201 Union Ave SE #193 · Renton, WA
Flood risk 1/10 · Minimal
- FEMA flood zone
- X (unshaded)
- Chance of flooding over 30 yrs
- 0.0%
- Est. flood insurance / yr
- $507 – $1,088
Fire risk 1/10 · Minimal
- Est. fire insurance / yr
- $604 – $1,122
Heat risk 3/10 · Minor
- Hot days now (above 86°F)
- 7 days/yr
- Hot days in 30 yrs
- 15 days/yr
Wind risk 1/10 · Minimal
- Chance of severe wind over 30 yrs
- —
Air-quality risk 7/10 · Major
- Unhealthy air days now
- 10 days/yr
- Unhealthy air days in 30 yrs
- 11 days/yr
Risk factors via First Street. Map © Google.
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 +22.5/30.0
- ARV discount +15.0/15.0
- 1% rule +7.5/10.0
- DSCR +7.5/10.0
- Schools +4.7/10.0
- Livability +4.2/5.0
- Rent growth +2.6/5.0
- Appreciation +2.5/10.0
- Condition / age +2.2/5.0
- Manufactured-home adj. -5.5
$105,500
201 Union Ave SE #193 · Renton, WA 98059
2 bd · 2.0 ba · 1,792 sqft · Manufactured
· 1 Days on market
Manufactured home
55+ age-restricted
Built 1980
$59/sqft
· 40% below area
Est $177k · 40% under
🖨 Deal sheet (PDF) 📄 Offer letter ✓ Due diligence
Listing remarks
MUST SEE! NEW CARPET! NEW PICTURES! NEW PRICE! Nearly 1800 sq ft, two very large bedrooms and bathrooms. Huge walk-in closet, spacious living room and rec room, with a very sizeable kitchen and dining room with breakfast bar. So much space to spread out. It has vinyl windows, two-year-old roof, great insulation and multiple mini-split heat pumps to keep that perfect temperature all year round. There is a large, covered patio and raised garden beds for your outdoor enjoyment. There is also a good-sized storage shed and a two-car carport for plenty of parking. Friendly gated 55+ community with a pool, hot tub, sauna, dog park, club house, pickleball court, work out room, golf, and RV storage.
Key facts
- Primary retreat
- Mini-split heat pump
- Breakfast bar
Tags
Neighborhood map
Sold within
Property
Rental comp
Retail
Costco
Walmart
Transit
Schools
Stadiums
Fortune 500
· Circle radius: 6.0 mi
Loading POIs…
What this means for you Summary
Snapshot
- This is a 2-bed/2.0-bath manufactured listed at $106k. Condition is rated fair.
Deal economics
- At list price, monthly cash flow is $1k ($12k/yr) — positive.
- The deal already cash-flows at list — no discount required.
- Meets the 1% rule at list price ($2k rent vs $106k).
- Cap rate 18.1% vs local median 2.4% in Renton — 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 83/100 on livability (#52 in WA, #949 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, employment A+; Watch: crime D-, cost of living F.
- Renton School District (urban): math 47% / reading 55% proficiency, ranked #119 of 291 in WA (top 41%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
- Zoned schools: Maplewood Heights Elementary School (610 students, 27% FRL); Mcknight Middle School (861 students, 52% FRL); Hazen Senior High School (1,871 students, 40% FRL) — zoned schools at 39% FRL track the district average.
- Market conditions: Rents flat; 345 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 45% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $729 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 + 0.3% rent growth), your $30k cash investment doubles in ~3 years — after that, you're playing with house money.
Negotiation context
- Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
- 2 sale attempts since 20y 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 $68k; list at $106k implies a 54% gain — meaningful room to come down on a strong offer.
Recommended offer
$105,500
Questions for the listing agent
- Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
- Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
- 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?
- Crime grade is D 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?
- 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.
- 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.
