2708 341st Ct S #29 · South Creek, WA 98580

$23,500

2 bd · 1.0 ba · 552 sqft · Manufactured public records · 84 Days on market

Built 1975 ↓ 6% since listing

---

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
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +4.9/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

OWNER FINANCING AVAILABLE. 2 Bedroom 1 bathroom Located in a park waterfront Space rent is $850 a month. All appliances stay. The park has three ponds and is very private. Buyer must fill out a credit app for approval. Home is a fixer being sold as is. Great potential for sweat equity home sits on the lake for great views. Needs work on floors.

Key facts

• Built 1975
• Listed 84 days

Property features AI

Finance

• Other: Taxes reported for 2024; Calculated living area: 552
• Financial info: Listing terms: Cash
• HOA & community: Located in Little Lake MHP with 36 homes; Park approved for sale; Land lease: $850

Exterior

• Parking: Carport
• Utilities: Electric energy source; Community water; Septic sewer; TPU power; Electric water heater
• Home design: Manufactured home (single wide); One level; Entry level: one story; Style: Manuf-Single Wide; Model: Buddy; Make: Sky; Condition: Fixer; Mobile home remains
• Construction: Metal/vinyl construction materials; Composition roof; Tie down foundation; Manufactured house structure
• Exterior features: Patio/porch/deck; Sauna; Metal/vinyl exterior; Dead-end street; Has view

Interior

• Kitchen: Refrigerator; Stove/Range; Kitchen with eating space
• Bedrooms: 2 bedrooms
• Flooring: Vinyl flooring; Carpet
• Bathrooms: 1 full bath with bathtub and shower
• Heating & cooling: Forced air heating
• Interior features: Water heater in closet; Utility room; Entry and dining areas
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $24k.

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 $24k).
• Recommended offer: $22k (6.0% below list) — sets the bar for market timing.
• Cap rate 77.5% vs local median 2.3% in South Creek — 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 59/100 on livability (#491 in WA) — a working-class tenant base; expect higher turnover. Strengths: crime A+, housing A+, employment B+; Watch: health & safety C-, schools D-, amenities F.
• 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: 106 active listings in the ZIP; 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 $162 of loan paydown is wiped out by about $705 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 + 3.0% rent growth), your $7k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 84 days — a 6% lower offer ($22k) is reasonable based on typical stale-listing flexibility.

Recommended offer $22,090 (6.0% below list)

Questions for the listing agent

1. It's been on market 84 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 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. 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?
7. 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.
8. 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.
9. 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: 8.27% ✓
• Cap rate: 77.48%
• Cash-on-cash: 254.24%
• DSCR: 12.31
• GRM: 1.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 13.92×
• Total profit: $84,998
• Equity at exit: $3,504

10-year hold

• IRR: —
• Equity multiple: 29.63×
• Total profit: $188,411
• Equity at exit: $2,032

Cash invested: $6,580 (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 98580

• Home prices YoY: -17.1%
• Active inventory: 106
• Price-to-rent: 1.0×

Monthly cashflow live

• Estimated rent: $1,943 medium
• Mortgage (P&I): −$123
• Tax from tax record: −$8 /mo · $99/yr
• Insurance: −$10
• HOA: −$0
• Vacancy / Maint / Mgmt: −$408
• Net cashflow: $1,394

Break-even live

Break-even rent $179

Max offer price $23,500

Occupancy floor 23%

Sensitivity live

Price	-10% $1,407	-5% $1,401	+0% $1,394	+5% $1,387	+10% $1,381
Rent	-10% $1,241	-5% $1,317	+0% $1,394	+5% $1,471	+10% $1,548
Rate	-1.0pp $1,406	-0.5pp $1,400	base $1,394	+0.5pp $1,388	+1.0pp $1,382

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: $5,875
• Closing costs: $705
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-18
   days on market $23,500 Active 84 DOM
2. 2026-06-17
   days on market $23,500 Active 83 DOM
3. 2026-06-16
   days on market $23,500 Active 82 DOM
4. 2026-06-15
   days on market $23,500 Active 81 DOM
5. 2026-06-13
   days on market $23,500 Active 79 DOM
6. 2026-06-13
   days on market $23,500 Active 78 DOM
7. 2026-06-09
   days on market $23,500 Active 75 DOM
8. 2026-06-08
   days on market $23,500 Active 74 DOM
9. 2026-06-07
   days on market $23,500 Active 73 DOM
10. 2026-06-04
    days on market $23,500 Active 70 DOM
11. 2026-06-03
    days on market $23,500 Active 69 DOM
12. 2026-06-02
    days on market $23,500 Active 68 DOM
13. 2026-06-01
    days on market $23,500 Active 67 DOM
14. 2026-05-31
    days on market $23,500 Active 66 DOM
15. 2026-04-25
    price $23,500
16. 2026-03-26
    listed $25,000 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: $99 · $8/mo
• Projected year-2 tax: $230 · $19/mo
• Expected delta: +$131/yr (+$11/mo · 132.6%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥87°F today · 13 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 6/10 Major 8 unhealthy d/yr today · 10 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,322
• − Mortgage interest: −$1,316
• − Property taxes: −$99
• − Insurance: −$118
• − Repairs & maintenance: −$1,866
• − Management: −$1,866
• − Depreciation: −$684
• Taxable income: $17,374
• Est. tax owed @ 24.0%: −$4,170
• After-tax cash flow: $12,559/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 — South Creek

• Score: 59/100
• State rank: #491
• US rank: #20442

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 11,472

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 (77%)
• Race & ethnicity: White 77% Two or more races 12% Hispanic / Latino 11% Black 3%
• Hispanic origin (detail): Mexican 8% Puerto Rican 2%
• Common ancestry: Portuguese 5% Italian 4% Romanian 4%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 2% German/W. Germanic 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: ▼ -70.93%
• Current HPI: 344.1901
• Rent YoY: —
• Metro: —
• 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

-6.0% since first listed

2 events — show timeline

• 2026-04-25 Price Changed $23,500 NWMLS as Distributed by MLS Grid
• 2026-03-26 Listed $25,000 NWMLS as Distributed by MLS Grid

Property tax history

+6.1%/yr

Latest (2026): $99 · +5.1% YoY. Source: county tax records.