5002 S 58th St · Tacoma, WA 98409

$799,950

8 bd · 4.0 ba · 3,500 sqft · MultiFamily public records · 37 Days on market

Built 1977 0.38 ac lot Est $812k · at est. $50/mo HOA · 3% of rent

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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 +13.5/30.0
• ARV discount +8.2/15.0
• Schools +4.2/10.0
• DSCR +4.1/10.0
• Livability +3.9/5.0
• Rent growth +3.8/5.0
• 1% rule +3.4/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 4 units. confirmed

Listing remarks

Single level 4-plex provides a great opportunity to add to an investment portfolio! * All 4 units are identical, offering 2 beds/1 bath, 875 sq ft, with all kitchen appliances included * Washer/Dryer hookups are available in each unit, plus there are outside storage areas for each tenant * Situated on a spacious corner lot in a dead end neighborhood, offering both privacy and convenience * Some landlord improvements have been recently done to a few of the units, while others present an opportunity to increase rents and add value * Roof is less than 5 years old * Current rents range from $1495 to $1550, providing a strong foundation for future growth * Property is currently generating $6340

Key facts

• Single level 4-plex
• Spacious corner lot
• Washer dryer hookups

Tags

• SINGLE LEVEL 4-PLEX
• WASHER DRYER HOOKUPS
• OUTSIDE STORAGE AREAS
• SPACIOUS CORNER LOT
• ROOF IS LESS THAN 5 YEARS OLD
• EASY ACCESS TO SHOPPING

Property features AI

Finance

• Financial info: Listing terms include Cash, Conventional, FHA, VA; Gross scheduled income approximately $72,480; Gross adjusted income approximately $76,080; Total monthly income reported as $6,340; Net operating income reported as $53,426; Total expenses reported as $22,654; Insurance expense reported as $3,651; Other expenses reported as $600; Gross rent multiplier reported as 11
• HOA & community: Monthly association fee of $50

Exterior

• Parking: Eight uncovered parking spaces
• Security: Partially fenced for security/privacy
• Utilities: Electric energy; Public water (TPU); Sewer connected (TPU); Power service by TPU; Water, sewer and garbage charge listed
• Home design: Residential income property (multi-family / quadruplex); Single-story building; Named building: Orchard Glen; Facing direction not specified
• Construction: Wood construction; Composition roof; Slab foundation; Effective year built 1993
• Exterior features: Wood exterior and wood products; Partially fenced lot; Patio; Cable TV available; Corner lot, paved

Interior

• Kitchen: Each unit has a range/oven; Each unit includes a refrigerator; Each unit includes a dishwasher
• Bedrooms: Four 2-bedroom units (Units A–D)
• Flooring: Laminate; Vinyl; Carpet
• Bathrooms: Four 1-bath units (one bath per unit)
• Heating & cooling: Baseboard heating; No central cooling
• Interior features: Partially fenced; Laminate, vinyl and carpet flooring; Baseboard heating
• Laundry & utility: No in-unit washer/dryer (tenant selects internet)

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/1.0-bath units multifamily listed at $800k.

Deal economics

• At list price, monthly cash flow is $22 ($266/yr) — positive. Per door: $6/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $673k (15.8% below list).
• Recommended offer: $673k (15.8% below list) — sets the bar for 1% rule.
• Cap rate 6.3% vs local median 2.9% in Tacoma — 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 78/100 on livability (#127 in WA, #2,535 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, housing A+; Watch: cost of living D, crime F.
• Tacoma School District (urban): math 40% / reading 53% proficiency, ranked #169 of 291 in WA (top 58%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Manitou Park Elementary School (460 students, 73% FRL); Gray Middle School (521 students, 78% FRL); Mount Tahoma High School (1,430 students, 71% FRL) — zoned schools average 74% FRL vs 53% district-wide (22 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+5.1%/yr); 107 active listings in the ZIP; 3,209 units permitted in Pierce County in 2024 (1,269 in 5+ unit buildings).
• At $6,732/mo this rent would consume 110% of the median local household income ($73k/yr) (locally 2070% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $6k of loan paydown is wiped out by about $24k 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

• It's been on market 37 days — a 3% lower offer ($776k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 9y 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 $365k; list at $800k implies a 119% gain — meaningful room to come down on a strong offer.

Recommended offer $673,200 (15.8% below list)

Questions for the listing agent

1. It's been on market 37 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are B-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?
8. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
9. 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?
10. 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.
11. 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.
12. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

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): $812,000
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5205 S Orchard St	0.41mi	8/4.0	3,664 (+5%)	3mo	$850,000	$232	71

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 · 5.08% rent growth · sell at horizon

5-year hold

• IRR: -13.9%
• Equity multiple: 0.49×
• Total profit: $-113,873
• Equity at exit: $119,275

10-year hold

• IRR: -2.2%
• Equity multiple: 0.84×
• Total profit: $-35,927
• Equity at exit: $69,165

Cash invested: $223,986 (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 98409

• Rents YoY: 5.1%
• Active inventory: 107
• Price-to-rent: 39.6×

Monthly cashflow live

• Estimated rent: $6,732 high
• Mortgage (P&I): −$4,195
• Tax from tax record: −$718 /mo · $8,613/yr
• Insurance: −$333
• HOA: −$50
• Vacancy / Maint / Mgmt: −$1,414
• Net cashflow: $22

