10720 60th Street Ct E #145 · North Puyallup, WA 98372

$35,000

2 bd · 2.0 ba · 966 sqft · Manufactured public records · 63 Days on market

Built 1998 $36/sqft · 56% below area ↓ 15% since listing

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Why this score? — see what drove the D+ 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 +15.0/30.0
• ARV discount +7.5/15.0
• Schools +5.4/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +4.2/5.0
• Rent growth +3.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Well loved, turn key home in Golden Rose 55+ community. Featuring a functional layout that makes this 966 sq ft home feel larger, this home includes a spacious living room and open concept kitchen with plenty of cabinet space. One level, easy living was thoughtfully designed with two spacious bedrooms, 2 full bathrooms, abundant windows, A/C and open living areas. The primary bedroom has an ensuite bathroom with soaking tub and separate shower and nice sized walk-in closet. The storage room off the carport is ideal for hobbies or extra belongings. Leave your car in the attached carport & wander your park-like neighborhood. Nestled just down the street from the community's waterfront

Key facts

• Open concept kitchen
• Abundant windows
• Soaking tub

Tags

• TURN KEY HOME
• FUNCTIONAL LAYOUT
• OPEN CONCEPT KITCHEN
• ABUNDANT WINDOWS
• ENSUITE BATHROOM
• SOAKING TUB

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $35k.

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 $35k).
• Recommended offer: $33k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 85/100 on livability (#25 in WA, #468 nationally) — a professional / high-income tenant draw. Strengths: crime A+, amenities A+, housing A+; Watch: employment C-.
• 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 fast (+4.5%/yr); 167 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 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 $242 of loan paydown is wiped out by about $1k 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 + 4.5% rent growth), your $10k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 63 days — a 6% lower offer ($33k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

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

Recommended offer $32,900 (6.0% below list)

Questions for the listing agent

1. It's been on market 63 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
6. 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.
7. 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.
8. 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: 5.29% ✓
• Cap rate: 48.11%
• Cash-on-cash: 149.33%
• DSCR: 7.64
• GRM: 1.6

CMA / ARV

• ARV (median comp): $78,873
• List price: $35,000
• Delta: -55.62%
• Verdict: UNDERPRICED
• Comps: 16 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
10522 60th Street Ct E	0.09mi	2/2.0	1,056 (+9%)	3mo	$84,950	$80	78
10713 61st St E Unit 108A	0.03mi	2/1.0	920 (-5%)	12mo	$95,000	$103	76
10601 61st St E #117	0.06mi	3/2.0 (+1)	924 (-4%)	12mo	$60,000	$65	75
10805 62nd Street Ct E #3	0.09mi	2/2.0	1,060 (+10%)	8mo	$94,000	$89	73
10515 60th Street Ct E #165	0.10mi	2/2.0	1,052 (+9%)	11mo	$30,000	$29	71
5718 112th Avenue Ct E #37	0.34mi	2/2.0	900 (-7%)	4mo	$125,000	$139	69
5606 112th Avenue Ct E #15	0.39mi	2/2.0	924 (-4%)	12mo	$85,000	$92	64
5711 112th Avenue Ct E #30	0.36mi	2/2.0	840 (-13%)	2mo	$125,000	$149	60
5620 112th Avenue Ct E #23	0.37mi	3/1.0 (+1)	924 (-4%)	9mo	$18,500	$20	59
5705 113th Ave E #68	0.47mi	3/2.0 (+1)	1,008 (+4%)	10mo	$62,000	$62	57
5514 112th Avenue Ct E #3	0.42mi	2/2.0	840 (-13%)	3mo	$134,900	$161	56
5520 112th Avenue Ct E #7	0.42mi	2/1.0	840 (-13%)	14mo	$35,000	$42	43

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 · 4.46% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 8.20×
• Total profit: $70,596
• Equity at exit: $5,219

10-year hold

• IRR: —
• Equity multiple: 18.14×
• Total profit: $167,977
• Equity at exit: $3,026

Cash invested: $9,800 (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 98372

