19308 99th Avenue Ct E · South Hill, WA 98338

$99,500

2 bd · 1.0 ba · 924 sqft · Manufactured · 36 Days on market

Built 1991 Good condition Est $105k · 6% under

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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 +10.0/15.0
• Schools +4.9/10.0
• Livability +4.0/5.0
• Condition / age +3.8/5.0
• Rent growth +3.3/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to Meridian Terrace, a beautiful, quiet 55+ neighborhood. This home is move-in ready with thoughtful updates throughout, perfect for those to downsize without sacrificing comfort and style. This home features a spacious, open-plan living room with bright lighting, vaulted ceilings, new flooring, textured, freshly painted walls, all-new windows, fresh exterior paint, and a new 30-year roof installed on 6/6/26. The kitchen has brand new cabinets, sink, stove, and microwave. The outside has an irrigation system to keep your lawn and garden looking good, and two outdoor storage units with plenty of space for all your tools. Covered front and back porches with new front and back doors. T

Key facts

• New flooring
• New cabinets
• Irrigation system

Tags

• OPEN PLAN LIVING ROOM
• NEW FLOORING
• NEW CABINETS
• IRRIGATION SYSTEM
• OUTDOOR STORAGE UNITS
• COVERED FRONT AND BACK PORCHES

Property features AI

Finance

• Financial info: Accepted listing terms: Cash and Conventional
• HOA & community: Located in a senior community; Park name: Meridian Terrance; Park amenities include common area and RV parking; Land lease of $856/month

Exterior

• Parking: Carport
• Utilities: Electric energy source; Community water provided by park; Sewer provided by park; Power by Tacoma Electric; Xfinity internet available
• Home design: Manufactured single-wide home; One level; West-facing entry
• Construction: Wood construction; Composition roof; Pillar/post/pier foundation with tie-downs; Built by Guerdon (model: Guer)
• Exterior features: Wood exterior products; Paved lot; Patio/porch/deck

Interior

• Kitchen: Dishwasher; Microwave; Stove/Range; Refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Laminate
• Bathrooms: 1 full bathroom with bathtub and shower
• Heating & cooling: Ductless heating; Cooling available; Gas fireplace
• Interior features: Water heater; Ceiling fan(s); Vaulted ceilings; Patio/porch/deck; Landscaped
• Laundry & utility: Washer; Dryer; Water heater located in master bedroom closet

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $100k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Recommended offer: $97k (3.0% below list) — sets the bar for market timing.
• Cap rate 18.6% vs local median 3.0% in South Hill — 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 80/100 on livability (#84 in WA, #1,620 nationally) — a professional / high-income tenant draw. Strengths: employment A+, housing A+, health & safety A+; Watch: crime C-, schools D+, cost of living F.
• Bethel School District (suburban): math 47% / reading 59% proficiency, ranked #103 of 291 in WA (top 35%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+3.3%/yr); 232 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 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 $688 of loan paydown is wiped out by about $3k 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 + 3.3% rent growth), your $28k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 36 days — a 3% lower offer ($97k) is reasonable based on typical stale-listing flexibility.

Recommended offer $96,515 (3.0% below list)

Questions for the listing agent

1. It's been on market 36 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 2.17% ✓
• Cap rate: 18.61%
• Cash-on-cash: 43.99%
• DSCR: 2.96
• GRM: 3.8

CMA / ARV

• ARV (on-the-fly): $105,336
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
19316 99th Avenue Ct E	0.02mi	2/2.0	1,012 (+10%)	23mo	$115,000	$114	60

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 · 3.32% rent growth · sell at horizon

5-year hold

• IRR: 41.3%
• Equity multiple: 2.78×
• Total profit: $49,661
• Equity at exit: $14,836

10-year hold

• IRR: 47.7%
• Equity multiple: 5.67×
• Total profit: $130,028
• Equity at exit: $8,603

Cash invested: $27,860 (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 98338

• Rents YoY: 3.3%
• Active inventory: 232
• Price-to-rent: 3.8×

Monthly cashflow live

• Estimated rent: $2,163 high
• Mortgage (P&I): −$522
• Tax est. 1.5%: −$124 /mo · $1,492/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$454
• Net cashflow: $1,021

