10628 63RD Street Ct E #45 · North Puyallup, WA 98372

$89,499

2 bd · 2.0 ba · 1,120 sqft · Manufactured public records · 44 Days on market

Built 1969 $80/sqft · at area comps Est $89k · at est.

---

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 +7.1/15.0
• Schools +5.4/10.0
• Livability +4.2/5.0
• Rent growth +3.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Rare and beautifully remodeled home right on the river! The master suite boasts river views from your very own balcony and deck. Enjoy private river walk access from your backyard. This home has a large open concept living room and kitchen, with a huge quartz island, all the cabinets you will need, and a dining room on the side. Master bedroom includes a walk in closet and full bathroom. Another bedroom and 3/4 bathroom right across the hall await you, along with a separate laundry room with a washer and dryer included. And don't forget the AC that is installed for these upcoming hot summer months! Golden Rose is a 55+ Community known for its quiet enjoyment! Come and see for yourself!

Key facts

• Huge quartz island
• Walk in closet
• River views

Tags

• RIVER VIEWS
• PRIVATE RIVER WALK ACCESS
• OPEN CONCEPT LIVING ROOM
• HUGE QUARTZ ISLAND
• WALK IN CLOSET
• SEPARATE LAUNDRY ROOM

Property features AI

Finance

• Other: Senior exemption available
• Financial info: Listing terms: Cash, Conventional; Land lease amount applies
• HOA & community: Located in a senior community; Manufactured home park amenities: clubhouse, common area, exercise room, trails; Park approved for sale

Exterior

• Parking: Carport
• Utilities: Electric energy source; Community water
• Home design: Manufactured home (double wide); Model: ELCAR; One story; Updated/remodeled condition
• Construction: Cement construction materials; Composition roof; Tie down foundation; Manufactured house structure
• Exterior features: Cement/concrete exterior; Patio/porch/deck; Open space lot feature; Community waterfront / private beach access; View

Interior

• Kitchen: Dishwasher; Garbage disposal; Microwave; Refrigerator; Stove/Range
• Bedrooms: 2 bedrooms
• Flooring: Vinyl plank
• Bathrooms: 1 full bathroom; 1 three-quarter bathroom; 1 bathtub; 1 shower
• Heating & cooling: Ductless heating; Cooling present
• Interior features: Dining room; Entry; Kitchen with eating space; Living room; Drapes; Walk-in closet; Updated/remodeled interior
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $89k.

Deal economics

• At list price, monthly cash flow is $871 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $89k).
• Recommended offer: $87k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 85/100 on livability (#25 in WA, #468 nationally) — a professional / high-income tenant draw. Strengths: crime A+, amenities A+, housing A+; Watch: employment C-.
• Puyallup School District (suburban): math 53% / reading 66% proficiency, ranked #52 of 291 in WA (top 18%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+4.5%/yr); 167 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $619 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 + 4.5% rent growth), your $25k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 44 days — a 3% lower offer ($87k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 26y ago; this cycle's ask has dropped $9k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $29k; list at $89k implies a 209% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $86,814 (3.0% below list)

Questions for the listing agent

1. It's been on market 44 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1969 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 2.20% ✓
• Cap rate: 18.86%
• Cash-on-cash: 44.88%
• DSCR: 3.00
• GRM: 3.8

CMA / ARV

• ARV (median comp): $88,685
• List price: $89,499
• Delta: 0.92%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
10524 63rd Street Ct E #51	0.03mi	2/2.0	1,147 (+2%)	4mo	$122,000	$106	91
6312 107th Ave E #56	0.02mi	2/2.0	1,152 (+3%)	10mo	$72,500	$63	86
10701 63rd St E	0.03mi	2/2.0	1,140 (+2%)	12mo	$60,000	$53	86
10516 63rd Street Ct E #53	0.04mi	2/2.0	1,109 (-1%)	15mo	$80,000	$72	84
10522 60th Street Ct E	0.13mi	2/2.0	1,056 (-6%)	3mo	$84,950	$80	82
10517 60th Street Ct E #164	0.16mi	2/2.0	1,119 (-0%)	13mo	$59,000	$53	82
10805 62nd Street Ct E #3	0.11mi	2/2.0	1,060 (-5%)	8mo	$94,000	$89	79
10515 60th Street Ct E #165	0.15mi	2/2.0	1,052 (-6%)	11mo	$30,000	$29	74
10518 60th Street Ct E	0.14mi	2/2.0	1,248 (+11%)	10mo	$45,000	$36	66
10715 63rd Street Ct E #38	0.07mi	3/2.0 (+1)	1,252 (+12%)	10mo	$118,000	$94	64
5621 112th Avenue Ct E #20	0.51mi	2/2.0	1,248 (+11%)	16mo	$148,000	$119	44
5705 113th Ave E #68	0.60mi	3/2.0 (+1)	1,008 (-10%)	10mo	$62,000	$62	42

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 · 4.46% rent growth · sell at horizon

5-year hold

• IRR: 40.1%
• Equity multiple: 2.75×
• Total profit: $43,956
• Equity at exit: $13,345

