1011 Macfarlane · Aberdeen, WA 98520

$320,000

4 bd · 2.0 ba · 1,520 sqft · MultiFamily public records · 47 Days on market

Built 1976 Average condition 6,000 sqft lot $211/sqft · 62% above area Est $392k · 18% under

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Why this score? — see what drove the C- 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 +15.3/30.0
• ARV discount +15.0/15.0
• DSCR +4.7/10.0
• Livability +4.0/5.0
• Rent growth +3.6/5.0
• Schools +3.6/10.0
• 1% rule +3.5/10.0
• Condition / age +2.8/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Enjoy a stable tenancy with this nicw duplex in a great location. 2 bedroom 1 bath makes for a nice place to live. Close to the ocean. Units have been upgraded

Key facts

• Close to the ocean
• Great location
• Upgraded units

Tags

• GREAT LOCATION
• CLOSE TO THE OCEAN
• UPGRADED UNITS

Property features AI

Finance

• Other: Listing terms: Cash, Conventional, See remarks
• Financial info: Total monthly income reported: $2,800; Gross scheduled income: $33,600; Gross adjusted income: $26,556; Net operating income: $26,556; Total expenses: $7,044; Electric expense: $84; Insurance expense: $800; Other expense: $585; Gross rent multiplier: 10.41; Vacancy rate: 10%; 3 total units in building; 2 units in building noted in another field

Exterior

• Parking: 2 covered parking spaces; 2 garage spaces; 2 uncovered parking spaces; Approximately 576 sq ft garage
• Utilities: Electric service; Sewer connected
• Home design: Residential income duplex; Single-story structure
• Construction: Wood construction; Composition roof; Block foundation; Built on a duplex structure
• Exterior features: Wood exterior

Interior

• Kitchen: Unit 2011: Range/oven, Refrigerator, Dishwasher; Unit 2013: Range/oven, Refrigerator, Dishwasher
• Bedrooms: Unit 2011: 2 bedrooms; Unit 2013: 2 bedrooms
• Flooring: Laminate
• Bathrooms: Unit 2011: 1 bathroom; Unit 2013: 1 bathroom
• Heating & cooling: Baseboard heating; No central cooling
• Interior features: Laminate flooring; Baseboard heating
• Laundry & utility: No in-unit washer/dryer reported for units

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $320k. Condition is rated average.

Deal economics

• At list price, monthly cash flow is $116 ($1k/yr) — positive. Per door: $58/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $272k (15.0% below list).
• Recommended offer: $272k (15.0% below list) — sets the bar for 1% rule.
• Cap rate 6.7% vs local median 4.1% in Aberdeen — 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 81/100 on livability (#73 in WA, #1,320 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: schools D+, crime D-, employment F.
• Aberdeen School District (town): math 35% / reading 45% proficiency, ranked #222 of 291 in WA (top 76%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 61% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+4.3%/yr); 257 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 297 units permitted in Grays Harbor County in 2024 (17 in 5+ unit buildings).
• At $2,721/mo this rent would consume 56% of the median local household income ($58k/yr) (locally 635% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k 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 47 days — a 3% lower offer ($310k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 5y ago; this cycle's ask has dropped $30k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $268k; 19% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $272,100 (15.0% below list)

Questions for the listing agent

1. It's been on market 47 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.85% ✗
• Cap rate: 6.73%
• Cash-on-cash: 1.56%
• DSCR: 1.07
• GRM: 9.8

CMA / ARV

• ARV (median comp): $391,584
• List price: $320,000
• Delta: -18.28%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
522 -524 W Cushing St	0.41mi	4/2.0	1,482 (-2%)	10mo	$310,000	$209	68
526 -528 W Cushing St	0.40mi	4/2.0	1,482 (-2%)	11mo	$310,000	$209	68
518 -520 W Cushing St	0.42mi	4/2.0	1,482 (-2%)	10mo	$310,000	$209	67

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 · 4.35% rent growth · sell at horizon

5-year hold

• IRR: -12.5%
• Equity multiple: 0.54×
• Total profit: $-40,779
• Equity at exit: $47,713

10-year hold

• IRR: -1.6%
• Equity multiple: 0.88×
• Total profit: $-10,462
• Equity at exit: $27,668

Cash invested: $89,600 (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 98520

• Rents YoY: 4.3%
• Active inventory: 257
• Price-to-rent: 19.6×

Monthly cashflow live

• Estimated rent: $2,721 high
• Mortgage (P&I): −$1,678
• Tax from tax record: −$222 /mo · $2,664/yr
• Insurance: −$133
• HOA: −$0
• Vacancy / Maint / Mgmt: −$571
• Net cashflow: $116

Break-even live

Break-even rent $2,574

Max offer price $320,000

Occupancy floor 91%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,722
Total (2 units)			$2,721

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: $80,000
• Closing costs: $9,600
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
908 E 1st St Aberdeen, WA	3.0	1.0	1608	$2,100	$1.31	43d	1	1.13mi
912 Bell Dr Cosmopolis, WA	3.0	2.0	1877	$2,600	$1.39	43d	1	1.45mi

