1024 State Route 6 · Willapa, WA 98577

$145,000

3 bd · 1.0 ba · 1,000 sqft · SingleFamily public records · 392 Days on market

Built 1920 0.45 ac lot $145/sqft · 44% below area Est $259k · 44% under ↓ 12% since listing

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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 +25.1/30.0
• ARV discount +15.0/15.0
• DSCR +8.2/10.0
• 1% rule +5.7/10.0
• Schools +4.7/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +1.1/10.0

Listing remarks

Charming home in Menlo. This 2+ bedroom home offers a level lot, updated septic system and just under 1/2 acre of ground, Situated near Willapa Valley school and fairgrounds. Great potential.

Key facts

• Just under 1/2 acre
• Near fairgrounds
• Level lot

Tags

• LEVEL LOT
• UPDATED SEPTIC SYSTEM
• NEAR WILLAPA VALLEY SCHOOL
• NEAR FAIRGROUNDS
• JUST UNDER 1/2 ACRE

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $145k.

Deal economics

• At list price, monthly cash flow is $320 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $145k).
• Recommended offer: $128k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 59/100 on livability (#476 in WA) — a working-class tenant base; expect higher turnover. Strengths: housing A+, cost of living A; Watch: schools C-, health & safety C-, employment D.
• Willapa Valley School District (rural): math 45% / reading 60% proficiency, ranked #122 of 291 in WA (top 42%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 91 active listings in the ZIP; 90 units permitted in Pacific County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Pacific County population projected at -10% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 392 days — a 12% lower offer ($128k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $20k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $127,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 392 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.07% ✓
• Cap rate: 8.94%
• Cash-on-cash: 9.45%
• DSCR: 1.42
• GRM: 7.8

CMA / ARV

• ARV (median comp): $259,182
• List price: $145,000
• Delta: -44.05%
• Verdict: UNDERPRICED
• Comps: 4 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
21 Maple Leaf St	0.42mi	2/1.0 (-1)	1,056 (+6%)	21mo	$250,000	$237	49

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: -2.1%
• Equity multiple: 0.92×
• Total profit: $-3,172
• Equity at exit: $21,620

10-year hold

• IRR: 7.6%
• Equity multiple: 1.57×
• Total profit: $23,315
• Equity at exit: $12,537

Cash invested: $40,600 (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 98577

• Home prices YoY: -2.8%
• Active inventory: 91
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $1,555 medium
• Mortgage (P&I): −$760
• Tax from tax record: −$88 /mo · $1,055/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$327
• Net cashflow: $320

Break-even live

Break-even rent $1,150

Max offer price $145,000

Occupancy floor 74%

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-18
   days on market $145,000 Active 392 DOM
2. 2026-06-17
   days on market $145,000 Active 391 DOM
3. 2026-06-16
   days on market $145,000 Active 390 DOM
4. 2026-06-15
   days on market $145,000 Active 389 DOM
5. 2026-06-15
   days on market $145,000 Active 388 DOM
6. 2026-06-13
   days on market $145,000 Active 387 DOM
7. 2026-06-12
   days on market $145,000 Active 386 DOM
8. 2026-06-09
   days on market $145,000 Active 383 DOM
9. 2026-06-08
   days on market $145,000 Active 382 DOM
10. 2026-06-08
    days on market $145,000 Active 381 DOM
11. 2026-06-05
    days on market $145,000 Active 379 DOM
12. 2026-06-03
    days on market $145,000 Active 377 DOM
13. 2026-06-02
    days on market $145,000 Active 376 DOM
14. 2026-06-01
    days on market $145,000 Active 375 DOM
15. 2026-05-31
    days on market $145,000 Active 374 DOM
16. 2026-04-16
    status Active
17. 2026-04-16
    price $145,000
18. 2026-04-11
    status Pending
19. 2026-02-05
    price $159,900
20. 2025-05-15
    listed $165,000 Active

ⓘ 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: $1,055 · $88/mo
• Projected year-2 tax: $1,421 · $118/mo
• Expected delta: +$366/yr (+$30/mo · 34.7%)

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 1/10 Low 7 d/yr ≥83°F today · 15 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: $18,659
• − Mortgage interest: −$8,122
• − Property taxes: −$1,055
• − Insurance: −$725
• − Repairs & maintenance: −$1,493
• − Management: −$1,493
• − Depreciation: −$4,218
• Taxable income: $1,553
• Est. tax owed @ 24.0%: −$373
• After-tax cash flow: $3,463/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: Willapa Valley School District
• NCES district ID: 5309870
• Math proficiency: 45% ▼ -10.00%
• Reading proficiency: 60% ▼ -2.00%
• Median HH income: $51,545
• Composite: 46.89/100
• National rank: #5182
• State rank: #122 of 291 in WA

Livability — Willapa

• Score: 59/100
• State rank: #476
• US rank: #19741

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 7,458

Population outlook (Pacific County) Hauer SSP2

• Today (2025): 20,636 people
• By 2030: 20,137 · -2.4%
• By 2040: 19,041 · -7.7%
• By 2050: 18,504 · -10.3%
• By 2075: 17,403 · -15.7%
• By 2100: 16,241 · -21.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (78%)
• Race & ethnicity: White 78% Hispanic / Latino 11% Two or more races 7% Native American 2% Asian 1%
• Hispanic origin (detail): Mexican 11%
• Common ancestry: Portuguese 5% Scotch-Irish 3% Romanian 3%
• Foreign-born: 7% · Canada, South Korea
• Languages at home: 89% English-only · Spanish 8% German/W. Germanic 2%

Political lean MEDSL · Pacific

• 2024 margin: Toss-up / Even · D 48.1% · R 49.4% · Other 2.4%
• 2008→2024 swing: -15.4pp toward R · 2008: 14.1pp · 2024: -1.3pp
• All cycles: 2024: R+1.3 2020: R+1.1 2016: R+6.9 2012: D+11.4 2008: D+14.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -7.88%
• Current HPI: 271.0583
• 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

-12.1% since first listed

5 events — show timeline

• 2026-04-16 Relisted — NWMLS as Distributed by MLS Grid
• 2026-04-16 Price Changed $145,000 NWMLS as Distributed by MLS Grid
• 2026-04-11 Pending — NWMLS as Distributed by MLS Grid
• 2026-02-05 Price Changed $159,900 NWMLS as Distributed by MLS Grid
• 2025-05-15 Listed $165,000 NWMLS as Distributed by MLS Grid

Property tax history

+3.0%/yr

Latest (2026): $1,055 · +1.3% YoY. Source: county tax records.