23800 SE Tiger Mountain Rd #14 · Mirrormont, WA 98027

$75,000

2 bd · 2.0 ba · 1,056 sqft · Manufactured · 177 Days on market

Built 1983 Fair condition $71/sqft · 70% below area ↓ 20% since listing

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +7.3/10.0
• Livability +3.2/5.0
• Rent growth +2.9/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

1983 Single Wide Manufactured Home in a 55+ Park. 2 Bedrooms. 1 Full Bath, 1 3/4 Bath. Covered Porch. Mini Split and Forced Air. Vinyl Flooring and Wall to Wall Carpet. Vaulted Ceilings. Vinyl Window. Septic Maintained By Park. Well Maintained By Park. Service Dogs and Indoor Cats Only. Interested Buyers Must Apply to and be Approved by Park Before Closing. All Appliances Stay. Furniture Can Stay at No Extra Charge if Buyer Wants it. Laundry Room. Shed on Lot. Seller Will Do No Repairs. Buyer Welcome to have an Inspection done for their Information. Home is Priced to Reflect the Cost of any Repairs that may be needed.

Key facts

• Covered porch
• Vinyl flooring
• Wall to wall carpet

Tags

• COVERED PORCH
• MINI SPLIT
• FORCED AIR
• VINYL FLOORING
• WALL TO WALL CARPET
• VAULTED CEILINGS

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $75k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $75k).
• Recommended offer: $66k (12.0% below list) — sets the bar for market timing.
• Cap rate 29.4% vs local median 1.4% in Mirrormont — 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 65/100 on livability (#335 in WA) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A; Watch: amenities F, commute F, cost of living F.
• Issaquah School District (suburban): math 77% / reading 81% proficiency, ranked #4 of 291 in WA (top 1%) — strong family-tenant draw, lease renewals of 3-5y typical; only 7% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising (+1.4%/yr); 230 active listings in the ZIP; 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 $519 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 + 1.4% rent growth), your $21k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 177 days — a 12% lower offer ($66k) is reasonable based on typical stale-listing flexibility.

Recommended offer $66,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 177 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
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. 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: 3.31% ✓
• Cap rate: 29.36%
• Cash-on-cash: 82.38%
• DSCR: 4.67
• GRM: 2.5

CMA / ARV

• ARV (median comp): $249,935
• List price: $75,000
• Delta: -69.99%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
23800 SE Tiger Mountain Rd #6	0.08mi	2/2.0	1,008 (-4%)	15mo	$86,000	$85	76
14603 Cedar Grove Rd SE	0.33mi	3/1.0 (+1)	1,000 (-5%)	8mo	$250,000	$250	60

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 · 1.4% rent growth · sell at horizon

5-year hold

• IRR: 80.9%
• Equity multiple: 4.61×
• Total profit: $75,777
• Equity at exit: $11,183

10-year hold

• IRR: 83.9%
• Equity multiple: 9.04×
• Total profit: $168,753
• Equity at exit: $6,485

Cash invested: $21,000 (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 98027

• Rents YoY: 1.4%
• Active inventory: 230
• Price-to-rent: 2.5×

Monthly cashflow live

• Estimated rent: $2,481 medium
• Mortgage (P&I): −$393
• Tax est. 1.5%: −$94 /mo · $1,125/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$521
• Net cashflow: $1,442

Break-even live

Break-even rent $656

Max offer price $75,000

Occupancy floor 37%

Sensitivity live

Price	-10% $1,494	-5% $1,468	+0% $1,442	+5% $1,416	+10% $1,390
Rent	-10% $1,246	-5% $1,344	+0% $1,442	+5% $1,540	+10% $1,638
Rate	-1.0pp $1,479	-0.5pp $1,461	base $1,442	+0.5pp $1,422	+1.0pp $1,403