• Rents YoY: 4.5%
• Active inventory: 167
• Price-to-rent: 1.6×

Monthly cashflow live

• Estimated rent: $1,850 high
• Mortgage (P&I): −$184
• Tax est. 1.5%: −$44 /mo · $525/yr
• Insurance: −$15
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$388
• Net cashflow: $1,153

Break-even live

Break-even rent $390

Max offer price $35,000

Occupancy floor 33%

Sensitivity live

Price	-10% $1,177	-5% $1,165	+0% $1,153	+5% $1,141	+10% $1,129
Rent	-10% $1,007	-5% $1,080	+0% $1,153	+5% $1,226	+10% $1,299
Rate	-1.0pp $1,171	-0.5pp $1,162	base $1,153	+0.5pp $1,144	+1.0pp $1,135

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: $8,750
• Closing costs: $1,050
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1027 N Meridian Puyallup, WA	1.0–2.0	1.0	782	$1,795	$2.29	5d	6	0.27mi
5517 108th Avenue Ct E Unit 5517 Puyallup, WA	2.0	1.0	864	$1,725	$2.00	44d	1	0.34mi
407 Valley Ave NE Puyallup, WA	1.0–3.0	1.0–2.0	923	$2,062	$2.23	44d	1	0.49mi
735 2nd St NW Unit 1 Puyallup, WA	2.0	1.0	837	$1,695	$2.03	22d	1	0.50mi
501 2nd Ave NE Puyallup, WA	1.0–2.0	1.0–2.0	1506	$2,299	$1.53	44d	17	0.51mi
501 2nd St NE Puyallup, WA	1.0–2.0	1.0–2.0	850	$2,299	$2.70	5d	11	0.51mi
721 2nd Ave NE Puyallup, WA	2.0	1.5	1000	$1,895	$1.90	25d	1	0.61mi
719 2nd Ave NE Apt 2 Puyallup, WA	2.0	1.5	1000	$1,895	$1.90	5d	1	0.61mi
129 5th Ave NW Puyallup, WA	1.0	1.0	650	$1,949	$3.00	5d	1	0.62mi
311 2nd St NE Unit 03 Puyallup, WA	1.0	1.0	620	$1,145	$1.85	24d	1	0.65mi
120 5th St NE Unit 1 Puyallup, WA	1.0	1.0	726	$1,595	$2.20	44d	1	0.66mi
4908 110th Ave Ct E Edgewood, WA	3.0	2.0	1100	$2,395	$2.18	18d	1	0.74mi
4824 110th Avenue Ct E Edgewood, WA	1.0–2.0	1.0	775	$2,050	$2.65	5d	3	0.82mi
10710 48th St E Unit A Edgewood, WA	2.0	1.0	898	$2,295	$2.56	44d	1	0.83mi
602 5th Ave NW Unit A Puyallup, WA	1.0	1.0	650	$1,495	$2.30	0d	1	0.85mi
4729 114th Ave E Edgewood, WA	2.0	1.0	800	$1,995	$2.49	20d	1	0.87mi
4727 114th Ave E Edgewood, WA	2.0	1.0	800	$1,995	$2.49	20d	1	0.88mi
1617 E Main Puyallup, WA	1.0–2.0	1.0–2.0	930	$2,151	$2.31	0d	29	0.89mi
344 7th St SE Unit 20 Puyallup, WA	2.0	1.0	800	$1,650	$2.06	25d	1	0.90mi
344 7th St SE Puyallup, WA	2.0	1.0	800	$1,622	$2.03	3d	2	0.90mi
344 7th St SE Puyallup, WA	2.0	1.0	800	$1,650	$2.06	44d	2	0.90mi
344 7th St SE Unit 8 Puyallup, WA	2.0	1.0	800	$1,595	$1.99	25d	1	0.90mi
336 3rd St SE Puyallup, WA	2.0	1.0	630	$1,700	$2.70	25d	1	0.92mi
403 W Meeker Puyallup, WA	1.0	1.0	465	$1,355	$2.91	0d	3	0.94mi
803 9th St NW Unit 803 Puyallup, WA	2.0	1.0	800	$1,775	$2.22	20d	1	0.95mi
112 5th St SW Puyallup, WA	2.0	1.0	585	$1,400	$2.39	25d	1	0.97mi
813 W Main Puyallup, WA	1.0	1.0	700	$1,600	$2.29	44d	1	1.12mi
508 11th St NW Unit H Puyallup, WA	2.0	1.0	1037	$1,800	$1.74	17d	1	1.16mi
508 11th St NW Puyallup, WA	2.0	1.0	1037	$2,000	$1.93	44d	1	1.16mi
516 16th St SE Puyallup, WA	2.0	1.0	950	$1,895	$1.99	25d	1	1.16mi
1218 7th Ave SE Unit 1208 Puyallup, WA	2.0	1.0	885	$2,145	$2.42	25d	1	1.20mi
805 3rd St SW Puyallup, WA	2.0	1.0	957	$1,850	$1.93	44d	1	1.25mi
322 9th Ave SE Unit 08 Puyallup, WA	2.0	1.0	975	$1,595	$1.64	5d	1	1.28mi
322 9th Ave SE Unit 05 Puyallup, WA	1.0	1.0	600	$1,395	$2.33	25d	1	1.28mi
322 9th Ave SE Puyallup, WA	2.0	1.0	975	$1,610	$1.65	13d	3	1.28mi
322 9th Ave SE Apt 9 Puyallup, WA	2.0	1.0	975	$1,550	$1.59	5d	1	1.29mi
931 9th St SE Puyallup, WA	1.0–2.0	1.0	784	$1,845	$2.35	3d	7	1.31mi
922 5th Ave SW Unit C Puyallup, WA	2.0	1.0	600	$1,795	$2.99	22d	1	1.38mi
1022 10th Ave SE Puyallup, WA	2.0	1.5	1100	$1,950	$1.77	44d	1	1.40mi
1112 9th St SE Puyallup, WA	2.0	1.0	842	$1,715	$2.04	0d	4	1.44mi

