7322 19th St W Unit 8A · Tacoma, WA 98466

$189,000

2 bd · 2.0 ba · 1,068 sqft · Condo · 140 Days on market

Built 1969 $400/mo HOA · 20% of rent

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Why this score? — see what drove the D 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 +9.9/30.0
• ARV discount +7.5/15.0
• Schools +6.4/10.0
• 1% rule +5.6/10.0
• Livability +3.9/5.0
• Rent growth +3.8/5.0
• DSCR +2.8/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this 55+ Condo on Tacoma's sought after West Slope! This 2 bed, 2 bath home features partial views of the Narrows Bridge and Olympic Mountains from the kitchen and cozy sunroom. New windows in the bedrooms , all brand new appliances, fresh new paint throughout . Enjoy resort-style living with an outdoor pool, spacious community room with billiards, lounge areas and full kitchen. All just downstairs from this unit ! Units are centrally located near fun dining & watering holes, shopping, a marina and a park. The walkability is fabulous but drivability and Convenience is perfect . Added perks include covered parking and generous storage. Brand new washer and dryer is an all

Key facts

• Outdoor pool
• Covered parking
• Generous storage

Tags

• OUTDOOR POOL
• COMMUNITY ROOM
• COVERED PARKING
• GENEROUS STORAGE

Property features AI

Finance

• Other: Building name: Narrowmoor Arms; 12 units in building, 18 units in community; Unit storage: #8A located in clubhouse and carport; Bus line nearby
• Financial info: Listing terms: Cash or Conventional
• HOA & community: Monthly HOA fee ($400) covering central hot water, common area maintenance, lawn service, sewer, trash, and water; HOA-managed water and sewer; Community amenities: age-restricted (senior) community features including clubhouse, pool, laundry room, cable TV, game/rec room, and garden space; Association contact: Tiana Kleinhoff

Exterior

• Parking: 5 assigned parking spaces; Covered parking (1 covered); Carport
• Security: Security gate
• Utilities: Electric energy source; Water provided through HOA; Sewer provided through HOA; Power provided by Tacoma PUD; Central water heater located at clubhouse
• Home design: Attached condominium; One-level unit located on the 2nd floor (top floor); Main entry
• Construction: Stone and stucco construction; Composition roof; Built (effective) in 1978
• Exterior features: Stone and stucco exterior; Paved areas with sidewalks; Unit has a view; Common outdoor pool; Clubhouse, game/rec room, and garden space in community

Interior

• Kitchen: Dishwasher; Refrigerator; Electric range/cooking; Kitchen with eating space
• Bedrooms: 2 bedrooms (both on main level, including primary bedroom)
• Flooring: Vinyl flooring; Carpet
• Bathrooms: 1 full bathroom (main level); 1 three-quarter bathroom (main level); 1 bathtub, 2 showers total
• Heating & cooling: Baseboard heating; No central air/cooling
• Interior features: Fireplace (wood burning); Electric cooking; Water heater; Washer and dryer included
• Laundry & utility: Washer hookup; Electric dryer hookup; Washer and dryer included; Laundry room (common laundry in community as well)

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $189k.

Deal economics

• At list price, monthly cash flow is $-119 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $172k (9.1% below list).
• Meets the 1% rule at list price ($2k rent vs $189k).
• Recommended offer: $166k (12.0% below list) — sets the bar for market timing.
• Cap rate 5.5% vs local median 2.9% in Tacoma — 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 78/100 on livability (#127 in WA, #2,535 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, housing A+; Watch: cost of living D, crime F.
• University Place School District (suburban): math 70% / reading 77% proficiency, ranked #14 of 291 in WA (top 5%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: University Place Primary (501 students, 42% FRL); Narrows View Intermediate (712 students, 46% FRL); Curtis Senior High (1,349 students, 38% FRL).
• Market conditions: Rents rising fast (+5.3%/yr); 122 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 3,209 units permitted in Pierce County in 2024 (1,269 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Pierce County population projected at +26% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 140 days — a 12% lower offer ($166k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 24y ago; this cycle's ask has dropped $46k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $166,320 (12.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 140 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Built in 1969 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
9. Crime grade is F 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?
10. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
11. 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.
12. 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.
13. 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: 1.06% ✓
• Cap rate: 5.54%
• Cash-on-cash: -2.70%
• DSCR: 0.88
• GRM: 7.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.34% rent growth · sell at horizon