10-year hold

• IRR: 47.1%
• Equity multiple: 5.88×
• Total profit: $122,376
• Equity at exit: $7,738

Cash invested: $25,060 (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 98372

• Rents YoY: 4.5%
• Active inventory: 167
• Price-to-rent: 3.8×

Monthly cashflow live

• Estimated rent: $1,969 high
• Mortgage (P&I): −$469
• Tax est. 1.5%: −$112 /mo · $1,342/yr
• Insurance: −$37
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$414
• Net cashflow: $871

Break-even live

Break-even rent $867

Max offer price $89,499

Occupancy floor 51%

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: $22,375
• Closing costs: $2,685
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1027 N Meridian Puyallup, WA	1.0–2.0	1.0	782	$1,795	$2.29	5d	6	0.16mi
513 5th St NE Puyallup, WA	3.0	1.0	1140	$2,575	$2.26	43d	1	0.33mi
735 2nd St NW Unit 1 Puyallup, WA	2.0	1.0	837	$1,695	$2.03	21d	1	0.38mi
501 2nd St NE Puyallup, WA	1.0–2.0	1.0–2.0	850	$2,299	$2.70	5d	11	0.40mi
501 2nd Ave NE Puyallup, WA	1.0–2.0	1.0–2.0	1506	$2,299	$1.53	43d	17	0.40mi
5517 108th Avenue Ct E Unit 5517 Puyallup, WA	2.0	1.0	864	$1,725	$2.00	43d	1	0.43mi
407 Valley Ave NE Puyallup, WA	1.0–3.0	1.0–2.0	923	$2,062	$2.23	43d	1	0.53mi
6808 112th Ave E Unit B Puyallup, WA	3.0	1.5	1400	$2,300	$1.64	43d	1	0.55mi
721 2nd Ave NE Puyallup, WA	2.0	1.5	1000	$1,895	$1.90	24d	1	0.56mi
719 2nd Ave NE Apt 2 Puyallup, WA	2.0	1.5	1000	$1,895	$1.90	5d	1	0.57mi
120 5th St NE Unit 1 Puyallup, WA	1.0	1.0	726	$1,595	$2.20	43d	1	0.59mi
344 7th St SE Puyallup, WA	2.0	1.0	800	$1,622	$2.03	3d	2	0.83mi
344 7th St SE Puyallup, WA	2.0	1.0	800	$1,650	$2.06	43d	2	0.83mi
344 7th St SE Unit 20 Puyallup, WA	2.0	1.0	800	$1,650	$2.06	24d	1	0.83mi
4908 110th Avenue Ct E #3 Edgewood, WA	3.0	2.0	1058	$2,395	$2.26	12d	1	0.83mi
4908 110th Ave Ct E Edgewood, WA	3.0	2.0	1100	$2,395	$2.18	18d	1	0.83mi
344 7th St SE Unit 8 Puyallup, WA	2.0	1.0	800	$1,595	$1.99	24d	1	0.83mi
803 9th St NW Unit 803 Puyallup, WA	2.0	1.0	800	$1,775	$2.22	20d	1	0.84mi
4824 110th Avenue Ct E Edgewood, WA	1.0–2.0	1.0	775	$2,050	$2.65	5d	3	0.91mi
10710 48th St E Unit A Edgewood, WA	2.0	1.0	898	$2,295	$2.56	43d	1	0.91mi
1617 E Main Puyallup, WA	1.0–2.0	1.0–2.0	930	$2,151	$2.31	1d	30	0.92mi
4729 114th Ave E Edgewood, WA	2.0	1.0	800	$1,995	$2.49	20d	1	0.98mi
4727 114th Ave E Edgewood, WA	2.0	1.0	800	$1,995	$2.49	20d	1	0.99mi
813 W Main Puyallup, WA	1.0	1.0	700	$1,600	$2.29	43d	1	1.00mi
1017 13th Street Ct NW Puyallup, WA	3.0	2.0	1250	$2,200	$1.76	43d	1	1.05mi
508 11th St NW Puyallup, WA	2.0	1.0	1037	$2,000	$1.93	43d	1	1.05mi
508 11th St NW Unit H Puyallup, WA	2.0	1.0	1037	$1,800	$1.74	16d	1	1.05mi
601 5th St SW Unit C Puyallup, WA	2.0	2.5	1450	$2,450	$1.69	5d	1	1.09mi
5406 122nd Ave E Unit B Edgewood, WA	2.0	1.0	1400	$2,425	$1.73	5d	1	1.10mi
516 16th St SE Puyallup, WA	2.0	1.0	950	$1,895	$1.99	24d	1	1.15mi
805 3rd St SW Puyallup, WA	2.0	1.0	957	$1,850	$1.93	43d	1	1.16mi
1218 7th Ave SE Unit 1208 Puyallup, WA	2.0	1.0	885	$2,145	$2.42	24d	1	1.17mi
1402 7th Ave SE Unit B Puyallup, WA	3.0	2.5	1351	$2,300	$1.70	43d	1	1.19mi
322 9th Ave SE Puyallup, WA	2.0	1.0	975	$1,610	$1.65	12d	3	1.20mi
322 9th Ave SE Unit 08 Puyallup, WA	2.0	1.0	975	$1,595	$1.64	5d	1	1.20mi
322 9th Ave SE Apt 9 Puyallup, WA	2.0	1.0	975	$1,550	$1.59	5d	1	1.21mi
931 9th St SE Puyallup, WA	1.0–2.0	1.0	784	$1,845	$2.35	2d	7	1.26mi
305 13th St SW Unit D Puyallup, WA	2.0	1.5	880	$1,820	$2.07	43d	1	1.33mi
1022 10th Ave SE Puyallup, WA	2.0	1.5	1100	$1,950	$1.77	43d	1	1.35mi
802 9th St SW Unit 802 1/2 Puyallup, WA	1.0	1.0	700	$1,650	$2.36	20d	1	1.37mi