Listing history 2 events

1. 2026-04-16
   price $49,950
2. 2026-03-25
   listed $59,000 Active

ⓘ 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 9/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥89°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 7/10 Severe 11 unhealthy d/yr today · 12 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,199
• − Mortgage interest: −$1,961
• − Property taxes: −$525
• − Insurance: −$972
• − Repairs & maintenance: −$1,776
• − Management: −$1,776
• − Depreciation: −$1,018
• Taxable income: $14,171
• Est. tax owed @ 24.0%: −$3,401
• After-tax cash flow: $10,436/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 — North Puyallup

• Score: 85/100
• State rank: #25
• US rank: #468

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: North Puyallup, WA
• County: Pierce County · 788,257 people
• Metro: Seattle-Tacoma-Bellevue, WA
• Population (ZIP): 26,012
• Household income: $98,152
• Rent vs Own: 47.5% rent · 52.5% own
• Severe rent burden: 871.0

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 (73%)
• Race & ethnicity: White 73% Two or more races 10% Hispanic / Latino 8% Asian 6% Black 3% Pacific Islander 1%
• Hispanic origin (detail): Mexican 5% Puerto Rican 1%
• Common ancestry: Lithuanian 4% Romanian 4% Subsaharan African 3%
• Foreign-born: 13% · Canada, South Korea, China
• Languages at home: 81% English-only · Russian/Polish/Slavic 5% Spanish 4% Other Asian/Pacific 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: ▼ -283.81%
• Current HPI: 309.7871
• Rent YoY: ▲ 4.46%
• 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

-15.3% since first listed

2 events — show timeline

• 2026-04-16 Price Changed $49,950 NWMLS as Distributed by MLS Grid
• 2026-03-25 Listed $59,000 NWMLS as Distributed by MLS Grid

Property tax history

+3.3%/yr

Latest (2026): $57 · +22.5% YoY. Source: county tax records.