25913 54th Avenue Ct E · Elk Plain, WA 98338

$259,950

3 bd · 2.0 ba · 1,240 sqft · Manufactured public records · 71 Days on market

Built 1973 7,630 sqft lot Est $383k · 32% 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 +23.3/30.0
• ARV discount +15.0/15.0
• DSCR +7.5/10.0
• 1% rule +5.5/10.0
• Schools +4.9/10.0
• Rent growth +3.3/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Come see this manufactured home on a huge lot! The cul-de-sac and neighborhood have a park-like setting. The living room offers freshly cleaned carpets and large windows for lots of natural lighting. The living room flows into the dining area with custom built-in shelving and cabinetry for extra storage space. The kitchen features white cabinetry, a peninsula with additional eating space and a slider to the back deck. Conveniently located washer and dryer just off the kitchen. The primary suite has its own private access to the deck and a 3/4 en suite with walk-in shower. Two additional bedrooms plus a full bath with large soaker tub. Attached carport has a shed for extra storage. Front and

Key facts

• Park-like setting
• Huge lot
• White cabinetry

Tags

• HUGE LOT
• PARK-LIKE SETTING
• CUSTOM BUILT-IN SHELVING
• WHITE CABINETRY
• ADDITIONAL EATING SPACE
• PRIVATE ACCESS TO THE DECK

Property features AI

Finance

• Financial info: Listing terms: Cash, Conventional, See Remarks

Exterior

• Parking: Attached carport (covered, 1 space)
• Security: Fully fenced
• Utilities: Public water; Septic sewer (septic tank); Electric service; Water provided by Rainier View Water; Power provided by City of Tacoma
• Home design: Manufactured home (double wide) on land; One story; Main level entry; Facing direction not specified
• Construction: Metal/vinyl construction materials; Torch down roof; Block foundation; Manufactured house / double wide; Built as Parklane structure
• Exterior features: Deck; Fully fenced yard; Outbuildings; Metal/vinyl exterior; Level topography; Located on a cul-de-sac; Paved access

Interior

• Kitchen: Kitchen with eating space; Dishwasher; Double oven; Refrigerator; Stove/Range
• Bedrooms: Three bedrooms on the main level
• Flooring: Vinyl; Carpet
• Bathrooms: One full bathroom; One three-quarter bathroom; One bathtub; Two showers
• Heating & cooling: Forced air heating; Has cooling
• Interior features: Water heater (electric, located in closet); Entry hall; Living room; Utility room
• Laundry & utility: Washer; Dryer; Utility room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $260k.

Deal economics

• At list price, monthly cash flow is $477 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $260k).
• Recommended offer: $244k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.5% vs local median 4.0% in Elk Plain — 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 63/100 on livability (#379 in WA) — a middle-class / working-renter tenant base. Strengths: housing A+, employment A-; Watch: crime C-, health & safety C-, cost of living D+.
• Bethel School District (suburban): math 47% / reading 59% proficiency, ranked #103 of 291 in WA (top 35%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+3.3%/yr); 236 active listings in the ZIP; high-income renter base; 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 $8k 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 71 days — a 6% lower offer ($244k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 21y ago; this cycle's ask has dropped $30k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $72k; list at $260k implies a 261% gain — meaningful room to come down on a strong offer.

Recommended offer $244,353 (6.0% below list)

Questions for the listing agent

1. It's been on market 71 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
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: 1.05% ✓
• Cap rate: 8.49%
• Cash-on-cash: 7.86%
• DSCR: 1.35
• GRM: 8.0

CMA / ARV

• ARV (on-the-fly): $383,160
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
25807 55th Avenue Ct E	0.07mi	3/2.0	1,296 (+4%)	11mo	$430,600	$332	80
25809 55th Avenue Ct E	0.07mi	3/2.0	1,318 (+6%)	12mo	$443,500	$336	76
5804 258th ST Ct E	0.16mi	3/2.0	1,344 (+8%)	4mo	$415,000	$309	75
25707 61st Ave Ct E	0.38mi	2/2.0 (-1)	1,248 (+1%)	4mo	$341,000	$273	73
6102 257th St E	0.38mi	2/2.0 (-1)	1,248 (+1%)	9mo	$205,000	$164	69
24909 51st Ave E	0.67mi	3/2.0	1,296 (+4%)	8mo	$424,950	$328	55
24903 51st Ave E	0.69mi	3/2.0	1,296 (+4%)	8mo	$420,000	$324	54
5325 254th St E	0.39mi	2/2.0 (-1)	1,140 (-8%)	15mo	$295,000	$259	51
6116 253rd St E	0.54mi	3/2.0	1,404 (+13%)	3mo	$385,000	$274	50
24817 50th Ave E	0.74mi	3/2.0	1,296 (+4%)	13mo	$425,000	$328	47
24952 51st Ave E	0.67mi	2/2.0 (-1)	1,152 (-7%)	22mo	$130,000	$113	34
24907 53rd Ave E	0.65mi	4/2.0 (+1)	1,404 (+13%)	22mo	$380,000	$271	24

