628 N 7th Ave #12 · Sequim, WA 98382

$215,000

2 bd · 2.0 ba · 1,604 sqft · Manufactured · 143 Days on market

Built 1991 Average condition $134/sqft · at area comps Est $213k · at est. ↓ 10% since listing

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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 +22.2/30.0
• DSCR +7.1/10.0
• ARV discount +7.0/15.0
• 1% rule +5.8/10.0
• Schools +5.3/10.0
• Livability +3.5/5.0
• Condition / age +2.8/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

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

• Built-in workspace
• Open kitchen
• Garage

Tags

• DEDICATED OFFICE CRAFT ROOM
• OPEN KITCHEN
• SPACIOUS DINING LIVING AREA
• SLIDING DOOR ACCESS BACKYARD
• GENEROUS LAUNDRY ROOM
• BUILT-IN WORKSPACE

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $215k. Condition is rated average.

Deal economics

• At list price, monthly cash flow is $350 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $215k).
• Recommended offer: $189k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.2% 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 45d 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.

Negotiation context

• It's been on market 143 days — a 12% lower offer ($189k) is reasonable based on typical stale-listing flexibility.

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: 1.08% ✓
• Cap rate: 8.25%
• Cash-on-cash: 6.98%
• DSCR: 1.31
• GRM: 7.7

CMA / ARV

• ARV (median comp): $212,857
• List price: $215,000
• Delta: 1.01%
• 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	0.05mi	3/2.0 (+1)	1,612 (+0%)	2mo	$249,950	$155	91
610 N 7th Ave	0.02mi	3/2.0 (+1)	1,600 (-0%)	8mo	$205,000	$128	86
629 N 7th Ave	0.06mi	3/2.0 (+1)	1,630 (+2%)	9mo	$261,700	$161	82
508 N 7th Ave	0.12mi	2/2.0	1,502 (-6%)	3mo	$240,000	$160	81
507 N 7th Ave	0.14mi	2/2.0	1,502 (-6%)	5mo	$235,000	$156	79
747 W Heritage Loop	0.15mi	2/2.0	1,458 (-9%)	1mo	$250,000	$171	77
734 Heritage Loop	0.14mi	2/2.0	1,458 (-9%)	9mo	$335,000	$230	71
891 N Portside Way	0.44mi	2/2.0	1,642 (+2%)	6mo	$300,000	$183	70
325 N Fifth Ave #34	0.26mi	2/2.0	1,388 (-14%)	9mo	$190,000	$137	58
51 Juniper Mobile Ests	0.39mi	2/2.0	1,442 (-10%)	9mo	$135,000	$94	58
626 N Priest Rd	0.57mi	2/2.0	1,728 (+8%)	8mo	$500,000	$289	54
420 W Cove Ln	0.55mi	3/2.0 (+1)	1,772 (+10%)	0mo	$320,000	$181	52

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: -5.6%
• Equity multiple: 0.79×
• Total profit: $-12,498
• Equity at exit: $32,057

10-year hold

• IRR: 4.1%
• Equity multiple: 1.30×
• Total profit: $17,983
• 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: 7.7×

Monthly cashflow live

• Estimated rent: $2,324 medium
• Mortgage (P&I): −$1,127
• Tax est. 1.5%: −$269 /mo · $3,225/yr
• Insurance: −$90
• HOA: −$0
• Vacancy / Maint / Mgmt: −$488
• Net cashflow: $350

Break-even live

Break-even rent $1,881

Max offer price $215,000

Occupancy floor 80%

Sensitivity live

Price	-10% $499	-5% $425	+0% $350	+5% $276	+10% $202
Rent	-10% $167	-5% $258	+0% $350	+5% $442	+10% $534
Rate	-1.0pp $459	-0.5pp $405	base $350	+0.5pp $295	+1.0pp $238

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	45d	1	0.27mi
522 W Evergreen Farm Way Sequim, WA	2.0	2.0	1336	$2,450	$1.83	45d	1	0.62mi
246 W Maple St Sequim, WA	3.0	2.0	1200	$2,300	$1.92	45d	1	0.72mi

Listing history 17 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
16. 2026-03-02
    price $229,000
17. 2026-01-22
    listed $239,000 Active

ⓘ 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: $27,889
• − Mortgage interest: −$12,043
• − Property taxes: −$3,225
• − Insurance: −$1,075
• − Repairs & maintenance: −$2,231
• − Management: −$2,231
• − Depreciation: −$6,255
• Taxable income: $829
• Est. tax owed @ 24.0%: −$199
• After-tax cash flow: $4,004/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.

Condition & rehab AI · 12 photos

Average 55/100 Moderate rehab

The home requires moderate renovations to improve its condition and appeal to buyers. Updates to the interior walls, flooring, and kitchen and bathroom fixtures would significantly enhance its resale value.

Repairs flagged

• Minor kitchen cabinets — slight wear
• Minor bathroom fixtures — dated design
• Minor exterior siding — some discoloration

Value-add opportunities

• Resale paint interior walls — fresh paint enhances curb appeal
• Resale replace carpeting — new flooring improves aesthetics
• Resale update kitchen cabinets — new cabinets modernize the space
• Resale update bathroom fixtures — new fixtures improve functionality and aesthetics

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · slight wear	Minor	$500–3,000
bathroom fixtures · dated design	Minor	$500–3,000
exterior siding · some discoloration	Minor	$500–3,000
Total estimated repair cost · 3 items		$1,500–9,000

Value-add ROI direction

• Resale paint interior walls — fresh paint enhances curb appeal ↑
• Resale replace carpeting — new flooring improves aesthetics ↑
• Resale update kitchen cabinets — new cabinets modernize the space ↑
• Resale update bathroom fixtures — new fixtures improve functionality and aesthetics ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

-10.0% since first listed

3 events — show timeline

• 2026-04-01 Price Changed $215,000 NWMLS as Distributed by MLS Grid
• 2026-03-02 Price Changed $229,000 NWMLS as Distributed by MLS Grid
• 2026-01-22 Listed $239,000 NWMLS as Distributed by MLS Grid