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

$79,000

2 bd · 2.0 ba · 1,152 sqft · Manufactured

Manufactured home Built 1981 Good condition $69/sqft · 37% below area Est $124k · 37% 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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. -6.7

Listing remarks

Welcome to Pantera Lago Estates, where comfort, convenience, and community come together. This inviting 2-bedroom, 2-bath home feels bright and spacious with high ceilings and expansive windows that bring in an abundance of natural light. The generous kitchen offers plenty of cabinetry and counter space, along with a built-in table for casual dining. Open living and dining areas create an easy flow, while a separate family room provides additional space to relax or entertain. Enjoy covered parking for two and additional storage.

Key facts

• Generous kitchen
• Expansive windows
• Built-in table

Tags

• HIGH CEILINGS
• EXPANSIVE WINDOWS
• GENEROUS KITCHEN
• BUILT-IN TABLE
• OPEN LIVING AND DINING AREAS
• SEPARATE FAMILY ROOM

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $79k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $757 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $79k).
• Cap rate 17.8% vs local median 2.6% 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); 296 active listings in the ZIP; 29 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 59% 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 $546 of loan paydown is wiped out by about $2k 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 $22k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 23y 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 $14k; list at $79k implies a 464% gain — meaningful room to come down on a strong offer.

Recommended offer $79,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 2.09% ✓
• Cap rate: 17.80%
• Cash-on-cash: 41.09%
• DSCR: 2.83
• GRM: 4.0

CMA / ARV

• ARV (median comp): $124,426
• List price: $79,000
• Delta: -36.51%
• Verdict: UNDERPRICED
• Comps: 9 within 1.0 mi

Show comp detail 6 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%)	3mo	$65,000	$56	94
21914 106th Pl SE #36	0.97mi	2/2.0	1,152 (0%)	12mo	$145,000	$126	55
12212 SE 206th St	0.57mi	3/2.0 (+1)	1,080 (-6%)	11mo	$300,000	$278	49
22049 106th Pl SE #71	1.04mi	2/1.0	1,200 (+4%)	19mo	$126,000	$105	39
21823 107TH Ave SE #32	0.89mi	2/2.0	1,248 (+8%)	19mo	$130,000	$104	35
22023 107th Ave SE #88	1.01mi	2/1.5	1,034 (-10%)	20mo	$99,000	$96	29

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: 38.2%
• Equity multiple: 2.64×
• Total profit: $36,350
• Equity at exit: $11,779

10-year hold

• IRR: 45.0%
• Equity multiple: 5.41×
• Total profit: $97,541
• Equity at exit: $6,830

Cash invested: $22,120 (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: 11 active · 3 under contract
• Months of supply: 22.0 mo (5%/mo absorbed)
• Median asking: $115,000 ($86/sqft)
• Median days on market: 172 d
• This list price: 9% of active listings are priced below it
• ARV vs active asking: +26.2% 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: 296
• Price-to-rent: 4.0×

Monthly cashflow live

• Estimated rent: $1,650 high
• Mortgage (P&I): −$414
• Tax est. 1.5%: −$99 /mo · $1,185/yr
• Insurance: −$33
• HOA: −$0
• Lot rent leased land?: −$0
• Vacancy / Maint / Mgmt: −$346
• Net cashflow: $757

Break-even live

Break-even rent $691

Max offer price $79,000

Occupancy floor 49%

Sensitivity live

Price	-10% $812	-5% $785	+0% $757	+5% $730	+10% $703
Rent	-10% $627	-5% $692	+0% $757	+5% $823	+10% $888
Rate	-1.0pp $797	-0.5pp $778	base $757	+0.5pp $737	+1.0pp $716

