Starboard side under dinette seat of a Mac 24, goes thru hull, a plug for whatever. It could be a drain I guess but it sits 2" above the hull
If the rubber and plastic all seem to be in good shape you'll be fine if you just check on it once a month or each time you put her in the water. If either of them look less than perfect you should replace it. Some people rely on their knot-meter as an indication of their performance and others are only interested in SOG (speed over ground) so a GPS is all they need. If later you decide that you don't need a knot-meter you can always remove it and patch the hole.Should I have any concerns about it!