2802 S 5th Ave #41 · Union Gap, WA 98903

$131,500

3 bd · 4.5 ba · 1,344 sqft · Manufactured public records · 53 Days on market

Manufactured home Built 2023 Good condition $98/sqft · 9% below area Est $145k · 9% under ↓ 8% since listing

---

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 +24.5/30.0
• ARV discount +11.7/15.0
• DSCR +7.9/10.0
• 1% rule +5.5/10.0
• Schools +4.9/10.0
• Condition / age +4.0/5.0
• Livability +3.3/5.0
• Appreciation +2.5/10.0
• Rent growth +2.5/5.0
• Manufactured-home adj. -5.3

Listing remarks

Welcome to this beautifully maintained 2023 home in the desirable Meadowlands Estates community in Union Gap! Offering 3 bedrooms, 2 bathrooms, and 1,344 square feet of comfortable living space, this home still feels practically brand new and features a layout designed for modern living. Step inside to an inviting open-concept living, kitchen, and dining area with vaulted ceilings, beautiful flooring, and an abundance of natural light throughout. The kitchen is thoughtfully designed with stylish cabinetry, stainless steel appliances, and plenty of space for cooking and entertaining.

Key facts

• Oversized front deck
• Storage shed
• Open-concept living

Tags

• OPEN-CONCEPT LIVING
• OVERSIZED FRONT DECK
• FULLY FENCED BACKYARD
• STORAGE SHED

What this means for you Summary

Snapshot

• This is a 3-bed/4.5-bath manufactured listed at $132k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $270 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $132k).
• Recommended offer: $128k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.8% vs local median 4.5% in Union Gap — 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 66/100 on livability (#315 in WA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A-; Watch: crime F, amenities F, commute F.
• Union Gap School District (suburban): math 54% / reading 59% proficiency, ranked #105 of 291 in WA (top 36%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; 71% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Union Gap School (577 students, 93% FRL) — zoned schools average 93% FRL vs 71% district-wide (22 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 291 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals lingering (median 109d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 62% of comp listings sitting > 30 days — soft ceiling on asking rent; 468 units permitted in Yakima County in 2024 (23 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $909 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Yakima County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 53 days — a 3% lower offer ($128k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 3y 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.

Recommended offer $127,555 (3.0% below list)

Questions for the listing agent

1. It's been on market 53 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. 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?
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: 1.05% ✓
• Cap rate: 8.76%
• Cash-on-cash: 8.81%
• DSCR: 1.39
• GRM: 8.0

CMA / ARV

• ARV (median comp): $145,000
• List price: $131,500
• Delta: -9.31%
• Verdict: FAIR
• Comps: 5 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2802 S 5th Ave #19	0.13mi	3/2.0	1,352 (+1%)	0mo	$105,000	$78	83
2802 S 5th Ave #63	0.00mi	3/2.0	1,296 (-4%)	6mo	$145,000	$112	79
2802 S 5th Ave #10	0.00mi	3/2.0	1,352 (+1%)	15mo	$130,000	$96	76
2802 S 5th Ave #31	0.00mi	3/2.0	1,512 (+12%)	11mo	$110,000	$73	60
105 W Washington Ave #2	1.12mi	2/2.0 (-1)	1,152 (-14%)	1mo	$145,000	$126	25
105 W Washington Ave #23	1.12mi	2/2.0 (-1)	1,248 (-7%)	22mo	$63,000	$50	20
105 W Washington Ave #7	1.12mi	2/2.0 (-1)	1,134 (-16%)	11mo	$70,000	$62	16
105 W Washington Ave #52	1.12mi	2/2.0 (-1)	1,188 (-12%)	19mo	$45,000	$38	15

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -3.0%
• Equity multiple: 0.89×
• Total profit: $-4,122
• Equity at exit: $19,607

10-year hold

• IRR: 6.7%
• Equity multiple: 1.50×
• Total profit: $18,441
• Equity at exit: $11,370

Cash invested: $36,820 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 4 active · 1 under contract
• Months of supply: 12.0 mo (8%/mo absorbed)
• Median asking: $133,250 ($97/sqft)
• Median days on market: 88 d
• This list price: 50% of active listings are priced below it
• ARV vs active asking: +11.2% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 98903

• Home prices YoY: -21.8%
• Active inventory: 291
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $1,375 high
• Mortgage (P&I): −$690
• Tax from tax record: −$72 /mo · $859/yr
• Insurance: −$55
• HOA: −$0
• Lot rent leased land?: −$0
• Vacancy / Maint / Mgmt: −$289
• Net cashflow: $270

