1006 Cathleen St · Port Angeles, WA 98363

$514,900

3 bd · 3.0 ba · 2,200 sqft · SingleFamily public records · 78 Days on market

Built 2008 9,148 sqft lot Est $576k · 11% 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 +29.1/30.0
• ARV discount +12.3/15.0
• DSCR +10.0/10.0
• 1% rule +7.6/10.0
• Schools +5.2/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Two story colonial with 3 Bedrooms and 2.5 Baths located on a cul-de-sac street. Central Forced Air Furnace + a ductless heat pump on each level to keep the home warm in winter & cool in the summer. Main level features engineered hardwood, ceramic tile, formal dining room, living room open to the kitchen with breakfast bar. Upstairs features carpet, ceramic tile, Great Room/Den/Office with propane fireplace and 3 bedrooms including deck off Master Bedroom. Sold “AS IS”.

Key facts

• Formal dining room
• Cul-de-sac street
• Engineered hardwood

Tags

• CUL-DE-SAC STREET
• CENTRAL FORCED AIR FURNACE
• DUCTLESS HEAT PUMPS
• ENGINEERED HARDWOOD
• CERAMIC TILE
• FORMAL DINING ROOM

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath single-family listed at $515k.

Deal economics

• At list price, monthly cash flow is $2k ($21k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $515k).
• Recommended offer: $484k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.4% vs local median 2.8% in Port Angeles — 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 78/100 on livability (#138 in WA, #2,729 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, health & safety A+; Watch: employment C-, crime F.
• Port Angeles School District (town): math 55% / reading 65% proficiency, ranked #70 of 291 in WA (top 24%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Port Angeles High School (989 students, 57% FRL).
• Market conditions: 128 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $4k of loan paydown is wiped out by about $15k 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 $144k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 78 days — a 6% lower offer ($484k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 17y ago; this cycle's ask has dropped $40k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $484,006 (6.0% below list)

Questions for the listing agent

1. It's been on market 78 days. Have you received any prior offers? Is the seller open to a 6% 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. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 1.26% ✓
• Cap rate: 10.45%
• Cash-on-cash: 14.85%
• DSCR: 1.66
• GRM: 6.6

CMA / ARV

• ARV (on-the-fly): $576,400
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2131 W 7th St	0.33mi	3/2.0	2,040 (-7%)	4mo	$430,000	$211	65
1812 W 12th St	0.56mi	3/2.0	2,148 (-2%)	1mo	$456,000	$212	65
707 Seamount Dr	0.32mi	3/2.5	2,352 (+7%)	11mo	$578,000	$246	63
2140 W 6th St	0.34mi	2/2.0 (-1)	2,104 (-4%)	7mo	$559,000	$266	62
1816 W 5th St	0.66mi	3/3.0	2,176 (-1%)	7mo	$570,000	$262	62
2130 W 4th	0.48mi	3/2.5	2,114 (-4%)	10mo	$615,000	$291	61
2105 Seabreeze Pl	0.25mi	4/2.0 (+1)	1,898 (-14%)	10mo	$424,950	$224	49
1937 W 18th St	0.62mi	4/3.0 (+1)	2,388 (+8%)	10mo	$480,000	$201	44
1109 Walker St	0.43mi	4/2.0 (+1)	2,450 (+11%)	10mo	$659,500	$269	43
2016 W Fourth St	0.55mi	3/2.0	1,876 (-15%)	5mo	$469,000	$250	42
839 Milwaukee Dr	0.15mi	4/2.5 (+1)	1,870 (-15%)	24mo	$634,000	$339	41
2803 W 14th	0.57mi	4/2.5 (+1)	2,464 (+12%)	11mo	$790,000	$321	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: 5.4%
• Equity multiple: 1.21×
• Total profit: $30,126
• Equity at exit: $76,773

10-year hold

• IRR: 14.8%
• Equity multiple: 2.20×
• Total profit: $172,349
• Equity at exit: $44,519

Cash invested: $144,172 (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 98363

• Active inventory: 128
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $6,476 medium
• Mortgage (P&I): −$2,700
• Tax from tax record: −$418 /mo · $5,012/yr
• Insurance: −$215
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,360
• Net cashflow: $1,784

