7301 NE 175th St #115 · Kenmore, WA 98028

$164,950

3 bd · 2.0 ba · 1,248 sqft · Manufactured

Manufactured home Built 2025 Good condition $132/sqft · 30% below area Est $235k · 30% 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 +27.0/30.0
• ARV discount +15.0/15.0
• DSCR +9.4/10.0
• 1% rule +7.3/10.0
• Schools +6.7/10.0
• Livability +4.3/5.0
• Condition / age +4.0/5.0
• Rent growth +3.0/5.0
• Appreciation +2.5/10.0
• Manufactured-home adj. -6.3

Listing remarks

NEW HOME! Fully landscaped with a beautiful windmill palm tree, black and white decorative gravel, large accent rocks, and venetian red stepping stones. Laminate floors throughout resemble dark walnut and provide incredible contrast with the white walls and ceiling. The alder cabinets in the kitchen look perfect with the new counter tops. The kitchen island adds an abundance of counter space and the hanging lights add a level of modernity to the home. The house comes with brand new appliances and fixtures throughout including a washer, dryer, microwave, large farm sink, garbage disposal, dish washer, and refrigerator.

Key facts

• 2 parking spots
• Built 2025

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $165k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $464 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $165k).
• Cap rate 9.7% 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.
• Zoned schools: Kenmore Elementary (424 students, 44% FRL); Kenmore Middle School (718 students, 25% FRL); Inglemoor Hs (1,542 students, 20% FRL) — zoned schools average 30% FRL vs 12% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+2.1%/yr); 357 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 11d 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).
• This rent is only 17% of the median local income ($140k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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.

Negotiation context

• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $164,950

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. 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?
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: 1.23% ✓
• Cap rate: 9.67%
• Cash-on-cash: 12.06%
• DSCR: 1.54
• GRM: 6.8

CMA / ARV

• ARV (median comp): $235,000
• List price: $164,950
• Delta: -29.81%
• Verdict: UNDERPRICED
• Comps: 5 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7031 NE 175th St #20	0.19mi	3/2.0	1,248 (0%)	14mo	$155,000	$124	79
7301 NE 175th St St #335	0.05mi	2/2.0 (-1)	1,200 (-4%)	10mo	$258,000	$215	78
7301 NE 175th St #140	0.02mi	2/2.0 (-1)	1,180 (-5%)	14mo	$275,000	$233	73
7031 NE 175th St #53	0.13mi	2/2.0 (-1)	1,080 (-14%)	4mo	$243,000	$225	63
7301 NE 175th St #330	0.05mi	2/1.0 (-1)	1,100 (-12%)	23mo	$50,000	$45	50
7031 NE 175th St #34	0.19mi	2/2.0 (-1)	1,400 (+12%)	24mo	$215,000	$154	46

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: 0.6%
• Equity multiple: 1.02×
• Total profit: $1,034
• Equity at exit: $24,595

10-year hold

• IRR: 9.3%
• Equity multiple: 1.69×
• Total profit: $31,683
• Equity at exit: $14,262

Cash invested: $46,186 (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: 6 active · 1 under contract
• Months of supply: 36.0 mo (3%/mo absorbed)
• Median asking: $99,999 ($98/sqft)
• This list price: 100% of active listings are priced below it
• ARV vs active asking: +92.5% above current asking $/sqft

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

ZIP-level market 98028

• Rents YoY: 2.1%
• Active inventory: 357
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $2,031 high
• Mortgage (P&I): −$865
• Tax est. 1.5%: −$206 /mo · $2,474/yr
• Insurance: −$69
• HOA: −$0
• Lot rent leased land?: −$0
• Vacancy / Maint / Mgmt: −$426
• Net cashflow: $464

Break-even live

Break-even rent $1,443

Max offer price $164,950

Occupancy floor 72%

Sensitivity live

Price	-10% $578	-5% $521	+0% $464	+5% $407	+10% $350
Rent	-10% $304	-5% $384	+0% $464	+5% $545	+10% $625
Rate	-1.0pp $547	-0.5pp $506	base $464	+0.5pp $422	+1.0pp $378

