5222 70th Ave Ct E #21 · Fife, WA 98371

$39,950

2 bd · 1.0 ba · 780 sqft · Manufactured public records · 70 Days on market

Built 1967 $51/sqft · 20% below area Est $50k · 20% under ↓ 33% since listing

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Why this score? — see what drove the C- 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 +15.0/15.0
• Schools +5.4/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.6/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Tucked away on a corner lot in the Majestic Manor 55+ Community, this 2-bedroom, 1-bath home offers comfortable, low-maintenance living in a peaceful Puyallup setting. Inside, you’ll find 760 square feet of easy-to-maintain space with forced air heating and cooling, while outdoor features include a carport, storage shed, and minimal yard upkeep. Enjoy community amenities including a clubhouse, pool, and pet-friendly setting, all near Clarks Creek, the Puyallup River, shopping, dining, and convenient access to I-5. A great opportunity to enjoy affordable living in a welcoming community with room to make it your own. Pre-inspected for peace of mind.

Key facts

• Clubhouse
• Forced air heating
• Carport

Tags

• CORNER LOT
• FORCED AIR HEATING
• CARPORT
• STORAGE SHED
• MINIMAL YARD UPKEEP
• CLUBHOUSE

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $40k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $40k).
• Recommended offer: $38k (6.0% below list) — sets the bar for market timing.
• Cap rate 45.3% vs local median 2.8% in Fife — 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 71/100 on livability (#225 in WA) — a middle-class / working-renter tenant base. Strengths: commute A+, employment A+, housing A+; Watch: crime F, amenities 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 (+1.4%/yr); 227 active listings in the ZIP; 4 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 $276 of loan paydown is wiped out by about $1k 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 + 1.4% rent growth), your $11k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 70 days — a 6% lower offer ($38k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $37,553 (6.0% below list)

Questions for the listing agent

1. It's been on market 70 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 1967 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 4.88% ✓
• Cap rate: 45.34%
• Cash-on-cash: 139.46%
• DSCR: 7.21
• GRM: 1.7

CMA / ARV

• ARV (median comp): $49,842
• List price: $39,950
• Delta: -19.85%
• Verdict: UNDERPRICED
• Comps: 6 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7220 53rd Street Ct E #44	0.12mi	2/1.0	784 (+0%)	8mo	$45,000	$57	87
5314 69th Avenue Ct E #39	0.10mi	2/1.0	744 (-5%)	1mo	$54,500	$73	87
7114 53rd Street Ct E #10	0.07mi	2/1.0	720 (-8%)	12mo	$30,000	$42	74

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 · 1.41% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 7.17×
• Total profit: $69,073
• Equity at exit: $5,957

10-year hold

• IRR: —
• Equity multiple: 14.35×
• Total profit: $149,315
• Equity at exit: $3,454

Cash invested: $11,186 (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 98371

• Rents YoY: 1.4%
• Active inventory: 227
• Price-to-rent: 1.7×

Monthly cashflow live

• Estimated rent: $1,948 medium
• Mortgage (P&I): −$210
• Tax from tax record: −$13 /mo · $154/yr
• Insurance: −$17
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$409
• Net cashflow: $1,234

Break-even live

Break-even rent $387

Max offer price $39,950

Occupancy floor 32%

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: $9,988
• Closing costs: $1,198
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8009 50th St E Fife, WA	2.0	1.0	1100	$2,150	$1.95	17d	1	0.64mi
1503 18th St NW Unit C301 Puyallup, WA	1.0	1.0	740	$1,630	$2.20	43d	1	0.92mi
1503 18th St NW Puyallup, WA	1.0–2.0	1.0	840	$1,730	$2.06	10d	4	0.93mi
3351 70th Ave E Fife, WA	1.0–3.0	1.0–2.0	950	$2,199	$2.31	1d	12	1.13mi

Listing history 16 events

1. 2026-06-18
   days on market $39,950 Active 70 DOM
2. 2026-06-17
   days on market $39,950 Active 69 DOM
3. 2026-06-16
   days on market $39,950 Active 68 DOM
4. 2026-06-15
   days on market $39,950 Active 67 DOM
5. 2026-06-13
   days on market $39,950 Active 65 DOM
6. 2026-06-13
   days on market $39,950 Active 64 DOM
7. 2026-06-09
   days on market $39,950 Active 61 DOM
8. 2026-06-08
   days on market $39,950 Active 60 DOM
9. 2026-06-07
   days on market $39,950 Active 59 DOM
10. 2026-06-04
    days on market $39,950 Active 56 DOM
11. 2026-06-03
    days on market $39,950 Active 55 DOM
12. 2026-06-02
    days on market $39,950 Active 54 DOM
13. 2026-06-01
    days on market $39,950 Active 53 DOM
14. 2026-05-31
    days on market $39,950 Active 52 DOM
15. 2026-05-14
    price $39,950
16. 2026-04-09
    listed $59,950 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: $154 · $13/mo
• Projected year-2 tax: $392 · $33/mo
• Expected delta: +$237/yr (+$20/mo · 154.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (unshaded) · 77% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥89°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 7/10 Severe 11 unhealthy d/yr today · 12 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,378
• − Mortgage interest: −$2,238
• − Property taxes: −$154
• − Insurance: −$997
• − Repairs & maintenance: −$1,870
• − Management: −$1,870
• − Depreciation: −$1,162
• Taxable income: $15,086
• Est. tax owed @ 24.0%: −$3,621
• After-tax cash flow: $11,182/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 — Fife

• Score: 71/100
• State rank: #225
• US rank: #6558

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Pierce County · 788,257 people
• City population: 11,816
• Metro: Seattle-Tacoma-Bellevue, WA
• Population (ZIP): 24,682
• Household income: $97,242
• Rent vs Own: 28.1% rent · 71.9% own
• Severe rent burden: 507.0

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 (70%)
• Race & ethnicity: White 70% Two or more races 12% Hispanic / Latino 11% Asian 6% Black 4%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Portuguese 5% Slovak 3% Italian 2%
• Foreign-born: 10% · Canada, South Korea, Vietnam
• Languages at home: 85% English-only · Spanish 5% Korean 2% Vietnamese 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: ▼ -580.45%
• Current HPI: 295.2143
• Rent YoY: ▲ 1.41%
• 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

-33.4% since first listed

2 events — show timeline

• 2026-05-14 Price Changed $39,950 NWMLS as Distributed by MLS Grid
• 2026-04-09 Listed $59,950 NWMLS as Distributed by MLS Grid

Property tax history

+7.1%/yr

Latest (2026): $154 · +11.3% YoY. Source: county tax records.