8607 143rd Avenue Ct E #44 · Alderton, WA 98372

$55,000

2 bd · 2.0 ba · 1,148 sqft · Manufactured public records · 108 Days on market

Built 1980 $48/sqft · 15% below area Est $65k · 15% under

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Why this score? — see what drove the A- 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 +14.4/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +6.2/10.0
• Rent growth +3.6/5.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to a quiet and charming 55+ community in a prime location. This rare opportunity features a well-maintained, move-in-ready 2-bedroom, 2-bath home that has been meticulously cared for. Enjoy expansive open views from the spacious back deck, offering both covered and uncovered areas—ideal for relaxing or entertaining. Two storage units are conveniently built into the deck, and the community also offers additional RV storage for added flexibility. Pet restrictions apply; please contact park management for specific guidelines.

Key facts

• Spacious back deck
• Expansive open views
• Rv storage

Tags

• PRIME LOCATION
• EXPANSIVE OPEN VIEWS
• SPACIOUS BACK DECK
• STORAGE UNITS
• RV STORAGE

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $55k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $55k).
• Recommended offer: $50k (9.0% below list) — sets the bar for market timing.
• Cap rate 31.6% vs local median 2.5% in Alderton — 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 68/100 on livability (#269 in WA) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, cost of living F.
• Sumner School District (suburban): math 64% / reading 73% proficiency, ranked #18 of 291 in WA (top 6%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Daffodil Valley Elementary (495 students, 50% FRL); Sumner Middle School (677 students, 45% FRL); Sumner High School (1,728 students, 32% FRL) — zoned schools average 42% FRL vs 27% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+4.5%/yr); 169 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 1d 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 $380 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 + 4.5% rent growth), your $15k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 108 days — a 9% lower offer ($50k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 8y ago; this cycle's ask has dropped $24k (30%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $26k; list at $55k implies a 112% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $50,050 (9.0% below list)

Questions for the listing agent

1. It's been on market 108 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-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. 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.
6. 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.
7. 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: 3.56% ✓
• Cap rate: 31.56%
• Cash-on-cash: 90.23%
• DSCR: 5.01
• GRM: 2.3

CMA / ARV

• ARV (median comp): $65,000
• List price: $55,000
• Delta: -15.38%
• Verdict: UNDERPRICED
• Comps: 5 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8608 143rd Avenue Ct E #14	0.04mi	3/2.0 (+1)	1,230 (+7%)	4mo	$155,000	$126	78

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 · 4.46% rent growth · sell at horizon

5-year hold

• IRR: 92.6%
• Equity multiple: 5.40×
• Total profit: $67,796
• Equity at exit: $8,201

10-year hold

• IRR: 95.7%
• Equity multiple: 11.81×
• Total profit: $166,493
• Equity at exit: $4,755

Cash invested: $15,400 (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 98372

• Rents YoY: 4.5%
• Active inventory: 169
• Price-to-rent: 2.3×

Monthly cashflow live

• Estimated rent: $1,959 medium
• Mortgage (P&I): −$288
• Tax from tax record: −$78 /mo · $942/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$411
• Net cashflow: $1,158

Break-even live

Break-even rent $493

Max offer price $55,000

Occupancy floor 36%

Sensitivity live

Price	-10% $1,189	-5% $1,174	+0% $1,158	+5% $1,142	+10% $1,127
Rent	-10% $1,003	-5% $1,081	+0% $1,158	+5% $1,235	+10% $1,313
Rate	-1.0pp $1,186	-0.5pp $1,172	base $1,158	+0.5pp $1,144	+1.0pp $1,129

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: $13,750
• Closing costs: $1,650
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7413 142nd Ave E Sumner, WA	1.0	1.0	720	$1,713	$2.38	1d	5	0.75mi
3002 E Pioneer Puyallup, WA	2.0–3.0	1.5–2.0	981	$2,245	$2.29	0d	29	0.92mi
7105 142nd Ave E Unit A Sumner, WA	2.0	1.0	1150	$1,925	$1.67	26d	1	0.95mi
3107 E Main Ave Puyallup, WA	1.0–3.0	1.0–2.0	963	$2,108	$2.19	0d	30	1.32mi

