507 131st St E Unit A · Parkland, WA 98445

$75,000

2 bd · 2.0 ba · 924 sqft · Manufactured public records · 63 Days on market

Built 1977 $81/sqft · at area comps Est $74k · at est.

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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 +7.2/15.0
• Schools +3.9/10.0
• Livability +3.9/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to Parkland Mobile Village, a welcoming 55+ community in the desirable Parkland area of Tacoma. This spacious 2-bedroom, 1.75-bath manufactured home offers comfortable and affordable living with approximately 924 square feet of well-designed space. The home features an open living area and a functional kitchen with ample cabinetry, storage and dining space. The primary bedroom provides generous space and privacy, while the second bedroom is ideal for guests, hobbies, or a home office. Enjoy outdoor living with a beautiful covered deck and patio area, perfect for relaxing or entertaining. Additional features include a covered carport, driveway parking, and a large storage shed with e

Key facts

• Functional kitchen
• Covered deck
• Covered carport

Tags

• OPEN LIVING AREA
• FUNCTIONAL KITCHEN
• COVERED DECK
• PATIO AREA
• COVERED CARPORT
• DRIVEWAY PARKING

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $75k.

Deal economics

• At list price, monthly cash flow is $832 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $75k).
• Recommended offer: $70k (6.0% below list) — sets the bar for market timing.
• Cap rate 19.6% vs local median 2.3% in Parkland — 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 77/100 on livability (#148 in WA, #3,068 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, health & safety A+; Watch: amenities D+, crime F.
• Franklin Pierce School District (suburban): math 35% / reading 51% proficiency, ranked #197 of 291 in WA (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+2.0%/yr); 237 active listings in the ZIP; 32 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 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 $519 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 + 2.0% rent growth), your $21k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 63 days — a 6% lower offer ($70k) is reasonable based on typical stale-listing flexibility.

Recommended offer $70,500 (6.0% below list)

Questions for the listing agent

1. It's been on market 63 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 1977 — 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 B-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?
6. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 2.28% ✓
• Cap rate: 19.61%
• Cash-on-cash: 47.57%
• DSCR: 3.12
• GRM: 3.7

CMA / ARV

• ARV (median comp): $74,430
• List price: $75,000
• Delta: 0.77%
• Verdict: FAIR
• Comps: 2 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
507 131st St E #23	0.00mi	2/2.0	960 (+4%)	15mo	$70,000	$73	81
507 131st St E #8	0.00mi	2/1.0	840 (-9%)	7mo	$65,000	$77	75
921 132nd St E	0.35mi	3/2.0 (+1)	960 (+4%)	13mo	$375,000	$391	61
159 136TH St S Unit 6A	0.48mi	2/1.5	924 (0%)	20mo	$45,000	$49	59
159 136th St S #17	0.50mi	2/1.0	932 (+1%)	17mo	$80,000	$86	57

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 · 2.05% rent growth · sell at horizon

5-year hold

• IRR: 43.9%
• Equity multiple: 2.87×
• Total profit: $39,272
• Equity at exit: $11,183

10-year hold

• IRR: 49.5%
• Equity multiple: 5.57×
• Total profit: $96,053
• Equity at exit: $6,485

Cash invested: $21,000 (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 98445

• Rents YoY: 2.0%
• Active inventory: 237
• Price-to-rent: 3.7×

Monthly cashflow live

• Estimated rent: $1,710 high
• Mortgage (P&I): −$393
• Tax est. 1.5%: −$94 /mo · $1,125/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$359
• Net cashflow: $832

Break-even live

Break-even rent $656

Max offer price $75,000

Occupancy floor 46%

Sensitivity live

Price	-10% $884	-5% $858	+0% $832	+5% $807	+10% $781
Rent	-10% $697	-5% $765	+0% $832	+5% $900	+10% $968
Rate	-1.0pp $870	-0.5pp $852	base $832	+0.5pp $813	+1.0pp $793

