199 Wishkah St SW · Ocean Shores, WA 98569

$240,000

2 bd · 1.0 ba · 960 sqft · SingleFamily public records · 120 Days on market

Built 1970 8,464 sqft lot $250/sqft · 33% below area Est $356k · 33% under

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Why this score? — see what drove the D 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).

• ARV discount +15.0/15.0
• Cash flow +10.2/30.0
• Schools +3.4/10.0
• Livability +3.1/5.0
• DSCR +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Cute little beach cabin tucked away on a spacious corner lot offering tons of potential for the right buyer. This cozy getaway features a galley kitchen with ample storage and a breakfast counter, plus a bright , roomy dining area ideal for entertaining. A pellet stove helps keep the home warm and comfortable during the winter months. Two good sized bedrooms and a sleeping loft provide flexible living space. the property includes an attached one car garage with laundry and shop area, a single carport and a long deck for outdoor enjoyment. With some work and TLC, this cabin could truly shine. Just minutes from the beach for endless coastal fun!

Key facts

• Galley kitchen
• Attached garage
• Sleeping loft

Tags

• GALLEY KITCHEN
• BREAKFAST COUNTER
• DINING AREA
• PELLET STOVE
• SLEEPING LOFT
• ATTACHED GARAGE

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $240k.

Deal economics

• At list price, monthly cash flow is $-137 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $216k (10.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $169k (29.7% below list).
• Recommended offer: $169k (29.7% below list) — sets the bar for 1% rule.
• Cap rate 5.6% vs local median 3.1% in Ocean Shores — 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 62/100 on livability (#424 in WA) — a middle-class / working-renter tenant base. Strengths: housing A; Watch: schools C-, crime C-, health & safety C-.
• North Beach School District (rural): math 32% / reading 44% proficiency, ranked #236 of 291 in WA (top 81%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 63% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 653 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 297 units permitted in Grays Harbor County in 2024 (17 in 5+ unit buildings).
• This rent runs 35% of the median local income ($58k/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 $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Grays Harbor County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 120 days — a 9% lower offer ($218k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 24y ago; this cycle's ask has dropped $25k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $99k; list at $240k implies a 142% gain — meaningful room to come down on a strong offer.

Recommended offer $168,688 (29.7% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 120 days. Have you received any prior offers? Is the seller open to a 30% concession, seller financing, or rate buy-down credit?
3. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.70% ✗
• Cap rate: 5.61%
• Cash-on-cash: -2.45%
• DSCR: 0.89
• GRM: 11.9

CMA / ARV

• ARV (median comp): $356,400
• List price: $240,000
• Delta: -32.66%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
150 N Wynoochee Dr SW	0.15mi	2/1.0	880 (-8%)	3mo	$284,950	$324	77
399 N Razor Clam Dr SW	0.45mi	2/2.0	936 (-2%)	2mo	$353,000	$377	70
406 SW Ocean Shores Blvd	0.55mi	2/1.0	952 (-1%)	7mo	$150,001	$158	67
167 Polaris Blvd SW	0.70mi	2/1.0	962 (+0%)	2mo	$300,000	$312	66
148 Seagate St SW	0.62mi	3/1.0 (+1)	960 (0%)	5mo	$270,000	$281	62
137 Spruce Loop SW	0.66mi	2/1.0	884 (-8%)	0mo	$223,000	$252	56
462 Ebb Ct SW	0.63mi	2/1.0	884 (-8%)	4mo	$325,000	$368	54
585 Ocean Shores Blvd SW	0.36mi	2/1.0	1,102 (+15%)	6mo	$342,500	$311	54
649 Sollecks Ave SE	0.58mi	2/1.5	864 (-10%)	4mo	$292,000	$338	52
345 Mount Olympus Ave SE	0.61mi	2/1.0	834 (-13%)	4mo	$265,000	$318	46
436 Seashore St SW	0.67mi	2/1.0	816 (-15%)	8mo	$289,000	$354	37
613 Willipa Ct SE	0.57mi	3/1.5 (+1)	1,086 (+13%)	10mo	$249,000	$229	37

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: -20.4%
• Equity multiple: 0.29×
• Total profit: $-47,721
• Equity at exit: $35,785

10-year hold

• IRR: -13.7%
• Equity multiple: 0.21×
• Total profit: $-53,176
• Equity at exit: $20,751

Cash invested: $67,200 (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 98569

• Home prices YoY: -3.4%
• Active inventory: 653
• Price-to-rent: 11.9×

Monthly cashflow live

• Estimated rent: $1,687 medium
• Mortgage (P&I): −$1,259
• Tax from tax record: −$111 /mo · $1,335/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$354
• Net cashflow: $-137

Break-even live

Break-even rent $1,861

Max offer price $215,758

Occupancy floor —

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: $60,000
• Closing costs: $7,200
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
230 Point Brown Ave SE Ocean Shores, WA	2.0	1.0	840	$2,100	$2.50	43d	1	0.89mi