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: $19,750
• Closing costs: $2,370
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 29 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11331 SE 209th Ln #24 Kent, WA	2.0	1.5	1228	$2,000	$1.63	18d	1	0.24mi
20803 110th Ln SE Kent, WA	2.0	2.5	1361	$2,845	$2.09	139d	1	0.27mi
20805 109th Ln SE Kent, WA	2.0	1.5	1250	$2,700	$2.16	139d	1	0.29mi
10836 SE 204th St Kent, WA	1.0	1.0	850	$1,795	$2.11	120d	1	0.30mi
10836 SE 204th St Kent, WA	1.0	1.0	850	$1,795	$2.11	43d	1	0.30mi
10925 SE 208th St #20845 Kent, WA	3.0	1.5	1290	$2,699	$2.09	18d	1	0.31mi
11101 SE 208th St Kent, WA	1.0–3.0	1.0–2.0	921	$1,912	$2.08	0d	14	0.35mi
10820 SE 211th Pl Kent, WA	1.0–2.0	1.0	715	$1,945	$2.72	3d	20	0.35mi
10833 SE 200th St Kent, WA	2.0	1.0	844	$1,600	$1.90	97d	1	0.39mi
10825 SE 200th St Unit B203 Kent, WA	2.0	2.0	1024	$2,100	$2.05	40d	1	0.40mi
10833 SE 200th St Unit A2 Kent, WA	2.0	1.0	844	$1,600	$1.90	4d	1	0.41mi
12012 SE 210th St Kent, WA	3.0	1.5	1230	$1,820	$1.48	120d	1	0.51mi
20506 103rd Ave SE Kent, WA	3.0	1.0	1180	$2,295	$1.94	119d	1	0.63mi
12111 SE 198th Pl Kent, WA	2.0	1.0	1200	$2,000	$1.67	18d	1	0.65mi
21500 121st Pl SE Unit 21500 Kent, WA	2.0	1.0	1000	$1,750	$1.75	9d	1	0.79mi
21822 107th Pl SE #6 Kent, WA	3.0	1.5	1152	$1,525	$1.32	117d	1	0.88mi
19002 108th Ave SE Unit 2 Renton, WA	2.0	1.0	800	$1,595	$1.99	106d	1	1.00mi
19002 108th Ave SE Renton, WA	2.0	1.0	800	$1,495	$1.87	10d	1	1.00mi
19002 108th Ave SE Unit 2 Renton, WA	2.0	1.0	800	$1,595	$1.99	107d	1	1.00mi
21232 127th Pl SE Kent, WA	3.0	1.5	1100	$1,550	$1.41	80d	1	1.01mi
9821 S 212th St Kent, WA	3.0	1.5	1310	$2,695	$2.06	7d	1	1.03mi
21438 99th Ave S Kent, WA	2.0	1.0	1500	$2,500	$1.67	43d	1	1.05mi
21627 127th Pl SE Kent, WA	3.0	2.0	1420	$3,095	$2.18	112d	1	1.13mi
10716 SE 224th Pl Kent, WA	3.0	2.0	1200	$2,900	$2.42	82d	1	1.22mi
9333 S 200th St Kent, WA	3.0	1.0	1060	$2,450	$2.31	100d	1	1.25mi
22415 Benson Rd SE Kent, WA	1.0–2.0	1.0	705	$1,615	$2.29	0d	3	1.27mi
11211 SE 226th St Kent, WA	3.0	2.0	1012	$2,250	$2.22	113d	1	1.30mi
10815 SE 184th Ln Renton, WA	1.0–2.0	1.0–1.5	835	$2,444	$2.93	0d	2	1.35mi
5301 Talbot Rd S Renton, WA	1.0–2.0	1.0–2.0	1024	$2,878	$2.81	0d	6	1.49mi

Property features AI

Finance

• Financial info: Land lease: $1,450Listing terms: Cash, Conventional
• HOA & community: Park approved for salePantera Lago Estates with about 166 homesSenior communityPets allowed (cats and dogs)Park amenities: BBQs, clubhouse, common area, high-speed internet availability, pool, recreational area, RV parking, sauna, sidewalks, spa/hot tub, trails

Exterior

• Parking: Carport
• Utilities: Electric energy sourceElectric water heaterCommunity waterCommunity sewerPower provided by PSECable available (Comcast)
• Home design: Manufactured double-wide homeOne levelSouth-facing
• Construction: Metal/vinyl constructionVinyl skirtingComposition roofConcrete ribbon foundationManufactured 48/24 Goldenwest model
• Exterior features: Corner lotPatio/porch/deckLandscapedAwningsUnder-carport storageSpa/Hot Tub (community)Pool (community)

Interior

• Kitchen: DishwasherStove/Range
• Bedrooms: 2 bedrooms
• Flooring: Vinyl plankCarpet
• Bathrooms: 2 full bathrooms (2 tubs, 2 showers)
• Heating & cooling: Forced air heatingForced air cooling
• Interior features: Water heaterVaulted ceilingsBath off primaryDining roomFamily roomKitchen with eating space
• Laundry & utility: WasherDryerWater heater located in laundry

