836 S Harmon Way #73 · Orting, WA 98360

$225,000

3 bd · 2.0 ba · 1,554 sqft · Manufactured public records · 30 Days on market

Built 1987

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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 +28.8/30.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +6.9/10.0
• Schools +4.5/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Mt. Rainier views from your kitchen, primary suite, and deck. This fully remodeled home in the 55+ community of Mountain View Estates is the kind of place that instantly feels like home. Move in ready and beautifully reimagined, this home has been updated top to bottom so you can simply move in and enjoy. Every detail has been refreshed with care including a new roof, siding, gutters, windows, flooring, interior/exterior paint, soft-close shaker cabinets, countertops, appliances, and more. The heart of the home is the kitchen with a farmhouse sink, abundant storage, and all new appliances. Just off the dining area, a cozy coffee bar space makes slow mornings feel intentional and special. Th

Key facts

• Fully remodeled home
• New siding
• Mt rainier views

Tags

• MT RAINIER VIEWS
• FULLY REMODELED HOME
• NEW ROOF
• NEW SIDING
• NEW GUTTERS
• NEW WINDOWS

Property features AI

Finance

• Other: Property type: Residential — Manufactured Home; Calculated building area: 1554; Green/energy efficient feature: Double pane windows
• Financial info: Listing terms: Cash or Conventional; Land lease: $1,395
• HOA & community: Land-lease park approved for sale; Park: Mountain View Estates; 96 homes in the park; Senior community

Exterior

• Parking: Carport; Uncovered parking
• Utilities: Electric energy source; Public water (see remarks); City of Orting water and sewer; Puget Sound Energy power; Comcast cable and internet
• Home design: Manufactured home (double wide); One story; Entry level: One; Style: Manuf-Double Wide; Make: SKYH, Model: 56/28; Mobile home remains
• Construction: Metal/vinyl construction; Composition roof; Concrete perimeter foundation with tie downs; Manufactured house
• Exterior features: Metal/vinyl exterior; Corner lot; Dead-end street; Paved; Has view

Interior

• Kitchen: Dishwasher; Refrigerator; Stove/Range
• Bedrooms: 3 bedrooms
• Flooring: Laminate
• Bathrooms: 1 full bath; 1 three-quarter bath; 1 bathtub; 2 showers
• Heating & cooling: Forced air heating; Heat pump; Forced air cooling; Heat pump cooling
• Interior features: Vaulted ceilings; Walk-in closet; Bath off primary; Landscaped; Patio/porch/deck; Double pane windows; Dining room; Entry; Kitchen with eating space; Living room; Utility room
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $225k.

Deal economics

• At list price, monthly cash flow is $758 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $225k).
• Recommended offer: $222k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.3% vs local median 2.8% in Orting — 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 74/100 on livability (#185 in WA, #4,905 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, employment A; Watch: commute F, cost of living F.
• Orting School District (suburban): math 40% / reading 56% proficiency, ranked #142 of 291 in WA (top 49%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 133 active listings in the ZIP; 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $63k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($222k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $221,625 (1.5% below list)

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: 1.19% ✓
• Cap rate: 10.34%
• Cash-on-cash: 14.44%
• DSCR: 1.64
• GRM: 7.0

CMA / ARV

• ARV (on-the-fly): $144,522
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
836 Harman Way S #26	0.00mi	3/2.0	1,560 (+0%)	7mo	$137,000	$88	93
836 Harman Way S #94	0.00mi	3/2.0	1,560 (+0%)	14mo	$108,000	$69	88
836 S Harman Way #4	0.00mi	2/2.0 (-1)	1,499 (-4%)	4mo	$139,000	$93	86
836 Harman Way S #34	0.00mi	2/2.0 (-1)	1,507 (-3%)	14mo	$128,900	$86	78
836 S Harman Way #93	0.00mi	2/2.0 (-1)	1,590 (+2%)	16mo	$169,500	$107	78
836 Harman Way S #63	0.00mi	2/2.0 (-1)	1,507 (-3%)	21mo	$137,500	$91	73
836 Harman Way S #45	0.00mi	3/2.0	1,709 (+10%)	20mo	$125,000	$73	67
836 Harman Way S #28	0.00mi	3/2.0	1,762 (+13%)	24mo	$135,000	$77	58
836 Harman Way S #27	0.00mi	2/2.0 (-1)	1,360 (-12%)	21mo	$165,000	$121	57
816 Maple Ln SW	0.29mi	2/2.0 (-1)	1,668 (+7%)	20mo	$439,950	$264	53
310 Oak St SW	0.28mi	3/2.0	1,737 (+12%)	18mo	$484,950	$279	52
314 Willow St SW	0.30mi	3/2.0	1,752 (+13%)	21mo	$460,000	$263	47

