19318 99th Avenue Ct E #5 · South Hill, WA 98338

$79,950

2 bd · 2.0 ba · 924 sqft · Manufactured public records · 95 Days on market

Built 1995 Est $105k · 24% 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.9/10.0
• Livability +4.0/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

UPDATED! MORDERN STYLE! MOVE IN READY! WARM/COZY home has 2 bedroom, 1.75 Bath, 2 Car Carport, located in wonderful Meridian Terrace 55+ Community. New Paint Exterior/Interior, New Laminate Floor (water proof) Kitchen update with Paint Cabinets and Beautiful Countertop in kitchen and Vanities. New Shower with Sliding Glass Door, Nice lot, big back yard and located at quite dead end Street. Home is set ready for Generator Electric, Closed to Shopping and all other services.

Key facts

• New paint exterior
• Kitchen update
• Beautiful countertop

Tags

• NEW PAINT EXTERIOR
• NEW LAMINATE FLOOR
• KITCHEN UPDATE
• BEAUTIFUL COUNTERTOP
• NEW SHOWER
• SLIDING GLASS DOOR

Property features AI

Finance

• Other: Calculated building area: 980 (source: title)
• Financial info: Land lease: $980/month; Acceptable financing: Cash, Conventional
• HOA & community: Senior community; Manufactured home park with common area; Park approved for sale

Exterior

• Parking: Details not provided
• Security: Details not provided
• Utilities: Electric service
• Home design: Manufactured home (single wide); One story; Entry-level tie down foundation
• Construction: Wood construction; Composition roof; Manufactured house
• Exterior features: Wood exterior; Patio/Porch/Deck

Interior

• Kitchen: Dishwasher; Refrigerator; Stove/Range
• Bedrooms: 2 bedrooms
• Flooring: Laminate
• Bathrooms: 1 full bath; 1 three-quarter bath
• Heating & cooling: Ductless heating; Forced air heating; Cooling (type not specified)
• Interior features: Ceiling fans; Double pane windows; Patio/Porch/Deck; Tie down foundation
• Laundry & utility: Washer; Dryer; 1 storage space

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $80k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $80k).
• Recommended offer: $73k (9.0% below list) — sets the bar for market timing.
• Cap rate 24.0% vs local median 3.0% in South Hill — 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 80/100 on livability (#84 in WA, #1,620 nationally) — a professional / high-income tenant draw. Strengths: employment A+, housing A+, health & safety A+; Watch: crime C-, schools D+, cost of living 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 (+3.3%/yr); 232 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); 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 $552 of loan paydown is wiped out by about $2k 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 + 3.3% rent growth), your $22k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 95 days — a 9% lower offer ($73k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 10y ago; this cycle's ask has dropped $15k (16%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $42k; list at $80k implies a 93% gain — meaningful room to come down on a strong offer.

Recommended offer $72,754 (9.0% below list)

Questions for the listing agent

1. It's been on market 95 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 2.69% ✓
• Cap rate: 24.03%
• Cash-on-cash: 63.36%
• DSCR: 3.82
• GRM: 3.1

CMA / ARV

• ARV (on-the-fly): $105,336
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
19316 99th Avenue Ct E	0.04mi	2/2.0	1,012 (+10%)	23mo	$115,000	$114	63

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: 62.7%
• Equity multiple: 3.82×
• Total profit: $63,028
• Equity at exit: $11,921

10-year hold

• IRR: 67.3%
• Equity multiple: 7.91×
• Total profit: $154,735
• Equity at exit: $6,913

Cash invested: $22,386 (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: 232
• Price-to-rent: 3.1×

Monthly cashflow live

• Estimated rent: $2,153 high
• Mortgage (P&I): −$419
• Tax from tax record: −$66 /mo · $798/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$452
• Net cashflow: $1,182

Break-even live

Break-even rent $657

Max offer price $79,950

Occupancy floor 40%

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: $19,988
• Closing costs: $2,398
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10234 194th St E Graham, WA	2.0	1.0–2.5	1231	$2,252	$1.83	1d	17	0.29mi
10007 186th St E #234 Puyallup, WA	2.0	2.0	1019	$2,300	$2.26	2d	1	0.43mi
18527 101st Ave Ct E Puyallup, WA	2.0	2.0	1026	$1,600	$1.56	43d	1	0.48mi
10423 Rainier Ridge Blvd E Puyallup, WA	1.0–3.0	1.0–2.0	1035	$2,506	$2.42	1d	27	0.65mi
9202 176th St E Puyallup, WA	1.0–2.0	1.0–2.0	824	$1,960	$2.38	1d	7	1.05mi
17516 93rd Avenue Ct E Puyallup, WA	1.0	1.0	917	$900	$0.98	43d	1	1.16mi
17718 85th Avenue Ct E Unit 17718-C Puyallup, WA	2.0	1.5	916	$1,525	$1.66	21d	1	1.27mi