Break-even live

Break-even rent $1,033

Max offer price $131,500

Occupancy floor 75%

Sensitivity live

Price	-10% $345	-5% $308	+0% $270	+5% $233	+10% $196
Rent	-10% $162	-5% $216	+0% $270	+5% $325	+10% $379
Rate	-1.0pp $337	-0.5pp $304	base $270	+0.5pp $236	+1.0pp $202

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: $32,875
• Closing costs: $3,945
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2214 S 1st Ave Union Gap, WA	3.0	2.0	1200	$1,800	$1.50	0d	1	0.68mi
Samantha Ct Union Gap, WA	3.0	2.5	1437	$1,900	$1.32	116d	1	0.68mi
2212 S 1st Ave Unit 1-3 Union Gap, WA	3.0	2.0	1200	$1,800	$1.50	2d	1	0.69mi
1917 Landon Ave Union Gap, WA	3.0	2.0	1400	$2,100	$1.50	139d	1	1.03mi
809 W Washington Ave Yakima, WA	2.0	2.0	1264	$1,595	$1.26	109d	1	1.15mi
803 Spokane St Yakima, WA	2.0	1.0	1033	$1,650	$1.60	4d	1	1.26mi
1106 Spokane St Yakima, WA	3.0	1.0	1400	$1,795	$1.28	116d	1	1.30mi
1606 S 1st Ave Unit 1 Yakima, WA	2.0	1.0	911	$1,250	$1.37	109d	1	1.45mi

Property features AI

Exterior

• Parking: Off-street parking
• Utilities: Public waterSewer connected
• Home design: Manufactured homeSingle-storyResidential property
• Construction: Wood sidingComposition roofBuilt as manufactured housing
• Exterior features: Level lotShed(s)

Interior

• Kitchen: DishwasherMicrowaveRangeOvenRefrigeratorKitchen island
• Flooring: Carpet
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric forced-air heating
• Interior features: Kitchen islandDishwasherMicrowaveRange / OvenRefrigerator

Listing history 48 events

1. 2026-07-18
   days on market $131,500 Active 53 DOM
2. 2026-07-16
   days on market $131,500 Active 51 DOM
3. 2026-07-16
   pricedays on market $131,500 Active 50 DOM
4. 2026-07-14
   days on market $136,500 Active 49 DOM
5. 2026-07-13
   days on market $136,500 Active 48 DOM
6. 2026-07-12
   days on market $136,500 Active 47 DOM
7. 2026-07-11
   days on market $136,500 Active 46 DOM
8. 2026-07-10
   days on market $136,500 Active 45 DOM
9. 2026-07-09
   days on market $136,500 Active 44 DOM
10. 2026-07-08
    days on market $136,500 Active 43 DOM
11. 2026-07-07
    days on market $136,500 Active 42 DOM
12. 2026-07-06
    days on market $136,500 Active 41 DOM
13. 2026-07-05
    days on market $136,500 Active 40 DOM
14. 2026-07-04
    days on market $136,500 Active 39 DOM
15. 2026-07-03
    days on market $136,500 Active 38 DOM
16. 2026-07-02
    days on market $136,500 Active 37 DOM
17. 2026-07-01
    days on market $136,500 Active 36 DOM
18. 2026-06-30
    days on market $136,500 Active 35 DOM
19. 2026-06-29
    days on market $136,500 Active 34 DOM
20. 2026-06-28
    days on market $136,500 Active 33 DOM
21. 2026-06-28
    days on market $136,500 Active 32 DOM
22. 2026-06-27
    days on market $136,500 Active 31 DOM
23. 2026-06-25
    days on market $136,500 Active 29 DOM
24. 2026-06-23
    days on market $136,500 Active 27 DOM
25. 2026-06-21
    days on market $136,500 Active 26 DOM
26. 2026-06-19
    days on market $136,500 Active 24 DOM
27. 2026-06-18
    days on market $136,500 Active 23 DOM
28. 2026-06-17
    days on market $136,500 Active 22 DOM
29. 2026-06-16
    days on market $136,500 Active 21 DOM
30. 2026-06-15
    days on market $136,500 Active 20 DOM
31. 2026-06-14
    days on market $136,500 Active 18 DOM
32. 2026-06-13
    days on market $136,500 Active 17 DOM
33. 2026-06-10
    days on market $136,500 Active 15 DOM
34. 2026-06-09
    days on market $136,500 Active 14 DOM
35. 2026-06-08
    days on market $136,500 Active 13 DOM
36. 2026-06-07
    days on market $136,500 Active 12 DOM
37. 2026-06-03
    days on market $136,500 Active 8 DOM
38. 2026-06-02
    days on market $136,500 Active 7 DOM
39. 2026-06-01
    days on market $136,500 Active 6 DOM
40. 2026-05-31
    days on market $136,500 Active 5 DOM
41. 2026-05-30
    days on market $136,500 Active 4 DOM
42. 2026-05-26
    listed $136,500 Active
43. 2024-04-19
    status Active
44. 2024-02-21
    status Pending
45. 2024-01-25
    price $150,000
46. 2024-01-16
    listed $147,999 Active
47. 2023-11-30
    status Pending
48. 2023-10-05
    listed $147,999 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: $859 · $72/mo
• Projected year-2 tax: $1,289 · $107/mo
• Expected delta: +$429/yr (+$36/mo · 49.9%)