Break-even live

Break-even rent $6,704

Max offer price $799,950

Occupancy floor 95%

Sensitivity live

Price	-10% $475	-5% $249	+0% $22	+5% $-204	+10% $-431
Rent	-10% $-510	-5% $-244	+0% $22	+5% $288	+10% $554
Rate	-1.0pp $425	-0.5pp $226	base $22	+0.5pp $-185	+1.0pp $-396

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$6,732
Total (4 units)			$6,732

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: $199,988
• Closing costs: $23,998
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $50 · $600/yr

Listing history 27 events

1. 2026-06-21
   days on market $799,950 Active 37 DOM
2. 2026-06-18
   days on market $799,950 Active 34 DOM
3. 2026-06-17
   days on market $799,950 Active 33 DOM
4. 2026-06-16
   days on market $799,950 Active 32 DOM
5. 2026-06-15
   days on market $799,950 Active 31 DOM
6. 2026-06-13
   days on market $799,950 Active 29 DOM
7. 2026-06-13
   days on market $799,950 Active 28 DOM
8. 2026-06-09
   days on market $799,950 Active 25 DOM
9. 2026-06-08
   days on market $799,950 Active 24 DOM
10. 2026-06-07
    days on market $799,950 Active 23 DOM
11. 2026-06-04
    days on market $799,950 Active 20 DOM
12. 2026-06-03
    days on market $799,950 Active 19 DOM
13. 2026-06-02
    days on market $799,950 Active 18 DOM
14. 2026-06-01
    days on market $799,950 Active 17 DOM
15. 2026-05-31
    days on market $799,950 Active 16 DOM
16. 2026-05-15
    listed $799,950 Active
17. 2023-06-22
    historical
18. 2017-06-12
    soldstatus $365,000 Sold
19. 2017-06-09
    soldstatus $365,000
20. 2017-05-23
    status Pending Inspection
21. 2017-05-17
    status Active
22. 2017-05-09
    status Pending Inspection
23. 2017-05-09
    listed $375,000 Active
24. 2003-05-22
    soldstatus $250,000
25. 1995-03-20
    soldstatus $159,000
26. 1993-05-18
    soldstatus $141,000
27. 1990-02-13
    soldstatus $108,250

ⓘ 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: $8,613 · $718/mo
• Projected year-2 tax: $8,613 · $718/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 ≥86°F today · 14 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: $80,784
• − Mortgage interest: −$44,810
• − Property taxes: −$8,613
• − Insurance: −$4,000
• − Repairs & maintenance: −$6,463
• − Management: −$6,463
• − HOA: −$600
• − Depreciation: −$23,271
• Taxable loss: −$13,435
• Est. tax savings @ 24.0%: +$3,224
• After-tax cash flow: $3,491/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: Tacoma School District
• NCES district ID: 5308700
• Math proficiency: 40% ▬ 0.00%
• Reading proficiency: 53% ▲ 1.00%
• Median HH income: $52,467
• Composite: 42.25/100
• National rank: #6987
• State rank: #169 of 291 in WA

Livability — Tacoma

• Score: 78/100
• State rank: #127
• US rank: #2535

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Tacoma, WA
• County: Pierce County · 788,257 people
• City population: 212,935
• Metro: Seattle-Tacoma-Bellevue, WA
• Population (ZIP): 27,843
• Household income: $73,348
• Rent vs Own: 55.6% rent · 44.4% own
• Severe rent burden: 2070.0

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: Highly diverse neighborhood (Simpson 0.71)
• Race & ethnicity: White 48% Hispanic / Latino 16% Two or more races 15% Black 15% Asian 9% Native American 1% Pacific Islander 1%
• Hispanic origin (detail): Mexican 11% Puerto Rican 1%
• Common ancestry: Portuguese 3% Slovak 2% Italian 2%
• Foreign-born: 12% · Canada, South Korea, Vietnam
• Languages at home: 81% English-only · Spanish 9% Korean 3% Tagalog/Filipino 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: ▼ -614.20%
• Current HPI: 355.8056
• Rent YoY: ▲ 5.08%
• 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

+639.0% since first listed

12 events — show timeline

• 2026-05-15 Listed $799,950 NWMLS as Distributed by MLS Grid
• 2023-06-22 Rental Removed — APPFOLIO
• 2017-06-12 Sold (MLS) $365,000 NWMLS as Distributed by MLS Grid
• 2017-06-09 Sold (Public Records) $365,000 Public Records
• 2017-05-23 Pending — NWMLS as Distributed by MLS Grid
• 2017-05-17 Relisted — NWMLS as Distributed by MLS Grid
• 2017-05-09 Pending — NWMLS as Distributed by MLS Grid
• 2017-05-09 Listed $375,000 NWMLS as Distributed by MLS Grid
• 2003-05-22 Sold (Public Records) $250,000 Public Records
• 1995-03-20 Sold (Public Records) $159,000 Public Records
• 1993-05-18 Sold (Public Records) $141,000 Public Records
• 1990-02-13 Sold (Public Records) $108,250 Public Records

Property tax history

+4.4%/yr

Latest (2026): $8,613 · +1.6% YoY. Source: county tax records.