9711 12th Avenue Ct E #1 · Midland, WA 98445

$128,000

2 bd · 2.0 ba · 1,080 sqft · Manufactured public records · 3 Days on market

Built 1986 Est $136k · 6% under

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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
• ARV discount +10.2/15.0
• DSCR +10.0/10.0
• 1% rule +9.7/10.0
• Schools +3.9/10.0
• Livability +3.6/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 9711 12th Ave Ct. E. #1 Tacoma WA 98445 at Midland Meadows. This quaint 55+ community offers convenience, style and comfort. Space rent is $650 and includes water and sewer. Stunning upgrades throughout this 2 bedroom, 2 bathroom home includes, but not limited to, New Roof, New appliances (dishwasher and stove), New Kitchen Cabinets, Countertops and much more. Freshly painted inside and out makes this a truly "MUST SEE" opportunity. Financing is available.

Key facts

• Freshly painted
• New appliances
• New kitchen cabinets

Tags

• NEW ROOF
• NEW APPLIANCES
• NEW KITCHEN CABINETS
• COUNTERTOPS
• FRESHLY PAINTED

Property features AI

Finance

• Other: Property type: Residential manufactured home; Style: Double wide manufactured; Calculated living area: 1,080; Energy source: Electric; Storage: 1 storage unit located in driveway
• Financial info: Land lease: $650/month; Accepts Cash and Conventional financing
• HOA & community: Located in Midland Meadows mobile home park; Park is approved for sale; Senior community

Exterior

• Parking: Carport; Driveway storage available
• Utilities: Electric power; Public water (paid by park); Public sewer (paid by park); Power provided by TPU
• Home design: Manufactured double-wide home (Stratford); Updated/remodeled condition; One level; Mobile home remains in place
• Construction: Metal/vinyl and wood construction; Composition roof
• Exterior features: Metal/vinyl and wood exterior; Patio/porch/deck

Interior

• Kitchen: Dishwasher; Stove/Range
• Bedrooms: 2 bedrooms
• Flooring: Vinyl plank flooring
• Bathrooms: 1 full bath; 1 three-quarter bath; 1 bathtub; 2 showers
• Heating & cooling: Forced air heating; No central cooling
• Interior features: Dining room; Kitchen with eating space; Vaulted ceilings; Double pane windows

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $128k.

Deal economics

• At list price, monthly cash flow is $637 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $128k).
• Cap rate 12.3% vs local median 3.2% in Midland — 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 72/100 on livability (#208 in WA) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+; Watch: crime D, amenities F.
• Franklin Pierce School District (suburban): math 35% / reading 51% proficiency, ranked #197 of 291 in WA (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Central Avenue Elementary (379 students, 58% FRL); Morris Ford Middle School (882 students, 64% FRL); Franklin Pierce High School (1,141 students, 59% FRL) — zoned schools at 60% FRL track the district average.
• Market conditions: Rents rising (+2.0%/yr); 237 active listings in the ZIP; 28 comparable units currently listed for rent nearby; rentals at typical pace (median 14d 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 $885 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.
• At projected returns (-3.0% appreciation + 2.0% rent growth), your $36k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 14y 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 $11k; list at $128k implies a 1038% gain — meaningful room to come down on a strong offer.

Recommended offer $128,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
3. Crime grade is D 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?
4. 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.
5. 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.
6. 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: 1.47% ✓
• Cap rate: 12.27%
• Cash-on-cash: 21.34%
• DSCR: 1.95
• GRM: 5.7

CMA / ARV

• ARV (on-the-fly): $136,080
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
9711 12th Avenue Ct E #1	0.00mi	2/2.0	1,080 (0%)	1mo	$128,000	$119	100
9713 12th Avenue Ct E #2	0.01mi	3/2.0 (+1)	1,071 (-1%)	14mo	$95,000	$89	81
9803 12th Avenue Ct E	0.04mi	3/2.0 (+1)	1,148 (+6%)	16mo	$145,000	$126	70
2004 95th St E	0.50mi	2/2.0	1,188 (+10%)	2mo	$365,000	$307	58
9526 20th Avenue Ct E	0.48mi	3/2.0 (+1)	1,026 (-5%)	22mo	$345,000	$336	46

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 · 2.05% rent growth · sell at horizon

