10512 60th Street Ct E #129 · North Puyallup, WA 98372

$225,000

2 bd · 2.0 ba · 1,040 sqft · Manufactured public records · 291 Days on market

Built 2023 Good condition $216/sqft · 165% above area ↓ 6% since listing

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Why this score? — see what drove the C- 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 +16.3/30.0
• ARV discount +7.5/15.0
• Schools +5.4/10.0
• DSCR +5.1/10.0
• Livability +4.2/5.0
• Condition / age +4.0/5.0
• 1% rule +3.8/10.0
• Rent growth +3.6/5.0
• Appreciation +0.0/10.0

Listing remarks

Like-new 2023 home in the desirable Golden Rose 55+ community! This 2-bedroom, 2-bath beauty features an open floor plan with a spacious kitchen, abundant storage, and brand-new stove. Enjoy a dedicated dining area, large open family room, and a primary suite with a walk-in shower. Home offers forced air and A/C! Relax on the covered front porch with secure gated access, and convenient carport parking. All located on a corner lot. Golden Rose offers incredible amenities—scenic river trails, clubhouse, craft room, fitness center, pet areas, and plenty of social activities. A wonderful opportunity to enjoy comfort, convenience, and community! Ask your Realtor about seller incentives!

Key facts

• Covered front porch
• Open floor plan
• Spacious kitchen

Tags

• OPEN FLOOR PLAN
• SPACIOUS KITCHEN
• DEDICATED DINING AREA
• LARGE OPEN FAMILY ROOM
• WALK-IN SHOWER
• COVERED FRONT PORCH

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $225k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $59 ($705/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $199k (11.6% below list).
• Recommended offer: $198k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 85/100 on livability (#25 in WA, #468 nationally) — a professional / high-income tenant draw. Strengths: crime A+, amenities A+, housing A+; Watch: employment C-.
• 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: Stewart Elementary (345 students, 68% FRL); Edgemont Jr High (521 students, 38% FRL); Puyallup High School (1,701 students, 38% FRL) — zoned schools average 48% FRL vs 27% district-wide (21 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 26d 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 $2k of loan paydown is wiped out by about $7k 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 291 days — a 12% lower offer ($198k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

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

Recommended offer $198,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 291 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 0.88% ✗
• Cap rate: 6.96%
• Cash-on-cash: 2.38%
• DSCR: 1.11
• GRM: 9.4

CMA / ARV

• ARV (median comp): $84,950
• List price: $225,000
• Delta: 164.86%
• Verdict: OVERPRICED
• Comps: 15 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
10522 60th Street Ct E	0.09mi	2/2.0	1,056 (+2%)	3mo	$84,950	$80	91
10805 62nd Street Ct E #3	0.08mi	2/2.0	1,060 (+2%)	8mo	$94,000	$89	86
10515 60th Street Ct E #165	0.11mi	2/2.0	1,052 (+1%)	11mo	$30,000	$29	84
10524 63rd Street Ct E #51	0.06mi	2/2.0	1,147 (+10%)	4mo	$122,000	$106	77
10701 63rd St E	0.04mi	2/2.0	1,140 (+10%)	12mo	$60,000	$53	72
6312 107th Ave E #56	0.04mi	2/2.0	1,152 (+11%)	10mo	$72,500	$63	72
10601 61st St E #117	0.07mi	3/2.0 (+1)	924 (-11%)	12mo	$60,000	$65	64
10713 61st St E Unit 108A	0.07mi	2/1.0	920 (-12%)	12mo	$95,000	$103	63
5705 113th Ave E #68	0.55mi	3/2.0 (+1)	1,008 (-3%)	10mo	$62,000	$62	56
5718 112th Avenue Ct E #37	0.41mi	2/2.0	900 (-14%)	4mo	$125,000	$139	55
5606 112th Avenue Ct E #15	0.47mi	2/2.0	924 (-11%)	12mo	$85,000	$92	50
5620 112th Avenue Ct E #23	0.44mi	3/1.0 (+1)	924 (-11%)	9mo	$18,500	$20	44

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 · 4.46% rent growth · sell at horizon

5-year hold

• IRR: -12.9%
• Equity multiple: 0.53×
• Total profit: $-29,753
• Equity at exit: $33,548

10-year hold

• IRR: -1.9%
• Equity multiple: 0.86×
• Total profit: $-8,551
• Equity at exit: $19,454

Cash invested: $63,000 (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 98372

