9007 53rd Avenue Ct E · Summit, WA 98446

$135,000

3 bd · 2.0 ba · 1,446 sqft · Manufactured · 9 Days on market

Built 1980 Good condition $93/sqft · 37% below area Est $213k · 37% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +3.9/10.0
• Rent growth +3.8/5.0
• Condition / age +3.8/5.0
• Livability +3.3/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome Home to this beautifully maintained doublewide manufactured home tucked away on a quiet dead end street in the Summit area! Situated on one of the largest lots in the park, this property offers a large fully fenced backyard with plenty of space for outdoor living, entertaining or pets. Inside you'll find a bright and functional layout featuring 3 spacious bedrooms, including a primary suite with a private 5 piece bath. The kitchen opens to the dining area and includes a breakfast bar perfect for everyday or casual gatherings. Enjoy the convenience of a carport, a large storage building and parking for up to 4 vehicles. This home offers a great combination of space, comfort and locat

Key facts

• Private 5 piece bath
• Breakfast bar
• 4 parking spots

Tags

• DOUBLEWIDE MANUFACTURED HOME
• QUIET DEAD END STREET
• LARGEST LOTS IN THE PARK
• FULLY FENCED BACKYARD
• PRIVATE 5 PIECE BATH
• BREAKFAST BAR

Property features AI

Finance

• Other: Listing terms: Cash or Conventional
• Financial info: Land lease amount applies
• HOA & community: Located in a park with 77 homes; Park approved for sale; Senior exemption available; High-speed internet available in park; Land lease

Exterior

• Parking: Carport
• Utilities: Electric energy source; Public water
• Home design: Manufactured double-wide home; One level; Good condition; Tie-down foundation
• Construction: Metal/vinyl construction materials; Metal roof; Metal skirt
• Exterior features: Metal/vinyl exterior; Patio/porch/deck; Dead-end street; Paved access; Mobile home remains on site

Interior

• Kitchen: Dishwasher; Refrigerator; Stove/Range
• Bedrooms: 3 bedrooms
• Flooring: Vinyl plank; Carpet
• Bathrooms: 2 full bathrooms; 2 bathtubs; 2 showers
• Heating & cooling: Forced air heating; No central cooling
• Interior features: Water heater; Double pane windows; Bath off primary; Patio/porch/deck
• Laundry & utility: Washer; Dryer; Laundry room with electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $135k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $895 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $135k).
• Cap rate 14.2% vs local median 2.5% in Summit — 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 66/100 on livability (#318 in WA) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, employment A; Watch: schools D-, amenities F, commute F.
• Franklin Pierce School District (suburban): math 35% / reading 51% proficiency, ranked #197 of 291 in WA (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+5.2%/yr); 116 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals leasing fast (median 5d 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $933 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 + 5.2% rent growth), your $38k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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.

Recommended offer $135,000

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. 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?
3. 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.
4. 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.
5. 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: 1.71% ✓
• Cap rate: 14.25%
• Cash-on-cash: 28.42%
• DSCR: 2.26
• GRM: 4.9

CMA / ARV

• ARV (median comp): $212,750
• List price: $135,000
• Delta: -36.55%
• Verdict: UNDERPRICED
• Comps: 16 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
9314 Canyon Rd E #85	0.17mi	3/2.0	1,460 (+1%)	0mo	$119,000	$82	90
9314 Canyon Rd E #39	0.17mi	3/2.0	1,504 (+4%)	3mo	$168,000	$112	83
5115 88th Street Ct E #29	0.18mi	2/2.0 (-1)	1,436 (-1%)	9mo	$129,950	$90	78
9314 Canyon Rd E #82	0.17mi	2/2.0 (-1)	1,526 (+6%)	5mo	$100,000	$66	74
5801 89th Street Ct E #5	0.32mi	3/2.0	1,496 (+4%)	10mo	$151,000	$101	71
9314 Canyon Rd E #23	0.17mi	3/2.0	1,539 (+6%)	15mo	$160,000	$104	69
6022 89th Street Ct E #20	0.48mi	3/2.0	1,528 (+6%)	2mo	$257,500	$169	67
9314 Canyon Rd E #74	0.17mi	2/2.0 (-1)	1,330 (-8%)	8mo	$135,000	$102	67
5123 88th Street Ct E	0.17mi	3/2.0	1,336 (-8%)	17mo	$114,800	$86	66
5902 89th Street Ct E #11	0.37mi	2/2.0 (-1)	1,596 (+10%)	1mo	$289,000	$181	59
6012 91st Street Ct E	0.46mi	3/2.0	1,599 (+11%)	10mo	$309,000	$193	52
6021 90th Street Ct E #109	0.47mi	3/2.0	1,648 (+14%)	11mo	$325,000	$197	46