5-year hold

• IRR: -17.2%
• Equity multiple: 0.37×
• Total profit: $-33,097
• Equity at exit: $28,181

10-year hold

• IRR: -4.2%
• Equity multiple: 0.69×
• Total profit: $-16,631
• Equity at exit: $16,341

Cash invested: $52,920 (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 98466

• Rents YoY: 5.3%
• Active inventory: 122
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $2,009 high
• Mortgage (P&I): −$991
• Tax est. 1.5%: −$236 /mo · $2,835/yr
• Insurance: −$79
• HOA: −$400
• Vacancy / Maint / Mgmt: −$422
• Net cashflow: $-119

Break-even live

Break-even rent $2,160

Max offer price $171,763

Occupancy floor —

Sensitivity live

Price	-10% $11	-5% $-54	+0% $-119	+5% $-184	+10% $-250
Rent	-10% $-278	-5% $-198	+0% $-119	+5% $-40	+10% $40
Rate	-1.0pp $-24	-0.5pp $-71	base $-119	+0.5pp $-168	+1.0pp $-218

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: $47,250
• Closing costs: $5,670
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7716 19th Street Ct W Tacoma, WA	3.0	1.0	1000	$2,100	$2.10	0d	1	0.21mi
2210 70th Ave W University Place, WA	1.0–3.0	1.0	937	$1,902	$2.03	26d	1	0.33mi
2326 70th Ave W Tacoma, WA	1.0–2.0	1.0	695	$1,600	$2.30	4d	4	0.35mi
2401 Cascade Pl W University Place, WA	2.0	1.0	825	$1,500	$1.82	5d	2	0.36mi
2602 Cascade Pl W Apt 7 University Place, WA	2.0	1.5	1214	$2,095	$1.73	45d	1	0.38mi
2602-2618 Cascade Pl W Unit 25 Tacoma, WA	2.0	2.0	1122	$2,095	$1.87	0d	1	0.40mi
2602-2618 Cascade Pl W Unit 14 Tacoma, WA	1.0	1.0	828	$1,645	$1.99	21d	1	0.40mi
2422 70th Ave W University Place, WA	1.0–2.0	1.0	800	$1,840	$2.30	26d	9	0.41mi
2211 68th Avenue Ct W University Place, WA	3.0	1.0–2.0	898	$2,716	$3.02	3d	20	0.42mi
2511 Locust Ave W Tacoma, WA	1.0	1.0	864	$2,200	$2.55	18d	1	0.50mi
2511 Locust Ave W Tacoma, WA	1.0	1.0	864	$2,200	$2.55	0d	1	0.50mi
7637 28th St W Unit B University Place, WA	2.0	1.0	1200	$2,300	$1.92	45d	1	0.55mi
1414 S Mildred St Tacoma, WA	1.0–2.0	1.0	773	$2,075	$2.68	1d	18	0.56mi
1044 S Oxford St Tacoma, WA	2.0	1.0	746	$1,950	$2.61	26d	1	0.61mi
3113 Bridgeport Way W University Place, WA	2.0	1.5	900	$1,995	$2.22	14d	1	0.74mi
3113 Bridgeport Way W University Place, WA	2.0	1.5	900	$2,095	$2.33	26d	2	0.74mi
2710 Crystal Springs Rd W University Place, WA	2.0	1.0	860	$1,650	$1.92	45d	1	0.76mi
7408 31st Street Ct W University Place, WA	3.0	1.5	1132	$2,100	$1.86	26d	1	0.77mi
3125 Bridgeport Way W University Place, WA	2.0	1.5	1055	$1,900	$1.80	45d	2	0.79mi
8313 29th St W University Place, WA	2.0	1.5	1196	$1,995	$1.67	45d	1	0.82mi
6409 S 12th St Tacoma, WA	1.0–2.0	1.0	682	$1,685	$2.47	5d	1	0.83mi
8601 26th St W University Place, WA	1.0–2.0	1.0–2.0	876	$2,121	$2.42	0d	7	0.85mi
7504 33rd St W University Place, WA	1.0–2.0	1.0–2.0	815	$1,895	$2.33	45d	1	0.86mi
1035 S Whitman St Tacoma, WA	2.0	2.0	1112	$1,685	$1.52	18d	1	0.88mi
3332 Bridgeport Way W University Place, WA	2.0	1.0	658	$1,800	$2.74	45d	2	0.92mi
3336 Bridgeport Way W University Place, WA	2.0	1.0	816	$1,800	$2.21	14d	1	0.93mi
625 N Jackson Ave Unit B42 Tacoma, WA	2.0	2.0	963	$2,300	$2.39	19d	1	0.98mi
6601 S 8th St Tacoma, WA	1.0–2.0	1.0	745	$1,895	$2.54	23d	1	0.98mi
2602 Westridge Ave W Tacoma, WA	1.0–3.0	1.0–2.0	872	$2,092	$2.40	0d	32	1.00mi
630 N Skyline Dr Unit B Tacoma, WA	3.0	1.0	822	$2,066	$2.51	7d	1	1.04mi
3610 Bridgeport Way W University Place, WA	3.0	1.0–2.0	980	$2,550	$2.60	0d	4	1.10mi
3633 Market Pl W University Place, WA	2.0	1.0–2.0	721	$2,450	$3.40	0d	7	1.16mi
6102 6th Ave Apt 35 Tacoma, WA	2.0	1.0	720	$1,576	$2.19	26d	1	1.18mi
5930 6th Ave Unit C-27 Tacoma, WA	1.0	1.0	725	$1,249	$1.72	26d	1	1.18mi
1101 N Mountain View Ave Tacoma, WA	2.0	2.5	1500	$3,045	$2.03	0d	3	1.24mi
3706 Larson Ln W Tacoma, WA	2.0	1.0–2.0	833	$2,900	$3.48	0d	7	1.26mi
3806 78th Avenue Ct W University Place, WA	1.0–3.0	1.0–2.0	914	$2,261	$2.47	0d	14	1.38mi
1128 N Vassault St Tacoma, WA	2.0	2.0	1194	$2,250	$1.88	23d	1	1.44mi
7722 40th St W University Place, WA	1.0	1.0	785	$1,490	$1.90	0d	2	1.47mi
1502 S Orchard St Tacoma, WA	2.0	1.0–2.0	882	$2,205	$2.50	1d	1	1.47mi

