1200 Boylston Ave #304 · Seattle, WA 98101

$225,000

1 bd · 1.0 ba · 600 sqft · Condo public records · 41 Days on market

Built 1960 $375/sqft · 31% below area Est $327k · 31% under $740/mo HOA · 36% of rent

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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).

• ARV discount +15.0/15.0
• Schools +6.1/10.0
• Appreciation +4.7/10.0
• Cash flow +4.4/30.0
• 1% rule +4.0/10.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• DSCR +0.0/10.0

Listing remarks

Got allergies? This condo is for you! No pets allowed and no carpet in the unit! Unit features vinyl plank floors, fresh paint, & brand new refrigerator. Windows face east for morning sun and cooler afternoons. Walkable to downtown & Cap Hill - central location to restaurants, music venues, parks, grocery, & hospitals. Proactive HOA and a secure building. HOA dues include heat and hot water. No rental cap means you can live there yourself or rent it out - lots of flexibility! Easy access to buses and light rail - Location! Location! Location!

Key facts

• Fresh paint
• Secure building
• Walkable to downtown

Tags

• WALKABLE TO DOWNTOWN
• SECURE BUILDING
• VINYL PLANK FLOORS
• FRESH PAINT
• BRAND NEW REFRIGERATOR

Property features AI

Finance

• Other: 49 units in the building; Common features include elevator and lobby entrance; Bus service nearby
• Financial info: Listing terms: Cash or Conventional
• HOA & community: Monthly association fee of $740; HOA fee includes central hot water, sewer, trash, and water; Building amenities: elevator, lobby entrance, fire sprinklers; Pets not allowed; Association contact: Melanie Ondruska

Exterior

• Parking: No parking included
• Security: Fire sprinklers; Lobby entrance
• Utilities: Electric and natural gas service; Water and sewer provided by SPU; Power from Seattle City Light; Cable and internet: Comcast Xfinity
• Home design: Attached condominium; One-level condo unit; Located on the 3rd floor of a 10-story building; Main-level entry; Building name: Manhattan
• Construction: Cement construction materials; Flat torch-down roof; Built as a multi-family structure
• Exterior features: Cement/concrete exterior; Corner lot setting; Alley access; Paved surfaces and sidewalks

Interior

• Kitchen: Dishwasher; Garbage disposal; Microwave; Refrigerator; Stove/Range
• Bedrooms: One bedroom on the main level (Primary Bedroom on main level)
• Flooring: Vinyl; Vinyl plank
• Bathrooms: One full bathroom with bathtub and separate shower (main level)
• Heating & cooling: Radiator heating; No central air conditioning
• Interior features: Blinds on windows; End unit with insulated windows; Entry hall; Dining room; Living room; Unit has a view
• Laundry & utility: Storage in basement (storage unit #304)

🏷️ Possibly a rental listed for sale. The $225,000 price doesn't fit this home's estimated sale value (~$327,147) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $225k.

Deal economics

• At list price, monthly cash flow is $-594 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $120k (46.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $203k (9.6% below list).
• Recommended offer: $120k (46.6% below list) — sets the bar for cash-flow.
• Cap rate 3.1% 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.
• Zoned schools: Hazel Wolf K-8 (720 students, 22% FRL); Washington Middle School (555 students, 65% FRL); Garfield High School (1,642 students, 40% FRL).
• Market conditions: Rents soft (-0.3%/yr); 155 active listings in the ZIP; 40 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

• In year one you build about $382 of equity ($2k loan paydown + $-1k appreciation (-0.5% local appreciation)).
• 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 41 days — a 3% lower offer ($218k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $56k; list at $225k implies a 305% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 36% of rent.

Recommended offer $120,104 (46.6% 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 41 days. Have you received any prior offers? Is the seller open to a 47% concession, seller financing, or rate buy-down credit?
3. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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: 3.13%
• Cash-on-cash: -11.31%
• DSCR: 0.50
• GRM: 9.2

CMA / ARV

• ARV (median comp): $327,147
• List price: $225,000
• Delta: -31.22%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-0.52% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -20.5%
• Equity multiple: 0.12×
• Total profit: $-55,392
• Equity at exit: $59,525

10-year hold

• IRR: -17.3%
• Equity multiple: -0.50×
• Total profit: $-94,731
• Equity at exit: $67,067

Cash invested: $63,000 (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 98101

• Home prices YoY: -0.3%
• Rents YoY: -0.3%
• Active inventory: 155
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $2,033 high
• Mortgage (P&I): −$1,180
• Tax from tax record: −$186 /mo · $2,237/yr
• Insurance: −$94
• HOA: −$740
• Vacancy / Maint / Mgmt: −$427
• Net cashflow: $-594

