14205 State Route 165 E · Wilkeson, WA 98321

$180,000

3 bd · 2.0 ba · 1,248 sqft · Manufactured public records · 57 Days on market

Built 1977 0.30 ac lot $144/sqft · 58% below area

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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 +5.7/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Opportunity awaits in the Buckley/Burnett area! This 3-bedroom, 2-bath double-wide manufactured home sits on a spacious 1/3-acre lot and offers incredible potential for the right buyer. With the title eliminated, this property is ready for financing options similar to a traditional home. Situated in a desirable location, this property provides a peaceful setting while still being conveniently close to local amenities, schools, and commuter routes. The home is being sold as-is and will require some repairs and updates, making it an ideal investment, renovation project, or opportunity to build equity. With a functional floor plan, generous lot size, and solid upside potential, this is a chanc

Key facts

• Spacious lot
• Commuter routes
• Peaceful setting

Tags

• SPACIOUS LOT
• PEACEFUL SETTING
• LOCAL AMENITIES
• COMMUTER ROUTES
• INVESTMENT OPPORTUNITY
• RENOVATION PROJECT

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $180k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $180k).
• Recommended offer: $175k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 65/100 on livability (#340 in WA) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+; Watch: crime C-, cost of living D, schools D-.
• White River School District (suburban): math 57% / reading 68% proficiency, ranked #35 of 291 in WA (top 12%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 235 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 $1k of loan paydown is wiped out by about $5k 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 $50k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 57 days — a 3% lower offer ($175k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 26y ago; this cycle's ask has dropped $145k (45%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $174,600 (3.0% below list)

Questions for the listing agent

1. It's been on market 57 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 1977 — 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 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?
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: 1.66% ✓
• Cap rate: 13.75%
• Cash-on-cash: 26.63%
• DSCR: 2.18
• GRM: 5.0

CMA / ARV

• ARV (median comp): $425,000
• List price: $180,000
• Delta: -57.65%
• Verdict: UNDERPRICED
• Comps: 3 within 2.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
14205 State Route 165 E	0.00mi	3/1.5	1,248 (0%)	1mo	$185,000	$148	97

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 20.5%
• Equity multiple: 1.84×
• Total profit: $42,116
• Equity at exit: $26,839

10-year hold

• IRR: 28.7%
• Equity multiple: 3.55×
• Total profit: $128,593
• Equity at exit: $15,563

Cash invested: $50,400 (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 98321

• Active inventory: 235
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $2,994 medium
• Mortgage (P&I): −$944
• Tax from tax record: −$228 /mo · $2,738/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$629
• Net cashflow: $1,118

Break-even live

Break-even rent $1,579

Max offer price $180,000

Occupancy floor 58%

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: $45,000
• Closing costs: $5,400
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-05-18
   status Pending
2. 2026-05-14
   price $190,000
3. 2026-05-14
   status Active
4. 2026-05-05
   status Pending
5. 2026-04-27
   price $250,000
6. 2026-04-19
   price $300,000
7. 2026-03-19
   listed $325,000 Active
8. 2007-07-26
   soldstatus $176,000 Closed
9. 2007-07-23
   soldstatus $176,000
10. 2007-06-10
    historical
11. 2007-04-26
    listed $174,950
12. 2000-10-10
    soldstatus $96,500
13. 2000-10-10
    soldstatus $96,500
14. 2000-07-12
    listed $99,999
15. 1992-11-30
    soldstatus $48,000

ⓘ 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: $2,738 · $228/mo
• Projected year-2 tax: $2,738 · $228/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 2/10 Low 7 d/yr ≥85°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 7/10 Severe 11 unhealthy d/yr today · 13 by 30 yrs out

Taxation est. · year 1

• Rental income: $35,933
• − Mortgage interest: −$10,083
• − Property taxes: −$2,738
• − Insurance: −$900
• − Repairs & maintenance: −$2,875
• − Management: −$2,875
• − Depreciation: −$5,236
• Taxable income: $11,226
• Est. tax owed @ 24.0%: −$2,694
• After-tax cash flow: $10,727/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: White River School District
• NCES district ID: 5309780
• Math proficiency: 57% ▲ 3.00%
• Reading proficiency: 68% ▲ 6.00%
• Median HH income: $71,369
• Composite: 56.68/100
• National rank: #2423
• State rank: #35 of 291 in WA

Livability — Wilkeson

• Score: 65/100
• State rank: #340
• US rank: #12934

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 17,601

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 (87%)
• Race & ethnicity: White 87% Hispanic / Latino 6% Two or more races 5% Native American 2% Asian 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 2%
• Common ancestry: Portuguese 7% Italian 4% Lithuanian 3%
• Foreign-born: 2% · China, Canada
• Languages at home: 97% English-only · Spanish 1% Other Asian/Pacific 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: ▼ -206.67%
• Current HPI: 310.6568
• 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

+295.8% since first listed

15 events — show timeline

• 2026-05-18 Pending — NWMLS as Distributed by MLS Grid
• 2026-05-14 Price Changed $190,000 NWMLS as Distributed by MLS Grid
• 2026-05-14 Relisted — NWMLS as Distributed by MLS Grid
• 2026-05-05 Pending — NWMLS as Distributed by MLS Grid
• 2026-04-27 Price Changed $250,000 NWMLS as Distributed by MLS Grid
• 2026-04-19 Price Changed $300,000 NWMLS as Distributed by MLS Grid
• 2026-03-19 Listed $325,000 NWMLS as Distributed by MLS Grid
• 2007-07-26 Sold (MLS) $176,000 NWMLS as Distributed by MLS Grid
• 2007-07-23 Sold (Public Records) $176,000 Public Records
• 2007-06-10 Delisted — NWMLS as Distributed by MLS Grid
• 2007-04-26 Listed $174,950 NWMLS as Distributed by MLS Grid
• 2000-10-10 Sold (Public Records) $96,500 Public Records
• 2000-10-10 Sold (MLS) $96,500 NWMLS as Distributed by MLS Grid
• 2000-07-12 Listed $99,999 NWMLS as Distributed by MLS Grid
• 1992-11-30 Sold (Public Records) $48,000 Public Records

Property tax history

+5.0%/yr

Latest (2026): $2,738 · +10.9% YoY. Source: county tax records.