3611 I St NE #109 · Auburn, WA 98003

$179,000

2 bd · 2.0 ba · 1,440 sqft · Manufactured · 58 Days on market

Built 1978 Good condition Est $153k · 17% 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 +23.2/30.0
• DSCR +7.5/10.0
• 1% rule +6.0/10.0
• Schools +4.7/10.0
• Livability +4.0/5.0
• Condition / age +3.8/5.0
• Rent growth +3.1/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Wow! Wonderfully Updated Home in Desirable 55+ Community – The River Estates From the inviting covered front porch to the covered carport and private rear patio, this beautifully maintained home has it all! Featuring 2 spacious bedrooms and 2 remodeled bathrooms, this open and bright floor plan offers cathedral ceilings, natural light, and comfortable living throughout. The oversized kitchen features extensive counter space, custom glass tile backsplash, cozy sitting area, and abundant cabinetry and storage. Updates include newer wood laminate flooring, new heat pump with A/C and furnace, all new double-pane windows, new dishwasher, and newer washer and dryer — all staying wi

Key facts

• Open floor plan
• New heat pump
• New furnace

Tags

• OPEN FLOOR PLAN
• NEWER FLOORING
• NEW HEAT PUMP
• NEW FURNACE
• NEW DOUBLE PANE WINDOWS
• BOTH BATHROOMS REMODELED

Property features AI

Finance

• Other: Buyer brokerage compensation: 3%
• Financial info: Land lease: $920; Listing terms: Cash, Conventional
• HOA & community: Park approved for sale; River Mobile Estates with 304 homes; Community amenities: BBQs, clubhouse, common area, laundry, pool, recreational area, spa/hot tub; Senior community (see park rules for details); Pets allowed — see remarks

Exterior

• Parking: Carport
• Utilities: Public water (Comcast listed for water company); Sewer service included; Power by PSE; Cable connected (Comcast); Internet connected (Comcast); Energy sources: Electric and Wood
• Home design: Manufactured home (double wide); One level; East-facing; Updated / remodeled; Vaulted ceilings
• Construction: Metal/vinyl construction; Composition roof; Pillar/post/pier foundation; Manufactured after 06/15/1976 (Golden West Vila 60/24 model)
• Exterior features: Metal/vinyl exterior; Patio/porch/deck; Awnings; Covered carport storage; Large shop/shed; Dead-end street; Paved access; On waterfront / community waterfront access; Spa/Hot Tub (community)

Interior

• Kitchen: Dishwasher; Refrigerator; Stove/Range
• Bedrooms: 2 bedrooms
• Flooring: Ceramic tile; Laminate
• Bathrooms: 2 full bathrooms; 2 bathtubs; 2 showers
• Heating & cooling: Forced air heating; Heat pump; Stove / free standing heating; Central air conditioning
• Interior features: Fireplace (wood burning); Water heater; Vaulted ceilings; Drapes; Landscaped
• Laundry & utility: Washer; Dryer; Utility room with electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $179k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $173 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $179k).
• Recommended offer: $174k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.5% vs local median 2.7% in Auburn — 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 81/100 on livability (#75 in WA, #1,371 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, employment A+; Watch: crime F, cost of living F.
• Auburn School District (urban): math 47% / reading 56% proficiency, ranked #125 of 291 in WA (top 43%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+2.3%/yr); 233 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals leasing fast (median 6d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 10,555 units permitted in King County in 2024 (7,119 in 5+ unit buildings).
• This rent runs 31% of the median local income ($75k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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 58 days — a 3% lower offer ($174k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 9y 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 $45k; list at $179k implies a 298% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $152/mo.
• Climate carrying-cost: in FEMA flood zone AH (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $173,630 (3.0% below list)

Questions for the listing agent

1. It's been on market 58 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 1.10% ✓
• Cap rate: 8.47%
• Cash-on-cash: 7.77%
• DSCR: 1.35
• GRM: 7.5

