2827 34th Avenue Ct E #58 · Waller, WA 98443

$99,999

2 bd · 2.0 ba · 1,336 sqft · Manufactured public records · 45 Days on market

Built 1975 $75/sqft · 12% above area Est $89k · 12% over

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +5.4/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +2.1/15.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to sought-after Tacoma Country Estates 55+ community, conveniently located just off River Road with easy access to shopping, dining, medical facilities, and the Emerald Queen Casino. This well-maintained doublewide home offers 2 bedrooms and 1.75 baths with a spacious open-concept layout perfect for comfortable everyday living. All appliances included. Additional features include double-pane windows, forced air electric heat with a newer heat pump, newer roof, covered deck, storage space, carport, and a low-maintenance yard designed for easy living.

Key facts

• Covered deck
• Newer roof
• Newer heat pump

Tags

• OPEN-CONCEPT LAYOUT
• DOUBLE-PANE WINDOWS
• FORCED AIR ELECTRIC HEAT
• NEWER HEAT PUMP
• NEWER ROOF
• COVERED DECK

Property features AI

Finance

• Other: Buyer to verify school assignments; Bus line nearby; Directions: Just off River Road at Tacoma Country Estates — pull in, take first right, go around corner to first home on left
• Financial info: Listed for cash; Land lease fee applies
• HOA & community: Located in Tacoma Country Estates (senior community); Park approved for sale; High-speed internet available

Exterior

• Parking: RV parking available in park
• Utilities: Electric energy; Community water; Septic sewer; Electric water heater; Power provided by TPU
• Home design: Manufactured double-wide home; One level; Faces east; Has view
• Construction: Metal/vinyl construction; Composition roof; Concrete ribbon foundation with tie downs; Manufactured house structure
• Exterior features: Metal/vinyl exterior; Patio/porch/deck; Awnings; Double pane windows; Paved lot

Interior

• Kitchen: Dishwasher; Refrigerator; Stove/Range
• Bedrooms: 2 bedrooms
• Flooring: Vinyl; Carpet
• Bathrooms: 1 full bath; 1 three-quarter bath
• Heating & cooling: Forced air heating; Heat pump for heating and cooling
• Interior features: Water heater; Vaulted ceilings; Bath off primary; Dining room; Entry; Family room; Kitchen with eating space; Living room; Utility room
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $100k.

Deal economics

• At list price, monthly cash flow is $859 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Recommended offer: $97k (3.0% below list) — sets the bar for market timing.
• Cap rate 21.7% vs local median 2.2% in Waller — 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 69/100 on livability (#254 in WA) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime B; Watch: health & safety C-, commute D+, schools D-.
• 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.
• Market conditions: 28 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $691 of loan paydown is wiped out by about $3k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 45 days — a 3% lower offer ($97k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y ago 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.
• Current owner paid $80k; 25% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $96,999 (3.0% below list)

Questions for the listing agent

1. It's been on market 45 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 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 2.43% ✓
• Cap rate: 21.72%
• Cash-on-cash: 55.09%
• DSCR: 3.45
• GRM: 3.4

CMA / ARV

• ARV (median comp): $89,213
• List price: $99,999
• Delta: 12.09%
• Verdict: OVERPRICED
• Comps: 2 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3007 35th Ave Ct E	0.13mi	2/2.0	1,248 (-7%)	14mo	$59,999	$48	71
3213 28th Street Ct E #35	0.12mi	2/2.0	1,146 (-14%)	3mo	$89,950	$78	68
2912 36th Ave E #4	0.11mi	2/2.0	1,440 (+8%)	23mo	$140,000	$97	63
3021 28th ST Ct E #7	0.23mi	3/2.0 (+1)	1,404 (+5%)	20mo	$133,500	$95	59
3102 35th Avenue Ct E	0.17mi	3/2.0 (+1)	1,502 (+12%)	19mo	$50,000	$33	51
3821 Waller Rd E	0.63mi	2/2.0	1,470 (+10%)	20mo	$350,000	$238	37

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 32.8%
• Equity multiple: 2.38×
• Total profit: $38,765
• Equity at exit: $14,910

10-year hold

• IRR: 39.9%
• Equity multiple: 4.76×
• Total profit: $105,269
• Equity at exit: $8,646

Cash invested: $28,000 (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 98443

