806 Pine Dr · Enumclaw, WA 98022

$109,495

2 bd · 2.0 ba · 1,040 sqft · Manufactured · 231 Days on market

Built 2019 $105/sqft · 20% above area Est $92k · 20% over

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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
• Schools +5.5/10.0
• Livability +4.4/5.0
• Rent growth +3.6/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

MOTIVATED SELLERS AND A NEW PRICE! Welcome to this unique manufactured home- a single wide in front and a double wide in back in the desirable 55+ community of Mt. Villa. 2019 New Build, not a property flip. The home meets all Energy Star specifications. The kitchen has 42" white shaker cabinets, stainless steel appliances, and vinyl plank flooring with an adjoining eat-in bar. Large primary bedroom w/ walk in closet -adjoining bathroom has nice built-in cabinets/drawers in the linen closet. 2nd Bedroom for guests & or office along with additional 2nd bathroom. Enjoy the convenience of a tall carport attached and 10x10 storage shed. Mt. Villa offers a vibrant lifestyle with a clu

Key facts

• Eat-in bar
• Built-in cabinets
• Walk in closet

Tags

• WHITE SHAKER CABINETS
• STAINLESS STEEL APPLIANCES
• VINYL PLANK FLOORING
• EAT-IN BAR
• WALK IN CLOSET
• BUILT-IN CABINETS

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $109k.

Deal economics

• At list price, monthly cash flow is $855 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $109k).
• Recommended offer: $96k (12.0% below list) — sets the bar for market timing.
• Cap rate 15.7% vs local median 2.4% in Enumclaw — 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 88/100 on livability (#12 in WA, #222 nationally) — a professional / high-income tenant draw. Strengths: crime A+, amenities A+, housing A+; Watch: cost of living D-.
• 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.
• Market conditions: Rents rising fast (+4.3%/yr); 223 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals leasing fast (median 10d 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 $757 of loan paydown is wiped out by about $3k 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 + 4.3% rent growth), your $31k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 231 days — a 12% lower offer ($96k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 16y ago; this cycle's ask has dropped $50k (32%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

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

Recommended offer $96,355 (12.0% below list)

Questions for the listing agent

1. It's been on market 231 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: 1.86% ✓
• Cap rate: 15.66%
• Cash-on-cash: 33.47%
• DSCR: 2.49
• GRM: 4.5

CMA / ARV

• ARV (median comp): $91,614
• List price: $109,495
• Delta: 19.52%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2150 Oak Ave	0.56mi	3/2.0 (+1)	1,064 (+2%)	9mo	$150,000	$141	57
300 Grand Fir Dr	0.47mi	3/2.0 (+1)	1,120 (+8%)	20mo	$189,999	$170	44
201 Grand Fir Dr	0.47mi	3/2.0 (+1)	1,188 (+14%)	14mo	$144,000	$121	38

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 · 4.32% rent growth · sell at horizon

5-year hold

• IRR: 30.2%
• Equity multiple: 2.29×
• Total profit: $39,493
• Equity at exit: $16,326

10-year hold

• IRR: 38.2%
• Equity multiple: 4.79×
• Total profit: $116,214
• Equity at exit: $9,467

Cash invested: $30,659 (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 98022

• Rents YoY: 4.3%
• Active inventory: 223
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $2,040 high
• Mortgage (P&I): −$574
• Tax est. 1.5%: −$137 /mo · $1,642/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$428
• Net cashflow: $855

Break-even live

Break-even rent $958

Max offer price $109,495

Occupancy floor 53%

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: $27,374
• Closing costs: $3,285
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
847 Blake St Enumclaw, WA	3.0	1.0	1064	$2,000	$1.88	1d	1	0.17mi
750 Watson St N Enumclaw, WA	1.0–2.0	1.0	771	$1,842	$2.39	1d	6	0.31mi
615 Watson St N Unit 617B Enumclaw, WA	2.0	1.0	960	$1,999	$2.08	1d	1	0.40mi
141 Leos Pl Enumclaw, WA	2.0	1.0	850	$1,850	$2.18	43d	1	0.41mi
141 Leos Pl Enumclaw, WA	2.0	1.0	850	$1,825	$2.15	24d	1	0.41mi
653 Myrtine St Unit A Enumclaw, WA	2.0	1.0	850	$1,895	$2.23	22d	1	0.46mi
556 Bondgard Ave E Enumclaw, WA	3.0	2.0	1480	$2,995	$2.02	10d	1	0.69mi
312 Charwila Ln Enumclaw, WA	2.0	1.0	894	$1,750	$1.96	12d	1	0.76mi
250 Charwila Ln Enumclaw, WA	2.0	1.0	894	$1,750	$1.96	2d	1	0.77mi
2630 Warner Ave Enumclaw, WA	1.0–2.0	1.0	762	$2,000	$2.62	1d	1	0.85mi
1571 Kibler Ave Enumclaw, WA	3.0	2.0	1200	$2,600	$2.17	15d	1	0.94mi
1571 Kibler Ave Enumclaw, WA	3.0	2.0	1200	$2,600	$2.17	20d	1	0.94mi
320 Chinook Ave Enumclaw, WA	2.0–3.0	1.0–2.0	923	$1,890	$2.05	1d	7	0.97mi

