7618 157th Street Ct E #93 · South Hill, WA 98375

$150,000

3 bd · 2.0 ba · 1,568 sqft · Manufactured public records · 7 Days on market

Built 2018

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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
• ARV discount +7.5/15.0
• Schools +5.4/10.0
• Livability +4.0/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Situated in a welcoming all-ages community, this magnificent 2018 manufactured home offers the perfect blend of modern comfort and easy living. The open-concept design features a spacious kitchen that flows effortlessly into a generous dining area and inviting living room—ideal for both everyday living and entertaining. The home offers 3 bedrooms and 2 full bathrooms, including a private primary suite with its own ensuite. A dedicated laundry room with washer and dryer adds convenience, while central A/C keeps you comfortable year-round. Outside, enjoy a covered carport with space for two vehicles, a fully fenced yard perfect for pets, and a storage shed for added functionality. Resid

Key facts

• Open-concept design
• Spacious kitchen
• Inviting living room

Tags

• OPEN-CONCEPT DESIGN
• SPACIOUS KITCHEN
• GENEROUS DINING AREA
• INVITING LIVING ROOM
• PRIVATE PRIMARY SUITE
• DEDICATED LAUNDRY ROOM

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $150k.

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 ($3k rent vs $150k).
• Cap rate 15.8% vs local median 3.0% in South Hill — 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 80/100 on livability (#84 in WA, #1,620 nationally) — a professional / high-income tenant draw. Strengths: employment A+, housing A+, health & safety A+; Watch: crime C-, schools 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 (+2.8%/yr); 283 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 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 $1k 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 + 2.8% rent growth), your $42k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 4y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $125k; 20% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $150,000

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 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?
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: 1.88% ✓
• Cap rate: 15.76%
• Cash-on-cash: 33.81%
• DSCR: 2.50
• GRM: 4.4

CMA / ARV

• ARV (on-the-fly): $333,984
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7620 157th Street Ct E #94	0.03mi	3/2.0	1,506 (-4%)	1mo	$124,000	$82	91
7715 156th Street Ct E	0.14mi	3/2.0	1,512 (-4%)	11mo	$50,000	$33	78
7309 155th St E #2	0.22mi	3/2.0	1,456 (-7%)	2mo	$75,000	$52	76
15919 84th Ave E	0.56mi	3/2.0	1,508 (-4%)	16mo	$460,000	$305	54
15807 85th Ave E	0.60mi	3/2.0	1,512 (-4%)	15mo	$455,500	$301	53
15908 E 79th Ave #122	0.22mi	3/2.0	1,794 (+14%)	17mo	$220,000	$123	51
15801 81st Ave Ct E #71	0.37mi	2/2.0 (-1)	1,432 (-9%)	16mo	$305,000	$213	50
15808 84th Ave E	0.51mi	3/2.0	1,782 (+14%)	8mo	$451,000	$253	47

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 · 2.79% rent growth · sell at horizon

5-year hold

• IRR: 28.9%
• Equity multiple: 2.20×
• Total profit: $50,505
• Equity at exit: $22,365

10-year hold

• IRR: 36.2%
• Equity multiple: 4.30×
• Total profit: $138,778
• Equity at exit: $12,969

Cash invested: $42,000 (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 98375

• Rents YoY: 2.8%
• Active inventory: 283
• Price-to-rent: 4.4×

Monthly cashflow live

• Estimated rent: $2,819 high
• Mortgage (P&I): −$787
• Tax from tax record: −$195 /mo · $2,341/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$592
• Net cashflow: $1,183