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-21
   days on market $75,000 Active 177 DOM
2. 2026-06-18
   days on market $75,000 Active 174 DOM
3. 2026-06-17
   days on market $75,000 Active 173 DOM
4. 2026-06-16
   days on market $75,000 Active 172 DOM
5. 2026-06-15
   days on market $75,000 Active 171 DOM
6. 2026-06-13
   days on market $75,000 Active 169 DOM
7. 2026-06-13
   days on market $75,000 Active 168 DOM
8. 2026-06-09
   days on market $75,000 Active 165 DOM
9. 2026-06-08
   days on market $75,000 Active 164 DOM
10. 2026-06-07
    days on market $75,000 Active 163 DOM
11. 2026-06-04
    days on market $75,000 Active 160 DOM
12. 2026-06-03
    days on market $75,000 Active 159 DOM
13. 2026-06-02
    days on market $75,000 Active 158 DOM
14. 2026-06-01
    days on market $75,000 Active 157 DOM
15. 2026-05-31
    days on market $75,000 Active 156 DOM
16. 2026-05-11
    price $75,000
17. 2026-04-15
    price $90,000
18. 2025-12-26
    listed $94,000 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 1/10 Low
• 🌡 Heat 2/10 Low 8 d/yr ≥86°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 7/10 Severe 10 unhealthy d/yr today · 16 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,773
• − Mortgage interest: −$4,201
• − Property taxes: −$1,125
• − Insurance: −$375
• − Repairs & maintenance: −$2,382
• − Management: −$2,382
• − Depreciation: −$2,182
• Taxable income: $17,126
• Est. tax owed @ 24.0%: −$4,110
• After-tax cash flow: $13,190/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

Fair 45/100 Moderate rehab

This 1983 single-wide manufactured home requires moderate repairs and updates to improve its condition and value. Key areas for improvement include the kitchen and bathroom, exterior siding, and landscaping. Upgrades in these areas would significantly enhance its resale and rental potential.

Repairs flagged

• Moderate kitchen cabinets — dated and in need of updating
• Moderate bathroom vanity — dated and in need of updating
• Minor exterior siding — some moss and mildew

Value-add opportunities

• Resale paint interior walls — fresh paint enhances curb appeal
• Resale update kitchen cabinets and countertops — modernizing the kitchen boosts appeal
• Resale replace bathroom vanity — modern vanity improves bathroom functionality
• Both landscaping refresh — enhances curb appeal and adds value
• Rental HVAC system upgrade — modern HVAC system improves comfort and energy efficiency

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · dated and in need of updating	Moderate	$3,000–15,000
bathroom vanity · dated and in need of updating	Moderate	$3,000–15,000
exterior siding · some moss and mildew	Minor	$500–3,000
Total estimated repair cost · 3 items		$6,500–33,000

Value-add ROI direction

• Resale paint interior walls — fresh paint enhances curb appeal ↑
• Resale update kitchen cabinets and countertops — modernizing the kitchen boosts appeal ↑
• Resale replace bathroom vanity — modern vanity improves bathroom functionality ↑
• Both landscaping refresh — enhances curb appeal and adds value ↑
• Rental HVAC system upgrade — modern HVAC system improves comfort and energy efficiency ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Issaquah School District
• NCES district ID: 5303750
• Math proficiency: 77% ▼ -1.00%
• Reading proficiency: 81% ▲ 1.00%
• Median HH income: $109,747
• Composite: 73.35/100
• National rank: #339
• State rank: #4 of 291 in WA

Livability — Mirrormont

• Score: 65/100
• State rank: #335
• US rank: #12784

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mirrormont, WA
• County: King County · 2,251,916 people
• Metro: Seattle-Tacoma-Bellevue, WA
• Population (ZIP): 28,955
• Household income: $153,301
• Rent vs Own: 32.4% rent · 67.6% own
• Severe rent burden: 737.0

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 (69%)
• Race & ethnicity: White 69% Asian 16% Two or more races 9% Hispanic / Latino 7% Black 1%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Italian 5% Portuguese 5% Slovak 3%
• Foreign-born: 18% · China, Canada, South Korea
• Languages at home: 81% English-only · Chinese 5% Spanish 4% 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: ▼ -862.37%
• Current HPI: 370.0484
• Rent YoY: ▲ 1.40%
• 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

-20.2% since first listed

3 events — show timeline

• 2026-05-11 Price Changed $75,000 NWMLS as Distributed by MLS Grid
• 2026-04-15 Price Changed $90,000 NWMLS as Distributed by MLS Grid
• 2025-12-26 Listed $94,000 NWMLS as Distributed by MLS Grid