7614 NE Bothell Way #11 · Kenmore, WA 98028

$114,900

2 bd · 1.0 ba · 672 sqft · Manufactured · 19 Days on market

Built 1981 Good condition

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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 +6.7/10.0
• Livability +4.3/5.0
• Condition / age +4.0/5.0
• Rent growth +3.0/5.0
• Appreciation +0.0/10.0

Listing remarks

Don’t Miss This Deal! Updated 2 bed, 1 bath home in Kenmore Village park with no age restriction and LOW $725/month space rent. Enjoy a fully updated kitchen, new washer and dryer, and fresh interior paint. Roof has been recently updated to durable composition. Relax on the spacious front deck or in the fully fenced front yard. Two sheds in the back provide ample storage. Quiet location in the heart of Kenmore; just minutes from freeways, schools, Lake Washington, and all amenities. A perfect blend of comfort, convenience, and affordability! Subject to park approval.

Key facts

• 2 parking spots
• Built 1981
• Listed 19 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $115k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $874 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $115k).
• Recommended offer: $113k (1.5% below list) — sets the bar for market timing.
• Cap rate 16.1% vs local median 1.6% in Kenmore — 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 86/100 on livability (#21 in WA, #427 nationally) — a professional / high-income tenant draw. Strengths: crime A+, amenities A+, commute A+; Watch: cost of living F.
• Northshore School District (suburban): math 69% / reading 78% proficiency, ranked #9 of 291 in WA (top 3%) — strong family-tenant draw, lease renewals of 3-5y typical; only 12% free/reduced lunch — higher-income household profile.
• Zoned schools: Kenmore Elementary (424 students, 44% FRL); Inglemoor Hs (1,542 students, 20% FRL) — zoned schools average 32% FRL vs 12% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+2.1%/yr); 190 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals leasing fast (median 3d 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 $794 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 + 2.1% rent growth), your $32k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 19 days — a 2% lower offer ($113k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 25y 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 $15k; list at $115k implies a 679% gain — meaningful room to come down on a strong offer.

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 $113,176 (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. 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?
4. 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.
5. 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.
6. 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: 1.91% ✓
• Cap rate: 16.12%
• Cash-on-cash: 35.09%
• DSCR: 2.56
• GRM: 4.4

CMA / ARV

• ARV (on-the-fly): $42,336
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7614 NE Bothell Way #11	0.00mi	2/1.0	672 (0%)	1mo	$109,000	$162	99
7301 NE 175th St #114	0.30mi	2/1.0	720 (+7%)	3mo	$45,000	$63	71
7301 NE 175th St #321	0.28mi	2/1.0	720 (+7%)	14mo	$99,999	$139	64
7301 NE 175th St #324	0.26mi	1/1.0 (-1)	625 (-7%)	16mo	$27,000	$43	58
7301 NE 175th St #207	0.28mi	1/1.0 (-1)	576 (-14%)	20mo	$25,000	$43	42

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 · 2.09% rent growth · sell at horizon

5-year hold

• IRR: 26.7%
• Equity multiple: 2.09×
• Total profit: $35,150
• Equity at exit: $17,132

10-year hold

• IRR: 33.7%
• Equity multiple: 3.94×
• Total profit: $94,587
• Equity at exit: $9,934

Cash invested: $32,172 (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 98028

• Rents YoY: 2.1%
• Active inventory: 190
• Price-to-rent: 4.4×

Monthly cashflow live

• Estimated rent: $2,196 high
• Mortgage (P&I): −$603
• Tax est. 1.5%: −$144 /mo · $1,724/yr
• Insurance: −$48
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$461
• Net cashflow: $874

