1114 29th St Pl NW #29 · Puyallup, WA 98371

$99,000

2 bd · 2.0 ba · 1,344 sqft · Manufactured public records · 98 Days on market

Built 1976 Good condition $74/sqft · 50% below area ↓ 16% 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.4/10.0
• Livability +4.1/5.0
• Condition / age +3.8/5.0
• Rent growth +2.9/5.0
• Appreciation +0.0/10.0

Listing remarks

Move-In ready open concept 2 bedroom/ 2 bathroom PLUS BONUS ROOM manufactured home in an all ages park w/ very low $720 a month space rent. Stainless steel appliances, tile work, 5 year old flooring, 8 year old roof and furnace with Nest thermostat system, several updated windows, gorgeous interior design throughout, large front porch, non-smoking pet free household (although pets are allowed). Right off of River Road in the Puyallup Valley near shopping and schools. Ask me who can loan on this with 30% down!

Key facts

• Induction stove
• Large front porch
• Updated windows

Tags

• MOVE IN READY
• STAINLESS STEEL APPLIANCES
• INDUCTION STOVE
• TILE WORK
• UPDATED WINDOWS
• LARGE FRONT PORCH

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $99k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $889 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $99k).
• Recommended offer: $90k (9.0% below list) — sets the bar for market timing.
• Cap rate 17.9% vs local median 2.6% in Puyallup — 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 82/100 on livability (#70 in WA, #1,234 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, employment A+; Watch: crime F, cost of living F.
• 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 (+1.4%/yr); 228 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); 43% 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $684 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 + 1.4% rent growth), your $28k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 98 days — a 9% lower offer ($90k) 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 $90,090 (9.0% below list)

Questions for the listing agent

1. It's been on market 98 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1976 — 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 2.08% ✓
• Cap rate: 17.88%
• Cash-on-cash: 41.38%
• DSCR: 2.84
• GRM: 4.0

CMA / ARV

• ARV (median comp): $198,448
• List price: $99,000
• Delta: -50.11%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5412 76th Ave E Unit B	0.41mi	3/2.0 (+1)	1,352 (+1%)	8mo	$170,000	$126	68
5412 76th Ave E Lot M	0.41mi	3/2.0 (+1)	1,512 (+12%)	10mo	$227,000	$150	47

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 · 1.41% rent growth · sell at horizon

5-year hold

• IRR: 32.8%
• Equity multiple: 2.35×
• Total profit: $37,427
• Equity at exit: $14,761

10-year hold

• IRR: 38.9%
• Equity multiple: 4.35×
• Total profit: $92,898
• Equity at exit: $8,560

Cash invested: $27,720 (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 98371

• Rents YoY: 1.4%
• Active inventory: 228
• Price-to-rent: 4.0×

Monthly cashflow live

• Estimated rent: $2,062 high
• Mortgage (P&I): −$519
• Tax from tax record: −$113 /mo · $1,351/yr
• Insurance: −$41
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$433
• Net cashflow: $889

Break-even live

Break-even rent $936

Max offer price $99,000

Occupancy floor 52%

Sensitivity live

Price	-10% $946	-5% $918	+0% $889	+5% $861	+10% $833
Rent	-10% $727	-5% $808	+0% $889	+5% $971	+10% $1,052
Rate	-1.0pp $939	-0.5pp $915	base $889	+0.5pp $864	+1.0pp $838

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: $24,750
• Closing costs: $2,970
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1503 18th St NW Puyallup, WA	1.0–2.0	1.0	840	$1,730	$2.06	11d	4	0.78mi
8009 50th St E Fife, WA	2.0	1.0	1100	$2,150	$1.95	19d	1	0.86mi
1017 13th Street Ct NW Puyallup, WA	3.0	2.0	1250	$2,200	$1.76	44d	1	1.12mi
508 11th St NW Puyallup, WA	2.0	1.0	1037	$2,000	$1.93	44d	1	1.25mi
508 11th St NW Unit H Puyallup, WA	2.0	1.0	1037	$1,800	$1.74	17d	1	1.25mi
305 13th St SW Unit D Puyallup, WA	2.0	1.5	880	$1,820	$2.07	44d	1	1.35mi
6753 Park St E Fife, WA	3.0	2.5	1814	$2,895	$1.60	0d	1	1.38mi

