3702 Hunt St NW #36 · Gig Harbor, WA 98335

$125,000

2 bd · 1.0 ba · 800 sqft · Manufactured public records · 43 Days on market

Built 1970 $156/sqft · at area comps Est $120k · at est. ↓ 4% since listing

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +6.0/10.0
• ARV discount +5.4/15.0
• Rent growth +3.7/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to effortless living in this beautifully updated move-in ready 2 bedroom 1 bath home located on a corner lot in a desirable 55+ community in Gig Harbor. Filled with natural light, this home offers a bright & inviting atmosphere from the moment you walk in. The fully remodeled kitchen features brand new cabinetry, sleek quartz countertops, stainless steel double sink, new fixtures & plumbing, perfect for both everyday living & entertaining. The bathroom has also been thoughtfully renovated with modern finishes. Enjoy year-round comfort with a new mini-split system providing efficient heating & air conditioning. Additional upgrades include all new dual-pane vin

Key facts

• Modern finishes
• Durable lvp flooring
• 2 parking spots

Tags

• FULLY REMODELED KITCHEN
• MODERN FINISHES
• NEW MINI-SPLIT SYSTEM
• DUAL-PANE VINYL WINDOWS
• DURABLE LVP FLOORING
• FRESHLY PAINTED INTERIOR

Property features AI

Finance

• Other: Buyer brokerage compensation 2.5%
• Financial info: Land lease amount applies; Listing terms: Cash
• HOA & community: Park approved for sale; Clubhouse in park; Harborland park with about 64 homes; Pets allowed (cats and dogs); Senior community (senior community flag present)

Exterior

• Parking: Carport; Uncovered parking
• Utilities: Electric energy source; Electric water heater; Community or shared well water; Septic sewer; Peninsula Light power
• Home design: Manufactured home (double wide); One story; Good condition; Model 44/20; Faces unspecified
• Construction: Metal roof; Metal skirting; Metal/vinyl construction; Manufactured house structure type; Built with tie down foundation
• Exterior features: Metal/vinyl exterior; Awnings; Drapes; Landscaped; Patio/Porch/Deck; Corner lot; Dead-end street; Paved

Interior

• Kitchen: Refrigerator; Microwave; Stove/Range
• Bedrooms: 2 bedrooms
• Flooring: Vinyl plank; Carpet
• Bathrooms: 1 full bathroom with bathtub and separate shower
• Heating & cooling: Ductless heating; Has cooling
• Interior features: Water heater; Tie down foundation
• Laundry & utility: Washer; Dryer; Water heater located on porch

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $125k.

Deal economics

• At list price, monthly cash flow is $910 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Recommended offer: $121k (3.0% below list) — sets the bar for market timing.
• Cap rate 15.0% vs local median 1.9% in Gig Harbor — 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 74/100 on livability (#177 in WA, #4,581 nationally) — a middle-class / working-renter tenant base. Strengths: schools A+, commute A+, employment A+; Watch: health & safety C-, amenities F, cost of living F.
• Peninsula School District (suburban): math 61% / reading 72% proficiency, ranked #21 of 291 in WA (top 7%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 19% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising fast (+4.7%/yr); 183 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 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 $864 of loan paydown is wiped out by about $4k 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 + 4.7% rent growth), your $35k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 43 days — a 3% lower offer ($121k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago; this cycle's ask has dropped $7k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $121,250 (3.0% below list)

Questions for the listing agent

1. It's been on market 43 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are A-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?
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: 1.72% ✓
• Cap rate: 15.03%
• Cash-on-cash: 31.21%
• DSCR: 2.39
• GRM: 4.9

CMA / ARV

• ARV (median comp): $119,519
• List price: $125,000
• Delta: 4.59%
• Verdict: FAIR
• Comps: 7 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3702 Hunt St #8	0.00mi	1/1.0 (-1)	798 (-0%)	7mo	$45,000	$56	88
3702 Hunt St #50	0.00mi	2/2.0	840 (+5%)	3mo	$115,000	$137	85

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 · 4.65% rent growth · sell at horizon

5-year hold

• IRR: 27.8%
• Equity multiple: 2.18×
• Total profit: $41,331
• Equity at exit: $18,638

10-year hold

• IRR: 36.2%
• Equity multiple: 4.60×
• Total profit: $125,942
• Equity at exit: $10,808

Cash invested: $35,000 (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 98335

• Rents YoY: 4.7%
• Active inventory: 183
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $2,144 high
• Mortgage (P&I): −$656
• Tax from tax record: −$76 /mo · $909/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$450
• Net cashflow: $910

