906 W Market St · Aberdeen, WA 98520

$225,000

36 bd · 36.0 ba · 4,200 sqft · Other public records · 62 Days on market

Built 1918 6,500 sqft lot $54/sqft · 32% below area Est $330k · 32% under

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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 +16.9/30.0
• ARV discount +15.0/15.0
• DSCR +5.3/10.0
• 1% rule +4.4/10.0
• Livability +4.0/5.0
• Rent growth +3.6/5.0
• Schools +3.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Incredible multi-fam fixer opportunity! This 6 plex on a corner lot, no flood zone - ready for the savvy investor to buy into instant equity and create even more through renovation. Partially occupied. Rents/leases to be verified during sale process. Assume outside condition is reflected inside! Buyer to inherit all existing tenants. Priced to sell - seller prefers as-is, fast closing! Please do not disturb tenants!

Key facts

• 6,500 sq ft lot
• Built 1918
• Listed 61 days

What this means for you Summary

Snapshot

• This is a 36-bed/36.0-bath other listed at $225k.

Deal economics

• At list price, monthly cash flow is $84 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $211k (6.3% below list).
• Recommended offer: $211k (6.3% below list) — sets the bar for 1% rule.
• Cap rate 7.1% vs local median 4.1% in Aberdeen — 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 81/100 on livability (#73 in WA, #1,320 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: schools D+, crime D-, employment F.
• Aberdeen School District (town): math 35% / reading 45% proficiency, ranked #222 of 291 in WA (top 76%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 61% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+4.3%/yr); 257 active listings in the ZIP; 297 units permitted in Grays Harbor County in 2024 (17 in 5+ unit buildings).
• This rent runs 44% of the median local income ($58k/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 $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Grays Harbor County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 62 days — a 6% lower offer ($212k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 22y ago; this cycle's ask has dropped $25k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $150k; list at $225k implies a 50% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1918 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $210,892 (6.3% below list)

Questions for the listing agent

1. It's been on market 62 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1918 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. Crime grade is D 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?
8. 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.
9. 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.
10. 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: 0.94% ✗
• Cap rate: 7.09%
• Cash-on-cash: 2.86%
• DSCR: 1.13
• GRM: 8.9

CMA / ARV

• ARV (median comp): $329,564
• List price: $225,000
• Delta: -31.73%
• Verdict: UNDERPRICED
• Comps: 8 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 4.35% rent growth · sell at horizon

5-year hold

• IRR: -12.2%
• Equity multiple: 0.55×
• Total profit: $-28,169
• Equity at exit: $33,548

10-year hold

• IRR: -1.1%
• Equity multiple: 0.92×
• Total profit: $-5,211
• Equity at exit: $19,454

Cash invested: $63,000 (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 98520

• Rents YoY: 4.3%
• Active inventory: 257
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $2,109 medium
• Mortgage (P&I): −$1,180
• Tax from tax record: −$242 /mo · $2,905/yr
• Insurance: −$94
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$443
• Net cashflow: $84

Break-even live

Break-even rent $2,003

Max offer price $225,000

Occupancy floor 91%

Sensitivity live

Price	-10% $211	-5% $148	+0% $84	+5% $20	+10% $-44
Rent	-10% $-83	-5% $1	+0% $84	+5% $167	+10% $250
Rate	-1.0pp $197	-0.5pp $141	base $84	+0.5pp $26	+1.0pp $-34

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Listing history 26 events

1. 2026-06-19
   days on market $225,000 Active 62 DOM
2. 2026-06-18
   days on market $225,000 Active 61 DOM
3. 2026-06-17
   days on market $225,000 Active 60 DOM
4. 2026-06-16
   days on market $225,000 Active 59 DOM
5. 2026-06-15
   days on market $225,000 Active 58 DOM
6. 2026-06-14
   days on market $225,000 Active 56 DOM
7. 2026-06-12
   days on market $225,000 Active 55 DOM
8. 2026-06-09
   days on market $225,000 Active 52 DOM
9. 2026-06-08
   days on market $225,000 Active 51 DOM
10. 2026-06-07
    days on market $225,000 Active 50 DOM
11. 2026-06-03
    days on market $225,000 Active 46 DOM
12. 2026-06-02
    days on market $225,000 Active 45 DOM
13. 2026-06-01
    days on market $225,000 Active 44 DOM
14. 2026-05-31
    days on market $225,000 Active 43 DOM
15. 2026-05-30
    days on market $225,000 Active 42 DOM
16. 2026-05-13
    price $225,000
17. 2026-04-18
    listed $250,000 Active
18. 2006-11-28
    soldstatus $149,900
19. 2006-11-28
    soldstatus $149,900
20. 2006-10-11
    historical
21. 2006-08-15
    listed $149,900
22. 2004-12-15
    soldstatus $140,000
23. 2004-12-15
    soldstatus $140,000
24. 2004-11-22
    historical
25. 2004-10-21
    listed $149,900
26. 1999-12-30
    soldstatus $130,000

