20715 84th Ave E · Graham, WA 98387

$349,900

3 bd · 2.0 ba · 1,344 sqft · Manufactured public records · 3 Days on market

Built 1981 0.76 ac lot Est $523k · 33% under

---

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 +13.4/30.0
• Schools +4.9/10.0
• DSCR +4.1/10.0
• Rent growth +3.6/5.0
• 1% rule +3.4/10.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome home to this 3-bedroom, 1.75-bath property situated on a private ¾-acre corner lot, as well as on a quiet dead-end road. Inside, you'll find a spacious living room featuring a cozy fireplace, perfect for relaxing or entertaining. The fully fenced front and back yards provide plenty of room for pets, gardening, or outdoor activities, while the large covered back deck is ideal for enjoying the peaceful setting. A durable metal roof adds peace of mind, and the impressive 1,500 sq. ft. shop offers endless possibilities for hobbies, storage, or a home business. While the home could benefit from some updates, it offers a fantastic opportunity to add your personal style and build eq

Key facts

• Durable metal roof
• 500 sq ft shop
• Fully fenced yards

Tags

• PRIVATE CORNER LOT
• QUIET DEAD-END ROAD
• FULLY FENCED YARDS
• LARGE COVERED BACK DECK
• DURABLE METAL ROOF
• 500 SQ FT SHOP

Property features AI

Finance

• Other: Living area reported as 1,344 square feet; Lot size approximately 0.76 acre; Directions: South on Meridian Ave E, West on 176th St E, South on 78th Ave E, East on 207th St E, South on 84th Ave E — home on corner
• Financial info: Listing terms: Cash, Conventional, Rehab Loan
• HOA & community: Homeowners association with annual fee of $120 (covers road maintenance)

Exterior

• Parking: Covered parking for 6 vehicles; Driveway; Attached garage; Detached garage; Off-street parking; RV parking
• Security: Property is fully fenced
• Utilities: Public water (Thurston PUD); Septic system; Power by TPU; Electric water heater; Energy sources: Electric and propane
• Home design: Manufactured home (double wide) on land; One story; Main level entry; Corner lot on a dead-end street; Paved access; Has view
• Construction: Wood construction; Metal roof; Pillar/post/pier foundation with tie-downs; Manufactured (Kentwood double wide)
• Exterior features: Wood products siding; Deck; Fully fenced yard; Garden space; Wooded area; Outbuildings; RV parking; Shop; Cable TV available; High-speed internet available; Propane on site

Interior

• Kitchen: Dishwasher; Refrigerator; Stove/Range
• Bedrooms: Three bedrooms (all on the main level)
• Flooring: Vinyl; Carpet
• Bathrooms: One full bathroom; One three-quarter bathroom; One bathtub; Two showers
• Heating & cooling: Forced air heating; No central cooling
• Interior features: Ceiling fan(s); Dining room; Fireplace (gas); Jetted tub; Walk-in closet(s); Water heater
• Laundry & utility: Washer/dryer hookups (utility features implied)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $350k.

Deal economics

• At list price, monthly cash flow is $10 ($114/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $295k (15.7% below list).
• Recommended offer: $295k (15.7% below list) — sets the bar for 1% rule.
• Cap rate 6.3% vs local median 3.6% in Graham — 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 64/100 on livability (#373 in WA) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+; Watch: crime C-, health & safety C-, amenities F.
• Bethel School District (suburban): math 47% / reading 59% proficiency, ranked #103 of 291 in WA (top 35%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Elk Plain School of Choice (570 students, 39% FRL); Liberty Middle School (936 students, 55% FRL); Graham Kapowsin High School (2,011 students, 49% FRL).
• Market conditions: Rents rising fast (+4.2%/yr); 388 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 1d 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).
• This rent runs 33% of the median local income ($107k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k 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.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $95k; list at $350k implies a 268% gain — meaningful room to come down on a strong offer.

