709 Monroe St · Hoquiam, WA 98550

$115,000

2 bd · 1.0 ba · 816 sqft · SingleFamily public records · 3 Days on market

Built 1910 4,356 sqft lot Est $171k · 33% under ↓ 11% since listing

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Why this score? — see what drove the B+ 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 +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.8/10.0
• 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

Great opportunity on fixer property that was rehabbed in 2018--Paint, Flooring New Windows, New Electrical Panel, New Insulation. Tenant damaged and now this 2 bedroom, 1 bath bungalow in Hoquiam needs some love. Entry/porch, spacious living room, kitchen with room for large dining table. Bonus room to back small deck, alley & parking spot. Roof is newer and the bathroom & kitchen were updated in 2018 as well. Large fenced front yard, detached converted garage and alley access. Cash Only. No Financing Due to Condition.

Key facts

• Rehabbed in 2018
• Bonus room
• New electrical panel

Tags

• REHABBED IN 2018
• NEW WINDOWS
• NEW ELECTRICAL PANEL
• NEW INSULATION
• SPACIOUS LIVING ROOM
• BONUS ROOM

🏷️ Possibly a rental listed for sale. The $115,000 price doesn't fit this home's estimated sale value (~$170,544) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $125 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $115k).
• Cap rate 12.1% vs local median 3.8% 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; 3 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 297 units permitted in Grays Harbor County in 2024 (17 in 5+ unit buildings).
• This rent runs 37% 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 $795 of loan paydown is wiped out by about $3k 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 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 8y 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 1910 — 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 $115,000

Questions for the listing agent

1. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 1.48% ✓
• Cap rate: 12.05%
• Cash-on-cash: 20.56%
• DSCR: 1.91
• GRM: 5.6

CMA / ARV

• ARV (on-the-fly): $170,544
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
704 Lincoln St	0.05mi	2/1.0	832 (+2%)	1mo	$180,000	$216	93
417 Monroe St	0.17mi	2/1.0	843 (+3%)	2mo	$130,000	$154	85
412 Karr Ave	0.56mi	3/1.0 (+1)	910 (+12%)	6mo	$190,000	$209	44
1404 C St	0.47mi	2/1.0	930 (+14%)	19mo	$160,000	$172	39

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: -8.8%
• Equity multiple: 0.68×
• Total profit: $-10,370
• Equity at exit: $17,147

10-year hold

• IRR: 1.1%
• Equity multiple: 1.07×
• Total profit: $2,410
• Equity at exit: $9,943

Cash invested: $32,200 (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: 5.6×

Monthly cashflow live

• Estimated rent: $1,703 medium
• Mortgage (P&I): −$603
• Tax from tax record: −$143 /mo · $1,712/yr
• Insurance: −$48
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$358
• Net cashflow: $125

Break-even live

Break-even rent $1,545

Max offer price $115,000

Occupancy floor 88%

Sensitivity live

Price	-10% $190	-5% $158	+0% $125	+5% $93	+10% $60
Rent	-10% $-9	-5% $58	+0% $125	+5% $193	+10% $260
Rate	-1.0pp $183	-0.5pp $155	base $125	+0.5pp $95	+1.0pp $65

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
335 Endresen Rd Hoquiam, WA	3.0	1.0	914	$2,300	$2.52	44d	1	0.67mi
2515 Sumner Ave Unit 2 Hoquiam, WA	2.0	1.0	700	$1,250	$1.79	44d	1	1.10mi
2435 Bay Ave Hoquiam, WA	2.0	1.0	900	$1,399	$1.55	44d	1	1.24mi

Listing history 8 events

1. 2025-06-20
   status Pending
2. 2025-06-17
   listed $115,000 Active
3. 2018-09-14
   soldstatus $118,950 Sold
4. 2018-09-14
   soldstatus $118,950
5. 2018-08-22
   status Pending
6. 2018-08-13
   status Pending Inspection
7. 2018-08-10
   price $119,950
8. 2018-07-26
   listed $129,900 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: $1,712 · $143/mo
• Projected year-2 tax: $1,712 · $143/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 8/10 Severe FEMA zone AE · 95% 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: $20,438
• − Mortgage interest: −$6,442
• − Property taxes: −$1,712
• − Insurance: −$5,694
• − Repairs & maintenance: −$1,635
• − Management: −$1,635
• − Depreciation: −$3,345
• Taxable loss: −$25
• Est. tax savings @ 24.0%: +$6
• After-tax cash flow: $1,509/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

-11.5% since first listed

8 events — show timeline

• 2025-06-20 Pending — NWMLS as Distributed by MLS Grid
• 2025-06-17 Listed $115,000 NWMLS as Distributed by MLS Grid
• 2018-09-14 Sold (Public Records) $118,950 Public Records
• 2018-09-14 Sold (MLS) $118,950 NWMLS as Distributed by MLS Grid
• 2018-08-22 Pending — NWMLS as Distributed by MLS Grid
• 2018-08-13 Pending — NWMLS as Distributed by MLS Grid
• 2018-08-10 Price Changed $119,950 NWMLS as Distributed by MLS Grid
• 2018-07-26 Listed $129,900 NWMLS as Distributed by MLS Grid

Property tax history

+7.6%/yr

Latest (2026): $1,712 · +2.1% YoY. Source: county tax records.