2010 Broadway Ave #38 · Hoquiam, WA 98550

$129,900

2 bd · 1.0 ba · 390 sqft · SingleFamily public records · 232 Days on market

Built 2026 Good condition $333/sqft · 501% above area

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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 +22.7/30.0
• ARV discount +7.5/15.0
• DSCR +7.3/10.0
• 1% rule +4.7/10.0
• Condition / age +4.0/5.0
• Livability +3.8/5.0
• Schools +3.2/10.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Brand new and move-in ready! Single-wide, manufactured home in 55+ mobile home park. Home offers 2 bedrooms, 1 bathroom. Kitchen has dark cabinets and stainless apron sink. Matching appliances stay with home. Quiet, gated community. Low space rent of $435.38/month. Located on bus line for ease of transportation. Buyer to pay sales tax on purchase price.

Key facts

• Gated community
• Bus line
• Parking

Tags

• GATED COMMUNITY
• BUS LINE

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $130k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $223 ($3k/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 $126k (3.0% below list).
• Recommended offer: $114k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.4% vs local median 3.8% in Hoquiam — 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 75/100 on livability (#171 in WA, #4,268 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: health & safety C-, employment D, schools D-.
• Hoquiam School District (town): math 30% / reading 41% proficiency, ranked #250 of 291 in WA (top 86%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 154 active listings in the ZIP; 297 units permitted in Grays Harbor County in 2024 (17 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $898 of loan paydown is wiped out by about $4k 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 232 days — a 12% lower offer ($114k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $114,312 (12.0% below list)

Questions for the listing agent

1. It's been on market 232 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 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?
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: 0.97% ✗
• Cap rate: 8.35%
• Cash-on-cash: 7.35%
• DSCR: 1.33
• GRM: 8.6

CMA / ARV

• ARV (median comp): $39,360
• List price: $129,900
• Delta: 230.03%
• Verdict: OVERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -5.1%
• Equity multiple: 0.81×
• Total profit: $-6,916
• Equity at exit: $19,369

10-year hold

• IRR: 4.5%
• Equity multiple: 1.33×
• Total profit: $12,015
• Equity at exit: $11,231

Cash invested: $36,372 (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 98550

• Active inventory: 154
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,260 medium
• Mortgage (P&I): −$681
• Tax from tax record: −$37 /mo · $445/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$265
• Net cashflow: $223

Break-even live

Break-even rent $978

Max offer price $129,900

Occupancy floor 77%

Sensitivity live

Price	-10% $296	-5% $260	+0% $223	+5% $186	+10% $149
Rent	-10% $123	-5% $173	+0% $223	+5% $273	+10% $322
Rate	-1.0pp $288	-0.5pp $256	base $223	+0.5pp $189	+1.0pp $155

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-19
   days on market $129,900 Active 232 DOM
2. 2026-06-18
   days on market $129,900 Active 231 DOM
3. 2026-06-17
   days on market $129,900 Active 230 DOM
4. 2026-06-16
   days on market $129,900 Active 229 DOM
5. 2026-06-15
   days on market $129,900 Active 228 DOM
6. 2026-06-14
   days on market $129,900 Active 226 DOM
7. 2026-06-12
   days on market $129,900 Active 225 DOM
8. 2026-06-09
   days on market $129,900 Active 222 DOM
9. 2026-06-08
   days on market $129,900 Active 221 DOM
10. 2026-06-07
    days on market $129,900 Active 220 DOM
11. 2026-06-05
    days on market $129,900 Active 217 DOM
12. 2026-06-03
    days on market $129,900 Active 216 DOM
13. 2026-06-02
    days on market $129,900 Active 215 DOM
14. 2026-06-01
    days on market $129,900 Active 214 DOM
15. 2026-05-31
    days on market $129,900 Active 213 DOM
16. 2026-05-30
    days on market $129,900 Active 212 DOM
17. 2025-10-30
    listed $129,900 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: $445 · $37/mo
• Projected year-2 tax: $1,273 · $106/mo
• Expected delta: +$828/yr (+$69/mo · 186.4%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 74% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 1/10 Low 7 d/yr ≥77°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 6/10 Major 6 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,117
• − Mortgage interest: −$7,276
• − Property taxes: −$445
• − Insurance: −$650
• − Repairs & maintenance: −$1,209
• − Management: −$1,209
• − Depreciation: −$3,779
• Taxable income: $549
• Est. tax owed @ 24.0%: −$132
• After-tax cash flow: $2,542/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

Good 80/100 None rehab

This move-in ready single-wide manufactured home in a 55+ community offers a good condition with minimal repairs needed. The home is well-maintained and ready for immediate occupancy.

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and resale value
• Both Clean gutters — Improves drainage and aesthetics
• Both Install new outdoor lighting — Enhances safety and curb appeal
• Both Replace carpet with hardwood — Increases resale value and rental appeal

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior — Enhances curb appeal and resale value ↑
• Both Clean gutters — Improves drainage and aesthetics ↑
• Both Install new outdoor lighting — Enhances safety and curb appeal ↑
• Both Replace carpet with hardwood — Increases resale value and rental appeal ↑

ⓘ 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: Hoquiam School District
• NCES district ID: 5303660
• Math proficiency: 30% ▬ 0.00%
• Reading proficiency: 41% ▲ 1.00%
• Median HH income: $39,039
• Composite: 32.31/100
• National rank: #10914
• State rank: #250 of 291 in WA

Livability — Hoquiam

• Score: 75/100
• State rank: #171
• US rank: #4268

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hoquiam, WA
• County: Grays Harbor County · 44,693 people
• City population: 12,316
• Metro: Aberdeen, WA
• Population (ZIP): 12,316
• Household income: $55,040
• Rent vs Own: 33.3% rent · 66.7% own
• Severe rent burden: 438.0

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 (82%)
• Race & ethnicity: White 82% Hispanic / Latino 6% Two or more races 6% Native American 4% Asian 2% Black 1%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Portuguese 6% Romanian 4% Slovak 3%
• Foreign-born: 4% · Canada, China
• Languages at home: 94% English-only · Spanish 4% Chinese 1% Russian/Polish/Slavic 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: ▼ -136.94%
• Current HPI: 249.3102
• Rent YoY: —
• 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

1 event — show timeline

• 2025-10-30 Listed $129,900 NWMLS as Distributed by MLS Grid

Property tax history

-17.9%/yr

Latest (2026): $445 · -2.5% YoY. Source: county tax records.