2428 Pacific Ave · Hoquiam, WA 98550

$249,900

2 bd · 2.0 ba · 1,636 sqft · MultiFamily public records · 10 Days on market

Built 1906 5,663 sqft lot

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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 +26.8/30.0
• DSCR +9.2/10.0
• ARV discount +7.5/15.0
• 1% rule +6.5/10.0
• Livability +3.8/5.0
• Schools +3.2/10.0
• 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 (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Investor Opportunity — Turnkey Duplex With Rental This fully-rented duplex is ready to step seamlessly into your investment portfolio. The upper unit offers 2 bedrooms/1 bath, while the main-level unit features 2 bedrooms/1 bath plus a convenient washer/dryer hookup. The main-level tenants also enjoy a spacious fenced backyard and a generously sized deck directly off the back door — an appealing amenity that supports long-term tenancy. Recent updates include a new hot water tank in the upper unit. Both units are rented at current market rates with leases already in place, providing immediate, predictable cash flow. A solid investment in a steady rental market.

Key facts

• Turnkey duplex
• New hot water tank
• Fenced backyard

Tags

• TURNKEY DUPLEX
• FENCED BACKYARD
• GENEROUSLY SIZED DECK
• NEW HOT WATER TANK

Property features AI

Finance

• Other: Public lot size reported: 0.13 acres
• Financial info: Listing terms: Cash or conventional; Total monthly income reported: $2,295; Gross scheduled income: $27,540; Gross adjusted/net operating income reported: $20,179; Total expenses reported: $7,361; Insurance expense: $1,080; Other expense: $1,566; Gross rent multiplier: 9.07; Vacancy rate: 5%; Two total units

Exterior

• Parking: 2 uncovered parking spaces
• Utilities: Electric energy source; Public water (City of Hoquiam); Sewer connected (City of Hoquiam); Power provided by GH PUD
• Home design: Duplex (residential income); 2 stories
• Construction: Wood construction; Composition roof
• Exterior features: Wood exterior products; Paved lot

Interior

• Kitchen: Unit 2428: Range/oven, refrigerator, dishwasher; Unit 2428 1/2: Range/oven, refrigerator
• Bedrooms: Two 2-bedroom units
• Flooring: Vinyl flooring; Carpet flooring
• Bathrooms: Each unit has 1 bathroom
• Heating & cooling: Baseboard heating; Wall furnace; No central cooling
• Interior features: Vinyl and carpet flooring
• Laundry & utility: No in-unit washer/dryer in either unit

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $250k.

Deal economics

• At list price, monthly cash flow is $254 ($3k/yr) — positive. Per door: $127/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $250k).
• Cap rate 9.6% vs local median 3.7% 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; 1 comparable units currently listed for rent nearby; 297 units permitted in Grays Harbor County in 2024 (17 in 5+ unit buildings).
• At $2,882/mo this rent would consume 63% of the median local household income ($55k/yr) (locally 438% 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 $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

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 9 sale attempts since 2y 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1906 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $249,900

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. Built in 1906 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. 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.
8. 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.
9. 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: 1.15% ✓
• Cap rate: 9.56%
• Cash-on-cash: 11.68%
• DSCR: 1.52
• GRM: 7.2

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: -9.4%
• Equity multiple: 0.66×
• Total profit: $-24,064
• Equity at exit: $37,261

10-year hold

• IRR: 0.2%
• Equity multiple: 1.01×
• Total profit: $826
• Equity at exit: $21,607

Cash invested: $69,972 (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: 14.5×

Monthly cashflow live

• Estimated rent: $2,882 medium
• Mortgage (P&I): −$1,311
• Tax from tax record: −$181 /mo · $2,174/yr
• Insurance: −$104
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$605
• Net cashflow: $254

Break-even live

Break-even rent $2,560

Max offer price $249,900

Occupancy floor 86%

Sensitivity live

Price	-10% $396	-5% $325	+0% $254	+5% $184	+10% $113
Rent	-10% $27	-5% $141	+0% $254	+5% $368	+10% $482
Rate	-1.0pp $380	-0.5pp $318	base $254	+0.5pp $190	+1.0pp $124

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,882
Total (2 units)			$2,882

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: $62,475
• Closing costs: $7,497
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3033 Sumner Ave Hoquiam, WA	3.0	1.0	1128	$1,695	$1.50	44d	1	0.68mi

Listing history 9 events

1. 2026-06-21
   days on market $249,900 Active 10 DOM
2. 2026-06-19
   days on market $249,900 Active 8 DOM
3. 2026-06-18
   days on market $249,900 Active 7 DOM
4. 2026-06-17
   days on market $249,900 Active 6 DOM
5. 2026-06-16
   days on market $249,900 Active 5 DOM
6. 2026-06-15
   days on market $249,900 Active 4 DOM
7. 2026-06-14
   days on market $249,900 Active 2 DOM
8. 2026-06-12
   remarks 670-char remark
9. 2026-06-12
   listed $249,900 Active 1 DOM

ⓘ 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: $2,174 · $181/mo
• Projected year-2 tax: $2,449 · $204/mo
• Expected delta: +$275/yr (+$23/mo · 12.6%)

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

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 1/10 Low 8 d/yr ≥77°F today · 18 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: $34,584
• − Mortgage interest: −$13,998
• − Property taxes: −$2,174
• − Insurance: −$6,368
• − Repairs & maintenance: −$2,767
• − Management: −$2,767
• − Depreciation: −$7,270
• Taxable loss: −$760
• Est. tax savings @ 24.0%: +$182
• After-tax cash flow: $3,236/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: 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

+1155.8% since first listed

24 events — show timeline

• 2026-06-11 Listed $249,900 NWMLS as Distributed by MLS Grid
• 2025-10-09 Rental Removed $1,095 BUILDIUM
• 2025-10-03 Listed for Rent $1,095 BUILDIUM
• 2025-08-31 Rental Removed $1,095 BUILDIUM
• 2025-08-22 Listed for Rent $1,095 BUILDIUM
• 2024-09-10 Rental Removed $995 BUILDIUM
• 2024-08-30 Listed for Rent $995 BUILDIUM
• 2024-07-31 Sold (MLS) $238,900 NWMLS as Distributed by MLS Grid
• 2024-07-02 Pending — NWMLS as Distributed by MLS Grid
• 2024-06-24 Relisted — NWMLS as Distributed by MLS Grid
• 2024-06-18 Pending — NWMLS as Distributed by MLS Grid
• 2024-06-18 Price Changed $238,900 NWMLS as Distributed by MLS Grid
• 2024-06-14 Relisted — NWMLS as Distributed by MLS Grid
• 2024-05-30 Pending — NWMLS as Distributed by MLS Grid
• 2024-05-24 Relisted — NWMLS as Distributed by MLS Grid
• 2024-05-20 Pending — NWMLS as Distributed by MLS Grid
• 2024-05-14 Price Changed $248,900 NWMLS as Distributed by MLS Grid
• 2024-05-07 Relisted — NWMLS as Distributed by MLS Grid
• 2024-05-01 Pending — NWMLS as Distributed by MLS Grid
• 2024-04-16 Price Changed $264,900 NWMLS as Distributed by MLS Grid
• 2024-04-04 Price Changed $274,900 NWMLS as Distributed by MLS Grid
• 2024-03-21 Price Changed $294,900 NWMLS as Distributed by MLS Grid
• 2024-03-12 Listed $299,900 NWMLS as Distributed by MLS Grid
• 1997-02-28 Sold (Public Records) $19,900 Public Records

Property tax history

+5.1%/yr

Latest (2026): $2,174 · +7.9% YoY. Source: county tax records.