Listing history 22 events

1. 2026-06-21
   days on market $55,000 Active 108 DOM
2. 2026-06-18
   days on market $55,000 Active 105 DOM
3. 2026-06-17
   days on market $55,000 Active 104 DOM
4. 2026-06-16
   days on market $55,000 Active 103 DOM
5. 2026-06-15
   days on market $55,000 Active 102 DOM
6. 2026-06-13
   days on market $55,000 Active 100 DOM
7. 2026-06-09
   days on market $55,000 Active 96 DOM
8. 2026-06-08
   days on market $55,000 Active 95 DOM
9. 2026-06-07
   days on market $55,000 Active 94 DOM
10. 2026-06-04
    days on market $55,000 Active 91 DOM
11. 2026-06-03
    days on market $55,000 Active 90 DOM
12. 2026-06-02
    days on market $55,000 Active 89 DOM
13. 2026-06-01
    days on market $55,000 Active 88 DOM
14. 2026-05-31
    days on market $55,000 Active 87 DOM
15. 2026-04-06
    price $55,000
16. 2026-03-05
    listed $79,000 Active
17. 2019-02-07
    soldstatus $26,000 Sold
18. 2019-01-22
    status Pending
19. 2019-01-09
    status Active
20. 2018-11-19
    status Pending
21. 2018-11-06
    price $27,500
22. 2018-10-15
    listed $35,000 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: $942 · $78/mo
• Projected year-2 tax: $942 · $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 6/10 Major FEMA zone X (unshaded) · 75% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥88°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 7/10 Severe 9 unhealthy d/yr today · 11 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,511
• − Mortgage interest: −$3,081
• − Property taxes: −$942
• − Insurance: −$275
• − Repairs & maintenance: −$1,881
• − Management: −$1,881
• − Depreciation: −$1,600
• Taxable income: $13,852
• Est. tax owed @ 24.0%: −$3,324
• After-tax cash flow: $10,571/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: Sumner School District
• NCES district ID: 5308610
• Math proficiency: 64% ▲ 1.00%
• Reading proficiency: 73% ▬ 0.00%
• Median HH income: $76,138
• Composite: 61.86/100
• National rank: #1497
• State rank: #18 of 291 in WA

Livability — Alderton

• Score: 68/100
• State rank: #269
• US rank: #9357

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Alderton, WA
• County: Pierce County · 788,257 people
• Metro: Seattle-Tacoma-Bellevue, WA
• Population (ZIP): 26,012
• Household income: $98,152
• Rent vs Own: 47.5% rent · 52.5% own
• Severe rent burden: 871.0

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 (73%)
• Race & ethnicity: White 73% Two or more races 10% Hispanic / Latino 8% Asian 6% Black 3% Pacific Islander 1%
• Hispanic origin (detail): Mexican 5% Puerto Rican 1%
• Common ancestry: Lithuanian 4% Romanian 4% Subsaharan African 3%
• Foreign-born: 13% · Canada, South Korea, China
• Languages at home: 81% English-only · Russian/Polish/Slavic 5% Spanish 4% Other Asian/Pacific 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: ▼ -283.81%
• Current HPI: 309.7871
• Rent YoY: ▲ 4.46%
• 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

+57.1% since first listed

8 events — show timeline

• 2026-04-06 Price Changed $55,000 NWMLS as Distributed by MLS Grid
• 2026-03-05 Listed $79,000 NWMLS as Distributed by MLS Grid
• 2019-02-07 Sold (MLS) $26,000 NWMLS as Distributed by MLS Grid
• 2019-01-22 Pending — NWMLS as Distributed by MLS Grid
• 2019-01-09 Relisted — NWMLS as Distributed by MLS Grid
• 2018-11-19 Pending — NWMLS as Distributed by MLS Grid
• 2018-11-06 Price Changed $27,500 NWMLS as Distributed by MLS Grid
• 2018-10-15 Listed $35,000 NWMLS as Distributed by MLS Grid

Property tax history

+7.5%/yr

Latest (2026): $942 · +11.4% YoY. Source: county tax records.