319 7th Pl SE · Puyallup, WA 98372

$140,000

1 bd · 1.0 ba · 750 sqft · Condo · 59 Days on market

Built 1965 Good condition $488/mo HOA · 30% of rent

---

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 +7.8/30.0
• ARV discount +7.5/15.0
• 1% rule +6.7/10.0
• Schools +5.4/10.0
• Livability +4.1/5.0
• Condition / age +3.8/5.0
• Rent growth +3.6/5.0
• DSCR +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to easy, low-maintenance living in this beautifully cared-for 1-bedroom, 1-bath home, tucked inside a desirable 55+ community. The affordable $488 monthly fee covers property taxes, water, sewer, garbage, and landscaping - making everyday living simple and stress-free. Inside, you’ll find updated carpet and fresh paint throughout, along with a mini-split system to keep you comfortable year-round. The home also features a newer roof for added peace of mind. Enjoy the convenience of in-unit laundry, plus access to an additional on-site laundry room if needed. To top it off, the spa-inspired bathroom creates a relaxing, modern retreat. Step outside to a covered patio, perfect for

Key facts

• Built in storage
• Newer roof
• Covered patio

Tags

• MINI SPLIT SYSTEM
• NEWER ROOF
• IN UNIT LAUNDRY
• COVERED PATIO
• ASSIGNED COVERED CARPORT
• BUILT IN STORAGE

Property features AI

Finance

• Other: Bus line nearby
• Financial info: Listing terms: Cash (see remarks)
• HOA & community: Monthly association fee of $488; Association covers water, sewer, trash and common area maintenance; lawn service; Community features include age restriction, laundry room, outside entry, and high-speed internet availability; Co-op: Viking Co-Op Apartments; 52 units in community; 4 units in building; senior community designation

Exterior

• Parking: Carport with 1 covered space; 3 parking spaces assigned
• Utilities: Electric power (Puget Sound Energy); Electric water heater; Water and sewer included in community dues; Cable and internet connected (Xfinity/Comcast)
• Home design: Attached condominium (co-op); End unit on the ground floor; Single-story with main-level entry; Unit-level view
• Construction: Cement and stucco construction; Composition roof; Built in 1965; Unspecified foundation
• Exterior features: Cement/concrete and stucco exterior; Curbs, paved roads and sidewalks; Located on a dead-end street; Yard; Off covered carport storage

Interior

• Kitchen: Refrigerator; Stove/Range
• Bedrooms: 1 bedroom on the main level
• Flooring: Laminate; Vinyl; Carpet
• Bathrooms: 1 full bathroom with tub and separate shower on the main level
• Heating & cooling: Baseboard heating; Ductless heating; Has cooling
• Interior features: Electric cooking and electric dryer hookup; Water heater; Blinds on windows; Insulated windows
• Laundry & utility: Washer and dryer included; Electric dryer hookup; Utility room on the main level; Water heater in utility closet next to bathroom

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $140k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-224 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $108k (23.1% below list).
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $108k (23.1% below list) — sets the bar for cash-flow.
• Cap rate 4.9% vs local median 2.6% in Puyallup — 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 82/100 on livability (#70 in WA, #1,234 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, employment A+; Watch: crime F, cost of living F.
• Puyallup School District (suburban): math 53% / reading 66% proficiency, ranked #52 of 291 in WA (top 18%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Spinning Elementary (281 students, 54% FRL); Puyallup High School (1,701 students, 38% FRL) — zoned schools average 46% FRL vs 27% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+4.5%/yr); 169 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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 $968 of loan paydown is wiped out by about $4k 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 59 days — a 3% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; HOA is 30% of rent.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $107,611 (23.1% 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 59 days. Have you received any prior offers? Is the seller open to a 23% concession, seller financing, or rate buy-down credit?
3. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
6. 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?
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: 1.17% ✓
• Cap rate: 4.94%
• Cash-on-cash: -4.82%
• DSCR: 0.79
• GRM: 7.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.46% rent growth · sell at horizon

5-year hold

• IRR: -25.0%
• Equity multiple: 0.13×
• Total profit: $-34,128
• Equity at exit: $20,874

10-year hold

• IRR: -14.5%
• Equity multiple: 0.08×
• Total profit: $-36,237
• Equity at exit: $12,105

Cash invested: $39,200 (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 98372

• Rents YoY: 4.5%
• Active inventory: 169
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $1,643 high
• Mortgage (P&I): −$734
• Tax est. 1.5%: −$175 /mo · $2,100/yr
• Insurance: −$58
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$488
• Vacancy / Maint / Mgmt: −$345
• Net cashflow: $-224