Listing history 29 events

1. 2026-06-18
   days on market $79,950 Active 95 DOM
2. 2026-06-17
   days on market $79,950 Active 94 DOM
3. 2026-06-16
   days on market $79,950 Active 93 DOM
4. 2026-06-15
   pricedays on market $79,950 Active 92 DOM
5. 2026-06-13
   days on market $89,950 Active 90 DOM
6. 2026-06-13
   days on market $89,950 Active 89 DOM
7. 2026-06-09
   days on market $89,950 Active 86 DOM
8. 2026-06-08
   days on market $89,950 Active 85 DOM
9. 2026-06-07
   days on market $89,950 Active 84 DOM
10. 2026-06-04
    days on market $89,950 Active 81 DOM
11. 2026-06-03
    days on market $89,950 Active 80 DOM
12. 2026-06-02
    days on market $89,950 Active 79 DOM
13. 2026-06-01
    days on market $89,950 Active 78 DOM
14. 2026-05-31
    days on market $89,950 Active 77 DOM
15. 2026-05-24
    price $89,950
16. 2026-03-15
    listed $94,950 Active
17. 2020-05-13
    soldstatus $41,500 Sold
18. 2020-04-19
    status Pending
19. 2020-03-10
    listed $43,500 Active
20. 2016-09-16
    historical
21. 2016-09-13
    soldstatus $28,000 Sold
22. 2016-08-31
    status Pending
23. 2016-08-13
    status Pending Inspection
24. 2016-08-05
    status Active
25. 2016-08-04
    status Pending Inspection
26. 2016-07-13
    price $28,000
27. 2016-07-11
    status Active
28. 2016-06-09
    status Pending Inspection
29. 2016-05-11
    listed $32,500 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: $798 · $66/mo
• Projected year-2 tax: $798 · $66/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Taxation est. · year 1

• Rental income: $25,837
• − Mortgage interest: −$4,478
• − Property taxes: −$798
• − Insurance: −$400
• − Repairs & maintenance: −$2,067
• − Management: −$2,067
• − Depreciation: −$2,326
• Taxable income: $13,702
• Est. tax owed @ 24.0%: −$3,288
• After-tax cash flow: $10,894/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 — South Hill

• Score: 80/100
• State rank: #84
• US rank: #1620

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: South Hill, WA
• County: Pierce County · 788,257 people
• City population: 76,707
• 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

+176.8% since first listed

15 events — show timeline

• 2026-05-24 Price Changed $89,950 NWMLS as Distributed by MLS Grid
• 2026-03-15 Listed $94,950 NWMLS as Distributed by MLS Grid
• 2020-05-13 Sold (MLS) $41,500 NWMLS as Distributed by MLS Grid
• 2020-04-19 Pending — NWMLS as Distributed by MLS Grid
• 2020-03-10 Listed $43,500 NWMLS as Distributed by MLS Grid
• 2016-09-16 Delisted — NWMLS as Distributed by MLS Grid
• 2016-09-13 Sold (MLS) $28,000 NWMLS as Distributed by MLS Grid
• 2016-08-31 Pending — NWMLS as Distributed by MLS Grid
• 2016-08-13 Pending — NWMLS as Distributed by MLS Grid
• 2016-08-05 Relisted — NWMLS as Distributed by MLS Grid
• 2016-08-04 Pending — NWMLS as Distributed by MLS Grid
• 2016-07-13 Price Changed $28,000 NWMLS as Distributed by MLS Grid
• 2016-07-11 Relisted — NWMLS as Distributed by MLS Grid
• 2016-06-09 Pending — NWMLS as Distributed by MLS Grid
• 2016-05-11 Listed $32,500 NWMLS as Distributed by MLS Grid

Property tax history

+47.7%/yr

Latest (2026): $798 · +13560.1% YoY. Source: county tax records.