10414 Peacock Hill Ave #19 · Gig Harbor, WA 98322

$165,000

2 bd · 2.0 ba · 1,328 sqft · Manufactured public records · 17 Days on market

Built 1972 Est $232k · 29% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +6.0/10.0
• Appreciation +5.0/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Updated Double-Wide in Gig Harbor’s Hillcrest 55+ Community! A peaceful and well-maintained community conveniently located in the desirable Peacock Hill area of Gig Harbor. Just minutes from the historic downtown waterfront, shopping, restaurants, Costco, and everyday amenities, this home offers comfort, convenience, and affordability in one great package. This double-wide manufactured home has already received major updates including a new heat pump, luxury vinyl plank flooring, and a beautifully remodeled kitchen and bathroom. The home is move-in ready while still offering room for your own finishing touches and personal style. Enjoy outdoor living year-round under the expansive cov

Key facts

• Covered deck
• Level yard
• Covered parking

Tags

• REMODELED KITCHEN
• REMODELED BATHROOM
• COVERED DECK
• LEVEL YARD
• GARDEN SPACE
• COVERED PARKING

Property features AI

Finance

• Other: Buyer brokerage compensation: 3%
• Financial info: Listing terms include Cash, Conventional, and Lease Purchase
• HOA & community: Hillcrest Mobile Home Park (park approved for sale); Senior community; Number of homes in park: 64; Pets allowed: see remarks; Land lease: $960/month

Exterior

• Parking: Carport
• Utilities: Electric energy source; Electric water heater (closet accessed outside, right rear); Community/public water (Hillcrest MHP - HOA); Septic (Hillcrest MHP - HOA); Peninsula Light power; Cable and internet: various providers
• Home design: Manufactured double-wide home; One level; North-facing; Average condition; Make: Marlette; Style: Manufactured - Double Wide
• Construction: Metal/vinyl construction materials; Composition roof; Wood skirting; Pillar/post/pier foundation with tie downs; Manufactured house structure type; Manufactured before 06/15/1976 (not post-1976)
• Exterior features: Metal/vinyl exterior; Patio/porch/deck; Landscaped; Skylights; Walk-in closet; Dead-end street; Paved access; Has view

Interior

• Kitchen: Dishwasher; Refrigerator; Stove/Range
• Bedrooms: 2 bedrooms
• Flooring: Laminate; Vinyl plank
• Bathrooms: 1 full bath; 1 three-quarter bath; 1 bathtub; 1 shower
• Heating & cooling: Forced air heating; Heat pump; Central air conditioning
• Interior features: Fireplace (electric); Water heater
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $165k.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $165k).
• Recommended offer: $163k (1.5% below list) — sets the bar for market timing.
• Cap rate 16.2% vs local median 1.9% in Gig Harbor — 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 74/100 on livability (#177 in WA, #4,581 nationally) — a middle-class / working-renter tenant base. Strengths: schools A+, commute A+, employment A+; Watch: health & safety C-, amenities F, cost of living F.
• Peninsula School District (suburban): math 61% / reading 72% proficiency, ranked #21 of 291 in WA (top 7%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 19% free/reduced lunch — higher-income household profile.
• Market conditions: 1 active listings in the ZIP; 2 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 $6k of equity ($1k loan paydown + $5k appreciation (3.0% local appreciation)).
• Pierce County population projected at +26% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $46k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($163k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 20y 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 $15k; list at $165k implies a 1000% gain — meaningful room to come down on a strong offer.

Recommended offer $162,525 (1.5% below list)

Questions for the listing agent

1. Built in 1972 — 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 A-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?
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: 1.79% ✓
• Cap rate: 16.16%
• Cash-on-cash: 35.23%
• DSCR: 2.57
• GRM: 4.6

CMA / ARV

• ARV (on-the-fly): $232,400
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
10414 Peacock Hill Ave #54	0.00mi	2/2.0	1,430 (+8%)	9mo	$249,950	$175	80

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 40.9%
• Equity multiple: 3.30×
• Total profit: $106,216
• Equity at exit: $74,191

10-year hold

• IRR: 40.8%
• Equity multiple: 6.56×
• Total profit: $256,998
• Equity at exit: $114,337

Cash invested: $46,200 (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 98322

• Active inventory: 1
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $2,960 medium
• Mortgage (P&I): −$865
• Tax from tax record: −$48 /mo · $575/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$622
• Net cashflow: $1,356

Break-even live

Break-even rent $1,243

Max offer price $165,000

Occupancy floor 49%

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4113 105th Street Ct Gig Harbor, WA	3.0	2.0	1594	$3,000	$1.88	15d	1	0.19mi
11315 17th Avenue Ct NW Gig Harbor, WA	3.0	2.0	1338	$2,700	$2.02	43d	1	1.48mi

Listing history 12 events

1. 2026-06-18
   days on market $165,000 Active 17 DOM
2. 2026-06-17
   days on market $165,000 Active 16 DOM
3. 2026-06-16
   days on market $165,000 Active 15 DOM
4. 2026-06-15
   days on market $165,000 Active 14 DOM
5. 2026-06-13
   days on market $165,000 Active 12 DOM
6. 2026-06-09
   days on market $165,000 Active 8 DOM
7. 2026-06-08
   days on market $165,000 Active 7 DOM
8. 2026-06-07
   days on market $165,000 Active 6 DOM
9. 2026-06-04
   days on market $165,000 Active 3 DOM
10. 2026-06-03
    days on market $165,000 Active 2 DOM
11. 2026-06-02
    remarks 693-char remark
12. 2026-06-02
    listed $165,000 Active 1 DOM

ⓘ 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: $575 · $48/mo
• Projected year-2 tax: $1,617 · $135/mo
• Expected delta: +$1,042/yr (+$87/mo · 181.0%)

ⓘ 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 · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 6/10 Major 8 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $35,520
• − Mortgage interest: −$9,243
• − Property taxes: −$575
• − Insurance: −$825
• − Repairs & maintenance: −$2,842
• − Management: −$2,842
• − Depreciation: −$4,800
• Taxable income: $14,394
• Est. tax owed @ 24.0%: −$3,455
• After-tax cash flow: $12,823/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: Peninsula School District
• NCES district ID: 5306690
• Math proficiency: 61% ▲ 1.00%
• Reading proficiency: 72% ▼ -1.00%
• Median HH income: $76,796
• Composite: 60.35/100
• National rank: #1718
• State rank: #21 of 291 in WA

Livability — Gig Harbor

• Score: 74/100
• State rank: #177
• US rank: #4581

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Gig Harbor, WA

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%

Not yet ingested

• Political lean: —
• Race & ethnicity: —
• Common origin: —
• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• 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

+746.2% since first listed

4 events — show timeline

• 2026-06-01 Listed $165,000 NWMLS as Distributed by MLS Grid
• 2007-03-28 Sold (MLS) $15,000 NWMLS as Distributed by MLS Grid
• 2007-03-26 Delisted — NWMLS as Distributed by MLS Grid
• 2006-12-13 Listed $19,500 NWMLS as Distributed by MLS Grid

Property tax history

+9.4%/yr

Latest (2026): $575 · +13.4% YoY. Source: county tax records.