5025 Galleon Dr NE · Tacoma, WA 98422

$319,000

4 bd · 3.0 ba · 2,677 sqft · SingleFamily public records · 1 Days on market

Built 1995 ↓ 52% since listing

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Why this score? — see what drove the C- 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 +19.2/30.0
• ARV discount +7.5/15.0
• 1% rule +6.3/10.0
• DSCR +6.0/10.0
• Schools +4.2/10.0
• Livability +3.9/5.0
• Rent growth +3.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Brilliant home in nice neighborhood.

Key facts

• Built 1995

Property features AI

Exterior

• Home design: Built in 1995
• Construction: Living area approximately 2677
• Exterior features: Located in the Northeast Tacoma subdivision

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath single-family listed at $319k.

Deal economics

• At list price, monthly cash flow is $342 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $319k).
• Cap rate 7.6% vs local median 2.8% in Tacoma — 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 78/100 on livability (#127 in WA, #2,535 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, housing A+; Watch: cost of living D, crime F.
• Tacoma School District (urban): math 40% / reading 53% proficiency, ranked #169 of 291 in WA (top 58%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+5.0%/yr); 141 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 3,209 units permitted in Pierce County in 2024 (1,269 in 5+ unit buildings).
• This rent runs 36% of the median local income ($119k/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 $2k of loan paydown is wiped out by about $10k 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.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 3y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price.

Recommended offer $319,000

Questions for the listing agent

1. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are B-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?
4. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 1.13% ✓
• Cap rate: 7.58%
• Cash-on-cash: 4.59%
• DSCR: 1.20
• GRM: 7.4

CMA / ARV

• ARV (on-the-fly): $835,224
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5103 Tower Dr NE	0.05mi	4/2.5	2,776 (+4%)	1mo	$800,000	$288	89
2201 Hillside Dr NE	0.46mi	4/3.0	2,688 (+0%)	4mo	$895,000	$333	74
3005 45th St NE	0.40mi	4/2.5	2,453 (-8%)	1mo	$789,950	$322	64
5214 Tower Dr NE	0.12mi	3/2.5 (-1)	2,285 (-15%)	2mo	$800,000	$350	62
1928 Dumas Cir NE	0.62mi	3/2.5 (-1)	2,780 (+4%)	2mo	$850,000	$306	56
5614 Norpoint Way NE	0.69mi	3/2.5 (-1)	2,772 (+4%)	2mo	$450,000	$162	53
4616 Country Club Dr NE	0.69mi	4/3.5	2,849 (+6%)	2mo	$825,000	$290	53
1912 Dumas Cir NE	0.66mi	4/3.0	2,437 (-9%)	3mo	$705,000	$289	52
6008 Indian Trl NE	0.61mi	3/3.0 (-1)	2,928 (+9%)	1mo	$913,000	$312	50
3330 View Point Cir NE	0.49mi	4/2.5	2,293 (-14%)	2mo	$705,000	$307	50
5346 Frances Ave NE	0.73mi	3/3.0 (-1)	2,465 (-8%)	3mo	$1,288,000	$523	45
1817 58th St NE	0.74mi	3/3.0 (-1)	2,393 (-11%)	4mo	$760,000	$318	40

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 · 5.05% rent growth · sell at horizon

5-year hold

• IRR: -6.5%
• Equity multiple: 0.75×
• Total profit: $-22,129
• Equity at exit: $47,564

10-year hold

• IRR: 5.7%
• Equity multiple: 1.47×
• Total profit: $42,044
• Equity at exit: $27,581

Cash invested: $89,320 (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 98422

• Rents YoY: 5.0%
• Active inventory: 141
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $3,590 high
• Mortgage (P&I): −$1,673
• Tax from tax record: −$688 /mo · $8,259/yr
• Insurance: −$133
• HOA: −$0
• Vacancy / Maint / Mgmt: −$754
• Net cashflow: $342

