3012 E Valley View Ter · Tacoma, WA 98404

$612,000

4 bd · 4.0 ba · 2,884 sqft · SingleFamily public records · 44 Days on market

Built 2004 5,750 sqft lot Est $617k · at est.

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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 +12.3/30.0
• ARV discount +7.9/15.0
• Schools +4.2/10.0
• Livability +3.9/5.0
• DSCR +3.6/10.0
• 1% rule +3.3/10.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Experience breathtaking views and timeless charm in this beautifully maintained split-level home located in Tacoma’s desirable McKinley Park area. With easy access to downtown Tacoma, this home offers both convenience and comfort in a prime location. The open main floor features a spacious living room with rich hardwood floors, a cozy fireplace, wood-wrapped windows, and an abundance of natural light. Enjoy sweeping views of the Puget Sound that create a truly inviting atmosphere. The gourmet kitchen includes granite countertops, a large island, eating space, and quality millwork throughout—perfect for everyday living and entertaining. Upstairs, the primary suite offers a privat

Key facts

• Wood-wrapped windows
• Breathtaking views
• Cozy fireplace

Tags

• BREATHTAKING VIEWS
• EASY ACCESS TO DOWNTOWN
• SPACIOUS LIVING ROOM
• COZY FIREPLACE
• WOOD-WRAPPED WINDOWS
• ABUNDANCE OF NATURAL LIGHT

Property features AI

Finance

• Other: Located in McKinley Hill; Lot features: Lots 7 & 8, dimensions 50 x 115 x 50 x 115
• Financial info: Accepts Cash, Conventional, FHA, and VA financing

Exterior

• Parking: Attached garage; Has garage; 2 covered spaces; 2 uncovered spaces; Driveway and off-street parking
• Security: Partially fenced
• Utilities: Public water (Tacoma Public Utilities); Sewer connected (Pierce County); Power from Tacoma Public Utilities; Cable connected (various); Internet connected (various)
• Home design: Single-family residence; Two stories with basement; Split entry; House with view; Built in 2007 (effective); Good condition
• Construction: Built on lot; Cement plank and wood construction; Composition roof; Poured concrete foundation; Effective year built 2007
• Exterior features: Cement-planked and wood exterior; Partially fenced; Patio; Garden space; Cable TV available; High-speed internet available; Propane on site; Partially sloped topography; Curbs, paved streets, and sidewalk

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator; Stove/Range; See remarks
• Bedrooms: 4 bedrooms (3 upper, 1 lower)
• Flooring: Hardwood; Vinyl
• Bathrooms: 3 full bathrooms; 1 half bathroom; 3 bathtubs; 2 showers
• Heating & cooling: Forced air heating; No central cooling listed; Electric and propane energy sources
• Interior features: Ceiling fans; Dining room; Fireplace; Walk-in closets
• Laundry & utility: Washer; Dryer; Water heater located in garage

What this means for you Summary

Snapshot

• This is a 4-bed/4.0-bath single-family listed at $612k.

Deal economics

• At list price, monthly cash flow is $-117 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $591k (3.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $507k (17.1% below list).
• Recommended offer: $507k (17.1% below list) — sets the bar for 1% rule.
• Cap rate 6.1% 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.
• Tacoma School District (urban): math 40% / reading 53% proficiency, ranked #169 of 291 in WA (top 58%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Blix Elementary School (475 students, 69% FRL); First Creek Middle School (575 students, 82% FRL); Lincoln High School (1,578 students, 73% FRL) — zoned schools average 75% FRL vs 53% district-wide (22 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+1.6%/yr); 182 active listings in the ZIP; 3 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).
• At $5,071/mo this rent would consume 74% of the median local household income ($82k/yr) (locally 989% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $4k of loan paydown is wiped out by about $18k 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 44 days — a 3% lower offer ($594k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 15y 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 $310k; list at $612k implies a 97% gain — meaningful room to come down on a strong offer.

Recommended offer $507,142 (17.1% 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 44 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.83% ✗
• Cap rate: 6.06%
• Cash-on-cash: -0.82%
• DSCR: 0.96
• GRM: 10.1

CMA / ARV

• ARV (on-the-fly): $617,176
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1005 E 30th St	0.12mi	3/2.0 (-1)	2,906 (+1%)	9mo	$662,500	$228	73
1206 E 30th	0.06mi	4/2.0	2,577 (-11%)	6mo	$500,000	$194	67
3301 McKinley Ave	0.30mi	5/2.5 (+1)	2,800 (-3%)	8mo	$705,000	$252	64
1206 E 29th St	0.11mi	3/2.0 (-1)	2,580 (-10%)	2mo	$600,000	$233	62
1006 E Harrison St	0.39mi	4/1.0	3,011 (+4%)	9mo	$500,000	$166	55
1006 E 34th St	0.26mi	3/2.5 (-1)	3,063 (+6%)	18mo	$615,000	$201	52
1014 E 32nd St	0.13mi	3/1.0 (-1)	2,456 (-15%)	11mo	$525,000	$214	44
3626 E Howe St	0.69mi	5/3.0 (+1)	2,650 (-8%)	4mo	$600,000	$226	42
3571 E F St	0.62mi	3/2.0 (-1)	2,508 (-13%)	2mo	$290,000	$116	34
1625 E 34th St	0.44mi	3/1.0 (-1)	2,588 (-10%)	19mo	$495,800	$192	29

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 · 1.64% rent growth · sell at horizon

5-year hold

• IRR: -19.1%
• Equity multiple: 0.34×
• Total profit: $-113,428
• Equity at exit: $91,251

10-year hold

• IRR: -14.7%
• Equity multiple: 0.21×
• Total profit: $-135,621
• Equity at exit: $52,915

