507 W Veterans Ave · Westport, WA 98595

$190,000

2 bd · 2.0 ba · 840 sqft · Manufactured public records · 76 Days on market

Built 1979 6,534 sqft lot $226/sqft · 12% above area Est $179k · 6% over

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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).

• Cash flow +11.5/30.0
• ARV discount +4.7/15.0
• Schools +3.9/10.0
• Livability +3.5/5.0
• DSCR +3.4/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks

Imagine full-time coastal living in the heart of the quaint fishing town of Westport, just a few blocks from the mighty Pacific Ocean. This sturdy single-wide manufactured home offers 2 bedrooms, 1.75 baths, and a spacious 324 sq ft detached bonus room—perfect for guests, hobbies, or a home office. Two additional storage sheds provide plenty of space for gear and tools. Embrace the Westport lifestyle with year-round community events, such as the Art & Seafood Festival, and Rusty Scuppers Pirate Daze. Enjoy strolls along the marina, sunrises over pristine beaches, and some of the best clam digging spots in the Pacific Northwest. Whether you're looking for a permanent residence or

Key facts

• Detached bonus room
• Storage sheds
• 6,534 sq ft lot

Tags

• DETACHED BONUS ROOM
• STORAGE SHEDS

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $190k.

Deal economics

• At list price, monthly cash flow is $-61 ($-736/yr) — negative.
• To cash-flow at today's rent, offer at most $179k (5.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $141k (26.0% below list).
• Recommended offer: $141k (26.0% below list) — sets the bar for 1% rule.
• Cap rate 5.9% 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 $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 76 days — a 6% lower offer ($179k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 23y ago; this cycle's ask has dropped $10k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $30k; list at $190k implies a 533% gain — meaningful room to come down on a strong offer.

Recommended offer $140,633 (26.0% 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. It's been on market 76 days. Have you received any prior offers? Is the seller open to a 26% concession, seller financing, or rate buy-down credit?
3. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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 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: 0.74% ✗
• Cap rate: 5.91%
• Cash-on-cash: -1.38%
• DSCR: 0.94
• GRM: 11.3

CMA / ARV

• ARV (median comp): $178,953
• List price: $190,000
• Delta: 6.17%
• Verdict: FAIR
• Comps: 7 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
802 S Forrest St #2	0.16mi	2/1.0	784 (-7%)	11mo	$52,000	$66	68
401 Starr St	0.33mi	2/1.0	936 (+11%)	7mo	$135,000	$144	56
210 W Pine Ave	0.35mi	2/1.0	816 (-3%)	24mo	$240,000	$294	55
571 N Forrest St	0.62mi	3/2.0 (+1)	924 (+10%)	2mo	$245,000	$265	48

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: -18.6%
• Equity multiple: 0.35×
• Total profit: $-34,762
• Equity at exit: $28,330

10-year hold

• IRR: -11.1%
• Equity multiple: 0.33×
• Total profit: $-35,568
• 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 98595

• Active inventory: 120
• Price-to-rent: 11.3×

Monthly cashflow live

• Estimated rent: $1,406 medium
• Mortgage (P&I): −$996
• Tax from tax record: −$97 /mo · $1,162/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$295
• Net cashflow: $-61

Break-even live

Break-even rent $1,484

Max offer price $179,160

Occupancy floor 99%

Sensitivity live

Price	-10% $46	-5% $-8	+0% $-61	+5% $-115	+10% $-169
Rent	-10% $-172	-5% $-117	+0% $-61	+5% $-6	+10% $50
Rate	-1.0pp $34	-0.5pp $-13	base $-61	+0.5pp $-111	+1.0pp $-161

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: —

Listing history 19 events

1. 2026-06-19
   days on market $190,000 Active 76 DOM
2. 2026-06-18
   days on market $190,000 Active 75 DOM
3. 2026-06-17
   days on market $190,000 Active 74 DOM
4. 2026-06-16
   days on market $190,000 Active 73 DOM
5. 2026-06-15
   days on market $190,000 Active 72 DOM
6. 2026-06-14
   days on market $190,000 Active 70 DOM
7. 2026-06-13
   price $190,000 Active 69 DOM
8. 2026-06-12
   days on market $200,000 Active 69 DOM
9. 2026-06-09
   days on market $200,000 Active 66 DOM
10. 2026-06-08
    days on market $200,000 Active 65 DOM
11. 2026-06-07
    days on market $200,000 Active 64 DOM
12. 2026-06-05
    days on market $200,000 Active 61 DOM
13. 2026-06-02
    days on market $200,000 Active 59 DOM
14. 2026-06-01
    days on market $200,000 Active 58 DOM
15. 2026-05-31
    days on market $200,000 Active 57 DOM
16. 2026-05-30
    days on market $200,000 Active 56 DOM
17. 2026-04-04
    listed $200,000 Active
18. 2004-03-29
    soldstatus $30,000
19. 2003-11-24
    listed $37,500

ⓘ 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: $1,162 · $97/mo
• Projected year-2 tax: $1,862 · $155/mo
• Expected delta: +$700/yr (+$58/mo · 60.3%)

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

Taxation est. · year 1

• Rental income: $16,876
• − Mortgage interest: −$10,643
• − Property taxes: −$1,162
• − Insurance: −$950
• − Repairs & maintenance: −$1,350
• − Management: −$1,350
• − Depreciation: −$5,527
• Taxable loss: −$4,106
• Est. tax savings @ 24.0%: +$985
• After-tax cash flow: $249/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

+433.3% since first listed

3 events — show timeline

• 2026-04-04 Listed $200,000 NWMLS as Distributed by MLS Grid
• 2004-03-29 Sold (MLS) $30,000 NWMLS as Distributed by MLS Grid
• 2003-11-24 Listed $37,500 NWMLS as Distributed by MLS Grid

Property tax history

+6.2%/yr

Latest (2026): $1,162 · +16.1% YoY. Source: county tax records.