4210 252nd Street Ct E · Elk Plain, WA 98387

$254,900

3 bd · 2.0 ba · 1,188 sqft · Manufactured public records · 2 Days on market

Built 1985 0.34 ac lot Est $381k · 33% under

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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 +24.6/30.0
• ARV discount +15.0/15.0
• DSCR +7.9/10.0
• 1% rule +6.1/10.0
• Schools +4.9/10.0
• Rent growth +3.6/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Great value for this 3 bed, 2 bath manufactured home situated on a spacious 1/3-acre lot with a peaceful park-like setting! Enjoy the beauty of mature apple and pear trees, a stunning red maple, and an abundance of colorful flowers throughout the property. The fully fenced yard offers privacy, space for pets, gardening, entertaining, or simply relaxing outdoors. Plenty of room to create your dream garden and outdoor living areas. Inside, enjoy the cozy wood stove or keep cool with the A/C. Conveniently located with room to grow, this property is perfect for buyers looking to add their personal touch and build equity. Home needs TLC and is being sold As-Is, offering a fantastic opportunity f

Key facts

• Cozy wood stove
• Spacious lot
• Park-like setting

Tags

• SPACIOUS LOT
• PARK-LIKE SETTING
• MATURE APPLE TREES
• MATURE PEAR TREES
• FULLY FENCED YARD
• COZY WOOD STOVE

Property features AI

Finance

• Financial info: Listing terms: Cash or Conventional

Exterior

• Parking: Detached carport; Driveway; One covered parking space; Four uncovered parking spaces
• Security: Fully fenced
• Utilities: Public water (WA Water Co); Septic sewer; Power by TPU; Electric energy source
• Home design: Manufactured home (double wide) on land; Single-level (one story); Main-level entry; Tie-down foundation; Composition roof
• Construction: Wood construction
• Exterior features: Wood products exterior; Fully fenced yard; Fenced–fully; Fruit trees; Garden space; Cul-de-sac location; Paved lot

Interior

• Kitchen: Kitchen with eating space; Refrigerator; Stove/Range
• Bedrooms: Three bedrooms (all on the main level); Primary bedroom (main level)
• Flooring: Laminate; Vinyl; Carpet
• Bathrooms: Two full bathrooms (both on the main level); Two bathtubs and two showers
• Heating & cooling: Forced air heating; Heat pump; Stove/free-standing heating option; Central air conditioning
• Interior features: Ceiling fans; Wood burning fireplace; Walk-in closet(s); Water heater (electric, located in hall closet)
• Laundry & utility: Washer; Dryer; Utility room (main level)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $255k.

Deal economics

• At list price, monthly cash flow is $525 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $255k).
• Cap rate 8.8% vs local median 4.0% in Elk Plain — 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 63/100 on livability (#379 in WA) — a middle-class / working-renter tenant base. Strengths: housing A+, employment A-; Watch: crime C-, health & safety C-, cost of living D+.
• Bethel School District (suburban): math 47% / reading 59% proficiency, ranked #103 of 291 in WA (top 35%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+4.2%/yr); 388 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 32% of the median local income ($107k/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 $8k 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 + 4.2% rent growth), your $71k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $17k; list at $255k implies a 1404% gain — meaningful room to come down on a strong offer.

Recommended offer $254,900

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 1.11% ✓
• Cap rate: 8.77%
• Cash-on-cash: 8.83%
• DSCR: 1.39
• GRM: 7.5

CMA / ARV

• ARV (on-the-fly): $381,348
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4210 252nd Street Ct E	0.00mi	3/2.0	1,188 (0%)	1mo	$255,000	$215	100
24917 43rd Ave E	0.21mi	3/2.0	1,120 (-6%)	20mo	$360,000	$321	64
4325 E 245th St	0.52mi	3/2.0	1,294 (+9%)	3mo	$400,000	$309	58
25309 52nd Ave E	0.61mi	3/2.0	1,279 (+8%)	1mo	$436,000	$341	58
25405 36th Ave E	0.41mi	3/2.0	1,296 (+9%)	10mo	$440,000	$340	57
3106 253rd Street Ct E	0.71mi	2/2.0 (-1)	1,192 (+0%)	8mo	$350,000	$294	55
24909 51st Ave E	0.59mi	3/2.0	1,296 (+9%)	8mo	$424,950	$328	51
24903 51st Ave E	0.60mi	3/2.0	1,296 (+9%)	8mo	$420,000	$324	50
24817 50th Ave E	0.55mi	3/2.0	1,296 (+9%)	13mo	$425,000	$328	48
3205 248th Street Ct E	0.71mi	3/2.0	1,296 (+9%)	6mo	$347,500	$268	46
24952 51st Ave E	0.54mi	2/2.0 (-1)	1,152 (-3%)	22mo	$130,000	$113	46
5325 254th St E	0.68mi	2/2.0 (-1)	1,140 (-4%)	15mo	$295,000	$259	44

