710 S Hancock Ave Unit 422-23 · Westport, WA 98595

$30,000

2 bd · 2.0 ba · 614 sqft · Condo · 57 Days on market

Built 1969 Good condition $49/sqft · 84% below area $500/mo HOA · 39% of rent

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Why this score? — see what drove the D+ 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +3.9/10.0
• Condition / age +3.8/5.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Experience a truly Pacific Northwest getaway in this newly remodeled, top-floor double unit at The Chateau Westport. Relax to the rhythmic sound of crashing waves from your 600+ square foot suite offering views of the Pacific Ocean & the lush, forested grounds you’ll help call your own through shared property ownership. This unique "hotel-style" configuration features two distinct spaces connected by an interior door: the first equipped with two queen beds, mini-fridge & microwave. The second serving as a cozy retreat with a king bed, wood-burning fireplace, & convenient kitchenette. Both units feature brand-new furniture, new flooring & full bathrooms

Key facts

• Brand-new furniture
• $500 HOA
• Parking

Tags

• TOP-FLOOR DOUBLE UNIT
• VIEWS OF THE PACIFIC OCEAN
• HOTEL-STYLE CONFIGURATION
• WOOD-BURNING FIREPLACE
• CONVENIENT KITCHENETTE
• BRAND-NEW FURNITURE

Property features AI

Finance

• Other: Units in building: 104; Common water access and community transportation nearby (bus line); Building name: Chateau Westport
• Financial info: Listing terms: Cash
• HOA & community: Has HOA — $500 monthly; HOA includes central hot water, common area maintenance, concierge, earthquake insurance, internet, lawn service, road maintenance, sewer, trash and water; Community amenities: indoor pool, exercise room, athletic court, game/rec room, lobby entrance, playground, trails, elevator, outside entry, high-speed internet available; Pets allowed (cats and dogs; see remarks)

Exterior

• Parking: Off-street uncovered parking
• Security: Fire sprinkler system; Concierge (via association)
• Utilities: Electric energy source; Water, sewer, power and internet provided through HOA
• Home design: Attached condominium; Top-floor unit (4th floor); Unit has view; Remodeled/updated
• Construction: Stone and wood construction; Flat roof
• Exterior features: Stone and wood exterior; Wood products detailing; Paved access; Sidewalk; Balcony/Deck/Patio; Yard; On waterfront (saltwater/sea); Community waterfront/private beach access (non-deeded)

Interior

• Kitchen: Microwave; Refrigerator; Stove/Range; Kitchen with eating space
• Bedrooms: 2 bedrooms on the main level
• Flooring: Ceramic tile; Vinyl plank
• Bathrooms: 2 full bathrooms on the main level; 2 bathtubs; 2 showers
• Heating & cooling: Forced air heating; No central cooling
• Interior features: Fireplace; Ice maker; Insulated windows; Curtains
• Laundry & utility: In-unit storage; Owner's closet

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $30k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $318 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $30k).
• Recommended offer: $29k (3.0% below list) — sets the bar for market timing.
• Cap rate 19.0% vs local median 1.5% in Westport — 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 70/100 on livability (#251 in WA) — a middle-class / working-renter tenant base. Strengths: crime A, cost of living A-, housing A-; Watch: commute C-, health & safety C-, schools D+.
• Ocosta School District (rural): math 39% / reading 50% proficiency, ranked #196 of 291 in WA (top 67%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 60% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 120 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 $207 of loan paydown is wiped out by about $900 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 + 3.0% rent growth), your $8k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 57 days — a 3% lower offer ($29k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 39% of rent.

