510 Hall Rd #33 · Gleed, WA 98908

$139,900

3 bd · 1.0 ba · 672 sqft · SingleFamily public records · 46 Days on market

Built 1983 $208/sqft · 269% above area

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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 +27.3/30.0
• DSCR +9.5/10.0
• ARV discount +7.5/15.0
• 1% rule +7.4/10.0
• Schools +4.8/10.0
• Rent growth +4.1/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Come see this beautifully updated three bedroom, two bathroom home in Gleed Mobile Estates. Sit outside in your beautiful yard and enjoy the country atmosphere while you're only 5 miles from Fred Meyer in Yakima! There's an extra storage shed right in your back yard for all of your stuff so move right in an enjoy. And best of all, lot rent is only $600 and that pays for water, sewer, and garbage service. Call your favorite realtor for a showing today!

Key facts

• Extra storage shed
• Updated home
• Beautiful yard

Tags

• UPDATED HOME
• EXTRA STORAGE SHED
• BEAUTIFUL YARD

Property features AI

Finance

• Financial info: Annual tax amount listed ($341)

Exterior

• Parking: Off-street parking
• Utilities: Shared well water; Septic tank sewer
• Home design: Manufactured home on leased land; Residential property
• Construction: Composition roofing
• Exterior features: Composition roof; Shed(s)

Interior

• Kitchen: Dishwasher; Range; Refrigerator; Oven
• Flooring: Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air; Electric heating
• Interior features: Dishwasher, Range, Refrigerator, Oven; Vinyl flooring; Central air conditioning; Electric heating

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $405 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $136k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 64/100 on livability (#359 in WA) — a middle-class / working-renter tenant base. Strengths: housing A+, crime A-; Watch: schools F, amenities F, commute F.
• Naches Valley School District (rural): math 48% / reading 59% proficiency, ranked #112 of 291 in WA (top 38%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+6.5%/yr); 326 active listings in the ZIP; solid renter incomes; 468 units permitted in Yakima County in 2024 (23 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $967 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Yakima County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 6.5% rent growth), your $39k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 46 days — a 3% lower offer ($136k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $135,703 (3.0% below list)

Questions for the listing agent

1. It's been on market 46 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 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?
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: 1.24% ✓
• Cap rate: 9.76%
• Cash-on-cash: 12.40%
• DSCR: 1.55
• GRM: 6.7

CMA / ARV

• ARV (median comp): $65,015
• List price: $139,900
• Delta: 115.18%
• Verdict: OVERPRICED
• Comps: 5 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 6.45% rent growth · sell at horizon

5-year hold

• IRR: 5.9%
• Equity multiple: 1.24×
• Total profit: $9,361
• Equity at exit: $20,860

10-year hold

• IRR: 18.2%
• Equity multiple: 2.76×
• Total profit: $68,908
• Equity at exit: $12,096

Cash invested: $39,172 (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 98908

• Rents YoY: 6.5%
• Active inventory: 326
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $1,736 medium
• Mortgage (P&I): −$734
• Tax est. 1.5%: −$175 /mo · $2,098/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$365
• Net cashflow: $405

Break-even live

Break-even rent $1,224

Max offer price $139,900

Occupancy floor 72%

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-19
   days on market $139,900 Active 46 DOM
2. 2026-06-18
   days on market $139,900 Active 45 DOM
3. 2026-06-17
   days on market $139,900 Active 44 DOM
4. 2026-06-16
   days on market $139,900 Active 43 DOM
5. 2026-06-15
   days on market $139,900 Active 42 DOM
6. 2026-06-14
   days on market $139,900 Active 40 DOM
7. 2026-06-13
   days on market $139,900 Active 39 DOM
8. 2026-06-10
   days on market $139,900 Active 37 DOM
9. 2026-06-09
   days on market $139,900 Active 36 DOM
10. 2026-06-08
    days on market $139,900 Active 35 DOM
11. 2026-06-07
    days on market $139,900 Active 34 DOM
12. 2026-06-05
    days on market $139,900 Active 31 DOM
13. 2026-06-02
    days on market $139,900 Active 29 DOM
14. 2026-06-01
    days on market $139,900 Active 28 DOM
15. 2026-05-31
    days on market $139,900 Active 27 DOM
16. 2026-05-30
    days on market $139,900 Active 26 DOM
17. 2026-05-04
    listed $139,900 Active 456-char remark

ⓘ 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 5/10 Major
• 🌡 Heat 4/10 Moderate 7 d/yr ≥96°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 9/10 Extreme 15 unhealthy d/yr today · 17 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,832
• − Mortgage interest: −$7,837
• − Property taxes: −$2,098
• − Insurance: −$700
• − Repairs & maintenance: −$1,667
• − Management: −$1,667
• − Depreciation: −$4,070
• Taxable income: $2,794
• Est. tax owed @ 24.0%: −$671
• After-tax cash flow: $4,185/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: Naches Valley School District
• NCES district ID: 5305460
• Math proficiency: 48% ▼ -2.00%
• Reading proficiency: 59% ▲ 1.00%
• Median HH income: $55,781
• Composite: 48.09/100
• National rank: #4761
• State rank: #112 of 291 in WA

Livability — Gleed

• Score: 64/100
• State rank: #359
• US rank: #13669

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Gleed, WA
• County: Yakima County · 134,789 people
• Metro: Yakima, WA
• Population (ZIP): 38,060
• Household income: $84,197
• Rent vs Own: 31.1% rent · 68.9% own
• Severe rent burden: 1265.0

Population outlook (Yakima County) Hauer SSP2

• Today (2025): 256,514 people
• By 2030: 259,403 · +1.1%
• By 2040: 265,677 · +3.6%
• By 2050: 273,061 · +6.5%
• By 2075: 296,991 · +15.8%
• By 2100: 315,291 · +22.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (68%)
• Race & ethnicity: White 68% Hispanic / Latino 24% Two or more races 12% Asian 2%
• Hispanic origin (detail): Mexican 22%
• Common ancestry: Portuguese 4% Italian 3% Lithuanian 2%
• Foreign-born: 7% · Canada, China, South Korea
• Languages at home: 82% English-only · Spanish 16% German/W. Germanic 1%

Political lean MEDSL · Yakima

• 2024 margin: R (+14.3) · D 41.6% · R 55.9% · Other 2.5%
• 2008→2024 swing: -3.8pp toward R · 2008: -10.6pp · 2024: -14.3pp
• All cycles: 2024: R+14.3 2020: R+7.7 2016: R+15.4 2012: R+15.1 2008: R+10.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -337.28%
• Current HPI: 258.8688
• Rent YoY: ▲ 6.45%
• Metro: Yakima, 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

• 2026-05-04 Listed $139,900 YAMLS

Property tax history

+1.3%/yr

Latest (2019): $36 · -1.9% YoY. Source: county tax records.