16405 Maple Valley Hwy #10 · Renton, WA 98058

$99,900

2 bd · 1.0 ba · 784 sqft · Manufactured · 80 Days on market

Built 1985 Good condition $127/sqft · 72% below area ↓ 13% 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 +4.7/10.0
• Livability +4.2/5.0
• Condition / age +4.0/5.0
• Rent growth +3.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Discover comfort and value in this well-maintained manufactured home in the Renton/Maple Valley area. The home features an open-concept layout with a functional kitchen, interior and exterior paint, LVP flooring throughout, and a mini-split system mini-split system providing efficient cooling. Offering 2 bedrooms and 1 bathroom, the layout is practical and comfortable for everyday living. A standout feature is the detached shed, improved with a newer roof, siding, fresh paint inside and out, electricity, and carpet—ideal for an office, storage, a workshop. Outdoor spaces include a patio finished with ornamental stone and a deck with a roof, creating a great area to relax or entertain.

Key facts

• Functional kitchen
• Newer roof
• Deck with a roof

Tags

• OPEN-CONCEPT LAYOUT
• FUNCTIONAL KITCHEN
• DETACHED SHED
• NEWER ROOF
• ORNAMENTAL STONE PATIO
• DECK WITH A ROOF

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $100k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $972 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Recommended offer: $94k (6.0% below list) — sets the bar for market timing.
• Cap rate 18.0% 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; 2 comparable units currently listed for rent nearby; 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 $691 of loan paydown is wiped out by about $3k 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 $28k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 80 days — a 6% lower offer ($94k) is reasonable based on typical stale-listing flexibility.

Recommended offer $93,906 (6.0% below list)

Questions for the listing agent

1. It's been on market 80 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 2.11% ✓
• Cap rate: 17.97%
• Cash-on-cash: 41.71%
• DSCR: 2.86
• GRM: 4.0

CMA / ARV

• ARV (median comp): $357,379
• List price: $99,900
• Delta: -72.05%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 4.19% rent growth · sell at horizon

5-year hold

• IRR: 39.7%
• Equity multiple: 2.73×
• Total profit: $48,321
• Equity at exit: $14,895

10-year hold

• IRR: 46.6%
• Equity multiple: 5.74×
• Total profit: $132,669
• Equity at exit: $8,638

Cash invested: $27,972 (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: 4.0×

Monthly cashflow live

• Estimated rent: $2,105 medium
• Mortgage (P&I): −$524
• Tax est. 1.5%: −$125 /mo · $1,498/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$442
• Net cashflow: $972

Break-even live

Break-even rent $874

Max offer price $99,900

Occupancy floor 49%

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
15300 SE 155th Pl Renton, WA	1.0–2.0	1.0–2.0	943	$2,195	$2.33	4d	2	0.67mi
17537 151st Ave SE Renton, WA	1.0	1.0	740	$1,570	$2.12	15d	1	1.50mi

Listing history 16 events

1. 2026-06-18
   days on market $99,900 Active 80 DOM
2. 2026-06-17
   days on market $99,900 Active 79 DOM
3. 2026-06-16
   days on market $99,900 Active 78 DOM
4. 2026-06-15
   days on market $99,900 Active 77 DOM
5. 2026-06-13
   days on market $99,900 Active 75 DOM
6. 2026-06-13
   days on market $99,900 Active 74 DOM
7. 2026-06-09
   days on market $99,900 Active 71 DOM
8. 2026-06-08
   days on market $99,900 Active 70 DOM
9. 2026-06-07
   days on market $99,900 Active 69 DOM
10. 2026-06-04
    days on market $99,900 Active 66 DOM
11. 2026-06-03
    days on market $99,900 Active 65 DOM
12. 2026-06-02
    days on market $99,900 Active 64 DOM
13. 2026-06-01
    days on market $99,900 Active 63 DOM
14. 2026-05-31
    days on market $99,900 Active 62 DOM
15. 2026-04-28
    price $99,900
16. 2026-03-30
    listed $115,000 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 7 d/yr ≥87°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 7/10 Severe 10 unhealthy d/yr today · 13 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,256
• − Mortgage interest: −$5,596
• − Property taxes: −$1,498
• − Insurance: −$500
• − Repairs & maintenance: −$2,021
• − Management: −$2,021
• − Depreciation: −$2,906
• Taxable income: $10,715
• Est. tax owed @ 24.0%: −$2,572
• After-tax cash flow: $9,096/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 well-maintained manufactured home in Renton/Maple Valley offers a good condition with modern updates and a functional layout. It's ready for a new owner to move in and enjoy.

Value-add opportunities

• Resale update appliances — modern appliances can attract more buyers
• Resale paint exterior — fresh paint can improve curb appeal
• Both landscape front yard — improved landscaping can increase both resale and rental value

Renovation cost estimate screening

Value-add ROI direction

• Resale update appliances — modern appliances can attract more buyers ↑
• Resale paint exterior — fresh paint can improve curb appeal ↑
• Both landscape front yard — improved landscaping 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: 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

-13.1% since first listed

2 events — show timeline

• 2026-04-28 Price Changed $99,900 NWMLS as Distributed by MLS Grid
• 2026-03-30 Listed $115,000 NWMLS as Distributed by MLS Grid