Listing history 23 events

1. 2026-06-18
   days on market $89,499 Active 44 DOM
2. 2026-06-17
   days on market $89,499 Active 43 DOM
3. 2026-06-16
   days on market $89,499 Active 42 DOM
4. 2026-06-15
   days on market $89,499 Active 41 DOM
5. 2026-06-13
   days on market $89,499 Active 39 DOM
6. 2026-06-13
   days on market $89,499 Active 38 DOM
7. 2026-06-09
   days on market $89,499 Active 35 DOM
8. 2026-06-08
   days on market $89,499 Active 34 DOM
9. 2026-06-07
   days on market $89,499 Active 33 DOM
10. 2026-06-04
    days on market $89,499 Active 30 DOM
11. 2026-06-03
    days on market $89,499 Active 29 DOM
12. 2026-06-02
    days on market $89,499 Active 28 DOM
13. 2026-06-01
    days on market $89,499 Active 27 DOM
14. 2026-05-31
    days on market $89,499 Active 26 DOM
15. 2026-05-12
    price $89,499
16. 2026-05-05
    listed $98,000 Active
17. 2021-08-03
    soldstatus $29,000 Closed
18. 2021-07-13
    status Pending
19. 2021-06-29
    price $39,000
20. 2021-06-16
    price $44,900
21. 2021-05-28
    listed $49,900 Active
22. 2000-05-18
    soldstatus $12,500
23. 2000-04-17
    listed $12,500

ⓘ 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 9/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥89°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 7/10 Severe 11 unhealthy d/yr today · 12 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,630
• − Mortgage interest: −$5,013
• − Property taxes: −$1,342
• − Insurance: −$1,245
• − Repairs & maintenance: −$1,890
• − Management: −$1,890
• − Depreciation: −$2,604
• Taxable income: $9,645
• Est. tax owed @ 24.0%: −$2,315
• After-tax cash flow: $8,133/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: Puyallup School District
• NCES district ID: 5306960
• Math proficiency: 53% ▬ 0.00%
• Reading proficiency: 66% ▬ 0.00%
• Median HH income: $68,291
• Composite: 54.01/100
• National rank: #3006
• State rank: #52 of 291 in WA

Livability — North Puyallup

• Score: 85/100
• State rank: #25
• US rank: #468

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: North Puyallup, WA
• County: Pierce County · 788,257 people
• Metro: Seattle-Tacoma-Bellevue, WA
• Population (ZIP): 26,012
• Household income: $98,152
• Rent vs Own: 47.5% rent · 52.5% own
• Severe rent burden: 871.0

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 (73%)
• Race & ethnicity: White 73% Two or more races 10% Hispanic / Latino 8% Asian 6% Black 3% Pacific Islander 1%
• Hispanic origin (detail): Mexican 5% Puerto Rican 1%
• Common ancestry: Lithuanian 4% Romanian 4% Subsaharan African 3%
• Foreign-born: 13% · Canada, South Korea, China
• Languages at home: 81% English-only · Russian/Polish/Slavic 5% Spanish 4% Other Asian/Pacific 3%

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: ▼ -283.81%
• Current HPI: 309.7871
• Rent YoY: ▲ 4.46%
• 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

+616.0% since first listed

9 events — show timeline

• 2026-05-12 Price Changed $89,499 NWMLS as Distributed by MLS Grid
• 2026-05-05 Listed $98,000 NWMLS as Distributed by MLS Grid
• 2021-08-03 Sold (MLS) $29,000 NWMLS as Distributed by MLS Grid
• 2021-07-13 Pending — NWMLS as Distributed by MLS Grid
• 2021-06-29 Price Changed $39,000 NWMLS as Distributed by MLS Grid
• 2021-06-16 Price Changed $44,900 NWMLS as Distributed by MLS Grid
• 2021-05-28 Listed $49,900 NWMLS as Distributed by MLS Grid
• 2000-05-18 Sold (MLS) $12,500 NWMLS as Distributed by MLS Grid
• 2000-04-17 Listed $12,500 NWMLS as Distributed by MLS Grid

Property tax history

-2.8%/yr

Latest (2026): $61 · +22.5% YoY. Source: county tax records.