4593 Hall Rd · Blaine, WA 98230

$549,000

3 bd · 2.5 ba · 1,526 sqft · Other public records · 57 Days on market

Built 2014 7,841 sqft lot $360/sqft · at area comps Est $546k · at est. $108/mo HOA · 3% of rent ↓ 46% since listing

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Why this score? — see what drove the D- 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).

• Appreciation +10.0/10.0
• ARV discount +7.3/15.0
• Cash flow +6.2/30.0
• Schools +4.7/10.0
• Livability +3.9/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• 1% rule +0.7/10.0
• DSCR +0.5/10.0

Listing remarks

This is one of those homes that just feels good the moment you walk in. Thoughtfully updated and truly move-in ready, it offers a warm, comfortable layout filled with natural light. The kitchen provides great storage and workspace, while the living areas feel open, connected, and easy to live in. Bedrooms offer flexibility for guests, a home office, or simply a place to unwind. Recent updates throughout add confidence and make settling in that much easier. An EV charging station adds everyday convenience. Outside, enjoy a manageable yard and neighborhood beach access just a short walk away—perfect for quiet mornings, evening walks, and a peaceful coastal setting.

Key facts

• Ev charging station
• 7,841 sq ft lot
• Garage

Tags

• EV CHARGING STATION
• NEIGHBORHOOD BEACH ACCESS

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath other listed at $549k.

Deal economics

• At list price, monthly cash flow is $-999 ($-12k/yr) — negative.
• To cash-flow at today's rent, offer at most $373k (32.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $314k (42.8% below list).
• Recommended offer: $314k (42.8% below list) — sets the bar for 1% rule.
• Cap rate 4.1% vs local median 2.1% in Blaine — 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 78/100 on livability (#125 in WA, #2,491 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, health & safety A+, housing A; Watch: amenities F, cost of living F.
• Blaine School District (town): math 49% / reading 55% proficiency, ranked #120 of 291 in WA (top 41%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+3.1%/yr); 454 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 1,190 units permitted in Whatcom County in 2024 (327 in 5+ unit buildings).
• This rent runs 44% of the median local income ($87k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $59k of equity ($4k loan paydown + $55k appreciation (10.0% local appreciation)).
• Whatcom County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$94k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 57 days — a 3% lower offer ($533k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 10y 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 $422k; 30% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $314,223 (42.8% 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 57 days. Have you received any prior offers? Is the seller open to a 43% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
6. 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?
7. 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.
8. 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.
9. 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: 0.57% ✗
• Cap rate: 4.11%
• Cash-on-cash: -7.80%
• DSCR: 0.65
• GRM: 14.6

CMA / ARV

• ARV (median comp): $546,082
• List price: $549,000
• Delta: 0.53%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

10.0% appreciation · 3.1% rent growth · sell at horizon

5-year hold

• IRR: 18.8%
• Equity multiple: 2.53×
• Total profit: $235,538
• Equity at exit: $494,583

10-year hold

• IRR: 17.4%
• Equity multiple: 5.84×
• Total profit: $744,019
• Equity at exit: $1,066,586

Cash invested: $153,720 (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 98230

• Home prices YoY: 14.0%
• Rents YoY: 3.1%
• Active inventory: 454
• Price-to-rent: 14.6×

Monthly cashflow live

• Estimated rent: $3,142 medium
• Mortgage (P&I): −$2,879
• Tax from tax record: −$266 /mo · $3,188/yr
• Insurance: −$229
• HOA: −$108
• Vacancy / Maint / Mgmt: −$660
• Net cashflow: $-999

Break-even live

Break-even rent $4,407

Max offer price $372,503

Occupancy floor —

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: $137,250
• Closing costs: $16,470
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8638 Harborview Rd Blaine, WA	3.0	3.0	2200	$4,250	$1.93	13d	1	1.18mi
1350 Mitchell Ave Blaine, WA	2.0	1.0	1302	$2,095	$1.61	43d	1	1.40mi

HOA detail

• Monthly dues: $108 · $1,296/yr

Listing history 32 events

1. 2026-06-18
   days on market $549,000 Active 57 DOM
2. 2026-06-17
   days on market $549,000 Active 56 DOM
3. 2026-06-16
   days on market $549,000 Active 55 DOM
4. 2026-06-15
   days on market $549,000 Active 54 DOM
5. 2026-06-14
   days on market $549,000 Active 52 DOM
6. 2026-06-13
   days on market $549,000 Active 51 DOM
7. 2026-06-10
   days on market $549,000 Active 49 DOM
8. 2026-06-09
   days on market $549,000 Active 48 DOM
9. 2026-06-08
   days on market $549,000 Active 47 DOM
10. 2026-06-07
    days on market $549,000 Active 46 DOM
11. 2026-06-05
    days on market $549,000 Active 43 DOM
12. 2026-06-02
    days on market $549,000 Active 41 DOM
13. 2026-06-01
    pricedays on market $549,000 Active 40 DOM
14. 2026-05-31
    days on market $565,000 Active 39 DOM
15. 2026-05-30
    days on market $565,000 Active 38 DOM
16. 2026-04-22
    listed $565,000 Active
17. 2023-01-27
    soldstatus $422,000 Closed
18. 2023-01-05
    status Pending
19. 2022-10-19
    listed $460,000 Active
20. 2016-07-05
    historical
21. 2016-06-30
    soldstatus $253,500 Sold
22. 2016-06-30
    soldstatus $253,500
23. 2016-06-24
    status Active
24. 2016-06-24
    price $269,500
25. 2016-05-07
    status Pending
26. 2016-05-03
    status Active
27. 2016-04-26
    status Pending Inspection
28. 2016-04-20
    status Active
29. 2016-04-20
    price $252,500
30. 2016-03-01
    status Pending
31. 2016-02-26
    listed $249,500 Active
32. 2005-10-19
    soldstatus $1,050,000

