8216 19th Ave E #10 · Midland, WA 98404

$135,000

3 bd · 2.0 ba · 1,512 sqft · Manufactured public records · 14 Days on market

Built 1998

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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 +3.9/10.0
• Livability +3.6/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Beautifully remodeled and thoughtfully updated, this stunning 3-bedroom, 2-bathroom home offers the perfect blend of comfort, style, and functionality. From the moment you step inside, you'll be greeted by soaring vaulted ceilings, an abundance of natural light, and a spacious, well-designed floor plan that creates an open and inviting atmosphere throughout. The home features multiple living spaces to accommodate a variety of lifestyles, including a welcoming living room perfect for gathering with friends, a versatile den that can serve as a home office, media room, or hobby space, and a formal dining room ideal for entertaining and special occasions. At the heart of the home, the bright an

Key facts

• Parking
• Built 1998
• Listed 14 days

Property features AI

Finance

• Other: Buyer brokerage compensation: 3%
• Financial info: Listing terms: Cash or Conventional
• HOA & community: Home is park-approved for sale; Located in Sunnyside park with 42 homes; Land lease: $925/month

Exterior

• Parking: Uncovered parking
• Utilities: Electric energy source; Public water (managed by HOA); Sewer via HOA; Power provided by Tacoma Light and Power; Electric water heater
• Home design: Manufactured double-wide home; Updated/remodeled condition; One level; Pillar/post/pier foundation; Manufactured after 6/15/1976; Model: LBJ; Make: PALMH
• Construction: Metal/vinyl construction materials; Composition roof
• Exterior features: Metal/vinyl exterior; Patio/porch/deck; Paved lot

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator; Stove/Range
• Bedrooms: 3 bedrooms
• Flooring: Laminate
• Bathrooms: 2 full bathrooms (2 tubs, 2 showers)
• Heating & cooling: Forced air heating; No central cooling
• Interior features: Water heater; Vaulted ceilings; Walk-in closet; Den/office; Dining room; Entry; Kitchen with eating space; Living room
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $135k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $135k).
• Cap rate 16.9% vs local median 3.2% in Midland — 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 (#208 in WA) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+; Watch: crime D, schools F, amenities F.
• Franklin Pierce School District (suburban): math 35% / reading 51% proficiency, ranked #197 of 291 in WA (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+1.6%/yr); 176 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 19d 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).
• This rent runs 38% of the median local income ($82k/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 $933 of loan paydown is wiped out by about $4k 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 + 1.6% rent growth), your $38k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $135,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
3. Crime grade is D 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?
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: 1.93% ✓
• Cap rate: 16.88%
• Cash-on-cash: 37.80%
• DSCR: 2.68
• GRM: 4.3

CMA / ARV

• ARV (on-the-fly): $365,904
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8311 19th Ave E #29	0.11mi	4/2.0 (+1)	1,456 (-4%)	0mo	$169,950	$117	83
7605 20th Ave E	0.38mi	3/2.0	1,512 (0%)	10mo	$479,950	$317	74
2003 77th Street Ct E	0.31mi	4/2.0 (+1)	1,568 (+4%)	2mo	$450,000	$287	72
2009 78th Street Ct E	0.25mi	3/2.0	1,506 (-0%)	19mo	$499,888	$332	72
7907 21st Ave E	0.19mi	3/2.0	1,382 (-9%)	9mo	$435,000	$315	69
2118 77th Street Ct E	0.31mi	3/2.0	1,488 (-2%)	18mo	$360,000	$242	68
1822 75th St E #26	0.41mi	3/2.0	1,482 (-2%)	14mo	$160,000	$108	66
1906 E 75th St #29	0.41mi	3/2.0	1,590 (+5%)	10mo	$130,000	$82	63
1909 78th Street Ct E	0.26mi	2/2.0 (-1)	1,608 (+6%)	15mo	$400,000	$249	59
7213 17th Ave E #15	0.57mi	3/2.0	1,387 (-8%)	10mo	$114,000	$82	51
1710 73rd Street Ct E	0.52mi	3/2.0	1,296 (-14%)	16mo	$162,500	$125	38
7317 18th Ave E #4	0.56mi	2/2.0 (-1)	1,331 (-12%)	19mo	$115,000	$86	33

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 · 1.64% rent growth · sell at horizon

