159 136th St S #13 · Parkland, WA 98444

$49,999

1 bd · 1.0 ba · 460 sqft · Manufactured public records · 128 Days on market

Built 1960 ↓ 17% since listing

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Why this score? — see what drove the A- 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
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +3.9/10.0
• Livability +3.9/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0

Listing remarks

Updated single-wide manufactured home located in the Olga Dor Park, a 55+ community in the Parkland area of Tacoma. This home has received several recent updates, including a new roof, updated flooring, fresh interior and exterior paint, kitchen improvements, and newer plumbing. The home offers a covered carport and exterior storage with a washer and dryer for added convenience. The layout is functional and easy to maintain, making it ideal for buyers who value simplicity, comfort, and lower ongoing ownership costs. Monthly Park dues are $946 and include water, sewer, garbage, and electricity—helping keep monthly expenses straightforward. Conveniently located near restaurants, grocery

Key facts

• Kitchen improvements
• Covered carport
• Updated flooring

Tags

• NEW ROOF
• UPDATED FLOORING
• FRESH INTERIOR PAINT
• FRESH EXTERIOR PAINT
• KITCHEN IMPROVEMENTS
• COVERED CARPORT

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath manufactured listed at $50k.

Deal economics

• At list price, monthly cash flow is $648 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• Recommended offer: $44k (12.0% below list) — sets the bar for market timing.
• Cap rate 21.9% vs local median 2.3% in Parkland — 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 77/100 on livability (#148 in WA, #3,068 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, health & safety A+; Watch: amenities D+, crime F.
• Franklin Pierce School District (suburban): math 35% / reading 51% proficiency, ranked #197 of 291 in WA (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+2.9%/yr); 159 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 3,209 units permitted in Pierce County in 2024 (1,269 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($345 loan paydown + $5k appreciation (10.0% local appreciation)).
• Pierce County population projected at +26% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 2.9% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 128 days — a 12% lower offer ($44k) is reasonable based on typical stale-listing flexibility.

Recommended offer $43,999 (12.0% below list)

Questions for the listing agent

1. It's been on market 128 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1960 — 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 B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
6. 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?
7. 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.
8. 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.
9. 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: 2.41% ✓
• Cap rate: 21.86%
• Cash-on-cash: 55.58%
• DSCR: 3.47
• GRM: 3.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 2.93% rent growth · sell at horizon

5-year hold

• IRR: 68.3%
• Equity multiple: 5.89×
• Total profit: $68,439
• Equity at exit: $45,043

10-year hold

• IRR: 62.0%
• Equity multiple: 13.06×
• Total profit: $168,876
• Equity at exit: $97,137

Cash invested: $14,000 (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 98444

• Home prices YoY: 3.6%
• Rents YoY: 2.9%
• Active inventory: 159
• Price-to-rent: 3.5×

Monthly cashflow live

• Estimated rent: $1,204 medium
• Mortgage (P&I): −$262
• Tax from tax record: −$20 /mo · $238/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$253
• Net cashflow: $648

Break-even live

Break-even rent $383

Max offer price $49,999

Occupancy floor 41%

Sensitivity live

Price	-10% $677	-5% $663	+0% $648	+5% $634	+10% $620
Rent	-10% $553	-5% $601	+0% $648	+5% $696	+10% $744
Rate	-1.0pp $674	-0.5pp $661	base $648	+0.5pp $636	+1.0pp $622

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: $12,500
• Closing costs: $1,500
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
403 1/2 Garfield St S Tacoma, WA	—	1.0	300	$1,151	$3.84	0d	2	0.87mi

Listing history 17 events

1. 2026-06-21
   days on market $49,999 Active 128 DOM
2. 2026-06-18
   days on market $49,999 Active 125 DOM
3. 2026-06-17
   days on market $49,999 Active 124 DOM
4. 2026-06-16
   days on market $49,999 Active 123 DOM
5. 2026-06-15
   days on market $49,999 Active 122 DOM
6. 2026-06-13
   days on market $49,999 Active 120 DOM
7. 2026-06-13
   days on market $49,999 Active 119 DOM
8. 2026-06-09
   days on market $49,999 Active 116 DOM
9. 2026-06-08
   days on market $49,999 Active 115 DOM
10. 2026-06-07
    days on market $49,999 Active 114 DOM
11. 2026-06-04
    days on market $49,999 Active 111 DOM
12. 2026-06-03
    days on market $49,999 Active 110 DOM
13. 2026-06-02
    days on market $49,999 Active 109 DOM
14. 2026-06-01
    days on market $49,999 Active 108 DOM
15. 2026-05-31
    days on market $49,999 Active 107 DOM
16. 2026-04-28
    price $49,999
17. 2026-02-13
    listed $59,950 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: $238 · $20/mo
• Projected year-2 tax: $490 · $41/mo
• Expected delta: +$252/yr (+$21/mo · 105.7%)

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

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 20% 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 9 unhealthy d/yr today · 10 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,451
• − Mortgage interest: −$2,801
• − Property taxes: −$238
• − Insurance: −$250
• − Repairs & maintenance: −$1,156
• − Management: −$1,156
• − Depreciation: −$1,455
• Taxable income: $7,395
• Est. tax owed @ 24.0%: −$1,775
• After-tax cash flow: $6,007/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: Franklin Pierce School District
• NCES district ID: 5302940
• Math proficiency: 35% ▬ 0.00%
• Reading proficiency: 51% ▲ 2.00%
• Median HH income: $49,240
• Composite: 39.18/100
• National rank: #8227
• State rank: #197 of 291 in WA

Livability — Parkland

• Score: 77/100
• State rank: #148
• US rank: #3068

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Parkland, WA
• County: Pierce County · 788,257 people
• City population: 36,624
• Metro: Seattle-Tacoma-Bellevue, WA
• Population (ZIP): 35,754
• Household income: $65,342
• Rent vs Own: 56.0% rent · 44.0% own
• Severe rent burden: 2169.0

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: Highly diverse neighborhood (Simpson 0.77)
• Race & ethnicity: White 40% Hispanic / Latino 19% Two or more races 17% Black 16% Asian 11% Pacific Islander 4% Native American 1%
• Hispanic origin (detail): Mexican 13% Puerto Rican 1%
• Common ancestry: Portuguese 3% Scotch-Irish 2% Swedish 1%
• Foreign-born: 21% · Canada, South Korea, Vietnam
• Languages at home: 68% English-only · Spanish 13% Other Asian/Pacific 6% Korean 3%

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: ▲ 45.01%
• Current HPI: 1297.51
• Rent YoY: ▲ 2.93%
• 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

-16.6% since first listed

2 events — show timeline

• 2026-04-28 Price Changed $49,999 NWMLS as Distributed by MLS Grid
• 2026-02-13 Listed $59,950 NWMLS as Distributed by MLS Grid

Property tax history

+19.2%/yr

Latest (2026): $238 · +17.4% YoY. Source: county tax records.