7301 NE 175th St #112 · Kenmore, WA 98028

$139,000

2 bd · 2.0 ba · 1,000 sqft · Manufactured · 326 Days on market

Built 1965 $139/sqft · 11% below area Est $156k · 11% under

---

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
• ARV discount +12.3/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +6.7/10.0
• Livability +4.3/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

AMAZING LOCATION ON RIVER! Welcome to this highly sought-after 55+ community, offering comfort, convenience, & scenic views along the Sammamish River. Enjoy access to private dock & boat launch! This beautifully maintained double-wide home features 2 bedrooms, 2 bathrooms, an updated kitchen with all appliances included, primary suite with walk-in closet, and a convenient laundry room. Outside, you'll find a covered front deck with carport, a brick-paved backyard perfect for relaxing or entertaining, & a storage shed for extra space. The community boasts a clubhouse overlooking the river, offering a welcoming environment for socializing and relaxation. All of this is in a pr

Key facts

• Walk-in closet
• Laundry room
• Private dock

Tags

• PRIVATE DOCK
• BOAT LAUNCH
• UPDATED KITCHEN
• WALK-IN CLOSET
• LAUNDRY ROOM
• COVERED FRONT DECK

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $139k.

Deal economics

• At list price, monthly cash flow is $783 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $139k).
• Recommended offer: $122k (12.0% below list) — sets the bar for market timing.
• Cap rate 13.6% vs local median 1.6% in Kenmore — 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 86/100 on livability (#21 in WA, #427 nationally) — a professional / high-income tenant draw. Strengths: crime A+, amenities A+, commute A+; Watch: cost of living F.
• Northshore School District (suburban): math 69% / reading 78% proficiency, ranked #9 of 291 in WA (top 3%) — strong family-tenant draw, lease renewals of 3-5y typical; only 12% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising (+2.1%/yr); 190 active listings in the ZIP; 31 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 $961 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 + 2.1% rent growth), your $39k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 326 days — a 12% lower offer ($122k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 7y ago; this cycle's ask has dropped $50k (26%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $70k; list at $139k implies a 99% gain — meaningful room to come down on a strong offer.

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 $122,320 (12.0% below list)

Questions for the listing agent

1. It's been on market 326 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1965 — 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 A-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. 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.
8. 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.
9. 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: 1.65% ✓
• Cap rate: 13.62%
• Cash-on-cash: 26.19%
• DSCR: 2.17
• GRM: 5.1

CMA / ARV

• ARV (median comp): $155,631
• List price: $139,000
• Delta: -10.69%
• Verdict: UNDERPRICED
• Comps: 5 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7614 NE Bothell Way #14	0.26mi	2/1.5	980 (-2%)	17mo	$140,000	$143	68
7301 NE 175th St #330	0.08mi	2/1.0	1,100 (+10%)	18mo	$50,000	$45	61
7031 NE 175th St #33	0.20mi	2/1.0	860 (-14%)	7mo	$78,000	$91	58

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 · 2.09% rent growth · sell at horizon

5-year hold

• IRR: 16.3%
• Equity multiple: 1.65×
• Total profit: $25,331
• Equity at exit: $20,725

10-year hold

• IRR: 24.3%
• Equity multiple: 3.01×
• Total profit: $78,190
• Equity at exit: $12,018

Cash invested: $38,920 (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 98028

• Rents YoY: 2.1%
• Active inventory: 190
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $2,291 high
• Mortgage (P&I): −$729
• Tax est. 1.5%: −$174 /mo · $2,085/yr
• Insurance: −$58
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$481
• Net cashflow: $783

Break-even live

Break-even rent $1,300

Max offer price $139,000

Occupancy floor 61%

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: $34,750
• Closing costs: $4,170
• Reserves months: —
• Total cash needed: —

