2419 Jahn Ave NW #29 · Wollochet, WA 98335

$75,000

2 bd · 2.0 ba · 672 sqft · Manufactured public records · 106 Days on market

Built 1973 $112/sqft · 5% above area Est $143k · 47% under ↓ 12% since listing

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Why this score? — see what drove the A- 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +6.0/10.0
• Rent growth +3.7/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

West Anchor Mobile Home Park, a desirable 55+ community offering peaceful living with stunning views of the iconic Tacoma Narrows Bridge and beautiful Puget Sound. 2-bedroom, 2-bath home features an attached carport, storage shed, private patio, and covered front porch—perfect for relaxing and taking in the scenery. Inside, you’ll find a spacious living room, formal dining area, and a bright kitchen complete with breakfast bar, breakfast nook, electric range, dishwasher, and refrigerator. The primary suite offers a walk-in closet and private ¾ bath, while the second bedroom provides convenient access to the full bath—ideal for guests or office space. Additional high

Key facts

• Covered front porch
• Breakfast nook
• Walk-in closet

Tags

• STUNNING VIEWS
• PRIVATE PATIO
• COVERED FRONT PORCH
• BREAKFAST BAR
• BREAKFAST NOOK
• WALK-IN CLOSET

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $75k.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $75k).
• Recommended offer: $68k (9.0% below list) — sets the bar for market timing.
• Cap rate 27.4% vs local median 1.3% in Wollochet — 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 65/100 on livability (#356 in WA) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: health & safety C-, amenities F, commute F.
• Peninsula School District (suburban): math 61% / reading 72% proficiency, ranked #21 of 291 in WA (top 7%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 19% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising fast (+4.7%/yr); 183 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 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 $519 of loan paydown is wiped out by about $2k 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 + 4.7% rent growth), your $21k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 106 days — a 9% lower offer ($68k) is reasonable based on typical stale-listing flexibility.

Recommended offer $68,250 (9.0% below list)

Questions for the listing agent

1. It's been on market 106 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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?
6. 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.
7. 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.
8. 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: 3.10% ✓
• Cap rate: 27.36%
• Cash-on-cash: 75.23%
• DSCR: 4.35
• GRM: 2.7

CMA / ARV

• ARV (median comp): $142,774
• List price: $75,000
• Delta: -47.47%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 4.65% rent growth · sell at horizon

5-year hold

• IRR: 77.0%
• Equity multiple: 4.60×
• Total profit: $75,656
• Equity at exit: $11,183

10-year hold

• IRR: 81.0%
• Equity multiple: 10.08×
• Total profit: $190,632
• Equity at exit: $6,485

Cash invested: $21,000 (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 98335

• Rents YoY: 4.7%
• Active inventory: 183
• Price-to-rent: 2.7×

Monthly cashflow live

• Estimated rent: $2,323 medium
• Mortgage (P&I): −$393
• Tax est. 1.5%: −$94 /mo · $1,125/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$488
• Net cashflow: $1,317

Break-even live

Break-even rent $656

Max offer price $75,000

Occupancy floor 38%

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2413 Cliffside Ln NW Gig Harbor, WA	1.0–2.0	1.0	809	$2,378	$2.94	1d	11	0.33mi
4425 Harbor Country Dr Gig Harbor, WA	1.0	1.0	632	$1,635	$2.59	2d	1	1.34mi

Listing history 16 events

1. 2026-06-18
   days on market $75,000 Active 106 DOM
2. 2026-06-17
   days on market $75,000 Active 105 DOM
3. 2026-06-16
   days on market $75,000 Active 104 DOM
4. 2026-06-15
   days on market $75,000 Active 103 DOM
5. 2026-06-13
   days on market $75,000 Active 101 DOM
6. 2026-06-09
   days on market $75,000 Active 97 DOM
7. 2026-06-08
   days on market $75,000 Active 96 DOM
8. 2026-06-07
   days on market $75,000 Active 95 DOM
9. 2026-06-04
   days on market $75,000 Active 92 DOM
10. 2026-06-03
    days on market $75,000 Active 91 DOM
11. 2026-06-02
    days on market $75,000 Active 90 DOM
12. 2026-06-01
    days on market $75,000 Active 89 DOM
13. 2026-05-31
    pricedays on market $75,000 Active 88 DOM
14. 2026-05-15
    price $79,000
15. 2026-03-25
    price $85,000
16. 2026-03-04
    listed $89,950 Active

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥87°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 18 unhealthy d/yr today · 28 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,872
• − Mortgage interest: −$4,201
• − Property taxes: −$1,125
• − Insurance: −$375
• − Repairs & maintenance: −$2,230
• − Management: −$2,230
• − Depreciation: −$2,182
• Taxable income: $15,529
• Est. tax owed @ 24.0%: −$3,727
• After-tax cash flow: $12,072/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: Peninsula School District
• NCES district ID: 5306690
• Math proficiency: 61% ▲ 1.00%
• Reading proficiency: 72% ▼ -1.00%
• Median HH income: $76,796
• Composite: 60.35/100
• National rank: #1718
• State rank: #21 of 291 in WA

Livability — Wollochet

• Score: 65/100
• State rank: #356
• US rank: #13570

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wollochet, WA
• County: Pierce County · 788,257 people
• Metro: Seattle-Tacoma-Bellevue, WA
• Population (ZIP): 27,773
• Household income: $128,592
• Rent vs Own: 24.1% rent · 75.9% own
• Severe rent burden: 609.0

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 (80%)
• Race & ethnicity: White 80% Two or more races 11% Hispanic / Latino 7% Asian 3%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Italian 9% Portuguese 8% Slovak 4%
• Foreign-born: 5% · Canada, China, Vietnam
• Languages at home: 95% English-only · Spanish 2% Other Indo-European 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: ▼ -604.41%
• Current HPI: 346.8354
• Rent YoY: ▲ 4.65%
• 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

-12.2% since first listed

3 events — show timeline

• 2026-05-15 Price Changed $79,000 NWMLS as Distributed by MLS Grid
• 2026-03-25 Price Changed $85,000 NWMLS as Distributed by MLS Grid
• 2026-03-04 Listed $89,950 NWMLS as Distributed by MLS Grid

Property tax history

-34.3%/yr

Latest (2016): $5 · +0.0% YoY. Source: county tax records.