4248 A St SE #619 · Auburn, WA 98002

$145,000

3 bd · 2.0 ba · 1,508 sqft · Manufactured · 39 Days on market

Built 1990 Est $187k · 22% 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 +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Listing remarks

Welcome to this well-maintained 3 bedroom 1.75 bath home located in the heart of Auburn. This inviting home features an open concept kitchen and living room, creating a bright and comfortable space perfect for everyday living and entertaining. The spacious primary bedroom includes its own private 3/4 bath added comfort and convenience. Two additional bedrooms provide flexibility for guess, a homeoffice or growing household needs. Enjoy a functional layout, natural light throughout, and a warm, welcoming atmosphere, conveniently located near shopping, dinning, school, major commuter routes. A great opportunity for affordable living in a desirable location.

Key facts

• Built 1990
• Listed 38 days

Property features AI

Finance

• Other: Property is park-approved for sale; Number of homes in park: 204
• Financial info: Accepts Cash, Conventional, and FHA financing; Monthly land lease: $1,073
• HOA & community: Land lease in park (monthly land lease reported)

Exterior

• Parking: Carport
• Utilities: Electric water heater
• Home design: Manufactured single-wide home (Model 58/26); One level; Manufactured after 06/15/1976
• Construction: Wood construction; Composition roof; Manufactured house / single wide
• Exterior features: Wood exterior products; Located in a manufactured home park (White River Estate) with about 204 homes; Pets allowed in the park

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 1 full bath; 1 three-quarter bath
• Heating & cooling: Forced air heating; Cooling present
• Interior features: Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $145k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $145k).
• Recommended offer: $141k (3.0% below list) — sets the bar for market timing.
• Cap rate 16.2% 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); 176 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals leasing fast (median 0d 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 42% 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 $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 $41k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 39 days — a 3% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 7y ago; this cycle's ask has dropped $15k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $140,650 (3.0% below list)

Questions for the listing agent

1. It's been on market 39 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 1.92% ✓
• Cap rate: 16.18%
• Cash-on-cash: 35.31%
• DSCR: 2.57
• GRM: 4.3

CMA / ARV

• ARV (on-the-fly): $186,992
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4248 A St SE #423	0.06mi	3/2.0	1,446 (-4%)	10mo	$179,950	$124	82
4248 A St SE #421	0.11mi	3/2.0	1,512 (+0%)	15mo	$165,000	$109	82
4248 A St SE #518	0.00mi	3/2.0	1,344 (-11%)	9mo	$145,000	$108	74
707 37th St SE #17	0.53mi	3/2.0	1,500 (-0%)	4mo	$147,500	$98	71
4248 A St SE #228	0.11mi	3/2.0	1,344 (-11%)	11mo	$175,000	$130	68
206 Birch Ln	0.47mi	3/2.0	1,524 (+1%)	13mo	$520,000	$341	66
4248 A St SE #513	0.11mi	4/2.0 (+1)	1,620 (+7%)	14mo	$189,950	$117	66
707 37th St SE #71	0.53mi	4/2.0 (+1)	1,440 (-4%)	6mo	$160,000	$111	58
707 37th St SE #36	0.53mi	3/2.0	1,404 (-7%)	9mo	$215,000	$153	56
417 2nd Ave SE	0.69mi	3/2.0	1,620 (+7%)	10mo	$464,000	$286	47
401 37th St SE #119	0.42mi	3/2.0	1,296 (-14%)	13mo	$172,500	$133	46
607 37th St SE #81	0.52mi	4/2.0 (+1)	1,296 (-14%)	5mo	$115,000	$89	43

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: 29.2%
• Equity multiple: 2.20×
• Total profit: $48,528
• Equity at exit: $21,620

10-year hold

• IRR: 35.7%
• Equity multiple: 4.06×
• Total profit: $124,047
• Equity at exit: $12,537

Cash invested: $40,600 (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: 176
• Price-to-rent: 4.3×

