200 Bridle Way #249 · Terrace Heights, WA 98901

$234,000

2 bd · 2.0 ba · 1,271 sqft · SingleFamily public records · 51 Days on market

Built 2014 $184/sqft · at area comps Est $243k · at est. ↓ 15% since listing

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Why this score? — see what drove the F 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 +9.2/15.0
• Cash flow +6.8/30.0
• Schools +5.1/10.0
• Rent growth +4.8/5.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• 1% rule +1.2/10.0
• DSCR +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to Quail Run, Terrace Heights' Premier 55+ Gated Community! This charming single-level home offers approximately 1,271 sq. ft. of comfortable living space with 2 bedrooms, 2 full bathrooms, and an office/den. The open-concept kitchen features abundant cabinetry and generous counter space--perfect for both everyday living and entertaining. The primary suite includes a spacious en-suite bathroom with dual sinks and a walk-in shower. Enjoy the convenience of a dedicated laundry room, a two-car garage, and a fully fenced private yard with automatic sprinklers. Relax on the covered back patio and take in the peace and privacy. Residents of Quail Run enjoy access to a well-maintained club

Key facts

• Gated community
• Open-concept kitchen
• Covered back patio

Tags

• GATED COMMUNITY
• OPEN-CONCEPT KITCHEN
• DEDICATED LAUNDRY ROOM
• FULLY FENCED PRIVATE YARD
• COVERED BACK PATIO
• WELL-MAINTAINED CLUBHOUSE

Property features AI

Finance

• HOA & community: Community pool; Senior community

Exterior

• Parking: Attached garage with 2 spaces; Garage door opener
• Security: Gated community
• Utilities: Public water; Sewer connected; Cable available
• Home design: Manufactured home; Single-story
• Construction: Composition roof
• Exterior features: Garden; Level lot

Interior

• Kitchen: Dishwasher; Microwave; Range; Refrigerator; Oven
• Flooring: Carpet; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air conditioning; Electric forced-air heating
• Interior features: Garden (exterior-accessible landscaping mentioned in exterior features)

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $234k.

Deal economics

• At list price, monthly cash flow is $-363 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $170k (27.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $145k (38.1% below list).
• Recommended offer: $145k (38.1% below list) — sets the bar for 1% rule.
• Cap rate 4.4% vs local median 2.8% in Terrace Heights — 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 72/100 on livability (#210 in WA) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, employment A; Watch: amenities F, commute F.
• East Valley School District (Yakima) (suburban): math 54% / reading 61% proficiency, ranked #76 of 291 in WA (top 26%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Terrace Heights Elementary (473 students, 73% FRL); East Valley Central Middle School (801 students, 71% FRL); East Valley High School (1,036 students, 65% FRL) — zoned schools average 70% FRL vs 45% district-wide (25 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+9.3%/yr); 171 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 468 units permitted in Yakima County in 2024 (23 in 5+ unit buildings).
• This rent runs 30% of the median local income ($57k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Yakima County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 51 days — a 3% lower offer ($227k) is reasonable based on typical stale-listing flexibility.
• 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 $144,883 (38.1% 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 51 days. Have you received any prior offers? Is the seller open to a 38% concession, seller financing, or rate buy-down credit?
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. 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?
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: 0.62% ✗
• Cap rate: 4.43%
• Cash-on-cash: -6.65%
• DSCR: 0.70
• GRM: 13.5

CMA / ARV

• ARV (median comp): $243,000
• List price: $234,000
• Delta: -3.70%
• Verdict: FAIR
• Comps: 6 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
107 N 57th St	0.39mi	3/2.0 (+1)	1,219 (-4%)	0mo	$360,000	$295	70
206 S 58th St	0.30mi	3/2.0 (+1)	1,248 (-2%)	14mo	$350,000	$280	66
109 S 58th St	0.24mi	3/2.0 (+1)	1,178 (-7%)	11mo	$350,000	$297	62
5503 Mount Aix Way	0.54mi	3/2.0 (+1)	1,232 (-3%)	6mo	$327,000	$265	60
604 Locust Dr	0.57mi	2/1.0	1,224 (-4%)	14mo	$260,000	$212	52
5505 Morningside Dr	0.42mi	3/1.5 (+1)	1,344 (+6%)	16mo	$358,000	$266	51
5503 Morningside Dr	0.43mi	3/1.0 (+1)	1,344 (+6%)	20mo	$329,000	$245	45
5008 Manor Dr	0.70mi	2/2.0	1,376 (+8%)	24mo	$375,000	$273	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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -22.9%
• Equity multiple: 0.18×
• Total profit: $-53,422
• Equity at exit: $34,890

10-year hold

• IRR: -8.5%
• Equity multiple: 0.36×
• Total profit: $-41,619
• Equity at exit: $20,232

Cash invested: $65,520 (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 98901

• Home prices YoY: -33.4%
• Rents YoY: 9.3%
• Active inventory: 171
• Price-to-rent: 13.5×

