1317 Summit St · Aberdeen, WA 98520

$150,000

2 bd · 0.5 ba · 1,902 sqft · SingleFamily public records · 41 Days on market

Built 1905 0.32 ac lot $79/sqft · 47% below area Est $283k · 47% 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 +27.1/30.0
• ARV discount +15.0/15.0
• DSCR +9.4/10.0
• 1% rule +6.0/10.0
• Livability +4.0/5.0
• Rent growth +3.6/5.0
• Schools +3.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Versatile property in East Aberdeen on a 14,000 +/- sq ft site zoned Neighborhood Center Mixed Use (NC - MU), allowing residential, multifamily, personal services, retail, and general service uses with a conditional use permit. The main building, formerly used for retail, offers 1,182 +/- sq ft on the main level, including living room, dining room, kitchen, bedroom, 3/4 bath, and utility room. The upper level is unfinished, providing additional potential. A detached 576 +/- sq ft shop offers extra workspace or storage. Served by public water and sewer. Improvements are in need of repair, presenting an excellent opportunity for renovation or redevelopment. Cash out offers only.

Key facts

• Main building
• Extra workspace
• Detached shop

Tags

• MAIN BUILDING
• DETACHED SHOP
• EXTRA WORKSPACE

What this means for you Summary

Snapshot

• This is a 2-bed/0.5-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $426 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $146k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.7% 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).
• This rent runs 34% of the median local income ($58k/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 $1k of loan paydown is wiped out by about $4k 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.
• At projected returns (-3.0% appreciation + 4.3% rent growth), your $42k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 41 days — a 3% lower offer ($146k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $45k; list at $150k implies a 233% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1905 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $145,500 (3.0% below list)

Questions for the listing agent

1. It's been on market 41 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1905 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.10% ✓
• Cap rate: 9.70%
• Cash-on-cash: 12.17%
• DSCR: 1.54
• GRM: 7.6

CMA / ARV

• ARV (median comp): $282,790
• List price: $150,000
• Delta: -46.96%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
818 E 1st St	0.52mi	2/1.0	1,836 (-4%)	13mo	$190,000	$103	57
210 Chicago Ave	0.46mi	2/1.0	1,932 (+2%)	21mo	$325,000	$168	56

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: 3.1%
• Equity multiple: 1.12×
• Total profit: $5,031
• Equity at exit: $22,365

10-year hold

• IRR: 13.7%
• Equity multiple: 2.16×
• Total profit: $48,629
• Equity at exit: $12,969

Cash invested: $42,000 (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: 7.6×

Monthly cashflow live

• Estimated rent: $1,653 medium
• Mortgage (P&I): −$787
• Tax from tax record: −$31 /mo · $371/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$347
• Net cashflow: $426

Break-even live

Break-even rent $1,114

Max offer price $150,000

Occupancy floor 69%

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: $37,500
• Closing costs: $4,500
• 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	0.50mi
801 Olympic Sq Aberdeen, MD	2.0–3.0	2.0	1344	$1,889	$1.40	43d	3	0.79mi

Listing history 18 events

1. 2026-06-19
   days on market $150,000 Active 41 DOM
2. 2026-06-18
   days on market $150,000 Active 40 DOM
3. 2026-06-17
   days on market $150,000 Active 39 DOM
4. 2026-06-16
   days on market $150,000 Active 38 DOM
5. 2026-06-15
   days on market $150,000 Active 37 DOM
6. 2026-06-14
   days on market $150,000 Active 35 DOM
7. 2026-06-12
   days on market $150,000 Active 34 DOM
8. 2026-06-09
   days on market $150,000 Active 31 DOM
9. 2026-06-08
   days on market $150,000 Active 30 DOM
10. 2026-06-07
    days on market $150,000 Active 29 DOM
11. 2026-06-03
    days on market $150,000 Active 25 DOM
12. 2026-06-02
    days on market $150,000 Active 24 DOM
13. 2026-06-01
    days on market $150,000 Active 23 DOM
14. 2026-05-31
    days on market $150,000 Active 22 DOM
15. 2026-05-30
    days on market $150,000 Active 21 DOM
16. 2025-11-13
    listed $150,000 Active
17. 2013-08-30
    soldstatus $45,000
18. 2000-07-28
    soldstatus $22,000

ⓘ 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: $371 · $31/mo
• Projected year-2 tax: $1,470 · $122/mo
• Expected delta: +$1,099/yr (+$92/mo · 296.3%)

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

Taxation est. · year 1

• Rental income: $19,839
• − Mortgage interest: −$8,402
• − Property taxes: −$371
• − Insurance: −$750
• − Repairs & maintenance: −$1,587
• − Management: −$1,587
• − Depreciation: −$4,364
• Taxable income: $2,778
• Est. tax owed @ 24.0%: −$667
• After-tax cash flow: $4,446/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: 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

+581.8% since first listed

3 events — show timeline

• 2025-11-13 Listed $150,000 NWMLS as Distributed by MLS Grid
• 2013-08-30 Sold (Public Records) $45,000 Public Records
• 2000-07-28 Sold (Public Records) $22,000 Public Records

Property tax history

-0.3%/yr

Latest (2013): $371 · +2.5% YoY. Source: county tax records.