6421 161st St Ct E #9 · Frederickson, WA 98375

$60,000

2 bd · 2.0 ba · 924 sqft · Manufactured public records · 156 Days on market

Built 1984 ↓ 29% 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 +3.7/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Discover the charm of Puyallup living with this inviting manufactured home at 6421 161st St E #9. Nestled minutes from local parks, shopping, dining, and the famous Washington State Fair grounds, this home is perfect for those who want comfort and convenience. The bright, open layout offers a welcoming place to relax or entertain, while its location provides quick access to major routes for easy commuting. A unique opportunity to enjoy low-maintenance living in a vibrant, friendly community.

Key facts

• Manufactured home
• Open layout
• Shopping

Tags

• MANUFACTURED HOME
• LOCAL PARKS
• SHOPPING
• DINING
• WASHINGTON STATE FAIR GROUNDS
• OPEN LAYOUT

Property features AI

Finance

• Other: Calculated living area: 924 square feet
• Financial info: Listing terms: Conventional; Annual tax example provided (2025): $575
• HOA & community: Park approved for sale; Located in Canyon Glen park; Pets allowed: see remarks; Land lease: $935

Exterior

• Utilities: Public water
• Home design: Manufactured home (Single Wide); One level; Entry foundation: Tie down
• Construction: Composition roof; Other construction materials; Built as a manufactured house
• Exterior features: Other exterior features

Interior

• Kitchen: Refrigerator; Stove/Range
• Bedrooms: 2 bedrooms
• Flooring: Vinyl flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Electric energy source
• Interior features: Ceiling fan(s); Landscaped; Bath off primary; Walk-in closet

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $60k.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $60k).
• Recommended offer: $53k (12.0% below list) — sets the bar for market timing.
• Cap rate 34.4% vs local median 3.5% in Frederickson — 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 73/100 on livability (#197 in WA) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, health & safety A+; Watch: crime D+, schools F, amenities D-.
• 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.
• Market conditions: Rents rising (+2.8%/yr); 283 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 6d 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 $415 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 + 2.8% rent growth), your $17k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 156 days — a 12% lower offer ($53k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $25k (29%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $52,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 156 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 F-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. Crime grade is D 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?
6. 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.
7. 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.
8. 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: 3.78% ✓
• Cap rate: 34.43%
• Cash-on-cash: 100.49%
• DSCR: 5.47
• GRM: 2.2

CMA / ARV

• ARV (on-the-fly): $23,100
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7316 155th Street Ct E #11	0.66mi	2/1.0	924 (0%)	4mo	$23,000	$25	61

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 · 2.79% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 5.73×
• Total profit: $79,421
• Equity at exit: $8,946

10-year hold

• IRR: —
• Equity multiple: 11.87×
• Total profit: $182,652
• Equity at exit: $5,188

Cash invested: $16,800 (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 98375

• Rents YoY: 2.8%
• Active inventory: 283
• Price-to-rent: 2.2×

Monthly cashflow live

• Estimated rent: $2,270 high
• Mortgage (P&I): −$315
• Tax from tax record: −$47 /mo · $564/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$477
• Net cashflow: $1,407

Break-even live

Break-even rent $489

Max offer price $60,000

Occupancy floor 33%

Sensitivity live

Price	-10% $1,441	-5% $1,424	+0% $1,407	+5% $1,390	+10% $1,373
Rent	-10% $1,228	-5% $1,317	+0% $1,407	+5% $1,497	+10% $1,586
Rate	-1.0pp $1,437	-0.5pp $1,422	base $1,407	+0.5pp $1,391	+1.0pp $1,376

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: $15,000
• Closing costs: $1,800
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7503 156th St E South Hill, WA	2.0	1.0	624	$1,850	$2.96	5d	1	0.74mi
7501 156th St E Unit Orsi Puyallup, WA	2.0	1.0	624	$1,850	$2.96	4d	1	0.74mi
7513 177th Street Ct E Puyallup, WA	1.0–4.0	1.0–2.5	1243	$2,670	$2.15	10d	7	1.18mi
17814 75th Ave E Puyallup, WA	2.0	1.5	1064	$2,295	$2.16	21d	1	1.28mi
4801 176th St E Tacoma, WA	2.0	1.0	778	$1,850	$2.38	3d	6	1.41mi

Listing history 19 events

1. 2026-06-18
   days on market $60,000 Active 156 DOM
2. 2026-06-17
   days on market $60,000 Active 155 DOM
3. 2026-06-16
   days on market $60,000 Active 154 DOM
4. 2026-06-15
   days on market $60,000 Active 153 DOM
5. 2026-06-13
   days on market $60,000 Active 151 DOM
6. 2026-06-13
   days on market $60,000 Active 150 DOM
7. 2026-06-09
   days on market $60,000 Active 147 DOM
8. 2026-06-08
   days on market $60,000 Active 146 DOM
9. 2026-06-07
   days on market $60,000 Active 145 DOM
10. 2026-06-04
    days on market $60,000 Active 142 DOM
11. 2026-06-03
    days on market $60,000 Active 141 DOM
12. 2026-06-02
    days on market $60,000 Active 140 DOM
13. 2026-06-01
    days on market $60,000 Active 139 DOM
14. 2026-05-31
    days on market $60,000 Active 138 DOM
15. 2026-05-01
    status Active
16. 2026-03-17
    status Pending
17. 2026-02-26
    price $60,000
18. 2026-01-12
    price $80,000
19. 2025-11-28
    listed $85,000 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: $564 · $47/mo
• Projected year-2 tax: $588 · $49/mo
• Expected delta: +$24/yr (+$2/mo · 4.3%)

ⓘ 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 7/10 Severe 10 unhealthy d/yr today · 10 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,243
• − Mortgage interest: −$3,361
• − Property taxes: −$564
• − Insurance: −$300
• − Repairs & maintenance: −$2,179
• − Management: −$2,179
• − Depreciation: −$1,745
• Taxable income: $16,914
• Est. tax owed @ 24.0%: −$4,059
• 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: 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 — Frederickson

• Score: 73/100
• State rank: #197
• US rank: #5426

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Frederickson, WA
• County: Pierce County · 788,257 people
• City population: 32,195
• Metro: Seattle-Tacoma-Bellevue, WA
• Population (ZIP): 31,187
• Household income: $117,074
• Rent vs Own: 24.6% rent · 75.4% own
• Severe rent burden: 541.0

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 0.64)
• Race & ethnicity: White 57% Two or more races 22% Hispanic / Latino 13% Black 8% Asian 6% Pacific Islander 1%
• Hispanic origin (detail): Mexican 10% Puerto Rican 1%
• Common ancestry: Portuguese 3% Lithuanian 3% Italian 3%
• Foreign-born: 11% · Canada, China, South Korea
• Languages at home: 82% English-only · Spanish 8% Other Indo-European 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: ▼ -189.98%
• Current HPI: 285.0074
• Rent YoY: ▲ 2.79%
• 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

-29.4% since first listed

5 events — show timeline

• 2026-05-01 Relisted — NWMLS as Distributed by MLS Grid
• 2026-03-17 Pending — NWMLS as Distributed by MLS Grid
• 2026-02-26 Price Changed $60,000 NWMLS as Distributed by MLS Grid
• 2026-01-12 Price Changed $80,000 NWMLS as Distributed by MLS Grid
• 2025-11-28 Listed $85,000 NWMLS as Distributed by MLS Grid

Property tax history

+6.8%/yr

Latest (2026): $564 · -1.9% YoY. Source: county tax records.