5-year hold

• IRR: 12.8%
• Equity multiple: 1.50×
• Total profit: $18,080
• Equity at exit: $19,085

10-year hold

• IRR: 21.0%
• Equity multiple: 2.70×
• Total profit: $60,871
• Equity at exit: $11,067

Cash invested: $35,840 (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 98445

• Rents YoY: 2.0%
• Active inventory: 237
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $1,883 high
• Mortgage (P&I): −$671
• Tax from tax record: −$126 /mo · $1,509/yr
• Insurance: −$53
• HOA: −$0
• Vacancy / Maint / Mgmt: −$395
• Net cashflow: $637

Break-even live

Break-even rent $1,076

Max offer price $128,000

Occupancy floor 61%

Sensitivity live

Price	-10% $710	-5% $674	+0% $637	+5% $601	+10% $565
Rent	-10% $489	-5% $563	+0% $637	+5% $712	+10% $786
Rate	-1.0pp $702	-0.5pp $670	base $637	+0.5pp $604	+1.0pp $571

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: $32,000
• Closing costs: $3,840
• Reserves months: —
• Total cash needed: —

Rent comps 28 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1111 99th Street Ct E Tacoma, WA	1.0–2.0	1.0	775	$1,450	$1.87	45d	4	0.19mi
1106 106th St E Tacoma, WA	2.0	1.0	1100	$2,175	$1.98	45d	1	0.65mi
319 104th St E Tacoma, WA	3.0	1.0	990	$2,285	$2.31	6d	1	0.84mi
137 99th Street Ct E Tacoma, WA	3.0	2.0	1200	$2,397	$2.00	45d	1	0.85mi
1017 110th Street Ct E Tacoma, WA	2.0	2.0	902	$1,762	$1.95	6d	3	0.89mi
8412 E McKinley Ave Unit 7 Tacoma, WA	1.0	1.0	784	$1,150	$1.47	26d	1	0.90mi
8402 E McKinley Ave Unit Iola Apartments-6 Tacoma, WA	1.0	1.0	700	$1,150	$1.64	26d	1	0.91mi
1015 112th St E Tacoma, WA	3.0	1.0–2.0	833	$1,938	$2.33	4d	15	0.95mi
11012 Portland Ave E Tacoma, WA	1.0–2.0	1.0–2.0	1260	$2,408	$1.91	0d	12	0.96mi
806 112th St E Parkland, WA	1.0–2.0	1.0–2.0	800	$1,500	$1.88	45d	1	1.04mi
416 111th St Ct E Tacoma, WA	1.0–3.0	1.0–2.0	925	$2,038	$2.20	0d	50	1.09mi
1817 80th St E Tacoma, WA	3.0	2.0	1188	$3,200	$2.69	21d	1	1.17mi
11302 10th Avenue Ct E Tacoma, WA	3.0	1.0–2.0	869	$2,037	$2.34	6d	16	1.18mi
8445 Pacific Ave Tacoma, WA	1.0–2.0	1.0–2.0	820	$1,975	$2.41	1d	2	1.22mi
10910 22nd Avenue Ct E Unit Jkt Tacoma, WA	3.0	2.0	1452	$2,200	$1.52	26d	1	1.24mi
8624 Pacific Ave S Apt 6 Tacoma, WA	2.0	1.5	900	$1,475	$1.64	4d	1	1.24mi
150 S 84th St Unit B Tacoma, WA	2.0	1.0	1000	$1,700	$1.70	4d	1	1.28mi
1018 76 Street Ct E Apt C Tacoma, WA	2.0	1.0	866	$1,550	$1.79	45d	1	1.28mi
908 76th Street Ct E Tacoma, WA	2.0–3.0	2.0	1065	$1,699	$1.60	1d	4	1.30mi
605 98th St S Tacoma, WA	3.0	1.5	1320	$2,800	$2.12	45d	1	1.31mi
8402 S C St Tacoma, WA	2.0	2.5	1058	$1,886	$1.78	1d	1	1.34mi
2621 80th St E Tacoma, WA	2.0	1.0	978	$2,100	$2.15	6d	1	1.39mi
7412 Golden Given Rd E Tacoma, WA	2.0	1.0–1.5	730	$1,588	$2.17	6d	1	1.42mi
8015 Pacific Ave Unit 20 Tacoma, WA	2.0	1.5	1100	$1,995	$1.81	26d	1	1.44mi
913 75th St E Tacoma, WA	2.0	1.0	832	$1,525	$1.83	14d	1	1.45mi
908 74th St E Unit VASU**908-B Tacoma, WA	2.0	1.0	828	$1,450	$1.75	45d	1	1.47mi
10925 Park Ave S Tacoma, WA	2.0	1.0	709	$1,775	$2.50	26d	5	1.47mi
10925 Park Ave S Tacoma, WA	3.0	1.0–2.0	838	$1,880	$2.24	0d	7	1.47mi

