8805 14th Ave S · Seattle, WA 98108

$1,805,000

100 bd · 100.0 ba · 5,140 sqft · MultiFamily public records · 122 Days on market

Built 1959 7,800 sqft lot $351/sqft · 28% above area Est $1407k · 28% over

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Why this score? — see what drove the D 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 +17.5/30.0
• Schools +6.1/10.0
• DSCR +5.5/10.0
• 1% rule +4.0/10.0
• Livability +3.8/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 10 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Newly remodeled 10 unit apartment complex with courtyard and patios, parking for 5 cars on site, coin-operated laundry and storage. All units were completely remodeled in 2017-2019: new floors, kitchens, bathrooms, paint. Building has a new roof (on both buildings: 2019 and 2025), fresh paint (2024), gated access. Fully occupied and well maintained with 0% vacancy and excellent financials. RRIO inspection has been successfully passed in 2019.

Key facts

• Storage
• Gated access
• Patios

Tags

• COURTYARD
• PATIOS
• COIN-OPERATED LAUNDRY
• STORAGE
• NEW ROOF
• GATED ACCESS

What this means for you Summary

Snapshot

• This is a 10 × 1-bed/1-bath units multifamily listed at $1.80M.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive. Per door: $139/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $1.62M (10.4% below list).
• Recommended offer: $1.59M (12.0% below list) — sets the bar for market timing.
• Cap rate 7.2% vs local median 1.6% in Seattle — 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 75/100 on livability (#166 in WA, #4,033 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, employment A+; Watch: crime F, cost of living F.
• Seattle Public Schools (urban): math 64% / reading 72% proficiency, ranked #19 of 291 in WA (top 6%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents flat; 135 active listings in the ZIP; solid renter incomes; 10,555 units permitted in King County in 2024 (7,119 in 5+ unit buildings).
• At $16,168/mo this rent would consume 203% of the median local household income ($96k/yr) (locally 813% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $12k of loan paydown is wiped out by about $54k 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 122 days — a 12% lower offer ($1.59M) is reasonable based on typical stale-listing flexibility.
• Current owner paid $614k; list at $1.80M implies a 194% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1959 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $1,588,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 122 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1959 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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?
10. 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.
11. 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.
12. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.90% ✗
• Cap rate: 7.22%
• Cash-on-cash: 3.30%
• DSCR: 1.15
• GRM: 9.3

CMA / ARV

• ARV (median comp): $1,406,944
• List price: $1,805,000
• Delta: 28.65%
• Verdict: OVERPRICED
• Comps: 4 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.44% rent growth · sell at horizon

5-year hold

• IRR: -13.8%
• Equity multiple: 0.52×
• Total profit: $-245,041
• Equity at exit: $269,131

10-year hold

• IRR: -9.3%
• Equity multiple: 0.49×
• Total profit: $-259,481
• Equity at exit: $156,063

Cash invested: $505,400 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (CITY): 0 Strongly Tenant-Friendly
• State Washington: 28 Tenant-Leaning · D+8
• County: — inherits STATE
• City Seattle: 0 Strongly Tenant-Friendly · D+52

Just Cause + Relocation Assistance + Source of Income + First in Time.

Methodology + full state rankings →

ZIP-level market 98108

• Rents YoY: 0.4%
• Active inventory: 135
• Price-to-rent: 93.0×

Monthly cashflow live

• Estimated rent: $16,168 high
• Mortgage (P&I): −$9,466
• Tax from tax record: −$1,166 /mo · $13,990/yr
• Insurance: −$752
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,395
• Net cashflow: $1,389

Break-even live

Break-even rent $14,409

Max offer price $1,805,000

Occupancy floor 86%

Sensitivity live

Price	-10% $2,411	-5% $1,900	+0% $1,389	+5% $878	+10% $367
Rent	-10% $112	-5% $751	+0% $1,389	+5% $2,028	+10% $2,666
Rate	-1.0pp $2,298	-0.5pp $1,848	base $1,389	+0.5pp $922	+1.0pp $446

10-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 10× units	1	1	$16,170
Total (10 units)			$16,168

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: $451,250
• Closing costs: $54,150
• Reserves months: —
• Total cash needed: —