Rent comps 31 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7345 NE 175th St Kenmore, WA	1.0	1.0	760	$1,850	$2.43	24d	1	0.05mi
7711 NE 175th St Kenmore, WA	1.0	1.0	709	$1,874	$2.64	2d	1	0.17mi
17525 80th Ave NE Kenmore, WA	1.0–2.0	1.0–2.0	900	$1,999	$2.22	5d	4	0.37mi
17811 80th Ave NE Kenmore, WA	2.0	2.5	1437	$3,000	$2.09	43d	1	0.38mi
17827 80th Ave NE Unit B102 Kenmore, WA	3.0	2.0	1346	$3,000	$2.23	24d	1	0.39mi
17921 80th Ave NE Unit A3 Kenmore, WA	3.0	2.5	1262	$3,000	$2.38	18d	1	0.42mi
7208 NE 182nd St Unit 7206 Kenmore, WA	1.0	1.0	888	$2,000	$2.25	2d	1	0.44mi
18235 73rd Ave NE Kenmore, WA	1.0–2.0	1.0	787	$1,850	$2.35	5d	4	0.46mi
18249 73rd Ave NE Kenmore, WA	1.0–2.0	1.0–2.0	827	$2,400	$2.90	10d	7	0.49mi
18151 68th Ave NE Kenmore, WA	1.0	1.0	720	$2,196	$3.05	5d	4	0.54mi
17527 83rd Pl NE Kenmore, WA	2.0	2.0	900	$1,990	$2.21	5d	1	0.56mi
6711 NE 182nd St Kenmore, WA	1.0–2.0	1.0–2.0	899	$2,644	$2.94	3d	10	0.59mi
7000 NE 186th Pl Kenmore, WA	2.0–3.0	2.5	1441	$3,284	$2.28	2d	6	0.60mi
17512 83rd Pl NE Kenmore, WA	1.0–2.0	1.0–2.0	850	$2,250	$2.65	2d	4	0.62mi
6410 NE 181st St Kenmore, WA	2.0	1.0	910	$2,500	$2.75	43d	1	0.73mi
18930 68th Ave NE Kenmore, WA	1.0–2.0	1.0–2.0	799	$2,497	$3.13	2d	6	0.81mi
8700 NE Bothell Way Bothell, WA	1.0–3.0	1.0–2.0	1038	$2,098	$2.02	2d	8	0.82mi
6125 NE 175th St Unit M102 Kenmore, WA	2.0	2.0	1462	$3,850	$2.63	24d	1	0.92mi
15914 84th Ave NE Unit C Kenmore, WA	2.0	1.0	850	$1,975	$2.32	43d	1	1.00mi
9226 NE 184th Pl Bothell, WA	3.0	1.5	1250	$3,900	$3.12	5d	1	1.27mi
17725 Hall Rd Bothell, WA	1.0–2.0	1.0	772	$1,950	$2.52	3d	1	1.30mi
9505 NE 180th St Unit 102 Bothell, WA	2.0	2.0	1070	$2,595	$2.43	11d	1	1.34mi
9517 NE 180th St Unit B106 Bothell, WA	1.0	1.0	730	$2,200	$3.01	20d	1	1.36mi
9517 NE 180th St Unit B207 Bothell, WA	2.0	1.0	840	$1,850	$2.20	2d	1	1.36mi
9517 NE 180th St Bothell, WA	1.0	1.0	730	$1,900	$2.60	24d	2	1.36mi
9525 NE 180th St Unit 306 Bothell, WA	1.0	1.0	740	$1,900	$2.57	2d	1	1.38mi
9525 NE 180th St Unit 303 Bothell, WA	2.0	2.0	1080	$2,375	$2.20	5d	1	1.38mi
18125 96th Ave NE Unit 4 Bothell, WA	2.0	1.0	900	$1,725	$1.92	24d	1	1.40mi
18125 96th Ave NE Apt 6 Bothell, WA	2.0	1.0	900	$1,895	$2.11	43d	1	1.40mi
18125 96th Ave NE Unit 7 Bothell, WA	2.0	1.0	900	$1,895	$2.11	5d	1	1.40mi
18305 96th Ave NE Bothell, WA	2.0	1.0	670	$2,300	$3.43	15d	2	1.42mi