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

Taxation est. · year 1

• Rental income: $16,503
• − Mortgage interest: −$7,366
• − Property taxes: −$859
• − Insurance: −$658
• − Repairs & maintenance: −$1,320
• − Management: −$1,320
• − Depreciation: −$3,825
• Taxable income: $1,154
• Est. tax owed @ 24.0%: −$277
• After-tax cash flow: $2,968/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 · 12 photos

Good 80/100 Cosmetic rehab Est. rehab $6,720–$20,160 screening

This 2023 single-family home in Union Gap's Meadowlands Estates community is in excellent condition with modern updates and a clean, inviting interior. It's move-in ready with a good ROI potential for both resale and rental.

Value-add opportunities

• Both landscaping — enhances curb appeal and adds value ↑
• Both painting — refreshes interior and exterior ↑
• Both landscaping — enhances curb appeal and adds value ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

Zoned Schools

Elementary Union Gap School High Davis High School

Schools (NCES district)

• District: Union Gap School District
• NCES district ID: 5309150
• Math proficiency: 54% ▬ 0.00%
• Reading proficiency: 59% ▲ 4.00%
• Median HH income: $35,603
• Composite: 48.54/100
• National rank: #4614
• State rank: #105 of 291 in WA

C Composite livability gradescore 66/100

Livability — Union Gap

• Score: 66/100
• State rank: #315
• US rank: #11294

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Union Gap, WA
• County: Yakima · 256,514 people
• Metro: Yakima, WA
• Population (ZIP): 19,010
• Household income: $69,188
• Rent vs Own: 25.5% rent · 74.5% own
• Severe rent burden: 13% of renters

---

Population outlook (Yakima County) Hauer SSP2

• Today (2025): 256,514 people
• By 2030: 259,403 · +1.1%
• By 2040: 265,677 · +3.6%
• By 2050: 273,061 · +6.5%
• By 2075: 296,991 · +15.8%
• By 2100: 315,291 · +22.9%

---

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: White 49% Hispanic / Latino 42% Two or more races 19% Asian 3% Native American 3%
• Hispanic origin (detail): Mexican 38%
• Common ancestry: Italian 3% Portuguese 2% Lithuanian 1%
• Foreign-born: 15% · Canada, Vietnam
• Languages at home: 63% English-only · Spanish 33% Other Asian/Pacific 1% Other Indo-European 1%

---

Political lean MEDSL · Yakima

• 2024 margin: R (+14.3) · D 41.6% · R 55.9% · Other 2.5%
• 2008→2024 swing: -3.8pp toward R · 2008: -10.6pp · 2024: -14.3pp
• All cycles: 2024: R+14.3 2020: R+7.7 2016: R+15.4 2012: R+15.1 2008: R+10.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -83.90%
• Current HPI: 300.5753
• Rent YoY: —
• Metro: —
• 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

Property features AI

Exterior

• Parking: Off-street parking
• Utilities: Public waterSewer connected
• Home design: Manufactured homeSingle-storyResidential property
• Construction: Wood sidingComposition roofBuilt as manufactured housing
• Exterior features: Level lotShed(s)

Interior

• Kitchen: DishwasherMicrowaveRangeOvenRefrigeratorKitchen island
• Flooring: Carpet
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric forced-air heating
• Interior features: Kitchen islandDishwasherMicrowaveRange / OvenRefrigerator

Price history

-7.8% since first listed

7 events — show timeline

• 2026-05-26 Listed $136,500 YAMLS
• 2024-04-19 Relisted — YAMLS
• 2024-02-21 Pending — YAMLS
• 2024-01-25 Price Changed $150,000 YAMLS
• 2024-01-16 Listed $147,999 YAMLS
• 2023-11-30 Pending — YAMLS
• 2023-10-05 Listed $147,999 YAMLS

Property tax history

+10.0%/yr

Latest (2026): $859 · -7.6% YoY. Source: county tax records.