5-year hold

• IRR: 32.3%
• Equity multiple: 2.33×
• Total profit: $50,442
• Equity at exit: $20,129

10-year hold

• IRR: 38.6%
• Equity multiple: 4.37×
• Total profit: $127,521
• Equity at exit: $11,672

Cash invested: $37,800 (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 98404

• Rents YoY: 1.6%
• Active inventory: 176
• Price-to-rent: 4.3×

Monthly cashflow live

• Estimated rent: $2,608 high
• Mortgage (P&I): −$708
• Tax from tax record: −$105 /mo · $1,264/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$548
• Net cashflow: $1,191

Break-even live

Break-even rent $1,101

Max offer price $135,000

Occupancy floor 49%

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1817 80th St E Tacoma, WA	3.0	2.0	1188	$3,200	$2.69	19d	1	0.15mi
1425 82nd Street Ct E Tacoma, WA	4.0	2.5	1934	$2,495	$1.29	1d	1	0.23mi
10910 22nd Avenue Ct E Unit Jkt Tacoma, WA	3.0	2.0	1452	$2,200	$1.52	24d	1	0.25mi
908 76th Street Ct E Tacoma, WA	2.0–3.0	2.0	1065	$2,178	$2.05	2d	5	0.74mi
8015 Pacific Ave Unit 20 Tacoma, WA	2.0	1.5	1100	$1,995	$1.81	24d	1	1.38mi

Listing history 10 events

1. 2026-06-18
   days on market $135,000 Active 14 DOM
2. 2026-06-17
   days on market $135,000 Active 13 DOM
3. 2026-06-16
   days on market $135,000 Active 12 DOM
4. 2026-06-15
   days on market $135,000 Active 11 DOM
5. 2026-06-13
   days on market $135,000 Active 9 DOM
6. 2026-06-13
   days on market $135,000 Active 8 DOM
7. 2026-06-09
   days on market $135,000 Active 5 DOM
8. 2026-06-08
   days on market $135,000 Active 4 DOM
9. 2026-06-07
   remarks 699-char remark
10. 2026-06-07
    listed $135,000 Active 3 DOM

ⓘ 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: $1,264 · $105/mo
• Projected year-2 tax: $1,323 · $110/mo
• Expected delta: +$59/yr (+$5/mo · 4.7%)

ⓘ 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 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥87°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 7/10 Severe 10 unhealthy d/yr today · 12 by 30 yrs out

Taxation est. · year 1

• Rental income: $31,295
• − Mortgage interest: −$7,562
• − Property taxes: −$1,264
• − Insurance: −$675
• − Repairs & maintenance: −$2,504
• − Management: −$2,504
• − Depreciation: −$3,927
• Taxable income: $12,860
• Est. tax owed @ 24.0%: −$3,086
• After-tax cash flow: $11,203/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: Franklin Pierce School District
• NCES district ID: 5302940
• Math proficiency: 35% ▬ 0.00%
• Reading proficiency: 51% ▲ 2.00%
• Median HH income: $49,240
• Composite: 39.18/100
• National rank: #8227
• State rank: #197 of 291 in WA

Livability — Midland

• Score: 72/100
• State rank: #208
• US rank: #5731

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Midland, WA
• County: Pierce County · 788,257 people
• Metro: Seattle-Tacoma-Bellevue, WA
• Population (ZIP): 35,961
• Household income: $82,191
• Rent vs Own: 31.4% rent · 68.6% own
• Severe rent burden: 989.0

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: Highly diverse neighborhood (Simpson 0.77)
• Race & ethnicity: White 38% Hispanic / Latino 20% Asian 17% Two or more races 16% Black 11% Native American 3% Pacific Islander 1%
• Hispanic origin (detail): Mexican 16% Puerto Rican 1%
• Common ancestry: Italian 3% Portuguese 2% Slovak 1%
• Foreign-born: 20% · Canada, Vietnam, South Korea
• Languages at home: 68% English-only · Spanish 13% Other Asian/Pacific 7% Vietnamese 4%

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: ▼ -462.09%
• Current HPI: 360.0843
• Rent YoY: ▲ 1.64%
• 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

1 event — show timeline

• 2026-06-04 Listed $135,000 NWMLS as Distributed by MLS Grid

Property tax history

+3.4%/yr

Latest (2026): $1,264 · +5.9% YoY. Source: county tax records.