Break-even live

Break-even rent $4,218

Max offer price $514,900

Occupancy floor 67%

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: $128,725
• Closing costs: $15,447
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2114 W 6th St Unit 1336270P Port Angeles, WA	3.0	2.5	2497	$7,892	$3.16	43d	1	0.39mi
1426 W 4th St Port Angeles, WA	3.0	2.0	2388	$2,800	$1.17	43d	1	1.05mi

Listing history 24 events

1. 2026-03-25
   status Pending 492-char remark

   Show marketing remark (492 chars)

   Two story colonial with 3 Bedrooms and 2.5 Baths located on a cul-de-sac street. Central Forced Air Furnace + a ductless heat pump on each level to keep the home warm in winter & cool in the summer. Main level features engineered hardwood, ceramic tile, formal dining room, living room open to the kitchen with breakfast bar. Upstairs features carpet, ceramic tile, Great Room/Den/Office with propane fireplace and 3 bedrooms including deck off Master Bedroom. Sold “AS IS”.

2. 2026-03-25
   status Pending

   Show marketing remark (492 chars)

   Two story colonial with 3 Bedrooms and 2.5 Baths located on a cul-de-sac street. Central Forced Air Furnace + a ductless heat pump on each level to keep the home warm in winter & cool in the summer. Main level features engineered hardwood, ceramic tile, formal dining room, living room open to the kitchen with breakfast bar. Upstairs features carpet, ceramic tile, Great Room/Den/Office with propane fireplace and 3 bedrooms including deck off Master Bedroom. Sold “AS IS”.

3. 2026-03-20
   historical Active Under Contract 492-char remark

   Show marketing remark (492 chars)

   Two story colonial with 3 Bedrooms and 2.5 Baths located on a cul-de-sac street. Central Forced Air Furnace + a ductless heat pump on each level to keep the home warm in winter & cool in the summer. Main level features engineered hardwood, ceramic tile, formal dining room, living room open to the kitchen with breakfast bar. Upstairs features carpet, ceramic tile, Great Room/Den/Office with propane fireplace and 3 bedrooms including deck off Master Bedroom. Sold “AS IS”.

4. 2026-02-23
   price $514,900 492-char remark

   Show marketing remark (492 chars)

   Two story colonial with 3 Bedrooms and 2.5 Baths located on a cul-de-sac street. Central Forced Air Furnace + a ductless heat pump on each level to keep the home warm in winter & cool in the summer. Main level features engineered hardwood, ceramic tile, formal dining room, living room open to the kitchen with breakfast bar. Upstairs features carpet, ceramic tile, Great Room/Den/Office with propane fireplace and 3 bedrooms including deck off Master Bedroom. Sold “AS IS”.

5. 2026-02-23
   price $514,900

   Show marketing remark (492 chars)

   Two story colonial with 3 Bedrooms and 2.5 Baths located on a cul-de-sac street. Central Forced Air Furnace + a ductless heat pump on each level to keep the home warm in winter & cool in the summer. Main level features engineered hardwood, ceramic tile, formal dining room, living room open to the kitchen with breakfast bar. Upstairs features carpet, ceramic tile, Great Room/Den/Office with propane fireplace and 3 bedrooms including deck off Master Bedroom. Sold “AS IS”.

6. 2026-01-06
   listed $554,900 Active 492-char remark

   Show marketing remark (492 chars)

   Two story colonial with 3 Bedrooms and 2.5 Baths located on a cul-de-sac street. Central Forced Air Furnace + a ductless heat pump on each level to keep the home warm in winter & cool in the summer. Main level features engineered hardwood, ceramic tile, formal dining room, living room open to the kitchen with breakfast bar. Upstairs features carpet, ceramic tile, Great Room/Den/Office with propane fireplace and 3 bedrooms including deck off Master Bedroom. Sold “AS IS”.

7. 2026-01-06
   listed $554,900 Active

   Show marketing remark (492 chars)

   Two story colonial with 3 Bedrooms and 2.5 Baths located on a cul-de-sac street. Central Forced Air Furnace + a ductless heat pump on each level to keep the home warm in winter & cool in the summer. Main level features engineered hardwood, ceramic tile, formal dining room, living room open to the kitchen with breakfast bar. Upstairs features carpet, ceramic tile, Great Room/Den/Office with propane fireplace and 3 bedrooms including deck off Master Bedroom. Sold “AS IS”.