Listing history 50 events

1. 2026-09-21
   days on market $79,000 Active
2. 2026-09-20
   days on market $79,000 Active 40 DOM
3. 2026-09-19
   days on market $79,000 Active 39 DOM
4. 2026-09-18
   days on market $79,000 Active 38 DOM
5. 2026-09-17
   days on market $79,000 Active 37 DOM
6. 2026-09-16
   days on market $79,000 Active 36 DOM
7. 2026-09-15
   days on market $79,000 Active 35 DOM
8. 2026-09-14
   days on market $79,000 Active 34 DOM
9. 2026-09-13
   days on market $79,000 Active 33 DOM
10. 2026-09-12
    days on market $79,000 Active 32 DOM
11. 2026-09-11
    days on market $79,000 Active 31 DOM
12. 2026-09-05
    days on market $79,000 Active 25 DOM
13. 2026-09-04
    days on market $79,000 Active 24 DOM
14. 2026-09-03
    days on market $79,000 Active 23 DOM
15. 2026-08-31
    days on market $79,000 Active 20 DOM
16. 2026-08-29
    days on market $79,000 Active 18 DOM
17. 2026-08-28
    days on market $79,000 Active 17 DOM
18. 2026-08-27
    days on market $79,000 Active 16 DOM
19. 2026-08-25
    days on market $79,000 Active 14 DOM
20. 2026-08-24
    days on market $79,000 Active 13 DOM
21. 2026-08-23
    days on market $79,000 Active 12 DOM
22. 2026-08-22
    days on market $79,000 Active 11 DOM
23. 2026-08-21
    days on market $79,000 Active 10 DOM
24. 2026-08-20
    days on market $79,000 Active 9 DOM
25. 2026-08-19
    days on market $79,000 Active 8 DOM
26. 2026-08-18
    days on market $79,000 Active 7 DOM
27. 2026-08-17
    days on market $79,000 Active 6 DOM
28. 2026-08-16
    days on market $79,000 Active 5 DOM
29. 2026-08-15
    days on market $79,000 Active 4 DOM
30. 2026-08-14
    days on market $79,000 Active 3 DOM
31. 2026-08-13
    days on market $79,000 Active 2 DOM
32. 2026-08-12
    remarks 699-char remark
33. 2026-08-12
    pricedays on marketlisting id $79,000 Active 1 DOM
34. 2026-06-30
    days on market $90,000 Active 415 DOM
35. 2026-06-29
    days on market $90,000 Active 414 DOM
36. 2026-06-28
    days on market $90,000 Active 413 DOM
37. 2026-06-27
    days on market $90,000 Active 412 DOM
38. 2026-06-26
    days on market $90,000 Active 411 DOM
39. 2026-06-24
    days on market $90,000 Active 409 DOM
40. 2026-06-22
    days on market $90,000 Active 407 DOM
41. 2026-06-21
    days on market $90,000 Active 406 DOM
42. 2026-06-18
    days on market $90,000 Active 403 DOM
43. 2026-06-17
    days on market $90,000 Active 402 DOM
44. 2026-06-16
    days on market $90,000 Active 401 DOM
45. 2026-06-15
    days on market $90,000 Active 400 DOM
46. 2026-06-13
    days on market $90,000 Active 398 DOM
47. 2026-06-09
    days on market $90,000 Active 394 DOM
48. 2026-06-08
    days on market $90,000 Active 393 DOM
49. 2026-06-07
    days on market $90,000 Active 392 DOM
50. 2026-06-04
    days on market $90,000 Active 389 DOM

ⓘ 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: $19,798
• − Mortgage interest: −$4,425
• − Property taxes: −$1,185
• − Insurance: −$395
• − Repairs & maintenance: −$1,584
• − Management: −$1,584
• − Depreciation: −$2,298
• Taxable income: $8,327
• Est. tax owed @ 24.0%: −$1,999
• After-tax cash flow: $7,091/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

Property features AI

Finance

• Financial info: Land lease: $1,450Listing terms: Cash, Conventional
• HOA & community: Park approved for salePantera Lago Estates with about 166 homesSenior communityPets allowed (cats and dogs)Park amenities: BBQs, clubhouse, common area, high-speed internet availability, pool, recreational area, RV parking, sauna, sidewalks, spa/hot tub, trails

Exterior

• Parking: Carport
• Utilities: Electric energy sourceElectric water heaterCommunity waterCommunity sewerPower provided by PSECable available (Comcast)
• Home design: Manufactured double-wide homeOne levelSouth-facing
• Construction: Metal/vinyl constructionVinyl skirtingComposition roofConcrete ribbon foundationManufactured 48/24 Goldenwest model
• Exterior features: Corner lotPatio/porch/deckLandscapedAwningsUnder-carport storageSpa/Hot Tub (community)Pool (community)

Interior

• Kitchen: DishwasherStove/Range
• Bedrooms: 2 bedrooms
• Flooring: Vinyl plankCarpet
• Bathrooms: 2 full bathrooms (2 tubs, 2 showers)
• Heating & cooling: Forced air heatingForced air cooling
• Interior features: Water heaterVaulted ceilingsBath off primaryDining roomFamily roomKitchen with eating space
• Laundry & utility: WasherDryerWater heater located in laundry

Price history

+182.2% since first listed

6 events — show timeline

• 2026-08-11 Listed $79,000 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