- 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
- 2.12% ✓
- Cap rate
- 18.05%
- Cash-on-cash
- 42.01%
- DSCR
- 2.87
- GRM
- 3.9
CMA / ARV
- ARV (median comp)
- $176,692
- List price
- $105,500
- Delta
- -40.29%
- Verdict
- UNDERPRICED
- Comps
- 19 within 1.0 mi
Show comp detail 10 sales within ~0.75 mi
| Address | Dist | Beds/Ba | Sqft | Sold | Price | $/sf | Match |
|---|---|---|---|---|---|---|---|
| 375 Union Ave SE #146 | 0.20mi | 3/2.0 (+1) | 1,782 (-1%) | 2mo | $220,000 | $123 | 84 |
| 201 Union Ave SE #183 | 0.00mi | 3/2.0 (+1) | 1,876 (+5%) | 5mo | $65,000 | $35 | 83 |
| 201 Union Ave SE #147 | 0.05mi | 2/2.0 | 1,536 (-14%) | 4mo | $100,000 | $65 | 71 |
| 201 Union Ave SE #185 | 0.04mi | 2/2.0 | 1,944 (+8%) | 20mo | $160,000 | $82 | 68 |
| 201 Union Ave SE #128 | 0.04mi | 2/2.0 | 1,536 (-14%) | 9mo | $75,000 | $49 | 67 |
| 201 Union Ave SE #251 | 0.04mi | 2/2.0 | 1,536 (-14%) | 11mo | $184,995 | $120 | 65 |
| 201 Union Ave SE #197 | 0.05mi | 3/2.0 (+1) | 2,040 (+14%) | 8mo | $125,000 | $61 | 63 |
| 201 Union Ave SE #58 | 0.05mi | 3/2.0 (+1) | 1,536 (-14%) | 10mo | $130,000 | $85 | 60 |
| 201 Union Ave SE #188 | 0.22mi | 2/2.0 | 1,536 (-14%) | 12mo | $179,000 | $117 | 56 |
| 375 Union Ave SE #86 | 0.10mi | 3/2.0 (+1) | 1,568 (-12%) | 16mo | $165,000 | $105 | 56 |
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 · 0.29% rent growth · sell at horizon
5-year hold
- IRR
- 35.6%
- Equity multiple
- 2.45×
- Total profit
- $42,872
- Equity at exit
- $15,730
10-year hold
- IRR
- 40.9%
- Equity multiple
- 4.36×
- Total profit
- $99,243
- Equity at exit
- $9,122
Cash invested: $29,540 (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.
Balanced market
Market conditions
within 1.0 mi — comparable homes for sale
Active competition Active MLS
- For sale now
- 5 active · 4 under contract
- Months of supply
- 5.0 mo (20%/mo absorbed)
- Median asking
- $110,000 ($77/sqft)
- Median days on market
- 116 d
- This list price
- 40% of active listings are priced below it
- ARV vs active asking
- +28.7% above current asking $/sqft
Closed sales set the value; these active listings set current market conditions and a practical price ceiling.
ZIP-level market 98059
- Rents YoY
- 0.3%
- Active inventory
- 345
- Price-to-rent
- 3.9×
Monthly cashflow live
↻
- Estimated rent
- $2,232 high interval (Pro) →
- Mortgage (P&I)
- −$553
- Tax est. 1.5%
- −$132 /mo · $1,582/yr
- Insurance
- −$44
- HOA
- −$0
- Lot rent leased land?
- −$0
- Vacancy / Maint / Mgmt
- −$469
- Net cashflow
- $1,034
Break-even live
Break-even rent
$923
Max offer price
$105,500
Occupancy floor
49%
Sensitivity live
| Price | -10% $1,107 | -5% $1,071 | +0% $1,034 | +5% $998 | +10% $961 |
|---|---|---|---|---|---|
| Rent | -10% $858 | -5% $946 | +0% $1,034 | +5% $1,122 | +10% $1,210 |
| Rate | -1.0pp $1,087 | -0.5pp $1,061 | base $1,034 | +0.5pp $1,007 | +1.0pp $979 |
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
- $26,375
- Closing costs
- $3,165
- Club membership (one-time)
- —
- Reserves months
- —
- Total cash needed
- —
Loan-product check · same deal, 3 products live
Conventional
25% down · 7.5% · 30yr
- Cash invested
- —
- Monthly P&I
- —
- Monthly cashflow
- —
- DSCR
- —
- Eligible?
- —
Personal DTI + credit; lowest rate.
DSCR
20% down · 8.5% · 30yr
- Cash invested
- —
- Monthly P&I
- —
- Monthly cashflow
- —
- DSCR
- —
- Eligible?
- —
No personal income docs; deal must DSCR.
Hard money
10% down · 12.0% · 12mo
- Cash invested
- —
- Monthly P&I
- —
- Monthly cashflow
- —
- DSCR
- —
- Eligible?
- —
Short-term bridge; refi at stabilization.
