920 Cottonwood Dr · Enumclaw, WA 98022

$99,999

3 bd · 2.0 ba · 1,440 sqft · Manufactured · 10 Days on market

Built 1975 Est $158k · 37% under

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Why this score? — see what drove the A- 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 +5.5/10.0
• Livability +4.4/5.0
• Rent growth +3.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Beautifully maintained home in a desirable 55+ community of Mountain Villa! Move-in ready with new carpet, newer luxury vinyl plank flooring, and recently painted bedroom walls. Spacious layout - 3 bedrooms and 2 bathrooms -one with a walk in shower and the other a walk in tub. The kitchen includes a newer refrigerator, and the newer washer is also included. Year-round comfort with a heat pump. Outside, you'll find a beautifully landscaped yard, large storage shed, covered patio for outdoor entertaining, and two covered carports providing ample parking. Located in a well-maintained senior community featuring a new dog park, pool room, andcommunity common areas. Conveniently located near sho

Key facts

• Two covered carports
• Pool room
• Covered patio

Tags

• LANDSCAPED YARD
• LARGE STORAGE SHED
• COVERED PATIO
• TWO COVERED CARPORTS
• NEW DOG PARK
• POOL ROOM

Property features AI

Finance

• Other: 186 homes in the park
• Financial info: Land lease amount: $1,386; Listing terms: Cash
• HOA & community: Located in Mountain Villa park (senior community); Park amenities include BBQs, clubhouse, common area, exercise room, high-speed internet availability, laundry, recreational area

Exterior

• Parking: Carport; RV parking available in park
• Utilities: Electric energy source; Public water; Public sewer; PSE electric service
• Home design: Manufactured double wide; One level; Style: Manuf-Double Wide; Mobile home remains
• Construction: Metal/Vinyl construction materials; Composition roof; Metal and vinyl skirting; Make: Hill, Model: 64/24
• Exterior features: Metal/vinyl exterior; Paved lot

Interior

• Kitchen: Dishwasher; Garbage disposal; Microwave; Refrigerator; Stove/Range
• Bedrooms: 3 bedrooms
• Flooring: Vinyl plank; Carpet
• Bathrooms: 1 full bath; 1 three-quarter bath
• Heating & cooling: Heat pump for heating; Heat pump for cooling
• Interior features: Dining room; Entry; Kitchen with eating space; Living room; Utility room; Drapes; Walk-in closet; Patio/porch/deck; Landscaped; Awnings; Bath off primary
• Laundry & utility: Washer; Dryer; On-site storage

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $100k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Cap rate 21.7% 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.
• Zoned schools: Southwood Elementary School (345 students, 38% FRL); Enumclaw Middle School (509 students, 38% FRL); Enumclaw Sr High School (1,339 students, 28% FRL).
• Market conditions: Rents rising fast (+4.3%/yr); 227 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals leasing fast (median 12d 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 $691 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 $28k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 4y 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 $65k; list at $100k implies a 54% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $99,999

Questions for the listing agent

1. Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 2.50% ✓
• Cap rate: 21.67%
• Cash-on-cash: 54.91%
• DSCR: 3.44
• GRM: 3.3

CMA / ARV

• ARV (on-the-fly): $158,400
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1207 Maple Dr	0.19mi	3/2.0	1,456 (+1%)	6mo	$160,000	$110	84
936 Mountain Villa Dr	0.06mi	2/2.0 (-1)	1,512 (+5%)	1mo	$222,000	$147	83
821 Pine Dr	0.04mi	2/2.0 (-1)	1,583 (+10%)	13mo	$125,000	$79	66
1144 Douglas Fir	0.33mi	3/2.0	1,344 (-7%)	11mo	$180,000	$134	65
926 Pine Dr	0.04mi	2/2.0 (-1)	1,248 (-13%)	9mo	$119,500	$96	63
209 Noble Fir Cir #60	0.49mi	3/2.0	1,344 (-7%)	3mo	$150,000	$112	63
1106 Mountian Villa Loop	0.12mi	2/2.0 (-1)	1,248 (-13%)	10mo	$90,000	$72	59
207 Noble Fir Cir	0.50mi	2/2.0 (-1)	1,344 (-7%)	3mo	$140,000	$104	58
252 Grand Fir Dr #25	0.48mi	3/2.0	1,352 (-6%)	12mo	$185,000	$137	58
2200 Oak Ave #49	0.55mi	2/2.0 (-1)	1,536 (+7%)	8mo	$135,000	$88	51
400 Grand Fir Dr #94	0.41mi	4/2.0 (+1)	1,620 (+12%)	11mo	$210,000	$130	45
206 Noble Fir Cir	0.52mi	2/2.0 (-1)	1,248 (-13%)	11mo	$70,000	$56	39