CMA / ARV

• ARV (on-the-fly): $152,640
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3611 I St NE #162	0.05mi	3/2.0 (+1)	1,456 (+1%)	4mo	$148,000	$102	88
3611 I St NE #291	0.00mi	2/2.0	1,380 (-4%)	8mo	$175,000	$127	86
3611 I St NE #180	0.00mi	3/2.0 (+1)	1,440 (0%)	12mo	$220,000	$153	85
3611 I St NE #72	0.05mi	3/2.0 (+1)	1,500 (+4%)	2mo	$85,000	$57	84
3611 I St NE #16	0.20mi	3/2.0 (+1)	1,456 (+1%)	1mo	$155,000	$106	83
3611 I St #39	0.20mi	2/2.0	1,536 (+7%)	0mo	$30,000	$20	79
3611 I St NE #237	0.20mi	2/2.0	1,536 (+7%)	1mo	$140,300	$91	79
3611 I St NE #218	0.20mi	2/2.0	1,488 (+3%)	15mo	$55,000	$37	73
3611 I St NE #91	0.00mi	2/1.5	1,232 (-14%)	3mo	$138,000	$112	72
3611 I St NE #26	0.20mi	2/2.0	1,344 (-7%)	12mo	$175,000	$130	69
3611 I St NE #304	0.20mi	2/2.0	1,344 (-7%)	12mo	$122,000	$91	69
3611 I St NE #247	0.20mi	2/2.0	1,560 (+8%)	14mo	$167,500	$107	65

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 · 2.33% rent growth · sell at horizon

5-year hold

• IRR: -10.6%
• Equity multiple: 0.62×
• Total profit: $-19,211
• Equity at exit: $26,689

10-year hold

• IRR: -2.3%
• Equity multiple: 0.85×
• Total profit: $-7,428
• Equity at exit: $15,477

Cash invested: $50,120 (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 98003

• Rents YoY: 2.3%
• Active inventory: 233
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $1,977 high
• Mortgage (P&I): −$939
• Tax est. 1.5%: −$224 /mo · $2,685/yr
• Insurance: −$75
• Flood insurance flood zone: −$152 /mo · $1,824/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$415
• Net cashflow: $173

Break-even live

Break-even rent $1,758

Max offer price $179,000

Occupancy floor 86%

Sensitivity live

Price	-10% $296	-5% $234	+0% $173	+5% $111	+10% $49
Rent	-10% $16	-5% $95	+0% $173	+5% $251	+10% $329
Rate	-1.0pp $263	-0.5pp $218	base $173	+0.5pp $126	+1.0pp $79

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: $44,750
• Closing costs: $5,370
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
802 45th St NE Auburn, WA	1.0–3.0	1.0–2.0	934	$1,999	$2.14	0d	11	0.60mi
902 28th St NE Unit 902 Auburn, WA	2.0	1.5	938	$1,699	$1.81	0d	1	0.63mi
987 26th Pl NE Auburn, WA	2.0	1.5	939	$1,795	$1.91	25d	1	0.65mi
2602 J St NE Auburn, WA	2.0	1.0	897	$1,972	$2.20	4d	10	0.67mi
2556 M Pl NE Unit 2556MPC Auburn, WA	2.0	1.0	1000	$1,895	$1.90	21d	1	0.69mi
2545 M Pl NE Unit 2545MPC Auburn, WA	2.0	1.0	1000	$1,895	$1.90	25d	1	0.70mi
2502 M St NE Unit 2502MA Auburn, WA	2.0	1.0	910	$2,050	$2.25	4d	1	0.74mi
4750 Auburn Way N Auburn, WA	1.0–4.0	1.0–2.0	1011	$2,102	$2.08	0d	10	0.79mi
2441 I St NE Auburn, WA	2.0	1.0	910	$1,795	$1.97	16d	1	0.79mi
2414 N St NE Unit C Auburn, WA	3.0	1.0	1271	$1,950	$1.53	25d	1	0.80mi
2409 N St NE Auburn, WA	2.0	1.0	900	$1,950	$2.17	16d	1	0.80mi
2319 L St NE Unit 2319LB Auburn, WA	2.0	1.0	895	$1,995	$2.23	4d	1	0.82mi
2315 L St NE Unit 2315LA Auburn, WA	2.0	1.0	990	$1,995	$2.02	4d	1	0.83mi
2317 I St NE Unit 2319 Auburn, WA	3.0	2.0	1400	$2,275	$1.62	25d	1	0.89mi
2222 L St NE Unit 2222LA Auburn, WA	2.0	1.0	895	$1,995	$2.23	4d	1	0.89mi
1462 51st Pl NE Auburn, WA	3.0	2.5	1539	$2,900	$1.88	3d	1	0.92mi
2212 O St NE Unit D Auburn, WA	3.0	1.0	1000	$1,925	$1.93	23d	1	0.92mi
1741 22nd St NE Auburn, WA	1.0–3.0	1.0–2.0	902	$1,662	$1.84	0d	3	1.00mi
2025 M St NE Unit 2045 Auburn, WA	2.0	1.5	1248	$2,095	$1.68	23d	1	1.01mi
1015 18th St NE Unit 931 935 1001 1007 Auburn, WA	2.0	1.0	900	$1,699	$1.89	25d	1	1.08mi
1413 12th St NE Unit ADU Auburn, WA	3.0	1.0	1000	$2,400	$2.40	6d	1	1.46mi