• Rents YoY: 4.5%
• Active inventory: 169
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $1,988 high
• Mortgage (P&I): −$1,180
• Tax from tax record: −$172 /mo · $2,063/yr
• Insurance: −$94
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$418
• Net cashflow: $59

Break-even live

Break-even rent $1,914

Max offer price $225,000

Occupancy floor 92%

Sensitivity live

Price	-10% $186	-5% $122	+0% $59	+5% $-5	+10% $-69
Rent	-10% $-98	-5% $-20	+0% $59	+5% $137	+10% $216
Rate	-1.0pp $172	-0.5pp $116	base $59	+0.5pp $0	+1.0pp $-59

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1027 N Meridian Puyallup, WA	1.0–2.0	1.0	782	$1,795	$2.29	7d	6	0.20mi
513 5th St NE Puyallup, WA	3.0	1.0	1140	$2,575	$2.26	45d	1	0.33mi
5517 108th Avenue Ct E Unit 5517 Puyallup, WA	2.0	1.0	864	$1,725	$2.00	45d	1	0.42mi
735 2nd St NW Unit 1 Puyallup, WA	2.0	1.0	837	$1,695	$2.03	23d	1	0.42mi
501 2nd Ave NE Puyallup, WA	1.0–2.0	1.0–2.0	1506	$2,299	$1.53	45d	17	0.43mi
501 2nd St NE Puyallup, WA	1.0–2.0	1.0–2.0	850	$2,299	$2.70	7d	11	0.43mi
6808 112th Ave E Unit B Puyallup, WA	3.0	1.5	1400	$2,300	$1.64	45d	1	0.52mi
407 Valley Ave NE Puyallup, WA	1.0–3.0	1.0–2.0	923	$2,062	$2.23	45d	1	0.54mi
721 2nd Ave NE Puyallup, WA	2.0	1.5	1000	$1,895	$1.90	26d	1	0.55mi
719 2nd Ave NE Apt 2 Puyallup, WA	2.0	1.5	1000	$1,895	$1.90	7d	1	0.55mi
509 Valley Ave NE Puyallup, WA	2.0–3.0	2.5	1465	$2,770	$1.89	0d	8	0.56mi
120 5th St NE Unit 1 Puyallup, WA	1.0	1.0	726	$1,595	$2.20	45d	1	0.59mi
4908 110th Ave Ct E Edgewood, WA	3.0	2.0	1100	$2,395	$2.18	20d	1	0.82mi
344 7th St SE Puyallup, WA	2.0	1.0	800	$1,650	$2.06	45d	2	0.83mi
344 7th St SE Unit 20 Puyallup, WA	2.0	1.0	800	$1,650	$2.06	26d	1	0.83mi
344 7th St SE Puyallup, WA	2.0	1.0	800	$1,622	$2.03	5d	2	0.83mi
344 7th St SE Unit 8 Puyallup, WA	2.0	1.0	800	$1,595	$1.99	26d	1	0.83mi
403 4th Ave SE Puyallup, WA	3.0	2.5	1184	$2,840	$2.40	0d	1	0.87mi
1617 E Main Puyallup, WA	1.0–2.0	1.0–2.0	930	$2,151	$2.31	1d	29	0.88mi
803 9th St NW Unit 803 Puyallup, WA	2.0	1.0	800	$1,775	$2.22	22d	1	0.89mi
4824 110th Avenue Ct E Edgewood, WA	1.0–2.0	1.0	775	$2,050	$2.65	7d	3	0.90mi
10710 48th St E Unit A Edgewood, WA	2.0	1.0	898	$2,295	$2.56	45d	1	0.91mi
4729 114th Ave E Edgewood, WA	2.0	1.0	800	$1,995	$2.49	22d	1	0.96mi
4727 114th Ave E Edgewood, WA	2.0	1.0	800	$1,995	$2.49	22d	1	0.96mi
813 W Main Puyallup, WA	1.0	1.0	700	$1,600	$2.29	45d	1	1.04mi
5406 122nd Ave E Unit B Edgewood, WA	2.0	1.0	1400	$2,325	$1.66	1d	1	1.06mi
1017 13th Street Ct NW Puyallup, WA	3.0	2.0	1250	$2,200	$1.76	45d	1	1.09mi
508 11th St NW Puyallup, WA	2.0	1.0	1037	$2,000	$1.93	45d	1	1.09mi
508 11th St NW Unit H Puyallup, WA	2.0	1.0	1037	$1,800	$1.74	18d	1	1.09mi
601 5th St SW Unit C Puyallup, WA	2.0	2.5	1450	$2,450	$1.69	7d	1	1.11mi
516 16th St SE Puyallup, WA	2.0	1.0	950	$1,895	$1.99	26d	1	1.13mi
1218 7th Ave SE Unit 1208 Puyallup, WA	2.0	1.0	885	$2,145	$2.42	26d	1	1.15mi
1402 7th Ave SE Unit B Puyallup, WA	3.0	2.5	1351	$2,300	$1.70	45d	1	1.17mi
805 3rd St SW Puyallup, WA	2.0	1.0	957	$1,850	$1.93	45d	1	1.17mi
322 9th Ave SE Puyallup, WA	2.0	1.0	975	$1,610	$1.65	14d	3	1.20mi
322 9th Ave SE Unit 08 Puyallup, WA	2.0	1.0	975	$1,595	$1.64	7d	1	1.20mi
322 9th Ave SE Apt 9 Puyallup, WA	2.0	1.0	975	$1,550	$1.59	7d	1	1.22mi
931 9th St SE Puyallup, WA	1.0–2.0	1.0	784	$1,845	$2.35	4d	7	1.25mi
1022 10th Ave SE Puyallup, WA	2.0	1.5	1100	$1,950	$1.77	45d	1	1.34mi
305 13th St SW Unit D Puyallup, WA	2.0	1.5	880	$1,820	$2.07	45d	1	1.37mi

