11436 SE 208th St #106 · Kent, WA 98031

$90,000

2 bd · 2.0 ba · 1,152 sqft · Manufactured · 415 Days on market

Manufactured home 55+ age-restricted Built 1981 Good condition $78/sqft · 28% below area Est $124k · 28% under

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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 +22.5/30.0
• ARV discount +15.0/15.0
• 1% rule +7.5/10.0
• DSCR +7.5/10.0
• Schools +4.8/10.0
• Livability +4.0/5.0
• Condition / age +4.0/5.0
• Rent growth +3.4/5.0
• Appreciation +2.5/10.0
• Manufactured-home adj. -5.7

Listing remarks

Fall in love with this beautifully updated 2-bed, 2-bath home in the vibrant 55+ Pantera Lago Estates. Enjoy new luxury vinyl floors, carpet, paint, appliances, roof, windows, and furnace. The kitchen offers ample cabinets, counters, and a built-in table. Relax in open living/dining areas or the cozy family room. Includes laundry room with washer/dryer, covered deck, 2-car parking, and storage shed. Steps away from the clubhouse with pool, spa, sauna, game room, library, dog park, trails, and more. A warm, active community awaits, schedule your tour today!

Key facts

• Built in hutch
• New vinyl windows
• Large kitchen

Tags

• UPDATED HOME
• NEW LVP FLOORING
• NEW VINYL WINDOWS
• LARGE KITCHEN
• OPEN LIVING ROOM DINING ROOM
• BUILT IN HUTCH

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $90k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $675 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $90k).
• Recommended offer: $79k (12.0% below list) — sets the bar for market timing.
• Cap rate 15.3% vs local median 2.7% in Kent — 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 79/100 on livability (#109 in WA, #2,154 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, housing A+; Watch: crime F, cost of living F.
• Kent School District (urban): math 47% / reading 57% proficiency, ranked #109 of 291 in WA (top 38%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Glenridge Elementary (446 students, 58% FRL); Meeker Middle School (603 students, 74% FRL); Kentridge High School (2,034 students, 42% FRL) — zoned schools average 58% FRL vs 41% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+3.5%/yr); 238 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals lingering (median 60d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 75% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 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 $622 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 + 3.5% rent growth), your $25k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 415 days — a 12% lower offer ($79k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 23y ago; this cycle's ask has dropped $50k (35%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $14k; list at $90k implies a 543% gain — meaningful room to come down on a strong offer.

Recommended offer $79,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 415 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. 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?
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: 1.82% ✓
• Cap rate: 15.29%
• Cash-on-cash: 32.12%
• DSCR: 2.43
• GRM: 4.6

CMA / ARV

• ARV (median comp): $124,296
• List price: $90,000
• Delta: -27.59%
• Verdict: UNDERPRICED
• Comps: 9 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
11436 SE 208th St #136	0.09mi	2/2.0	1,152 (0%)	1mo	$65,000	$56	95
11436 SE 208th St #170	0.06mi	2/2.0	1,250 (+8%)	23mo	$130,000	$104	64
20744 113th Pl SE	0.15mi	2/2.0	1,250 (+8%)	24mo	$105,000	$84	59
21914 106th Pl SE #36	0.97mi	2/2.0	1,152 (0%)	11mo	$145,000	$126	56
12212 SE 206th St	0.57mi	3/2.0 (+1)	1,080 (-6%)	9mo	$300,000	$278	51
22049 106th Pl SE #71	1.04mi	2/1.0	1,200 (+4%)	17mo	$126,000	$105	40
21823 107TH Ave SE #32	0.89mi	2/2.0	1,248 (+8%)	17mo	$130,000	$104	37
22023 107th Ave SE #88	1.01mi	2/1.5	1,034 (-10%)	19mo	$99,000	$96	30

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 · 3.53% rent growth · sell at horizon

5-year hold

• IRR: 27.7%
• Equity multiple: 2.16×
• Total profit: $29,283
• Equity at exit: $13,419

10-year hold

• IRR: 35.6%
• Equity multiple: 4.36×
• Total profit: $84,571
• Equity at exit: $7,782

Cash invested: $25,200 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 7 active · 3 under contract
• Months of supply: 14.0 mo (7%/mo absorbed)
• Median asking: $115,000 ($86/sqft)
• Median days on market: 140 d
• This list price: 14% of active listings are priced below it
• ARV vs active asking: +26.1% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 98031

