32711 Commission Ave · Black Diamond, WA 98010

$299,950

2 bd · 2.0 ba · 1,248 sqft · Manufactured · 43 Days on market

Built 1977 0.39 ac lot $240/sqft · 150% above area

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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 +18.0/30.0
• ARV discount +7.5/15.0
• DSCR +5.6/10.0
• Schools +5.5/10.0
• 1% rule +4.1/10.0
• Livability +4.0/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Investor or Renovation Opportunity in Black Diamond! This 2-bedroom, 1¾-bath manufactured home, built in 1977, is located on a generous . 386-acre lot that slopes downward from the home and offers room for improvement and future potential. The property features a newer roof and newer furnace, providing a solid foundation for repairs. An outbuilding adds useful storage or workspace. Condition reflects many years as a rental and the home will require renovation—cash purchase only due to condition. Ideal for an investor, builder, or owner-occupant looking to renovate the existing manufactured home or remove and replace with a new one (buyer to verify). All public utilities are co

Key facts

• Outbuilding
• Newer furnace
• Newer roof

Tags

• RENOVATION OPPORTUNITY
• NEWER ROOF
• NEWER FURNACE
• OUTBUILDING
• PUBLIC UTILITIES CONNECTED
• MINUTES FROM HISTORIC DOWNTOWN

Property features AI

Finance

• Other: Lot features include open space and value in land; Site features note cable TV, gas availability, high-speed internet, and outbuildings
• Financial info: Listing terms: Cash

Exterior

• Parking: Driveway; Off-street parking
• Utilities: Public water (City of Black Diamond); Sewer connected (City of Black Diamond); Power by PSE; Gas water heater (outside); Cable connected (Xfinity); Internet connected (Xfinity); Natural gas available
• Home design: Manufactured double-wide home (manufactured on land); One story; Main-level entry; Faces east; Property zoned R4
• Construction: Metal roof; Metal/vinyl construction materials; Built as a Buckingham double-wide; Foundation: block with tie-downs
• Exterior features: Metal/vinyl exterior; Outbuildings; Fruit trees on the property; Cable TV and high-speed internet available; Gas available

Interior

• Kitchen: Dishwasher; Stove/Range
• Bedrooms: 2 bedrooms (both on the main level)
• Flooring: Vinyl; Carpet
• Bathrooms: 1 full bath and 1 three-quarter bath (2 total main-level bathrooms); 1 bathtub and 2 showers
• Heating & cooling: Forced air heating; No central cooling
• Interior features: Dining room; Water heater (located outside)
• Laundry & utility: Washer included

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $300k.

Deal economics

• At list price, monthly cash flow is $256 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $274k (8.7% below list).
• Recommended offer: $274k (8.7% below list) — sets the bar for 1% rule.
• Cap rate 7.3% vs local median 2.2% in Black Diamond — 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 80/100 on livability (#87 in WA, #1,663 nationally) — a professional / high-income tenant draw. Strengths: crime A+, employment A+, housing A+; Watch: amenities D+, cost of living F.
• Enumclaw School District (suburban): math 54% / reading 68% proficiency, ranked #46 of 291 in WA (top 16%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Black Diamond Elementary (397 students, 25% FRL); Enumclaw Sr High School (1,339 students, 28% FRL) — zoned schools at 26% FRL track the district average.
• Market conditions: Rents rising (+2.2%/yr); 193 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 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 $2k of loan paydown is wiped out by about $9k 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.

Negotiation context

• It's been on market 43 days — a 3% lower offer ($291k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 22y 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.
• Current owner paid $180k; list at $300k implies a 67% gain — meaningful room to come down on a strong offer.

Recommended offer $273,839 (8.7% below list)

Questions for the listing agent

1. It's been on market 43 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 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 0.91% ✗
• Cap rate: 7.32%
• Cash-on-cash: 3.65%
• DSCR: 1.16
• GRM: 9.1

CMA / ARV

• ARV (median comp): $120,000
• List price: $299,950
• Delta: 149.96%
• Verdict: OVERPRICED
• Comps: 3 within 2.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
32415 5th Ave	0.25mi	3/1.0 (+1)	1,380 (+11%)	19mo	$340,000	$246	46

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 · 2.21% rent growth · sell at horizon

5-year hold

• IRR: -11.4%
• Equity multiple: 0.59×
• Total profit: $-34,542
• Equity at exit: $44,724