Recommended offer $29,100 (3.0% below list)

Questions for the listing agent

1. It's been on market 57 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1969 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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 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: 4.33% ✓
• Cap rate: 19.02%
• Cash-on-cash: 45.46%
• DSCR: 3.02
• GRM: 1.9

CMA / ARV

• ARV (median comp): $189,082
• List price: $30,000
• Delta: -84.13%
• Verdict: UNDERPRICED
• Comps: 4 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 43.1%
• Equity multiple: 2.87×
• Total profit: $15,734
• Equity at exit: $4,473

10-year hold

• IRR: 49.4%
• Equity multiple: 5.90×
• Total profit: $41,127
• Equity at exit: $2,594

Cash invested: $8,400 (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 98595

• Active inventory: 120
• Price-to-rent: 1.9×

Monthly cashflow live

• Estimated rent: $1,298 medium
• Mortgage (P&I): −$157
• Tax est. 1.5%: −$38 /mo · $450/yr
• Insurance: −$12
• HOA: −$500
• Vacancy / Maint / Mgmt: −$273
• Net cashflow: $318

Break-even live

Break-even rent $895

Max offer price $30,000

Occupancy floor 70%

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: $7,500
• Closing costs: $900
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $500 · $6,000/yr
• Likely covers: landscaping
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 16 events

1. 2026-06-19
   days on market $30,000 Active 57 DOM
2. 2026-06-18
   days on market $30,000 Active 56 DOM
3. 2026-06-17
   days on market $30,000 Active 55 DOM
4. 2026-06-16
   days on market $30,000 Active 54 DOM
5. 2026-06-15
   days on market $30,000 Active 53 DOM
6. 2026-06-14
   days on market $30,000 Active 51 DOM
7. 2026-06-12
   days on market $30,000 Active 50 DOM
8. 2026-06-09
   days on market $30,000 Active 47 DOM
9. 2026-06-08
   days on market $30,000 Active 46 DOM
10. 2026-06-07
    days on market $30,000 Active 45 DOM
11. 2026-06-05
    days on market $30,000 Active 42 DOM
12. 2026-06-02
    days on market $30,000 Active 40 DOM
13. 2026-06-01
    days on market $30,000 Active 39 DOM
14. 2026-05-31
    days on market $30,000 Active 38 DOM
15. 2026-05-30
    days on market $30,000 Active 37 DOM
16. 2026-04-23
    listed $30,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 1/10 Low 7 d/yr ≥73°F today · 18 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 5/10 Major 6 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,578
• − Mortgage interest: −$1,680
• − Property taxes: −$450
• − Insurance: −$150
• − Repairs & maintenance: −$1,246
• − Management: −$1,246
• − HOA: −$6,000
• − Depreciation: −$873
• Taxable income: $3,932
• Est. tax owed @ 24.0%: −$944
• After-tax cash flow: $2,875/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 · 13 photos

Good 75/100 Cosmetic rehab

This top-floor double unit at The Chateau Westport is in good condition with modern amenities and a great location. It's ready for a new owner to move in and enjoy the Pacific Northwest views.

Value-add opportunities

• Both Painting the exterior and interior walls — Enhances curb appeal and interior aesthetics
• Both Updating the flooring — Improves the overall look and feel of the home
• Both Upgrading the kitchen appliances — Modernizes the kitchen and adds value
• Both Installing smart home features — Enhances convenience and adds value to the property

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior and interior walls — Enhances curb appeal and interior aesthetics ↑
• Both Updating the flooring — Improves the overall look and feel of the home ↑
• Both Upgrading the kitchen appliances — Modernizes the kitchen and adds value ↑
• Both Installing smart home features — Enhances convenience and adds value to the property ↑

ⓘ 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: Ocosta School District
• NCES district ID: 5306090
• Math proficiency: 39% ▲ 1.00%
• Reading proficiency: 50% ▼ -1.00%
• Median HH income: $36,877
• Composite: 39.19/100
• National rank: #8222
• State rank: #196 of 291 in WA

Livability — Westport

• Score: 70/100
• State rank: #251
• US rank: #8043

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Westport, WA
• City population: 2,591
• Population (ZIP): 2,591

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 (87%)
• Race & ethnicity: White 87% Hispanic / Latino 11% Two or more races 1%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Portuguese 12% Scottish 5% Iranian 4%
• Foreign-born: 6% · Canada
• Languages at home: 85% English-only · Spanish 10% Russian/Polish/Slavic 4% Other Indo-European 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: ▼ -135.90%
• Current HPI: 233.666
• 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

1 event — show timeline

• 2026-04-23 Listed $30,000 NWMLS as Distributed by MLS Grid