• Rents YoY: 3.5%
• Active inventory: 238
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $1,641 high
• Mortgage (P&I): −$472
• Tax est. 1.5%: −$112 /mo · $1,350/yr
• Insurance: −$38
• HOA: −$0
• Lot rent leased land?: −$0
• Vacancy / Maint / Mgmt: −$345
• Net cashflow: $675

Break-even live

Break-even rent $787

Max offer price $90,000

Occupancy floor 54%

Sensitivity live

Price	-10% $737	-5% $706	+0% $675	+5% $643	+10% $612
Rent	-10% $545	-5% $610	+0% $675	+5% $739	+10% $804
Rate	-1.0pp $720	-0.5pp $697	base $675	+0.5pp $651	+1.0pp $628

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: $22,500
• Closing costs: $2,700
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
20803 110th Ln SE Kent, WA	2.0	2.5	1361	$2,845	$2.09	93d	1	0.27mi
20805 109th Ln SE Kent, WA	2.0	1.5	1250	$2,700	$2.16	93d	1	0.29mi
10836 SE 204th St Kent, WA	1.0	1.0	850	$1,795	$2.11	73d	1	0.30mi
11101 SE 208th St Kent, WA	1.0–3.0	1.0–2.0	971	$2,104	$2.17	11d	19	0.35mi
10820 SE 211th Pl Kent, WA	1.0–2.0	1.0	715	$1,945	$2.72	9d	14	0.35mi
10833 SE 200th St Kent, WA	2.0	1.0	844	$1,600	$1.90	51d	1	0.39mi
10833 SE 200th St Unit A2 Kent, WA	2.0	1.0	844	$1,600	$1.90	9d	1	0.41mi
12012 SE 210th St Kent, WA	3.0	1.5	1230	$1,820	$1.48	73d	1	0.51mi
20506 103rd Ave SE Kent, WA	3.0	1.0	1180	$2,295	$1.94	73d	1	0.63mi
21822 107th Pl SE #6 Kent, WA	3.0	1.5	1152	$1,525	$1.32	71d	1	0.88mi
19002 108th Ave SE Unit 2 Renton, WA	2.0	1.0	800	$1,595	$1.99	60d	1	1.00mi
19002 108th Ave SE Renton, WA	2.0	1.0	800	$1,595	$1.99	52d	1	1.00mi
19002 108th Ave SE Unit 2 Renton, WA	2.0	1.0	800	$1,595	$1.99	60d	1	1.00mi
21232 127th Pl SE Kent, WA	3.0	1.5	1100	$1,550	$1.41	34d	1	1.01mi
21627 127th Pl SE Kent, WA	3.0	2.0	1420	$3,095	$2.18	66d	1	1.13mi
10716 SE 224th Pl Kent, WA	3.0	2.0	1200	$2,900	$2.42	36d	1	1.22mi
9333 S 200th St Kent, WA	3.0	1.0	1060	$2,450	$2.31	53d	1	1.25mi
22415 Benson Rd SE Kent, WA	1.0–2.0	1.0	706	$1,615	$2.29	9d	6	1.27mi
11211 SE 226th St Kent, WA	3.0	2.0	1012	$2,250	$2.22	67d	1	1.30mi
5301 Talbot Rd S Renton, WA	2.0–3.0	1.0–2.0	1097	$2,221	$2.02	7d	6	1.49mi

Listing history 31 events

1. 2026-06-30
   days on market $90,000 Active 415 DOM
2. 2026-06-29
   days on market $90,000 Active 414 DOM
3. 2026-06-28
   days on market $90,000 Active 413 DOM
4. 2026-06-27
   days on market $90,000 Active 412 DOM
5. 2026-06-26
   days on market $90,000 Active 411 DOM
6. 2026-06-24
   days on market $90,000 Active 409 DOM
7. 2026-06-22
   days on market $90,000 Active 407 DOM
8. 2026-06-21
   days on market $90,000 Active 406 DOM
9. 2026-06-18
   days on market $90,000 Active 403 DOM
10. 2026-06-17
    days on market $90,000 Active 402 DOM
11. 2026-06-16
    days on market $90,000 Active 401 DOM
12. 2026-06-15
    days on market $90,000 Active 400 DOM
13. 2026-06-13
    days on market $90,000 Active 398 DOM
14. 2026-06-09
    days on market $90,000 Active 394 DOM
15. 2026-06-08
    days on market $90,000 Active 393 DOM
16. 2026-06-07
    days on market $90,000 Active 392 DOM
17. 2026-06-04
    days on market $90,000 Active 389 DOM
18. 2026-06-03
    days on market $90,000 Active 388 DOM
19. 2026-06-02
    days on market $90,000 Active 387 DOM
20. 2026-06-01
    days on market $90,000 Active 386 DOM
21. 2026-05-31
    days on market $90,000 Active 385 DOM
22. 2026-03-24
    status Active
23. 2025-11-14
    price $104,995
24. 2025-09-29
    status Active
25. 2025-06-19
    price $124,500
26. 2025-03-10
    listed $139,500 Active
27. 2010-03-15
    soldstatus $14,000 Sold
28. 2010-02-06
    status Pending
29. 2010-01-31
    listed $19,900 Active
30. 2003-08-29
    soldstatus $26,000
31. 2003-08-19
    listed $27,999