10-year hold

• IRR: -3.3%
• Equity multiple: 0.78×
• Total profit: $-18,078
• Equity at exit: $25,934

Cash invested: $83,986 (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 98010

• Home prices YoY: -19.9%
• Rents YoY: 2.2%
• Active inventory: 193
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $2,738 medium
• Mortgage (P&I): −$1,573
• Tax from tax record: −$210 /mo · $2,517/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$575
• Net cashflow: $256

Break-even live

Break-even rent $2,415

Max offer price $299,950

Occupancy floor 86%

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: $74,988
• Closing costs: $8,998
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
33820 Buckeye Ave SE Black Diamond, WA	2.0	2.0	1340	$3,150	$2.35	43d	1	1.00mi
22870 SE Fir St Black Diamond, WA	1.0–3.0	1.0–2.0	870	$2,702	$3.11	1d	14	1.36mi

Listing history 18 events

1. 2026-06-18
   days on market $299,950 Active 43 DOM
2. 2026-06-17
   days on market $299,950 Active 42 DOM
3. 2026-06-16
   days on market $299,950 Active 41 DOM
4. 2026-06-15
   days on market $299,950 Active 40 DOM
5. 2026-06-13
   days on market $299,950 Active 38 DOM
6. 2026-06-09
   days on market $299,950 Active 34 DOM
7. 2026-06-08
   days on market $299,950 Active 33 DOM
8. 2026-06-07
   days on market $299,950 Active 32 DOM
9. 2026-06-04
   days on market $299,950 Active 29 DOM
10. 2026-06-03
    days on market $299,950 Active 28 DOM
11. 2026-06-02
    days on market $299,950 Active 27 DOM
12. 2026-06-01
    days on market $299,950 Active 26 DOM
13. 2026-05-31
    days on market $299,950 Active 25 DOM
14. 2026-05-06
    listed $299,950 Active
15. 2006-11-14
    soldstatus $180,000
16. 2004-11-04
    soldstatus $125,000
17. 2004-11-04
    soldstatus $125,000
18. 2004-06-16
    listed $125,000

ⓘ 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: $2,517 · $210/mo
• Projected year-2 tax: $2,940 · $245/mo
• Expected delta: +$423/yr (+$35/mo · 16.8%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥87°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 8/10 Severe 11 unhealthy d/yr today · 17 by 30 yrs out

Taxation est. · year 1

• Rental income: $32,861
• − Mortgage interest: −$16,802
• − Property taxes: −$2,517
• − Insurance: −$1,500
• − Repairs & maintenance: −$2,629
• − Management: −$2,629
• − Depreciation: −$8,726
• Taxable loss: −$1,941
• Est. tax savings @ 24.0%: +$466
• After-tax cash flow: $3,534/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: Enumclaw School District
• NCES district ID: 5300001
• Math proficiency: 54% ▼ -1.00%
• Reading proficiency: 68% ▬ 0.00%
• Median HH income: $68,441
• Composite: 55.21/100
• National rank: #2736
• State rank: #46 of 291 in WA

Livability — Black Diamond

• Score: 80/100
• State rank: #87
• US rank: #1663

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Black Diamond, WA
• County: King County · 2,251,916 people
• City population: 6,857
• Metro: Seattle-Tacoma-Bellevue, WA
• Population (ZIP): 6,857
• Household income: $142,048
• Rent vs Own: 14.3% rent · 85.7% own
• Severe rent burden: 14.0

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: Predominantly White (74%)
• Race & ethnicity: White 74% Two or more races 12% Asian 10% Hispanic / Latino 9%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Portuguese 4% Italian 4% Slovak 4%
• Foreign-born: 14% · Canada, Jamaica, South Korea
• Languages at home: 87% English-only · Spanish 5% Other Indo-European 4% Tagalog/Filipino 1%

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: ▼ -80.21%
• Current HPI: 322.0508
• Rent YoY: ▲ 2.21%
• 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

+140.0% since first listed

5 events — show timeline

• 2026-05-06 Listed $299,950 NWMLS as Distributed by MLS Grid
• 2006-11-14 Sold (Public Records) $180,000 Public Records
• 2004-11-04 Sold (Public Records) $125,000 Public Records
• 2004-11-04 Sold (MLS) $125,000 NWMLS as Distributed by MLS Grid
• 2004-06-16 Listed $125,000 NWMLS as Distributed by MLS Grid

Property tax history

+5.0%/yr

Latest (2025): $2,517 · +2.4% YoY. Source: county tax records.