707 37th St SE #12 · Auburn, WA 98002

$125,000

2 bd · 2.0 ba · 1,120 sqft · Manufactured · 69 Days on market

Built 1981 Good condition Est $134k · 7% under ↓ 7% 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
• ARV discount +10.6/15.0
• DSCR +10.0/10.0
• 1% rule +9.7/10.0
• Schools +4.7/10.0
• Livability +4.0/5.0
• Condition / age +4.0/5.0
• Rent growth +2.9/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome Home! Step into this beautiful, move-in-ready 2-bedroom, 2-bath home in the all-ages Spaid Unique Manor community. A bonus office with a private entrance makes it ideal for remote work or running a small business. Enjoy the convenience of a three-car, side-by-side carport — no more juggling parking spaces! Perfectly located in Auburn, WA, this home is within walking distance of Gildo Rey Elementary and Mt. Baker Middle School. You’ll love being close to shopping centers, restaurants, and major commuter routes — everything you need is just minutes away. Don’t miss this affordable double-wide home with excellent curb appeal and plenty of outdoor space for ente

Key facts

• Three-car carport
• Private entrance
• 3 parking spots

Tags

• PRIVATE ENTRANCE
• THREE-CAR CARPORT
• WALKING DISTANCE TO SCHOOLS
• CLOSE TO SHOPPING CENTERS
• PLENTY OF OUTDOOR SPACE

Property features AI

Finance

• Other: Property type: Residential, Manufactured Home; Calculated living area: 1120; Lot size units recorded in square feet
• Financial info: Listing terms: Cash or Conventional
• HOA & community: Land lease: $1,139

Exterior

• Parking: Carport
• Utilities: Electric energy source; Public water; Puget Sound Energy power provider
• Home design: Manufactured home (double wide); One level; Faces west
• Construction: Composition roof; Pillar/post/pier foundation; Manufactured house structure
• Exterior features: Clubhouse (manufactured home park amenity)

Interior

• Kitchen: Microwave; Refrigerator; Stove/Range
• Bedrooms: 2 bedrooms
• Flooring: Vinyl plank
• Bathrooms: 1 full bathroom; 1 three-quarter bathroom
• Heating & cooling: Forced air heating
• Interior features: Den/office; Trash compactor
• Laundry & utility: Has heating

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $125k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $589 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Recommended offer: $118k (6.0% below list) — sets the bar for market timing.
• Cap rate 11.9% 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; 17 comparable units currently listed for rent nearby; rentals leasing fast (median 4d 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $864 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 + 1.5% rent growth), your $35k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 69 days — a 6% lower offer ($118k) is reasonable based on typical stale-listing flexibility.

Recommended offer $117,500 (6.0% below list)

Questions for the listing agent

1. It's been on market 69 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. 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: 1.47% ✓
• Cap rate: 11.95%
• Cash-on-cash: 20.19%
• DSCR: 1.90
• GRM: 5.7

CMA / ARV

• ARV (on-the-fly): $134,400
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
607 37th St SE #77	0.16mi	3/2.0 (+1)	1,120 (0%)	4mo	$135,000	$121	84
602 29th St SE #39	0.18mi	3/2.0 (+1)	1,232 (+10%)	6mo	$155,000	$126	65
2902 B St SE	0.47mi	3/2.0 (+1)	1,152 (+3%)	4mo	$312,500	$271	65
602 29th St SE #54	0.24mi	3/2.0 (+1)	1,232 (+10%)	6mo	$55,000	$45	62
3225 M St SE #145	0.17mi	3/2.0 (+1)	1,254 (+12%)	7mo	$105,000	$84	61
800 29 TH St SE Unit G-12	0.30mi	2/1.0	980 (-12%)	0mo	$86,000	$88	61
3225 M St SE #144	0.28mi	3/2.0 (+1)	1,248 (+11%)	3mo	$155,000	$124	61
401 37th St SE #110	0.20mi	3/1.0 (+1)	980 (-12%)	3mo	$127,000	$130	59
210 37th St SE #130	0.40mi	3/2.0 (+1)	1,248 (+11%)	2mo	$150,000	$120	56
900 29th St SE Unit D-11	0.32mi	3/2.0 (+1)	960 (-14%)	3mo	$71,750	$75	54
210 37th St SE #64	0.44mi	2/2.0	960 (-14%)	7mo	$72,000	$75	50
4248 A St SE #205	0.67mi	2/2.0	960 (-14%)	1mo	$85,000	$89	44

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: 10.7%
• Equity multiple: 1.42×
• Total profit: $14,569
• Equity at exit: $18,638

