497 Willow Dr #125 · Enumclaw, WA 98022

$189,000

3 bd · 2.0 ba · 1,155 sqft · Manufactured · 17 Days on market

Built 1995 Good condition Est $140k · 35% over

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Why this score? — see what drove the C- 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 +23.6/30.0
• DSCR +7.6/10.0
• 1% rule +6.1/10.0
• Schools +5.5/10.0
• Livability +4.4/5.0
• Condition / age +4.0/5.0
• Rent growth +3.6/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Very Affordable 3 Bedroom 2 Bath Fleetwood Model Home. Totally Updated and Move in Turnkey Ready with Covered Front and Back Porches. Open Bright Kitchen with New White Cabinets, Counter Tops, Walk In Pantry, New Brushed Stainless-Steel Appliances. All New LED Lighting, Window Trim, Floor Trim, Blinds, Matte Black Hardware, Vinyl Plank Flooring & New Carpeting Through Out. Huge Living Room & Dining Area. Cathedral Ceilings Throughout. Spacious Primary Master Bedroom with Walk in Closet. Primary Master Bath with Tub Shower, New Vanity, Sink, Faucet, Countertop and New Lighted Mirror. Second and Third Bedrooms are Good Sized. Nice Main Guest Bathroom with Tub Shower, New Vanity, S

Key facts

• Fleetwood model home
• New led lighting
• Open bright kitchen

Tags

• FLEETWOOD MODEL HOME
• COVERED FRONT AND BACK PORCHES
• OPEN BRIGHT KITCHEN
• WALK IN PANTRY
• NEW APPLIANCES
• NEW LED LIGHTING

Property features AI

Finance

• Other: Paved lot; Double pane windows (energy efficient)
• Financial info: Land lease amount $1,075; Listing terms: Cash, Conventional
• HOA & community: Located in Mountain Meadows Community LLC mobile home park; Park approved for sale; Park amenities: clubhouse, common area, high-speed internet available, playground, RV parking, trails; Approximately 190 homes in the park; Pets allowed (cats and dogs); Land lease

Exterior

• Parking: Carport
• Utilities: Electric energy source; Public water (paid by the park); Public sewer (paid by the park); Puget Sound Energy for power (paid by homeowner); Electric water heater in closet; Xfinity basic cable (paid by the park); Xfinity internet (paid by homeowner)
• Home design: Manufactured double-wide home (Fleetwood); Updated/remodeled condition; One level; Has view; Skirted with wood
• Construction: Metal/vinyl and wood construction; Composition roof; Pillar/post/pier foundation with tie downs; Manufactured after 6/15/1976
• Exterior features: Patio/porch/deck; Landscaped; Metal/vinyl and wood exterior

Interior

• Kitchen: Dishwasher; Stove/Range; Refrigerator
• Bedrooms: 3 bedrooms
• Flooring: Vinyl plank; Carpet
• Bathrooms: 2 full bathrooms; 2 bathtubs; 2 showers
• Heating & cooling: Forced air heating
• Interior features: Water heater; Vaulted ceilings; Bath off primary
• Laundry & utility: Washer; Dryer; Utility room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $189k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $288 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $189k).
• Recommended offer: $186k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.5% 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: Southwood Elementary School (345 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; 13 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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 17 days — a 2% lower offer ($186k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $186,165 (1.5% below list)

Questions for the listing agent

1. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.11% ✓
• Cap rate: 8.55%
• Cash-on-cash: 8.05%
• DSCR: 1.36
• GRM: 7.5

CMA / ARV

• ARV (on-the-fly): $139,755
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
201 Grand Fir Dr	0.17mi	3/2.0	1,188 (+3%)	14mo	$144,000	$121	76
300 Grand Fir Dr	0.13mi	3/2.0	1,120 (-3%)	20mo	$189,999	$170	72
2150 Oak Ave	0.24mi	3/2.0	1,064 (-8%)	9mo	$150,000	$141	68
1321 Spruce Dr	0.13mi	2/2.0 (-1)	1,200 (+4%)	20mo	$124,900	$104	66
1106 Mountian Villa Loop	0.19mi	2/2.0 (-1)	1,248 (+8%)	10mo	$90,000	$72	65
206 Noble Fir Cir	0.22mi	2/2.0 (-1)	1,248 (+8%)	11mo	$70,000	$56	62
926 Pine Dr	0.28mi	2/2.0 (-1)	1,248 (+8%)	9mo	$119,500	$96	61
943 Pine Dr	0.29mi	3/2.0	1,244 (+8%)	16mo	$210,000	$169	61
836 Pine Dr	0.32mi	2/2.0 (-1)	1,263 (+9%)	21mo	$200,000	$158	47

