6062 Hwy 20 #62 · Port Hadlock-Irondale, WA 98368

$99,500

1 bd · 1.0 ba · 728 sqft · Manufactured · 155 Days on market

Built 1984 Good condition $137/sqft · 49% above area Est $67k · 49% over ↓ 5% since listing

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.9/10.0
• Condition / age +4.0/5.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

This is a one-of-a-kind opportunity! The interior and windows have been completely replaced/remodeled and what a lovely work that has been done with all the love they could pour in. Light and bright interior, two nice out buildings and partially fenced. The yard is an open pallet to do what you would like! Also has a small garage/workshop with heater!! 55+ area and 2 pets allowed to total 50# and must be indoor animals primarily. $650.47/month lease rent includes the septic maintenance. Space Rent/Mo field on listing does not allow for decimals, so entered as $651. To make this home even more of a value it has a fresh coat of paint and new gutters! This is a super value and so pretty and l

Key facts

• Small garage
• Partially fenced
• Workshop with heater

Tags

• INTERIOR REMODELED
• WINDOWS REPLACED
• OUT BUILDINGS
• PARTIALLY FENCED
• SMALL GARAGE
• WORKSHOP WITH HEATER

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath manufactured listed at $100k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $698 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Recommended offer: $88k (12.0% below list) — sets the bar for market timing.
• Cap rate 14.7% 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 C — 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).
• This rent runs 30% of the median local income ($70k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $688 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 $28k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 155 days — a 12% lower offer ($88k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $6k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $87,560 (12.0% below list)

Questions for the listing agent

1. It's been on market 155 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 1.76% ✓
• Cap rate: 14.71%
• Cash-on-cash: 30.05%
• DSCR: 2.34
• GRM: 4.7

CMA / ARV

• ARV (median comp): $66,982
• List price: $99,500
• Delta: 48.55%
• Verdict: OVERPRICED
• Comps: 5 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6062 Hwy 20 #62	0.00mi	1/1.0	728 (0%)	1mo	$99,500	$137	100
6062 Hwy 20 #55	0.05mi	2/1.0 (+1)	784 (+8%)	2mo	$35,000	$45	79
6062 Highway 20 #51	0.07mi	2/1.0 (+1)	784 (+8%)	14mo	$60,000	$77	68

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: 24.7%
• Equity multiple: 2.02×
• Total profit: $28,334
• Equity at exit: $14,836

10-year hold

• IRR: 32.5%
• Equity multiple: 3.94×
• Total profit: $81,992
• Equity at exit: $8,603

Cash invested: $27,860 (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: 4.7×

Monthly cashflow live

• Estimated rent: $1,753 medium
• Mortgage (P&I): −$522
• Tax est. 1.5%: −$124 /mo · $1,492/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$368
• Net cashflow: $698

Break-even live

Break-even rent $870

Max offer price $99,500

Occupancy floor 55%

Sensitivity live

Price	-10% $766	-5% $732	+0% $698	+5% $663	+10% $629
Rent	-10% $559	-5% $628	+0% $698	+5% $767	+10% $836
Rate	-1.0pp $748	-0.5pp $723	base $698	+0.5pp $672	+1.0pp $646

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: $24,875
• Closing costs: $2,985
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-05-15
   status Pending
2. 2026-03-25
   price $99,500
3. 2026-03-03
   status Active
4. 2026-03-01
   historical
5. 2025-12-06
   listed $105,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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: $21,041
• − Mortgage interest: −$5,574
• − Property taxes: −$1,492
• − Insurance: −$498
• − Repairs & maintenance: −$1,683
• − Management: −$1,683
• − Depreciation: −$2,895
• Taxable income: $7,217
• Est. tax owed @ 24.0%: −$1,732
• After-tax cash flow: $6,639/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

Good 80/100 Cosmetic rehab

This manufactured home is in good condition with recent updates, making it a solid investment opportunity.

Value-add opportunities

• Both paint exterior — enhances curb appeal and value
• Both replace gutters — improves drainage and aesthetics

Renovation cost estimate screening

Value-add ROI direction

• Both paint exterior — enhances curb appeal and value ↑
• Both replace gutters — improves drainage and aesthetics ↑

ⓘ 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: 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

-5.2% since first listed

5 events — show timeline

• 2026-05-15 Pending — NWMLS as Distributed by MLS Grid
• 2026-03-25 Price Changed $99,500 NWMLS as Distributed by MLS Grid
• 2026-03-03 Relisted — NWMLS as Distributed by MLS Grid
• 2026-03-01 Delisted — NWMLS as Distributed by MLS Grid
• 2025-12-06 Listed $105,000 NWMLS as Distributed by MLS Grid