Recommended offer $294,987 (15.7% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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.
3. 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.
4. 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: 0.84% ✗
• Cap rate: 6.33%
• Cash-on-cash: 0.12%
• DSCR: 1.01
• GRM: 9.9

CMA / ARV

• ARV (on-the-fly): $522,816
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
9316 206th Street Ct E #12	0.59mi	3/2.0	1,404 (+4%)	9mo	$133,000	$95	57
20505 93rd Avenue Ct E #6	0.60mi	3/2.0	1,512 (+12%)	4mo	$395,000	$261	48
20115 92nd Ave E	0.62mi	2/2.0 (-1)	1,248 (-7%)	10mo	$485,000	$389	46
8316 198th St E	0.55mi	3/2.0	1,152 (-14%)	23mo	$505,000	$438	32

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 · 4.24% rent growth · sell at horizon

5-year hold

• IRR: -14.8%
• Equity multiple: 0.47×
• Total profit: $-52,383
• Equity at exit: $52,171

10-year hold

• IRR: -4.3%
• Equity multiple: 0.70×
• Total profit: $-29,216
• Equity at exit: $30,253

Cash invested: $97,972 (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 98387

• Rents YoY: 4.2%
• Active inventory: 388
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $2,950 medium
• Mortgage (P&I): −$1,835
• Tax from tax record: −$340 /mo · $4,082/yr
• Insurance: −$146
• HOA: −$0
• Vacancy / Maint / Mgmt: −$619
• Net cashflow: $10

Break-even live

Break-even rent $2,938

Max offer price $349,900

Occupancy floor 95%

Sensitivity live

Price	-10% $208	-5% $109	+0% $10	+5% $-90	+10% $-189
Rent	-10% $-224	-5% $-107	+0% $10	+5% $126	+10% $243
Rate	-1.0pp $186	-0.5pp $99	base $10	+0.5pp $-81	+1.0pp $-173

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: $87,475
• Closing costs: $10,497
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
20121 70th Ave E Spanaway, WA	4.0	3.0	1680	$2,950	$1.76	1d	1	0.95mi
19906 100th Avenue Ct E Graham, WA	3.0	2.0	1322	$2,749	$2.08	18d	1	1.12mi
10234 194th St E Graham, WA	2.0	1.0–2.5	1231	$2,252	$1.83	0d	17	1.43mi

Listing history 4 events

1. 2026-06-22
   status $349,900 Pending 3 DOM
2. 2026-06-21
   days on market $349,900 Active 3 DOM
3. 2026-06-18
   remarks 692-char remark
4. 2026-06-18
   listed $349,900 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: $4,082 · $340/mo
• Projected year-2 tax: $4,082 · $340/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 2/10 Low 7 d/yr ≥87°F today · 14 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: $35,398
• − Mortgage interest: −$19,600
• − Property taxes: −$4,082
• − Insurance: −$1,750
• − Repairs & maintenance: −$2,832
• − Management: −$2,832
• − Depreciation: −$10,179
• Taxable loss: −$5,876
• Est. tax savings @ 24.0%: +$1,410
• After-tax cash flow: $1,524/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: Bethel School District
• NCES district ID: 5300480
• Math proficiency: 47% ▬ 0.00%
• Reading proficiency: 59% ▲ 2.00%
• Median HH income: $65,872
• Composite: 48.66/100
• National rank: #4568
• State rank: #103 of 291 in WA

Livability — Graham

• Score: 64/100
• State rank: #373
• US rank: #14219

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Graham, WA
• County: Pierce County · 788,257 people
• City population: 32,687
• Metro: Seattle-Tacoma-Bellevue, WA
• Population (ZIP): 50,774
• Household income: $106,872
• Rent vs Own: 22.6% rent · 77.4% own
• Severe rent burden: 807.0

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 0.68)
• Race & ethnicity: White 53% Two or more races 18% Hispanic / Latino 16% Black 10% Asian 6% Pacific Islander 4%
• Hispanic origin (detail): Mexican 10% Puerto Rican 2%
• Common ancestry: Portuguese 3% Italian 3% Slovak 2%
• Foreign-born: 11% · Canada, South Korea
• Languages at home: 82% English-only · Spanish 7% Russian/Polish/Slavic 2% Other Asian/Pacific 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: ▼ -208.94%
• Current HPI: 308.0462
• Rent YoY: ▲ 4.24%
• 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

+268.3% since first listed

2 events — show timeline

• 2026-06-18 Listed $349,900 NWMLS as Distributed by MLS Grid
• 1995-10-10 Sold (Public Records) $95,000 Public Records

Property tax history

+5.1%/yr

Latest (2026): $4,082 · +7.9% YoY. Source: county tax records.