322 Chicago Blvd S #8 · Pacific, WA 98047

$129,000

3 bd · 1.0 ba · 980 sqft · Manufactured · 198 Days on market

Built 1984 ↓ 18% since listing

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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
• DSCR +10.0/10.0
• 1% rule +9.2/10.0
• ARV discount +7.5/15.0
• Schools +4.7/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Beautifully remodeled 1984 manufactured home featuring 3 bedrooms and 1 full bath. This 980 sq ft home offers a brand-new roof, fresh updates throughout, and an open, inviting layout. Located in Central Valley Mobile Home Park, an all-ages community in Pacific, WA, with easy access to main roads, shopping, and local amenities. Affordable and move-in ready!

Key facts

• Brand new roof
• Local amenities
• Open inviting layout

Tags

• REMODELED MANUFACTURED HOME
• BRAND NEW ROOF
• OPEN INVITING LAYOUT
• EASY ACCESS TO MAIN ROADS
• LOCAL AMENITIES

Property features AI

Finance

• Other: Buyer to verify school information
• Financial info: Listing terms: Cash or Conventional
• HOA & community: Located in Central Valley Mobile Home Park (park approved for sale); Approximately 17 homes in the park; Land lease: $1,100

Exterior

• Parking: 2 open/uncovered parking spaces
• Utilities: Electric energy source; Public water; Public sewer; Power provided by PSE
• Home design: Manufactured single-wide home; One story; Residential property in good condition; Manufactured after 6/15/1976
• Construction: Wood construction; Composition roof; Tie-down foundation
• Exterior features: Wood exterior products; Recreational area (manufactured home park amenity)

Interior

• Kitchen: Dishwasher; Stove/Range; Refrigerator
• Bedrooms: 3 bedrooms
• Flooring: Vinyl plank flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; No central cooling
• Interior features: Dishwasher; Dryer; Refrigerator; Stove/Range; Washer
• Laundry & utility: Washer and Dryer included

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath manufactured listed at $129k.

Deal economics

• At list price, monthly cash flow is $554 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $129k).
• Recommended offer: $114k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 80/100 on livability (#99 in WA, #1,917 nationally) — a professional / high-income tenant draw. Strengths: housing A+, health & safety A+, employment A-; Watch: schools C-, amenities F, cost of living D-.
• Auburn School District (urban): math 47% / reading 56% proficiency, ranked #125 of 291 in WA (top 43%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 18 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 10,555 units permitted in King County in 2024 (7,119 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $892 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• King County population projected at +44% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $36k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 198 days — a 12% lower offer ($114k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

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

Recommended offer $113,520 (12.0% below list)

Questions for the listing agent

1. It's been on market 198 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.42% ✓
• Cap rate: 11.44%
• Cash-on-cash: 18.39%
• DSCR: 1.82
• GRM: 5.9

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: 10.1%
• Equity multiple: 1.40×
• Total profit: $14,377
• Equity at exit: $19,234

10-year hold

• IRR: 19.2%
• Equity multiple: 2.61×
• Total profit: $58,026
• Equity at exit: $11,154

Cash invested: $36,120 (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 98047

• Home prices YoY: -21.2%
• Active inventory: 18
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $1,829 high
• Mortgage (P&I): −$676
• Tax est. 1.5%: −$161 /mo · $1,935/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$384
• Net cashflow: $554

Break-even live

Break-even rent $1,128

Max offer price $129,000

Occupancy floor 65%

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: $32,250
• Closing costs: $3,870
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
116 Tacoma Blvd N Unit A1 Pacific, WA	2.0	1.0	845	$1,425	$1.69	2d	1	0.33mi
112 Tacoma Blvd N Unit B2 Pacific, WA	2.0	1.0	845	$1,525	$1.80	2d	1	0.35mi
104 Tacoma Blvd N Unit 12 Pacific, WA	2.0	1.0	880	$1,445	$1.64	22d	1	0.36mi
508 4th Ave SE Pacific, WA	2.0	1.0	885	$2,100	$2.37	24d	1	0.74mi
732 4th Ave NE Pacific, WA	2.0	1.0	850	$1,805	$2.12	5d	2	1.23mi