Listing history 36 events

1. 2026-06-18
   days on market $139,000 Active 326 DOM
2. 2026-06-17
   days on market $139,000 Active 325 DOM
3. 2026-06-16
   days on market $139,000 Active 324 DOM
4. 2026-06-15
   days on market $139,000 Active 323 DOM
5. 2026-06-13
   days on market $139,000 Active 321 DOM
6. 2026-06-13
   days on market $139,000 Active 320 DOM
7. 2026-06-09
   days on market $139,000 Active 317 DOM
8. 2026-06-08
   days on market $139,000 Active 316 DOM
9. 2026-06-07
   days on market $139,000 Active 315 DOM
10. 2026-06-04
    days on market $139,000 Active 312 DOM
11. 2026-06-03
    days on market $139,000 Active 311 DOM
12. 2026-06-02
    days on market $139,000 Active 310 DOM
13. 2026-06-01
    days on market $139,000 Active 309 DOM
14. 2026-05-31
    days on market $139,000 Active 308 DOM
15. 2026-04-12
    price $139,000
16. 2026-02-26
    price $150,000
17. 2026-01-21
    price $155,000
18. 2025-11-19
    price $149,000
19. 2025-11-19
    status Active
20. 2025-11-08
    status Pending
21. 2025-10-28
    price $159,000
22. 2025-09-24
    price $169,000
23. 2025-08-07
    price $179,000
24. 2025-07-17
    listed $189,000 Active
25. 2023-05-18
    soldstatus $70,000 Closed
26. 2023-04-18
    status Pending
27. 2023-04-17
    listed $85,000 Active
28. 2021-02-02
    soldstatus $90,000 Sold
29. 2020-12-30
    status Pending Inspection
30. 2020-10-21
    price $100,000
31. 2020-08-18
    price $110,000
32. 2020-06-22
    price $120,000
33. 2020-05-25
    listed $125,000 Active
34. 2019-06-25
    soldstatus $72,900 Sold
35. 2019-04-23
    status Pending Feasibility
36. 2019-04-11
    listed $69,950 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 9/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥86°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 6/10 Major 9 unhealthy d/yr today · 9 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,492
• − Mortgage interest: −$7,786
• − Property taxes: −$2,085
• − Insurance: −$1,492
• − Repairs & maintenance: −$2,199
• − Management: −$2,199
• − Depreciation: −$4,044
• Taxable income: $7,686
• Est. tax owed @ 24.0%: −$1,845
• After-tax cash flow: $7,549/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: Northshore School District
• NCES district ID: 5305910
• Math proficiency: 69% ▼ -3.00%
• Reading proficiency: 78% ▼ -1.00%
• Median HH income: $92,951
• Composite: 67.41/100
• National rank: #826
• State rank: #9 of 291 in WA

Livability — Kenmore

• Score: 86/100
• State rank: #21
• US rank: #427

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Kenmore, WA
• County: King County · 2,251,916 people
• City population: 23,741
• Metro: Seattle-Tacoma-Bellevue, WA
• Population (ZIP): 23,741
• Household income: $139,764
• Rent vs Own: 30.7% rent · 69.3% own
• Severe rent burden: 557.0

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 0.55)
• Race & ethnicity: White 64% Asian 15% Hispanic / Latino 11% Two or more races 10% Black 3%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Portuguese 5% Italian 4% Slovak 2%
• Foreign-born: 22% · Canada, China, South Korea
• Languages at home: 73% English-only · Spanish 7% Chinese 5% Other Indo-European 3%

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: ▼ -907.61%
• Current HPI: 392.3867
• Rent YoY: ▲ 2.09%
• 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

+98.7% since first listed

22 events — show timeline

• 2026-04-12 Price Changed $139,000 NWMLS as Distributed by MLS Grid
• 2026-02-26 Price Changed $150,000 NWMLS as Distributed by MLS Grid
• 2026-01-21 Price Changed $155,000 NWMLS as Distributed by MLS Grid
• 2025-11-19 Price Changed $149,000 NWMLS as Distributed by MLS Grid
• 2025-11-19 Relisted — NWMLS as Distributed by MLS Grid
• 2025-11-08 Pending — NWMLS as Distributed by MLS Grid
• 2025-10-28 Price Changed $159,000 NWMLS as Distributed by MLS Grid
• 2025-09-24 Price Changed $169,000 NWMLS as Distributed by MLS Grid
• 2025-08-07 Price Changed $179,000 NWMLS as Distributed by MLS Grid
• 2025-07-17 Listed $189,000 NWMLS as Distributed by MLS Grid
• 2023-05-18 Sold (MLS) $70,000 NWMLS as Distributed by MLS Grid
• 2023-04-18 Pending — NWMLS as Distributed by MLS Grid
• 2023-04-17 Listed $85,000 NWMLS as Distributed by MLS Grid
• 2021-02-02 Sold (MLS) $90,000 NWMLS as Distributed by MLS Grid
• 2020-12-30 Pending — NWMLS as Distributed by MLS Grid
• 2020-10-21 Price Changed $100,000 NWMLS as Distributed by MLS Grid
• 2020-08-18 Price Changed $110,000 NWMLS as Distributed by MLS Grid
• 2020-06-22 Price Changed $120,000 NWMLS as Distributed by MLS Grid
• 2020-05-25 Listed $125,000 NWMLS as Distributed by MLS Grid
• 2019-06-25 Sold (MLS) $72,900 NWMLS as Distributed by MLS Grid
• 2019-04-23 Pending — NWMLS as Distributed by MLS Grid
• 2019-04-11 Listed $69,950 NWMLS as Distributed by MLS Grid