715 S 141st St · Parkland, WA 98444

$425,000

4 bd · 2.0 ba · 1,488 sqft · SingleFamily public records · 77 Days on market

Built 1942 0.26 ac lot $286/sqft · 8% below area Est $473k · 10% under

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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).

• ARV discount +12.0/15.0
• Appreciation +10.0/10.0
• Cash flow +5.7/30.0
• Schools +3.9/10.0
• Livability +3.9/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• 1% rule +0.7/10.0
• DSCR +0.1/10.0

Listing remarks

Great opportunity for a first-time buyer or investor! This home sits on an extra-large lot, offering ample space for expansion, outdoor living, or future development. Step outside to enjoy mature landscaping and a covered patio—perfect for relaxing or entertaining year-round. With its generous lot size and solid improvements already in place, this property presents a rare combination of comfort today and upside for tomorrow. Buyer to verify schools.

Key facts

• Extra-large lot
• Covered patio
• Mature landscaping

Tags

• EXTRA-LARGE LOT
• MATURE LANDSCAPING
• COVERED PATIO

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $425k.

Deal economics

• At list price, monthly cash flow is $-873 ($-10k/yr) — negative.
• To cash-flow at today's rent, offer at most $271k (36.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $244k (42.6% below list).
• Recommended offer: $244k (42.6% below list) — sets the bar for 1% rule.
• Cap rate 3.8% vs local median 2.3% in Parkland — 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 77/100 on livability (#148 in WA, #3,068 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, health & safety A+; Watch: amenities D+, crime 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 (+2.9%/yr); 159 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 0d on market — plan ~1-2 weeks tenant-placement turnaround); 3,209 units permitted in Pierce County in 2024 (1,269 in 5+ unit buildings).
• This rent runs 45% of the median local income ($65k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $45k of equity ($3k loan paydown + $42k appreciation (10.0% local appreciation)).
• Pierce County population projected at +26% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$73k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 77 days — a 6% lower offer ($400k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 20y ago; this cycle's ask has dropped $25k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $210k; list at $425k implies a 102% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1942 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $243,757 (42.6% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 77 days. Have you received any prior offers? Is the seller open to a 43% concession, seller financing, or rate buy-down credit?
3. Built in 1942 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.57% ✗
• Cap rate: 3.83%
• Cash-on-cash: -8.80%
• DSCR: 0.61
• GRM: 14.5

CMA / ARV

• ARV (median comp): $472,768
• List price: $425,000
• Delta: -10.10%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
710 138th St S	0.10mi	3/1.5 (-1)	1,456 (-2%)	3mo	$460,000	$316	82
602 142nd St S	0.14mi	3/2.0 (-1)	1,646 (+11%)	2mo	$485,000	$295	69
13517 11th Ave S	0.48mi	3/1.5 (-1)	1,428 (-4%)	1mo	$475,000	$333	63
14308 10 Ave S	0.34mi	3/1.5 (-1)	1,363 (-8%)	4mo	$380,000	$279	60
910 138th St S	0.26mi	3/2.0 (-1)	1,305 (-12%)	5mo	$433,000	$332	58
13713 2nd Avenue Ct E	0.64mi	3/2.0 (-1)	1,536 (+3%)	5mo	$516,000	$336	56
1310 133rd St S	0.71mi	3/2.0 (-1)	1,504 (+1%)	6mo	$475,000	$316	55
721 134th St S	0.41mi	3/1.0 (-1)	1,340 (-10%)	1mo	$350,000	$261	54
14023 14 Ave S	0.52mi	3/1.0 (-1)	1,400 (-6%)	5mo	$419,950	$300	53
819 134th St S	0.43mi	3/2.5 (-1)	1,298 (-13%)	2mo	$480,000	$370	50
14516 2nd Ave E	0.66mi	3/2.0 (-1)	1,344 (-10%)	2mo	$420,000	$313	46
164 134th Street Ct E	0.66mi	3/2.0 (-1)	1,301 (-13%)	7mo	$495,000	$380	38

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 2.93% rent growth · sell at horizon

5-year hold

• IRR: 18.1%
• Equity multiple: 2.48×
• Total profit: $175,658
• Equity at exit: $382,874

10-year hold

• IRR: 16.9%
• Equity multiple: 5.71×
• Total profit: $560,555
• Equity at exit: $825,682

Cash invested: $119,000 (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 98444

• Home prices YoY: 3.6%
• Rents YoY: 2.9%
• Active inventory: 159
• Price-to-rent: 14.5×

Monthly cashflow live

• Estimated rent: $2,438 medium
• Mortgage (P&I): −$2,229
• Tax from tax record: −$393 /mo · $4,712/yr
• Insurance: −$177
• HOA: −$0
• Vacancy / Maint / Mgmt: −$512
• Net cashflow: $-873