Rent comps 11 comps
| Address | Beds | Baths | Sqft | Rent | $/sqft | DOM | Units | Dist |
|---|---|---|---|---|---|---|---|---|
| 351 Vashon Ct NE Renton, WA | 2.0 | 2.0 | 1310 | $2,950 | $2.25 | 40d | 1 | 0.48mi |
| 14204 SE 144th St Renton, WA | 3.0 | 1.5 | 1600 | $3,400 | $2.12 | 26d | 1 | 0.79mi |
| 14051 145th Ave SE Renton, WA | 2.0 | 2.0 | 1548 | $2,950 | $1.91 | 17d | 1 | 0.86mi |
| 14051 145th Ave SE Renton, WA | 3.0 | 2.0 | 1548 | $3,050 | $1.97 | 48d | 1 | 0.86mi |
| 5027 NE 5th Pl Renton, WA | 3.0 | 2.5 | 1287 | $3,300 | $2.56 | 73d | 1 | 0.91mi |
| 650 Duvall Ave NE Renton, WA | 1.0–3.0 | 1.0–3.0 | 1020 | $2,312 | $2.27 | 7d | 13 | 0.92mi |
| 5415 NE 4th St Renton, WA | 2.0 | 2.0 | 1810 | $2,650 | $1.46 | 93d | 1 | 0.96mi |
| 15205 140th Way SE Renton, WA | 1.0–3.0 | 1.0–2.0 | 1121 | $2,754 | $2.46 | 7d | 11 | 0.97mi |
| 2227 SE 8th Pl Renton, WA | 3.0 | 2.0 | 1560 | $3,250 | $2.08 | 18d | 1 | 1.31mi |
| 12920 SE 157th Pl Renton, WA | 3.0 | 2.0 | 1360 | $2,950 | $2.17 | 48d | 1 | 1.31mi |
| 3605 NE 10th Ct Renton, WA | 3.0 | 2.0 | 1330 | $3,090 | $2.32 | 13d | 1 | 1.34mi |
Property features AI
Finance
- Other
- Calculated building area: 1792 (unit source: title)Structure type: Manufactured houseLevels: One
- Financial info
- Cash sale terms
- HOA & community
- Located in Leisure Estates manufactured home parkPark approved for saleSenior communityPark amenities include clubhouse, common area, exercise room, golf, pool, recreational area, security gate, sidewalks, tennis courtsApproximately 254 homes in the parkLand lease payment: $1,422
Exterior
- Security
- Security gate
- Utilities
- Electric energy sourcePublic waterElectric water heater
- Home design
- Manufactured double-wide homeOne levelFacing information not provided
- Construction
- Glen River makeManufactured house (double wide)
- Exterior features
- Corner lotPatio/porch/deckLandscaped
Interior
- Kitchen
- DishwasherMicrowaveRefrigeratorStove/Range
- Bedrooms
- 2 bedrooms
- Bathrooms
- 2 full bathrooms
- Heating & cooling
- Ductless heatingForced air heatingForced air coolingHas heating and cooling
- Interior features
- Water heaterVaulted ceilingsWalk-in closetBath off primary
Listing history 50 events
-
2026-08-08days on market $105,500 Active 1 DOM
-
2026-07-16days on market $105,500 Active 175 DOM
-
2026-07-15days on market $105,500 Active 174 DOM
-
2026-07-14days on market $105,500 Active 173 DOM
-
2026-07-13days on market $105,500 Active 172 DOM
-
2026-07-13days on market $105,500 Active 171 DOM
-
2026-07-11pricedays on market $105,500 Active 170 DOM
-
2026-07-10days on market $109,950 Active 169 DOM
-
2026-07-09days on market $109,950 Active 168 DOM
-
2026-07-07days on market $109,950 Active 166 DOM
-
2026-07-06days on market $109,950 Active 165 DOM
-
2026-07-06days on market $109,950 Active 164 DOM
-
2026-07-05days on market $109,950 Active 163 DOM
-
2026-07-03days on market $109,950 Active 162 DOM
-
2026-07-02days on market $109,950 Active 161 DOM
-
2026-07-01days on market $109,950 Active 160 DOM
-
2026-06-30days on market $109,950 Active 159 DOM
-
2026-06-29days on market $109,950 Active 158 DOM
-
2026-06-28days on market $109,950 Active 157 DOM
-
2026-06-27days on market $109,950 Active 156 DOM
-
2026-06-26days on market $109,950 Active 155 DOM
-
2026-06-24days on market $109,950 Active 153 DOM
-
2026-06-22remarks 699-char remark
-
2026-06-22pricedays on market $109,950 Active 151 DOM
-
2026-06-21days on market $94,950 Active 150 DOM
-
2026-06-18days on market $94,950 Active 147 DOM
-
2026-06-17days on market $94,950 Active 146 DOM
-
2026-06-16days on market $94,950 Active 145 DOM
-
2026-06-15days on market $94,950 Active 144 DOM
-
2026-06-13days on market $94,950 Active 142 DOM
-
2026-06-13days on market $94,950 Active 141 DOM
-
2026-06-09days on market $94,950 Active 138 DOM
-
2026-06-08days on market $94,950 Active 137 DOM
-
2026-06-07days on market $94,950 Active 136 DOM
