325 Wheeler Ave · Hoquiam, WA 98550

$190,000

4 bd · 2.5 ba · 1,871 sqft · SingleFamily public records · 42 Days on market

Built 1922 10,716 sqft lot $102/sqft · 9% below 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 +20.8/30.0
• ARV discount +7.5/15.0
• DSCR +6.6/10.0
• 1% rule +5.7/10.0
• 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

Listing remarks

Tucked into the scenic hills of Hoquiam, this charming Craftsman offers space, character, and plenty of potential. Natural light pours through the home, brightening the open living and dining areas and highlighting a functional two-level layout designed for comfortable living and easy entertaining. With 4 bedrooms and 2 full plus 2 half baths, there’s room for everyone—whether hosting guests or spreading out. The layout flows nicely, creating an inviting atmosphere throughout. Just a short 10-minute walk to downtown Hoquiam, you’ll enjoy convenient access to local shops and dining while still being nestled in a peaceful, elevated setting. Solidly built with great bones, th

Key facts

• Two-level layout
• Solidly built
• New roof

Tags

• OPEN LIVING AND DINING
• TWO-LEVEL LAYOUT
• SHORT WALK TO DOWNTOWN
• PEACEFUL ELEVATED SETTING
• SOLIDLY BUILT
• NEW ROOF

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $190k.

Deal economics

• At list price, monthly cash flow is $262 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $190k).
• Recommended offer: $184k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.0% 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).
• This rent runs 44% of the median local income ($55k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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 42 days — a 3% lower offer ($184k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 14y ago; this cycle's ask has dropped $50k (21%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1922 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $184,300 (3.0% below list)

Questions for the listing agent

1. It's been on market 42 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 1922 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.07% ✓
• Cap rate: 7.95%
• Cash-on-cash: 5.92%
• DSCR: 1.26
• GRM: 7.8

CMA / ARV

• ARV (median comp): $415,460
• List price: $190,000
• Delta: -54.27%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
330 Wheeler Ave	0.04mi	3/1.0 (-1)	1,888 (+1%)	4mo	$270,000	$143	83
70 M St	0.33mi	3/2.0 (-1)	1,852 (-1%)	3mo	$274,000	$148	73
343 Karr Ave	0.19mi	3/2.0 (-1)	1,814 (-3%)	8mo	$231,325	$128	73
807 Maple St	0.36mi	3/1.0 (-1)	1,984 (+6%)	1mo	$222,500	$112	61
605 Emerald Ct	0.47mi	4/2.0	1,671 (-11%)	1mo	$299,900	$179	57
512 M St	0.64mi	4/2.5	2,037 (+9%)	1mo	$382,000	$188	55
102 W Emerson Ave	0.42mi	3/2.0 (-1)	1,656 (-12%)	2mo	$242,000	$146	52
249 Karr Ave	0.19mi	3/1.5 (-1)	1,612 (-14%)	8mo	$320,000	$199	52
322 N St	0.56mi	4/1.0	1,738 (-7%)	4mo	$100,000	$58	52
808 Eklund Ave	0.46mi	3/2.0 (-1)	1,700 (-9%)	8mo	$320,000	$188	50
710 6th St	0.66mi	3/2.0 (-1)	2,070 (+11%)	7mo	$290,000	$140	38
815 2nd St	0.50mi	3/1.0 (-1)	1,594 (-15%)	8mo	$231,960	$146	35

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: -7.1%
• Equity multiple: 0.74×
• Total profit: $-14,024
• Equity at exit: $28,330

10-year hold

• IRR: 2.5%
• Equity multiple: 1.18×
• Total profit: $9,503
• Equity at exit: $16,428

Cash invested: $53,200 (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: 7.8×

Monthly cashflow live

• Estimated rent: $2,026 medium
• Mortgage (P&I): −$996
• Tax from tax record: −$263 /mo · $3,154/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$426
• Net cashflow: $262

Break-even live

Break-even rent $1,694

Max offer price $190,000

Occupancy floor 82%

Sensitivity live

Price	-10% $370	-5% $316	+0% $262	+5% $209	+10% $155
Rent	-10% $102	-5% $182	+0% $262	+5% $343	+10% $423
Rate	-1.0pp $358	-0.5pp $311	base $262	+0.5pp $213	+1.0pp $163

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: $47,500
• Closing costs: $5,700
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
829 Emerson Ave Hoquiam, WA	4.0	2.0	1800	$1,800	$1.00	45d	1	0.55mi

