7427 154th St E #14 · South Hill, WA 98375

$145,000

3 bd · 2.0 ba · 1,344 sqft · Manufactured public records · 35 Days on market

Built 1982 $108/sqft · at area comps Est $150k · at est.

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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 +9.0/15.0
• Schools +5.4/10.0
• Livability +4.0/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Enjoy easy living in this beautifully maintained, pre-inspected single-level home nestled in a desirable all-ages park, offering the perfect blend of comfort, flexibility, and convenience. Inside, you’ll find a bright and spacious open floor plan featuring 3 bedrooms, 2 baths, updated flooring throughout, and a good-sized kitchen with updated finishes. A new deck and oversized front door make the home especially welcoming with ramp-friendly access for added ease. This home also has 3 separate entrances. Outside, enjoy a large landscaped and fully fenced yard — perfect for outdoor living, entertaining, and pets, with both cats and dogs welcome. Spacious parking accommodates up to

Key facts

• Good-sized kitchen
• Pre-inspected home
• Single-level home

Tags

• PRE-INSPECTED HOME
• SINGLE-LEVEL HOME
• UPDATED FLOORING
• GOOD-SIZED KITCHEN
• NEW DECK
• OVERSIZED FRONT DOOR

Property features AI

Finance

• Other: Located on a cul-de-sac with paved access
• Financial info: Accepts cash and conventional financing
• HOA & community: Located in a manufactured home park (Firlane Valley MHP) with 28 homes; Park approved for sale; Park amenities include a recreational area; Pets allowed — see remarks; Land lease: $900

Exterior

• Parking: Uncovered parking; 3 open parking spaces
• Utilities: Electric energy source; Shared well (community water); Community septic; Puget Sound Energy power; Internet: Comcast
• Home design: Manufactured double-wide home (Modul Gibraltar); Single-story; Faces south; Vaulted ceilings; Bath off primary; Walk-in closet; Entry and dining room
• Construction: Metal skirt; Construction materials: metal/vinyl and wood; Composition roof; Pillar/post/pier foundation with tie-downs; Manufactured after 6/15/1976
• Exterior features: Awnings; Patio/porch/deck; Landscaped; Metal/vinyl and wood exterior

Interior

• Kitchen: Refrigerator; Stove/Range
• Bedrooms: 3 bedrooms
• Flooring: Vinyl plank; Carpet
• Bathrooms: 2 full bathrooms (2 tubs, 2 showers)
• Heating & cooling: Forced air heating; No cooling
• Interior features: Wood-burning fireplace; Water heater
• Laundry & utility: Washer; Dryer; Water heater located in utility room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $145k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $145k).
• Recommended offer: $141k (3.0% below list) — sets the bar for market timing.
• Cap rate 16.9% 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.
• Puyallup School District (suburban): math 53% / reading 66% proficiency, ranked #52 of 291 in WA (top 18%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Dessie F Evans Elementary (988 students, 42% FRL); Gov John Rogers High School (1,730 students, 42% FRL).
• Market conditions: Rents rising (+2.8%/yr); 283 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals leasing fast (median 13d 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 $1k of loan paydown is wiped out by about $4k 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 $41k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 4y 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 $54k; list at $145k implies a 171% gain — meaningful room to come down on a strong offer.

Recommended offer $140,650 (3.0% below list)

Questions for the listing agent

1. It's been on market 35 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 1.90% ✓
• Cap rate: 16.86%
• Cash-on-cash: 37.75%
• DSCR: 2.68
• GRM: 4.4

CMA / ARV

• ARV (median comp): $150,167
• List price: $145,000
• Delta: -3.44%
• Verdict: FAIR
• Comps: 9 within 1.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7309 155th St E #2	0.15mi	3/2.0	1,456 (+8%)	2mo	$75,000	$52	77
15807 78th Avenue Ct E	0.36mi	3/2.0	1,296 (-4%)	11mo	$425,000	$328	68
7620 157th Street Ct E #94	0.27mi	3/2.0	1,506 (+12%)	1mo	$124,000	$82	67
7706 158th Ct Ct E #132	0.32mi	3/2.0	1,294 (-4%)	16mo	$136,000	$105	66
15605 79th Ave E	0.29mi	3/2.0	1,200 (-11%)	7mo	$350,000	$292	63
7715 156th Street Ct E	0.20mi	3/2.0	1,512 (+12%)	11mo	$50,000	$33	61
15801 85th Ave E	0.67mi	3/2.0	1,280 (-5%)	0mo	$449,500	$351	60
7409 156th Street Ct E Unit E-2	0.17mi	3/1.0	1,224 (-9%)	24mo	$75,000	$61	53
15801 81st Ave Ct E #71	0.48mi	2/2.0 (-1)	1,432 (+6%)	16mo	$305,000	$213	48
15807 85th Ave E	0.68mi	3/2.0	1,512 (+12%)	15mo	$455,500	$301	35
15919 84th Ave E	0.68mi	3/2.0	1,508 (+12%)	16mo	$460,000	$305	34

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: 33.5%
• Equity multiple: 2.41×
• Total profit: $57,255
• Equity at exit: $21,620

10-year hold

• IRR: 40.3%
• Equity multiple: 4.75×
• Total profit: $152,146
• Equity at exit: $12,537

Cash invested: $40,600 (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: 4.4×

Monthly cashflow live

• Estimated rent: $2,749 high
• Mortgage (P&I): −$760
• Tax from tax record: −$73 /mo · $878/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$577
• Net cashflow: $1,277