-
2026-06-04days on market $94,950 Active 133 DOM
-
2026-06-03days on market $94,950 Active 132 DOM
-
2026-06-02days on market $94,950 Active 131 DOM
-
2026-06-01days on market $94,950 Active 130 DOM
-
2026-05-31days on market $94,950 Active 129 DOM
-
2026-04-15price $94,950
-
2026-03-31price $97,900
-
2026-03-16price $99,900
-
2026-03-02price $97,000
-
2026-02-25price $99,000
-
2026-02-24status Active
-
2026-02-17status Pending
-
2026-02-12price $90,000
-
2026-02-02price $95,000
-
2026-01-15$100,000 Active
-
2006-09-21soldstatus $68,500
ⓘ 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
- Wildfire 1/10 Low
- Heat 3/10 Moderate 7 d/yr ≥86°F today · 15 d/yr by 30 yrs out
- Wind 1/10 Low
- Air quality 7/10 Severe 10 unhealthy d/yr today · 11 by 30 yrs out
Nearby sold comps map
Loading sold comps map…
Walkable amenities ~0.75 mi
Loading nearby amenities…
Taxation est. · year 1
- Rental income
- $26,782
- − Mortgage interest
- −$5,910
- − Property taxes
- −$1,582
- − Insurance
- −$528
- − Repairs & maintenance
- −$2,143
- − Management
- −$2,143
- − Depreciation
- −$3,069
- Taxable income
- $11,408
combined federal + state — saved on this device
- Est. tax owed @ 24.0%
- −$2,738
- After-tax cash flow
- $9,671/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 · 12 photos
45/100
Moderate rehab
Est. rehab $44,800–$80,640 screening
This home requires moderate renovations to update its dated interior and exterior, but has a good roof and well-maintained landscaping.
Repairs flagged
- Moderate Kitchen cabinets — Dated and worn
- Moderate Bathroom tile — Dated and worn
- Moderate Carpeted floors — Worn and dated
Value-add opportunities
- Both Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics ↑
- Both Replace kitchen cabinets — Modern cabinets improve functionality and aesthetics ↑
- Both Replace bathroom tile — Modern tile enhances functionality and aesthetics ↑
- Both Replace carpeted floors — Hardwood or tile floors improve functionality and aesthetics ↑
ⓘ Rehab cost is a screening estimate — Moderate scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.
Zoned Schools
Elementary
Maplewood Heights Elementary School
Middle
Mcknight Middle School
High
Hazen Senior High School
Schools (NCES district)
- District
- Renton School District
- NCES district ID
- 5307230
- Math proficiency
- 47% ▼ -1.00%
- Reading proficiency
- 55% ▼ -1.00%
- Median HH income
- $66,354
- Composite
- 47.13/100
- National rank
- #5108
- State rank
- #119 of 291 in WA
A
Composite livability gradescore 83/100
Livability — Renton
- Score
- 83/100
- State rank
- #52
- US rank
- #949
Category grades
Amenities A+
Commute A+
Cost of living F
Crime D-
Employment A+
Housing A
Health & safety A+
User ratings A-
Schools grade is shown separately in the Schools card above.
Census & demographics
- Census place
- Renton, WA
- County
- King County · 2,576,485 people
- City population
- 158,600
- Metro
- Seattle-Tacoma-Bellevue, WA
- Population (ZIP)
- 42,406
- Household income
- $138,654
- Rent vs Own
- Severe rent burden
- 10% of renters
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 0.68)
- Race & ethnicity
- White 48% Asian 29% Two or more races 15% Hispanic / Latino 9% Black 2%
- Hispanic origin (detail)
- Mexican 5%
- Common ancestry
- Portuguese 3% Italian 3% Slovak 2%
- Foreign-born
- 23% · China, Vietnam, Canada
- Languages at home
- 67% English-only · Chinese 9% Vietnamese 6% Spanish 5%
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
- ▼ -920.66%
- Current HPI
- 338.4495
- Rent YoY
- ▲ 0.29%
- 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
+31.9% since first listed3 events — show timeline
- 2026-08-07 Listed $105,500 NWMLS as Distributed by MLS Grid
- 2006-09-21 Sold (MLS) $68,500 NWMLS as Distributed by MLS Grid
- 2006-07-17 Listed $79,990 NWMLS as Distributed by MLS Grid
Cash-flow waterfall
monthlySold comps — $/sqft
last 12 mo · ≤1 miLoading sold comps…