Break-even live

Break-even rent $3,157

Max offer price $319,000

Occupancy floor 85%

Sensitivity live

Price	-10% $522	-5% $432	+0% $342	+5% $252	+10% $161
Rent	-10% $58	-5% $200	+0% $342	+5% $484	+10% $625
Rate	-1.0pp $503	-0.5pp $423	base $342	+0.5pp $259	+1.0pp $175

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: $79,750
• Closing costs: $9,570
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5204 Ridge Dr NE Tacoma, WA	4.0	3.0	2492	$3,500	$1.40	3d	1	0.19mi
5216 Ridge Dr NE Tacoma, WA	5.0	3.0	2458	$3,895	$1.58	4d	1	0.28mi
3571 41st St NE Tacoma, WA	4.0	2.5	2208	$3,895	$1.76	3d	1	0.84mi
3734 Braeburn Dr NE Tacoma, WA	3.0	3.0	1778	$3,195	$1.80	0d	1	0.89mi
4301 SW 320th Pl Federal Way, WA	4.0	2.5	1850	$3,100	$1.68	13d	1	1.40mi

Listing history 7 events

1. 2026-05-26
   listed $319,000 Active
2. 2023-03-30
   soldstatus $850,000 Closed
3. 2023-03-03
   status Pending
4. 2023-02-16
   listed $849,999 Active
5. 1999-06-17
   soldstatus $242,000
6. 1994-04-28
   soldstatus $220,000
7. 1992-12-03
   soldstatus $658,996

ⓘ 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: $8,259 · $688/mo
• Projected year-2 tax: $8,259 · $688/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 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 · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 6/10 Major 8 unhealthy d/yr today · 9 by 30 yrs out

Taxation est. · year 1

• Rental income: $43,078
• − Mortgage interest: −$17,869
• − Property taxes: −$8,259
• − Insurance: −$1,595
• − Repairs & maintenance: −$3,446
• − Management: −$3,446
• − Depreciation: −$9,280
• Taxable loss: −$818
• Est. tax savings @ 24.0%: +$196
• After-tax cash flow: $4,299/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: Tacoma School District
• NCES district ID: 5308700
• Math proficiency: 40% ▬ 0.00%
• Reading proficiency: 53% ▲ 1.00%
• Median HH income: $52,467
• Composite: 42.25/100
• National rank: #6987
• State rank: #169 of 291 in WA

Livability — Tacoma

• Score: 78/100
• State rank: #127
• US rank: #2535

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Tacoma, WA
• County: Pierce County · 788,257 people
• City population: 212,935
• Metro: Seattle-Tacoma-Bellevue, WA
• Population (ZIP): 21,644
• Household income: $118,604
• Rent vs Own: 21.9% rent · 78.1% own
• Severe rent burden: 377.0

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: Diverse neighborhood (Simpson 0.63)
• Race & ethnicity: White 58% Two or more races 14% Hispanic / Latino 11% Asian 11% Black 7% Native American 1% Pacific Islander 1%
• Hispanic origin (detail): Mexican 8% Puerto Rican 1%
• Common ancestry: Portuguese 5% Italian 3% Lithuanian 3%
• Foreign-born: 13% · Canada, South Korea, China
• Languages at home: 81% English-only · Spanish 5% Russian/Polish/Slavic 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: ▼ -557.41%
• Current HPI: 276.0281
• Rent YoY: ▲ 5.05%
• 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

-51.6% since first listed

7 events — show timeline

• 2026-05-26 Listed $319,000 FSBO.com
• 2023-03-30 Sold (MLS) $850,000 NWMLS as Distributed by MLS Grid
• 2023-03-03 Pending — NWMLS as Distributed by MLS Grid
• 2023-02-16 Listed $849,999 NWMLS as Distributed by MLS Grid
• 1999-06-17 Sold (Public Records) $242,000 Public Records
• 1994-04-28 Sold (Public Records) $220,000 Public Records
• 1992-12-03 Sold (Public Records) $658,996 Public Records

Property tax history

+4.1%/yr

Latest (2026): $8,259 · +5.2% YoY. Source: county tax records.