19305 99th Avenue Ct E #17 · South Hill, WA 98338

$74,500

3 bd · 1.0 ba · 864 sqft · Manufactured public records · 161 Days on market

Built 1985 ↓ 17% since listing

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Why this score? — see what drove the B 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.9/10.0
• Livability +4.0/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to Wonderful Meridian Terrace 55+ Senior Park. This Great Home Has 3 Bedrooms With Walk In Shower Which Will Be Nice For Someone Who Is Looking For Easy Living and Ready To Downsize! Close to Shopping, Restaurants and Bus Line. Home Comes With All Appliances Including Washer and Dryer. Nice Corner Lot, Home Has a Shed For All Your Extra Stuff! Covered Parking For Two Cars and East Access. Home Has Electric Heat, Mini Split in Living Room For Those Hot Summer Nights and Sprinkler System To Keep Your Grass & Flowers Green. Nice Metal Roof and Vinyl Siding. Water and Garbage Are Paid By The HOA! Make Sure You Stop By To See This Wonderful Home Soon!

Key facts

• Shed
• Covered parking
• Sprinkler system

Tags

• WALK IN SHOWER
• CORNER LOT
• SHED
• COVERED PARKING
• MINI SPLIT
• SPRINKLER SYSTEM

Property features AI

Finance

• Other: Calculated living area 864 square feet; Corner/city directions available
• Financial info: Listing terms: Cash or Conventional
• HOA & community: Located in a senior community (Meridian Terrace); Park approved for sale; Park amenities include common area and RV parking; Pets allowed (cats and dogs); Senior exemption applies; Land lease required

Exterior

• Parking: Carport
• Utilities: Electric power (TPU); Community water (paid by HOA); Septic (septic service paid by HOA); Cable available (Xfinity)
• Home design: Manufactured double-wide home; One story; Good condition; Has a view; Model: LIBER, Make: MONTICELLO; Mobile home remains on site
• Construction: Metal/vinyl and wood construction; Metal roof; Tie-down foundation
• Exterior features: Patio/porch/deck; Awnings; Landscaped; Corner lot; Cul-de-sac; Paved lot

Interior

• Kitchen: Dishwasher; Refrigerator; Stove/Range
• Bedrooms: 3 bedrooms
• Flooring: Vinyl; Vinyl plank; Carpet
• Bathrooms: One three-quarter bath with shower
• Heating & cooling: Forced air heating; Ductless heating; Has cooling
• Interior features: Electric water heater (located in bedroom closet); Water heater included
• Laundry & utility: Washer; Dryer; Utility room

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath manufactured listed at $74k.

Deal economics

• At list price, monthly cash flow is $1k ($18k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $74k).
• Recommended offer: $66k (12.0% below list) — sets the bar for market timing.
• Cap rate 30.3% vs local median 3.0% in South Hill — 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 80/100 on livability (#84 in WA, #1,620 nationally) — a professional / high-income tenant draw. Strengths: employment A+, housing A+, health & safety A+; Watch: crime C-, cost of living 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: Graham Elementary (533 students, 51% FRL); Graham Kapowsin High School (2,011 students, 49% FRL).
• Market conditions: Rents rising (+3.3%/yr); 232 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 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 $515 of loan paydown is wiped out by about $2k 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 + 3.3% rent growth), your $21k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 161 days — a 12% lower offer ($66k) is reasonable based on typical stale-listing flexibility.

Recommended offer $65,560 (12.0% below list)

Questions for the listing agent

1. It's been on market 161 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 3.37% ✓
• Cap rate: 30.28%
• Cash-on-cash: 85.65%
• DSCR: 4.81
• GRM: 2.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.32% rent growth · sell at horizon

5-year hold

• IRR: 86.5%
• Equity multiple: 5.01×
• Total profit: $83,599
• Equity at exit: $11,108

10-year hold

• IRR: 89.7%
• Equity multiple: 10.51×
• Total profit: $198,371
• Equity at exit: $6,441

Cash invested: $20,860 (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 98338

• Rents YoY: 3.3%
• Active inventory: 232
• Price-to-rent: 2.5×

Monthly cashflow live

• Estimated rent: $2,514 high
• Mortgage (P&I): −$391
• Tax from tax record: −$75 /mo · $902/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$528
• Net cashflow: $1,489

