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PM to My Aberdeen Guysm
pawz
Member, Moderator, Swaye's Wigwam Posts: 22,515 
https://www.redfin.com/WA/Aberdeen/818-E-1st-St-98520/home/14785856
What am I missing?
Tri-plex generates $1525/mo in rents. Allegedly it is being rented for under-market rents.
The payment on $200k is only $780/mo.
Seems like a good location? Corner lot close to Market street and the river.
I'm sure there is deferred maintenance coming due. But fuck, what's new for a home built pre-1900?
What gives?
@creepycoug
What am I missing?
Tri-plex generates $1525/mo in rents. Allegedly it is being rented for under-market rents.
The payment on $200k is only $780/mo.
Seems like a good location? Corner lot close to Market street and the river.
I'm sure there is deferred maintenance coming due. But fuck, what's new for a home built pre-1900?
What gives?
@creepycoug
Comments
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"The Deen"
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Someone might have been murdered there
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As far as Washington State law is concerned, that is not a "material fact".DerekJohnson said:Someone might have been murdered there
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Finally an area of expertise for Creepy. @RaceBannon and @dflea will stand down on this one, even though they probably know.
First, that's right on "B" Street (clever name) my broseff. And right on the edge of the worst part of town (yes, there is a "worst"). Just east of there is a neighborhood on the way to North Aberdeen that is truly awful. Tahola awful (sorry @Swaye ). There are people there who smell like mushrooms and who want to hurt you.
A las, who you gonna rent to? That, right there, is my problem with Aberdeen rentals. Anybody who can't afford to buy a fucking house in Aberdeen has some serious limitations bromando. Serious. I wouldn't pay a dime over $100,000 for that house, and that would be a hard pill. The property itself is worthless. It's only about what you could pull in rent from someone on gov't assistance. No thanks.
Interestingly, there has been a known quantity of Seattle "investors" over the last several years who have bought Aberdeen properties for rental investment. I wonder what their experience has been.
One more funny story. If you do the streetview of that property, turn the camera 180 degrees you'll be heading "out the Wishkah". Precisely three blocks from that very location was where, 30+ years ago, I could be found carrying a passed out girl over my shoulders trying desperately to get off B street into the darker adjacent block before a cop came by. Someone's older brother came by with a flatbed pick up and took her and her girlfriends ... home I guess. A party gone awry. A distinct memory. Long story. Creep got into a bit of a bind over that one. We? still talk about it.
Sadly that whole area used to be solidly middle-working-class. Stewart Field is just down that road about 1/2 a mile.
Oh, one more thing @pawz ... being close to the river, any river, in Aberdeen is not a good thing ... at all. We didn't call them river rats for nothing. -
Being close to the river might not just be about the rats. Is a prior flood claim a material fact?
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Post more.Number1AtNumber2 said:Being close to the river might not just be about the rats. Is a prior flood claim a material fact?
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I am also curious if as a seller you need to disclose that messy weirdo with the leopard print curtains who hasn't paid rent since Feb 1 2020? There was a good article about this in the Sunday paper that deserves it's own thread to raise the age old question of if you would want to own and manage rentals.
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If those walls could talk...Number1AtNumber2 said:I am also curious if as a seller you need to disclose that messy weirdo with the leopard print curtains who hasn't paid rent since Feb 1 2020? There was a good article about this in the Sunday paper that deserves it's own thread to raise the age old question of if you would want to own and manage rentals.
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Take brass balls much of the time to be in the landlord bidness. I haven't the stomach nor the patience.Number1AtNumber2 said:I am also curious if as a seller you need to disclose that messy weirdo with the leopard print curtains who hasn't paid rent since Feb 1 2020? There was a good article about this in the Sunday paper that deserves it's own thread to raise the age old question of if you would want to own and manage rentals.
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If you want to become a rental property owner DO NOT DO IT IN WASHINGTON STATE.
