8013 194th St E #44 · Graham, WA 98387

$156,000

3 bd · 2.0 ba · 1,178 sqft · Manufactured public records · 5 Days on market

Built 1989

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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
• ARV discount +7.5/15.0
• Schools +4.9/10.0
• Rent growth +3.6/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome home to this beautifully updated 3-bedroom, 2-bath manufactured home featuring modern upgrades throughout! The stunning kitchen has been fully refreshed with quartz countertops, white shaker cabinets, and brand-new stainless steel appliances. Enjoy peace of mind with a newer roof installed in 2022, along with new windows and doors that enhance both efficiency and style. The updated bathrooms include a spacious walk-in shower for a spa-like feel. Outside, you'll love the large backyard & large deck offering endless possibilities for entertaining, bbq, gardening, pets, or play. Move-in ready and packed with value, this home is a must-see!

Key facts

• Quartz countertops
• Newer roof
• Updated kitchen

Tags

• UPDATED KITCHEN
• QUARTZ COUNTERTOPS
• WHITE SHAKER CABINETS
• STAINLESS STEEL APPLIANCES
• NEWER ROOF
• NEW WINDOWS

Property features AI

Finance

• Financial info: Listing terms: Cash or Conventional
• HOA & community: Park: Crystal Pointe Estates; Pets allowed; Park approved for sale; Land lease: $1,220

Exterior

• Parking: Carport
• Security: Security gate
• Utilities: Electric power; Private water (Washington Water Service); Septic sewer
• Home design: Manufactured home (double wide); Fleetwood AMERICAN MANSION model; One level; Tie-down foundation; Very good condition
• Construction: Wood construction; Composition roof
• Exterior features: Wood exterior; Wood products; Patio/porch/deck; Cul-de-sac location; Dead-end street

Interior

• Kitchen: Dishwasher; Refrigerator; Stove/Range
• Bedrooms: 3 bedrooms
• Flooring: Laminate
• Bathrooms: 2 full bathrooms; 2 showers
• Heating & cooling: Forced air heating
• Interior features: Water heater (electric, located in closet); Ceiling fans; Vaulted ceilings; Double pane windows; Walk-in closet; Patio/porch/deck; Landscaped
• Laundry & utility: Washer; Dryer; Utility room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $156k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $156k).
• Cap rate 14.9% vs local median 3.6% in Graham — 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 64/100 on livability (#373 in WA) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+; Watch: crime C-, health & safety C-, amenities F.
• 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 fast (+4.2%/yr); 383 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 17d 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 $1k of loan paydown is wiped out by about $5k 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 + 4.2% rent growth), your $44k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 19y 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 $30k; list at $156k implies a 420% gain — meaningful room to come down on a strong offer.

Recommended offer $156,000

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. 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.
3. 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.
4. 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: 1.69% ✓
• Cap rate: 14.88%
• Cash-on-cash: 30.65%
• DSCR: 2.36
• GRM: 4.9

CMA / ARV

• ARV (on-the-fly): $391,096
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8308 195 St E #105	0.21mi	3/2.0	1,120 (-5%)	11mo	$149,000	$133	73
8316 198th St E	0.35mi	3/2.0	1,152 (-2%)	23mo	$505,000	$438	61
19013 78th Avenue Ct E	0.19mi	3/2.0	1,344 (+14%)	19mo	$406,500	$302	52
6909 197th St E	0.71mi	3/2.0	1,280 (+9%)	24mo	$425,000	$332	33

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 · 4.24% rent growth · sell at horizon

5-year hold

• IRR: 26.7%
• Equity multiple: 2.12×
• Total profit: $49,087
• Equity at exit: $23,260

10-year hold

• IRR: 35.0%
• Equity multiple: 4.39×
• Total profit: $148,147
• Equity at exit: $13,488

Cash invested: $43,680 (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 98387

• Rents YoY: 4.2%
• Active inventory: 383
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $2,636 high
• Mortgage (P&I): −$818
• Tax from tax record: −$84 /mo · $1,002/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$554
• Net cashflow: $1,116

