5227 71st Avenue Ct E #28 · Fife, WA 98371

$50,000

3 bd · 2.0 ba · 1,236 sqft · Manufactured public records · 75 Days on market

Built 1972 $40/sqft · 75% below area ↓ 23% since listing

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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).

• Cash flow +15.0/30.0
• ARV discount +7.5/15.0
• Schools +5.4/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.6/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to easy, low-maintenance living in this beautifully updated 2-bedroom, 1.75-bath home in the well-kept 55+ community of Riverside Villas! Situated on a desirable corner lot, this spacious 1,236 sq ft double-wide offers a bright, open floor plan designed for comfort and functionality. Step inside to find newer flooring, updated appliances, and abundant natural light—including a skylight that adds warmth to the living space. The layout flows seamlessly from the living area to the kitchen and dining room, making it perfect for both everyday living and entertaining. Recent upgrades provide peace of mind, including a newer roof and a newly built carport for covered parking. Enjoy o

Key facts

• Updated appliances
• Newer flooring
• Newer roof

Tags

• UPDATED APPLIANCES
• NEWER FLOORING
• SKYLIGHT
• NEWER ROOF
• NEWLY BUILT CARPORT
• LARGE ENTERTAINMENT SIZED DECK

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $50k.

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 ($2k rent vs $50k).
• Recommended offer: $47k (6.0% below list) — sets the bar for market timing.
• Cap rate 42.0% vs local median 2.9% in Fife — 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 71/100 on livability (#225 in WA) — a middle-class / working-renter tenant base. Strengths: commute A+, employment A+, housing A+; Watch: crime F, amenities D-, 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.
• Market conditions: Rents rising (+1.4%/yr); 228 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 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 $346 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 $14k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 75 days — a 6% lower offer ($47k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $47,000 (6.0% below list)

Questions for the listing agent

1. It's been on market 75 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 4.57% ✓
• Cap rate: 41.96%
• Cash-on-cash: 127.39%
• DSCR: 6.67
• GRM: 1.8

CMA / ARV

• ARV (median comp): $198,448
• List price: $50,000
• Delta: -74.80%
• Verdict: UNDERPRICED
• Comps: 4 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5412 76th Ave E Unit B	0.26mi	3/2.0	1,352 (+9%)	8mo	$170,000	$126	66
7110 48th Street Ct E #46	0.31mi	3/2.0	1,120 (-9%)	14mo	$95,000	$85	59
5212 70th Ave E #8	0.11mi	3/2.0	1,073 (-13%)	17mo	$118,000	$110	59

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: —
• Equity multiple: 6.63×
• Total profit: $78,784
• Equity at exit: $7,455

10-year hold

• IRR: —
• Equity multiple: 13.21×
• Total profit: $170,981
• Equity at exit: $4,323

Cash invested: $14,000 (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 98371

• Rents YoY: 1.4%
• Active inventory: 228
• Price-to-rent: 1.8×

Monthly cashflow live

• Estimated rent: $2,284 medium
• Mortgage (P&I): −$262
• Tax from tax record: −$35 /mo · $422/yr
• Insurance: −$21
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$480
• Net cashflow: $1,420

Break-even live

Break-even rent $487

Max offer price $50,000

Occupancy floor 33%

Sensitivity live

Price	-10% $1,448	-5% $1,434	+0% $1,420	+5% $1,406	+10% $1,391
Rent	-10% $1,239	-5% $1,330	+0% $1,420	+5% $1,510	+10% $1,600
Rate	-1.0pp $1,445	-0.5pp $1,432	base $1,420	+0.5pp $1,407	+1.0pp $1,394

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: $12,500
• Closing costs: $1,500
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8009 50th St E Fife, WA	2.0	1.0	1100	$2,150	$1.95	19d	1	0.61mi
1503 18th St NW Puyallup, WA	1.0–2.0	1.0	840	$1,730	$2.06	11d	4	0.86mi
3351 70th Ave E Fife, WA	1.0–3.0	1.0–2.0	950	$2,599	$2.74	0d	12	1.20mi
1017 13th Street Ct NW Puyallup, WA	3.0	2.0	1250	$2,200	$1.76	44d	1	1.30mi

Listing history 17 events

1. 2026-06-21
   days on market $50,000 Active 75 DOM
2. 2026-06-18
   days on market $50,000 Active 72 DOM
3. 2026-06-17
   days on market $50,000 Active 71 DOM
4. 2026-06-16
   days on market $50,000 Active 70 DOM
5. 2026-06-15
   days on market $50,000 Active 69 DOM
6. 2026-06-13
   days on market $50,000 Active 67 DOM
7. 2026-06-13
   days on market $50,000 Active 66 DOM
8. 2026-06-09
   days on market $50,000 Active 63 DOM
9. 2026-06-08
   days on market $50,000 Active 62 DOM
10. 2026-06-07
    days on market $50,000 Active 61 DOM
11. 2026-06-04
    days on market $50,000 Active 58 DOM
12. 2026-06-03
    days on market $50,000 Active 57 DOM
13. 2026-06-02
    days on market $50,000 Active 56 DOM
14. 2026-06-01
    days on market $50,000 Active 55 DOM
15. 2026-05-31
    days on market $50,000 Active 54 DOM
16. 2026-05-19
    price $50,000
17. 2026-04-07
    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: $422 · $35/mo
• Projected year-2 tax: $490 · $41/mo
• Expected delta: +$68/yr (+$6/mo · 16.0%)

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

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (unshaded) · 78% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥89°F today · 16 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: $27,409
• − Mortgage interest: −$2,801
• − Property taxes: −$422
• − Insurance: −$1,048
• − Repairs & maintenance: −$2,193
• − Management: −$2,193
• − Depreciation: −$1,455
• Taxable income: $17,299
• Est. tax owed @ 24.0%: −$4,152
• After-tax cash flow: $12,885/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 — Fife

• Score: 71/100
• State rank: #225
• US rank: #6558

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Pierce County · 788,257 people
• City population: 11,816
• 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

-23.1% since first listed

2 events — show timeline

• 2026-05-19 Price Changed $50,000 NWMLS as Distributed by MLS Grid
• 2026-04-07 Listed $65,000 NWMLS as Distributed by MLS Grid

Property tax history

+10.7%/yr

Latest (2026): $422 · +10.7% YoY. Source: county tax records.