325 N 5th Ave #48 Ave · Sequim, WA 98382

$199,000

2 bd · 2.0 ba · 1,614 sqft · Manufactured public records · 50 Days on market

Built 1989 $123/sqft · 7% below area Est $213k · 7% under

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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 +27.5/30.0
• ARV discount +10.4/15.0
• DSCR +9.6/10.0
• 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

Nice and Clean West Alder Estates 1600 + sq. ft. , 3 bedroom, 2 bath, spacious Living/Dining area, kitchen with breakfast bar, built-in desk & skylight, sunny Family Room & indoor laundry. Relaxing covered deck, Heat Pump & 2 ceiling fans, Attached 1-car garage. Separate enclosed workshop/storage room. Indoor pets are allowed with some restrictions. According to the current Rules & Regs. , home must be owner-occupied and that at least one person needs to be 55 years. Others need to be a minimum of 45 years.

Key facts

• Garage
• Built 1989
• Listed 49 days

Property features AI

Exterior

• Parking: 1-car garage; Paved parking
• Security: Gated community
• Utilities: Public water; Public sewer
• Home design: Manufactured home; Residential property
• Construction: Wood siding; Composition roof
• Exterior features: Storage; Workshop; Deck; Level lot; Irregular lot dimensions; Has a view

Interior

• Kitchen: Dishwasher; Double oven; Oven; Range; Refrigerator
• Flooring: Vinyl flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Heat pump heating; Ceiling fan(s) for cooling
• Interior features: Breakfast bar; Eat-in kitchen; Skylight(s)

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $199k.

Deal economics

• At list price, monthly cash flow is $587 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $199k).
• Recommended offer: $193k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.8% 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; 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 38% 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $56k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 50 days — a 3% lower offer ($193k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 11y ago; this cycle's ask has dropped $30k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $193,030 (3.0% below list)

Questions for the listing agent

1. It's been on market 50 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 9.83%
• Cash-on-cash: 12.65%
• DSCR: 1.56
• GRM: 7.1

CMA / ARV

• ARV (median comp): $212,864
• List price: $199,000
• Delta: 2.88%
• 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	0.31mi	3/2.0 (+1)	1,612 (-0%)	1mo	$249,950	$155	79
508 N 7th Ave	0.16mi	2/2.0	1,502 (-7%)	3mo	$240,000	$160	78
610 N 7th Ave	0.26mi	3/2.0 (+1)	1,600 (-1%)	8mo	$205,000	$128	74
507 N 7th Ave	0.22mi	2/2.0	1,502 (-7%)	5mo	$235,000	$156	74
629 N 7th Ave	0.31mi	3/2.0 (+1)	1,630 (+1%)	9mo	$261,700	$161	71
747 W Heritage Loop	0.27mi	2/2.0	1,458 (-10%)	1mo	$250,000	$171	70
325 N Fifth Ave #34	0.00mi	2/2.0	1,388 (-14%)	9mo	$190,000	$137	69
891 N Portside Way	0.58mi	2/2.0	1,642 (+2%)	6mo	$300,000	$183	65
734 Heritage Loop	0.33mi	2/2.0	1,458 (-10%)	9mo	$335,000	$230	61
51 Juniper Mobile Ests	0.31mi	2/2.0	1,442 (-11%)	9mo	$135,000	$94	60
626 N Priest Rd	0.75mi	2/2.0	1,728 (+7%)	8mo	$500,000	$289	47
420 W Cove Ln	0.68mi	3/2.0 (+1)	1,772 (+10%)	0mo	$320,000	$181	47

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: 2.4%
• Equity multiple: 1.09×
• Total profit: $5,110
• Equity at exit: $29,672

10-year hold

• IRR: 11.9%
• Equity multiple: 1.94×
• Total profit: $52,430
• Equity at exit: $17,206

Cash invested: $55,720 (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: $2,320 medium
• Mortgage (P&I): −$1,044
• Tax from tax record: −$119 /mo · $1,433/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$487
• Net cashflow: $587

Break-even live

Break-even rent $1,577

Max offer price $199,000

Occupancy floor 70%

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: $49,750
• Closing costs: $5,970
• 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	44d	1	0.35mi
246 W Maple St Sequim, WA	3.0	2.0	1200	$2,300	$1.92	44d	1	0.49mi
522 W Evergreen Farm Way Sequim, WA	2.0	2.0	1336	$2,450	$1.83	44d	1	0.80mi

