15256 Pine Dr · Renton, WA 98058

$148,000

2 bd · 2.0 ba · 880 sqft · Manufactured · 60 Days on market

Built 2017 Good condition $168/sqft · 8% below area Est $160k · 8% under

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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
• ARV discount +10.9/15.0
• DSCR +10.0/10.0
• 1% rule +9.4/10.0
• Schools +4.7/10.0
• Livability +4.2/5.0
• Condition / age +3.8/5.0
• Rent growth +3.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Built in 2017 and lovingly maintained, this light-filled home is move-in ready and full of thoughtful touches. With 2 bedrooms and 2 full baths, custom built-ins throughout, and a well-designed primary closet, everything has its place. The second bedroom doubles as a guest room or home office, whatever fits your life. Step outside to your private deck with yard space and a storage shed out back. Located in a 55+ community; park approval required.

Key facts

• Private deck
• Primary closet
• Custom built-ins

Tags

• CUSTOM BUILT-INS
• PRIMARY CLOSET
• PRIVATE DECK
• YARD SPACE
• STORAGE SHED

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $148k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $655 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $148k).
• Recommended offer: $144k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.6% vs local median 2.3% in Renton — 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 83/100 on livability (#52 in WA, #949 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, employment A+; Watch: crime D-, cost of living F.
• Renton School District (urban): math 47% / reading 55% proficiency, ranked #119 of 291 in WA (top 41%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+4.2%/yr); 187 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 4d 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 $4k 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 + 4.2% rent growth), your $41k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 60 days — a 3% lower offer ($144k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 6y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $123k; 20% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $143,560 (3.0% below list)

Questions for the listing agent

1. It's been on market 60 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are B-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?
4. Crime grade is D 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?
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: 1.44% ✓
• Cap rate: 11.61%
• Cash-on-cash: 18.98%
• DSCR: 1.84
• GRM: 5.8

CMA / ARV

• ARV (median comp): $160,231
• List price: $148,000
• Delta: -7.63%
• Verdict: FAIR
• Comps: 3 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
15268 Maple Dr Unit M68	0.04mi	2/1.0	840 (-4%)	2mo	$115,000	$137	85
15251 Maple Dr	0.03mi	2/2.0	896 (+2%)	24mo	$120,000	$134	76
15291 Maple Dr Unit m-91	0.08mi	3/2.0 (+1)	924 (+5%)	20mo	$99,000	$107	66
15268 Pine Dr	0.03mi	2/1.0	784 (-11%)	19mo	$78,000	$99	61
15032 156th Pl SE	0.58mi	2/2.0	960 (+9%)	18mo	$443,000	$461	43

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 · 4.19% rent growth · sell at horizon

5-year hold

• IRR: 12.2%
• Equity multiple: 1.49×
• Total profit: $20,370
• Equity at exit: $22,067

10-year hold

• IRR: 22.1%
• Equity multiple: 2.99×
• Total profit: $82,443
• Equity at exit: $12,796

Cash invested: $41,440 (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 98058

• Rents YoY: 4.2%
• Active inventory: 187
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $2,124 high
• Mortgage (P&I): −$776
• Tax est. 1.5%: −$185 /mo · $2,220/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$446
• Net cashflow: $655

Break-even live

Break-even rent $1,295

Max offer price $148,000

Occupancy floor 64%

Sensitivity live

Price	-10% $758	-5% $707	+0% $655	+5% $604	+10% $553
Rent	-10% $488	-5% $572	+0% $655	+5% $739	+10% $823
Rate	-1.0pp $730	-0.5pp $693	base $655	+0.5pp $617	+1.0pp $578

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: $37,000
• Closing costs: $4,440
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
15300 SE 155th Pl Renton, WA	2.0–3.0	2.0	1069	$2,250	$2.10	0d	3	0.33mi
15205 140th Way SE Renton, WA	1.0–3.0	1.0–2.0	1121	$2,918	$2.60	0d	10	0.73mi
14600 SE 176th St Unit L4 Renton, WA	2.0	1.0	787	$1,995	$2.53	44d	1	1.33mi
14600 SE 176th St Unit K5 Renton, WA	1.0	1.0	600	$1,445	$2.41	3d	1	1.34mi
17536 149th Ave SE Unit O6 Renton, WA	1.0	1.0	588	$1,625	$2.76	15d	1	1.35mi
17537 151st Ave SE Renton, WA	1.0	1.0	740	$1,570	$2.12	15d	1	1.38mi
11002 SE 176th St Renton, WA	1.0	1.0	692	$1,350	$1.95	3d	1	1.41mi

