5303 90th St E #1 · Summit, WA 98446

$105,000

2 bd · 2.0 ba · 1,579 sqft · Manufactured public records · 30 Days on market

Built 1979 $66/sqft · 59% below area

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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 +3.9/10.0
• Rent growth +3.8/5.0
• Livability +3.3/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Enjoy comfortable easy living in this doublewide manufactured home located in a quiet Summit area park. The enclosed covered porch offers additional useable space and connects seamlessly with a slider leading to the main living area with vaulted ceilings and a cozy wood burning fireplace and central A/C! New roof installed 2021. The large primary suite provides a generous walk-in closet and nicely remodeled bathroom featuring a clawfoot soaking tub and separate shower. Large second bedroom also attached to updated full bath! Large functional utility room with w/ d included leads to the back deck and fenced yard! Great layout! Don't miss this opportunity for this affordable low maintenanc

Key facts

• Clawfoot soaking tub
• Walk-in closet
• Separate shower

Tags

• ENCLOSED COVERED PORCH
• WOOD BURNING FIREPLACE
• NEW ROOF INSTALLED
• WALK-IN CLOSET
• CLAWFOOT SOAKING TUB
• SEPARATE SHOWER

Property features AI

Finance

• Other: Property type: Residential (Manufactured Home); Style: Manuf-Double Wide; Structure type: Manufactured house; Calculated building area: 1579; Levels: One
• Financial info: Cash offers only
• HOA & community: Canyon Heights park (77 homes); Park approved for sale; Senior exemption available; Land lease: $785

Exterior

• Parking: Carport
• Utilities: Electric energy source; Public water (Guardian); Sewer service (Guardian); Power by Tacoma Public Utilities; Electric water heater located on deck; Internet: Xfinity
• Home design: Manufactured double-wide home; One level; Average condition; Manufactured after 6/15/1976; Mobile home remains; Lancr make; Entry with vaulted ceilings
• Construction: Wood construction; Composition roof; Tie-down foundation
• Exterior features: Wood exterior; Paved lot; Patio/porch/deck

Interior

• Kitchen: Dishwasher; Stove/Range; Refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Vinyl plank; Carpet
• Bathrooms: 2 full bathrooms; 2 bathtubs; 2 showers
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Water heater; Wet bar; Vaulted ceilings; Double pane windows; Patio/porch/deck
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $105k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $105k).
• Recommended offer: $103k (1.5% below list) — sets the bar for market timing.
• Cap rate 17.9% vs local median 2.5% in Summit — 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 (#318 in WA) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, employment A; Watch: schools D-, amenities F, commute 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 fast (+5.2%/yr); 116 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 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 $726 of loan paydown is wiped out by about $3k 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 + 5.2% rent growth), your $29k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($103k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 5y 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 $70k; list at $105k implies a 50% gain — meaningful room to come down on a strong offer.

Recommended offer $103,425 (1.5% below list)

Questions for the listing agent

1. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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.
5. 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.
6. 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: 2.08% ✓
• Cap rate: 17.95%
• Cash-on-cash: 41.62%
• DSCR: 2.85
• GRM: 4.0

CMA / ARV

• ARV (median comp): $257,500
• List price: $105,000
• Delta: -59.22%
• Verdict: UNDERPRICED
• Comps: 17 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5902 89th Street Ct E #11	0.36mi	2/2.0	1,596 (+1%)	1mo	$289,000	$181	80
9314 Canyon Rd E #82	0.22mi	2/2.0	1,526 (-3%)	5mo	$100,000	$66	80
9314 Canyon Rd E #39	0.22mi	3/2.0 (+1)	1,504 (-5%)	3mo	$168,000	$112	75
9314 Canyon Rd E #85	0.22mi	3/2.0 (+1)	1,460 (-8%)	0mo	$119,000	$82	72
5115 88th Street Ct E #29	0.15mi	2/2.0	1,436 (-9%)	9mo	$129,950	$90	70
6022 89th Street Ct E #20	0.47mi	3/2.0 (+1)	1,528 (-3%)	2mo	$257,500	$169	66
6011 89th St E #59	0.42mi	2/2.0	1,692 (+7%)	4mo	$280,000	$165	66
5801 89th Street Ct E #5	0.30mi	3/2.0 (+1)	1,496 (-5%)	10mo	$151,000	$101	63
6012 91st Street Ct E	0.47mi	3/2.0 (+1)	1,599 (+1%)	10mo	$309,000	$193	63
5916 89th Street Ct E #14	0.40mi	2/2.0	1,712 (+8%)	10mo	$350,100	$204	59
6124 91ST St E #148	0.53mi	3/2.0 (+1)	1,716 (+9%)	6mo	$310,000	$181	51
6009 90th Street Ct E #107	0.45mi	3/2.0 (+1)	1,771 (+12%)	7mo	$320,000	$181	48

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 · 5.17% rent growth · sell at horizon

5-year hold

• IRR: 40.7%
• Equity multiple: 2.80×
• Total profit: $52,834
• Equity at exit: $15,656

10-year hold

• IRR: 48.0%
• Equity multiple: 6.12×
• Total profit: $150,664
• Equity at exit: $9,078