ⓘ 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: $3,188 · $266/mo
• Projected year-2 tax: $5,380 · $448/mo
• Expected delta: +$2,192/yr (+$183/mo · 68.7%)

ⓘ 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 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥81°F today · 18 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 7/10 Severe 11 unhealthy d/yr today · 11 by 30 yrs out

Taxation est. · year 1

• Rental income: $37,707
• − Mortgage interest: −$30,753
• − Property taxes: −$3,188
• − Insurance: −$2,745
• − Repairs & maintenance: −$3,017
• − Management: −$3,017
• − HOA: −$1,296
• − Depreciation: −$15,971
• Taxable loss: −$22,279
• Est. tax savings @ 24.0%: +$5,347
• After-tax cash flow: $-6,642/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: Blaine School District
• NCES district ID: 5300570
• Math proficiency: 49% ▼ -1.00%
• Reading proficiency: 55% ▼ -2.00%
• Median HH income: $57,085
• Composite: 47.05/100
• National rank: #5128
• State rank: #120 of 291 in WA

Livability — Blaine

• Score: 78/100
• State rank: #125
• US rank: #2491

Category grades

Amenities F Commute A+ Cost of living F Crime B- Employment B Housing A Health & safety A+ User ratings B

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Whatcom County · 209,776 people
• Metro: Bellingham, WA
• Population (ZIP): 18,744
• Household income: $86,623
• Rent vs Own: 20.4% rent · 79.6% own
• Severe rent burden: 454.0

Population outlook (Whatcom County) Hauer SSP2

• Today (2025): 240,408 people
• By 2030: 254,667 · +5.9%
• By 2040: 281,365 · +17.0%
• By 2050: 307,592 · +27.9%
• By 2075: 375,576 · +56.2%
• By 2100: 421,637 · +75.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (77%)
• Race & ethnicity: White 77% Two or more races 11% Hispanic / Latino 9% Asian 3% Pacific Islander 2% Black 1%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Portuguese 6% Iranian 4% Lithuanian 3%
• Foreign-born: 13% · Canada, China
• Languages at home: 89% English-only · Spanish 4% Russian/Polish/Slavic 1% Other Indo-European 1%

Political lean MEDSL · Whatcom

• 2024 margin: Strong D (+24.9) · D 60.8% · R 35.9% · Other 3.3%
• 2008→2024 swing: +6.9pp toward D · 2008: 18.0pp · 2024: 24.9pp
• All cycles: 2024: D+24.9 2020: D+23.9 2016: D+17.7 2012: D+12.1 2008: D+18.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 106.58%
• Current HPI: 868.68
• Rent YoY: ▲ 3.10%
• Metro: Bellingham, 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

-46.2% since first listed

17 events — show timeline

• 2026-04-22 Listed $565,000 NWMLS as Distributed by MLS Grid
• 2023-01-27 Sold (MLS) $422,000 NWMLS as Distributed by MLS Grid
• 2023-01-05 Pending — NWMLS as Distributed by MLS Grid
• 2022-10-19 Listed $460,000 NWMLS as Distributed by MLS Grid
• 2016-07-05 Delisted — NWMLS as Distributed by MLS Grid
• 2016-06-30 Sold (Public Records) $253,500 Public Records
• 2016-06-30 Sold (MLS) $253,500 NWMLS as Distributed by MLS Grid
• 2016-06-24 Relisted — NWMLS as Distributed by MLS Grid
• 2016-06-24 Price Changed $269,500 NWMLS as Distributed by MLS Grid
• 2016-05-07 Pending — NWMLS as Distributed by MLS Grid
• 2016-05-03 Relisted — NWMLS as Distributed by MLS Grid
• 2016-04-26 Pending — NWMLS as Distributed by MLS Grid
• 2016-04-20 Relisted — NWMLS as Distributed by MLS Grid
• 2016-04-20 Price Changed $252,500 NWMLS as Distributed by MLS Grid
• 2016-03-01 Pending — NWMLS as Distributed by MLS Grid
• 2016-02-26 Listed $249,500 NWMLS as Distributed by MLS Grid
• 2005-10-19 Sold (Public Records) $1,050,000 Public Records

Property tax history

+16.7%/yr

Latest (2026): $3,188 · +1.0% YoY. Source: county tax records.