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: $41,238
• Closing costs: $4,948
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7200 NE 171st Ln Kenmore, WA	2.0	1.5	1050	$2,600	$2.48	24d	1	0.13mi
7200 NE 171st Ln Kenmore, WA	2.0	1.5	1050	$2,490	$2.37	3d	1	0.13mi
18200 73rd Ave NE Unit B203 Kenmore, WA	2.0	2.0	857	$1,990	$2.32	121d	1	0.39mi
18200 73rd Ave NE Kenmore, WA	2.0	2.0	868	$2,000	$2.30	69d	1	0.39mi
18200 73rd Ave NE Kenmore, WA	1.0–2.0	1.0–2.0	735	$2,000	$2.72	28d	2	0.39mi
7214 NE 182nd St Kenmore, WA	2.0	2.5	1418	$2,650	$1.87	1d	1	0.41mi
17525 80th Ave NE Kenmore, WA	1.0–2.0	1.0–2.0	900	$1,999	$2.22	10d	1	0.42mi
17811 80th Ave NE Kenmore, WA	2.0	2.5	1437	$3,000	$2.09	184d	1	0.43mi
7208 NE 182nd St Unit 7206 Kenmore, WA	2.0	2.0	925	$2,150	$2.32	125d	1	0.43mi
7206 NE 182nd St Kenmore, WA	2.0	2.0	909	$2,400	$2.64	10d	3	0.43mi
17827 80th Ave NE Unit B102 Kenmore, WA	3.0	2.0	1346	$3,000	$2.23	165d	1	0.44mi
18235 73rd Ave NE Kenmore, WA	2.0	1.0	875	$1,898	$2.17	2d	3	0.45mi
17921 80th Ave NE Unit A3 Kenmore, WA	3.0	2.5	1262	$3,000	$2.38	159d	1	0.46mi
18249 73rd Ave NE Kenmore, WA	2.0	1.0–2.0	952	$1,950	$2.05	2d	6	0.48mi
18151 68th Ave NE Kenmore, WA	1.0–2.0	1.0–2.0	810	$2,713	$3.35	2d	3	0.51mi
6901 NE 184th Ln #105 Kenmore, WA	2.0	2.0	1332	$2,495	$1.87	9d	1	0.52mi
6711 NE 182nd St Kenmore, WA	1.0–3.0	1.0–3.0	1137	$3,578	$3.15	0d	22	0.55mi
8044 NE Bothell Way Kenmore, WA	2.0	1.0	1200	$1,800	$1.50	63d	1	0.56mi
7000 NE 186th Pl Kenmore, WA	2.0–3.0	2.5	1496	$3,283	$2.19	0d	9	0.59mi
17515 83rd Pl NE Apt 15D Kenmore, WA	2.0	2.0	900	$1,990	$2.21	10d	1	0.59mi
16929 Inglewood Rd NE Unit C202 Kenmore, WA	2.0	2.0	1375	$3,000	$2.18	116d	1	0.60mi
17527 83rd Pl NE Kenmore, WA	2.0	2.0	900	$1,990	$2.21	10d	1	0.60mi
18523 68th Ave NE #102 Kenmore, WA	2.0	2.0	905	$2,350	$2.60	41d	1	0.65mi
6700 NE 182nd St Kenmore, WA	1.0–2.0	1.0	768	$1,900	$2.47	10d	2	0.66mi
17512 83rd Pl NE Kenmore, WA	1.0–2.0	1.0–2.0	850	$2,050	$2.41	10d	4	0.67mi
6410 NE 181st St Kenmore, WA	2.0	1.0	910	$2,500	$2.75	184d	1	0.69mi
18930 68th Ave NE Kenmore, WA	1.0–2.0	1.0–2.0	808	$2,316	$2.87	0d	8	0.74mi
19010 68th Ave NE Unit C203 Kenmore, WA	3.0	2.5	1420	$3,100	$2.18	1d	1	0.84mi
19010 68th Ave NE Unit B202 Kenmore, WA	3.0	2.5	1379	$2,800	$2.03	63d	1	0.84mi
19010 68th Ave NE Unit C203 Kenmore, WA	3.0	2.5	1420	$3,100	$2.18	18d	1	0.84mi
8700 NE Bothell Way Bothell, WA	1.0–3.0	1.0–2.0	1038	$3,225	$3.11	0d	7	0.87mi
6125 NE 175th St Unit M102 Kenmore, WA	2.0	2.0	1462	$3,800	$2.60	88d	1	0.87mi
15914 84th Ave NE Unit C Kenmore, WA	2.0	1.0	850	$1,975	$2.32	184d	1	1.03mi
17620 80th Ave NE Kenmore, WA	1.0–2.0	1.0	700	$1,945	$2.78	3d	2	1.21mi
15000 Juanita Dr NE #302 Kenmore, WA	2.0	2.0	1372	$2,700	$1.97	29d	1	1.27mi
15000 Juanita Dr NE #302 Kenmore, WA	2.0	2.0	1372	$2,550	$1.86	7d	1	1.27mi
9226 NE 184th Pl Bothell, WA	3.0	1.5	1250	$3,500	$2.80	105d	1	1.31mi
17725 Hall Rd Bothell, WA	1.0–2.0	1.0–2.0	799	$1,995	$2.50	10d	2	1.34mi
9505 NE 180th St Unit 102 Bothell, WA	2.0	2.0	1070	$2,495	$2.33	10d	1	1.38mi
6107 NE 194th Pl Kenmore, WA	2.0	1.0	902	$1,850	$2.05	121d	1	1.39mi

