2101 Glacier St #80 · Enumclaw, WA 98022

$345,000

2 bd · 2.0 ba · 1,296 sqft · Manufactured · 73 Days on market

Built 2025 $266/sqft · at area comps Est $334k · at est.

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Why this score? — see what drove the F 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 +7.1/30.0
• ARV discount +6.0/15.0
• Schools +5.5/10.0
• Livability +4.4/5.0
• Rent growth +3.6/5.0
• Condition / age +2.5/5.0
• 1% rule +1.9/10.0
• DSCR +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to Crystal Mt MHC, a 55+ land lease community! Pass through the gates and discover The Rainier that's near completion. This home is the first of its kind, offering a spacious and functional open-concept layout. This home features a large covered front porch, a den with double doors, an attached garage, and an eat-in kitchen with a dedicated dining area. The kitchen comes equipped with stainless steel appliances, ample cabinetry with a rich finish, recessed lighting, and stylish pendant fixtures. The primary suite includes a walk-in closet, double sinks, and a walk-in shower for added comfort. Enjoy professionally designed front and back landscaping, plus a fully fenced yard. Communi

Key facts

• Ample cabinetry
• Eat-in kitchen
• Gas range

Tags

• LARGE COVERED FRONT PORCH
• DEN WITH DOUBLE DOORS
• EAT-IN KITCHEN
• STAINLESS STEEL APPLIANCES
• GAS RANGE
• AMPLE CABINETRY

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $345k.

Deal economics

• At list price, monthly cash flow is $-494 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $274k (20.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $239k (30.6% below list).
• Recommended offer: $239k (30.6% below list) — sets the bar for 1% rule.
• Cap rate 4.6% 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: Byron Kibler Elementary School (434 students, 41% 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; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 0d 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 $2k of loan paydown is wiped out by about $10k 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

• It's been on market 73 days — a 6% lower offer ($324k) is reasonable based on typical stale-listing flexibility.

Recommended offer $239,258 (30.6% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 73 days. Have you received any prior offers? Is the seller open to a 31% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
6. 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.
7. 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.
8. 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: 0.69% ✗
• Cap rate: 4.57%
• Cash-on-cash: -6.14%
• DSCR: 0.73
• GRM: 12.0

CMA / ARV

• ARV (median comp): $333,796
• List price: $345,000
• Delta: 3.36%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2109 Timber St #39	0.08mi	2/2.0	1,296 (0%)	2mo	$340,000	$262	94
1413 Orangewood St #21	0.17mi	2/2.0	1,342 (+4%)	5mo	$265,000	$197	82
2108 Crystal Mountain Dr #86	0.05mi	2/2.0	1,450 (+12%)	2mo	$342,900	$236	76
2063 Crystal Mountain Dr #107	0.05mi	2/2.0	1,440 (+11%)	4mo	$450,135	$313	75
1736 Timber St #115	0.13mi	2/2.0	1,440 (+11%)	2mo	$344,000	$239	74
1504 Sunrise Ave	0.29mi	2/2.0	1,344 (+4%)	12mo	$210,000	$156	70
2076 Paradise Ave #15	0.15mi	2/2.0	1,440 (+11%)	6mo	$335,000	$233	69
1638 Glacier St	0.10mi	2/2.0	1,450 (+12%)	8mo	$417,000	$288	69
2259 Rincon Ave	0.30mi	3/2.0 (+1)	1,344 (+4%)	11mo	$207,500	$154	66
2076 Crystal Mountain Dr #89	0.06mi	3/2.0 (+1)	1,485 (+15%)	3mo	$332,900	$224	66
2257 Estero Ave	0.27mi	3/2.0 (+1)	1,188 (-8%)	4mo	$85,000	$72	66
2234 Sunset Ave	0.37mi	2/2.0	1,488 (+15%)	3mo	$115,000	$77	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 · 4.32% rent growth · sell at horizon

5-year hold

• IRR: -25.4%
• Equity multiple: 0.13×
• Total profit: $-84,118
• Equity at exit: $51,441

10-year hold

• IRR: -18.0%
• Equity multiple: -0.04×
• Total profit: $-100,051
• Equity at exit: $29,829

Cash invested: $96,600 (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: 12.0×

Monthly cashflow live

• Estimated rent: $2,393 high
• Mortgage (P&I): −$1,809
• Tax est. 1.5%: −$431 /mo · $5,175/yr
• Insurance: −$144
• HOA: −$0
• Vacancy / Maint / Mgmt: −$502
• Net cashflow: $-494

Break-even live

Break-even rent $3,018

Max offer price $273,506

Occupancy floor —

Sensitivity live

Price	-10% $-256	-5% $-375	+0% $-494	+5% $-613	+10% $-733
Rent	-10% $-683	-5% $-589	+0% $-494	+5% $-400	+10% $-305
Rate	-1.0pp $-320	-0.5pp $-406	base $-494	+0.5pp $-583	+1.0pp $-674

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: $86,250
• Closing costs: $10,350
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
556 Bondgard Ave E Enumclaw, WA	3.0	2.0	1480	$2,995	$2.02	12d	1	0.95mi
615 Watson St N Unit 617B Enumclaw, WA	2.0	1.0	960	$1,999	$2.08	0d	1	1.18mi
124 Jewell St Enumclaw, WA	3.0	1.5	1540	$3,200	$2.08	45d	1	1.34mi
847 Blake St Enumclaw, WA	3.0	1.0	1064	$2,000	$1.88	0d	1	1.39mi
320 Chinook Ave Enumclaw, WA	2.0–3.0	1.0–2.0	923	$1,874	$2.03	0d	7	1.44mi

Listing history 10 events

1. 2026-06-13
   statusdays on market $345,000 Pending 73 DOM
2. 2026-06-09
   days on market $345,000 Active 71 DOM
3. 2026-06-08
   days on market $345,000 Active 70 DOM
4. 2026-06-07
   days on market $345,000 Active 69 DOM
5. 2026-06-04
   days on market $345,000 Active 66 DOM
6. 2026-06-03
   days on market $345,000 Active 65 DOM
7. 2026-06-02
   days on market $345,000 Active 64 DOM
8. 2026-06-01
   days on market $345,000 Active 63 DOM
9. 2026-05-31
   days on market $345,000 Active 62 DOM
10. 2026-03-30
    listed $345,000 Active

ⓘ 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 2/10 Low
• 🌡 Heat 1/10 Low 6 d/yr ≥84°F today · 13 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: $28,711
• − Mortgage interest: −$19,325
• − Property taxes: −$5,175
• − Insurance: −$1,725
• − Repairs & maintenance: −$2,297
• − Management: −$2,297
• − Depreciation: −$10,036
• Taxable loss: −$12,145
• Est. tax savings @ 24.0%: +$2,915
• After-tax cash flow: $-3,014/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

1 event — show timeline

• 2026-03-30 Listed $345,000 NWMLS as Distributed by MLS Grid