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 · 4.24% rent growth · sell at horizon

5-year hold

• IRR: -1.6%
• Equity multiple: 0.94×
• Total profit: $-4,267
• Equity at exit: $38,006

10-year hold

• IRR: 9.4%
• Equity multiple: 1.76×
• Total profit: $54,449
• Equity at exit: $22,039

Cash invested: $71,372 (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 98387

• Rents YoY: 4.2%
• Active inventory: 388
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $2,830 medium
• Mortgage (P&I): −$1,337
• Tax from tax record: −$268 /mo · $3,214/yr
• Insurance: −$106
• HOA: −$0
• Vacancy / Maint / Mgmt: −$594
• Net cashflow: $525

Break-even live

Break-even rent $2,165

Max offer price $254,900

Occupancy floor 76%

Sensitivity live

Price	-10% $670	-5% $597	+0% $525	+5% $453	+10% $381
Rent	-10% $302	-5% $413	+0% $525	+5% $637	+10% $749
Rate	-1.0pp $654	-0.5pp $590	base $525	+0.5pp $459	+1.0pp $392

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: $63,725
• Closing costs: $7,647
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-05-17
   status Pending
2. 2026-05-15
   listed $254,900 Active
3. 1984-12-21
   soldstatus $16,950

ⓘ 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: $3,214 · $268/mo
• Projected year-2 tax: $3,214 · $268/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 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥87°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 6/10 Major 7 unhealthy d/yr today · 9 by 30 yrs out

Taxation est. · year 1

• Rental income: $33,964
• − Mortgage interest: −$14,278
• − Property taxes: −$3,214
• − Insurance: −$1,274
• − Repairs & maintenance: −$2,717
• − Management: −$2,717
• − Depreciation: −$7,415
• Taxable income: $2,348
• Est. tax owed @ 24.0%: −$563
• After-tax cash flow: $5,739/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: Bethel School District
• NCES district ID: 5300480
• Math proficiency: 47% ▬ 0.00%
• Reading proficiency: 59% ▲ 2.00%
• Median HH income: $65,872
• Composite: 48.66/100
• National rank: #4568
• State rank: #103 of 291 in WA

Livability — Elk Plain

• Score: 63/100
• State rank: #379
• US rank: #14927

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Elk Plain, WA
• County: Pierce County · 788,257 people
• City population: 49,940
• Metro: Seattle-Tacoma-Bellevue, WA
• Population (ZIP): 50,774
• Household income: $106,872
• Rent vs Own: 22.6% rent · 77.4% own
• Severe rent burden: 807.0

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: Diverse neighborhood (Simpson 0.68)
• Race & ethnicity: White 53% Two or more races 18% Hispanic / Latino 16% Black 10% Asian 6% Pacific Islander 4%
• Hispanic origin (detail): Mexican 10% Puerto Rican 2%
• Common ancestry: Portuguese 3% Italian 3% Slovak 2%
• Foreign-born: 11% · Canada, South Korea
• Languages at home: 82% English-only · Spanish 7% Russian/Polish/Slavic 2% Other Asian/Pacific 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: ▼ -208.94%
• Current HPI: 308.0462
• Rent YoY: ▲ 4.24%
• 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

+1403.8% since first listed

3 events — show timeline

• 2026-05-17 Pending — NWMLS as Distributed by MLS Grid
• 2026-05-15 Listed $254,900 NWMLS as Distributed by MLS Grid
• 1984-12-21 Sold (Public Records) $16,950 Public Records

Property tax history

+6.1%/yr

Latest (2026): $3,214 · +7.8% YoY. Source: county tax records.