5814 79th Street Ct E #69 · Waller, WA 98371

$79,999

3 bd · 2.0 ba · 1,528 sqft · Manufactured public records · 172 Days on market

Built 1975 $52/sqft · 34% below area Est $122k · 34% under

---

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 +5.4/10.0
• Livability +3.5/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome home to this inviting 3-bedroom, 1.75-bath home offering 1,528 sq. ft. of comfortable living space. Enjoy brand-new vinyl plank flooring throughout the main living areas and new carpet in all three bedrooms. The updated tile walk-in shower adds a modern touch, while the cozy pellet stove creates the perfect atmosphere for relaxing evenings. A newer roof provides added peace of mind. Located in the desirable Crestview West 55+ community, this home features low monthly rent that includes water and sewer. Conveniently close to medical facilities, shopping, and the Washington State Fair.

Key facts

• Tile walk-in shower
• Newer roof
• Pellet stove

Tags

• VINYL PLANK FLOORING
• TILE WALK-IN SHOWER
• PELLET STOVE
• NEWER ROOF
• CRESTVIEW WEST COMMUNITY
• CLOSE TO MEDICAL FACILITIES

🏷️ Possibly a rental listed for sale. The $79,999 price doesn't fit this home's estimated sale value (~$121,984) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $80k.

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 ($3k rent vs $80k).
• Recommended offer: $70k (12.0% below list) — sets the bar for market timing.
• Cap rate 28.2% vs local median 2.1% in Waller — 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 69/100 on livability (#254 in WA) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime B; Watch: health & safety C-, commute D+, schools D-.
• 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.
• Market conditions: Rents rising (+1.4%/yr); 227 active listings in the ZIP; solid renter incomes; 3,209 units permitted in Pierce County in 2024 (1,269 in 5+ unit buildings).
• This rent runs 31% of the median local income ($97k/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 $553 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 + 1.4% rent growth), your $22k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 172 days — a 12% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 13y ago; this cycle's ask has dropped $35k (30%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $65k; 23% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $70,399 (12.0% below list)

Questions for the listing agent

1. It's been on market 172 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 3.15% ✓
• Cap rate: 28.15%
• Cash-on-cash: 78.06%
• DSCR: 4.47
• GRM: 2.6

CMA / ARV

• ARV (median comp): $121,984
• List price: $79,999
• Delta: -13.96%
• 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
6106 78th Street Ct E #2	0.20mi	3/2.0	1,568 (+3%)	6mo	$120,000	$77	81
5808 78th Street Ct E #89	0.09mi	3/2.0	1,436 (-6%)	8mo	$102,000	$71	79
6022 89th Street Ct E #20	0.64mi	3/2.0	1,528 (0%)	2mo	$257,500	$169	69
5801 89th Street Ct E #5	0.60mi	3/2.0	1,496 (-2%)	10mo	$151,000	$101	60
5902 89th Street Ct E #11	0.63mi	2/2.0 (-1)	1,596 (+4%)	1mo	$289,000	$181	57
6011 89th St E #59	0.57mi	2/2.0 (-1)	1,692 (+11%)	4mo	$280,000	$165	48
6021 90th Street Ct E #109	0.67mi	3/2.0	1,648 (+8%)	11mo	$325,000	$197	47
5115 88th Street Ct E #29	0.69mi	2/2.0 (-1)	1,436 (-6%)	9mo	$129,950	$90	45
6124 91ST St E #148	0.74mi	3/2.0	1,716 (+12%)	6mo	$310,000	$181	40
5916 89th Street Ct E #14	0.63mi	2/2.0 (-1)	1,712 (+12%)	10mo	$350,100	$204	37
6010 89th Street Ct E #17	0.63mi	2/2.0 (-1)	1,711 (+12%)	14mo	$360,000	$210	34
5123 88th Street Ct E	0.68mi	3/2.0	1,336 (-13%)	17mo	$114,800	$86	33

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 · 1.41% rent growth · sell at horizon

5-year hold

• IRR: 76.3%
• Equity multiple: 4.39×
• Total profit: $75,904
• Equity at exit: $11,928

10-year hold

• IRR: 79.6%
• Equity multiple: 8.59×
• Total profit: $169,946
• Equity at exit: $6,917

Cash invested: $22,400 (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 98371

• Rents YoY: 1.4%
• Active inventory: 227
• Price-to-rent: 2.6×

Monthly cashflow live

• Estimated rent: $2,517 medium
• Mortgage (P&I): −$420
• Tax from tax record: −$78 /mo · $939/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$529
• Net cashflow: $1,457

