, amenities A-; Watch: schools D+, employment D+, crime F.
• Shelton School District (town): math 31% / reading 43% proficiency, ranked #237 of 291 in WA (top 81%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 439 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 299 units permitted in Mason County in 2024 (0 in 5+ unit buildings).
• This rent runs 37% of the median local income ($79k/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.
• Mason County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 80 days — a 6% lower offer ($197k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 21y 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 $155k; 35% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $197,400 (6.0% below list)

Questions for the listing agent

1. It's been on market 80 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. 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.
8. 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.
9. 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: 1.15% ✓
• Cap rate: 8.85%
• Cash-on-cash: 9.12%
• DSCR: 1.41
• GRM: 7.3

CMA / ARV

• ARV (on-the-fly): $463,185
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
415 Bellevue Ave	0.13mi	4/2.0	1,835 (-7%)	16mo	$355,000	$193	69
1208 Fairmount Ave	0.57mi	3/2.0 (-1)	2,048 (+4%)	0mo	$490,000	$239	62
500 SE Mill Creek Rd	0.73mi	3/2.0 (-1)	1,980 (+0%)	4mo	$415,000	$210	57
111 E Wilson St	0.37mi	3/2.0 (-1)	1,767 (-10%)	7mo	$415,000	$235	55
1328 Mason St	0.48mi	4/2.0	2,048 (+4%)	21mo	$386,000	$188	54
230 W Tree Frog Ln	0.57mi	3/2.0 (-1)	1,842 (-6%)	12mo	$535,000	$290	48
1300 Bay St	0.58mi	3/2.5 (-1)	1,769 (-10%)	3mo	$446,680	$253	46
102 E University Ave	0.28mi	3/1.0 (-1)	1,695 (-14%)	10mo	$270,000	$159	46
1110 Fairmount Ave	0.55mi	3/2.0 (-1)	1,860 (-6%)	18mo	$500,000	$269	45
505 W Harvard Ave	0.73mi	3/1.0 (-1)	1,804 (-8%)	1mo	$335,000	$186	42
1528 Holman St	0.33mi	3/2.0 (-1)	1,714 (-13%)	21mo	$355,000	$207	40
716 Meridian Ave	0.72mi	3/2.5 (-1)	1,706 (-13%)	5mo	$455,000	$267	33

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: -2.5%
• Equity multiple: 0.91×
• Total profit: $-5,538
• Equity at exit: $31,312

10-year hold

• IRR: 7.2%
• Equity multiple: 1.54×
• Total profit: $31,970
• Equity at exit: $18,157

Cash invested: $58,800 (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 98584

• Active inventory: 439
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $2,406 medium
• Mortgage (P&I): −$1,101
• Tax from tax record: −$265 /mo · $3,179/yr
• Insurance: −$88
• HOA: −$0
• Vacancy / Maint / Mgmt: −$505
• Net cashflow: $447

Break-even live

Break-even rent $1,840

Max offer price $210,000

Occupancy floor 76%

Sensitivity live

Price	-10% $566	-5% $506	+0% $447	+5% $387	+10% $328
Rent	-10% $257	-5% $352	+0% $447	+5% $542	+10% $637
Rate	-1.0pp $553	-0.5pp $500	base $447	+0.5pp $392	+1.0pp $337

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: $52,500
• Closing costs: $6,300
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
146 Hawthorn Ln Shelton, WA	3.0	3.0	1991	$2,600	$1.31	14d	1	1.33mi

Listing history 28 events

1. 2026-06-19
   days on market $210,000 Active 80 DOM
2. 2026-06-18
   days on market $210,000 Active 79 DOM
3. 2026-06-17
   days on market $210,000 Active 78 DOM
4. 2026-06-16
   days on market $210,000 Active 77 DOM
5. 2026-06-15
   days on market $210,000 Active 76 DOM
6. 2026-06-14
   days on market $210,000 Active 74 DOM
7. 2026-06-12
   days on market $210,000 Active 73 DOM
8. 2026-06-09
   days on market $210,000 Active 70 DOM
9. 2026-06-08
   days on market $210,000 Active 69 DOM
10. 2026-06-07
    days on market $210,000 Active 68 DOM
11. 2026-06-02
    days on market $210,000 Active 63 DOM
12. 2026-06-01
    days on market $210,000 Active 62 DOM
13. 2026-05-31
    days on market $210,000 Active 61 DOM
14. 2026-05-30
    days on market $210,000 Active 60 DOM
15. 2026-03-31
    listed $210,000 Active
16. 2024-12-27
    soldstatus $155,000 Closed
17. 2024-12-18
    status Pending
18. 2024-12-06
    status Pending - Backup Offer Requested
19. 2024-11-30
    price $165,000
20. 2024-11-27
    status Active
21. 2024-11-15
    status Pending
22. 2024-11-11
    price $175,000
23. 2024-10-31
    price $199,900
24. 2024-10-29
    price $249,900
25. 2024-10-28
    listed $149,900 Active
26. 2005-04-29
    soldstatus $106,000
27. 2005-04-28
    soldstatus $106,000
28. 2005-02-02
    listed $105,950

