200 Bridle Way #281 · Terrace Heights, WA 98901

$228,000

2 bd · 2.0 ba · 1,260 sqft · SingleFamily public records · 111 Days on market

Built 2018 $181/sqft · 6% below area Est $243k · 6% under

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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).

• ARV discount +10.3/15.0
• Cash flow +6.8/30.0
• Schools +5.1/10.0
• Rent growth +4.8/5.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• 1% rule +1.3/10.0
• DSCR +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Very nice 2-bd/2ba home, in the active 55+, gated Quail Run community. This home offers an open floor plan with a spacious office and laundry room. Home features a large, covered patio for entertaining, a fenced back yard and an oversized 3 car garage. From the front of the home you can enjoy the beautiful valley views! HOA ($700/mo) includes access to, and maintenance of the community pool/hot tub and clubhouse. There is a dog park (two pets allowed), and RV/Trailer parking (for a small additional fee). The home has landscaping with auto sprinklers. On site management, community guidelines and approval for residency by background check. This community has so many activities to participate in. .. .from exercise groups, card games, book studies and social hours; there are plenty of opportunities! Come check out this low maintenance, carefree lifestyle and enjoy the friendly and kind neighbors.

Key facts

• Dog park
• Open floor plan
• Fenced back yard

Tags

• OPEN FLOOR PLAN
• COVERED PATIO
• FENCED BACK YARD
• VALLEY VIEWS
• COMMUNITY POOL
• DOG PARK

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $228k.

Deal economics

• At list price, monthly cash flow is $-357 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $165k (27.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $145k (36.6% below list).
• Recommended offer: $145k (36.6% below list) — sets the bar for 1% rule.
• Cap rate 4.4% vs local median 2.8% in Terrace Heights — 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 72/100 on livability (#210 in WA) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, employment A; Watch: amenities F, commute F.
• East Valley School District (Yakima) (suburban): math 54% / reading 61% proficiency, ranked #76 of 291 in WA (top 26%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Terrace Heights Elementary (473 students, 73% FRL); East Valley Central Middle School (801 students, 71% FRL); East Valley High School (1,036 students, 65% FRL) — zoned schools average 70% FRL vs 45% district-wide (25 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+9.3%/yr); 171 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 468 units permitted in Yakima County in 2024 (23 in 5+ unit buildings).
• This rent runs 30% of the median local income ($57k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Yakima County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 111 days — a 9% lower offer ($207k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 8y 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.

Recommended offer $144,580 (36.6% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 111 days. Have you received any prior offers? Is the seller open to a 37% concession, seller financing, or rate buy-down credit?
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: 0.63% ✗
• Cap rate: 4.41%
• Cash-on-cash: -6.71%
• DSCR: 0.70
• GRM: 13.1

CMA / ARV

• ARV (median comp): $243,000
• List price: $228,000
• Delta: -6.17%
• Verdict: FAIR
• Comps: 6 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
107 N 57th St	0.39mi	3/2.0 (+1)	1,219 (-3%)	0mo	$360,000	$295	71
206 S 58th St	0.30mi	3/2.0 (+1)	1,248 (-1%)	14mo	$350,000	$280	68
109 S 58th St	0.24mi	3/2.0 (+1)	1,178 (-6%)	11mo	$350,000	$297	64
5503 Mount Aix Way	0.54mi	3/2.0 (+1)	1,232 (-2%)	6mo	$327,000	$265	61
604 Locust Dr	0.57mi	2/1.0	1,224 (-3%)	14mo	$260,000	$212	53
5505 Morningside Dr	0.42mi	3/1.5 (+1)	1,344 (+7%)	16mo	$358,000	$266	50
5503 Morningside Dr	0.43mi	3/1.0 (+1)	1,344 (+7%)	20mo	$329,000	$245	43
5008 Manor Dr	0.70mi	2/2.0	1,376 (+9%)	24mo	$375,000	$273	32

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -22.9%
• Equity multiple: 0.18×
• Total profit: $-52,068
• Equity at exit: $33,996

10-year hold

• IRR: -8.4%
• Equity multiple: 0.37×
• Total profit: $-39,945
• Equity at exit: $19,713

Cash invested: $63,840 (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 98901

• Home prices YoY: -33.4%
• Rents YoY: 9.3%
• Active inventory: 171
• Price-to-rent: 13.1×