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: 54.7%
• Equity multiple: 3.46×
• Total profit: $68,799
• Equity at exit: $14,910

10-year hold

• IRR: 60.3%
• Equity multiple: 7.40×
• Total profit: $179,305
• Equity at exit: $8,646

Cash invested: $28,000 (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: 227
• Price-to-rent: 3.3×

Monthly cashflow live

• Estimated rent: $2,497 high
• Mortgage (P&I): −$524
• Tax est. 1.5%: −$125 /mo · $1,500/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$524
• Net cashflow: $1,281

Break-even live

Break-even rent $875

Max offer price $99,999

Occupancy floor 44%

Sensitivity live

Price	-10% $1,350	-5% $1,316	+0% $1,281	+5% $1,247	+10% $1,212
Rent	-10% $1,084	-5% $1,183	+0% $1,281	+5% $1,380	+10% $1,479
Rate	-1.0pp $1,332	-0.5pp $1,307	base $1,281	+0.5pp $1,255	+1.0pp $1,229

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
847 Blake St Enumclaw, WA	3.0	1.0	1064	$2,000	$1.88	0d	1	0.21mi
124 Jewell St Enumclaw, WA	3.0	1.5	1540	$3,200	$2.08	45d	1	0.41mi
615 Watson St N Unit 617B Enumclaw, WA	2.0	1.0	960	$1,999	$2.08	0d	1	0.44mi
312 Charwila Ln Enumclaw, WA	2.0	1.0	894	$1,750	$1.96	14d	1	0.72mi
250 Charwila Ln Enumclaw, WA	2.0	1.0	894	$1,750	$1.96	4d	1	0.73mi
556 Bondgard Ave E Enumclaw, WA	3.0	2.0	1480	$2,995	$2.02	11d	1	0.74mi
1571 Kibler Ave Enumclaw, WA	3.0	2.0	1200	$2,600	$2.17	16d	1	0.93mi
1571 Kibler Ave Enumclaw, WA	3.0	2.0	1200	$2,600	$2.17	22d	1	0.93mi
320 Chinook Ave Enumclaw, WA	2.0–3.0	1.0–2.0	923	$2,297	$2.49	0d	7	0.98mi

Listing history 7 events

1. 2026-06-21
   days on market $99,999 Active 10 DOM
2. 2026-06-18
   days on market $99,999 Active 7 DOM
3. 2026-06-17
   days on market $99,999 Active 6 DOM
4. 2026-06-16
   days on market $99,999 Active 5 DOM
5. 2026-06-15
   days on market $99,999 Active 4 DOM
6. 2026-06-13
   remarks 699-char remark
7. 2026-06-13
   listed $99,999 Active 2 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 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: $29,960
• − Mortgage interest: −$5,601
• − Property taxes: −$1,500
• − Insurance: −$500
• − Repairs & maintenance: −$2,397
• − Management: −$2,397
• − Depreciation: −$2,909
• Taxable income: $14,656
• Est. tax owed @ 24.0%: −$3,517
• After-tax cash flow: $11,858/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

+25.0% since first listed

5 events — show timeline

• 2026-06-11 Listed $99,999 NWMLS as Distributed by MLS Grid
• 2022-10-21 Sold (MLS) $65,000 NWMLS as Distributed by MLS Grid
• 2022-10-03 Pending — NWMLS as Distributed by MLS Grid
• 2022-09-27 Price Changed $70,000 NWMLS as Distributed by MLS Grid
• 2022-09-19 Listed $80,000 NWMLS as Distributed by MLS Grid