Break-even live

Break-even rent $1,089

Max offer price $114,900

Occupancy floor 55%

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: $28,725
• Closing costs: $3,447
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7711 NE 175th St Kenmore, WA	1.0	1.0	709	$1,874	$2.64	3d	1	0.18mi
17525 80th Ave NE Kenmore, WA	1.0–2.0	1.0–2.0	900	$1,999	$2.22	5d	4	0.25mi
18235 73rd Ave NE Kenmore, WA	1.0–2.0	1.0	787	$1,850	$2.35	5d	4	0.35mi
18249 73rd Ave NE Kenmore, WA	1.0–2.0	1.0–2.0	827	$2,400	$2.90	10d	7	0.36mi
17512 83rd Pl NE Kenmore, WA	1.0–2.0	1.0–2.0	850	$2,250	$2.65	2d	4	0.54mi
18151 68th Ave NE Kenmore, WA	1.0	1.0	720	$2,196	$3.05	5d	4	0.55mi
6711 NE 182nd St Kenmore, WA	1.0–2.0	1.0–2.0	899	$2,644	$2.94	3d	10	0.59mi
18930 68th Ave NE Kenmore, WA	1.0–2.0	1.0–2.0	799	$2,497	$3.13	2d	6	0.70mi
17725 Hall Rd Bothell, WA	1.0–2.0	1.0	772	$1,950	$2.52	3d	1	1.16mi
9517 NE 180th St Unit B106 Bothell, WA	1.0	1.0	730	$2,200	$3.01	20d	1	1.21mi
9517 NE 180th St Bothell, WA	1.0	1.0	730	$1,900	$2.60	24d	2	1.21mi
9525 NE 180th St Unit 306 Bothell, WA	1.0	1.0	740	$1,900	$2.57	3d	1	1.22mi
18209 96th Ave NE Bothell, WA	1.0	1.0	600	$1,850	$3.08	44d	1	1.23mi
18305 96th Ave NE Bothell, WA	2.0	1.0	670	$2,300	$3.43	15d	2	1.23mi
9634 Thorsk St Bothell, WA	1.0	1.0	661	$2,035	$3.08	2d	5	1.33mi
18307 98th Ave NE Bothell, WA	1.0–2.0	1.0–2.0	769	$2,760	$3.59	2d	4	1.37mi
9611 NE 191st St Bothell, WA	1.0	1.0	687	$1,979	$2.88	2d	5	1.37mi
9808 NE 188th St Unit 6 Bothell, WA	1.0	1.0	500	$1,645	$3.29	44d	1	1.44mi
9924 NE 185th St Bothell, WA	1.0–3.0	1.0–2.0	1194	$2,952	$2.47	2d	7	1.44mi
18141 Bothell Way NE Bothell, WA	1.0–2.0	1.0–2.0	909	$4,434	$4.88	3d	24	1.45mi
18333 Bothell Way NE Bothell, WA	1.0	1.0	802	$2,159	$2.69	3d	9	1.46mi
19306 Bothell Way NE Bothell, WA	1.0	1.0	685	$1,775	$2.59	17d	2	1.50mi

Listing history 4 events

1. 2026-04-18
   status Pending
2. 2026-03-30
   listed $114,900 Active
3. 2001-06-01
   soldstatus $14,750
4. 2001-03-02
   listed $15,900

ⓘ 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 10/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥86°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 6/10 Major 9 unhealthy d/yr today · 9 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,352
• − Mortgage interest: −$6,436
• − Property taxes: −$1,724
• − Insurance: −$1,372
• − Repairs & maintenance: −$2,108
• − Management: −$2,108
• − Depreciation: −$3,343
• Taxable income: $9,262
• Est. tax owed @ 24.0%: −$2,223
• After-tax cash flow: $8,269/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 updated 2-bedroom, 1-bathroom home in Kenmore Village park is move-in ready with a fresh interior, updated kitchen, and new appliances. The property offers a fully fenced front yard and ample storage in two sheds, making it a perfect blend of comfort, convenience, and affordability.

Value-add opportunities

• Both landscaping — enhances curb appeal and adds value
• Both paint exterior — improves curb appeal and adds value
• Both replace deck railings — safeguards investment and enhances curb appeal

Renovation cost estimate screening

Value-add ROI direction

• Both landscaping — enhances curb appeal and adds value ↑
• Both paint exterior — improves curb appeal and adds value ↑
• Both replace deck railings — safeguards investment and enhances curb 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: Northshore School District
• NCES district ID: 5305910
• Math proficiency: 69% ▼ -3.00%
• Reading proficiency: 78% ▼ -1.00%
• Median HH income: $92,951
• Composite: 67.41/100
• National rank: #826
• State rank: #9 of 291 in WA

Livability — Kenmore

• Score: 86/100
• State rank: #21
• US rank: #427

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Kenmore, WA
• County: King County · 2,251,916 people
• City population: 23,741
• Metro: Seattle-Tacoma-Bellevue, WA
• Population (ZIP): 23,741
• Household income: $139,764
• Rent vs Own: 30.7% rent · 69.3% own
• Severe rent burden: 557.0

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 0.55)
• Race & ethnicity: White 64% Asian 15% Hispanic / Latino 11% Two or more races 10% Black 3%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Portuguese 5% Italian 4% Slovak 2%
• Foreign-born: 22% · Canada, China, South Korea
• Languages at home: 73% English-only · Spanish 7% Chinese 5% Other Indo-European 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: ▼ -907.61%
• Current HPI: 392.3867
• Rent YoY: ▲ 2.09%
• 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

+622.6% since first listed

4 events — show timeline

• 2026-04-18 Pending — NWMLS as Distributed by MLS Grid
• 2026-03-30 Listed $114,900 NWMLS as Distributed by MLS Grid
• 2001-06-01 Sold (MLS) $14,750 NWMLS as Distributed by MLS Grid
• 2001-03-02 Listed $15,900 NWMLS as Distributed by MLS Grid