628 N 7th · Sequim, WA 98382

$215,000

3 bd · 2.0 ba · 1,604 sqft · Manufactured public records · 143 Days on market

Built 1991 $134/sqft · at area comps Est $213k · at est.

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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 +25.6/30.0
• DSCR +8.5/10.0
• ARV discount +7.0/15.0
• 1% rule +6.7/10.0
• 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

Well designed home offers 2 bedrooms, 2 baths, and a dedicated office/ craft room, providing flexible space for work and everyday living. The open kitchen flows into a spacious dining and living area, perfect for entertaining or relaxing at home. The large primary bedroom features a sliding door with direct access to the fenced backyard, creating an ideal indoor-outdoor connection. A generous laundry room with built-in workspace adds extra functionality, while ample closets and cabinetry throughout provide excellent storage. Additional highlights include upgraded flooring, a 1-car garage, and a private backyard with garden area, perfect for outdoor enjoyment.

Key facts

• Ample closets
• Built-in workspace
• Open kitchen

Tags

• DEDICATED OFFICE CRAFT ROOM
• OPEN KITCHEN
• SPACIOUS DINING LIVING AREA
• GENEROUS LAUNDRY ROOM
• BUILT-IN WORKSPACE
• AMPLE CLOSETS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $215k.

Deal economics

• At list price, monthly cash flow is $507 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $215k).
• Recommended offer: $189k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.1% 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.

Negotiation context

• It's been on market 143 days — a 12% lower offer ($189k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $95k; list at $215k implies a 126% gain — meaningful room to come down on a strong offer.

Recommended offer $189,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 143 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.17% ✓
• Cap rate: 9.12%
• Cash-on-cash: 10.10%
• DSCR: 1.45
• GRM: 7.1

CMA / ARV

• ARV (median comp): $212,864
• List price: $215,000
• Delta: 1.00%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
645 N 7th	0.03mi	3/2.0	1,612 (+0%)	1mo	$249,950	$155	96
610 N 7th Ave	0.04mi	3/2.0	1,600 (-0%)	8mo	$205,000	$128	91
629 N 7th Ave	0.04mi	3/2.0	1,630 (+2%)	9mo	$261,700	$161	88
508 N 7th Ave	0.15mi	2/2.0 (-1)	1,502 (-6%)	3mo	$240,000	$160	75
507 N 7th Ave	0.16mi	2/2.0 (-1)	1,502 (-6%)	5mo	$235,000	$156	73
747 W Heritage Loop	0.16mi	2/2.0 (-1)	1,458 (-9%)	1mo	$250,000	$171	72
891 N Portside Way	0.43mi	2/2.0 (-1)	1,642 (+2%)	6mo	$300,000	$183	66
734 Heritage Loop	0.13mi	2/2.0 (-1)	1,458 (-9%)	9mo	$335,000	$230	66
420 W Cove Ln	0.54mi	3/2.0	1,772 (+10%)	0mo	$320,000	$181	57
51 Juniper Mobile Ests	0.41mi	2/2.0 (-1)	1,442 (-10%)	9mo	$135,000	$94	52
325 N Fifth Ave #34	0.29mi	2/2.0 (-1)	1,388 (-14%)	9mo	$190,000	$137	52
626 N Priest Rd	0.56mi	2/2.0 (-1)	1,728 (+8%)	8mo	$500,000	$289	49

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: -1.1%
• Equity multiple: 0.96×
• Total profit: $-2,534
• Equity at exit: $32,057

10-year hold

• IRR: 8.6%
• Equity multiple: 1.66×
• Total profit: $39,496
• Equity at exit: $18,589

Cash invested: $60,200 (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: 7.1×

Monthly cashflow live

• Estimated rent: $2,522 medium
• Mortgage (P&I): −$1,127
• Tax est. 1.5%: −$269 /mo · $3,225/yr
• Insurance: −$90
• HOA: −$0
• Vacancy / Maint / Mgmt: −$530
• Net cashflow: $507

Break-even live

Break-even rent $1,881

Max offer price $215,000

Occupancy floor 75%

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: $53,750
• Closing costs: $6,450
• 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	43d	1	0.32mi
522 W Evergreen Farm Way Sequim, WA	2.0	2.0	1336	$2,450	$1.83	43d	1	0.55mi
246 W Maple St Sequim, WA	3.0	2.0	1200	$2,300	$1.92	43d	1	0.77mi