Break-even live

Break-even rent $1,927

Max offer price $107,611

Occupancy floor —

Sensitivity live

Price	-10% $-127	-5% $-175	+0% $-224	+5% $-272	+10% $-321
Rent	-10% $-354	-5% $-289	+0% $-224	+5% $-159	+10% $-94
Rate	-1.0pp $-153	-0.5pp $-188	base $-224	+0.5pp $-260	+1.0pp $-297

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
344 7th St SE Puyallup, WA	2.0	1.0	800	$1,650	$2.06	45d	2	0.10mi
344 7th St SE Unit 20 Puyallup, WA	2.0	1.0	800	$1,650	$2.06	25d	1	0.10mi
344 7th St SE Puyallup, WA	2.0	1.0	800	$1,622	$2.03	4d	2	0.10mi
344 7th St SE Unit 8 Puyallup, WA	2.0	1.0	800	$1,595	$1.99	25d	1	0.10mi
719 2nd Ave NE Apt 2 Puyallup, WA	2.0	1.5	1000	$1,895	$1.90	6d	1	0.22mi
120 5th St NE Unit 1 Puyallup, WA	1.0	1.0	726	$1,595	$2.20	45d	1	0.22mi
721 2nd Ave NE Puyallup, WA	2.0	1.5	1000	$1,895	$1.90	25d	1	0.23mi
336 3rd St SE Puyallup, WA	2.0	1.0	630	$1,700	$2.70	25d	1	0.31mi
311 2nd St NE Unit 03 Puyallup, WA	1.0	1.0	620	$1,145	$1.85	25d	1	0.39mi
1218 7th Ave SE Unit 1208 Puyallup, WA	2.0	1.0	885	$2,145	$2.42	25d	1	0.45mi
931 9th St SE Puyallup, WA	1.0–2.0	1.0	784	$1,450	$1.85	3d	7	0.49mi
322 9th Ave SE Unit 05 Puyallup, WA	1.0	1.0	600	$1,395	$2.33	25d	1	0.49mi
322 9th Ave SE Unit 08 Puyallup, WA	2.0	1.0	975	$1,595	$1.64	6d	1	0.49mi
322 9th Ave SE Puyallup, WA	2.0	1.0	975	$1,610	$1.65	13d	3	0.50mi
322 9th Ave SE Apt 9 Puyallup, WA	2.0	1.0	975	$1,550	$1.59	6d	1	0.51mi
501 2nd St NE Puyallup, WA	1.0–2.0	1.0–2.0	850	$1,999	$2.35	6d	11	0.51mi
501 2nd Ave NE Puyallup, WA	1.0–2.0	1.0–2.0	1506	$1,999	$1.33	45d	17	0.51mi
516 16th St SE Puyallup, WA	2.0	1.0	950	$1,895	$1.99	25d	1	0.56mi
1022 10th Ave SE Puyallup, WA	2.0	1.5	1100	$1,950	$1.77	45d	1	0.59mi
1112 9th St SE Puyallup, WA	2.0	1.0	842	$1,715	$2.04	0d	4	0.61mi
403 W Meeker Puyallup, WA	1.0	1.0	465	$1,355	$2.91	0d	3	0.62mi
805 3rd St SW Puyallup, WA	2.0	1.0	957	$1,850	$1.93	45d	1	0.62mi
129 5th Ave NW Puyallup, WA	1.0	1.0	650	$1,949	$3.00	6d	1	0.63mi
1617 E Main Puyallup, WA	1.0–2.0	1.0–2.0	930	$1,752	$1.88	0d	29	0.67mi
112 5th St SW Puyallup, WA	2.0	1.0	585	$1,400	$2.39	25d	1	0.68mi
735 2nd St NW Unit 1 Puyallup, WA	2.0	1.0	837	$1,695	$2.03	23d	1	0.74mi
1027 N Meridian Puyallup, WA	1.0–2.0	1.0	782	$1,525	$1.95	6d	6	0.78mi
602 5th Ave NW Unit A Puyallup, WA	1.0	1.0	650	$1,495	$2.30	0d	1	0.84mi
813 W Main Puyallup, WA	1.0	1.0	700	$1,600	$2.29	45d	1	0.93mi
802 9th St SW Unit 802 1/2 Puyallup, WA	1.0	1.0	700	$1,650	$2.36	21d	1	1.02mi
922 5th Ave SW Unit C Puyallup, WA	2.0	1.0	600	$1,795	$2.99	23d	1	1.03mi
803 9th St NW Unit 803 Puyallup, WA	2.0	1.0	800	$1,775	$2.22	21d	1	1.12mi
5517 108th Avenue Ct E Unit 5517 Puyallup, WA	2.0	1.0	864	$1,725	$2.00	45d	1	1.17mi
508 11th St NW Unit H Puyallup, WA	2.0	1.0	1037	$1,800	$1.74	18d	1	1.20mi
508 11th St NW Puyallup, WA	2.0	1.0	1037	$2,000	$1.93	45d	1	1.20mi
209 21st Ave SW Puyallup, WA	1.0–3.0	1.0–2.0	866	$1,569	$1.81	0d	14	1.21mi
305 13th St SW Unit D Puyallup, WA	2.0	1.5	880	$1,820	$2.07	45d	1	1.24mi
2008 S Meridian Puyallup, WA	1.0–2.0	1.0–2.0	942	$1,932	$2.05	0d	4	1.28mi
407 Valley Ave NE Puyallup, WA	1.0–3.0	1.0–2.0	923	$1,625	$1.76	45d	1	1.30mi
2204 S Meridian Puyallup, WA	1.0–2.0	1.0–2.0	800	$1,194	$1.49	4d	1	1.40mi