Break-even live

Break-even rent $672

Max offer price $79,999

Occupancy floor 37%

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: $20,000
• Closing costs: $2,400
• Reserves months: —
• Total cash needed: —

Listing history 29 events

1. 2026-06-18
   days on market $79,999 Active 172 DOM
2. 2026-06-17
   price $79,999 Active 171 DOM
3. 2026-06-17
   days on market $104,955 Active 171 DOM
4. 2026-06-16
   days on market $104,955 Active 170 DOM
5. 2026-06-15
   days on market $104,955 Active 169 DOM
6. 2026-06-13
   days on market $104,955 Active 167 DOM
7. 2026-06-13
   days on market $104,955 Active 166 DOM
8. 2026-06-09
   days on market $104,955 Active 163 DOM
9. 2026-06-08
   days on market $104,955 Active 162 DOM
10. 2026-06-07
    days on market $104,955 Active 161 DOM
11. 2026-06-04
    days on market $104,955 Active 158 DOM
12. 2026-06-03
    days on market $104,955 Active 157 DOM
13. 2026-06-02
    days on market $104,955 Active 156 DOM
14. 2026-06-01
    days on market $104,955 Active 155 DOM
15. 2026-05-31
    days on market $104,955 Active 154 DOM
16. 2026-04-07
    price $104,955
17. 2026-02-20
    price $109,955
18. 2025-12-28
    listed $114,955 Active
19. 2023-03-01
    soldstatus $65,000 Closed
20. 2023-02-04
    status Pending
21. 2023-01-21
    price $65,000
22. 2023-01-14
    status Active
23. 2023-01-02
    status Pending
24. 2022-12-15
    listed $70,000 Active
25. 2013-05-22
    status Pending Inspection
26. 2013-05-21
    status Pending
27. 2013-05-17
    soldstatus $15,000 Sold
28. 2013-04-12
    price $16,500
29. 2013-03-16
    listed $18,950 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: $939 · $78/mo
• Projected year-2 tax: $939 · $78/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 11 unhealthy d/yr today · 12 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,202
• − Mortgage interest: −$4,481
• − Property taxes: −$939
• − Insurance: −$400
• − Repairs & maintenance: −$2,416
• − Management: −$2,416
• − Depreciation: −$2,327
• Taxable income: $17,222
• Est. tax owed @ 24.0%: −$4,133
• After-tax cash flow: $13,353/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 — Waller

• Score: 69/100
• State rank: #254
• US rank: #8174

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Waller, WA
• County: Pierce County · 788,257 people
• City population: 5,787
• Metro: Seattle-Tacoma-Bellevue, WA
• Population (ZIP): 24,682
• Household income: $97,242
• Rent vs Own: 28.1% rent · 71.9% own
• Severe rent burden: 507.0

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: Predominantly White (70%)
• Race & ethnicity: White 70% Two or more races 12% Hispanic / Latino 11% Asian 6% Black 4%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Portuguese 5% Slovak 3% Italian 2%
• Foreign-born: 10% · Canada, South Korea, Vietnam
• Languages at home: 85% English-only · Spanish 5% Korean 2% Vietnamese 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: ▼ -580.45%
• Current HPI: 295.2143
• Rent YoY: ▲ 1.41%
• 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

+453.9% since first listed

14 events — show timeline

• 2026-04-07 Price Changed $104,955 NWMLS as Distributed by MLS Grid
• 2026-02-20 Price Changed $109,955 NWMLS as Distributed by MLS Grid
• 2025-12-28 Listed $114,955 NWMLS as Distributed by MLS Grid
• 2023-03-01 Sold (MLS) $65,000 NWMLS as Distributed by MLS Grid
• 2023-02-04 Pending — NWMLS as Distributed by MLS Grid
• 2023-01-21 Price Changed $65,000 NWMLS as Distributed by MLS Grid
• 2023-01-14 Relisted — NWMLS as Distributed by MLS Grid
• 2023-01-02 Pending — NWMLS as Distributed by MLS Grid
• 2022-12-15 Listed $70,000 NWMLS as Distributed by MLS Grid
• 2013-05-22 Pending — NWMLS as Distributed by MLS Grid
• 2013-05-21 Pending — NWMLS as Distributed by MLS Grid
• 2013-05-17 Sold (MLS) $15,000 NWMLS as Distributed by MLS Grid
• 2013-04-12 Price Changed $16,500 NWMLS as Distributed by MLS Grid
• 2013-03-16 Listed $18,950 NWMLS as Distributed by MLS Grid

Property tax history

+8.5%/yr

Latest (2026): $939 · +21.0% YoY. Source: county tax records.