10716 61st St E #108 · North Puyallup, WA 98372

$90,000

3 bd · 2.0 ba · 1,620 sqft · Manufactured public records · 76 Days on market

Built 2001 $56/sqft · 24% below area Est $119k · 24% under ↓ 13% 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 +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

Welcome to Golden Rose, a sought-after 55+ community offering comfort, convenience, and a vibrant lifestyle! This spacious home features 3 bedrooms and 2 bathrooms. The primary bedroom has a huge walk in closet and bathroom with 2 separate showers, one designed for easy step-in accessibility. The vaulted ceiling in the living room adds to the open feel while the large kitchen offers abundant storage, a center island, skylight, and a generous dining area. All kitchen appliances are included, along with an additional freezer in the laundry room, plus washer and dryer. Additional features include ceiling fans throughout the home, two storage sheds in the carport, and convenient covered access.

Key facts

• Vaulted ceiling
• Walk in closet
• Skylight

Tags

• WALK IN CLOSET
• STEP-IN ACCESSIBILITY
• VAULTED CEILING
• ABUNDANT STORAGE
• CENTER ISLAND
• SKYLIGHT

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $90k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $90k).
• Recommended offer: $85k (6.0% 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); 169 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); 47% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 3,209 units permitted in Pierce County in 2024 (1,269 in 5+ unit buildings).
• This rent runs 31% of the median local income ($98k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $622 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 ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 76 days — a 6% lower offer ($85k) is reasonable based on typical stale-listing flexibility.

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 $84,600 (6.0% below list)

Questions for the listing agent

1. It's been on market 76 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. 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: 2.82% ✓
• Cap rate: 24.19%
• Cash-on-cash: 63.93%
• DSCR: 3.84
• GRM: 3.0

CMA / ARV

• ARV (median comp): $118,969
• List price: $90,000
• Delta: -24.35%
• Verdict: UNDERPRICED
• Comps: 6 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
10626 61st St E #104	0.04mi	3/2.0	1,531 (-6%)	15mo	$195,570	$128	77
11120 Morning Side Dr E	0.27mi	3/2.0	1,512 (-7%)	4mo	$400,000	$265	73

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: 61.3%
• Equity multiple: 3.80×
• Total profit: $70,569
• Equity at exit: $13,419

10-year hold

• IRR: 66.5%
• Equity multiple: 8.24×
• Total profit: $182,496
• Equity at exit: $7,782

Cash invested: $25,200 (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: 169
• Price-to-rent: 3.0×

Monthly cashflow live

• Estimated rent: $2,536 high
• Mortgage (P&I): −$472
• Tax from tax record: −$152 /mo · $1,819/yr
• Insurance: −$38
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$533
• Net cashflow: $1,276

Break-even live

Break-even rent $921

Max offer price $90,000

Occupancy floor 45%

Sensitivity live

Price	-10% $1,327	-5% $1,301	+0% $1,276	+5% $1,251	+10% $1,225
Rent	-10% $1,076	-5% $1,176	+0% $1,276	+5% $1,376	+10% $1,476
Rate	-1.0pp $1,321	-0.5pp $1,299	base $1,276	+0.5pp $1,253	+1.0pp $1,229

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: $22,500
• Closing costs: $2,700
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
513 5th St NE Puyallup, WA	3.0	1.0	1140	$2,575	$2.26	44d	1	0.40mi
407 Valley Ave NE Puyallup, WA	1.0–3.0	1.0–2.0	923	$2,499	$2.71	44d	1	0.47mi
501 2nd Ave NE Puyallup, WA	1.0–2.0	1.0–2.0	1506	$2,299	$1.53	44d	17	0.49mi
509 Valley Ave NE Puyallup, WA	3.0	2.5	1622	$3,098	$1.91	0d	6	0.49mi
6808 112th Ave E Unit B Puyallup, WA	3.0	1.5	1400	$2,300	$1.64	44d	1	0.58mi
4908 110th Ave Ct E Edgewood, WA	3.0	2.0	1100	$2,395	$2.18	19d	1	0.75mi
1617 E Main Puyallup, WA	1.0–2.0	1.0–2.0	930	$2,151	$2.31	0d	29	0.93mi
5406 122nd Ave E Unit B Edgewood, WA	2.0	1.0	1400	$2,325	$1.66	0d	1	1.03mi
5406 122nd Ave E Unit A Edgewood, WA	4.0	2.0	1900	$3,195	$1.68	0d	1	1.03mi
1017 13th Street Ct NW Puyallup, WA	3.0	2.0	1250	$2,200	$1.76	44d	1	1.10mi
507 15th St SE Puyallup, WA	3.0	2.5	1737	$2,750	$1.58	6d	1	1.15mi
601 5th St SW Unit C Puyallup, WA	2.0	2.5	1450	$2,450	$1.69	6d	1	1.17mi
120 10th St SW Puyallup, WA	4.0	2.5	1906	$3,549	$1.86	2d	1	1.19mi
1402 7th Ave SE Unit B Puyallup, WA	3.0	2.5	1351	$2,300	$1.70	44d	1	1.23mi
1022 10th Ave SE Puyallup, WA	2.0	1.5	1100	$1,950	$1.77	44d	1	1.41mi

Listing history 11 events

1. 2026-06-13
   statusdays on market $90,000 Pending 76 DOM
2. 2026-06-09
   days on market $90,000 Active 74 DOM
3. 2026-06-08
   days on market $90,000 Active 73 DOM
4. 2026-06-07
   days on market $90,000 Active 72 DOM
5. 2026-06-04
   days on market $90,000 Active 69 DOM
6. 2026-06-03
   days on market $90,000 Active 68 DOM
7. 2026-06-02
   days on market $90,000 Active 67 DOM
8. 2026-06-01
   days on market $90,000 Active 66 DOM
9. 2026-05-31
   days on market $90,000 Active 65 DOM
10. 2026-04-19
    price $100,000
11. 2026-03-27
    listed $115,000 Active

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

Tax reassessment forecast WA · Resets to sale price

• Current annual tax: $1,819 · $152/mo
• Projected year-2 tax: $1,819 · $152/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

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: $30,434
• − Mortgage interest: −$5,041
• − Property taxes: −$1,819
• − Insurance: −$1,248
• − Repairs & maintenance: −$2,435
• − Management: −$2,435
• − Depreciation: −$2,618
• Taxable income: $14,838
• Est. tax owed @ 24.0%: −$3,561
• After-tax cash flow: $11,751/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

-13.0% since first listed

2 events — show timeline

• 2026-04-19 Price Changed $100,000 NWMLS as Distributed by MLS Grid
• 2026-03-27 Listed $115,000 NWMLS as Distributed by MLS Grid

Property tax history

+6.3%/yr

Latest (2026): $1,819 · +3.3% YoY. Source: county tax records.