Break-even live

Break-even rent $870

Max offer price $99,500

Occupancy floor 48%

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: $24,875
• Closing costs: $2,985
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10234 194th St E Graham, WA	2.0	1.0–2.5	1231	$2,252	$1.83	1d	17	0.25mi
10007 186th St E #234 Puyallup, WA	2.0	2.0	1019	$2,300	$2.26	2d	1	0.43mi
18527 101st Ave Ct E Puyallup, WA	2.0	2.0	1026	$1,600	$1.56	43d	1	0.47mi
10423 Rainier Ridge Blvd E Puyallup, WA	1.0–3.0	1.0–2.0	1035	$2,506	$2.42	1d	27	0.62mi
9202 176th St E Puyallup, WA	1.0–2.0	1.0–2.0	824	$1,960	$2.38	1d	7	1.07mi
17516 93rd Avenue Ct E Puyallup, WA	1.0	1.0	917	$900	$0.98	43d	1	1.18mi
17718 85th Avenue Ct E Unit 17718-C Puyallup, WA	2.0	1.5	916	$1,525	$1.66	21d	1	1.31mi

Listing history 15 events

1. 2026-06-18
   days on market $99,500 Active 36 DOM
2. 2026-06-17
   days on market $99,500 Active 35 DOM
3. 2026-06-16
   days on market $99,500 Active 34 DOM
4. 2026-06-15
   days on market $99,500 Active 33 DOM
5. 2026-06-13
   days on market $99,500 Active 31 DOM
6. 2026-06-13
   days on market $99,500 Active 30 DOM
7. 2026-06-09
   days on market $99,500 Active 27 DOM
8. 2026-06-08
   days on market $99,500 Active 26 DOM
9. 2026-06-07
   days on market $99,500 Active 25 DOM
10. 2026-06-04
    days on market $99,500 Active 22 DOM
11. 2026-06-03
    days on market $99,500 Active 21 DOM
12. 2026-06-02
    days on market $99,500 Active 20 DOM
13. 2026-06-02
    status $99,500 Active 19 DOM
14. 2026-05-12
    status Pending
15. 2026-04-23
    listed $99,500 Active

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

Taxation est. · year 1

• Rental income: $25,960
• − Mortgage interest: −$5,574
• − Property taxes: −$1,492
• − Insurance: −$498
• − Repairs & maintenance: −$2,077
• − Management: −$2,077
• − Depreciation: −$2,895
• Taxable income: $11,348
• Est. tax owed @ 24.0%: −$2,724
• After-tax cash flow: $9,533/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.

Condition & rehab AI · 12 photos

Good 75/100 Cosmetic rehab

This move-in ready manufactured home features updated interiors and a fresh exterior, making it an attractive option for both resale and rental.

Value-add opportunities

• Both landscaping — enhances curb appeal and adds value
• Both HVAC upgrade — improves comfort and energy efficiency
• Both exterior paint — fresh paint enhances curb appeal and value

Renovation cost estimate screening

Value-add ROI direction

• Both landscaping — enhances curb appeal and adds value ↑
• Both HVAC upgrade — improves comfort and energy efficiency ↑
• Both exterior paint — fresh paint enhances curb appeal and value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Bethel School District
• NCES district ID: 5300480
• Math proficiency: 47% ▬ 0.00%
• Reading proficiency: 59% ▲ 2.00%
• Median HH income: $65,872
• Composite: 48.66/100
• National rank: #4568
• State rank: #103 of 291 in WA

Livability — South Hill

• Score: 80/100
• State rank: #84
• US rank: #1620

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: South Hill, WA
• County: Pierce County · 788,257 people
• City population: 76,707
• Metro: Seattle-Tacoma-Bellevue, WA
• Population (ZIP): 32,687
• Household income: $114,819
• Rent vs Own: 15.5% rent · 84.5% own
• Severe rent burden: 236.0

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 (71%)
• Race & ethnicity: White 71% Two or more races 15% Hispanic / Latino 12% Asian 3% Black 3% Pacific Islander 2% Native American 1%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Italian 4% Portuguese 4% Iranian 3%
• Foreign-born: 7% · Canada, South Korea, China
• Languages at home: 88% English-only · Spanish 5% Russian/Polish/Slavic 2% 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: ▼ -501.28%
• Current HPI: 304.4241
• Rent YoY: ▲ 3.32%
• 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

• 2026-05-12 Pending — NWMLS as Distributed by MLS Grid
• 2026-04-23 Listed $99,500 NWMLS as Distributed by MLS Grid