603 6th St · Hoquiam, WA 98550

$80,000

2 bd · 1.0 ba · 1,159 sqft · SingleFamily public records · 24 Days on market

Built 1910 2,091 sqft lot

---

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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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

Fix and flip or add this little gem to your rental portfolio. It's in a stable, desirable neighborhood of well-kept homes. It's size and layout make it a good entry-level project for an investor or DIYer. There's so much potential for the buyer who has determination and a vision. Layout was for a 2 bedroom, possible 3rd, with a single bath. Buyer advised to do their due diligence.

Key facts

• 2,091 sq ft lot
• Built 1910
• Listed 23 days

Property features AI

Finance

• Financial info: Listing terms: Cash

Exterior

• Parking: No dedicated parking
• Utilities: Community water (City of Hoquiam); Sewer connected (City of Hoquiam); Electric water heater; Power provided by Grays Harbor PUD; Cable and internet connected (Xfinity)
• Home design: Single-family residence; One and one-half story; Main-level entry; Built on lot
• Construction: Wood construction; Composition roof; Block and pier (pillar/post/pier) foundation; Built with electric energy source
• Exterior features: Wood exterior products; Paved lot with sidewalk; Level topography; Has a view

Interior

• Bedrooms: 2 bedrooms (1 on main level, 1 on upper level)
• Bathrooms: 1 full bathroom (main level) with bathtub and shower
• Heating & cooling: Forced air heating; No cooling
• Interior features: Water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $323 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $80k).
• Recommended offer: $79k (1.5% below list) — sets the bar for market timing.
• Cap rate 17.5% 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, 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; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $553 of loan paydown is wiped out by about $2k 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 $22k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 24 days — a 2% lower offer ($79k) is reasonable based on typical stale-listing flexibility.
• 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.
• Current owner paid $27k; list at $80k implies a 196% gain — meaningful room to come down on a strong offer.

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 $78,800 (1.5% below list)

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: 2.02% ✓
• Cap rate: 17.54%
• Cash-on-cash: 40.16%
• DSCR: 2.79
• GRM: 4.1

CMA / ARV

• ARV (on-the-fly): $221,369
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
402 L St	0.14mi	2/1.0	1,052 (-9%)	5mo	$255,000	$242	74
816 Spruce St	0.49mi	2/1.0	1,199 (+4%)	1mo	$274,000	$229	70
401 Emerson Ave	0.40mi	3/1.0 (+1)	1,196 (+3%)	3mo	$249,885	$209	69
432 Eklund Ave	0.46mi	2/1.0	1,088 (-6%)	1mo	$190,000	$175	67
624 L St	0.05mi	2/2.0	1,326 (+14%)	4mo	$234,000	$176	66
311 N St	0.22mi	2/1.0	1,269 (+10%)	10mo	$220,500	$174	65
213 Garfield St	0.42mi	2/1.0	1,226 (+6%)	11mo	$115,500	$94	62
324 Wheeler Ave	0.63mi	2/1.0	1,176 (+2%)	15mo	$235,000	$200	56
408 Karr Ave	0.43mi	3/1.0 (+1)	1,284 (+11%)	5mo	$211,500	$165	53
245 Eklund Ave	0.60mi	3/1.0 (+1)	1,288 (+11%)	3mo	$246,000	$191	46
231 Karr Ave	0.58mi	3/1.0 (+1)	1,046 (-10%)	12mo	$265,000	$253	42
342 Wheeler Ave	0.61mi	3/1.0 (+1)	996 (-14%)	2mo	$105,000	$105	41

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: 8.9%
• Equity multiple: 1.35×
• Total profit: $7,883
• Equity at exit: $11,928

10-year hold

• IRR: 18.3%
• Equity multiple: 2.54×
• Total profit: $34,458
• Equity at exit: $6,917

Cash invested: $22,400 (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: 4.1×

Monthly cashflow live

• Estimated rent: $1,616 medium
• Mortgage (P&I): −$420
• Tax from tax record: −$74 /mo · $891/yr
• Insurance: −$33
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$339
• Net cashflow: $323

Break-even live

Break-even rent $1,207

Max offer price $80,000

Occupancy floor 75%

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: $20,000
• Closing costs: $2,400
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2435 Bay Ave Hoquiam, WA	2.0	1.0	900	$1,399	$1.55	43d	1	1.02mi
2515 Sumner Ave Unit 2 Hoquiam, WA	2.0	1.0	700	$1,250	$1.79	43d	1	1.05mi
335 Endresen Rd Hoquiam, WA	3.0	1.0	914	$2,300	$2.52	43d	1	1.19mi

Listing history 20 events

1. 2026-06-19
   days on market $80,000 Active 24 DOM
2. 2026-06-18
   days on market $80,000 Active 23 DOM
3. 2026-06-17
   days on market $80,000 Active 22 DOM
4. 2026-06-16
   days on market $80,000 Active 21 DOM
5. 2026-06-15
   days on market $80,000 Active 20 DOM
6. 2026-06-14
   days on market $80,000 Active 18 DOM
7. 2026-06-12
   days on market $80,000 Active 17 DOM
8. 2026-06-09
   days on market $80,000 Active 14 DOM
9. 2026-06-08
   days on market $80,000 Active 13 DOM
10. 2026-06-07
    days on market $80,000 Active 12 DOM
11. 2026-06-05
    days on market $80,000 Active 9 DOM
12. 2026-06-03
    days on market $80,000 Active 8 DOM
13. 2026-06-02
    days on market $80,000 Active 7 DOM
14. 2026-06-01
    days on market $80,000 Active 6 DOM
15. 2026-05-31
    days on market $80,000 Active 5 DOM
16. 2026-05-30
    days on market $80,000 Active 4 DOM
17. 2026-05-26
    listed $80,000 Active
18. 2018-06-05
    soldstatus $27,000 Sold
19. 2018-05-23
    status Pending
20. 2018-05-16
    listed $30,000 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: $891 · $74/mo
• Projected year-2 tax: $891 · $74/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 6/10 Major FEMA zone AE · 75% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 1/10 Low 8 d/yr ≥77°F today · 19 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: $19,394
• − Mortgage interest: −$4,481
• − Property taxes: −$891
• − Insurance: −$5,518
• − Repairs & maintenance: −$1,551
• − Management: −$1,551
• − Depreciation: −$2,327
• Taxable income: $3,072
• Est. tax owed @ 24.0%: −$737
• After-tax cash flow: $3,139/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

+166.7% since first listed

4 events — show timeline

• 2026-05-26 Listed $80,000 NWMLS as Distributed by MLS Grid
• 2018-06-05 Sold (MLS) $27,000 NWMLS as Distributed by MLS Grid
• 2018-05-23 Pending — NWMLS as Distributed by MLS Grid
• 2018-05-16 Listed $30,000 NWMLS as Distributed by MLS Grid

Property tax history

+9.9%/yr

Latest (2026): $891 · +2.4% YoY. Source: county tax records.