Listing history 12 events

1. 2026-05-15
   status Pending
2. 2026-05-11
   listed $128,000 Active
3. 2013-05-15
   historical
4. 2013-05-11
   soldstatus $11,250 Sold
5. 2013-05-07
   status Pending
6. 2013-04-10
   listed $11,250 Active
7. 2013-04-08
   historical
8. 2013-04-07
   soldstatus $9,113 Sold
9. 2013-03-12
   price $9,950
10. 2013-03-04
    price $14,000
11. 2012-11-08
    price $17,000
12. 2012-11-07
    listed $22,500 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: $1,509 · $126/mo
• Projected year-2 tax: $1,509 · $126/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

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 ≥87°F today · 13 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: $22,599
• − Mortgage interest: −$7,170
• − Property taxes: −$1,509
• − Insurance: −$640
• − Repairs & maintenance: −$1,808
• − Management: −$1,808
• − Depreciation: −$3,724
• Taxable income: $5,940
• Est. tax owed @ 24.0%: −$1,426
• After-tax cash flow: $6,223/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: Franklin Pierce School District
• NCES district ID: 5302940
• Math proficiency: 35% ▬ 0.00%
• Reading proficiency: 51% ▲ 2.00%
• Median HH income: $49,240
• Composite: 39.18/100
• National rank: #8227
• State rank: #197 of 291 in WA

Livability — Midland

• Score: 72/100
• State rank: #208
• US rank: #5731

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Midland, WA
• County: Pierce County · 788,257 people
• Metro: Seattle-Tacoma-Bellevue, WA
• Population (ZIP): 33,684
• Household income: $92,520
• Rent vs Own: 31.5% rent · 68.5% own
• Severe rent burden: 1085.0

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 0.69)
• Race & ethnicity: White 53% Two or more races 17% Hispanic / Latino 14% Black 10% Asian 6% Native American 4% Pacific Islander 3%
• Hispanic origin (detail): Mexican 10%
• Common ancestry: Portuguese 3% Lithuanian 2% Italian 2%
• Foreign-born: 12% · Canada, South Korea, Vietnam
• Languages at home: 81% English-only · Spanish 8% Other Asian/Pacific 3% Russian/Polish/Slavic 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: ▼ -471.23%
• Current HPI: 316.202
• Rent YoY: ▲ 2.05%
• 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

+468.9% since first listed

12 events — show timeline

• 2026-05-15 Pending — NWMLS as Distributed by MLS Grid
• 2026-05-11 Listed $128,000 NWMLS as Distributed by MLS Grid
• 2013-05-15 Delisted — NWMLS as Distributed by MLS Grid
• 2013-05-11 Sold (MLS) $11,250 NWMLS as Distributed by MLS Grid
• 2013-05-07 Pending — NWMLS as Distributed by MLS Grid
• 2013-04-10 Listed $11,250 NWMLS as Distributed by MLS Grid
• 2013-04-08 Delisted — NWMLS as Distributed by MLS Grid
• 2013-04-07 Sold (MLS) $9,113 NWMLS as Distributed by MLS Grid
• 2013-03-12 Price Changed $9,950 NWMLS as Distributed by MLS Grid
• 2013-03-04 Price Changed $14,000 NWMLS as Distributed by MLS Grid
• 2012-11-08 Price Changed $17,000 NWMLS as Distributed by MLS Grid
• 2012-11-07 Listed $22,500 NWMLS as Distributed by MLS Grid

Property tax history

+7.8%/yr

Latest (2026): $1,509 · +9.9% YoY. Source: county tax records.