3702 Hunt St NW #30 · Gig Harbor, WA 98335

$82,500

2 bd · 1.0 ba · 706 sqft · Manufactured public records · 12 Days on market

Built 1996

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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 +6.0/10.0
• Rent growth +3.7/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to Harborland Park. A 55+ Community. This great, quiet, and convenient location is close to shopping, restaurants, and all that Gig Harbor living offers. This unit is in great condition and was recently remodeled with new interior and exterior paint, and laminate flooring in the living room, dining area and kitchen . The composition roof was just treated by Clean works NW for preservation and moss removal. Level yard with patio, deck, and lawn and garden areas. Open and bright interior with vaulted ceilings and skylights overhead in the kitchen. Monthly park fees cover water, septic system, and a clubhouse to enjoy with a full kitchen. An excellent option for affordable Gig Harbor l

Key facts

• Remodeled interior
• Laminate flooring
• Level yard

Tags

• QUIET LOCATION
• CLOSE TO SHOPPING
• REMODELED INTERIOR
• LAMINATE FLOORING
• COMPOSITION ROOF
• LEVEL YARD

Property features AI

Finance

• Financial info: Land lease: $825; Listing terms: Cash or Conventional
• HOA & community: Located in Harborland manufactured home park; Park approved for sale; Clubhouse; 64 homes in the park; Senior community

Exterior

• Parking: Uncovered open parking (1 space)
• Utilities: Electric energy source; Public/community water; Septic sewer; Power provided by Peninsula Light Co
• Home design: Manufactured single-wide home (Fleetwood Sandpoint); One level; Tie-down foundation; Vinyl skirting; Very good condition
• Construction: Wood construction; Composition roof
• Exterior features: Wood exterior products; Patio/porch/deck; Detached storage shed; Dead end street; Paved access

Interior

• Kitchen: Dishwasher; Refrigerator; Stove/Range; Kitchen with eating space
• Bedrooms: 2 bedrooms
• Flooring: Laminate; Vinyl; Carpet
• Bathrooms: 1 three-quarter bathroom; 1 shower
• Heating & cooling: Forced air heating; No central cooling
• Interior features: Water heater inside closet; Ceiling fan(s); Drapes; Skylights; Vaulted ceilings
• Laundry & utility: Washer; Dryer; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $82k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $82k).
• Cap rate 21.7% vs local median 1.9% in Gig Harbor — 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 74/100 on livability (#177 in WA, #4,581 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, employment A+, housing A-; Watch: health & safety C-, amenities F, cost of living 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.
• Zoned schools: Discovery Elementary School (316 students, 22% FRL); Goodman Middle School (459 students, 20% FRL); Gig Harbor High (1,435 students, 15% FRL) — zoned schools at 19% FRL track the district average.
• Market conditions: Rents rising fast (+4.7%/yr); 188 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $570 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 $23k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $82,500

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 A-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?
3. 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.
4. 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.
5. 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: 2.50% ✓
• Cap rate: 21.73%
• Cash-on-cash: 55.12%
• DSCR: 3.45
• GRM: 3.3

CMA / ARV

• ARV (on-the-fly): $39,536
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3702 Hunt St #8	0.04mi	1/1.0 (-1)	798 (+13%)	7mo	$45,000	$56	65

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 · 4.65% rent growth · sell at horizon

5-year hold

• IRR: 55.3%
• Equity multiple: 3.50×
• Total profit: $57,730
• Equity at exit: $12,301

10-year hold

• IRR: 60.9%
• Equity multiple: 7.59×
• Total profit: $152,210
• Equity at exit: $7,133

Cash invested: $23,100 (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: 188
• Price-to-rent: 3.3×

Monthly cashflow live

• Estimated rent: $2,065 high
• Mortgage (P&I): −$433
• Tax est. 1.5%: −$103 /mo · $1,238/yr
• Insurance: −$34
• HOA: −$0
• Vacancy / Maint / Mgmt: −$434
• Net cashflow: $1,061

Break-even live

Break-even rent $722

Max offer price $82,500

Occupancy floor 44%

Sensitivity live

Price	-10% $1,118	-5% $1,090	+0% $1,061	+5% $1,033	+10% $1,004
Rent	-10% $898	-5% $980	+0% $1,061	+5% $1,143	+10% $1,224
Rate	-1.0pp $1,103	-0.5pp $1,082	base $1,061	+0.5pp $1,040	+1.0pp $1,018

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: $20,625
• Closing costs: $2,475
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6100 Soundview Dr Gig Harbor, WA	1.0–2.0	1.0	810	$1,975	$2.44	16d	1	0.38mi
3110 Grandview St Unit 1 Gig Harbor, WA	2.0	1.0	713	$2,145	$3.01	14d	1	0.67mi
3108 Grandview St Unit 5 Gig Harbor, WA	1.0	1.0	450	$1,495	$3.32	45d	1	0.69mi
4100 Foster St Gig Harbor, WA	1.0	1.0	780	$1,795	$2.30	45d	1	0.82mi
4425 Harbor Country Dr Gig Harbor, WA	1.0–2.0	1.0–2.0	711	$1,910	$2.68	1d	3	1.35mi

Listing history 8 events

1. 2026-06-21
   days on market $82,500 Active 12 DOM
2. 2026-06-18
   days on market $82,500 Active 9 DOM
3. 2026-06-17
   days on market $82,500 Active 8 DOM
4. 2026-06-16
   days on market $82,500 Active 7 DOM
5. 2026-06-15
   days on market $82,500 Active 6 DOM
6. 2026-06-13
   days on market $82,500 Active 4 DOM
7. 2026-06-10
   remarks 699-char remark
8. 2026-06-10
   listed $82,500 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 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥87°F today · 13 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: $24,779
• − Mortgage interest: −$4,621
• − Property taxes: −$1,238
• − Insurance: −$412
• − Repairs & maintenance: −$1,982
• − Management: −$1,982
• − Depreciation: −$2,400
• Taxable income: $12,143
• Est. tax owed @ 24.0%: −$2,914
• After-tax cash flow: $9,819/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 — Gig Harbor

• Score: 74/100
• State rank: #177
• US rank: #4581

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Gig Harbor, WA
• County: Pierce County · 788,257 people
• City population: 47,845
• 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

1 event — show timeline

• 2026-06-09 Listed $82,500 NWMLS as Distributed by MLS Grid

Property tax history

-50.9%/yr

Latest (2016): $5 · -89.6% YoY. Source: county tax records.