Break-even live

Break-even rent $1,322

Max offer price $150,000

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
16216 and16218 72nd Avenue Ct E Puyallup, WA	3.0	2.5	1500	$2,480	$1.65	24d	1	0.37mi
7104 163rd St E Puyallup, WA	3.0	2.0	1260	$2,800	$2.22	24d	1	0.45mi
15012 71st Ave E South Hill, WA	3.0	1.5	1200	$2,300	$1.92	1d	1	0.55mi
15010 71st Ave E Unit S168-12 Puyallup, WA	3.0	1.5	1200	$2,300	$1.92	1d	1	0.56mi
15502 87th Ave E Unit 15502 South Hill, WA	3.0	2.0	1300	$2,495	$1.92	24d	1	0.70mi
6714 149th Street Ct E Puyallup, WA	4.0	2.5	2244	$3,449	$1.54	1d	1	0.71mi
15304 88th Avenue Ct E Puyallup, WA	4.0	2.5	2219	$3,195	$1.44	43d	1	0.82mi
15623 90th Avenue Ct E Puyallup, WA	3.0	2.0	1286	$3,065	$2.38	11d	1	0.91mi
15623 90th Avenue Ct E Puyallup, WA	4.0	2.0	1286	$3,065	$2.38	12d	1	0.91mi
7513 177th Street Ct E Puyallup, WA	1.0–4.0	1.0–2.5	1243	$2,940	$2.37	10d	7	1.20mi
8345 175th Street Ct E Puyallup, WA	2.0	2.5	1588	$2,300	$1.45	12d	1	1.20mi
7343 177th St E Puyallup, WA	3.0	3.0	1962	$2,795	$1.42	21d	1	1.21mi
9530 160th Street Ct E Puyallup, WA	2.0–3.0	2.5	1284	$2,550	$1.99	12d	1	1.27mi
9611 161st St E Puyallup, WA	2.0	2.5	1150	$2,200	$1.91	14d	1	1.28mi
17814 75th Ave E Puyallup, WA	2.0	1.5	1064	$2,295	$2.16	20d	1	1.33mi
97th Ave E Puyallup, WA	3.0	2.5	1452	$2,495	$1.72	24d	1	1.36mi
17908 72nd Ave E Puyallup, WA	3.0	2.5	1719	$1,400	$0.81	24d	1	1.37mi
9921 158th St E Puyallup, WA	2.0	1.0	1100	$2,400	$2.18	12d	1	1.47mi

Listing history 5 events

1. 2026-04-17
   status Pending
2. 2026-04-09
   listed $150,000 Active
3. 2022-08-09
   soldstatus $125,000 Closed
4. 2022-07-28
   status Pending
5. 2022-07-01
   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: $2,341 · $195/mo
• Projected year-2 tax: $2,341 · $195/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 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥87°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 7/10 Severe 10 unhealthy d/yr today · 10 by 30 yrs out

Taxation est. · year 1

• Rental income: $33,834
• − Mortgage interest: −$8,402
• − Property taxes: −$2,341
• − Insurance: −$750
• − Repairs & maintenance: −$2,707
• − Management: −$2,707
• − Depreciation: −$4,364
• Taxable income: $12,564
• Est. tax owed @ 24.0%: −$3,015
• After-tax cash flow: $11,183/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 — South Hill

• Score: 80/100
• State rank: #84
• US rank: #1620

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: South Hill, WA
• County: Pierce County · 788,257 people
• City population: 76,707
• Metro: Seattle-Tacoma-Bellevue, WA
• Population (ZIP): 31,187
• Household income: $117,074
• Rent vs Own: 24.6% rent · 75.4% own
• Severe rent burden: 541.0

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 0.64)
• Race & ethnicity: White 57% Two or more races 22% Hispanic / Latino 13% Black 8% Asian 6% Pacific Islander 1%
• Hispanic origin (detail): Mexican 10% Puerto Rican 1%
• Common ancestry: Portuguese 3% Lithuanian 3% Italian 3%
• Foreign-born: 11% · Canada, China, South Korea
• Languages at home: 82% English-only · Spanish 8% Other Indo-European 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: ▼ -189.98%
• Current HPI: 285.0074
• Rent YoY: ▲ 2.79%
• 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

+15.4% since first listed

5 events — show timeline

• 2026-04-17 Pending — NWMLS as Distributed by MLS Grid
• 2026-04-09 Listed $150,000 NWMLS as Distributed by MLS Grid
• 2022-08-09 Sold (MLS) $125,000 NWMLS as Distributed by MLS Grid
• 2022-07-28 Pending — NWMLS as Distributed by MLS Grid
• 2022-07-01 Listed $130,000 NWMLS as Distributed by MLS Grid

Property tax history

+16.5%/yr

Latest (2026): $2,341 · +4.2% YoY. Source: county tax records.