Listing history 20 events

1. 2026-06-19
   days on market $320,000 Active 47 DOM
2. 2026-06-18
   days on market $320,000 Active 46 DOM
3. 2026-06-17
   days on market $320,000 Active 45 DOM
4. 2026-06-16
   days on market $320,000 Active 44 DOM
5. 2026-06-15
   days on market $320,000 Active 43 DOM
6. 2026-06-14
   days on market $320,000 Active 41 DOM
7. 2026-06-12
   days on market $320,000 Active 40 DOM
8. 2026-06-09
   days on market $320,000 Active 37 DOM
9. 2026-06-08
   days on market $320,000 Active 36 DOM
10. 2026-06-07
    days on market $320,000 Active 35 DOM
11. 2026-06-03
    days on market $320,000 Active 31 DOM
12. 2026-06-02
    days on market $320,000 Active 30 DOM
13. 2026-06-01
    days on market $320,000 Active 29 DOM
14. 2026-05-31
    days on market $320,000 Active 28 DOM
15. 2026-05-30
    price $320,000 Active 27 DOM
16. 2025-10-23
    listed $350,000 Active
17. 2021-04-01
    soldstatus $268,000 Sold
18. 2021-03-19
    status Pending
19. 2021-02-28
    status Pending Inspection
20. 2021-02-17
    listed $268,000 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: $2,664 · $222/mo
• Projected year-2 tax: $3,136 · $261/mo
• Expected delta: +$472/yr (+$39/mo · 17.7%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X · 24% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 1/10 Low 8 d/yr ≥78°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 6/10 Major 7 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $32,652
• − Mortgage interest: −$17,925
• − Property taxes: −$2,664
• − Insurance: −$1,600
• − Repairs & maintenance: −$2,612
• − Management: −$2,612
• − Depreciation: −$9,309
• Taxable loss: −$4,070
• Est. tax savings @ 24.0%: +$977
• After-tax cash flow: $2,371/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.

Condition & rehab AI · 12 photos

Average 55/100 Cosmetic rehab

A stable two-unit duplex with basic updates and some wear, offering good potential for cosmetic upgrades to increase value.

Repairs flagged

• Minor kitchen cabinets — basic cabinetry
• Minor bathroom fixtures — dated fixtures
• Minor exterior siding — some discoloration

Value-add opportunities

• Both update kitchen cabinets — modernizes kitchen and adds value
• Both update bathroom fixtures — modernizes bathroom and adds value
• Both paint interior walls — enhances interior appearance and adds value

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · basic cabinetry	Minor	$500–3,000
bathroom fixtures · dated fixtures	Minor	$500–3,000
exterior siding · some discoloration	Minor	$500–3,000
Total estimated repair cost · 3 items		$1,500–9,000

Value-add ROI direction

• Both update kitchen cabinets — modernizes kitchen and adds value ↑
• Both update bathroom fixtures — modernizes bathroom and adds value ↑
• Both paint interior walls — enhances interior appearance and adds value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Aberdeen School District
• NCES district ID: 5300030
• Math proficiency: 35% ▼ -1.00%
• Reading proficiency: 45% ▬ 0.00%
• Median HH income: $41,896
• Composite: 36.13/100
• National rank: #9477
• State rank: #222 of 291 in WA

Livability — Aberdeen

• Score: 81/100
• State rank: #73
• US rank: #1320

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Aberdeen, WA
• County: Grays Harbor County · 44,693 people
• City population: 24,888
• Metro: Aberdeen, WA
• Population (ZIP): 24,888
• Household income: $58,153
• Rent vs Own: 35.4% rent · 64.6% own
• Severe rent burden: 635.0

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 (70%)
• Race & ethnicity: White 70% Hispanic / Latino 16% Two or more races 9% Black 4% Native American 3% Asian 1% Pacific Islander 1%
• Hispanic origin (detail): Mexican 11%
• Common ancestry: Portuguese 4% Italian 3% Lithuanian 2%
• Foreign-born: 7% · Canada
• Languages at home: 87% English-only · Spanish 10% Other Asian/Pacific 1% German/W. Germanic 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: ▼ -138.75%
• Current HPI: 207.7393
• Rent YoY: ▲ 4.35%
• 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

+30.6% since first listed

6 events — show timeline

• 2026-05-30 Relisted — NWMLS as Distributed by MLS Grid
• 2025-10-23 Listed $350,000 NWMLS as Distributed by MLS Grid
• 2021-04-01 Sold (MLS) $268,000 NWMLS as Distributed by MLS Grid
• 2021-03-19 Pending — NWMLS as Distributed by MLS Grid
• 2021-02-28 Pending — NWMLS as Distributed by MLS Grid
• 2021-02-17 Listed $268,000 NWMLS as Distributed by MLS Grid

Property tax history

+14.1%/yr

Latest (2026): $2,664 · +6.1% YoY. Source: county tax records.