Listing history 18 events

1. 2026-06-18
   days on market $129,000 Active 198 DOM
2. 2026-06-17
   days on market $129,000 Active 197 DOM
3. 2026-06-16
   days on market $129,000 Active 196 DOM
4. 2026-06-15
   days on market $129,000 Active 195 DOM
5. 2026-06-13
   days on market $129,000 Active 193 DOM
6. 2026-06-13
   days on market $129,000 Active 192 DOM
7. 2026-06-09
   days on market $129,000 Active 189 DOM
8. 2026-06-08
   days on market $129,000 Active 188 DOM
9. 2026-06-07
   days on market $129,000 Active 187 DOM
10. 2026-06-04
    days on market $129,000 Active 184 DOM
11. 2026-06-03
    days on market $129,000 Active 183 DOM
12. 2026-06-02
    days on market $129,000 Active 182 DOM
13. 2026-06-01
    days on market $129,000 Active 181 DOM
14. 2026-05-31
    days on market $129,000 Active 180 DOM
15. 2026-02-25
    price $129,000
16. 2026-01-20
    price $139,000
17. 2025-12-19
    price $149,500
18. 2025-12-02
    listed $157,000 Active

ⓘ 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 5/10 Major FEMA zone X (unshaded) · 26% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥88°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 7/10 Severe 10 unhealthy d/yr today · 11 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,949
• − Mortgage interest: −$7,226
• − Property taxes: −$1,935
• − Insurance: −$645
• − Repairs & maintenance: −$1,756
• − Management: −$1,756
• − Depreciation: −$3,753
• Taxable income: $4,879
• Est. tax owed @ 24.0%: −$1,171
• After-tax cash flow: $5,471/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: Auburn School District
• NCES district ID: 5300300
• Math proficiency: 47% ▼ -3.00%
• Reading proficiency: 56% ▼ -1.00%
• Median HH income: $58,048
• Composite: 46.73/100
• National rank: #5240
• State rank: #125 of 291 in WA

Livability — Pacific

• Score: 80/100
• State rank: #99
• US rank: #1917

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pacific, WA
• County: King County · 2,251,916 people
• City population: 6,817
• Metro: Seattle-Tacoma-Bellevue, WA
• Population (ZIP): 6,817
• Household income: $115,188
• Rent vs Own: 42.7% rent · 57.3% own
• Severe rent burden: 248.0

Population outlook (King County) Hauer SSP2

• Today (2025): 2,576,485 people
• By 2030: 2,803,316 · +8.8%
• By 2040: 3,255,921 · +26.4%
• By 2050: 3,706,444 · +43.9%
• By 2075: 4,746,063 · +84.2%
• By 2100: 5,407,730 · +109.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.69)
• Race & ethnicity: White 50% Hispanic / Latino 24% Two or more races 17% Asian 8% Black 6% Pacific Islander 6%
• Hispanic origin (detail): Mexican 23%
• Common ancestry: Italian 6% Scotch-Irish 5% Subsaharan African 4%
• Foreign-born: 23% · Canada, Vietnam
• Languages at home: 63% English-only · Spanish 19% Russian/Polish/Slavic 10% Other Asian/Pacific 4%

Political lean MEDSL · King

• 2024 margin: Solid D (+51.7) · D 74.2% · R 22.5% · Other 3.4%
• 2008→2024 swing: +9.6pp toward D · 2008: 42.1pp · 2024: 51.7pp
• All cycles: 2024: D+51.7 2020: D+52.7 2016: D+50.4 2012: D+39.9 2008: D+42.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -88.97%
• Current HPI: 331.3061
• Rent YoY: —
• 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

-17.8% since first listed

4 events — show timeline

• 2026-02-25 Price Changed $129,000 NWMLS as Distributed by MLS Grid
• 2026-01-20 Price Changed $139,000 NWMLS as Distributed by MLS Grid
• 2025-12-19 Price Changed $149,500 NWMLS as Distributed by MLS Grid
• 2025-12-02 Listed $157,000 NWMLS as Distributed by MLS Grid