Break-even live

Break-even rent $1,224

Max offer price $156,000

Occupancy floor 53%

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: $39,000
• Closing costs: $4,680
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
17814 75th Ave E Puyallup, WA	2.0	1.5	1064	$2,295	$2.16	20d	1	0.94mi
17718 85th Avenue Ct E Unit 17718-C Puyallup, WA	2.0	1.5	916	$1,525	$1.66	22d	1	1.02mi
7513 177th Street Ct E Puyallup, WA	1.0–4.0	1.0–2.5	1243	$2,940	$2.37	10d	7	1.06mi
9202 176th St E Puyallup, WA	1.0–2.0	1.0–2.0	824	$1,960	$2.38	2d	7	1.27mi
19906 100th Avenue Ct E Graham, WA	3.0	2.0	1322	$2,749	$2.08	17d	1	1.29mi
10007 186th St E #234 Puyallup, WA	2.0	2.0	1019	$2,300	$2.26	2d	1	1.33mi
18527 101st Ave Ct E Puyallup, WA	2.0	2.0	1026	$1,600	$1.56	44d	1	1.42mi
10234 194th St E Graham, WA	2.0	1.0–2.5	1231	$2,252	$1.83	2d	17	1.45mi

Listing history 15 events

1. 2026-06-03
   status $156,000 Pending 5 DOM
2. 2026-06-02
   days on market $156,000 Active Under Contract 5 DOM
3. 2026-06-01
   days on market $156,000 Active Under Contract 4 DOM
4. 2026-05-31
   statusdays on market $156,000 Active Under Contract 3 DOM
5. 2026-05-28
   listed $156,000 Active
6. 2010-02-19
   soldstatus $30,000 Sold
7. 2009-12-03
   status Pending
8. 2009-10-29
   status Active
9. 2009-10-22
   status Pending Inspection
10. 2009-10-14
    status Active
11. 2009-10-12
    status Pending Inspection
12. 2009-10-06
    listed $30,000 Active
13. 2007-08-28
    soldstatus $49,000
14. 2007-08-16
    historical
15. 2007-05-17
    listed $57,995

ⓘ 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: $1,002 · $84/mo
• Projected year-2 tax: $1,529 · $127/mo
• Expected delta: +$527/yr (+$44/mo · 52.6%)

ⓘ 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 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥87°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 7/10 Severe 10 unhealthy d/yr today · 10 by 30 yrs out

Taxation est. · year 1

• Rental income: $31,631
• − Mortgage interest: −$8,738
• − Property taxes: −$1,002
• − Insurance: −$780
• − Repairs & maintenance: −$2,530
• − Management: −$2,530
• − Depreciation: −$4,538
• Taxable income: $11,511
• Est. tax owed @ 24.0%: −$2,763
• After-tax cash flow: $10,627/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 — Graham

• Score: 64/100
• State rank: #373
• US rank: #14219

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Graham, WA
• County: Pierce County · 788,257 people
• City population: 32,687
• Metro: Seattle-Tacoma-Bellevue, WA
• Population (ZIP): 50,774
• Household income: $106,872
• Rent vs Own: 22.6% rent · 77.4% own
• Severe rent burden: 807.0

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 0.68)
• Race & ethnicity: White 53% Two or more races 18% Hispanic / Latino 16% Black 10% Asian 6% Pacific Islander 4%
• Hispanic origin (detail): Mexican 10% Puerto Rican 2%
• Common ancestry: Portuguese 3% Italian 3% Slovak 2%
• Foreign-born: 11% · Canada, South Korea
• Languages at home: 82% English-only · Spanish 7% Russian/Polish/Slavic 2% Other Asian/Pacific 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: ▼ -208.94%
• Current HPI: 308.0462
• Rent YoY: ▲ 4.24%
• 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

+169.0% since first listed

11 events — show timeline

• 2026-05-28 Listed $156,000 NWMLS as Distributed by MLS Grid
• 2010-02-19 Sold (MLS) $30,000 NWMLS as Distributed by MLS Grid
• 2009-12-03 Pending — NWMLS as Distributed by MLS Grid
• 2009-10-29 Relisted — NWMLS as Distributed by MLS Grid
• 2009-10-22 Pending — NWMLS as Distributed by MLS Grid
• 2009-10-14 Relisted — NWMLS as Distributed by MLS Grid
• 2009-10-12 Pending — NWMLS as Distributed by MLS Grid
• 2009-10-06 Listed $30,000 NWMLS as Distributed by MLS Grid
• 2007-08-28 Sold (MLS) $49,000 NWMLS as Distributed by MLS Grid
• 2007-08-16 Delisted — NWMLS as Distributed by MLS Grid
• 2007-05-17 Listed $57,995 NWMLS as Distributed by MLS Grid

Property tax history

+8.4%/yr

Latest (2026): $1,002 · +8.8% YoY. Source: county tax records.