Break-even live

Break-even rent $992

Max offer price $125,000

Occupancy floor 53%

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6563 McDonald Ave Gig Harbor, WA	2.0	2.0	1189	$2,850	$2.40	3d	8	0.29mi
6100 Soundview Dr Gig Harbor, WA	1.0–2.0	1.0	810	$1,975	$2.44	15d	1	0.34mi
3444 Erickson St Gig Harbor, WA	1.0	1.0	590	$1,545	$2.62	5d	3	0.39mi
5900 Soundview Dr Gig Harbor, WA	2.0	1.0	900	$1,725	$1.92	44d	1	0.44mi
3110 Grandview St Unit 1 Gig Harbor, WA	2.0	1.0	713	$2,145	$3.01	13d	1	0.65mi
4100 Foster St Gig Harbor, WA	1.0	1.0	780	$1,795	$2.30	44d	1	0.84mi
4425 Harbor Country Dr Gig Harbor, WA	1.0	1.0	632	$1,635	$2.59	2d	1	1.33mi

Listing history 18 events

1. 2026-06-18
   days on market $125,000 Active 43 DOM
2. 2026-06-17
   days on market $125,000 Active 42 DOM
3. 2026-06-16
   days on market $125,000 Active 41 DOM
4. 2026-06-15
   days on market $125,000 Active 40 DOM
5. 2026-06-13
   days on market $125,000 Active 38 DOM
6. 2026-06-09
   days on market $125,000 Active 34 DOM
7. 2026-06-08
   days on market $125,000 Active 33 DOM
8. 2026-06-07
   pricedays on market $125,000 Active 32 DOM
9. 2026-06-04
   days on market $132,000 Active 29 DOM
10. 2026-06-03
    days on market $132,000 Active 28 DOM
11. 2026-06-02
    days on market $132,000 Active 27 DOM
12. 2026-06-01
    days on market $132,000 Active 26 DOM
13. 2026-05-31
    days on market $132,000 Active 25 DOM
14. 2026-05-06
    listed $132,000 Active
15. 2024-06-21
    soldstatus $110,000 Closed
16. 2024-06-07
    status Pending
17. 2024-05-22
    price $120,000
18. 2024-03-29
    listed $130,000 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: $909 · $76/mo
• Projected year-2 tax: $1,225 · $102/mo
• Expected delta: +$316/yr (+$26/mo · 34.8%)

ⓘ 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 · 13 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 18 unhealthy d/yr today · 28 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,728
• − Mortgage interest: −$7,002
• − Property taxes: −$909
• − Insurance: −$625
• − Repairs & maintenance: −$2,058
• − Management: −$2,058
• − Depreciation: −$3,636
• Taxable income: $9,439
• Est. tax owed @ 24.0%: −$2,265
• After-tax cash flow: $8,660/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: Peninsula School District
• NCES district ID: 5306690
• Math proficiency: 61% ▲ 1.00%
• Reading proficiency: 72% ▼ -1.00%
• Median HH income: $76,796
• Composite: 60.35/100
• National rank: #1718
• State rank: #21 of 291 in WA

Livability — Gig Harbor

• Score: 74/100
• State rank: #177
• US rank: #4581

Category grades

Amenities F Commute A+ Cost of living F 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: Gig Harbor, WA
• County: Pierce County · 788,257 people
• City population: 47,845
• Metro: Seattle-Tacoma-Bellevue, WA
• Population (ZIP): 27,773
• Household income: $128,592
• Rent vs Own: 24.1% rent · 75.9% own
• Severe rent burden: 609.0

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 (80%)
• Race & ethnicity: White 80% Two or more races 11% Hispanic / Latino 7% Asian 3%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Italian 9% Portuguese 8% Slovak 4%
• Foreign-born: 5% · Canada, China, Vietnam
• Languages at home: 95% English-only · Spanish 2% Other Indo-European 1%

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: ▼ -604.41%
• Current HPI: 346.8354
• Rent YoY: ▲ 4.65%
• 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

-3.8% since first listed

6 events — show timeline

• 2026-06-06 Price Changed $125,000 NWMLS as Distributed by MLS Grid
• 2026-05-06 Listed $132,000 NWMLS as Distributed by MLS Grid
• 2024-06-21 Sold (MLS) $110,000 NWMLS as Distributed by MLS Grid
• 2024-06-07 Pending — NWMLS as Distributed by MLS Grid
• 2024-05-22 Price Changed $120,000 NWMLS as Distributed by MLS Grid
• 2024-03-29 Listed $130,000 NWMLS as Distributed by MLS Grid

Property tax history

+17.1%/yr

Latest (2026): $909 · +160.5% YoY. Source: county tax records.