ⓘ 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: $3,179 · $265/mo
• Projected year-2 tax: $3,179 · $265/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥88°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 7/10 Severe 9 unhealthy d/yr today · 10 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,867
• − Mortgage interest: −$11,763
• − Property taxes: −$3,179
• − Insurance: −$1,050
• − Repairs & maintenance: −$2,309
• − Management: −$2,309
• − Depreciation: −$6,109
• Taxable income: $2,147
• Est. tax owed @ 24.0%: −$515
• After-tax cash flow: $4,846/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: Shelton School District
• NCES district ID: 5307900
• Math proficiency: 31% ▼ -1.00%
• Reading proficiency: 43% ▼ -3.00%
• Median HH income: $45,467
• Composite: 34.1/100
• National rank: #10288
• State rank: #237 of 291 in WA

Livability — Shelton

• Score: 73/100
• State rank: #203
• US rank: #5586

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Shelton, WA
• County: Mason County · 40,606 people
• City population: 40,606
• Metro: Shelton, WA
• Population (ZIP): 40,606
• Household income: $78,610
• Rent vs Own: 20.2% rent · 79.8% own
• Severe rent burden: 687.0

Population outlook (Mason County) Hauer SSP2

• Today (2025): 60,005 people
• By 2030: 58,567 · -2.4%
• By 2040: 54,735 · -8.8%
• By 2050: 51,470 · -14.2%
• By 2075: 46,276 · -22.9%
• By 2100: 39,883 · -33.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (72%)
• Race & ethnicity: White 72% Hispanic / Latino 15% Two or more races 11% Native American 3%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Portuguese 4% Slovak 3% Italian 2%
• Foreign-born: 8% · Canada
• Languages at home: 88% English-only · Spanish 10%

Political lean MEDSL · Mason

• 2024 margin: Toss-up / Even · D 47.2% · R 49.7% · Other 3.2%
• 2008→2024 swing: -11.2pp toward R · 2008: 8.7pp · 2024: -2.5pp
• All cycles: 2024: R+2.5 2020: R+3.9 2016: R+6.0 2012: D+6.9 2008: D+8.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -232.42%
• Current HPI: 199.0698
• Rent YoY: —
• Metro: Shelton, 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

+98.2% since first listed

14 events — show timeline

• 2026-03-31 Listed $210,000 NWMLS as Distributed by MLS Grid
• 2024-12-27 Sold (MLS) $155,000 NWMLS as Distributed by MLS Grid
• 2024-12-18 Pending — NWMLS as Distributed by MLS Grid
• 2024-12-06 Pending — NWMLS as Distributed by MLS Grid
• 2024-11-30 Price Changed $165,000 NWMLS as Distributed by MLS Grid
• 2024-11-27 Relisted — NWMLS as Distributed by MLS Grid
• 2024-11-15 Pending — NWMLS as Distributed by MLS Grid
• 2024-11-11 Price Changed $175,000 NWMLS as Distributed by MLS Grid
• 2024-10-31 Price Changed $199,900 NWMLS as Distributed by MLS Grid
• 2024-10-29 Price Changed $249,900 NWMLS as Distributed by MLS Grid
• 2024-10-28 Listed $149,900 NWMLS as Distributed by MLS Grid
• 2005-04-29 Sold (MLS) $106,000 NWMLS as Distributed by MLS Grid
• 2005-04-28 Sold (Public Records) $106,000 Public Records
• 2005-02-02 Listed $105,950 NWMLS as Distributed by MLS Grid

Property tax history

+4.1%/yr

Latest (2026): $3,179 · +6.1% YoY. Source: county tax records.