Listing history 31 events

1. 2026-06-19
   pricedays on market $199,000 Active 50 DOM
2. 2026-06-18
   days on market $219,000 Active 49 DOM
3. 2026-06-17
   days on market $219,000 Active 48 DOM
4. 2026-06-16
   days on market $219,000 Active 47 DOM
5. 2026-06-15
   days on market $219,000 Active 46 DOM
6. 2026-06-14
   days on market $219,000 Active 44 DOM
7. 2026-06-12
   days on market $219,000 Active 43 DOM
8. 2026-06-09
   days on market $219,000 Active 40 DOM
9. 2026-06-08
   days on market $219,000 Active 39 DOM
10. 2026-06-07
    days on market $219,000 Active 38 DOM
11. 2026-06-05
    days on market $219,000 Active 35 DOM
12. 2026-06-03
    days on market $219,000 Active 34 DOM
13. 2026-06-02
    days on market $219,000 Active 33 DOM
14. 2026-06-01
    days on market $219,000 Active 32 DOM
15. 2026-05-31
    days on market $219,000 Active 31 DOM
16. 2026-05-30
    days on market $219,000 Active 30 DOM
17. 2026-04-30
    listed $229,000 Active 918-char remark
18. 2025-12-04
    soldstatus $203,000 Closed
19. 2025-11-16
    status Pending
20. 2025-10-27
    listed $214,000 Active
21. 2023-10-20
    soldstatus $175,000 Closed
22. 2023-09-06
    status Pending
23. 2023-08-21
    status Active
24. 2023-08-17
    status Pending
25. 2023-08-15
    listed $179,000 Active
26. 2023-01-26
    soldstatus $170,000 536-char remark

    Show marketing remark (536 chars)

    Nice and Clean West Alder Estates 1600 + sq. ft. , 3 bedroom, 2 bath, spacious Living/Dining area, kitchen with breakfast bar, built-in desk & skylight, sunny Family Room & indoor laundry. Relaxing covered deck, Heat Pump & 2 ceiling fans, Attached 1-car garage. Separate enclosed workshop/storage room. Indoor pets are allowed with some restrictions. According to the current Rules & Regs. , home must be owner-occupied and that at least one person needs to be 55 years. Others need to be a minimum of 45 years.

27. 2023-01-26
    soldstatus $170,000 Closed

    Show marketing remark (536 chars)

    Nice and Clean West Alder Estates 1600 + sq. ft. , 3 bedroom, 2 bath, spacious Living/Dining area, kitchen with breakfast bar, built-in desk & skylight, sunny Family Room & indoor laundry. Relaxing covered deck, Heat Pump & 2 ceiling fans, Attached 1-car garage. Separate enclosed workshop/storage room. Indoor pets are allowed with some restrictions. According to the current Rules & Regs. , home must be owner-occupied and that at least one person needs to be 55 years. Others need to be a minimum of 45 years.

28. 2022-12-27
    status Pending
29. 2022-12-09
    listed $179,000 Active
30. 2015-09-10
    soldstatus $58,000

    Show marketing remark (505 chars)

    Lots of light from skylights, large format newer windows throughout, a covered west facing patio and a kitchen facing east. Upgrades to this 3 BD/2 BA home include new SS appliances, new laminate in living room, new trex deck with custom iron railing. The 1,614 SF gives you both a living room, great room, large utility room, pantry and a large master suite plus two guest bedrooms and two full baths. The raised garden bed with a sprinkler system is bursting with fresh veggies. Garage and workshop too!

31. 2015-05-27
    listed

ⓘ 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: $1,433 · $119/mo
• Projected year-2 tax: $1,950 · $163/mo
• Expected delta: +$518/yr (+$43/mo · 36.1%)

ⓘ 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: $27,845
• − Mortgage interest: −$11,147
• − Property taxes: −$1,433
• − Insurance: −$995
• − Repairs & maintenance: −$2,228
• − Management: −$2,228
• − Depreciation: −$5,789
• Taxable income: $4,026
• Est. tax owed @ 24.0%: −$966
• After-tax cash flow: $6,081/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

+277.6% since first listed

16 events — show timeline

• 2026-05-23 Price Changed $219,000 OLS
• 2026-04-30 Listed $229,000 OLS
• 2025-12-04 Sold (MLS) $203,000 NWMLS as Distributed by MLS Grid
• 2025-11-16 Pending — NWMLS as Distributed by MLS Grid
• 2025-10-27 Listed $214,000 NWMLS as Distributed by MLS Grid
• 2023-10-20 Sold (MLS) $175,000 NWMLS as Distributed by MLS Grid
• 2023-09-06 Pending — NWMLS as Distributed by MLS Grid
• 2023-08-21 Relisted — NWMLS as Distributed by MLS Grid
• 2023-08-17 Pending — NWMLS as Distributed by MLS Grid
• 2023-08-15 Listed $179,000 NWMLS as Distributed by MLS Grid
• 2023-01-26 Sold (MLS) $170,000 NWMLS as Distributed by MLS Grid
• 2023-01-26 Sold (MLS) $170,000 OLS
• 2022-12-27 Pending — NWMLS as Distributed by MLS Grid
• 2022-12-09 Listed $179,000 NWMLS as Distributed by MLS Grid
• 2015-09-10 Sold (MLS) $58,000 OLS
• 2015-05-27 Listed — NWMLS as Distributed by MLS Grid

Property tax history

+14.8%/yr

Latest (2026): $1,433 · +9.9% YoY. Source: county tax records.