Break-even live

Break-even rent $2,785

Max offer price $120,104

Occupancy floor —

Sensitivity live

Price	-10% $-466	-5% $-530	+0% $-594	+5% $-657	+10% $-721
Rent	-10% $-754	-5% $-674	+0% $-594	+5% $-513	+10% $-433
Rate	-1.0pp $-480	-0.5pp $-537	base $-594	+0.5pp $-652	+1.0pp $-711

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1321 Seneca St Seattle, WA	1.0	1.0	648	$2,995	$4.62	14d	1	0.02mi
1321 Seneca St Seattle, WA	1.0	1.0	696	$3,100	$4.45	12d	1	0.02mi
1100 Boylston Ave Seattle, WA	1.0–2.0	1.0	720	$2,537	$3.52	0d	11	0.03mi
1201 Boylston Ave Seattle, WA	1.0	1.0	563	$1,945	$3.45	0d	4	0.04mi
1414 Seneca St Seattle, WA	2.0	1.0	732	$1,698	$2.32	0d	4	0.05mi
1220 Boylston Ave Seattle, WA	1.0	1.0	725	$1,470	$2.03	0d	3	0.06mi
1215 Seneca St Seattle, WA	2.0	1.0	546	$1,745	$3.19	0d	7	0.08mi
1425 Spring St Seattle, WA	1.0–3.0	1.0–3.0	1575	$2,302	$1.46	0d	14	0.09mi
1103 Summit Ave Seattle, WA	—	1.0	331	$1,555	$4.70	45d	5	0.09mi
1103 Summit Ave Seattle, WA	—	1.0	352	$1,375	$3.91	0d	3	0.09mi
604 E Union St Seattle, WA	—	1.0	514	$1,362	$2.65	0d	4	0.09mi
1404 Boylston Ave Seattle, WA	—	1.0	361	$1,462	$4.05	0d	6	0.09mi
1421 Harvard Ave Seattle, WA	2.0	1.0–2.0	721	$3,118	$4.32	0d	5	0.10mi
1416 Boylston Ave Seattle, WA	2.0	1.0–2.0	911	$2,950	$3.24	15d	5	0.10mi
1417 Boylston Ave #121 Seattle, WA	1.0	1.0	525	$1,495	$2.85	0d	1	0.11mi
1419 Boylston Ave Apt 321 Seattle, WA	—	1.0	400	$1,195	$2.99	0d	1	0.11mi
1420 Boylston Ave Apt 2 Seattle, WA	1.0	1.0	485	$1,250	$2.58	45d	1	0.12mi
516 E Union St Seattle, WA	—	1.0	432	$1,310	$3.03	0d	4	0.12mi
506 E Union St Seattle, WA	1.0	1.0	390	$1,295	$3.32	0d	2	0.13mi
713 E Pike St Unit 301 Seattle, WA	2.0	1.0	730	$1,850	$2.53	26d	1	0.13mi
1000 Minor Ave Seattle, WA	2.0	1.0–2.0	858	$2,684	$3.13	0d	21	0.14mi
601 E Pike St Seattle, WA	1.0	1.0	560	$2,599	$4.64	0d	4	0.14mi
1430 Summit Ave Seattle, WA	1.0–2.0	1.0–2.0	779	$2,195	$2.82	0d	7	0.16mi
1001 Minor Ave Seattle, WA	1.0–2.0	1.0–2.0	790	$2,312	$2.93	0d	14	0.16mi
501 E Pike St Seattle, WA	1.0–2.0	1.0–2.0	779	$2,225	$2.85	0d	7	0.17mi
1225 10th Ave Seattle, WA	1.0	1.0	433	$2,095	$4.84	0d	6	0.17mi
954 E Union St Seattle, WA	2.0	1.0–2.0	843	$2,845	$3.37	0d	4	0.17mi
1512 Boylston Ave Seattle, WA	1.0	1.0	600	$1,395	$2.33	0d	1	0.17mi
1220 Boren Ave Seattle, WA	1.0	1.0	585	$2,495	$4.26	0d	7	0.17mi
1105 Spring St Seattle, WA	1.0	1.0	655	$1,888	$2.88	0d	2	0.18mi
1105 Spring St Seattle, WA	1.0	1.0	655	$1,875	$2.86	4d	3	0.18mi
1511 Boylston Ave Apt 106 Seattle, WA	1.0	1.0	600	$1,525	$2.54	19d	1	0.18mi
1511 Boylston Ave Apt 304 Seattle, WA	1.0	1.0	600	$1,550	$2.58	23d	1	0.18mi
1511 Boylston Ave Seattle, WA	1.0	1.0	600	$1,550	$2.58	3d	1	0.18mi
1530 Belmont Ave Seattle, WA	2.0	1.0–3.0	889	$2,858	$3.21	0d	1	0.19mi
1525 Harvard Ave Seattle, WA	1.0–2.0	1.0–2.0	717	$2,310	$3.22	0d	3	0.19mi
1017 Boren Ave Seattle, WA	—	1.0	473	$1,440	$3.04	0d	1	0.21mi
1529 Boylston Ave Seattle, WA	1.0	1.0	450	$1,325	$2.94	0d	1	0.21mi
1020 Seneca St Seattle, WA	1.0	1.0	592	$2,477	$4.18	0d	9	0.21mi
1414 10th Ave Seattle, WA	2.0	1.0–2.0	816	$2,864	$3.51	0d	22	0.21mi