ⓘ 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: $2,905 · $242/mo
• Projected year-2 tax: $2,905 · $242/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (unshaded) · 95% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 1/10 Low 8 d/yr ≥77°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: $25,307
• − Mortgage interest: −$12,603
• − Property taxes: −$2,905
• − Insurance: −$1,922
• − Repairs & maintenance: −$2,025
• − Management: −$2,025
• − Depreciation: −$6,545
• Taxable loss: −$2,718
• Est. tax savings @ 24.0%: +$652
• After-tax cash flow: $1,658/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: Aberdeen School District
• NCES district ID: 5300030
• Math proficiency: 35% ▼ -1.00%
• Reading proficiency: 45% ▬ 0.00%
• Median HH income: $41,896
• Composite: 36.13/100
• National rank: #9477
• State rank: #222 of 291 in WA

Livability — Aberdeen

• Score: 81/100
• State rank: #73
• US rank: #1320

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Aberdeen, WA
• County: Grays Harbor County · 44,693 people
• City population: 24,888
• Metro: Aberdeen, WA
• Population (ZIP): 24,888
• Household income: $58,153
• Rent vs Own: 35.4% rent · 64.6% own
• Severe rent burden: 635.0

Population outlook (Grays Harbor County) Hauer SSP2

• Today (2025): 66,443 people
• By 2030: 63,255 · -4.8%
• By 2040: 56,466 · -15.0%
• By 2050: 50,516 · -24.0%
• By 2075: 39,296 · -40.9%
• By 2100: 31,142 · -53.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (70%)
• Race & ethnicity: White 70% Hispanic / Latino 16% Two or more races 9% Black 4% Native American 3% Asian 1% Pacific Islander 1%
• Hispanic origin (detail): Mexican 11%
• Common ancestry: Portuguese 4% Italian 3% Lithuanian 2%
• Foreign-born: 7% · Canada
• Languages at home: 87% English-only · Spanish 10% Other Asian/Pacific 1% German/W. Germanic 1%

Political lean MEDSL · Grays Harbor

• 2024 margin: Lean R (+6.0) · D 45.6% · R 51.6% · Other 2.8%
• 2008→2024 swing: -20.6pp toward R · 2008: 14.6pp · 2024: -6.0pp
• All cycles: 2024: R+6.0 2020: R+6.6 2016: R+7.1 2012: D+14.0 2008: D+14.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -138.75%
• Current HPI: 207.7393
• Rent YoY: ▲ 4.35%
• Metro: Aberdeen, 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

+73.1% since first listed

11 events — show timeline

• 2026-05-13 Price Changed $225,000 NWMLS as Distributed by MLS Grid
• 2026-04-18 Listed $250,000 NWMLS as Distributed by MLS Grid
• 2006-11-28 Sold (Public Records) $149,900 Public Records
• 2006-11-28 Sold (MLS) $149,900 NWMLS as Distributed by MLS Grid
• 2006-10-11 Delisted — NWMLS as Distributed by MLS Grid
• 2006-08-15 Listed $149,900 NWMLS as Distributed by MLS Grid
• 2004-12-15 Sold (Public Records) $140,000 Public Records
• 2004-12-15 Sold (MLS) $140,000 NWMLS as Distributed by MLS Grid
• 2004-11-22 Delisted — NWMLS as Distributed by MLS Grid
• 2004-10-21 Listed $149,900 NWMLS as Distributed by MLS Grid
• 1999-12-30 Sold (Public Records) $130,000 Public Records

Property tax history

+2.3%/yr

Latest (2026): $2,905 · -2.5% YoY. Source: county tax records.