521 W 3rd St · Aberdeen, WA 98520

$385,000

16 bd · 16.0 ba · 2,928 sqft · MultiFamily public records · 63 Days on market

Built 1924 6,500 sqft lot $131/sqft · 14% above area Est $338k · 14% over

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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 +27.7/30.0
• DSCR +9.8/10.0
• 1% rule +6.9/10.0
• Livability +4.0/5.0
• Rent growth +3.6/5.0
• Schools +3.6/10.0
• Condition / age +2.5/5.0
• ARV discount +1.2/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 4 units. confirmed

Listing remarks

Well maintained 4-plex in the heart of Aberdeen! Each unit offers 1 bed and 1 bath with a strong rental history, making this a solid investment opportunity. Situated on a desirable corner lot, the property features a new roof and fresh exterior paint for great curb appeal. All units are individually metered for electricity, with gas heat and a gas hot water heater for efficiency. Coin-operated laundry in the basement. A turnkey property ready to add to your portfolio! Add as a package deal with 107 W 4th Street and 215 E 1st St. All In Aberdeen!

Key facts

• Gas hot water heater
• Individually metered
• Gas heat

Tags

• NEW ROOF
• FRESH EXTERIOR PAINT
• CORNER LOT
• INDIVIDUALLY METERED
• GAS HEAT
• GAS HOT WATER HEATER

What this means for you Summary

Snapshot

• This is a 4 × 1-bed/1-bath units multifamily listed at $385k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive. Per door: $291/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $385k).
• Recommended offer: $362k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.9% 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).
• At $4,576/mo this rent would consume 94% of the median local household income ($58k/yr) (locally 635% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k 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.
• At projected returns (-3.0% appreciation + 4.3% rent growth), your $108k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 63 days — a 6% lower offer ($362k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 22y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $250k; list at $385k implies a 54% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1924 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $361,900 (6.0% below list)

Questions for the listing agent

1. It's been on market 63 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1924 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 1.19% ✓
• Cap rate: 9.93%
• Cash-on-cash: 12.98%
• DSCR: 1.58
• GRM: 7.0

CMA / ARV

• ARV (median comp): $337,958
• List price: $385,000
• Delta: 13.92%
• Verdict: OVERPRICED
• Comps: 13 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 4.3%
• Equity multiple: 1.17×
• Total profit: $18,110
• Equity at exit: $57,405

10-year hold

• IRR: 14.9%
• Equity multiple: 2.28×
• Total profit: $137,712
• Equity at exit: $33,288

Cash invested: $107,800 (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: 28.0×

Monthly cashflow live

• Estimated rent: $4,576 medium
• Mortgage (P&I): −$2,019
• Tax from tax record: −$270 /mo · $3,236/yr
• Insurance: −$160
• HOA: −$0
• Vacancy / Maint / Mgmt: −$961
• Net cashflow: $1,166

Break-even live

Break-even rent $3,100

Max offer price $385,000

Occupancy floor 70%

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

Units	Beds	Baths	Est. rent
▸ 4× units	1	1	$4,576
Total (4 units)			$4,576

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: $96,250
• Closing costs: $11,550
• Reserves months: —
• Total cash needed: —

Listing history 30 events

1. 2026-06-19
   days on market $385,000 Active 63 DOM
2. 2026-06-18
   days on market $385,000 Active 62 DOM
3. 2026-06-17
   days on market $385,000 Active 61 DOM
4. 2026-06-16
   days on market $385,000 Active 60 DOM
5. 2026-06-15
   days on market $385,000 Active 59 DOM
6. 2026-06-14
   days on market $385,000 Active 57 DOM
7. 2026-06-12
   days on market $385,000 Active 56 DOM
8. 2026-06-09
   days on market $385,000 Active 53 DOM
9. 2026-06-09
   price $385,000 Active 52 DOM
10. 2026-06-08
    days on market $400,000 Active 52 DOM
11. 2026-06-07
    days on market $400,000 Active 51 DOM
12. 2026-06-03
    days on market $400,000 Active 47 DOM
13. 2026-06-02
    days on market $400,000 Active 46 DOM
14. 2026-06-01
    days on market $400,000 Active 45 DOM
15. 2026-05-31
    days on market $400,000 Active 44 DOM
16. 2026-05-30
    days on market $400,000 Active 43 DOM
17. 2026-04-17
    listed $400,000 Active
18. 2021-08-06
    soldstatus $250,000 Closed
19. 2021-05-19
    status Pending
20. 2021-05-03
    status Active
21. 2021-04-25
    status Pending
22. 2021-04-18
    listed $250,000 Active
23. 2011-03-01
    soldstatus $90,000 Sold
24. 2011-02-07
    status Pending
25. 2011-01-20
    price $94,900
26. 2011-01-04
    price $99,900
27. 2010-12-20
    listed $109,900 Active
28. 2004-05-11
    soldstatus $120,750
29. 2004-04-22
    soldstatus $120,750
30. 2004-01-02
    listed $125,000

ⓘ 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: $3,236 · $270/mo
• Projected year-2 tax: $3,773 · $314/mo
• Expected delta: +$537/yr (+$45/mo · 16.6%)

ⓘ 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 8 d/yr ≥77°F today · 16 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: $54,912
• − Mortgage interest: −$21,566
• − Property taxes: −$3,236
• − Insurance: −$1,925
• − Repairs & maintenance: −$4,393
• − Management: −$4,393
• − Depreciation: −$11,200
• Taxable income: $8,199
• Est. tax owed @ 24.0%: −$1,968
• After-tax cash flow: $12,024/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

+220.0% since first listed

14 events — show timeline

• 2026-04-17 Listed $400,000 NWMLS as Distributed by MLS Grid
• 2021-08-06 Sold (MLS) $250,000 NWMLS as Distributed by MLS Grid
• 2021-05-19 Pending — NWMLS as Distributed by MLS Grid
• 2021-05-03 Relisted — NWMLS as Distributed by MLS Grid
• 2021-04-25 Pending — NWMLS as Distributed by MLS Grid
• 2021-04-18 Listed $250,000 NWMLS as Distributed by MLS Grid
• 2011-03-01 Sold (MLS) $90,000 NWMLS as Distributed by MLS Grid
• 2011-02-07 Pending — NWMLS as Distributed by MLS Grid
• 2011-01-20 Price Changed $94,900 NWMLS as Distributed by MLS Grid
• 2011-01-04 Price Changed $99,900 NWMLS as Distributed by MLS Grid
• 2010-12-20 Listed $109,900 NWMLS as Distributed by MLS Grid
• 2004-05-11 Sold (MLS) $120,750 NWMLS as Distributed by MLS Grid
• 2004-04-22 Sold (Public Records) $120,750 Public Records
• 2004-01-02 Listed $125,000 NWMLS as Distributed by MLS Grid

Property tax history

+3.9%/yr

Latest (2026): $3,236 · +59.7% YoY. Source: county tax records.