821 E Division · Forks, WA 98331

$1,500,000

None bd · None ba · 9,164 sqft · MultiFamily public records

Built 1988 1.77 ac lot

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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
• DSCR +10.0/10.0
• 1% rule +7.5/10.0
• ARV discount +7.5/15.0
• Livability +3.7/5.0
• Schools +3.4/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 20 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

20 Unit apartment complex that features 3-3 bedroom units, 14- 2 bedroom units, and 3-1 bedroom units, on site coin- op laundry facility. The rents range from $655- 897 per month. This property has been well kept over the years with professional accounting, maintenance, and grounds keeping; close to Forks Aquatic Center, on City of Forks public water and sewer system. 31 paved parking spots. Financials are available upon request with non-disclosure agreement.

Key facts

• 1.77 acre lot
• Built 1988

What this means for you Summary

Snapshot

• This is a 3×3bd/3.0ba + 14×2bd/2.0ba + 3×1bd/1.0ba units multifamily listed at $1.50M.

Deal economics

• At list price, monthly cash flow is $6k ($67k/yr) — positive. Per door: $280/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($19k rent vs $1.50M).

Location & tenants

• Location reads 73/100 on livability (#202 in WA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, commute A; Watch: schools C-, amenities F, employment F.
• Quillayute Valley School District (town): math 24% / reading 51% proficiency, ranked #239 of 291 in WA (top 82%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 49 active listings in the ZIP; 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 $10k of loan paydown is wiped out by about $45k 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 $420k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 3y ago; this cycle's ask is 212666% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Recommended offer $1,500,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.25% ✓
• Cap rate: 10.77%
• Cash-on-cash: 15.99%
• DSCR: 1.71
• GRM: 6.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 6.9%
• Equity multiple: 1.27×
• Total profit: $113,056
• Equity at exit: $223,655

10-year hold

• IRR: 16.2%
• Equity multiple: 2.32×
• Total profit: $555,860
• Equity at exit: $129,693

Cash invested: $420,000 (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 98331

• Active inventory: 49
• Price-to-rent: 121.1×

Monthly cashflow live

• Estimated rent: $18,771 medium
• Mortgage (P&I): −$7,866
• Tax from tax record: −$740 /mo · $8,880/yr
• Insurance: −$625
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,942
• Net cashflow: $5,598

Break-even live

Break-even rent $11,685

Max offer price $1,500,000

Occupancy floor 65%

Sensitivity live

Price	-10% $6,447	-5% $6,022	+0% $5,598	+5% $5,173	+10% $4,749
Rent	-10% $4,115	-5% $4,856	+0% $5,598	+5% $6,339	+10% $7,081
Rate	-1.0pp $6,353	-0.5pp $5,979	base $5,598	+0.5pp $5,209	+1.0pp $4,814

20-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	3	3	$3,096
▸ 14× units	2	2	$13,034
▸ 3× units	1	1	$2,634
Total (20 units)			$18,771

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: $375,000
• Closing costs: $45,000
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-01-21
   listed $705
2. 2025-11-02
   historical $705
3. 2025-07-08
   listed $705
4. 2025-06-26
   historical $705
5. 2024-10-13
   listed $705
6. 2024-07-02
   historical
7. 2023-09-02
   status Pending
8. 2023-04-25
   historical
9. 2023-04-05
   historical
10. 2023-04-03
    listed $1,500,000

ⓘ 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: $8,880 · $740/mo
• Projected year-2 tax: $14,700 · $1,225/mo
• Expected delta: +$5,820/yr (+$485/mo · 65.5%)

ⓘ 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 1/10 Low 8 d/yr ≥82°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: $225,252
• − Mortgage interest: −$84,023
• − Property taxes: −$8,880
• − Insurance: −$7,500
• − Repairs & maintenance: −$18,020
• − Management: −$18,020
• − Depreciation: −$43,636
• Taxable income: $45,172
• Est. tax owed @ 24.0%: −$10,841
• After-tax cash flow: $56,334/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: Quillayute Valley School District
• NCES district ID: 5307020
• Math proficiency: 24% ▼ -4.00%
• Reading proficiency: 51% ▼ -1.00%
• Median HH income: $40,142
• Composite: 33.96/100
• National rank: #10332
• State rank: #239 of 291 in WA

Livability — Forks

• Score: 73/100
• State rank: #202
• US rank: #5582

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Forks, WA
• Population (ZIP): 5,526

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: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: White 64% Two or more races 19% Hispanic / Latino 18% Native American 5% Asian 4% Black 1%
• Hispanic origin (detail): Mexican 14%
• Common ancestry: Portuguese 4% Slovak 4% Serbian 3%
• Foreign-born: 6% · Canada, Vietnam
• Languages at home: 88% English-only · Spanish 7% Other Indo-European 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: ▼ -117.63%
• Current HPI: 150.8995
• 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

10 events — show timeline

• 2026-01-21 Listed for Rent $705 HARMLS
• 2025-11-02 Rental Removed $705 HARMLS
• 2025-07-08 Listed for Rent $705 HARMLS
• 2025-06-26 Rental Removed $705 HARMLS
• 2024-10-13 Listed for Rent $705 HARMLS
• 2024-07-02 Rental Removed — HARMLS
• 2023-09-02 Pending — OLS
• 2023-04-25 Delisted — OLS
• 2023-04-05 Delisted — OLS
• 2023-04-03 Listed $1,500,000 OLS

Property tax history

+0.5%/yr

Latest (2026): $8,880 · +10.0% YoY. Source: county tax records.