Property features AI

Finance

• Other: Listed as activeBuyer brokerage compensation: 3.5%Calculated building area: 1,248 (source: math)
• Financial info: Listing terms: Cash
• HOA & community: Land lease: $1,39578 homes in parkPark name: Inglewood EastSenior community (check details)Pets allowed — see remarks

Exterior

• Parking: Uncovered parking2 open parking spacesUnder carport
• Utilities: Water: North Shore UtilitySewer: North Shore UtilityPower: PSECable: ComcastInternet: Comcast
• Home design: Manufactured double wide (Fleetwood Evergreen)One levelManufactured houseMobile home remains on lot
• Construction: Wood constructionComposition roof
• Exterior features: Wood exterior productsSkirted with woodCommunity waterfront/private beach access

Interior

• Kitchen: DishwasherGarbage disposalMicrowaveRefrigeratorStove/Range
• Bedrooms: 3 bedrooms
• Flooring: Laminate
• Bathrooms: 1 full bath1 three-quarter bath
• Heating & cooling: Forced air heatingElectric power
• Interior features: Double pane windowsBath off primaryLandscapedClubhouse in community
• Laundry & utility: WasherDryerStorage under carport (1 storage)

Listing history 50 events

1. 2026-10-15
   price $164,950 Active
2. 2026-09-21
   days on market $174,950 Active
3. 2026-09-20
   days on market $174,950 Active 172 DOM
4. 2026-09-19
   days on market $174,950 Active 171 DOM
5. 2026-09-18
   days on market $174,950 Active 170 DOM
6. 2026-09-17
   days on market $174,950 Active 169 DOM
7. 2026-09-16
   days on market $174,950 Active 168 DOM
8. 2026-09-15
   days on market $174,950 Active 167 DOM
9. 2026-09-14
   days on market $174,950 Active 166 DOM
10. 2026-09-13
    days on market $174,950 Active 165 DOM
11. 2026-09-12
    days on market $174,950 Active 164 DOM
12. 2026-09-11
    pricedays on market $174,950 Active 163 DOM
13. 2026-09-05
    days on market $179,900 Active 157 DOM
14. 2026-09-04
    days on market $179,900 Active 156 DOM
15. 2026-09-03
    days on market $179,900 Active 155 DOM
16. 2026-08-31
    days on market $179,900 Active 152 DOM
17. 2026-08-29
    days on market $179,900 Active 150 DOM
18. 2026-08-28
    days on market $179,900 Active 149 DOM
19. 2026-08-27
    days on market $179,900 Active 148 DOM
20. 2026-08-25
    days on market $179,900 Active 146 DOM
21. 2026-08-24
    days on market $179,900 Active 145 DOM
22. 2026-08-23
    days on market $179,900 Active 144 DOM
23. 2026-08-22
    days on market $179,900 Active 143 DOM
24. 2026-08-21
    days on market $179,900 Active 142 DOM
25. 2026-08-20
    days on market $179,900 Active 141 DOM
26. 2026-08-19
    days on market $179,900 Active 140 DOM
27. 2026-08-18
    days on market $179,900 Active 139 DOM
28. 2026-08-17
    days on market $179,900 Active 138 DOM
29. 2026-08-16
    days on market $179,900 Active 137 DOM
30. 2026-08-15
    days on market $179,900 Active 136 DOM
31. 2026-08-14
    days on market $179,900 Active 135 DOM
32. 2026-08-13
    days on market $179,900 Active 134 DOM
33. 2026-08-12
    days on market $179,900 Active 133 DOM
34. 2026-08-11
    days on market $179,900 Active 132 DOM
35. 2026-08-10
    days on market $179,900 Active 131 DOM
36. 2026-08-09
    days on market $179,900 Active 130 DOM
37. 2026-08-08
    days on market $179,900 Active 129 DOM
38. 2026-08-06
    days on market $179,900 Active 127 DOM
39. 2026-08-05
    days on market $179,900 Active 126 DOM
40. 2026-08-04
    pricedays on market $179,900 Active 125 DOM
41. 2026-08-03
    days on market $187,950 Active 124 DOM
42. 2026-07-31
    days on market $187,950 Active 121 DOM
43. 2026-07-30
    days on market $187,950 Active 119 DOM
44. 2026-07-28
    days on market $187,950 Active 118 DOM
45. 2026-07-26
    days on market $187,950 Active 116 DOM
46. 2026-07-24
    days on market $187,950 Active 114 DOM
47. 2026-07-23
    days on market $187,950 Active 113 DOM
48. 2026-07-22
    days on market $187,950 Active 112 DOM
49. 2026-07-21
    days on market $187,950 Active 111 DOM
50. 2026-07-20
    days on market $187,950 Active 110 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 ≥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: $24,369
• − Mortgage interest: −$9,240
• − Property taxes: −$2,474
• − Insurance: −$825
• − Repairs & maintenance: −$1,950
• − Management: −$1,950
• − Depreciation: −$4,799
• Taxable income: $3,133
• Est. tax owed @ 24.0%: −$752
• After-tax cash flow: $4,820/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