Break-even live

Break-even rent $3,542

Max offer price $270,819

Occupancy floor —

Sensitivity live

Price	-10% $-632	-5% $-752	+0% $-873	+5% $-993	+10% $-1,113
Rent	-10% $-1,065	-5% $-969	+0% $-873	+5% $-776	+10% $-680
Rate	-1.0pp $-659	-0.5pp $-765	base $-873	+0.5pp $-983	+1.0pp $-1,095

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: $106,250
• Closing costs: $12,750
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
14007 A St S Parkland, WA	1.0–3.0	1.0–2.0	1006	$2,295	$2.28	0d	4	0.56mi
14601 1st Ave S Parkland, WA	3.0	2.5	1493	$2,595	$1.74	0d	2	0.61mi
15326 4th Avenue Ct E Tacoma, WA	3.0	2.5	1840	$2,750	$1.49	0d	1	1.16mi
1223 121st St S Tacoma, WA	5.0	1.0	1469	$2,225	$1.51	44d	1	1.32mi

Listing history 20 events

1. 2026-06-21
   days on market $425,000 Active 77 DOM
2. 2026-06-18
   days on market $425,000 Active 74 DOM
3. 2026-06-17
   days on market $425,000 Active 73 DOM
4. 2026-06-16
   days on market $425,000 Active 72 DOM
5. 2026-06-15
   days on market $425,000 Active 71 DOM
6. 2026-06-13
   days on market $425,000 Active 69 DOM
7. 2026-06-13
   days on market $425,000 Active 68 DOM
8. 2026-06-09
   days on market $425,000 Active 65 DOM
9. 2026-06-08
   days on market $425,000 Active 64 DOM
10. 2026-06-07
    days on market $425,000 Active 63 DOM
11. 2026-06-04
    days on market $425,000 Active 60 DOM
12. 2026-06-03
    days on market $425,000 Active 59 DOM
13. 2026-06-02
    days on market $425,000 Active 58 DOM
14. 2026-06-01
    days on market $425,000 Active 57 DOM
15. 2026-05-31
    days on market $425,000 Active 56 DOM
16. 2026-05-14
    price $425,000
17. 2026-04-05
    listed $450,000 Active
18. 2006-11-03
    soldstatus $210,000
19. 2006-11-03
    soldstatus $210,000
20. 2006-07-18
    listed $210,000

ⓘ 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: $4,712 · $393/mo
• Projected year-2 tax: $4,712 · $393/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 ≥87°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 7/10 Severe 9 unhealthy d/yr today · 10 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,251
• − Mortgage interest: −$23,807
• − Property taxes: −$4,712
• − Insurance: −$2,125
• − Repairs & maintenance: −$2,340
• − Management: −$2,340
• − Depreciation: −$12,364
• Taxable loss: −$18,436
• Est. tax savings @ 24.0%: +$4,425
• After-tax cash flow: $-6,049/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: 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 — Parkland

• Score: 77/100
• State rank: #148
• US rank: #3068

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Parkland, WA
• County: Pierce County · 788,257 people
• City population: 36,624
• Metro: Seattle-Tacoma-Bellevue, WA
• Population (ZIP): 35,754
• Household income: $65,342
• Rent vs Own: 56.0% rent · 44.0% own
• Severe rent burden: 2169.0

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 0.77)
• Race & ethnicity: White 40% Hispanic / Latino 19% Two or more races 17% Black 16% Asian 11% Pacific Islander 4% Native American 1%
• Hispanic origin (detail): Mexican 13% Puerto Rican 1%
• Common ancestry: Portuguese 3% Scotch-Irish 2% Swedish 1%
• Foreign-born: 21% · Canada, South Korea, Vietnam
• Languages at home: 68% English-only · Spanish 13% Other Asian/Pacific 6% Korean 3%

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: ▲ 45.01%
• Current HPI: 1297.51
• Rent YoY: ▲ 2.93%
• 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

+102.4% since first listed

5 events — show timeline

• 2026-05-14 Price Changed $425,000 NWMLS as Distributed by MLS Grid
• 2026-04-05 Listed $450,000 NWMLS as Distributed by MLS Grid
• 2006-11-03 Sold (Public Records) $210,000 Public Records
• 2006-11-03 Sold (MLS) $210,000 NWMLS as Distributed by MLS Grid
• 2006-07-18 Listed $210,000 NWMLS as Distributed by MLS Grid

Property tax history

+4.6%/yr

Latest (2026): $4,712 · +5.9% YoY. Source: county tax records.