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 · 3.32% rent growth · sell at horizon

5-year hold

• IRR: -4.0%
• Equity multiple: 0.85×
• Total profit: $-10,904
• Equity at exit: $38,759

10-year hold

• IRR: 6.0%
• Equity multiple: 1.45×
• Total profit: $33,100
• Equity at exit: $22,476

Cash invested: $72,786 (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 98338

• Rents YoY: 3.3%
• Active inventory: 236
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $2,718 medium
• Mortgage (P&I): −$1,363
• Tax from tax record: −$199 /mo · $2,389/yr
• Insurance: −$108
• HOA: −$0
• Vacancy / Maint / Mgmt: −$571
• Net cashflow: $477

Break-even live

Break-even rent $2,115

Max offer price $259,950

Occupancy floor 77%

Sensitivity live

Price	-10% $624	-5% $551	+0% $477	+5% $403	+10% $330
Rent	-10% $262	-5% $370	+0% $477	+5% $584	+10% $692
Rate	-1.0pp $608	-0.5pp $543	base $477	+0.5pp $410	+1.0pp $341

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: $64,988
• Closing costs: $7,798
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-21
   days on market $259,950 Active 71 DOM
2. 2026-06-18
   days on market $259,950 Active 68 DOM
3. 2026-06-17
   price $259,950 Active 67 DOM
4. 2026-06-17
   days on market $274,950 Active 67 DOM
5. 2026-06-16
   days on market $274,950 Active 66 DOM
6. 2026-06-15
   days on market $274,950 Active 65 DOM
7. 2026-06-13
   days on market $274,950 Active 63 DOM
8. 2026-06-13
   days on market $274,950 Active 62 DOM
9. 2026-06-09
   days on market $274,950 Active 59 DOM
10. 2026-06-08
    days on market $274,950 Active 58 DOM
11. 2026-06-07
    statusdays on market $274,950 Active 57 DOM
12. 2026-06-01
    status $274,950 Pending 54 DOM
13. 2026-05-31
    days on market $274,950 Active 54 DOM
14. 2026-05-05
    price $274,950
15. 2026-04-07
    listed $289,950 Active
16. 2005-06-01
    soldstatus $72,000
17. 2005-05-31
    soldstatus $72,000
18. 2005-03-15
    listed $74,670

ⓘ 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: $2,389 · $199/mo
• Projected year-2 tax: $2,548 · $212/mo
• Expected delta: +$158/yr (+$13/mo · 6.6%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥87°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 6/10 Major 7 unhealthy d/yr today · 9 by 30 yrs out

Taxation est. · year 1

• Rental income: $32,622
• − Mortgage interest: −$14,561
• − Property taxes: −$2,389
• − Insurance: −$1,300
• − Repairs & maintenance: −$2,610
• − Management: −$2,610
• − Depreciation: −$7,562
• Taxable income: $1,590
• Est. tax owed @ 24.0%: −$382
• After-tax cash flow: $5,342/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: Bethel School District
• NCES district ID: 5300480
• Math proficiency: 47% ▬ 0.00%
• Reading proficiency: 59% ▲ 2.00%
• Median HH income: $65,872
• Composite: 48.66/100
• National rank: #4568
• State rank: #103 of 291 in WA

Livability — Elk Plain

• Score: 63/100
• State rank: #379
• US rank: #14927

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Elk Plain, WA
• County: Pierce County · 788,257 people
• City population: 49,940
• Metro: Seattle-Tacoma-Bellevue, WA
• Population (ZIP): 32,687
• Household income: $114,819
• Rent vs Own: 15.5% rent · 84.5% own
• Severe rent burden: 236.0

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 (71%)
• Race & ethnicity: White 71% Two or more races 15% Hispanic / Latino 12% Asian 3% Black 3% Pacific Islander 2% Native American 1%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Italian 4% Portuguese 4% Iranian 3%
• Foreign-born: 7% · Canada, South Korea, China
• Languages at home: 88% English-only · Spanish 5% Russian/Polish/Slavic 2% Other Asian/Pacific 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: ▼ -501.28%
• Current HPI: 304.4241
• Rent YoY: ▲ 3.32%
• 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

+268.2% since first listed

5 events — show timeline

• 2026-05-05 Price Changed $274,950 NWMLS as Distributed by MLS Grid
• 2026-04-07 Listed $289,950 NWMLS as Distributed by MLS Grid
• 2005-06-01 Sold (MLS) $72,000 NWMLS as Distributed by MLS Grid
• 2005-05-31 Sold (Public Records) $72,000 Public Records
• 2005-03-15 Listed $74,670 NWMLS as Distributed by MLS Grid

Property tax history

+5.6%/yr

Latest (2026): $2,389 · +10.8% YoY. Source: county tax records.