8. 2025-11-25
   price $443,773
9. 2025-11-20
   price $473,886
10. 2025-11-04
    price $400,000
11. 2025-10-20
    listed $225,000 Active
12. 2025-06-03
    status Active
13. 2025-04-24
    historical Active Under Contract
14. 2025-04-02
    listed $585,000 Active
15. 2023-06-22
    soldstatus $546,000 Closed
16. 2023-06-22
    soldstatus $546,000 Closed
17. 2023-06-22
    soldstatus $546,000
18. 2023-05-01
    historical
19. 2023-05-01
    status Pending
20. 2023-04-03
    listed $550,000 Active
21. 2023-03-29
    listed $550,000 Active
22. 2009-07-06
    soldstatus $264,400
23. 2009-06-26
    soldstatus $264,400
24. 2009-03-06
    listed $267,900

ⓘ 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: $5,012 · $418/mo
• Projected year-2 tax: $5,046 · $421/mo
• Expected delta: +$34/yr (+$3/mo · 0.7%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 8 d/yr ≥82°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 6/10 Major 7 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $77,712
• − Mortgage interest: −$28,842
• − Property taxes: −$5,012
• − Insurance: −$2,574
• − Repairs & maintenance: −$6,217
• − Management: −$6,217
• − Depreciation: −$14,979
• Taxable income: $13,871
• Est. tax owed @ 24.0%: −$3,329
• After-tax cash flow: $18,075/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: Port Angeles School District
• NCES district ID: 5306820
• Math proficiency: 55% ▬ 0.00%
• Reading proficiency: 65% ▲ 1.00%
• Median HH income: $46,594
• Composite: 52.34/100
• National rank: #3432
• State rank: #70 of 291 in WA

Livability — Port Angeles

• Score: 78/100
• State rank: #138
• US rank: #2729

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Port Angeles, WA
• Population (ZIP): 14,644

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 (80%)
• Race & ethnicity: White 80% Two or more races 9% Hispanic / Latino 6% Native American 5%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Italian 8% Portuguese 6% Slovak 4%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 2%

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: ▼ -269.47%
• Current HPI: 198.0851
• Rent YoY: —
• Metro: —
• 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

+92.2% since first listed

24 events — show timeline

• 2026-03-25 Pending — OLS
• 2026-03-25 Pending — NWMLS as Distributed by MLS Grid
• 2026-03-20 Contingent — OLS
• 2026-02-23 Price Changed $514,900 OLS
• 2026-02-23 Price Changed $514,900 NWMLS as Distributed by MLS Grid
• 2026-01-06 Listed $554,900 NWMLS as Distributed by MLS Grid
• 2026-01-06 Listed $554,900 OLS
• 2025-11-25 Price Changed $443,773 OLS
• 2025-11-20 Price Changed $473,886 OLS
• 2025-11-04 Price Changed $400,000 OLS
• 2025-10-20 Listed $225,000 OLS
• 2025-06-03 Relisted — OLS
• 2025-04-24 Contingent — OLS
• 2025-04-02 Listed $585,000 OLS
• 2023-06-22 Sold (Public Records) $546,000 Public Records
• 2023-06-22 Sold (MLS) $546,000 OLS
• 2023-06-22 Sold (MLS) $546,000 NWMLS as Distributed by MLS Grid
• 2023-05-01 Delisted — OLS
• 2023-05-01 Pending — NWMLS as Distributed by MLS Grid
• 2023-04-03 Listed $550,000 OLS
• 2023-03-29 Listed $550,000 NWMLS as Distributed by MLS Grid
• 2009-07-06 Sold (MLS) $264,400 NWMLS as Distributed by MLS Grid
• 2009-06-26 Sold (Public Records) $264,400 Public Records
• 2009-03-06 Listed $267,900 NWMLS as Distributed by MLS Grid

Property tax history

+5.8%/yr

Latest (2026): $5,012 · +13.8% YoY. Source: county tax records.