Monthly cashflow live

• Estimated rent: $1,446 medium
• Mortgage (P&I): −$1,196
• Tax from tax record: −$209 /mo · $2,502/yr
• Insurance: −$95
• HOA: −$0
• Vacancy / Maint / Mgmt: −$304
• Net cashflow: $-357

Break-even live

Break-even rent $1,898

Max offer price $164,934

Occupancy floor —

Sensitivity live

Price	-10% $-228	-5% $-292	+0% $-357	+5% $-422	+10% $-486
Rent	-10% $-471	-5% $-414	+0% $-357	+5% $-300	+10% $-243
Rate	-1.0pp $-242	-0.5pp $-299	base $-357	+0.5pp $-416	+1.0pp $-476

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: $57,000
• Closing costs: $6,840
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5303 N Sky Vista Ave Yakima, WA	3.0	2.0	1512	$2,150	$1.42	15d	1	0.59mi

Listing history 20 events

1. 2026-06-01
   statusdays on market $228,000 Pending 111 DOM
2. 2026-05-31
   days on market $228,000 Active 110 DOM
3. 2026-05-30
   days on market $228,000 Active 109 DOM
4. 2026-04-14
   price $228,000 906-char remark

   Show marketing remark (906 chars)

   Very nice 2-bd/2ba home, in the active 55+, gated Quail Run community. This home offers an open floor plan with a spacious office and laundry room. Home features a large, covered patio for entertaining, a fenced back yard and an oversized 3 car garage. From the front of the home you can enjoy the beautiful valley views! HOA ($700/mo) includes access to, and maintenance of the community pool/hot tub and clubhouse. There is a dog park (two pets allowed), and RV/Trailer parking (for a small additional fee). The home has landscaping with auto sprinklers. On site management, community guidelines and approval for residency by background check. This community has so many activities to participate in. .. .from exercise groups, card games, book studies and social hours; there are plenty of opportunities! Come check out this low maintenance, carefree lifestyle and enjoy the friendly and kind neighbors.

5. 2026-03-16
   price $229,900 906-char remark

   Show marketing remark (906 chars)

   Very nice 2-bd/2ba home, in the active 55+, gated Quail Run community. This home offers an open floor plan with a spacious office and laundry room. Home features a large, covered patio for entertaining, a fenced back yard and an oversized 3 car garage. From the front of the home you can enjoy the beautiful valley views! HOA ($700/mo) includes access to, and maintenance of the community pool/hot tub and clubhouse. There is a dog park (two pets allowed), and RV/Trailer parking (for a small additional fee). The home has landscaping with auto sprinklers. On site management, community guidelines and approval for residency by background check. This community has so many activities to participate in. .. .from exercise groups, card games, book studies and social hours; there are plenty of opportunities! Come check out this low maintenance, carefree lifestyle and enjoy the friendly and kind neighbors.

6. 2026-03-03
   price $234,990 906-char remark

   Show marketing remark (906 chars)

   Very nice 2-bd/2ba home, in the active 55+, gated Quail Run community. This home offers an open floor plan with a spacious office and laundry room. Home features a large, covered patio for entertaining, a fenced back yard and an oversized 3 car garage. From the front of the home you can enjoy the beautiful valley views! HOA ($700/mo) includes access to, and maintenance of the community pool/hot tub and clubhouse. There is a dog park (two pets allowed), and RV/Trailer parking (for a small additional fee). The home has landscaping with auto sprinklers. On site management, community guidelines and approval for residency by background check. This community has so many activities to participate in. .. .from exercise groups, card games, book studies and social hours; there are plenty of opportunities! Come check out this low maintenance, carefree lifestyle and enjoy the friendly and kind neighbors.

7. 2026-02-10
   listed $239,000 Active 906-char remark

   Show marketing remark (906 chars)

   Very nice 2-bd/2ba home, in the active 55+, gated Quail Run community. This home offers an open floor plan with a spacious office and laundry room. Home features a large, covered patio for entertaining, a fenced back yard and an oversized 3 car garage. From the front of the home you can enjoy the beautiful valley views! HOA ($700/mo) includes access to, and maintenance of the community pool/hot tub and clubhouse. There is a dog park (two pets allowed), and RV/Trailer parking (for a small additional fee). The home has landscaping with auto sprinklers. On site management, community guidelines and approval for residency by background check. This community has so many activities to participate in. .. .from exercise groups, card games, book studies and social hours; there are plenty of opportunities! Come check out this low maintenance, carefree lifestyle and enjoy the friendly and kind neighbors.