Good 80/100 Cosmetic rehab Est. rehab $6,240–$18,720 screening

This home is in excellent condition with a fresh exterior and interior. It's move-in ready with new appliances and fixtures, making it an attractive option for both resale and rental.

Value-add opportunities

• Both Paint interior walls and ceiling — Fresh paint enhances curb appeal and interior aesthetics. ↑
• Resale Replace countertops with quartz or granite — Quartz or granite countertops are more durable and aesthetically pleasing, increasing resale value. ↑
• Both Install smart home devices — Smart home devices improve convenience and energy efficiency, enhancing both resale and rental value. ↑
• Both Add a smart thermostat — A smart thermostat can save energy and improve comfort, increasing both resale and rental value. ↑
• Both Install a water softener — A water softener can improve water quality and reduce maintenance costs, increasing both resale and rental value. ↑

ⓘ 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 Arrowhead Elementary Middle Kenmore Middle School High Inglemoor Hs

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

A Composite livability gradescore 86/100

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 · 2,576,485 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: 17% 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 0.55)
• Race & ethnicity: White 64% Asian 15% Hispanic / Latino 11% Two or more races 10% Black 3%
• Hispanic origin (detail): Mexican 8%
• 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

Property features AI

Finance

• Other: Listed as activeBuyer brokerage compensation: 3.5%Calculated building area: 1,248 (source: math)
• Financial info: Listing terms: Cash
• HOA & community: Land lease: $1,39578 homes in parkPark name: Inglewood EastSenior community (check details)Pets allowed — see remarks

Exterior

• Parking: Uncovered parking2 open parking spacesUnder carport
• Utilities: Water: North Shore UtilitySewer: North Shore UtilityPower: PSECable: ComcastInternet: Comcast
• Home design: Manufactured double wide (Fleetwood Evergreen)One levelManufactured houseMobile home remains on lot
• Construction: Wood constructionComposition roof
• Exterior features: Wood exterior productsSkirted with woodCommunity waterfront/private beach access

Interior

• Kitchen: DishwasherGarbage disposalMicrowaveRefrigeratorStove/Range
• Bedrooms: 3 bedrooms
• Flooring: Laminate
• Bathrooms: 1 full bath1 three-quarter bath
• Heating & cooling: Forced air heatingElectric power
• Interior features: Double pane windowsBath off primaryLandscapedClubhouse in community
• Laundry & utility: WasherDryerStorage under carport (1 storage)

Price history

1 event — show timeline

• 2026-04-01 Listed $187,950 NWMLS as Distributed by MLS Grid