6062 State Route 20 #14 · Port Hadlock-Irondale, WA 98368

$92,900

1 bd · 1.0 ba · 403 sqft · Manufactured public records · 56 Days on market

Built 2021 924 sqft lot $231/sqft · 7% below area Est $100k · 7% under

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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 +10.7/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.9/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Affordable living near Port Townsend is hard to find, until now. This well maintained home offers an incredible opportunity to enjoy the Port Townsend lifestyle without the high price tag. Relax on the covered front porch and enjoy the privacy setting with space to create your own landscaping vision. Vaulted ceilings give the home a bright, open feel, while stainless steel appliances, and a generously sized loft provide comfort and functionality in a thoughtfully designed layout. Shed to convey as well. Can install a metal carport and fence with park approval. Located on leased land at $619.50 per month, which includes septic maintenance by the park. This home offers manageable monthly livi

Key facts

• Covered front porch
• Privacy setting
• Shed to convey

Tags

• COVERED FRONT PORCH
• PRIVACY SETTING
• STAINLESS STEEL APPLIANCES
• GENEROUSLY SIZED LOFT
• SHED TO CONVEY
• EASY ACCESS TO HIGHWAY 20

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath manufactured listed at $93k.

Deal economics

• At list price, monthly cash flow is $634 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $93k).
• Recommended offer: $90k (3.0% below list) — sets the bar for market timing.
• Cap rate 14.5% vs local median 1.8% in Port Hadlock-Irondale — 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: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Port Townsend School District (town): math 47% / reading 64% proficiency, ranked #101 of 291 in WA (top 35%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 204 active listings in the ZIP; 147 units permitted in Jefferson County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $642 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Jefferson County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $26k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 56 days — a 3% lower offer ($90k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y 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.

Recommended offer $90,113 (3.0% below list)

Questions for the listing agent

1. It's been on market 56 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 1.67% ✓
• Cap rate: 14.48%
• Cash-on-cash: 29.23%
• DSCR: 2.30
• GRM: 5.0

CMA / ARV

• ARV (median comp): $99,905
• List price: $92,900
• Delta: -7.01%
• Verdict: FAIR
• Comps: 1 within 2.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6062 Hwy 20 #10	0.05mi	1/1.0	389 (-4%)	10mo	$99,500	$256	83
6062 Hwy 20 #9	0.10mi	1/1.0	368 (-9%)	13mo	$108,000	$293	70

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: 23.6%
• Equity multiple: 1.97×
• Total profit: $25,293
• Equity at exit: $13,852

10-year hold

• IRR: 31.5%
• Equity multiple: 3.84×
• Total profit: $73,962
• Equity at exit: $8,032

Cash invested: $26,012 (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 98368

• Active inventory: 204
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $1,555 medium
• Mortgage (P&I): −$487
• Tax from tax record: −$69 /mo · $831/yr
• Insurance: −$39
• HOA: −$0
• Vacancy / Maint / Mgmt: −$327
• Net cashflow: $634

Break-even live

Break-even rent $753

Max offer price $92,900

Occupancy floor 54%

Sensitivity live

Price	-10% $686	-5% $660	+0% $634	+5% $607	+10% $581
Rent	-10% $511	-5% $572	+0% $634	+5% $695	+10% $756
Rate	-1.0pp $680	-0.5pp $657	base $634	+0.5pp $609	+1.0pp $585

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: $23,225
• Closing costs: $2,787
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-06-05
   days on market $92,900 Active 56 DOM
2. 2026-06-03
   days on market $92,900 Active 55 DOM
3. 2026-06-02
   days on market $92,900 Active 54 DOM
4. 2026-06-01
   days on market $92,900 Active 53 DOM
5. 2026-05-31
   days on market $92,900 Active 52 DOM
6. 2026-05-30
   days on market $92,900 Active 51 DOM
7. 2026-03-05
   listed $92,900 Active
8. 2022-01-07
   soldstatus $120,000
9. 2022-01-07
   listed $120,000
10. 1996-07-26
    soldstatus $16,000

ⓘ 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: $831 · $69/mo
• Projected year-2 tax: $910 · $76/mo
• Expected delta: +$79/yr (+$7/mo · 9.5%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 8 d/yr ≥82°F today · 19 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 5/10 Major 7 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,664
• − Mortgage interest: −$5,204
• − Property taxes: −$831
• − Insurance: −$464
• − Repairs & maintenance: −$1,493
• − Management: −$1,493
• − Depreciation: −$2,703
• Taxable income: $6,476
• Est. tax owed @ 24.0%: −$1,554
• After-tax cash flow: $6,049/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: Port Townsend School District
• NCES district ID: 5306840
• Math proficiency: 47% ▼ -2.00%
• Reading proficiency: 64% ▼ -2.00%
• Median HH income: $46,686
• Composite: 48.79/100
• National rank: #4526
• State rank: #101 of 291 in WA

Livability — Port Hadlock-Irondale

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• County: Jefferson County · 17,304 people
• City population: 3,480
• Metro: nan
• Population (ZIP): 17,304
• Household income: $69,688
• Rent vs Own: 26.1% rent · 73.9% own
• Severe rent burden: 345.0

Population outlook (Jefferson County) Hauer SSP2

• Today (2025): 31,415 people
• By 2030: 31,568 · +0.5%
• By 2040: 30,911 · -1.6%
• By 2050: 29,927 · -4.7%
• By 2075: 28,489 · -9.3%
• By 2100: 26,483 · -15.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Two or more races 8% Hispanic / Latino 4% Asian 2%
• Common ancestry: Slovak 7% Portuguese 5% Lithuanian 3%
• Foreign-born: 6% · Canada, China
• Languages at home: 92% English-only · Spanish 4% Chinese 1% French/Haitian/Cajun 1%

Political lean MEDSL · Jefferson

• 2024 margin: Solid D (+45.3) · D 71.0% · R 25.7% · Other 3.2%
• 2008→2024 swing: +10.7pp toward D · 2008: 34.6pp · 2024: 45.3pp
• All cycles: 2024: D+45.3 2020: D+41.4 2016: D+32.7 2012: D+31.4 2008: D+34.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -577.30%
• Current HPI: 183.9706
• Rent YoY: —
• Metro: nan
• 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

+480.6% since first listed

4 events — show timeline

• 2026-03-05 Listed $92,900 NWMLS as Distributed by MLS Grid
• 2022-01-07 Listed $120,000 NWMLS as Distributed by MLS Grid
• 2022-01-07 Sold (MLS) $120,000 NWMLS as Distributed by MLS Grid
• 1996-07-26 Sold (Public Records) $16,000 Public Records

Property tax history

+19.5%/yr

Latest (2026): $831 · +2.8% YoY. Source: county tax records.