2709 341st Street Ct S · South Creek, WA 98580

$68,000

2 bd · 1.0 ba · 720 sqft · SingleFamily · 14 Days on market

Built 1997 Fair condition

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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 +4.9/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

For Sale By Owner- Open to reasonable cash offers. Offering a 3%+ commission to buyers agents. We are selling our 1997 14x52 2 bedroom 1 bath mobile home, located in all age park in Roy. Home is situated on a large lake front lot. Little Lakes MH Park is quiet and family friendly. Current lot rent is $855 monthly which includes w/ s/g. Electric bill runs about $120 a month. House will come with Starlink satellite as well as exterior security cameras already in place to connect to your TV. Appliances stay. New in the past few years- Siding Insulation Skirting Paint Carpet in bedroom Light fixtures Kitchen faucet Partially completed 8x18 foot cedar deck, all that is left to install is the

Key facts

• Lake front lot
• Cedar deck
• Starlink satellite

Tags

• LAKE FRONT LOT
• STARLINK SATELLITE
• EXTERIOR SECURITY CAMERAS
• CEDAR DECK

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $68k. Condition is rated fair.

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 ($2k rent vs $68k).
• Cap rate 26.4% vs local median 2.3% in South Creek — 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 59/100 on livability (#491 in WA) — a working-class tenant base; expect higher turnover. Strengths: crime A+, housing A+, employment B+; Watch: health & safety C-, schools D-, amenities 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: 106 active listings in the ZIP; 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 $470 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 + 3.0% rent growth), your $19k cash investment doubles in ~2 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 $68,000

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
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. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
5. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
6. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
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: 2.99% ✓
• Cap rate: 26.35%
• Cash-on-cash: 71.64%
• DSCR: 4.19
• GRM: 2.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 71.3%
• Equity multiple: 4.23×
• Total profit: $61,410
• Equity at exit: $10,139

10-year hold

• IRR: 75.2%
• Equity multiple: 8.71×
• Total profit: $146,824
• Equity at exit: $5,879

Cash invested: $19,040 (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 98580

• Home prices YoY: -17.1%
• Active inventory: 106
• Price-to-rent: 2.8×

Monthly cashflow live

• Estimated rent: $2,034 medium
• Mortgage (P&I): −$357
• Tax est. 1.5%: −$85 /mo · $1,020/yr
• Insurance: −$28
• HOA: −$0
• Vacancy / Maint / Mgmt: −$427
• Net cashflow: $1,137

Break-even live

Break-even rent $595

Max offer price $68,000

Occupancy floor 39%

Sensitivity live

Price	-10% $1,184	-5% $1,160	+0% $1,137	+5% $1,113	+10% $1,090
Rent	-10% $976	-5% $1,056	+0% $1,137	+5% $1,217	+10% $1,297
Rate	-1.0pp $1,171	-0.5pp $1,154	base $1,137	+0.5pp $1,119	+1.0pp $1,101

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: $17,000
• Closing costs: $2,040
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-06-18
   days on market $68,000 Active 14 DOM
2. 2026-06-17
   days on market $68,000 Active 13 DOM
3. 2026-06-16
   days on market $68,000 Active 12 DOM
4. 2026-06-15
   days on market $68,000 Active 11 DOM
5. 2026-06-13
   days on market $68,000 Active 9 DOM
6. 2026-06-13
   days on market $68,000 Active 8 DOM
7. 2026-06-09
   days on market $68,000 Active 5 DOM
8. 2026-06-08
   days on market $68,000 Active 4 DOM
9. 2026-06-07
   days on market $68,000 Active 3 DOM
10. 2026-06-04
    remarks 699-char remark
11. 2026-06-04
    listed $68,000 Active 1 DOM

ⓘ 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 4/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥87°F today · 13 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 6/10 Major 8 unhealthy d/yr today · 10 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,405
• − Mortgage interest: −$3,809
• − Property taxes: −$1,020
• − Insurance: −$340
• − Repairs & maintenance: −$1,952
• − Management: −$1,952
• − Depreciation: −$1,978
• Taxable income: $13,353
• Est. tax owed @ 24.0%: −$3,205
• After-tax cash flow: $10,436/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 · 13 photos

Fair 45/100 Cosmetic rehab

The home is in fair condition with cosmetic repairs needed, particularly in the kitchen and exterior. Painting and landscaping improvements can significantly enhance its value.

Repairs flagged

• Minor Kitchen cabinets — Aged appearance
• Minor Bathtub and sink — Dated appearance
• Moderate Siding — Weathered and discolored
• Minor Carpet — Worn appearance
• Minor Paint — Faded appearance
• Minor Windows — Could use cleaning

Value-add opportunities

• Both Painting and repainting — Fresh paint can improve curb appeal and interior aesthetics
• Both Landscaping — Trimming and maintaining the landscaping can enhance curb appeal and property value
• Both Siding repair — Repairing the weathered siding can improve the home's appearance and increase its value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · Aged appearance	Minor	$500–3,000
Bathtub and sink · Dated appearance	Minor	$500–3,000
Siding · Weathered and discolored	Moderate	$3,000–15,000
Carpet · Worn appearance	Minor	$500–3,000
Paint · Faded appearance	Minor	$500–3,000
Windows · Could use cleaning	Minor	$500–3,000
Total estimated repair cost · 6 items		$5,500–30,000

Value-add ROI direction

• Both Painting and repainting — Fresh paint can improve curb appeal and interior aesthetics ↑
• Both Landscaping — Trimming and maintaining the landscaping can enhance curb appeal and property value ↑
• Both Siding repair — Repairing the weathered siding can improve the home's appearance and increase its 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 Creek

• Score: 59/100
• State rank: #491
• US rank: #20442

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 11,472

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 (77%)
• Race & ethnicity: White 77% Two or more races 12% Hispanic / Latino 11% Black 3%
• Hispanic origin (detail): Mexican 8% Puerto Rican 2%
• Common ancestry: Portuguese 5% Italian 4% Romanian 4%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 2% German/W. Germanic 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: ▼ -70.93%
• Current HPI: 344.1901
• Rent YoY: —
• Metro: —
• 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 $68,000 ForSaleByOwner.com