Plan 2330 Plan

Buckley, WA 98321

$524,950F

4 bd · 2.5 ba · 2,330 sqft · Built — · SingleFamily · Active · 405 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,747/mo
• Mortgage (P&I): −$3,498
• Tax + insurance: −$1,112
• HOA: −$0
• Vac / Maint / Mgmt: −$787
• Net cashflow: $-1,649/mo
• Annual: $-19,792/yr
• Cap rate: 3.33%
• Cash-on-cash: -10.60%
• DSCR: 0.53
• 1% rule: 0.56%
• Cash to close: $186,748

Investor read

• This is a 4-bed/2.5-bath single-family listed at $525k.
• At list price, monthly cash flow is $-2k ($-20k/yr) — negative.
• To cash-flow at today's rent, offer at most $428k (18.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $375k (28.6% below list).
• It's been on market 405 days — a 12% lower offer ($462k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $375k (28.6% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $5k of loan paydown is wiped out by about $20k of value loss. Plan a longer hold.
• Location reads 76/100 on livability (#153 in WA, #3,284 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, health & safety A+; Watch: amenities D+, commute F, cost of living F.
• 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; 2 comparable units currently listed for rent nearby; 3,209 units permitted in Pierce County in 2024 (1,269 in 5+ unit buildings).
• Pierce County population projected at +26% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Questions for listing agent

• 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?
• It's been on market 405 days. Have you received any prior offers? Is the seller open to a 29% concession, seller financing, or rate buy-down credit?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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.
• 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.