Cash invested: $29,400 (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 98446

• Rents YoY: 5.2%
• Active inventory: 116
• Price-to-rent: 4.0×

Monthly cashflow live

• Estimated rent: $2,188 high
• Mortgage (P&I): −$551
• Tax from tax record: −$114 /mo · $1,372/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$459
• Net cashflow: $1,020

Break-even live

Break-even rent $897

Max offer price $105,000

Occupancy floor 48%

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: $26,250
• Closing costs: $3,150
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2506 103rd St E Puyallup, WA	2.0	1.0	1025	$1,877	$1.83	4d	3	0.93mi
5923 111th Street Ct E Puyallup, WA	3.0	2.5	1364	$2,600	$1.91	1d	1	1.44mi
5909 111th Street Ct E Puyallup, WA	3.0	2.5	1356	$2,395	$1.77	15d	1	1.47mi
6115 111th St E Puyallup, WA	1.0–3.0	1.0–2.0	911	$1,995	$2.19	1d	16	1.47mi
9604 S Fruitland Unit 7502 Puyallup, WA	2.0	2.0	1492	$2,500	$1.68	1d	1	1.47mi
5617 112th St E Puyallup, WA	1.0–3.0	1.0–2.0	947	$1,880	$1.99	11d	17	1.49mi

Listing history 21 events

1. 2026-06-18
   days on market $105,000 Active 30 DOM
2. 2026-06-17
   days on market $105,000 Active 29 DOM
3. 2026-06-16
   days on market $105,000 Active 28 DOM
4. 2026-06-15
   days on market $105,000 Active 27 DOM
5. 2026-06-13
   days on market $105,000 Active 25 DOM
6. 2026-06-13
   days on market $105,000 Active 24 DOM
7. 2026-06-09
   days on market $105,000 Active 21 DOM
8. 2026-06-08
   days on market $105,000 Active 20 DOM
9. 2026-06-07
   pricedays on market $105,000 Active 19 DOM
10. 2026-06-04
    days on market $110,000 Active 16 DOM
11. 2026-06-03
    days on market $110,000 Active 15 DOM
12. 2026-06-02
    days on market $110,000 Active 14 DOM
13. 2026-06-01
    days on market $110,000 Active 13 DOM
14. 2026-05-31
    days on market $110,000 Active 12 DOM
15. 2026-05-17
    status Pending
16. 2026-05-14
    listed $110,000 Active
17. 2021-09-22
    soldstatus $70,000 Closed
18. 2021-09-04
    status Pending
19. 2021-08-31
    price $70,000
20. 2021-08-26
    price $80,000
21. 2021-08-20
    listed $90,000 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: $1,372 · $114/mo
• Projected year-2 tax: $1,372 · $114/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 7/10 Severe 10 unhealthy d/yr today · 12 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,255
• − Mortgage interest: −$5,882
• − Property taxes: −$1,372
• − Insurance: −$525
• − Repairs & maintenance: −$2,100
• − Management: −$2,100
• − Depreciation: −$3,055
• Taxable income: $11,221
• Est. tax owed @ 24.0%: −$2,693
• After-tax cash flow: $9,544/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 — Summit

• Score: 66/100
• State rank: #318
• US rank: #11661

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Summit, WA
• County: Pierce County · 788,257 people
• Metro: Seattle-Tacoma-Bellevue, WA
• Population (ZIP): 14,634
• Household income: $101,938
• Rent vs Own: 33.2% rent · 66.8% own
• Severe rent burden: 246.0

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 0.59)
• Race & ethnicity: White 61% Two or more races 17% Hispanic / Latino 17% Black 6% Asian 4% Pacific Islander 3% Native American 2%
• Hispanic origin (detail): Mexican 11% Puerto Rican 1%
• Common ancestry: Portuguese 4% Serbian 3% Italian 3%
• Foreign-born: 7% · Canada, South Korea
• Languages at home: 80% English-only · Spanish 11% Other Asian/Pacific 3% Russian/Polish/Slavic 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: ▼ -562.34%
• Current HPI: 322.6286
• Rent YoY: ▲ 5.17%
• 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

+16.7% since first listed

9 events — show timeline

• 2026-06-05 Price Changed $105,000 NWMLS as Distributed by MLS Grid
• 2026-05-23 Relisted — NWMLS as Distributed by MLS Grid
• 2026-05-17 Pending — NWMLS as Distributed by MLS Grid
• 2026-05-14 Listed $110,000 NWMLS as Distributed by MLS Grid
• 2021-09-22 Sold (MLS) $70,000 NWMLS as Distributed by MLS Grid
• 2021-09-04 Pending — NWMLS as Distributed by MLS Grid
• 2021-08-31 Price Changed $70,000 NWMLS as Distributed by MLS Grid
• 2021-08-26 Price Changed $80,000 NWMLS as Distributed by MLS Grid
• 2021-08-20 Listed $90,000 NWMLS as Distributed by MLS Grid

Property tax history

+9.4%/yr

Latest (2026): $1,372 · +12.7% YoY. Source: county tax records.