HOA detail condo

• Monthly dues: $740 · $8,880/yr
• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 26 events

1. 2026-06-22
   days on market $225,000 Active 41 DOM
2. 2026-06-21
   days on market $225,000 Active 40 DOM
3. 2026-06-21
   days on market $225,000 Active 39 DOM
4. 2026-06-19
   days on market $225,000 Active 38 DOM
5. 2026-06-18
   days on market $225,000 Active 37 DOM
6. 2026-06-17
   days on market $225,000 Active 36 DOM
7. 2026-06-16
   days on market $225,000 Active 35 DOM
8. 2026-06-15
   days on market $225,000 Active 34 DOM
9. 2026-06-15
   days on market $225,000 Active 33 DOM
10. 2026-06-13
    days on market $225,000 Active 32 DOM
11. 2026-06-12
    days on market $225,000 Active 31 DOM
12. 2026-06-10
    days on market $225,000 Active 29 DOM
13. 2026-06-09
    days on market $225,000 Active 28 DOM
14. 2026-06-08
    days on market $225,000 Active 27 DOM
15. 2026-06-07
    days on market $225,000 Active 26 DOM
16. 2026-06-07
    days on market $225,000 Active 25 DOM
17. 2026-06-04
    days on market $225,000 Active 23 DOM
18. 2026-06-03
    days on market $225,000 Active 22 DOM
19. 2026-06-02
    days on market $225,000 Active 21 DOM
20. 2026-06-01
    days on market $225,000 Active 20 DOM
21. 2026-05-31
    days on market $225,000 Active 19 DOM
22. 2026-05-12
    listed $225,000 Active
23. 1994-11-04
    soldstatus $55,500
24. 1990-06-15
    soldstatus $60,000
25. 1987-05-11
    soldstatus $34,000
26. 1980-06-18
    soldstatus $40,500

ⓘ 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: $2,237 · $186/mo
• Projected year-2 tax: $2,237 · $186/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

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 · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 7/10 Severe 11 unhealthy d/yr today · 11 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,399
• − Mortgage interest: −$12,603
• − Property taxes: −$2,237
• − Insurance: −$1,125
• − Repairs & maintenance: −$1,952
• − Management: −$1,952
• − HOA: −$8,880
• − Depreciation: −$6,545
• Taxable loss: −$10,895
• Est. tax savings @ 24.0%: +$2,615
• After-tax cash flow: $-4,511/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): 17,153
• Household income: $128,882
• Rent vs Own: 86.5% rent · 13.5% own
• Severe rent burden: 1840.0

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: Diverse neighborhood (Simpson 0.64)
• Race & ethnicity: White 48% Asian 35% Two or more races 7% Black 6% Hispanic / Latino 5%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Italian 2% Slovak 2% Lithuanian 1%
• Foreign-born: 38% · China, Canada, South Korea
• Languages at home: 67% English-only · Other Indo-European 10% Chinese 8% Spanish 4%

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: ▼ -0.52%
• Current HPI: 193.0062
• Rent YoY: ▼ -0.28%
• 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

+455.6% since first listed

5 events — show timeline

• 2026-05-12 Listed $225,000 NWMLS as Distributed by MLS Grid
• 1994-11-04 Sold (Public Records) $55,500 Public Records
• 1990-06-15 Sold (Public Records) $60,000 Public Records
• 1987-05-11 Sold (Public Records) $34,000 Public Records
• 1980-06-18 Sold (Public Records) $40,500 Public Records

Property tax history

+2.0%/yr

Latest (2025): $2,237 · -10.1% YoY. Source: county tax records.