4787 forwood Ave

Moclips, WA 98571

$260,000D

1 bd · 1.0 ba · 624 sqft · Built 1957 · SingleFamily · Active · 81 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,779/mo
• Mortgage (P&I): −$1,363
• Tax + insurance: −$214
• HOA: −$0
• Vac / Maint / Mgmt: −$374
• Net cashflow: $-172/mo
• Annual: $-2,059/yr
• Cap rate: 5.50%
• Cash-on-cash: -2.83%
• DSCR: 0.87
• 1% rule: 0.68%
• Cash to close: $72,800

Investor read

• This is a 1-bed/1.0-bath single-family listed at $260k.
• At list price, monthly cash flow is $-172 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $230k (11.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $178k (31.6% below list).
• It's been on market 81 days — a 6% lower offer ($244k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $178k (31.6% below list) — sets the bar for 1% rule.
• Local home prices are declining (-1.9%/yr); year-one equity from $2k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Location reads 41/100 on livability (#607 in WA) — a working-class tenant base; expect higher turnover. Strengths: crime A, cost of living B+; Watch: commute C-, health & safety C-, amenities F.
• North Beach School District (rural): math 32% / reading 44% proficiency, ranked #236 of 291 in WA (top 81%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 63% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Pacific Beach Elementary School (110 students, 84% FRL); North Beach Junior High School (162 students, 78% FRL); North Beach Senior High School (177 students, 63% FRL).
• Watch-outs: built in 1957 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 105 active listings in the ZIP; 297 units permitted in Grays Harbor County in 2024 (17 in 5+ unit buildings).
• Grays Harbor County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts since 9y ago; this cycle's ask has dropped $15k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $56k; list at $260k implies a 364% gain — meaningful room to come down on a strong offer.

Questions for listing agent

• 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?
• It's been on market 81 days. Have you received any prior offers? Is the seller open to a 32% concession, seller financing, or rate buy-down credit?
• Built in 1957 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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?
• 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.