9118 130th Avenue Ct · Anderson Island, WA 98303

$289,000

3 bd · 3.0 ba · 2,858 sqft · SingleFamily public records · 41 Days on market

Built 1999 0.39 ac lot Est $489k · 41% under $71/mo HOA · 3% of rent

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Why this score? — see what drove the C 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).

• ARV discount +15.0/15.0
• Cash flow +10.5/30.0
• Appreciation +10.0/10.0
• Schools +5.8/10.0
• Livability +3.2/5.0
• 1% rule +3.1/10.0
• DSCR +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

203K Opportunity on Beautiful Anderson Island! Nearly 3,000 sq ft with a rare 3-car attached garage—one of the larger home opportunities on the island. The interior is ready for completion, offering buyers the ability to customize finishes and design to their preferences. The property may qualify for FHA 203K renovation financing (buyer to verify program guidelines and approval). Served by a community well system (approx. $35/month). HOA dues are $850.44/year and include access to Riviera amenities. Home sold as-is. Buyer to verify all information to their satisfaction.

Key facts

• Customize finishes
• 0.39 acre lot
• Garage

Tags

• RARE 3-CAR ATTACHED GARAGE
• CUSTOMIZE FINISHES
• COMMUNITY WELL SYSTEM
• ACCESS TO RIVIERA AMENITIES

🏷️ Possibly a rental listed for sale. The $289,000 price doesn't fit this home's estimated sale value (~$488,718) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath single-family listed at $289k.

Deal economics

• At list price, monthly cash flow is $-146 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $263k (8.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $235k (18.6% below list).
• Recommended offer: $235k (18.6% below list) — sets the bar for 1% rule.
• Cap rate 5.7% vs local median 2.4% in Anderson Island — 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 63/100 on livability (#390 in WA) — a middle-class / working-renter tenant base. Strengths: crime A+, employment B+, housing B+; Watch: health & safety C-, amenities F, commute F.
• Steilacoom Hist. School District (suburban): math 57% / reading 71% proficiency, ranked #33 of 291 in WA (top 11%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 16% free/reduced lunch — higher-income household profile.
• Zoned schools: Anderson Island Elementary (25 students, 64% FRL); Steilacoom High (946 students, 26% FRL) — zoned schools average 45% FRL vs 16% district-wide (30 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 117 active listings in the ZIP; 3,209 units permitted in Pierce County in 2024 (1,269 in 5+ unit buildings).

Forward outlook

• In year one you build about $31k of equity ($2k loan paydown + $29k appreciation (10.0% local appreciation)).
• Pierce County population projected at +26% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$50k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 41 days — a 3% lower offer ($280k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 14y ago; this cycle's ask has dropped $16k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $65k; list at $289k implies a 345% gain — meaningful room to come down on a strong offer.

Recommended offer $235,304 (18.6% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 41 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 0.81% ✗
• Cap rate: 5.69%
• Cash-on-cash: -2.16%
• DSCR: 0.90
• GRM: 10.2

CMA / ARV

• ARV (on-the-fly): $488,718
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
10106 Edgewood Dr	0.60mi	3/3.0	3,066 (+7%)	8mo	$481,500	$157	54
12418 95th Street Ct	0.45mi	3/3.0	2,687 (-6%)	21mo	$459,000	$171	51

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 22.7%
• Equity multiple: 2.83×
• Total profit: $148,158
• Equity at exit: $260,354

10-year hold

• IRR: 20.3%
• Equity multiple: 6.48×
• Total profit: $443,678
• Equity at exit: $561,463

Cash invested: $80,920 (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 98303

• Home prices YoY: 23.2%
• Active inventory: 117
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $2,353 medium
• Mortgage (P&I): −$1,516
• Tax from tax record: −$298 /mo · $3,571/yr
• Insurance: −$120
• HOA: −$71
• Vacancy / Maint / Mgmt: −$494
• Net cashflow: $-146

Break-even live

Break-even rent $2,537

Max offer price $263,264

Occupancy floor —

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: $72,250
• Closing costs: $8,670
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $71 · $852/yr

Listing history 17 events

1. 2026-06-09
   days on market $289,000 Active 41 DOM
2. 2026-06-08
   days on market $289,000 Active 40 DOM
3. 2026-06-07
   days on market $289,000 Active 39 DOM
4. 2026-06-04
   days on market $289,000 Active 36 DOM
5. 2026-06-03
   days on market $289,000 Active 35 DOM
6. 2026-06-02
   days on market $289,000 Active 34 DOM
7. 2026-06-01
   days on market $289,000 Active 33 DOM
8. 2026-05-31
   days on market $289,000 Active 32 DOM
9. 2026-03-25
   status Pending
10. 2026-03-25
    price $289,000
11. 2026-02-26
    listed $305,000 Active
12. 2012-11-01
    soldstatus $65,000
13. 2012-10-31
    soldstatus $65,000 Sold
14. 2012-10-28
    status Pending
15. 2012-10-07
    status Pending Inspection
16. 2012-08-01
    listed $65,000 Active
17. 2010-12-27
    soldstatus $45,100

ⓘ 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: $3,571 · $298/mo
• Projected year-2 tax: $3,571 · $298/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 ≥88°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 6/10 Major 8 unhealthy d/yr today · 9 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,236
• − Mortgage interest: −$16,188
• − Property taxes: −$3,571
• − Insurance: −$1,445
• − Repairs & maintenance: −$2,259
• − Management: −$2,259
• − HOA: −$852
• − Depreciation: −$8,407
• Taxable loss: −$6,746
• Est. tax savings @ 24.0%: +$1,619
• After-tax cash flow: $-129/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: Steilacoom Hist. School District
• NCES district ID: 5308460
• Math proficiency: 57% ▲ 2.00%
• Reading proficiency: 71% ▬ 0.00%
• Median HH income: $72,348
• Composite: 57.95/100
• National rank: #2169
• State rank: #33 of 291 in WA

Livability — Anderson Island

• Score: 63/100
• State rank: #390
• US rank: #15464

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Anderson Island, WA
• City population: 1,341
• Population (ZIP): 1,341

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 (77%)
• Race & ethnicity: White 77% Two or more races 16% Hispanic / Latino 5% Black 1% Asian 1%
• Common ancestry: Portuguese 6% Lithuanian 6% Serbian 5%
• Foreign-born: 4%
• Languages at home: 92% English-only · Spanish 3% Russian/Polish/Slavic 2% Other Indo-European 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: ▲ 50.24%
• Current HPI: 266.59
• Rent YoY: —
• Metro: —
• 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

+540.8% since first listed

9 events — show timeline

• 2026-03-25 Pending — NWMLS as Distributed by MLS Grid
• 2026-03-25 Price Changed $289,000 NWMLS as Distributed by MLS Grid
• 2026-02-26 Listed $305,000 NWMLS as Distributed by MLS Grid
• 2012-11-01 Sold (Public Records) $65,000 Public Records
• 2012-10-31 Sold (MLS) $65,000 NWMLS as Distributed by MLS Grid
• 2012-10-28 Pending — NWMLS as Distributed by MLS Grid
• 2012-10-07 Pending — NWMLS as Distributed by MLS Grid
• 2012-08-01 Listed $65,000 NWMLS as Distributed by MLS Grid
• 2010-12-27 Sold (Public Records) $45,100 Public Records

Property tax history

+3.6%/yr

Latest (2026): $3,571 · +3.9% YoY. Source: county tax records.