Listing history 36 events

1. 2026-06-13
   status $190,000 Pending 42 DOM
2. 2026-06-12
   pricedays on market $190,000 Active 42 DOM
3. 2026-06-09
   days on market $210,000 Active 39 DOM
4. 2026-06-08
   days on market $210,000 Active 38 DOM
5. 2026-06-07
   days on market $210,000 Active 37 DOM
6. 2026-06-05
   days on market $210,000 Active 34 DOM
7. 2026-06-03
   pricedays on market $210,000 Active 33 DOM
8. 2026-06-02
   days on market $220,000 Active 32 DOM
9. 2026-06-01
   days on market $220,000 Active 31 DOM
10. 2026-05-31
    days on market $220,000 Active 30 DOM
11. 2026-05-30
    days on market $220,000 Active 29 DOM
12. 2026-05-12
    price $230,000
13. 2026-05-04
    status Active
14. 2026-04-26
    status Pending
15. 2026-04-22
    listed $240,000 Active
16. 2022-03-28
    soldstatus $310,000 Closed
17. 2022-01-31
    status Pending
18. 2022-01-24
    listed $305,000 Active
19. 2020-06-15
    soldstatus $237,600 Sold
20. 2020-05-11
    status Pending
21. 2020-05-06
    status Pending Inspection
22. 2020-05-02
    listed $215,000 Active
23. 2014-04-16
    historical
24. 2014-04-15
    soldstatus $123,500 Sold
25. 2014-04-15
    soldstatus $123,500
26. 2014-03-22
    status Pending
27. 2014-03-08
    status Pending Inspection
28. 2014-03-01
    status Active
29. 2014-02-25
    status Pending Inspection
30. 2014-02-04
    price $128,850
31. 2014-02-01
    listed $148,850 Active
32. 2012-02-27
    soldstatus $17,000 Sold
33. 2012-01-30
    status Pending
34. 2012-01-25
    status Active
35. 2012-01-21
    status Pending
36. 2012-01-13
    listed $19,800 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: $3,154 · $263/mo
• Projected year-2 tax: $3,154 · $263/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 ≥76°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: $24,318
• − Mortgage interest: −$10,643
• − Property taxes: −$3,154
• − Insurance: −$950
• − Repairs & maintenance: −$1,945
• − Management: −$1,945
• − Depreciation: −$5,527
• Taxable income: $152
• Est. tax owed @ 24.0%: −$37
• After-tax cash flow: $3,113/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

+1061.6% since first listed

25 events — show timeline

• 2026-05-12 Price Changed $230,000 NWMLS as Distributed by MLS Grid
• 2026-05-04 Relisted — NWMLS as Distributed by MLS Grid
• 2026-04-26 Pending — NWMLS as Distributed by MLS Grid
• 2026-04-22 Listed $240,000 NWMLS as Distributed by MLS Grid
• 2022-03-28 Sold (MLS) $310,000 NWMLS as Distributed by MLS Grid
• 2022-01-31 Pending — NWMLS as Distributed by MLS Grid
• 2022-01-24 Listed $305,000 NWMLS as Distributed by MLS Grid
• 2020-06-15 Sold (MLS) $237,600 NWMLS as Distributed by MLS Grid
• 2020-05-11 Pending — NWMLS as Distributed by MLS Grid
• 2020-05-06 Pending — NWMLS as Distributed by MLS Grid
• 2020-05-02 Listed $215,000 NWMLS as Distributed by MLS Grid
• 2014-04-16 Delisted — NWMLS as Distributed by MLS Grid
• 2014-04-15 Sold (Public Records) $123,500 Public Records
• 2014-04-15 Sold (MLS) $123,500 NWMLS as Distributed by MLS Grid
• 2014-03-22 Pending — NWMLS as Distributed by MLS Grid
• 2014-03-08 Pending — NWMLS as Distributed by MLS Grid
• 2014-03-01 Relisted — NWMLS as Distributed by MLS Grid
• 2014-02-25 Pending — NWMLS as Distributed by MLS Grid
• 2014-02-04 Price Changed $128,850 NWMLS as Distributed by MLS Grid
• 2014-02-01 Listed $148,850 NWMLS as Distributed by MLS Grid
• 2012-02-27 Sold (MLS) $17,000 NWMLS as Distributed by MLS Grid
• 2012-01-30 Pending — NWMLS as Distributed by MLS Grid
• 2012-01-25 Relisted — NWMLS as Distributed by MLS Grid
• 2012-01-21 Pending — NWMLS as Distributed by MLS Grid
• 2012-01-13 Listed $19,800 NWMLS as Distributed by MLS Grid

Property tax history

+7.7%/yr

Latest (2026): $3,154 · +8.0% YoY. Source: county tax records.