HOA detail condo

• Monthly dues: $400 · $4,800/yr
• Likely covers: waterpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 35 events

1. 2026-06-21
   days on market $189,000 Active 140 DOM
2. 2026-06-18
   days on market $189,000 Active 137 DOM
3. 2026-06-17
   days on market $189,000 Active 136 DOM
4. 2026-06-16
   days on market $189,000 Active 135 DOM
5. 2026-06-15
   days on market $189,000 Active 134 DOM
6. 2026-06-13
   days on market $189,000 Active 132 DOM
7. 2026-06-09
   days on market $189,000 Active 128 DOM
8. 2026-06-08
   days on market $189,000 Active 127 DOM
9. 2026-06-07
   days on market $189,000 Active 126 DOM
10. 2026-06-04
    days on market $189,000 Active 123 DOM
11. 2026-06-03
    days on market $189,000 Active 122 DOM
12. 2026-06-02
    days on market $189,000 Active 121 DOM
13. 2026-06-01
    days on market $189,000 Active 120 DOM
14. 2026-05-31
    days on market $189,000 Active 119 DOM
15. 2026-05-16
    status Active
16. 2026-05-16
    price $189,000
17. 2026-04-28
    status Pending
18. 2026-04-11
    price $222,000
19. 2026-01-31
    price $229,000
20. 2026-01-14
    listed $235,000 Active
21. 2025-05-20
    soldstatus $220,777 Closed
22. 2025-04-26
    status Pending
23. 2025-04-24
    price $225,777
24. 2024-11-06
    listed $235,777 Active
25. 2024-07-18
    soldstatus $230,000 Closed
26. 2024-07-02
    status Pending
27. 2024-06-27
    listed $233,777 Active
28. 2024-02-08
    soldstatus $200,000 Closed
29. 2024-01-14
    status Pending
30. 2023-12-30
    price $225,000
31. 2023-11-22
    listed $235,000 Active
32. 2004-06-02
    soldstatus $98,000
33. 2003-11-11
    listed $100,000
34. 2002-09-20
    soldstatus $82,000
35. 2002-07-22
    listed $85,000