Listing history 17 events

1. 2026-06-17
   status $148,000 Pending 60 DOM
2. 2026-06-16
   days on market $148,000 Active 60 DOM
3. 2026-06-15
   days on market $148,000 Active 59 DOM
4. 2026-06-13
   days on market $148,000 Active 57 DOM
5. 2026-06-13
   days on market $148,000 Active 56 DOM
6. 2026-06-09
   days on market $148,000 Active 53 DOM
7. 2026-06-08
   days on market $148,000 Active 52 DOM
8. 2026-06-07
   days on market $148,000 Active 51 DOM
9. 2026-06-04
   days on market $148,000 Active 48 DOM
10. 2026-06-03
    days on market $148,000 Active 47 DOM
11. 2026-06-02
    days on market $148,000 Active 46 DOM
12. 2026-06-01
    days on market $148,000 Active 45 DOM
13. 2026-05-31
    days on market $148,000 Active 44 DOM
14. 2026-04-17
    listed $148,000 Active
15. 2020-09-22
    soldstatus $123,200 Sold
16. 2020-09-11
    status Pending
17. 2020-08-22
    listed $129,900 Active

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

Taxation est. · year 1

• Rental income: $25,492
• − Mortgage interest: −$8,290
• − Property taxes: −$2,220
• − Insurance: −$740
• − Repairs & maintenance: −$2,039
• − Management: −$2,039
• − Depreciation: −$4,305
• Taxable income: $5,858
• Est. tax owed @ 24.0%: −$1,406
• After-tax cash flow: $6,460/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 · 13 photos

Good 75/100 Cosmetic rehab

This move-in ready manufactured home is in good condition with modern amenities and a well-maintained exterior. Upgrades to the exterior and air conditioning units would significantly increase its value.

Value-add opportunities

• Both painting the exterior siding — enhances curb appeal and value
• Both upgrading the air conditioning units — improves comfort and energy efficiency
• Both replacing the carpet with hardwood flooring — increases resale value and rental appeal

Renovation cost estimate screening

Value-add ROI direction

• Both painting the exterior siding — enhances curb appeal and value ↑
• Both upgrading the air conditioning units — improves comfort and energy efficiency ↑
• Both replacing the carpet with hardwood flooring — increases resale value and rental appeal ↑

ⓘ 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: Renton School District
• NCES district ID: 5307230
• Math proficiency: 47% ▼ -1.00%
• Reading proficiency: 55% ▼ -1.00%
• Median HH income: $66,354
• Composite: 47.13/100
• National rank: #5108
• State rank: #119 of 291 in WA

Livability — Renton

• Score: 83/100
• State rank: #52
• US rank: #949

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Renton, WA
• County: King County · 2,251,916 people
• City population: 158,600
• Metro: Seattle-Tacoma-Bellevue, WA
• Population (ZIP): 42,980
• Household income: $115,201
• Rent vs Own: 27.5% rent · 72.5% own
• Severe rent burden: 812.0

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 0.68)
• Race & ethnicity: White 52% Asian 16% Two or more races 15% Hispanic / Latino 13% Black 8%
• Hispanic origin (detail): Mexican 8% Puerto Rican 1%
• Common ancestry: Italian 4% Portuguese 4% Lithuanian 3%
• Foreign-born: 21% · Canada, Vietnam, China
• Languages at home: 73% English-only · Spanish 8% Russian/Polish/Slavic 3% Chinese 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: ▼ -798.11%
• Current HPI: 321.3895
• Rent YoY: ▲ 4.19%
• 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

+13.9% since first listed

4 events — show timeline

• 2026-04-17 Listed $148,000 NWMLS as Distributed by MLS Grid
• 2020-09-22 Sold (MLS) $123,200 NWMLS as Distributed by MLS Grid
• 2020-09-11 Pending — NWMLS as Distributed by MLS Grid
• 2020-08-22 Listed $129,900 NWMLS as Distributed by MLS Grid