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: 4.8%
• Equity multiple: 1.19×
• Total profit: $11,732
• Equity at exit: $33,548

10-year hold

• IRR: 14.2%
• Equity multiple: 2.14×
• Total profit: $72,034
• 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 98360

• Home prices YoY: -34.8%
• Active inventory: 133
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $2,669 medium
• Mortgage (P&I): −$1,180
• Tax from tax record: −$77 /mo · $925/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$561
• Net cashflow: $758

Break-even live

Break-even rent $1,710

Max offer price $225,000

Occupancy floor 67%

Sensitivity live

Price	-10% $885	-5% $822	+0% $758	+5% $694	+10% $631
Rent	-10% $547	-5% $653	+0% $758	+5% $863	+10% $969
Rate	-1.0pp $871	-0.5pp $815	base $758	+0.5pp $700	+1.0pp $640

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: —

Listing history 15 events

1. 2026-06-18
   days on market $225,000 Active 30 DOM
2. 2026-06-17
   days on market $225,000 Active 29 DOM
3. 2026-06-16
   days on market $225,000 Active 28 DOM
4. 2026-06-15
   days on market $225,000 Active 27 DOM
5. 2026-06-13
   days on market $225,000 Active 25 DOM
6. 2026-06-13
   days on market $225,000 Active 24 DOM
7. 2026-06-09
   days on market $225,000 Active 21 DOM
8. 2026-06-08
   days on market $225,000 Active 20 DOM
9. 2026-06-07
   days on market $225,000 Active 19 DOM
10. 2026-06-04
    days on market $225,000 Active 16 DOM
11. 2026-06-03
    days on market $225,000 Active 15 DOM
12. 2026-06-02
    days on market $225,000 Active 14 DOM
13. 2026-06-01
    days on market $225,000 Active 13 DOM
14. 2026-05-31
    days on market $225,000 Active 12 DOM
15. 2026-05-19
    listed $225,000 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: $925 · $77/mo
• Projected year-2 tax: $2,205 · $184/mo
• Expected delta: +$1,280/yr (+$107/mo · 138.5%)

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

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (shaded) · 24% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 8 d/yr ≥87°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 7/10 Severe 9 unhealthy d/yr today · 10 by 30 yrs out

Taxation est. · year 1

• Rental income: $32,031
• − Mortgage interest: −$12,603
• − Property taxes: −$925
• − Insurance: −$1,125
• − Repairs & maintenance: −$2,562
• − Management: −$2,562
• − Depreciation: −$6,545
• Taxable income: $5,708
• Est. tax owed @ 24.0%: −$1,370
• After-tax cash flow: $7,726/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: Orting School District
• NCES district ID: 5306450
• Math proficiency: 40% ▬ 0.00%
• Reading proficiency: 56% ▬ 0.00%
• Median HH income: $72,768
• Composite: 45.37/100
• National rank: #5719
• State rank: #142 of 291 in WA

Livability — Orting

• Score: 74/100
• State rank: #185
• US rank: #4905

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Orting, WA
• Population (ZIP): 14,986

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 (81%)
• Race & ethnicity: White 81% Hispanic / Latino 9% Two or more races 9% Asian 1% Native American 1%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Portuguese 6% Italian 4% Slovak 3%
• Foreign-born: 4% · Canada
• Languages at home: 93% English-only · Spanish 5% German/W. Germanic 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: ▼ -155.26%
• Current HPI: 290.3575
• 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

Price history

1 event — show timeline

• 2026-05-19 Listed $225,000 NWMLS as Distributed by MLS Grid

Property tax history

+54.5%/yr

Latest (2026): $925 · +5.1% YoY. Source: county tax records.