ⓘ 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 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥86°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 7/10 Severe 11 unhealthy d/yr today · 12 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,107
• − Mortgage interest: −$10,587
• − Property taxes: −$2,835
• − Insurance: −$945
• − Repairs & maintenance: −$1,929
• − Management: −$1,929
• − HOA: −$4,800
• − Depreciation: −$5,498
• Taxable loss: −$4,416
• Est. tax savings @ 24.0%: +$1,060
• After-tax cash flow: $-370/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: University Place School District
• NCES district ID: 5309180
• Math proficiency: 70% ▼ -1.00%
• Reading proficiency: 77% ▬ 0.00%
• Median HH income: $58,906
• Composite: 64.16/100
• National rank: #1180
• State rank: #14 of 291 in WA

Livability — Tacoma

• Score: 78/100
• State rank: #127
• US rank: #2535

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Tacoma, WA
• County: Pierce County · 788,257 people
• City population: 212,935
• Metro: Seattle-Tacoma-Bellevue, WA
• Population (ZIP): 30,327
• Household income: $101,778
• Rent vs Own: 46.8% rent · 53.2% own
• Severe rent burden: 1205.0

Population outlook (Pierce County) Hauer SSP2

• Today (2025): 956,648 people
• By 2030: 1,010,862 · +5.7%
• By 2040: 1,113,170 · +16.4%
• By 2050: 1,206,524 · +26.1%
• By 2075: 1,436,425 · +50.2%
• By 2100: 1,563,654 · +63.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: White 64% Two or more races 13% Hispanic / Latino 11% Asian 7% Black 6% Native American 1%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Portuguese 5% Lithuanian 3% Slovak 3%
• Foreign-born: 11% · Canada, South Korea, Jamaica
• Languages at home: 85% English-only · Spanish 5% Korean 3% Tagalog/Filipino 2%

Political lean MEDSL · Pierce

• 2024 margin: D (+10.8) · D 53.9% · R 43.1% · Other 3.0%
• 2008→2024 swing: -1.4pp toward R · 2008: 12.2pp · 2024: 10.8pp
• All cycles: 2024: D+10.8 2020: D+11.2 2016: D+7.5 2012: D+11.0 2008: D+12.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -701.99%
• Current HPI: 300.459
• Rent YoY: ▲ 5.34%
• Metro: Seattle-Tacoma-Bellevue, 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

+122.4% since first listed

21 events — show timeline

• 2026-05-16 Relisted — NWMLS as Distributed by MLS Grid
• 2026-05-16 Price Changed $189,000 NWMLS as Distributed by MLS Grid
• 2026-04-28 Pending — NWMLS as Distributed by MLS Grid
• 2026-04-11 Price Changed $222,000 NWMLS as Distributed by MLS Grid
• 2026-01-31 Price Changed $229,000 NWMLS as Distributed by MLS Grid
• 2026-01-14 Listed $235,000 NWMLS as Distributed by MLS Grid
• 2025-05-20 Sold (MLS) $220,777 NWMLS as Distributed by MLS Grid
• 2025-04-26 Pending — NWMLS as Distributed by MLS Grid
• 2025-04-24 Price Changed $225,777 NWMLS as Distributed by MLS Grid
• 2024-11-06 Listed $235,777 NWMLS as Distributed by MLS Grid
• 2024-07-18 Sold (MLS) $230,000 NWMLS as Distributed by MLS Grid
• 2024-07-02 Pending — NWMLS as Distributed by MLS Grid
• 2024-06-27 Listed $233,777 NWMLS as Distributed by MLS Grid
• 2024-02-08 Sold (MLS) $200,000 NWMLS as Distributed by MLS Grid
• 2024-01-14 Pending — NWMLS as Distributed by MLS Grid
• 2023-12-30 Price Changed $225,000 NWMLS as Distributed by MLS Grid
• 2023-11-22 Listed $235,000 NWMLS as Distributed by MLS Grid
• 2004-06-02 Sold (MLS) $98,000 NWMLS as Distributed by MLS Grid
• 2003-11-11 Listed $100,000 NWMLS as Distributed by MLS Grid
• 2002-09-20 Sold (MLS) $82,000 NWMLS as Distributed by MLS Grid
• 2002-07-22 Listed $85,000 NWMLS as Distributed by MLS Grid