325 N 5th Ave#38 Ave · Sequim, WA 98382

$79,000

2 bd · 2.0 ba · 960 sqft · Manufactured public records · 240 Days on market

Built 1990 $82/sqft · at area comps Est $80k · at est. ↓ 52% since listing

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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 +8.1/15.0
• 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 clean 2 Bedroom 2 bath home at West Alder Estate 960 Square feet with storage shed, carport, easy care living, walking distance to the amenities of Sequim. Nice covered porch with a large deck off the master bedroom. Mature landscaped yard

Key facts

• Carport
• Storage shed
• Built 1990

Tags

• STORAGE SHED
• CARPORT
• WALKING DISTANCE TO AMENITIES

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $79k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $79k).
• Recommended offer: $70k (12.0% below list) — sets the bar for market timing.
• Cap rate 21.8% 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; 1 comparable units currently listed for rent nearby; 166 units permitted in Clallam County in 2024 (0 in 5+ unit buildings).
• This rent runs 32% 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 $546 of loan paydown is wiped out by about $2k 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 $22k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 240 days — a 12% lower offer ($70k) is reasonable based on typical stale-listing flexibility.

Recommended offer $69,520 (12.0% below list)

Questions for the listing agent

1. It's been on market 240 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: 2.49% ✓
• Cap rate: 21.75%
• Cash-on-cash: 55.21%
• DSCR: 3.46
• GRM: 3.3

CMA / ARV

• ARV (median comp): $80,000
• List price: $79,000
• Delta: -1.25%
• Verdict: FAIR
• Comps: 18 within 1.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
610 W Spruce St #116	0.06mi	2/1.5	960 (0%)	5mo	$64,700	$67	91
610 W Spruce Street Dr	0.06mi	2/1.0	960 (0%)	8mo	$60,000	$63	87
325 N 5th Ave #40 Ave	0.00mi	2/2.0	1,056 (+10%)	2mo	$90,773	$86	82
634 N 7th Ave	0.31mi	2/2.0	1,028 (+7%)	11mo	$194,000	$189	65
791 Heritage Loop	0.42mi	2/2.0	960 (0%)	19mo	$230,000	$240	65
621 N 7th Ave	0.32mi	2/2.0	1,056 (+10%)	6mo	$215,000	$204	64
921 S 3rd Ave #20	0.73mi	2/1.0	960 (0%)	0mo	$125,900	$131	62
921 S 3rd Ave	0.73mi	2/1.0	960 (0%)	0mo	$125,900	$131	62
642 N 7th Ave	0.31mi	2/2.0	1,090 (+14%)	3mo	$140,000	$128	60
11 Juniper Mobile Ests	0.32mi	2/1.0	864 (-10%)	6mo	$74,900	$87	59
921 S 3rd St #33	0.73mi	2/1.0	960 (0%)	9mo	$123,500	$129	54

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: 53.5%
• Equity multiple: 3.35×
• Total profit: $52,036
• Equity at exit: $11,779

10-year hold

• IRR: 58.7%
• Equity multiple: 6.83×
• Total profit: $128,866
• Equity at exit: $6,830

Cash invested: $22,120 (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: 3.3×

Monthly cashflow live

• Estimated rent: $1,967 medium
• Mortgage (P&I): −$414
• Tax from tax record: −$89 /mo · $1,065/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$413
• Net cashflow: $1,018

Break-even live

Break-even rent $678

Max offer price $79,000

Occupancy floor 43%

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: $19,750
• Closing costs: $2,370
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1045 S 3rd Ave Unit 33 Sequim, WA	2.0	1.5	956	$2,100	$2.20	43d	1	0.86mi

Listing history 10 events

1. 2026-06-03
   days on market $79,000 Active 240 DOM
2. 2026-06-02
   days on market $79,000 Active 239 DOM
3. 2026-06-01
   days on market $79,000 Active 238 DOM
4. 2026-05-31
   days on market $79,000 Active 237 DOM
5. 2026-05-30
   days on market $79,000 Active 236 DOM
6. 2026-03-11
   price $79,000 244-char remark

   Show marketing remark (244 chars)

   Very clean 2 Bedroom 2 bath home at West Alder Estate 960 Square feet with storage shed, carport, easy care living, walking distance to the amenities of Sequim. Nice covered porch with a large deck off the master bedroom. Mature landscaped yard

7. 2026-02-26
   price $115,000 244-char remark

   Show marketing remark (244 chars)

   Very clean 2 Bedroom 2 bath home at West Alder Estate 960 Square feet with storage shed, carport, easy care living, walking distance to the amenities of Sequim. Nice covered porch with a large deck off the master bedroom. Mature landscaped yard

8. 2026-02-04
   price $139,000 244-char remark

   Show marketing remark (244 chars)

   Very clean 2 Bedroom 2 bath home at West Alder Estate 960 Square feet with storage shed, carport, easy care living, walking distance to the amenities of Sequim. Nice covered porch with a large deck off the master bedroom. Mature landscaped yard

9. 2025-10-31
   price $149,000 244-char remark

   Show marketing remark (244 chars)

   Very clean 2 Bedroom 2 bath home at West Alder Estate 960 Square feet with storage shed, carport, easy care living, walking distance to the amenities of Sequim. Nice covered porch with a large deck off the master bedroom. Mature landscaped yard

10. 2025-10-06
    listed $165,000 Active 244-char remark

    Show marketing remark (244 chars)

    Very clean 2 Bedroom 2 bath home at West Alder Estate 960 Square feet with storage shed, carport, easy care living, walking distance to the amenities of Sequim. Nice covered porch with a large deck off the master bedroom. Mature landscaped yard

ⓘ 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: $1,065 · $89/mo
• Projected year-2 tax: $1,065 · $89/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 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: $23,598
• − Mortgage interest: −$4,425
• − Property taxes: −$1,065
• − Insurance: −$395
• − Repairs & maintenance: −$1,888
• − Management: −$1,888
• − Depreciation: −$2,298
• Taxable income: $11,640
• Est. tax owed @ 24.0%: −$2,794
• After-tax cash flow: $9,418/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

-52.1% since first listed

5 events — show timeline

• 2026-03-11 Price Changed $79,000 OLS
• 2026-02-26 Price Changed $115,000 OLS
• 2026-02-04 Price Changed $139,000 OLS
• 2025-10-31 Price Changed $149,000 OLS
• 2025-10-06 Listed $165,000 OLS

Property tax history

+8.8%/yr

Latest (2026): $1,065 · +9.9% YoY. Source: county tax records.