Listing history 20 events

1. 2026-06-21
   days on market $99,000 Active 98 DOM
2. 2026-06-18
   days on market $99,000 Active 95 DOM
3. 2026-06-17
   days on market $99,000 Active 94 DOM
4. 2026-06-16
   days on market $99,000 Active 93 DOM
5. 2026-06-15
   days on market $99,000 Active 92 DOM
6. 2026-06-13
   days on market $99,000 Active 90 DOM
7. 2026-06-13
   days on market $99,000 Active 89 DOM
8. 2026-06-09
   days on market $99,000 Active 86 DOM
9. 2026-06-08
   days on market $99,000 Active 85 DOM
10. 2026-06-07
    days on market $99,000 Active 84 DOM
11. 2026-06-04
    days on market $99,000 Active 81 DOM
12. 2026-06-03
    days on market $99,000 Active 80 DOM
13. 2026-06-02
    days on market $99,000 Active 79 DOM
14. 2026-06-01
    days on market $99,000 Active 78 DOM
15. 2026-05-31
    days on market $99,000 Active 77 DOM
16. 2026-05-04
    price $105,000
17. 2026-04-19
    price $110,000
18. 2026-04-12
    price $115,000
19. 2026-04-01
    price $120,000
20. 2026-03-15
    listed $125,000 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: $1,351 · $113/mo
• Projected year-2 tax: $1,351 · $113/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 8/10 Severe FEMA zone X (unshaded) · 78% 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: $24,743
• − Mortgage interest: −$5,546
• − Property taxes: −$1,351
• − Insurance: −$1,292
• − Repairs & maintenance: −$1,979
• − Management: −$1,979
• − Depreciation: −$2,880
• Taxable income: $9,715
• Est. tax owed @ 24.0%: −$2,332
• After-tax cash flow: $8,342/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.

Condition & rehab AI · 13 photos

Good 75/100 Cosmetic rehab

This move-in ready manufactured home is in good condition with updated interiors and appliances, making it an attractive option for both resale and rental.

Value-add opportunities

• Both update landscaping — improves curb appeal and rental value
• Both install smart home security system — enhances safety and rental appeal

Renovation cost estimate screening

Value-add ROI direction

• Both update landscaping — improves curb appeal and rental value ↑
• Both install smart home security system — enhances safety and rental appeal ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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 — Puyallup

• Score: 82/100
• State rank: #70
• US rank: #1234

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Puyallup, WA
• County: Pierce County · 788,257 people
• City population: 159,771
• Metro: Seattle-Tacoma-Bellevue, WA
• Population (ZIP): 24,682
• Household income: $97,242
• Rent vs Own: 28.1% rent · 71.9% own
• Severe rent burden: 507.0

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 (70%)
• Race & ethnicity: White 70% Two or more races 12% Hispanic / Latino 11% Asian 6% Black 4%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Portuguese 5% Slovak 3% Italian 2%
• Foreign-born: 10% · Canada, South Korea, Vietnam
• Languages at home: 85% English-only · Spanish 5% Korean 2% Vietnamese 2%

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: ▼ -580.45%
• Current HPI: 295.2143
• Rent YoY: ▲ 1.41%
• 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

-16.0% since first listed

5 events — show timeline

• 2026-05-04 Price Changed $105,000 NWMLS as Distributed by MLS Grid
• 2026-04-19 Price Changed $110,000 NWMLS as Distributed by MLS Grid
• 2026-04-12 Price Changed $115,000 NWMLS as Distributed by MLS Grid
• 2026-04-01 Price Changed $120,000 NWMLS as Distributed by MLS Grid
• 2026-03-15 Listed $125,000 NWMLS as Distributed by MLS Grid

Property tax history

+11.1%/yr

Latest (2026): $1,351 · +11.1% YoY. Source: county tax records.