10-year hold

• IRR: 18.5%
• Equity multiple: 2.44×
• Total profit: $50,284
• Equity at exit: $10,808

Cash invested: $35,000 (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: 5.7×

Monthly cashflow live

• Estimated rent: $1,839 high
• Mortgage (P&I): −$656
• Tax est. 1.5%: −$156 /mo · $1,875/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$386
• Net cashflow: $589

Break-even live

Break-even rent $1,093

Max offer price $125,000

Occupancy floor 63%

Sensitivity live

Price	-10% $675	-5% $632	+0% $589	+5% $546	+10% $503
Rent	-10% $444	-5% $516	+0% $589	+5% $662	+10% $734
Rate	-1.0pp $652	-0.5pp $621	base $589	+0.5pp $557	+1.0pp $524

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1014 37th St SE Apt 4 Auburn, WA	2.0	2.0	1005	$1,780	$1.77	5d	1	0.24mi
1120 37th St SE Auburn, WA	2.0	1.0	788	$1,695	$2.15	13d	1	0.27mi
2952 O St SE Unit F Auburn, WA	2.0	1.0	1051	$1,495	$1.42	2d	1	0.49mi
404 27th St SE Unit 19-1 Auburn, WA	2.0	1.0	1000	$1,750	$1.75	13d	1	0.49mi
2952 O St SE Unit D Auburn, WA	2.0	1.0	795	$1,375	$1.73	2d	1	0.49mi
1526 29th St SE Auburn, WA	2.0	1.0	912	$1,595	$1.75	25d	1	0.55mi
2455 F St SE Auburn, WA	1.0–3.0	1.0–2.0	757	$1,678	$2.21	3d	6	0.64mi
4704 Mill Pond Dr SE #213 Auburn, WA	2.0	2.0	1142	$2,750	$2.41	3d	1	0.69mi
732 4th Ave NE Pacific, WA	2.0	1.0	850	$1,805	$2.12	5d	2	0.76mi
703 47th St SE Auburn, WA	2.0	1.0–2.0	781	$1,970	$2.52	2d	7	0.81mi
402 21st St SE Auburn, WA	1.0–2.0	1.0–1.5	747	$1,695	$2.27	15d	4	0.82mi
2020 F St SE Auburn, WA	1.0–2.0	1.0	725	$1,599	$2.21	25d	1	0.88mi
418 17th St SE Unit 6C Auburn, WA	2.0	2.0	1219	$2,200	$1.80	25d	1	1.01mi
345 Pacific Ave N Pacific, WA	1.0–3.0	1.0–2.0	898	$1,950	$2.17	0d	10	1.02mi
1420 17th St SE Auburn, WA	1.0–2.0	1.0	725	$1,695	$2.34	3d	4	1.16mi
102 Hawthorne Ave S Pacific, WA	3.0	1.0	1285	$2,950	$2.30	0d	1	1.31mi
2901 Auburn Way S Auburn, WA	1.0–2.0	1.0	667	$2,175	$3.26	0d	20	1.46mi

Listing history 6 events

1. 2026-06-03
   status $125,000 Pending 69 DOM
2. 2026-06-02
   days on market $125,000 Active 69 DOM
3. 2026-06-01
   days on market $125,000 Active 68 DOM
4. 2026-05-31
   days on market $125,000 Active 67 DOM
5. 2026-04-24
   price $125,000
6. 2026-03-25
   listed $135,000 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 3/10 Moderate
• 🌡 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: $22,068
• − Mortgage interest: −$7,002
• − Property taxes: −$1,875
• − Insurance: −$625
• − Repairs & maintenance: −$1,765
• − Management: −$1,765
• − Depreciation: −$3,636
• Taxable income: $5,399
• Est. tax owed @ 24.0%: −$1,296
• After-tax cash flow: $5,772/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 80/100 Cosmetic rehab

This move-in-ready manufactured home in Spaid Unique Manor offers a good condition with modern updates and a well-maintained exterior. A fresh coat of paint on the exterior trim would significantly enhance its curb appeal.

Value-add opportunities

• Resale Paint exterior trim — Enhances curb appeal
• Rental Clean gutters — Keeps home in good condition

Renovation cost estimate screening

Value-add ROI direction

• Resale Paint exterior trim — Enhances curb appeal ↑
• Rental Clean gutters — Keeps home in good condition ↑

ⓘ 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: 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

-7.4% since first listed

2 events — show timeline

• 2026-04-24 Price Changed $125,000 NWMLS as Distributed by MLS Grid
• 2026-03-25 Listed $135,000 NWMLS as Distributed by MLS Grid