ⓘ 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 ≥87°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 8/10 Severe 12 unhealthy d/yr today · 12 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,694
• − Mortgage interest: −$5,041
• − Property taxes: −$1,350
• − Insurance: −$450
• − Repairs & maintenance: −$1,576
• − Management: −$1,576
• − Depreciation: −$2,618
• Taxable income: $7,083
• Est. tax owed @ 24.0%: −$1,700
• After-tax cash flow: $6,395/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 · 9 photos

Good 80/100 Cosmetic rehab Est. rehab $5,760–$17,280 screening

This beautifully updated 2-bedroom, 2-bath manufactured home in Pantera Lago Estates features new flooring, paint, appliances, and a fresh exterior, making it move-in ready and ideal for both resale and rental.

Value-add opportunities

• Both landscaping — enhances curb appeal and adds value ↑
• Both paint — fresh paint improves aesthetics and value ↑
• Both furniture — new furniture enhances living spaces and appeal ↑

ⓘ Rehab cost is a screening estimate — Cosmetic 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 Glenridge Elementary Middle Meeker Middle School High Kentridge High School

Schools (NCES district)

• District: Kent School District
• NCES district ID: 5303960
• Math proficiency: 47% ▼ -1.00%
• Reading proficiency: 57% ▼ -1.00%
• Median HH income: $69,823
• Composite: 48.25/100
• National rank: #4714
• State rank: #109 of 291 in WA

B Composite livability gradescore 79/100

Livability — Kent

• Score: 79/100
• State rank: #109
• US rank: #2154

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Kent, WA
• County: King County · 2,576,485 people
• City population: 119,479
• Metro: Seattle-Tacoma-Bellevue, WA
• Population (ZIP): 40,094
• Household income: $105,965
• Rent vs Own: 32.8% rent · 67.2% own
• Severe rent burden: 12% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.77)
• Race & ethnicity: White 36% Asian 27% Black 13% Hispanic / Latino 13% Two or more races 13% Pacific Islander 1%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Italian 5% Portuguese 2% Subsaharan African 2%
• Foreign-born: 31% · Canada, Vietnam, China
• Languages at home: 58% English-only · Spanish 9% Other Indo-European 7% Vietnamese 4%

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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: ▼ -673.58%
• Current HPI: 308.1747
• Rent YoY: ▲ 3.53%
• Metro: Seattle-Tacoma-Bellevue, WA
• State GDP YoY: ▲ 4.65%
• F500 in state: 22

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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

+275.0% since first listed

10 events — show timeline

• 2026-03-24 Relisted — NWMLS as Distributed by MLS Grid
• 2025-11-14 Price Changed $104,995 NWMLS as Distributed by MLS Grid
• 2025-09-29 Relisted — NWMLS as Distributed by MLS Grid
• 2025-06-19 Price Changed $124,500 NWMLS as Distributed by MLS Grid
• 2025-03-10 Listed $139,500 NWMLS as Distributed by MLS Grid
• 2010-03-15 Sold (MLS) $14,000 NWMLS as Distributed by MLS Grid
• 2010-02-06 Pending — NWMLS as Distributed by MLS Grid
• 2010-01-31 Listed $19,900 NWMLS as Distributed by MLS Grid
• 2003-08-29 Sold (MLS) $26,000 NWMLS as Distributed by MLS Grid
• 2003-08-19 Listed $27,999 NWMLS as Distributed by MLS Grid