Listing history 18 events

1. 2026-06-19
   days on market $215,000 Active 143 DOM
2. 2026-06-18
   days on market $215,000 Active 142 DOM
3. 2026-06-17
   days on market $215,000 Active 141 DOM
4. 2026-06-16
   days on market $215,000 Active 140 DOM
5. 2026-06-15
   days on market $215,000 Active 139 DOM
6. 2026-06-14
   days on market $215,000 Active 137 DOM
7. 2026-06-12
   days on market $215,000 Active 136 DOM
8. 2026-06-09
   days on market $215,000 Active 133 DOM
9. 2026-06-08
   days on market $215,000 Active 132 DOM
10. 2026-06-07
    statusdays on market $215,000 Active 131 DOM
11. 2026-06-01
    status $215,000 Pending 130 DOM
12. 2026-06-01
    days on market $215,000 Active 130 DOM
13. 2026-05-31
    days on market $215,000 Active 129 DOM
14. 2026-05-30
    days on market $215,000 Active 128 DOM
15. 2026-04-01
    price $215,000 667-char remark

    Show marketing remark (667 chars)

    Well designed home offers 2 bedrooms, 2 baths, and a dedicated office/ craft room, providing flexible space for work and everyday living. The open kitchen flows into a spacious dining and living area, perfect for entertaining or relaxing at home. The large primary bedroom features a sliding door with direct access to the fenced backyard, creating an ideal indoor-outdoor connection. A generous laundry room with built-in workspace adds extra functionality, while ample closets and cabinetry throughout provide excellent storage. Additional highlights include upgraded flooring, a 1-car garage, and a private backyard with garden area, perfect for outdoor enjoyment.

16. 2026-03-02
    price $229,000 667-char remark

    Show marketing remark (667 chars)

    Well designed home offers 2 bedrooms, 2 baths, and a dedicated office/ craft room, providing flexible space for work and everyday living. The open kitchen flows into a spacious dining and living area, perfect for entertaining or relaxing at home. The large primary bedroom features a sliding door with direct access to the fenced backyard, creating an ideal indoor-outdoor connection. A generous laundry room with built-in workspace adds extra functionality, while ample closets and cabinetry throughout provide excellent storage. Additional highlights include upgraded flooring, a 1-car garage, and a private backyard with garden area, perfect for outdoor enjoyment.

17. 2026-01-22
    listed $239,000 Active 667-char remark

    Show marketing remark (667 chars)

    Well designed home offers 2 bedrooms, 2 baths, and a dedicated office/ craft room, providing flexible space for work and everyday living. The open kitchen flows into a spacious dining and living area, perfect for entertaining or relaxing at home. The large primary bedroom features a sliding door with direct access to the fenced backyard, creating an ideal indoor-outdoor connection. A generous laundry room with built-in workspace adds extra functionality, while ample closets and cabinetry throughout provide excellent storage. Additional highlights include upgraded flooring, a 1-car garage, and a private backyard with garden area, perfect for outdoor enjoyment.

18. 2016-11-01
    soldstatus $95,000 291-char remark

    Show marketing remark (291 chars)

    Neat & clean double wide home located in Hendrickson mobile home park a 55 or older park. This 1604 sqft home is in a great in-town location with easy access to shopping, medical facilities and all down town. The roof was replaced 6 years ago and the exterior was painted last year.

ⓘ 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 FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥83°F today · 17 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: $30,265
• − Mortgage interest: −$12,043
• − Property taxes: −$3,225
• − Insurance: −$1,075
• − Repairs & maintenance: −$2,421
• − Management: −$2,421
• − Depreciation: −$6,255
• Taxable income: $2,825
• Est. tax owed @ 24.0%: −$678
• After-tax cash flow: $5,402/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

+126.3% since first listed

4 events — show timeline

• 2026-04-01 Price Changed $215,000 OLS
• 2026-03-02 Price Changed $229,000 OLS
• 2026-01-22 Listed $239,000 OLS
• 2016-11-01 Sold (MLS) $95,000 OLS

Property tax history

-13.6%/yr

Latest (2026): $119 · +4.6% YoY. Source: county tax records.