Listing history 26 events

1. 2026-06-18
   days on market $109,495 Active 231 DOM
2. 2026-06-17
   days on market $109,495 Active 230 DOM
3. 2026-06-16
   days on market $109,495 Active 229 DOM
4. 2026-06-15
   price $109,495 Active 228 DOM
5. 2026-06-15
   days on market $119,495 Active 228 DOM
6. 2026-06-13
   days on market $119,495 Active 226 DOM
7. 2026-06-09
   days on market $119,495 Active 222 DOM
8. 2026-06-08
   days on market $119,495 Active 221 DOM
9. 2026-06-07
   days on market $119,495 Active 220 DOM
10. 2026-06-04
    days on market $119,495 Active 217 DOM
11. 2026-06-03
    days on market $119,495 Active 216 DOM
12. 2026-06-02
    days on market $119,495 Active 215 DOM
13. 2026-06-01
    days on market $119,495 Active 214 DOM
14. 2026-05-31
    days on market $119,495 Active 213 DOM
15. 2026-04-28
    price $129,250
16. 2026-03-25
    price $136,495
17. 2026-01-29
    price $144,250
18. 2025-12-01
    price $157,400
19. 2025-10-30
    listed $159,900 Active
20. 2023-05-26
    soldstatus $142,000 Closed
21. 2023-05-10
    status Pending
22. 2023-03-30
    price $152,999
23. 2023-01-29
    listed $155,900 Active
24. 2010-03-15
    soldstatus $11,000 Sold
25. 2010-03-05
    status Pending
26. 2010-01-04
    listed $15,000 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) · 66% 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 6/10 Major 10 unhealthy d/yr today · 12 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,483
• − Mortgage interest: −$6,133
• − Property taxes: −$1,642
• − Insurance: −$547
• − Repairs & maintenance: −$1,959
• − Management: −$1,959
• − Depreciation: −$3,185
• Taxable income: $9,057
• Est. tax owed @ 24.0%: −$2,174
• After-tax cash flow: $8,087/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 — Enumclaw

• Score: 88/100
• State rank: #12
• US rank: #222

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Enumclaw, WA
• County: King County · 2,251,916 people
• City population: 22,418
• Metro: Seattle-Tacoma-Bellevue, WA
• Population (ZIP): 22,418
• Household income: $120,406
• Rent vs Own: 18.8% rent · 81.2% own
• Severe rent burden: 382.0

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 (78%)
• Race & ethnicity: White 78% Hispanic / Latino 10% Two or more races 9% Asian 2% Native American 2%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Portuguese 7% Italian 4% Slovak 3%
• Foreign-born: 6% · Canada
• Languages at home: 91% English-only · Spanish 6% Other Indo-European 1% German/W. Germanic 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: ▼ -605.16%
• Current HPI: 297.9161
• Rent YoY: ▲ 4.32%
• 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

+761.7% since first listed

12 events — show timeline

• 2026-04-28 Price Changed $129,250 NWMLS as Distributed by MLS Grid
• 2026-03-25 Price Changed $136,495 NWMLS as Distributed by MLS Grid
• 2026-01-29 Price Changed $144,250 NWMLS as Distributed by MLS Grid
• 2025-12-01 Price Changed $157,400 NWMLS as Distributed by MLS Grid
• 2025-10-30 Listed $159,900 NWMLS as Distributed by MLS Grid
• 2023-05-26 Sold (MLS) $142,000 NWMLS as Distributed by MLS Grid
• 2023-05-10 Pending — NWMLS as Distributed by MLS Grid
• 2023-03-30 Price Changed $152,999 NWMLS as Distributed by MLS Grid
• 2023-01-29 Listed $155,900 NWMLS as Distributed by MLS Grid
• 2010-03-15 Sold (MLS) $11,000 NWMLS as Distributed by MLS Grid
• 2010-03-05 Pending — NWMLS as Distributed by MLS Grid
• 2010-01-04 Listed $15,000 NWMLS as Distributed by MLS Grid