1020 J St · Hoquiam, WA 98550

$485,000

84 bd · 49.0 ba · 6,971 sqft · Other public records · 1 Days on market

Built 1929 6,098 sqft lot

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Why this score? — see what drove the F 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).

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

Listing remarks

Aggressively priced 7-unit apartment building with a strong rental history and clear value-add upside. The property features four 2-bedroom units and three 1-bedroom units, offering a desirable mix of living spaces for tenants. Rents are currently below market, creating a strong opportunity for future rental increases and improved cash flow. The building also includes a garage that can be used as a shop, tenant storage, or additional income-producing space. Conveniently located near public transportation, shopping, and everyday amenities, this property offers both stability and upside potential for investors looking to maximize returns.

Key facts

• Everyday amenities
• Shopping
• Tenant storage

Tags

• TENANT STORAGE
• SHOPPING
• EVERYDAY AMENITIES

Property features AI

Finance

• Other: Calculated building area: 6,971 square feet; Lot dimensions approximately 56 x 97 (0.14 acre); Zoning jurisdiction: City; Possible use: Multi-family; Building name: Hoquiam Corr
• Financial info: Listing terms: Cash or conventional; Gross scheduled income: $75,900; Gross adjusted income: $75,900; Net operating income: $43,446; Total expenses: $32,454; Insurance expense: $3,458; Other expense: $11,000; Gross rent multiplier: 6.39; Actual monthly rents by unit types range from $775 to $1,200

Exterior

• Parking: One covered parking space; One garage space; One uncovered parking space
• Utilities: Electric energy source; Public water (City of Hoquiam); Sewer connected (City of Hoquiam); Power by Grays Harbor PUD
• Home design: Multi-family residential income property; 5-9 unit building (7 total units); Two stories; Entry facing not specified
• Construction: Wood construction; Flat roof; Concrete ribbon and pier/pillar foundation; Built condition: Good
• Exterior features: Wood exterior; Cable TV available; Corner lot with curbs, paved streets and sidewalks; Has a view

Interior

• Kitchen: Range/oven in each unit; Refrigerator in each unit
• Bedrooms: Unit mix includes 2-bed, 3-bed and 1-bed units (various units across building)
• Flooring: Laminate; Vinyl; Carpet
• Bathrooms: Each unit listed has one bathroom
• Heating & cooling: Baseboard heating; Wall unit cooling
• Interior features: Laminate, vinyl, and carpet flooring; Baseboard heating; Wall cooling units; Has heating; Has cooling

What this means for you Summary

Snapshot

• This is a 84-bed/49.0-bath other listed at $485k.

Deal economics

• At list price, monthly cash flow is $-2k ($-20k/yr) — negative.
• To cash-flow at today's rent, offer at most $196k (59.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $231k (52.4% below list).
• Recommended offer: $196k (59.7% below list) — sets the bar for cash-flow.

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, amenities F.
• 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.
• Zoned schools: Hoquiam High School (450 students, 66% FRL).
• Market conditions: 154 active listings in the ZIP; 297 units permitted in Grays Harbor County in 2024 (17 in 5+ unit buildings).
• At $2,309/mo this rent would consume 50% 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 $3k of loan paydown is wiped out by about $15k 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 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 7y 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 $279k; list at $485k implies a 74% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1929 — 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 $195,636 (59.7% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1929 — 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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 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: 0.48% ✗
• Cap rate: 3.30%
• Cash-on-cash: -10.71%
• DSCR: 0.52
• GRM: 17.5

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: -43.8%
• Equity multiple: -0.35×
• Total profit: $-182,815
• Equity at exit: $72,315

10-year hold

• IRR: -77.5%
• Equity multiple: -1.16×
• Total profit: $-293,113
• Equity at exit: $41,934

Cash invested: $135,800 (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 98550

• Active inventory: 154
• Price-to-rent: 17.5×

Monthly cashflow live

• Estimated rent: $2,309 medium
• Mortgage (P&I): −$2,543
• Tax from tax record: −$290 /mo · $3,478/yr
• Insurance: −$202
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$485
• Net cashflow: $-1,638

Break-even live

Break-even rent $4,382

Max offer price $195,636

Occupancy floor —

Sensitivity live

Price	-10% $-1,363	-5% $-1,501	+0% $-1,638	+5% $-1,775	+10% $-1,913
Rent	-10% $-1,820	-5% $-1,729	+0% $-1,638	+5% $-1,547	+10% $-1,456
Rate	-1.0pp $-1,394	-0.5pp $-1,515	base $-1,638	+0.5pp $-1,764	+1.0pp $-1,892

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: $121,250
• Closing costs: $14,550
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-06-19
   remarks 644-char remark
2. 2026-06-19
   listed $485,000 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: $3,478 · $290/mo
• Projected year-2 tax: $4,753 · $396/mo
• Expected delta: +$1,275/yr (+$106/mo · 36.7%)

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

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone AE · 96% 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: $27,703
• − Mortgage interest: −$27,168
• − Property taxes: −$3,478
• − Insurance: −$7,544
• − Repairs & maintenance: −$2,216
• − Management: −$2,216
• − Depreciation: −$14,109
• Taxable loss: −$29,027
• Est. tax savings @ 24.0%: +$6,966
• After-tax cash flow: $-12,690/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

+18.4% since first listed

6 events — show timeline

• 2026-06-18 Listed $485,000 NWMLS as Distributed by MLS Grid
• 2019-07-30 Sold (Public Records) $279,000 Public Records
• 2019-07-30 Sold (MLS) $279,000 NWMLS as Distributed by MLS Grid
• 2019-06-13 Pending — NWMLS as Distributed by MLS Grid
• 2019-06-04 Listed $250,000 NWMLS as Distributed by MLS Grid
• 2002-09-16 Sold (Public Records) $409,613 Public Records

Property tax history

+2.2%/yr

Latest (2026): $3,478 · +6.5% YoY. Source: county tax records.