Break-even live

Break-even rent $629

Max offer price $74,500

Occupancy floor 36%

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: $18,625
• Closing costs: $2,235
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10234 194th St E Graham, WA	2.0	1.0–2.5	1231	$2,252	$1.83	1d	17	0.25mi
10007 186th St E #234 Puyallup, WA	2.0	2.0	1019	$2,300	$2.26	2d	1	0.43mi
18527 101st Ave Ct E Puyallup, WA	2.0	2.0	1026	$1,600	$1.56	43d	1	0.47mi
10423 Rainier Ridge Blvd E Puyallup, WA	1.0–3.0	1.0–2.0	1035	$3,268	$3.16	1d	27	0.62mi
9202 176th St E Puyallup, WA	1.0–2.0	1.0–2.0	824	$1,960	$2.38	1d	7	1.07mi
17718 85th Avenue Ct E Unit 17718-C Puyallup, WA	2.0	1.5	916	$1,525	$1.66	21d	1	1.31mi

Listing history 18 events

1. 2026-06-18
   days on market $74,500 Active 161 DOM
2. 2026-06-17
   days on market $74,500 Active 160 DOM
3. 2026-06-16
   days on market $74,500 Active 159 DOM
4. 2026-06-15
   days on market $74,500 Active 158 DOM
5. 2026-06-13
   days on market $74,500 Active 156 DOM
6. 2026-06-13
   days on market $74,500 Active 155 DOM
7. 2026-06-09
   days on market $74,500 Active 152 DOM
8. 2026-06-08
   days on market $74,500 Active 151 DOM
9. 2026-06-07
   days on market $74,500 Active 150 DOM
10. 2026-06-04
    days on market $74,500 Active 147 DOM
11. 2026-06-03
    days on market $74,500 Active 146 DOM
12. 2026-06-02
    days on market $74,500 Active 145 DOM
13. 2026-06-01
    days on market $74,500 Active 144 DOM
14. 2026-05-31
    days on market $74,500 Active 143 DOM
15. 2026-04-02
    price $74,500
16. 2026-02-17
    price $79,500
17. 2026-02-06
    price $84,500
18. 2026-01-08
    listed $89,950 Active

ⓘ 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: $902 · $75/mo
• Projected year-2 tax: $902 · $75/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $30,165
• − Mortgage interest: −$4,173
• − Property taxes: −$902
• − Insurance: −$372
• − Repairs & maintenance: −$2,413
• − Management: −$2,413
• − Depreciation: −$2,167
• Taxable income: $17,723
• Est. tax owed @ 24.0%: −$4,254
• After-tax cash flow: $13,614/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 — South Hill

• Score: 80/100
• State rank: #84
• US rank: #1620

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: South Hill, WA
• County: Pierce County · 788,257 people
• City population: 76,707
• Metro: Seattle-Tacoma-Bellevue, WA
• Population (ZIP): 32,687
• Household income: $114,819
• Rent vs Own: 15.5% rent · 84.5% own
• Severe rent burden: 236.0

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 (71%)
• Race & ethnicity: White 71% Two or more races 15% Hispanic / Latino 12% Asian 3% Black 3% Pacific Islander 2% Native American 1%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Italian 4% Portuguese 4% Iranian 3%
• Foreign-born: 7% · Canada, South Korea, China
• Languages at home: 88% English-only · Spanish 5% Russian/Polish/Slavic 2% Other Asian/Pacific 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: ▼ -501.28%
• Current HPI: 304.4241
• Rent YoY: ▲ 3.32%
• 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

-17.2% since first listed

4 events — show timeline

• 2026-04-02 Price Changed $74,500 NWMLS as Distributed by MLS Grid
• 2026-02-17 Price Changed $79,500 NWMLS as Distributed by MLS Grid
• 2026-02-06 Price Changed $84,500 NWMLS as Distributed by MLS Grid
• 2026-01-08 Listed $89,950 NWMLS as Distributed by MLS Grid

Property tax history

+11.0%/yr

Latest (2026): $902 · -2.7% YoY. Source: county tax records.