Break-even live

Break-even rent $1,132

Max offer price $145,000

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
15012 71st Ave E South Hill, WA	3.0	1.5	1200	$2,300	$1.92	1d	1	0.33mi
15010 71st Ave E Unit S168-12 Puyallup, WA	3.0	1.5	1200	$2,300	$1.92	1d	1	0.33mi
16216 and16218 72nd Avenue Ct E Puyallup, WA	3.0	2.5	1500	$2,480	$1.65	24d	1	0.59mi
7104 163rd St E Puyallup, WA	3.0	2.0	1260	$2,800	$2.22	24d	1	0.65mi
15502 87th Ave E Unit 15502 South Hill, WA	3.0	2.0	1300	$2,495	$1.92	24d	1	0.72mi
15623 90th Avenue Ct E Puyallup, WA	3.0	2.0	1286	$3,065	$2.38	11d	1	0.97mi
15623 90th Avenue Ct E Puyallup, WA	4.0	2.0	1286	$3,065	$2.38	12d	1	0.97mi
6719 135th Street Ct E Puyallup, WA	4.0	2.5	1675	$2,795	$1.67	43d	1	1.24mi
6820 133rd Street Ct E Puyallup, WA	3.0	2.5	1285	$2,550	$1.98	1d	1	1.34mi
97th Ave E Puyallup, WA	3.0	2.5	1452	$2,495	$1.72	24d	1	1.35mi
9530 160th Street Ct E Puyallup, WA	2.0–3.0	2.5	1284	$2,550	$1.99	12d	1	1.38mi
9611 161st St E Puyallup, WA	2.0	2.5	1150	$2,200	$1.91	14d	1	1.39mi
6801 132nd Street Ct E Puyallup, WA	4.0	3.0	1768	$3,139	$1.78	1d	1	1.41mi
7513 177th Street Ct E Puyallup, WA	1.0–4.0	1.0–2.5	1243	$2,940	$2.37	10d	7	1.47mi
8345 175th Street Ct E Puyallup, WA	2.0	2.5	1588	$2,300	$1.45	12d	1	1.48mi

Listing history 26 events

1. 2026-06-18
   days on market $145,000 Active 35 DOM
2. 2026-06-17
   days on market $145,000 Active 34 DOM
3. 2026-06-16
   days on market $145,000 Active 33 DOM
4. 2026-06-15
   days on market $145,000 Active 32 DOM
5. 2026-06-13
   days on market $145,000 Active 30 DOM
6. 2026-06-13
   days on market $145,000 Active 29 DOM
7. 2026-06-09
   days on market $145,000 Active 26 DOM
8. 2026-06-08
   days on market $145,000 Active 25 DOM
9. 2026-06-07
   pricedays on market $145,000 Active 24 DOM
10. 2026-06-04
    days on market $150,000 Active 21 DOM
11. 2026-06-03
    days on market $150,000 Active 20 DOM
12. 2026-06-02
    days on market $150,000 Active 19 DOM
13. 2026-06-01
    days on market $150,000 Active 18 DOM
14. 2026-05-31
    days on market $150,000 Active 17 DOM
15. 2026-05-14
    listed $150,000 Active
16. 2022-10-07
    soldstatus $53,500 Closed
17. 2022-09-23
    status Pending
18. 2022-09-06
    status Active
19. 2022-08-31
    status Pending
20. 2022-08-26
    price $58,950
21. 2022-08-22
    price $62,000
22. 2022-08-11
    status Active
23. 2022-08-10
    status Pending
24. 2022-08-05
    status Active
25. 2022-07-16
    status Pending
26. 2022-07-14
    listed $65,000 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: $878 · $73/mo
• Projected year-2 tax: $1,421 · $118/mo
• Expected delta: +$543/yr (+$45/mo · 61.8%)

ⓘ 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: $32,983
• − Mortgage interest: −$8,122
• − Property taxes: −$878
• − Insurance: −$725
• − Repairs & maintenance: −$2,639
• − Management: −$2,639
• − Depreciation: −$4,218
• Taxable income: $13,762
• Est. tax owed @ 24.0%: −$3,303
• After-tax cash flow: $12,026/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: Puyallup School District
• NCES district ID: 5306960
• Math proficiency: 53% ▬ 0.00%
• Reading proficiency: 66% ▬ 0.00%
• Median HH income: $68,291
• Composite: 54.01/100
• National rank: #3006
• State rank: #52 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): 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

+123.1% since first listed

13 events — show timeline

• 2026-06-04 Price Changed $145,000 NWMLS as Distributed by MLS Grid
• 2026-05-14 Listed $150,000 NWMLS as Distributed by MLS Grid
• 2022-10-07 Sold (MLS) $53,500 NWMLS as Distributed by MLS Grid
• 2022-09-23 Pending — NWMLS as Distributed by MLS Grid
• 2022-09-06 Relisted — NWMLS as Distributed by MLS Grid
• 2022-08-31 Pending — NWMLS as Distributed by MLS Grid
• 2022-08-26 Price Changed $58,950 NWMLS as Distributed by MLS Grid
• 2022-08-22 Price Changed $62,000 NWMLS as Distributed by MLS Grid
• 2022-08-11 Relisted — NWMLS as Distributed by MLS Grid
• 2022-08-10 Pending — NWMLS as Distributed by MLS Grid
• 2022-08-05 Relisted — NWMLS as Distributed by MLS Grid
• 2022-07-16 Pending — NWMLS as Distributed by MLS Grid
• 2022-07-14 Listed $65,000 NWMLS as Distributed by MLS Grid

Property tax history

+8.5%/yr

Latest (2026): $878 · +4.8% YoY. Source: county tax records.