Listing history 18 events

1. 2026-06-21
   days on market $225,000 Active 291 DOM
2. 2026-06-18
   days on market $225,000 Active 288 DOM
3. 2026-06-17
   days on market $225,000 Active 287 DOM
4. 2026-06-16
   days on market $225,000 Active 286 DOM
5. 2026-06-15
   days on market $225,000 Active 285 DOM
6. 2026-06-13
   days on market $225,000 Active 283 DOM
7. 2026-06-13
   days on market $225,000 Active 282 DOM
8. 2026-06-09
   days on market $225,000 Active 279 DOM
9. 2026-06-08
   days on market $225,000 Active 278 DOM
10. 2026-06-07
    days on market $225,000 Active 277 DOM
11. 2026-06-04
    days on market $225,000 Active 274 DOM
12. 2026-06-03
    days on market $225,000 Active 273 DOM
13. 2026-06-02
    days on market $225,000 Active 272 DOM
14. 2026-06-01
    days on market $225,000 Active 271 DOM
15. 2026-05-31
    days on market $225,000 Active 270 DOM
16. 2026-01-07
    price $225,000
17. 2025-10-07
    price $235,000
18. 2025-09-03
    listed $240,000 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: $2,063 · $172/mo
• Projected year-2 tax: $2,205 · $184/mo
• Expected delta: +$142/yr (+$12/mo · 6.9%)

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

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 ≥89°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: $23,859
• − Mortgage interest: −$12,603
• − Property taxes: −$2,063
• − Insurance: −$1,922
• − Repairs & maintenance: −$1,909
• − Management: −$1,909
• − Depreciation: −$6,545
• Taxable loss: −$3,092
• Est. tax savings @ 24.0%: +$742
• After-tax cash flow: $1,447/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 · 13 photos

Good 80/100 Cosmetic rehab

This 2023 manufactured home in Golden Rose 55+ community is in excellent condition with modern updates and a good curb appeal. It's move-in ready with minimal maintenance required.

Value-add opportunities

• Resale Paint exterior — Enhances curb appeal
• Rental Trim landscaping — Improves curb appeal and enhances property value

Renovation cost estimate screening

Value-add ROI direction

• Resale Paint exterior — Enhances curb appeal ↑
• Rental Trim landscaping — Improves curb appeal and enhances property value ↑

ⓘ 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 — North Puyallup

• Score: 85/100
• State rank: #25
• US rank: #468

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: North Puyallup, WA
• County: Pierce County · 788,257 people
• 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

-6.2% since first listed

3 events — show timeline

• 2026-01-07 Price Changed $225,000 NWMLS as Distributed by MLS Grid
• 2025-10-07 Price Changed $235,000 NWMLS as Distributed by MLS Grid
• 2025-09-03 Listed $240,000 NWMLS as Distributed by MLS Grid

Property tax history

-4.0%/yr

Latest (2026): $2,063 · -4.0% YoY. Source: county tax records.