Cash invested: $171,360 (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 98404

• Rents YoY: 1.6%
• Active inventory: 182
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $5,071 medium
• Mortgage (P&I): −$3,209
• Tax from tax record: −$659 /mo · $7,903/yr
• Insurance: −$255
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,065
• Net cashflow: $-117

Break-even live

Break-even rent $5,219

Max offer price $591,415

Occupancy floor 97%

Sensitivity live

Price	-10% $230	-5% $57	+0% $-117	+5% $-290	+10% $-463
Rent	-10% $-517	-5% $-317	+0% $-117	+5% $84	+10% $284
Rate	-1.0pp $192	-0.5pp $39	base $-117	+0.5pp $-275	+1.0pp $-436

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: $153,000
• Closing costs: $18,360
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
106 E 37th St Tacoma, WA	3.0	1.0	2127	$2,475	$1.16	10d	1	1.01mi
2135 Commerce St Tacoma, WA	3.0	3.5	2800	$11,500	$4.11	19d	1	1.11mi
3620 S D St Tacoma, WA	4.0	2.0	2368	$2,660	$1.12	26d	1	1.16mi

Listing history 29 events

1. 2026-06-22
   days on market $612,000 Active 44 DOM
2. 2026-06-21
   days on market $612,000 Active 43 DOM
3. 2026-06-18
   days on market $612,000 Active 40 DOM
4. 2026-06-17
   days on market $612,000 Active 39 DOM
5. 2026-06-16
   days on market $612,000 Active 38 DOM
6. 2026-06-15
   days on market $612,000 Active 37 DOM
7. 2026-06-13
   days on market $612,000 Active 35 DOM
8. 2026-06-13
   days on market $612,000 Active 34 DOM
9. 2026-06-09
   days on market $612,000 Active 31 DOM
10. 2026-06-08
    days on market $612,000 Active 30 DOM
11. 2026-06-07
    days on market $612,000 Active 29 DOM
12. 2026-06-04
    days on market $612,000 Active 26 DOM
13. 2026-06-03
    days on market $612,000 Active 25 DOM
14. 2026-06-02
    days on market $612,000 Active 24 DOM
15. 2026-06-01
    days on market $612,000 Active 23 DOM
16. 2026-05-31
    days on market $612,000 Active 22 DOM
17. 2026-05-22
    price $612,000
18. 2026-05-09
    listed $615,000 Active
19. 2016-05-12
    soldstatus $310,000 Sold
20. 2016-05-12
    soldstatus $310,000
21. 2016-04-15
    status Pending Inspection
22. 2016-04-10
    price $319,950
23. 2016-03-12
    listed $329,950 Active
24. 2012-05-02
    soldstatus $170,000 Sold
25. 2012-05-02
    soldstatus $170,000
26. 2012-02-08
    status Pending
27. 2011-11-05
    status Pending Inspection
28. 2011-08-11
    listed $215,000 Active
29. 2011-04-27
    soldstatus $404,560

ⓘ 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: $7,903 · $659/mo
• Projected year-2 tax: $7,903 · $659/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 · 15 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: $60,857
• − Mortgage interest: −$34,282
• − Property taxes: −$7,903
• − Insurance: −$3,060
• − Repairs & maintenance: −$4,869
• − Management: −$4,869
• − Depreciation: −$17,804
• Taxable loss: −$11,928
• Est. tax savings @ 24.0%: +$2,863
• After-tax cash flow: $1,464/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: Tacoma School District
• NCES district ID: 5308700
• Math proficiency: 40% ▬ 0.00%
• Reading proficiency: 53% ▲ 1.00%
• Median HH income: $52,467
• Composite: 42.25/100
• National rank: #6987
• State rank: #169 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): 35,961
• Household income: $82,191
• Rent vs Own: 31.4% rent · 68.6% own
• Severe rent burden: 989.0

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: Highly diverse neighborhood (Simpson 0.77)
• Race & ethnicity: White 38% Hispanic / Latino 20% Asian 17% Two or more races 16% Black 11% Native American 3% Pacific Islander 1%
• Hispanic origin (detail): Mexican 16% Puerto Rican 1%
• Common ancestry: Italian 3% Portuguese 2% Slovak 1%
• Foreign-born: 20% · Canada, Vietnam, South Korea
• Languages at home: 68% English-only · Spanish 13% Other Asian/Pacific 7% Vietnamese 4%

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: ▼ -462.09%
• Current HPI: 360.0843
• Rent YoY: ▲ 1.64%
• 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

+51.3% since first listed

13 events — show timeline

• 2026-05-22 Price Changed $612,000 NWMLS as Distributed by MLS Grid
• 2026-05-09 Listed $615,000 NWMLS as Distributed by MLS Grid
• 2016-05-12 Sold (Public Records) $310,000 Public Records
• 2016-05-12 Sold (MLS) $310,000 NWMLS as Distributed by MLS Grid
• 2016-04-15 Pending — NWMLS as Distributed by MLS Grid
• 2016-04-10 Price Changed $319,950 NWMLS as Distributed by MLS Grid
• 2016-03-12 Listed $329,950 NWMLS as Distributed by MLS Grid
• 2012-05-02 Sold (Public Records) $170,000 Public Records
• 2012-05-02 Sold (MLS) $170,000 NWMLS as Distributed by MLS Grid
• 2012-02-08 Pending — NWMLS as Distributed by MLS Grid
• 2011-11-05 Pending — NWMLS as Distributed by MLS Grid
• 2011-08-11 Listed $215,000 NWMLS as Distributed by MLS Grid
• 2011-04-27 Sold (Public Records) $404,560 Public Records

Property tax history

+3.6%/yr

Latest (2026): $7,903 · +2.7% YoY. Source: county tax records.