921 S 3rd Ave · Sequim, WA 98382

$125,900

2 bd · 2.0 ba · 1,566 sqft · Land public records · 254 Days on market

Built 1969 960 sqft lot

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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
• 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

Very affordable home in nice 55+ park. Modifications have been made for wheelchair accessibility, including a ramp to front door and widened doors/entryway to larger bedroom. Other recent upgrades include roof, walk-in shower and LVP flooring throughout. Private and peaceful fenced backyard receives full Southern exposure and features several planting areas and a spacious two level deck. Located in a quiet area close to downtown Sequim, near dining, shopping and other amenities. Hide-A-Way park allows up to two pets which are subject to park approval. Space rent is only $500/mo, and tenant will need pre-approval from park management. Get your broker and check this gem out, priced to sell!

Key facts

• Covered carport
• New walk-in shower
• Ductless heat pump

Tags

• NEW WALK-IN SHOWER
• NEW DECK
• DUCTLESS HEAT PUMP
• COVERED CARPORT
• LARGE STORAGE SHED
• NEW SHED WITH LOFT

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath land listed at $126k.

Deal economics

• At list price, monthly cash flow is $945 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $126k).
• Recommended offer: $111k (12.0% below list) — sets the bar for market timing.
• Cap rate 15.3% 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; 2 comparable units currently listed for rent nearby; 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 $870 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 $35k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 254 days — a 12% lower offer ($111k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 4y ago; this cycle's ask is 94% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $62k; list at $126k implies a 101% gain — meaningful room to come down on a strong offer.

Recommended offer $110,792 (12.0% below list)

Questions for the listing agent

1. It's been on market 254 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1969 — 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 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?
6. 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.
7. 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.
8. 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: 1.82% ✓
• Cap rate: 15.30%
• Cash-on-cash: 32.17%
• DSCR: 2.43
• GRM: 4.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 27.2%
• Equity multiple: 2.13×
• Total profit: $39,818
• Equity at exit: $18,772

10-year hold

• IRR: 34.8%
• Equity multiple: 4.19×
• Total profit: $112,312
• Equity at exit: $10,886

Cash invested: $35,252 (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: 4.6×

Monthly cashflow live

• Estimated rent: $2,298 medium
• Mortgage (P&I): −$660
• Tax est. 1.5%: −$157 /mo · $1,888/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$482
• Net cashflow: $945

Break-even live

Break-even rent $1,101

Max offer price $125,900

Occupancy floor 54%

Sensitivity live

Price	-10% $1,032	-5% $988	+0% $945	+5% $901	+10% $858
Rent	-10% $763	-5% $854	+0% $945	+5% $1,036	+10% $1,126
Rate	-1.0pp $1,008	-0.5pp $977	base $945	+0.5pp $912	+1.0pp $879

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: $31,475
• Closing costs: $3,777
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
246 W Maple St Sequim, WA	3.0	2.0	1200	$2,300	$1.92	44d	1	0.45mi
850 Tommy Ct Sequim, WA	3.0	2.0	1350	$2,300	$1.70	44d	1	0.93mi

Listing history 28 events

1. 2026-04-26
   status Pending
2. 2025-11-20
   soldstatus $62,500 Closed 697-char remark

   Show marketing remark (697 chars)

   Very affordable home in nice 55+ park. Modifications have been made for wheelchair accessibility, including a ramp to front door and widened doors/entryway to larger bedroom. Other recent upgrades include roof, walk-in shower and LVP flooring throughout. Private and peaceful fenced backyard receives full Southern exposure and features several planting areas and a spacious two level deck. Located in a quiet area close to downtown Sequim, near dining, shopping and other amenities. Hide-A-Way park allows up to two pets which are subject to park approval. Space rent is only $500/mo, and tenant will need pre-approval from park management. Get your broker and check this gem out, priced to sell!

3. 2025-10-28
   status Pending 697-char remark

   Show marketing remark (697 chars)

   Very affordable home in nice 55+ park. Modifications have been made for wheelchair accessibility, including a ramp to front door and widened doors/entryway to larger bedroom. Other recent upgrades include roof, walk-in shower and LVP flooring throughout. Private and peaceful fenced backyard receives full Southern exposure and features several planting areas and a spacious two level deck. Located in a quiet area close to downtown Sequim, near dining, shopping and other amenities. Hide-A-Way park allows up to two pets which are subject to park approval. Space rent is only $500/mo, and tenant will need pre-approval from park management. Get your broker and check this gem out, priced to sell!

4. 2025-10-12
   listed $65,000 Active 697-char remark

   Show marketing remark (697 chars)

   Very affordable home in nice 55+ park. Modifications have been made for wheelchair accessibility, including a ramp to front door and widened doors/entryway to larger bedroom. Other recent upgrades include roof, walk-in shower and LVP flooring throughout. Private and peaceful fenced backyard receives full Southern exposure and features several planting areas and a spacious two level deck. Located in a quiet area close to downtown Sequim, near dining, shopping and other amenities. Hide-A-Way park allows up to two pets which are subject to park approval. Space rent is only $500/mo, and tenant will need pre-approval from park management. Get your broker and check this gem out, priced to sell!