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 · 5.17% rent growth · sell at horizon

5-year hold

• IRR: 25.1%
• Equity multiple: 2.07×
• Total profit: $40,329
• Equity at exit: $20,129

10-year hold

• IRR: 34.2%
• Equity multiple: 4.46×
• Total profit: $130,809
• Equity at exit: $11,672

Cash invested: $37,800 (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 98446

• Rents YoY: 5.2%
• Active inventory: 116
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $2,314 high
• Mortgage (P&I): −$708
• Tax est. 1.5%: −$169 /mo · $2,025/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$486
• Net cashflow: $895

Break-even live

Break-even rent $1,181

Max offer price $135,000

Occupancy floor 56%

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4016 84th St E Tacoma, WA	3.0	1.0	940	$1,695	$1.80	10d	1	0.80mi
2506 103rd St E Puyallup, WA	2.0	1.0	1025	$1,877	$1.83	4d	3	0.86mi
6406 104th St E Unit 6402 Puyallup, WA	2.0	1.0	900	$1,600	$1.78	44d	1	1.18mi
10823 50th Ave E Tacoma, WA	1.0–2.0	1.0–2.0	916	$2,391	$2.61	2d	3	1.20mi
5923 111th Street Ct E Puyallup, WA	3.0	2.5	1364	$2,600	$1.91	2d	1	1.37mi
6115 111th St E Puyallup, WA	1.0–3.0	1.0–2.0	911	$2,391	$2.62	2d	16	1.40mi
5909 111th Street Ct E Puyallup, WA	3.0	2.5	1356	$2,395	$1.77	15d	1	1.41mi
5617 112th St E Puyallup, WA	1.0–3.0	1.0–2.0	947	$2,195	$2.32	11d	17	1.42mi
9604 S Fruitland Unit 7502 Puyallup, WA	2.0	2.0	1492	$2,500	$1.68	2d	1	1.45mi

Listing history 3 events

1. 2026-06-19
   statusdays on market $135,000 Active 9 DOM
2. 2026-05-11
   status Pending
3. 2026-05-01
   listed $135,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 7/10 Severe 10 unhealthy d/yr today · 12 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,768
• − Mortgage interest: −$7,562
• − Property taxes: −$2,025
• − Insurance: −$675
• − Repairs & maintenance: −$2,221
• − Management: −$2,221
• − Depreciation: −$3,927
• Taxable income: $9,135
• Est. tax owed @ 24.0%: −$2,193
• After-tax cash flow: $8,548/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.

Condition & rehab AI · 12 photos

Good 75/100 Cosmetic rehab

This well-maintained doublewide manufactured home offers a good condition with minimal repairs needed. It's located on a quiet street with a large, fenced backyard, making it ideal for families or those seeking a peaceful living environment.

Value-add opportunities

• Resale Paint exterior siding — Enhances curb appeal and value
• Both Replace carpet in bedrooms — Improves comfort and appearance
• Both Install modern light fixtures — Modernizes the space and enhances curb appeal

Renovation cost estimate screening

Value-add ROI direction

• Resale Paint exterior siding — Enhances curb appeal and value ↑
• Both Replace carpet in bedrooms — Improves comfort and appearance ↑
• Both Install modern light fixtures — Modernizes the space and enhances curb appeal ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Franklin Pierce School District
• NCES district ID: 5302940
• Math proficiency: 35% ▬ 0.00%
• Reading proficiency: 51% ▲ 2.00%
• Median HH income: $49,240
• Composite: 39.18/100
• National rank: #8227
• State rank: #197 of 291 in WA

Livability — Summit

• Score: 66/100
• State rank: #318
• US rank: #11661

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Summit, WA
• County: Pierce County · 788,257 people
• Metro: Seattle-Tacoma-Bellevue, WA
• Population (ZIP): 14,634
• Household income: $101,938
• Rent vs Own: 33.2% rent · 66.8% own
• Severe rent burden: 246.0

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 0.59)
• Race & ethnicity: White 61% Two or more races 17% Hispanic / Latino 17% Black 6% Asian 4% Pacific Islander 3% Native American 2%
• Hispanic origin (detail): Mexican 11% Puerto Rican 1%
• Common ancestry: Portuguese 4% Serbian 3% Italian 3%
• Foreign-born: 7% · Canada, South Korea
• Languages at home: 80% English-only · Spanish 11% Other Asian/Pacific 3% Russian/Polish/Slavic 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: ▼ -562.34%
• Current HPI: 322.6286
• Rent YoY: ▲ 5.17%
• 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

3 events — show timeline

• 2026-06-18 Relisted — NWMLS as Distributed by MLS Grid
• 2026-05-11 Pending — NWMLS as Distributed by MLS Grid
• 2026-05-01 Listed $135,000 NWMLS as Distributed by MLS Grid