Monthly cashflow live

• Estimated rent: $1,449 medium
• Mortgage (P&I): −$1,227
• Tax from tax record: −$183 /mo · $2,195/yr
• Insurance: −$98
• HOA: −$0
• Vacancy / Maint / Mgmt: −$304
• Net cashflow: $-363

Break-even live

Break-even rent $1,908

Max offer price $169,887

Occupancy floor —

Sensitivity live

Price	-10% $-230	-5% $-297	+0% $-363	+5% $-429	+10% $-495
Rent	-10% $-477	-5% $-420	+0% $-363	+5% $-306	+10% $-248
Rate	-1.0pp $-245	-0.5pp $-303	base $-363	+0.5pp $-424	+1.0pp $-485

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: $58,500
• Closing costs: $7,020
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5303 N Sky Vista Ave Yakima, WA	3.0	2.0	1512	$2,150	$1.42	15d	1	0.59mi

Listing history 19 events

1. 2026-06-22
   days on market $234,000 Active 51 DOM
2. 2026-06-19
   days on market $234,000 Active 49 DOM
3. 2026-06-18
   days on market $234,000 Active 48 DOM
4. 2026-06-17
   days on market $234,000 Active 47 DOM
5. 2026-06-16
   days on market $234,000 Active 46 DOM
6. 2026-06-15
   days on market $234,000 Active 45 DOM
7. 2026-06-14
   days on market $234,000 Active 43 DOM
8. 2026-06-13
   days on market $234,000 Active 42 DOM
9. 2026-06-10
   days on market $234,000 Active 40 DOM
10. 2026-06-09
    days on market $234,000 Active 39 DOM
11. 2026-06-08
    days on market $234,000 Active 38 DOM
12. 2026-06-07
    days on market $234,000 Active 37 DOM
13. 2026-06-03
    days on market $234,000 Active 33 DOM
14. 2026-06-02
    days on market $234,000 Active 32 DOM
15. 2026-06-01
    days on market $234,000 Active 31 DOM
16. 2026-05-31
    days on market $234,000 Active 30 DOM
17. 2026-05-30
    days on market $234,000 Active 29 DOM
18. 2026-05-01
    listed $234,000 Active 1082-char remark
19. 2025-05-30
    listed $275,000 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: $2,195 · $183/mo
• Projected year-2 tax: $2,293 · $191/mo
• Expected delta: +$99/yr (+$8/mo · 4.5%)

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

Taxation est. · year 1

• Rental income: $17,386
• − Mortgage interest: −$13,108
• − Property taxes: −$2,195
• − Insurance: −$1,170
• − Repairs & maintenance: −$1,391
• − Management: −$1,391
• − Depreciation: −$6,807
• Taxable loss: −$8,675
• Est. tax savings @ 24.0%: +$2,082
• After-tax cash flow: $-2,273/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: East Valley School District (Yakima)
• NCES district ID: 5305370
• Math proficiency: 54% ▲ 1.00%
• Reading proficiency: 61% ▲ 5.00%
• Median HH income: $57,936
• Composite: 51.46/100
• National rank: #3682
• State rank: #76 of 291 in WA

Livability — Terrace Heights

• Score: 72/100
• State rank: #210
• US rank: #5906

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Terrace Heights, WA
• County: Yakima County · 134,789 people
• Metro: Yakima, WA
• Population (ZIP): 31,366
• Household income: $57,392
• Rent vs Own: 50.0% rent · 50.0% own
• Severe rent burden: 1317.0

Population outlook (Yakima County) Hauer SSP2

• Today (2025): 256,514 people
• By 2030: 259,403 · +1.1%
• By 2040: 265,677 · +3.6%
• By 2050: 273,061 · +6.5%
• By 2075: 296,991 · +15.8%
• By 2100: 315,291 · +22.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority Hispanic (54%)
• Race & ethnicity: Hispanic / Latino 54% White 39% Two or more races 22% Native American 3% Black 1%
• Hispanic origin (detail): Mexican 49%
• Common ancestry: Italian 3% Lithuanian 2% Scottish 1%
• Foreign-born: 20% · Canada
• Languages at home: 53% English-only · Spanish 46%

Political lean MEDSL · Yakima

• 2024 margin: R (+14.3) · D 41.6% · R 55.9% · Other 2.5%
• 2008→2024 swing: -3.8pp toward R · 2008: -10.6pp · 2024: -14.3pp
• All cycles: 2024: R+14.3 2020: R+7.7 2016: R+15.4 2012: R+15.1 2008: R+10.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -144.24%
• Current HPI: 287.8283
• Rent YoY: ▲ 9.31%
• Metro: Yakima, 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

-14.9% since first listed

2 events — show timeline

• 2026-05-01 Listed $234,000 YAMLS
• 2025-05-30 Listed $275,000 YAMLS

Property tax history

+11.1%/yr

Latest (2026): $2,195 · +1.1% YoY. Source: county tax records.