• Active inventory: 28
• Price-to-rent: 3.4×

Monthly cashflow live

• Estimated rent: $2,430 high
• Mortgage (P&I): −$524
• Tax from tax record: −$68 /mo · $821/yr
• Insurance: −$42
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$510
• Net cashflow: $859

Break-even live

Break-even rent $1,343

Max offer price $99,999

Occupancy floor 60%

Sensitivity live

Price	-10% $916	-5% $887	+0% $859	+5% $831	+10% $802
Rent	-10% $667	-5% $763	+0% $859	+5% $955	+10% $1,051
Rate	-1.0pp $909	-0.5pp $884	base $859	+0.5pp $833	+1.0pp $807

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2036 E Morton St Tacoma, WA	3.0	1.0	889	$3,300	$3.71	0d	1	0.82mi
4600 16th St E Fife, WA	1.0–3.0	1.0–2.0	925	$1,800	$1.95	25d	1	1.00mi
1207 46th Ave E Unit 1207 Fife, WA	3.0	1.5	1200	$1,995	$1.66	25d	1	1.27mi
4919 Waller Rd E Unit 4919 Tacoma, WA	2.0	1.0	1200	$2,300	$1.92	25d	1	1.33mi
1405 E 38th St Tacoma, WA	3.0	2.5	1265	$2,650	$2.09	0d	1	1.40mi
3562 E L St Tacoma, WA	3.0	2.0	1200	$2,397	$2.00	25d	1	1.49mi

Listing history 19 events

1. 2026-06-21
   days on market $99,999 Active 45 DOM
2. 2026-06-18
   days on market $99,999 Active 42 DOM
3. 2026-06-17
   days on market $99,999 Active 41 DOM
4. 2026-06-16
   days on market $99,999 Active 40 DOM
5. 2026-06-15
   days on market $99,999 Active 39 DOM
6. 2026-06-13
   days on market $99,999 Active 37 DOM
7. 2026-06-13
   days on market $99,999 Active 36 DOM
8. 2026-06-09
   days on market $99,999 Active 33 DOM
9. 2026-06-08
   days on market $99,999 Active 32 DOM
10. 2026-06-07
    days on market $99,999 Active 31 DOM
11. 2026-06-04
    days on market $99,999 Active 28 DOM
12. 2026-06-03
    days on market $99,999 Active 27 DOM
13. 2026-06-02
    days on market $99,999 Active 26 DOM
14. 2026-06-01
    days on market $99,999 Active 25 DOM
15. 2026-05-31
    days on market $99,999 Active 24 DOM
16. 2026-05-07
    listed $99,999 Active
17. 2022-05-18
    soldstatus $79,900 Closed
18. 2022-04-30
    status Pending
19. 2022-04-09
    listed $79,900 Active

ⓘ 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: $821 · $68/mo
• Projected year-2 tax: $980 · $82/mo
• Expected delta: +$159/yr (+$13/mo · 19.3%)

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

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone AE · 78% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥88°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 7/10 Severe 10 unhealthy d/yr today · 12 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,164
• − Mortgage interest: −$5,601
• − Property taxes: −$821
• − Insurance: −$5,618
• − Repairs & maintenance: −$2,333
• − Management: −$2,333
• − Depreciation: −$2,909
• Taxable income: $9,547
• Est. tax owed @ 24.0%: −$2,291
• After-tax cash flow: $8,016/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: 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 — Waller

• Score: 69/100
• State rank: #254
• US rank: #8174

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Waller, WA
• City population: 5,787
• Population (ZIP): 5,787

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 (71%)
• Race & ethnicity: White 71% Two or more races 11% Hispanic / Latino 10% Asian 6% Black 2%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Portuguese 5% Italian 4% Romanian 3%
• Foreign-born: 7% · Canada, Vietnam, South Korea
• Languages at home: 89% English-only · Spanish 5% Other Asian/Pacific 2% German/W. Germanic 1%

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: ▼ -375.05%
• Current HPI: 299.5307
• Rent YoY: —
• Metro: —
• 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

+25.2% since first listed

4 events — show timeline

• 2026-05-07 Listed $99,999 NWMLS as Distributed by MLS Grid
• 2022-05-18 Sold (MLS) $79,900 NWMLS as Distributed by MLS Grid
• 2022-04-30 Pending — NWMLS as Distributed by MLS Grid
• 2022-04-09 Listed $79,900 NWMLS as Distributed by MLS Grid

Property tax history

+11.0%/yr

Latest (2026): $821 · +3.2% YoY. Source: county tax records.