Listing history 27 events

1. 2026-06-21
   days on market $1,805,000 Active 122 DOM
2. 2026-06-21
   pricedays on market $1,805,000 Active 121 DOM
3. 2026-06-19
   days on market $1,810,000 Active 120 DOM
4. 2026-06-18
   days on market $1,810,000 Active 119 DOM
5. 2026-06-17
   days on market $1,810,000 Active 118 DOM
6. 2026-06-16
   days on market $1,810,000 Active 117 DOM
7. 2026-06-15
   days on market $1,810,000 Active 116 DOM
8. 2026-06-15
   days on market $1,810,000 Active 115 DOM
9. 2026-06-13
   days on market $1,810,000 Active 114 DOM
10. 2026-06-12
    days on market $1,810,000 Active 113 DOM
11. 2026-06-10
    days on market $1,810,000 Active 111 DOM
12. 2026-06-09
    days on market $1,810,000 Active 110 DOM
13. 2026-06-08
    days on market $1,810,000 Active 109 DOM
14. 2026-06-07
    days on market $1,810,000 Active 108 DOM
15. 2026-06-07
    days on market $1,810,000 Active 107 DOM
16. 2026-06-04
    days on market $1,810,000 Active 105 DOM
17. 2026-06-03
    days on market $1,810,000 Active 104 DOM
18. 2026-06-02
    days on market $1,810,000 Active 103 DOM
19. 2026-06-01
    days on market $1,810,000 Active 102 DOM
20. 2026-05-31
    days on market $1,810,000 Active 101 DOM
21. 2026-02-19
    listed $1,810,000 Active
22. 2015-10-16
    soldstatus $614,350
23. 2003-07-03
    soldstatus $455,000
24. 1999-12-28
    soldstatus $396,000
25. 1997-05-20
    soldstatus $290,000
26. 1992-05-15
    soldstatus $265,000
27. 1989-11-06
    soldstatus $210,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast WA · Resets to sale price

• Current annual tax: $13,990 · $1,166/mo
• Projected year-2 tax: $17,689 · $1,474/mo
• Expected delta: +$3,699/yr (+$308/mo · 26.4%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 27% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥86°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 7/10 Severe 9 unhealthy d/yr today · 12 by 30 yrs out

Taxation est. · year 1

• Rental income: $194,016
• − Mortgage interest: −$101,108
• − Property taxes: −$13,990
• − Insurance: −$9,025
• − Repairs & maintenance: −$15,521
• − Management: −$15,521
• − Depreciation: −$52,509
• Taxable loss: −$13,658
• Est. tax savings @ 24.0%: +$3,278
• After-tax cash flow: $19,949/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: Seattle Public Schools
• NCES district ID: 5307710
• Math proficiency: 64% ▼ -1.00%
• Reading proficiency: 72% ▬ 0.00%
• Median HH income: $68,695
• Composite: 60.76/100
• National rank: #1649
• State rank: #19 of 291 in WA

Livability — Seattle

• Score: 75/100
• State rank: #166
• US rank: #4033

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Seattle, WA
• County: King County · 2,251,916 people
• City population: 706,262
• Metro: Seattle-Tacoma-Bellevue, WA
• Population (ZIP): 25,529
• Household income: $95,780
• Rent vs Own: 41.8% rent · 58.2% own
• Severe rent burden: 813.0

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: Highly diverse neighborhood (Simpson 0.75)
• Race & ethnicity: Asian 37% White 25% Black 19% Hispanic / Latino 11% Two or more races 10% Native American 3%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Portuguese 2% Slovak 2% Romanian 1%
• Foreign-born: 35% · China, Canada, Vietnam
• Languages at home: 50% English-only · Chinese 16% Spanish 8% Vietnamese 6%

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: ▼ -781.48%
• Current HPI: 337.1308
• Rent YoY: ▲ 0.44%
• 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

+761.9% since first listed

7 events — show timeline

• 2026-02-19 Listed $1,810,000 NWMLS as Distributed by MLS Grid
• 2015-10-16 Sold (Public Records) $614,350 Public Records
• 2003-07-03 Sold (Public Records) $455,000 Public Records
• 1999-12-28 Sold (Public Records) $396,000 Public Records
• 1997-05-20 Sold (Public Records) $290,000 Public Records
• 1992-05-15 Sold (Public Records) $265,000 Public Records
• 1989-11-06 Sold (Public Records) $210,000 Public Records

Property tax history

+6.7%/yr

Latest (2025): $13,990 · -1.4% YoY. Source: county tax records.