5. 2025-09-12
   soldstatus $123,500 Closed 613-char remark

   Show marketing remark (613 chars)

   Walk in and feel like you are home! 1980 2 bedroom, 1 bath home on a large lot with covered carport and fenced backyard. Quiet, peaceful Hide-A-Way Park in a rural setting close to Sequim. Primary bedroom has a large walk-in closet. Very private with an outside porch, covered carport and large attached storage room with power for your hobbies or gardening. Fenced backyard area with large covered outdoor space for BBQ's. Nicely landscaped. New paint inside & out. Lots of recent upgrades, Heat pump too! Don't miss this beautiful, affordable home. 55 plus Community with Pets allowed with Park Approval.

6. 2025-08-15
   listed $125,900 Active
7. 2025-07-28
   status Pending 613-char remark

   Show marketing remark (613 chars)

   Walk in and feel like you are home! 1980 2 bedroom, 1 bath home on a large lot with covered carport and fenced backyard. Quiet, peaceful Hide-A-Way Park in a rural setting close to Sequim. Primary bedroom has a large walk-in closet. Very private with an outside porch, covered carport and large attached storage room with power for your hobbies or gardening. Fenced backyard area with large covered outdoor space for BBQ's. Nicely landscaped. New paint inside & out. Lots of recent upgrades, Heat pump too! Don't miss this beautiful, affordable home. 55 plus Community with Pets allowed with Park Approval.

8. 2025-07-26
   listed $123,500 Active 613-char remark

   Show marketing remark (613 chars)

   Walk in and feel like you are home! 1980 2 bedroom, 1 bath home on a large lot with covered carport and fenced backyard. Quiet, peaceful Hide-A-Way Park in a rural setting close to Sequim. Primary bedroom has a large walk-in closet. Very private with an outside porch, covered carport and large attached storage room with power for your hobbies or gardening. Fenced backyard area with large covered outdoor space for BBQ's. Nicely landscaped. New paint inside & out. Lots of recent upgrades, Heat pump too! Don't miss this beautiful, affordable home. 55 plus Community with Pets allowed with Park Approval.

9. 2025-02-24
   soldstatus $90,000 Closed
10. 2025-01-21
    status Pending
11. 2025-01-18
    status Active
12. 2025-01-13
    status Pending
13. 2024-12-26
    price $99,000
14. 2024-11-22
    price $108,000
15. 2024-08-16
    price $120,000
16. 2024-07-16
    price $127,500
17. 2024-05-27
    price $135,000
18. 2024-03-14
    price $140,000
19. 2024-02-23
    listed $150,000 Active
20. 2022-07-15
    soldstatus $135,000 Closed
21. 2022-07-15
    soldstatus $135,000
22. 2022-07-04
    status Pending
23. 2022-06-17
    historical Active Under Contract
24. 2022-05-26
    listed $165,000 Active
25. 2018-08-20
    soldstatus $63,000
26. 2018-08-20
    soldstatus $63,500
27. 2018-04-12
    soldstatus $58,000
28. 2010-09-27
    soldstatus $1,450,000

ⓘ 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 · 15 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: $27,570
• − Mortgage interest: −$7,052
• − Property taxes: −$1,888
• − Insurance: −$630
• − Repairs & maintenance: −$2,206
• − Management: −$2,206
• − Depreciation: −$3,663
• Taxable income: $9,926
• Est. tax owed @ 24.0%: −$2,382
• After-tax cash flow: $8,957/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

-95.7% since first listed

28 events — show timeline

• 2026-04-26 Pending — OLS
• 2025-11-20 Sold (MLS) $62,500 OLS
• 2025-10-28 Pending — OLS
• 2025-10-12 Listed $65,000 OLS
• 2025-09-12 Sold (MLS) $123,500 OLS
• 2025-08-15 Listed $125,900 OLS
• 2025-07-28 Pending — OLS
• 2025-07-26 Listed $123,500 OLS
• 2025-02-24 Sold (MLS) $90,000 OLS
• 2025-01-21 Pending — OLS
• 2025-01-18 Relisted — OLS
• 2025-01-13 Pending — OLS
• 2024-12-26 Price Changed $99,000 OLS
• 2024-11-22 Price Changed $108,000 OLS
• 2024-08-16 Price Changed $120,000 OLS
• 2024-07-16 Price Changed $127,500 OLS
• 2024-05-27 Price Changed $135,000 OLS
• 2024-03-14 Price Changed $140,000 OLS
• 2024-02-23 Listed $150,000 OLS
• 2022-07-15 Sold (MLS) $135,000 OLS
• 2022-07-15 Sold (MLS) $135,000 NWMLS as Distributed by MLS Grid
• 2022-07-04 Pending — NWMLS as Distributed by MLS Grid
• 2022-06-17 Contingent — NWMLS as Distributed by MLS Grid
• 2022-05-26 Listed $165,000 NWMLS as Distributed by MLS Grid
• 2018-08-20 Sold (MLS) $63,500 OLS
• 2018-08-20 Sold (MLS) $63,000 OLS
• 2018-04-12 Sold (MLS) $58,000 OLS
• 2010-09-27 Sold (Public Records) $1,450,000 Public Records

Property tax history

+4.6%/yr

Latest (2026): $21,610 · +27.8% YoY. Source: county tax records.