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: -4.7%
• Equity multiple: 0.82×
• Total profit: $-9,357
• Equity at exit: $28,181

10-year hold

• IRR: 6.6%
• Equity multiple: 1.52×
• Total profit: $27,724
• Equity at exit: $16,341

Cash invested: $52,920 (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: 7.5×

Monthly cashflow live

• Estimated rent: $2,103 high
• Mortgage (P&I): −$991
• Tax est. 1.5%: −$236 /mo · $2,835/yr
• Insurance: −$79
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$442
• Net cashflow: $288

Break-even live

Break-even rent $1,737

Max offer price $189,000

Occupancy floor 81%

Sensitivity live

Price	-10% $419	-5% $354	+0% $288	+5% $223	+10% $158
Rent	-10% $122	-5% $205	+0% $288	+5% $371	+10% $454
Rate	-1.0pp $384	-0.5pp $336	base $288	+0.5pp $239	+1.0pp $190

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: $47,250
• Closing costs: $5,670
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
141 Leos Pl Enumclaw, WA	2.0	1.0	850	$1,850	$2.18	44d	1	0.08mi
141 Leos Pl Enumclaw, WA	2.0	1.0	850	$1,825	$2.15	25d	1	0.08mi
653 Myrtine St Unit A Enumclaw, WA	2.0	1.0	850	$1,895	$2.23	22d	1	0.15mi
312 Charwila Ln Enumclaw, WA	2.0	1.0	894	$1,750	$1.96	13d	1	0.41mi
250 Charwila Ln Enumclaw, WA	2.0	1.0	894	$1,750	$1.96	3d	1	0.41mi
2630 Warner Ave Enumclaw, WA	1.0–2.0	1.0	762	$2,000	$2.62	0d	1	0.49mi
847 Blake St Enumclaw, WA	3.0	1.0	1064	$2,000	$1.88	0d	1	0.52mi
750 Watson St N Enumclaw, WA	1.0–2.0	1.0	771	$1,842	$2.39	0d	6	0.66mi
615 Watson St N Unit 617B Enumclaw, WA	2.0	1.0	960	$1,999	$2.08	0d	1	0.73mi
556 Bondgard Ave E Enumclaw, WA	3.0	2.0	1480	$2,995	$2.02	11d	1	1.01mi
1571 Kibler Ave Enumclaw, WA	3.0	2.0	1200	$2,600	$2.17	15d	1	1.09mi
1571 Kibler Ave Enumclaw, WA	3.0	2.0	1200	$2,600	$2.17	21d	1	1.09mi
320 Chinook Ave Enumclaw, WA	2.0–3.0	1.0–2.0	923	$2,293	$2.48	0d	7	1.21mi

Listing history 10 events

1. 2026-06-21
   days on market $189,000 Active 17 DOM
2. 2026-06-18
   days on market $189,000 Active 14 DOM
3. 2026-06-17
   days on market $189,000 Active 13 DOM
4. 2026-06-16
   days on market $189,000 Active 12 DOM
5. 2026-06-15
   days on market $189,000 Active 11 DOM
6. 2026-06-13
   days on market $189,000 Active 9 DOM
7. 2026-06-09
   days on market $189,000 Active 5 DOM
8. 2026-06-08
   days on market $189,000 Active 4 DOM
9. 2026-06-07
   remarks 691-char remark
10. 2026-06-07
    listed $189,000 Active 3 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 8/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥87°F today · 16 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: $25,230
• − Mortgage interest: −$10,587
• − Property taxes: −$2,835
• − Insurance: −$1,742
• − Repairs & maintenance: −$2,018
• − Management: −$2,018
• − Depreciation: −$5,498
• Taxable income: $531
• Est. tax owed @ 24.0%: −$127
• After-tax cash flow: $3,333/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

This fully updated and move-in ready manufactured home is in excellent condition with new finishes throughout, making it an attractive option for both buyers and renters.

Value-add opportunities

• Both Painting exterior siding — Enhances curb appeal and can increase both resale and rental value
• Both Landscaping front yard — Improves curb appeal and can increase both resale and rental value

Renovation cost estimate screening

Value-add ROI direction

• Both Painting exterior siding — Enhances curb appeal and can increase both resale and rental value ↑
• Both Landscaping front yard — Improves curb appeal and can increase both resale and rental value ↑

ⓘ 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: 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

• 2026-06-04 Listed $189,000 NWMLS as Distributed by MLS Grid