710 S Hancock Ave Unit 102&3 · Westport, WA 98595

$24,900

2 bd · 2.0 ba · 650 sqft · Condo · 301 Days on market

Built 1969 $38/sqft · 89% below area $500/mo HOA · 39% of rent ↓ 34% since listing

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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
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Unique corner ground floor double unit at Chateau Westport. This unit has a much bigger kitchen area than other units. Full stove and oven, sink and cupboards and counters. Fireplace room with a King bed and dining table. Adjoining, Queen bed room. On the ground floor so pets are allowed. Chateau has the only indoor Pool in Westport. Kid zone, Playground, Volleyball, Basketball & direct access to the beach. Owner and guests are allowed to use room for free for up to 45 days per year. No full time use, no rentals. Unit has new laminate flooring, and new furniture. Owners share in ownership of entire 28 acre oceanfront property. Escape to the beach to cool off during the Summer and retu

Key facts

• Bigger kitchen area
• Fireplace room
• Indoor pool

Tags

• BIGGER KITCHEN AREA
• FIREPLACE ROOM
• DIRECT ACCESS TO THE BEACH
• INDOOR POOL
• 28 ACRE OCEANFRONT PROPERTY

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $25k.

Deal economics

• At list price, monthly cash flow is $352 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $25k).
• Recommended offer: $22k (12.0% below list) — sets the bar for market timing.
• Cap rate 23.3% 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 $172 of loan paydown is wiped out by about $747 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 $7k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 301 days — a 12% lower offer ($22k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 39% of rent.

Recommended offer $21,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 301 days. Have you received any prior offers? Is the seller open to a 12% 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. 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. 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?
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: 5.21% ✓
• Cap rate: 23.28%
• Cash-on-cash: 60.66%
• DSCR: 3.70
• GRM: 1.6

CMA / ARV

• ARV (median comp): $225,268
• List price: $24,900
• Delta: -88.95%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 60.0%
• Equity multiple: 3.69×
• Total profit: $18,739
• Equity at exit: $3,713

10-year hold

• IRR: 64.9%
• Equity multiple: 7.68×
• Total profit: $46,549
• Equity at exit: $2,153

Cash invested: $6,972 (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 98595

• Active inventory: 120
• Price-to-rent: 1.6×

Monthly cashflow live

• Estimated rent: $1,297 medium
• Mortgage (P&I): −$131
• Tax est. 1.5%: −$31 /mo · $374/yr
• Insurance: −$10
• HOA: −$500
• Vacancy / Maint / Mgmt: −$272
• Net cashflow: $352

Break-even live

Break-even rent $851

Max offer price $24,900

Occupancy floor 68%

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: $6,225
• Closing costs: $747
• Reserves months: —
• Total cash needed: —

HOA detail condo

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

Listing history 18 events

1. 2026-06-19
   days on market $24,900 Active 301 DOM
2. 2026-06-18
   days on market $24,900 Active 300 DOM
3. 2026-06-17
   days on market $24,900 Active 299 DOM
4. 2026-06-16
   days on market $24,900 Active 298 DOM
5. 2026-06-15
   days on market $24,900 Active 297 DOM
6. 2026-06-14
   days on market $24,900 Active 295 DOM
7. 2026-06-12
   days on market $24,900 Active 294 DOM
8. 2026-06-09
   days on market $24,900 Active 291 DOM
9. 2026-06-08
   days on market $24,900 Active 290 DOM
10. 2026-06-07
    days on market $24,900 Active 289 DOM
11. 2026-06-05
    days on market $24,900 Active 286 DOM
12. 2026-06-02
    days on market $24,900 Active 284 DOM
13. 2026-06-01
    days on market $24,900 Active 283 DOM
14. 2026-05-31
    days on market $24,900 Active 282 DOM
15. 2026-05-30
    days on market $24,900 Active 281 DOM
16. 2026-02-17
    price $24,900
17. 2026-01-04
    price $28,000
18. 2025-08-22
    listed $38,000 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: $15,562
• − Mortgage interest: −$1,395
• − Property taxes: −$374
• − Insurance: −$124
• − Repairs & maintenance: −$1,245
• − Management: −$1,245
• − HOA: −$6,000
• − Depreciation: −$724
• Taxable income: $4,455
• Est. tax owed @ 24.0%: −$1,069
• After-tax cash flow: $3,160/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: 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

-34.5% since first listed

3 events — show timeline

• 2026-02-17 Price Changed $24,900 NWMLS as Distributed by MLS Grid
• 2026-01-04 Price Changed $28,000 NWMLS as Distributed by MLS Grid
• 2025-08-22 Listed $38,000 NWMLS as Distributed by MLS Grid