Listing history 27 events

1. 2026-06-19
   days on market $240,000 Active 120 DOM
2. 2026-06-18
   days on market $240,000 Active 119 DOM
3. 2026-06-17
   days on market $240,000 Active 118 DOM
4. 2026-06-16
   days on market $240,000 Active 117 DOM
5. 2026-06-15
   days on market $240,000 Active 116 DOM
6. 2026-06-14
   days on market $240,000 Active 114 DOM
7. 2026-06-12
   days on market $240,000 Active 113 DOM
8. 2026-06-09
   days on market $240,000 Active 110 DOM
9. 2026-06-08
   days on market $240,000 Active 109 DOM
10. 2026-06-07
    days on market $240,000 Active 108 DOM
11. 2026-06-05
    days on market $240,000 Active 105 DOM
12. 2026-06-03
    days on market $240,000 Active 104 DOM
13. 2026-06-02
    days on market $240,000 Active 103 DOM
14. 2026-06-01
    days on market $240,000 Active 102 DOM
15. 2026-05-31
    days on market $240,000 Active 101 DOM
16. 2026-05-30
    days on market $240,000 Active 100 DOM
17. 2026-04-16
    price $240,000
18. 2026-02-19
    listed $265,000 Active
19. 2010-10-19
    historical
20. 2010-10-15
    soldstatus $99,000 Sold
21. 2010-10-15
    soldstatus $99,000
22. 2010-10-04
    status Pending
23. 2010-10-01
    listed $99,000 Active
24. 2003-02-27
    soldstatus $72,000
25. 2003-01-29
    soldstatus $68,000
26. 2002-07-23
    listed $75,000
27. 2002-03-18
    soldstatus $34,500

ⓘ 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: $1,335 · $111/mo
• Projected year-2 tax: $2,352 · $196/mo
• Expected delta: +$1,017/yr (+$85/mo · 76.1%)

ⓘ 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 1/10 Low
• 🌡 Heat 1/10 Low 7 d/yr ≥72°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 5/10 Major 6 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,243
• − Mortgage interest: −$13,444
• − Property taxes: −$1,335
• − Insurance: −$1,200
• − Repairs & maintenance: −$1,619
• − Management: −$1,619
• − Depreciation: −$6,982
• Taxable loss: −$5,957
• Est. tax savings @ 24.0%: +$1,430
• After-tax cash flow: $-217/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: North Beach School District
• NCES district ID: 5305700
• Math proficiency: 32% ▼ -4.00%
• Reading proficiency: 44% ▬ 0.00%
• Median HH income: $40,966
• Composite: 34.46/100
• National rank: #10153
• State rank: #236 of 291 in WA

Livability — Ocean Shores

• Score: 62/100
• State rank: #424
• US rank: #16852

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ocean Shores, WA
• County: Grays Harbor County · 44,693 people
• City population: 7,187
• Metro: Aberdeen, WA
• Population (ZIP): 7,489
• Household income: $58,378
• Rent vs Own: 17.0% rent · 83.0% own
• Severe rent burden: 172.0

Population outlook (Grays Harbor County) Hauer SSP2

• Today (2025): 66,443 people
• By 2030: 63,255 · -4.8%
• By 2040: 56,466 · -15.0%
• By 2050: 50,516 · -24.0%
• By 2075: 39,296 · -40.9%
• By 2100: 31,142 · -53.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Two or more races 5% Hispanic / Latino 4% Asian 3% Native American 3%
• Common ancestry: Portuguese 8% Iranian 5% Lithuanian 4%
• Foreign-born: 5% · Canada
• Languages at home: 92% English-only · Spanish 3% Tagalog/Filipino 2% German/W. Germanic 2%

Political lean MEDSL · Grays Harbor

• 2024 margin: Lean R (+6.0) · D 45.6% · R 51.6% · Other 2.8%
• 2008→2024 swing: -20.6pp toward R · 2008: 14.6pp · 2024: -6.0pp
• All cycles: 2024: R+6.0 2020: R+6.6 2016: R+7.1 2012: D+14.0 2008: D+14.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -13.33%
• Current HPI: 380.05
• Rent YoY: —
• Metro: Aberdeen, 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

+595.7% since first listed

11 events — show timeline

• 2026-04-16 Price Changed $240,000 NWMLS as Distributed by MLS Grid
• 2026-02-19 Listed $265,000 NWMLS as Distributed by MLS Grid
• 2010-10-19 Delisted — NWMLS as Distributed by MLS Grid
• 2010-10-15 Sold (Public Records) $99,000 Public Records
• 2010-10-15 Sold (MLS) $99,000 NWMLS as Distributed by MLS Grid
• 2010-10-04 Pending — NWMLS as Distributed by MLS Grid
• 2010-10-01 Listed $99,000 NWMLS as Distributed by MLS Grid
• 2003-02-27 Sold (MLS) $72,000 NWMLS as Distributed by MLS Grid
• 2003-01-29 Sold (Public Records) $68,000 Public Records
• 2002-07-23 Listed $75,000 NWMLS as Distributed by MLS Grid
• 2002-03-18 Sold (Public Records) $34,500 Public Records

Property tax history

+2.1%/yr

Latest (2026): $1,335 · +2.2% YoY. Source: county tax records.