8. 2025-10-30
   price $245,000
9. 2025-08-06
   listed $249,000 Active
10. 2025-06-04
    price $269,990
11. 2025-05-04
    price $275,000
12. 2025-03-21
    listed $285,000 Active
13. 2024-10-11
    price $285,000
14. 2024-07-16
    listed $290,000 Active
15. 2021-03-19
    soldstatus $228,000
16. 2020-07-01
    listed $228,000
17. 2019-11-12
    listed $228,900
18. 2019-04-11
    listed $228,000
19. 2018-09-28
    listed $228,000
20. 2018-02-16
    listed $228,000

ⓘ 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: $2,502 · $209/mo
• Projected year-2 tax: $2,502 · $209/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Taxation est. · year 1

• Rental income: $17,350
• − Mortgage interest: −$12,772
• − Property taxes: −$2,502
• − Insurance: −$1,140
• − Repairs & maintenance: −$1,388
• − Management: −$1,388
• − Depreciation: −$6,633
• Taxable loss: −$8,473
• Est. tax savings @ 24.0%: +$2,034
• After-tax cash flow: $-2,251/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: East Valley School District (Yakima)
• NCES district ID: 5305370
• Math proficiency: 54% ▲ 1.00%
• Reading proficiency: 61% ▲ 5.00%
• Median HH income: $57,936
• Composite: 51.46/100
• National rank: #3682
• State rank: #76 of 291 in WA

Livability — Terrace Heights

• Score: 72/100
• State rank: #210
• US rank: #5906

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Terrace Heights, WA
• County: Yakima County · 134,789 people
• Metro: Yakima, WA
• Population (ZIP): 31,366
• Household income: $57,392
• Rent vs Own: 50.0% rent · 50.0% own
• Severe rent burden: 1317.0

Population outlook (Yakima County) Hauer SSP2

• Today (2025): 256,514 people
• By 2030: 259,403 · +1.1%
• By 2040: 265,677 · +3.6%
• By 2050: 273,061 · +6.5%
• By 2075: 296,991 · +15.8%
• By 2100: 315,291 · +22.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority Hispanic (54%)
• Race & ethnicity: Hispanic / Latino 54% White 39% Two or more races 22% Native American 3% Black 1%
• Hispanic origin (detail): Mexican 49%
• Common ancestry: Italian 3% Lithuanian 2% Scottish 1%
• Foreign-born: 20% · Canada
• Languages at home: 53% English-only · Spanish 46%

Political lean MEDSL · Yakima

• 2024 margin: R (+14.3) · D 41.6% · R 55.9% · Other 2.5%
• 2008→2024 swing: -3.8pp toward R · 2008: -10.6pp · 2024: -14.3pp
• All cycles: 2024: R+14.3 2020: R+7.7 2016: R+15.4 2012: R+15.1 2008: R+10.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -144.24%
• Current HPI: 287.8283
• Rent YoY: ▲ 9.31%
• Metro: Yakima, 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

+0.0% since first listed

17 events — show timeline

• 2026-04-14 Price Changed $228,000 YAMLS
• 2026-03-16 Price Changed $229,900 YAMLS
• 2026-03-03 Price Changed $234,990 YAMLS
• 2026-02-10 Listed $239,000 YAMLS
• 2025-10-30 Price Changed $245,000 YAMLS
• 2025-08-06 Listed $249,000 YAMLS
• 2025-06-04 Price Changed $269,990 YAMLS
• 2025-05-04 Price Changed $275,000 YAMLS
• 2025-03-21 Listed $285,000 YAMLS
• 2024-10-11 Price Changed $285,000 YAMLS
• 2024-07-16 Listed $290,000 YAMLS
• 2021-03-19 Sold (MLS) $228,000 YAMLS
• 2020-07-01 Listed $228,000 YAMLS
• 2019-11-12 Listed $228,900 YAMLS
• 2019-04-11 Listed $228,000 YAMLS
• 2018-09-28 Listed $228,000 YAMLS
• 2018-02-16 Listed $228,000 YAMLS

Property tax history

+6.0%/yr

Latest (2026): $2,502 · -24.3% YoY. Source: county tax records.