HOA detail condo

• Monthly dues: $488 · $5,856/yr
• Likely covers: watersewertrashlandscaping
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 17 events

1. 2026-06-21
   days on market $140,000 Active 59 DOM
2. 2026-06-18
   days on market $140,000 Active 56 DOM
3. 2026-06-17
   days on market $140,000 Active 55 DOM
4. 2026-06-16
   days on market $140,000 Active 54 DOM
5. 2026-06-15
   days on market $140,000 Active 53 DOM
6. 2026-06-13
   days on market $140,000 Active 51 DOM
7. 2026-06-13
   days on market $140,000 Active 50 DOM
8. 2026-06-09
   days on market $140,000 Active 47 DOM
9. 2026-06-08
   days on market $140,000 Active 46 DOM
10. 2026-06-07
    days on market $140,000 Active 45 DOM
11. 2026-06-04
    days on market $140,000 Active 42 DOM
12. 2026-06-03
    days on market $140,000 Active 41 DOM
13. 2026-06-02
    days on market $140,000 Active 40 DOM
14. 2026-06-01
    days on market $140,000 Active 39 DOM
15. 2026-05-31
    days on market $140,000 Active 38 DOM
16. 2026-04-23
    listed $140,000 Active
17. 2026-04-23
    listed $140,000 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 9/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥87°F today · 16 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: $19,719
• − Mortgage interest: −$7,842
• − Property taxes: −$2,100
• − Insurance: −$1,498
• − Repairs & maintenance: −$1,577
• − Management: −$1,577
• − HOA: −$5,856
• − Depreciation: −$4,073
• Taxable loss: −$4,805
• Est. tax savings @ 24.0%: +$1,153
• After-tax cash flow: $-1,533/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 75/100 Cosmetic rehab

This 1-bedroom, 1-bath home in a 55+ community offers updated features and a low-maintenance lifestyle.

Value-add opportunities

• Resale update kitchen cabinetry — modernize dated kitchen
• Both install smart home features — enhance convenience and appeal
• Resale landscape front yard — improve curb appeal

Renovation cost estimate screening

Value-add ROI direction

• Resale update kitchen cabinetry — modernize dated kitchen ↑
• Both install smart home features — enhance convenience and appeal ↑
• Resale landscape front yard — improve curb appeal ↑

ⓘ 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: Puyallup School District
• NCES district ID: 5306960
• Math proficiency: 53% ▬ 0.00%
• Reading proficiency: 66% ▬ 0.00%
• Median HH income: $68,291
• Composite: 54.01/100
• National rank: #3006
• State rank: #52 of 291 in WA

Livability — Puyallup

• Score: 82/100
• State rank: #70
• US rank: #1234

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Puyallup, WA
• County: Pierce County · 788,257 people
• City population: 159,771
• Metro: Seattle-Tacoma-Bellevue, WA
• Population (ZIP): 26,012
• Household income: $98,152
• Rent vs Own: 47.5% rent · 52.5% own
• Severe rent burden: 871.0

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: Predominantly White (73%)
• Race & ethnicity: White 73% Two or more races 10% Hispanic / Latino 8% Asian 6% Black 3% Pacific Islander 1%
• Hispanic origin (detail): Mexican 5% Puerto Rican 1%
• Common ancestry: Lithuanian 4% Romanian 4% Subsaharan African 3%
• Foreign-born: 13% · Canada, South Korea, China
• Languages at home: 81% English-only · Russian/Polish/Slavic 5% Spanish 4% Other Asian/Pacific 3%

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: ▼ -283.81%
• Current HPI: 309.7871
• Rent YoY: ▲ 4.46%
• 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

+0.0% since first listed

2 events — show timeline

• 2026-04-23 Listed $140,000 NWMLS as Distributed by MLS Grid
• 2026-04-23 Listed $140,000 NWMLS as Distributed by MLS Grid