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Rent comps 32 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
114 129th St S Tacoma, WA	1.0	1.0	600	$1,145	$1.91	3d	1	0.41mi
1009 Brookdale Rd E Tacoma, WA	2.0	1.0	1050	$1,998	$1.90	16d	1	0.47mi
204 128th St S Unit 206 Parkland, WA	2.0	1.0	875	$1,450	$1.66	18d	1	0.49mi
204 128th St S Unit 212 Parkland, WA	2.0	1.0	900	$1,895	$2.11	0d	1	0.49mi
206 128th St S Parkland, WA	2.0	1.0	875	$1,450	$1.66	18d	1	0.49mi
212 128th St S Tacoma, WA	2.0	1.0	900	$1,895	$2.11	0d	1	0.50mi
120 136th St S Unit B10 Tacoma, WA	1.0	1.0	585	$1,195	$2.04	45d	1	0.54mi
120 136th St S Unit A9 Tacoma, WA	2.0	1.0	730	$1,395	$1.91	25d	1	0.57mi
209 125th St S Tacoma, WA	1.0–2.0	1.0	787	$1,500	$1.90	45d	1	0.59mi
101 138th St S Tacoma, WA	1.0–2.0	1.0	800	$1,740	$2.17	13d	4	0.62mi
12712 C St S Unit F Tacoma, WA	1.0	1.0	600	$1,250	$2.08	16d	1	0.62mi
12712 C St S Unit Cc Tacoma, WA	2.0	1.0	750	$1,395	$1.86	45d	1	0.62mi
418 130th Street Ct S Tacoma, WA	2.0	1.0	958	$2,200	$2.30	45d	1	0.62mi
420 133rd St S Tacoma, WA	2.0	1.0	1008	$2,150	$2.13	25d	1	0.66mi
14007 A St S Parkland, WA	1.0–3.0	1.0–2.0	1006	$1,945	$1.93	0d	4	0.70mi
323 Garfield St S Tacoma, WA	1.0	1.0	549	$1,595	$2.91	4d	3	0.72mi
712 127th St S Unit 1 Tacoma, WA	2.0	1.0	900	$1,700	$1.89	0d	1	0.81mi
14209 Pacific Ave S Tacoma, WA	1.0	1.0	500	$1,160	$2.32	45d	3	0.88mi
14117 C St S Tacoma, WA	2.0	1.0	750	$1,545	$2.06	45d	1	0.90mi
14207 C St S Unit A-22 Tacoma, WA	1.0	1.0	650	$1,099	$1.69	45d	1	0.92mi
11424 A St S Unit 202 Tacoma, WA	2.0	1.0	925	$1,450	$1.57	25d	1	0.97mi
11424 A St S Tacoma, WA	2.0	1.0	925	$1,750	$1.89	45d	1	0.97mi
14209 C St S Tacoma, WA	1.0	1.0	650	$1,260	$1.94	45d	1	0.97mi
11302 10th Avenue Ct E Tacoma, WA	3.0	1.0–2.0	869	$2,037	$2.34	5d	16	0.99mi
702 119th St S Unit B Tacoma, WA	2.0	1.0	800	$1,795	$2.24	45d	1	1.01mi
806 112th St E Parkland, WA	1.0–2.0	1.0–2.0	800	$1,500	$1.88	45d	1	1.13mi
416 111th St Ct E Tacoma, WA	1.0–3.0	1.0–2.0	925	$2,038	$2.20	0d	51	1.16mi
1015 112th St E Tacoma, WA	3.0	1.0–2.0	833	$1,938	$2.33	3d	15	1.22mi
14701 C St S Tacoma, WA	1.0–2.0	1.0	690	$1,495	$2.17	6d	3	1.24mi
1017 110th Street Ct E Tacoma, WA	2.0	2.0	902	$1,762	$1.95	5d	3	1.27mi
10925 Park Ave S Tacoma, WA	2.0	1.0	709	$1,775	$2.50	25d	5	1.42mi
10925 Park Ave S Tacoma, WA	3.0	1.0–2.0	838	$1,880	$2.24	0d	7	1.42mi

Listing history 2 events

1. 2026-05-18
   status Pending
2. 2026-03-16
   listed $75,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 7/10 Severe 9 unhealthy d/yr today · 10 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,518
• − Mortgage interest: −$4,201
• − Property taxes: −$1,125
• − Insurance: −$375
• − Repairs & maintenance: −$1,641
• − Management: −$1,641
• − Depreciation: −$2,182
• Taxable income: $9,352
• Est. tax owed @ 24.0%: −$2,244
• After-tax cash flow: $7,745/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: Franklin Pierce School District
• NCES district ID: 5302940
• Math proficiency: 35% ▬ 0.00%
• Reading proficiency: 51% ▲ 2.00%
• Median HH income: $49,240
• Composite: 39.18/100
• National rank: #8227
• State rank: #197 of 291 in WA

Livability — Parkland

• Score: 77/100
• State rank: #148
• US rank: #3068

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Parkland, WA
• County: Pierce County · 788,257 people
• City population: 36,624
• Metro: Seattle-Tacoma-Bellevue, WA
• Population (ZIP): 33,684
• Household income: $92,520
• Rent vs Own: 31.5% rent · 68.5% own
• Severe rent burden: 1085.0

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 0.69)
• Race & ethnicity: White 53% Two or more races 17% Hispanic / Latino 14% Black 10% Asian 6% Native American 4% Pacific Islander 3%
• Hispanic origin (detail): Mexican 10%
• Common ancestry: Portuguese 3% Lithuanian 2% Italian 2%
• Foreign-born: 12% · Canada, South Korea, Vietnam
• Languages at home: 81% English-only · Spanish 8% Other Asian/Pacific 3% Russian/Polish/Slavic 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: ▼ -471.23%
• Current HPI: 316.202
• Rent YoY: ▲ 2.05%
• 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

2 events — show timeline

• 2026-05-18 Pending — NWMLS as Distributed by MLS Grid
• 2026-03-16 Listed $75,000 NWMLS as Distributed by MLS Grid

Property tax history

+7.2%/yr

Latest (2026): $56 · +22.5% YoY. Source: county tax records.