11306 125th Street Ct E #89 · South Hill, WA 98374

$80,950

3 bd · 2.0 ba · 1,464 sqft · Manufactured public records · 84 Days on market

Built 1975 $55/sqft · at area comps Est $79k · at est.

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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 +6.3/15.0
• Schools +5.4/10.0
• Livability +4.0/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to easy, comfortable living in Sans Souci, a desirable 55+ community known for its friendly atmosphere and convenient lifestyle. This refreshed 3-bedroom, 2-bath home is truly move-in ready with thoughtful updates throughout. Inside, you’ll find fresh interior paint and brand-new flooring that create a clean, modern feel. The spacious layout includes a warm and inviting living room with a cozy fireplace—perfect for relaxing evenings. Key upgrades include a newer membrane roof, newer heat pump, and some updated windows for added comfort and efficiency. Additional updates throughout the home enhance both style and livability. The primary suite offers a private retreat, whi

Key facts

• 2 parking spots
• Community pool
• Built 1975

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $81k.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $81k).
• Recommended offer: $76k (6.0% below list) — sets the bar for market timing.
• Cap rate 27.7% 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.
• Puyallup School District (suburban): math 53% / reading 66% proficiency, ranked #52 of 291 in WA (top 18%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+1.7%/yr); 440 active listings in the ZIP; 27 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 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 $560 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 + 1.7% rent growth), your $23k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 84 days — a 6% lower offer ($76k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 23y 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 $14k; list at $81k implies a 478% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $76,093 (6.0% below list)

Questions for the listing agent

1. It's been on market 84 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 3.13% ✓
• Cap rate: 27.67%
• Cash-on-cash: 76.34%
• DSCR: 4.40
• GRM: 2.7

CMA / ARV

• ARV (median comp): $78,890
• List price: $80,950
• Delta: 2.61%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
12615 113th St E #249	0.07mi	3/2.0	1,464 (0%)	8mo	$116,950	$80	90
11325 126th St E #229	0.02mi	2/2.0 (-1)	1,456 (-0%)	5mo	$139,900	$96	90
11301 126th St E #241	0.04mi	2/2.0 (-1)	1,425 (-3%)	1mo	$60,000	$42	88
11401 125th Street Ct E #218	0.07mi	3/2.0	1,404 (-4%)	8mo	$139,950	$100	83
11418 127th St E #189	0.11mi	3/2.0	1,542 (+5%)	4mo	$150,000	$97	83
11303 127th Street Ct E #164	0.12mi	2/2.0 (-1)	1,560 (+7%)	2mo	$144,950	$93	77
12602 112th Ave E #33	0.08mi	3/2.0	1,339 (-8%)	9mo	$66,500	$50	75
11415 127th St E #186	0.09mi	2/2.0 (-1)	1,339 (-8%)	3mo	$80,000	$60	74
11429 124th Street Ct E #121	0.10mi	2/2.0 (-1)	1,244 (-15%)	8mo	$115,000	$92	58
12314 124th St E #17	0.67mi	2/2.0 (-1)	1,507 (+3%)	1mo	$150,000	$100	58
12227 123rd St Ct E #45	0.62mi	2/2.0 (-1)	1,500 (+2%)	9mo	$100,000	$67	54
12504 123rd St E #54	0.75mi	2/2.0 (-1)	1,440 (-2%)	7mo	$103,000	$72	52

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 · 1.72% rent growth · sell at horizon

5-year hold

• IRR: 71.1%
• Equity multiple: 4.15×
• Total profit: $71,349
• Equity at exit: $12,070

10-year hold

• IRR: 74.6%
• Equity multiple: 8.16×
• Total profit: $162,377
• Equity at exit: $6,999

Cash invested: $22,666 (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 98374

• Rents YoY: 1.7%
• Active inventory: 440
• Price-to-rent: 2.7×

Monthly cashflow live

• Estimated rent: $2,533 high
• Mortgage (P&I): −$425
• Tax est. 1.5%: −$101 /mo · $1,214/yr
• Insurance: −$34
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$532
• Net cashflow: $1,376

Break-even live

Break-even rent $792

Max offer price $80,950

Occupancy floor 41%

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: $20,238
• Closing costs: $2,428
• Reserves months: —
• Total cash needed: —