Listing history 19 events

1. 2026-06-21
   days on market $179,000 Active 58 DOM
2. 2026-06-18
   days on market $179,000 Active 55 DOM
3. 2026-06-17
   days on market $179,000 Active 54 DOM
4. 2026-06-16
   days on market $179,000 Active 53 DOM
5. 2026-06-15
   days on market $179,000 Active 52 DOM
6. 2026-06-13
   days on market $179,000 Active 50 DOM
7. 2026-06-13
   days on market $179,000 Active 49 DOM
8. 2026-06-09
   days on market $179,000 Active 46 DOM
9. 2026-06-08
   days on market $179,000 Active 45 DOM
10. 2026-06-07
    days on market $179,000 Active 44 DOM
11. 2026-06-04
    days on market $179,000 Active 41 DOM
12. 2026-06-03
    days on market $179,000 Active 40 DOM
13. 2026-06-02
    days on market $179,000 Active 39 DOM
14. 2026-06-01
    days on market $179,000 Active 38 DOM
15. 2026-05-31
    days on market $179,000 Active 37 DOM
16. 2026-05-05
    price $179,000
17. 2026-04-01
    listed $182,000 Active
18. 2017-04-11
    soldstatus $45,000
19. 2017-04-11
    listed $45,000

ⓘ 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 5/10 Major FEMA zone AH · 27% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥87°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 7/10 Severe 10 unhealthy d/yr today · 11 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,722
• − Mortgage interest: −$10,027
• − Property taxes: −$2,685
• − Insurance: −$2,720
• − Repairs & maintenance: −$1,898
• − Management: −$1,898
• − Depreciation: −$5,207
• Taxable loss: −$712
• Est. tax savings @ 24.0%: +$171
• After-tax cash flow: $2,243/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 75/100 Cosmetic rehab

This well-maintained, updated manufactured home in a desirable community offers a good investment opportunity with minimal repairs needed.

Value-add opportunities

• Both Paint exterior siding — Enhances curb appeal and value
• Both Replace worn-out doormat — Improves first impression and functionality

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior siding — Enhances curb appeal and value ↑
• Both Replace worn-out doormat — Improves first impression and functionality ↑

ⓘ 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: Auburn School District
• NCES district ID: 5300300
• Math proficiency: 47% ▼ -3.00%
• Reading proficiency: 56% ▼ -1.00%
• Median HH income: $58,048
• Composite: 46.73/100
• National rank: #5240
• State rank: #125 of 291 in WA

Livability — Auburn

• Score: 81/100
• State rank: #75
• US rank: #1371

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Auburn, WA
• County: King County · 2,251,916 people
• City population: 102,067
• Metro: Seattle-Tacoma-Bellevue, WA
• Population (ZIP): 51,619
• Household income: $75,319
• Rent vs Own: 53.1% rent · 46.9% own
• Severe rent burden: 2895.0

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: Highly diverse neighborhood (Simpson 0.79)
• Race & ethnicity: White 32% Hispanic / Latino 23% Black 19% Two or more races 16% Asian 13% Pacific Islander 2%
• Hispanic origin (detail): Mexican 18%
• Common ancestry: Portuguese 3% Lithuanian 2% Swedish 2%
• Foreign-born: 32% · Canada, South Korea, Vietnam
• Languages at home: 57% English-only · Spanish 18% Other Indo-European 3% Russian/Polish/Slavic 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: ▼ -623.87%
• Current HPI: 327.5371
• Rent YoY: ▲ 2.33%
• 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

+297.8% since first listed

4 events — show timeline

• 2026-05-05 Price Changed $179,000 NWMLS as Distributed by MLS Grid
• 2026-04-01 Listed $182,000 NWMLS as Distributed by MLS Grid
• 2017-04-11 Listed $45,000 NWMLS as Distributed by MLS Grid
• 2017-04-11 Sold (MLS) $45,000 NWMLS as Distributed by MLS Grid