3611 I St NE #63 · Auburn, WA 98002

$174,500

3 bd · 2.0 ba · 1,815 sqft · Manufactured · 1 Days on market

Built 1978 Est $182k · at est.

---

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
• DSCR +10.0/10.0
• ARV discount +9.2/15.0
• 1% rule +8.6/10.0
• Schools +4.7/10.0
• Livability +4.0/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Key facts

• 2 parking spots
• Community pool
• Built 1978

Property features AI

Finance

• Other: Bus line nearby
• Financial info: Listing terms: Cash, Conventional
• HOA & community: Located in The River Mobile Estates (park approved for sale); Senior community; Park amenities include clubhouse, common area, laundry, pool, recreational area, RV parking, sauna, spa/hot tub; Approximately 312 homes in the park; Pets allowed: cats and dogs; Land lease: $1,000

Exterior

• Parking: Carport
• Utilities: Public water (in HOA dues); Public sewer (in HOA dues); Electric service by PSE; Energy sources: Electric and wood
• Home design: Manufactured home (double wide); One story; Model: GOLM 66-28; Make: Golden West Mobile; Tie-down foundation
• Construction: Metal/vinyl construction; Composition roof
• Exterior features: Metal/vinyl exterior; Awnings; Landscaped; Patio/porch/deck; Vaulted ceilings; Walk-in closet

Interior

• Kitchen: Dishwasher; Garbage disposal; Microwave; Refrigerator; Stove/Range
• Bedrooms: 3 bedrooms
• Flooring: Ceramic tile; Laminate
• Bathrooms: 1 full bath; 1 three-quarter bath
• Heating & cooling: High-efficiency heating (90%+); Forced air; Heat pump; Central air
• Interior features: Fireplace (wood burning)
• Laundry & utility: Washer; Dryer; Utility room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $174k.

Deal economics

• At list price, monthly cash flow is $513 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $174k).
• Cap rate 10.9% 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 (+1.5%/yr); 171 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 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 36% of the median local income ($79k/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

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 7y 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 $95k; list at $174k implies a 84% 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 $174,500

Questions for the listing agent

1. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 1.36% ✓
• Cap rate: 10.87%
• Cash-on-cash: 16.33%
• DSCR: 1.73
• GRM: 6.1

CMA / ARV

• ARV (on-the-fly): $181,500
• 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 #76	0.00mi	3/2.0	1,900 (+5%)	4mo	$120,000	$63	89
3611 I St NE #184	0.00mi	3/2.0	1,792 (-1%)	15mo	$180,000	$100	85
3611 I St NE #424	0.15mi	2/2.0 (-1)	1,792 (-1%)	2mo	$210,000	$117	84
3611 NE I St #257	0.00mi	3/2.0	1,749 (-4%)	13mo	$132,500	$76	83
3611 I St NE #130	0.00mi	3/2.0	1,820 (+0%)	20mo	$146,000	$80	82
3611 I St NE #302	0.20mi	3/2.0	1,848 (+2%)	12mo	$228,000	$123	78
3611 I St NE #225	0.20mi	3/2.0	1,800 (-1%)	18mo	$170,000	$94	74
3611 I St NE #160	0.33mi	3/2.0	1,848 (+2%)	16mo	$110,000	$60	68
3611 I St NE #10	0.15mi	3/2.0	2,040 (+12%)	7mo	$183,000	$90	66
3611 I St NE #133	0.33mi	3/2.0	1,920 (+6%)	15mo	$233,000	$121	62
3611 I St NE #80	0.00mi	2/2.0 (-1)	1,612 (-11%)	18mo	$189,900	$118	62
3611 I St NE #247	0.00mi	2/2.0 (-1)	1,560 (-14%)	14mo	$167,500	$107	60

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 · 1.51% rent growth · sell at horizon

5-year hold

• IRR: 0.6%
• Equity multiple: 1.02×
• Total profit: $1,027
• Equity at exit: $26,019

10-year hold

• IRR: 8.5%
• Equity multiple: 1.60×
• Total profit: $29,557
• Equity at exit: $15,088

Cash invested: $48,860 (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 98002

• Rents YoY: 1.5%
• Active inventory: 171
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $2,368 high
• Mortgage (P&I): −$915
• Tax est. 1.5%: −$218 /mo · $2,618/yr
• Insurance: −$73
• Flood insurance flood zone: −$152 /mo · $1,824/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$497
• Net cashflow: $513

Break-even live

Break-even rent $1,719

Max offer price $174,500

Occupancy floor 73%

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: $43,625
• Closing costs: $5,235
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4750 Auburn Way N Auburn, WA	1.0–4.0	1.0–2.0	1011	$2,417	$2.39	1d	10	0.70mi
2317 I St NE Unit 2319 Auburn, WA	3.0	2.0	1400	$2,275	$1.62	24d	1	0.84mi
2414 N St NE Unit C Auburn, WA	3.0	1.0	1271	$1,950	$1.53	24d	1	0.86mi
1462 51st Pl NE Auburn, WA	3.0	2.5	1539	$2,900	$1.88	2d	1	0.98mi
2025 M St NE Unit 2045 Auburn, WA	2.0	1.5	1248	$2,095	$1.68	21d	1	1.03mi

Listing history 5 events

1. 2026-04-29
   status Pending
2. 2026-04-29
   listed $174,500 Active
3. 2019-11-25
   soldstatus $95,000 Sold
4. 2019-11-10
   status Pending
5. 2019-10-11
   listed $107,000 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 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: $28,420
• − Mortgage interest: −$9,775
• − Property taxes: −$2,618
• − Insurance: −$2,697
• − Repairs & maintenance: −$2,274
• − Management: −$2,274
• − Depreciation: −$5,076
• Taxable income: $3,707
• Est. tax owed @ 24.0%: −$890
• After-tax cash flow: $5,266/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.

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: 74,969
• Metro: Seattle-Tacoma-Bellevue, WA
• Population (ZIP): 37,509
• Household income: $78,684
• Rent vs Own: 51.1% rent · 48.9% own
• Severe rent burden: 2202.0

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 0.72)
• Race & ethnicity: White 46% Hispanic / Latino 24% Two or more races 13% Black 12% Asian 6% Pacific Islander 4% Native American 2%
• Hispanic origin (detail): Mexican 20%
• Common ancestry: Portuguese 4% Subsaharan African 4% Lithuanian 3%
• Foreign-born: 24% · Canada, Vietnam
• Languages at home: 63% English-only · Spanish 19% Russian/Polish/Slavic 6% Other Asian/Pacific 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: ▼ -677.96%
• Current HPI: 298.0849
• Rent YoY: ▲ 1.51%
• 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

+63.1% since first listed

5 events — show timeline

• 2026-04-29 Pending — NWMLS as Distributed by MLS Grid
• 2026-04-29 Listed $174,500 NWMLS as Distributed by MLS Grid
• 2019-11-25 Sold (MLS) $95,000 NWMLS as Distributed by MLS Grid
• 2019-11-10 Pending — NWMLS as Distributed by MLS Grid
• 2019-10-11 Listed $107,000 NWMLS as Distributed by MLS Grid