Rent comps 27 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12202 107th Avenue Ct E Puyallup, WA	4.0	1.5	1248	$3,000	$2.40	44d	1	0.45mi
12202 107th Avenue Ct E Puyallup, WA	4.0	1.5	1248	$2,850	$2.28	4d	1	0.45mi
10614 123rd Street Ct E Puyallup, WA	3.0	1.5	1584	$2,500	$1.58	44d	1	0.46mi
12006 108th Avenue Ct E Puyallup, WA	3.0	1.0	1000	$2,000	$2.00	3d	1	0.48mi
12724 104th Avenue Ct E Puyallup, WA	1.0–3.0	1.0–2.0	910	$2,345	$2.58	5d	8	0.55mi
12317 121st Avenue Ct E Puyallup, WA	2.0	2.0	1034	$2,400	$2.32	2d	1	0.56mi
12317 121st Avenue Ct E Puyallup, WA	2.0	2.0	1034	$2,400	$2.32	17d	1	0.56mi
12117 122nd Ave E Puyallup, WA	3.0	2.5	1549	$2,975	$1.92	2d	1	0.61mi
12111 104th Ave E Puyallup, WA	1.0–3.0	1.0–2.0	902	$1,867	$2.07	5d	1	0.65mi
13404 106th Ave E Puyallup, WA	3.0	2.0	1404	$2,650	$1.89	24d	1	0.66mi
502 43rd Ave SE Puyallup, WA	2.0	2.0	1100	$2,810	$2.55	4d	1	0.67mi
13011 Meridian E Puyallup, WA	1.0–3.0	1.0–2.0	942	$2,350	$2.49	2d	19	0.69mi
13523 106th Ave E Puyallup, WA	3.0	2.0	1404	$2,650	$1.89	24d	1	0.76mi
12123 125th Avenue Ct E Puyallup, WA	2.0	2.0	1110	$2,100	$1.89	44d	1	0.83mi
9911 132nd Street Ct E Puyallup, WA	2.0	1.0	940	$1,745	$1.86	44d	2	0.91mi
9910 132nd Street Ct E Unit 9911-C Puyallup, WA	2.0	1.0	940	$1,375	$1.46	24d	1	0.92mi
12437 129th Ave E Puyallup, WA	2.0	1.5	1818	$2,400	$1.32	10d	1	0.97mi
13507 99th Ave E Puyallup, WA	1.0–2.0	1.0–2.5	994	$2,237	$2.25	2d	15	1.03mi
10511 140th Street Ct E #27 Puyallup, WA	3.0	3.0	1311	$2,650	$2.02	24d	1	1.03mi
9710 131st Street Ct E Unit A Puyallup, WA	2.0	2.0	1045	$2,150	$2.06	18d	1	1.06mi
10414 140th St Ct E Puyallup, WA	4.0	2.5	1407	$2,595	$1.84	2d	1	1.08mi
13405 97th Ave E #308 Puyallup, WA	3.0	2.0	1085	$2,095	$1.93	44d	1	1.09mi
13404 97th Ave E South Hill, WA	1.0–3.0	1.0–2.0	958	$2,155	$2.25	44d	3	1.14mi
11013 144th Street Ct E Unit O24-6-B Puyallup, WA	3.0	1.5	1400	$2,450	$1.75	44d	1	1.17mi
608 39th Ave SW Puyallup, WA	1.0–2.0	1.0	891	$1,890	$2.12	3d	6	1.28mi
4114 7th St SW Puyallup, WA	1.0–2.0	1.0	900	$1,600	$1.78	3d	4	1.34mi
9021 128th St E Puyallup, WA	2.0	1.0	952	$2,175	$2.28	44d	1	1.43mi

Listing history 17 events

1. 2026-06-18
   days on market $80,950 Active 84 DOM
2. 2026-06-17
   days on market $80,950 Active 83 DOM
3. 2026-06-16
   days on market $80,950 Active 82 DOM
4. 2026-06-15
   days on market $80,950 Active 81 DOM
5. 2026-06-13
   days on market $80,950 Active 79 DOM
6. 2026-06-13
   days on market $80,950 Active 78 DOM
7. 2026-06-09
   days on market $80,950 Active 75 DOM
8. 2026-06-08
   days on market $80,950 Active 74 DOM
9. 2026-06-07
   days on market $80,950 Active 73 DOM
10. 2026-06-04
    days on market $80,950 Active 70 DOM
11. 2026-06-03
    days on market $80,950 Active 69 DOM
12. 2026-06-02
    days on market $80,950 Active 68 DOM
13. 2026-06-01
    days on market $80,950 Active 67 DOM
14. 2026-05-31
    days on market $80,950 Active 66 DOM
15. 2026-03-26
    listed $80,950 Active
16. 2004-01-26
    soldstatus $14,000
17. 2003-11-17
    listed $16,500

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (unshaded) · 76% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥87°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 7/10 Severe 10 unhealthy d/yr today · 10 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,402
• − Mortgage interest: −$4,534
• − Property taxes: −$1,214
• − Insurance: −$1,202
• − Repairs & maintenance: −$2,432
• − Management: −$2,432
• − Depreciation: −$2,355
• Taxable income: $16,231
• Est. tax owed @ 24.0%: −$3,896
• After-tax cash flow: $12,611/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: Puyallup School District
• NCES district ID: 5306960
• Math proficiency: 53% ▬ 0.00%
• Reading proficiency: 66% ▬ 0.00%
• Median HH income: $68,291
• Composite: 54.01/100
• National rank: #3006
• State rank: #52 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): 49,007
• Household income: $112,662
• Rent vs Own: 29.5% rent · 70.5% own
• Severe rent burden: 1171.0

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 0.56)
• Race & ethnicity: White 64% Two or more races 16% Hispanic / Latino 13% Asian 7% Black 4% Native American 1% Pacific Islander 1%
• Hispanic origin (detail): Mexican 9% Puerto Rican 2%
• Common ancestry: Portuguese 6% Italian 3% Slovak 2%
• Foreign-born: 11% · Canada, South Korea, Vietnam
• Languages at home: 86% English-only · Spanish 7% Other Asian/Pacific 2% Other Indo-European 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: ▼ -431.48%
• Current HPI: 286.6617
• Rent YoY: ▲ 1.72%
• 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

+390.6% since first listed

3 events — show timeline

• 2026-03-26 Listed $80,950 NWMLS as Distributed by MLS Grid
• 2004-01-26 Sold (MLS) $14,000 NWMLS as Distributed by MLS Grid
• 2003-11-17 Listed $16,500 NWMLS as Distributed by MLS Grid

Property tax history

-3.1%/yr

Latest (2026): $140 · +22.5% YoY. Source: county tax records.