Monthly cashflow live

• Estimated rent: $2,781 high
• Mortgage (P&I): −$760
• Tax est. 1.5%: −$181 /mo · $2,175/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$584
• Net cashflow: $1,195

Break-even live

Break-even rent $1,268

Max offer price $145,000

Occupancy floor 52%

Sensitivity live

Price	-10% $1,295	-5% $1,245	+0% $1,195	+5% $1,145	+10% $1,094
Rent	-10% $975	-5% $1,085	+0% $1,195	+5% $1,305	+10% $1,414
Rate	-1.0pp $1,268	-0.5pp $1,232	base $1,195	+0.5pp $1,157	+1.0pp $1,119

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4704 Mill Pond Dr SE #213 Auburn, WA	2.0	2.0	1142	$2,750	$2.41	3d	1	0.45mi
4716 Mill Pond Dr SE Apt 1001 Auburn, WA	3.0	2.5	1673	$2,900	$1.73	11d	1	0.50mi
345 Pacific Ave N Pacific, WA	1.0–3.0	1.0–2.0	898	$2,306	$2.57	0d	10	0.53mi
102 Hawthorne Ave S Pacific, WA	3.0	1.0	1285	$2,950	$2.30	0d	1	0.75mi
404 4th Ave SE Pacific, WA	3.0	2.0	2006	$3,600	$1.79	0d	1	0.88mi
5909 Panorama Dr SE Unit 11-103 Auburn, WA	2.0	2.5	1727	$2,750	$1.59	44d	1	1.12mi
2952 O St SE Unit F Auburn, WA	2.0	1.0	1051	$1,495	$1.42	3d	1	1.14mi
6170 Terrace View Ln SE Auburn, WA	1.0–3.0	1.0–2.0	956	$2,551	$2.67	0d	36	1.14mi
6106 Alexander Ave SE Auburn, WA	3.0	2.5	1541	$2,800	$1.82	0d	1	1.19mi
131 Elise Ct Unit NA Pacific, WA	3.0	2.0	1668	$3,000	$1.80	0d	1	1.36mi
1115 62nd St SE Unit 18B Auburn, WA	2.0	1.5	1285	$2,695	$2.10	2d	1	1.37mi
1105 63rd St SE Unit C Auburn, WA	3.0	2.5	1372	$4,000	$2.92	0d	1	1.40mi
110 2nd Ave S Algona, WA	3.0	2.0	1530	$3,600	$2.35	0d	1	1.41mi

Listing history 19 events

1. 2026-06-21
   days on market $145,000 Active 39 DOM
2. 2026-06-18
   days on market $145,000 Active 36 DOM
3. 2026-06-17
   days on market $145,000 Active 35 DOM
4. 2026-06-16
   days on market $145,000 Active 34 DOM
5. 2026-06-15
   days on market $145,000 Active 33 DOM
6. 2026-06-13
   days on market $145,000 Active 31 DOM
7. 2026-06-13
   days on market $145,000 Active 30 DOM
8. 2026-06-09
   days on market $145,000 Active 27 DOM
9. 2026-06-08
   days on market $145,000 Active 26 DOM
10. 2026-06-07
    days on market $145,000 Active 25 DOM
11. 2026-06-04
    days on market $145,000 Active 22 DOM
12. 2026-06-03
    days on market $145,000 Active 21 DOM
13. 2026-06-02
    days on market $145,000 Active 20 DOM
14. 2026-06-01
    days on market $145,000 Active 19 DOM
15. 2026-05-31
    days on market $145,000 Active 18 DOM
16. 2026-05-22
    price $149,000
17. 2026-05-13
    listed $160,000 Active
18. 2020-02-07
    status Pending
19. 2019-12-09
    listed 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 3/10 Moderate 7 d/yr ≥88°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: $33,368
• − Mortgage interest: −$8,122
• − Property taxes: −$2,175
• − Insurance: −$725
• − Repairs & maintenance: −$2,669
• − Management: −$2,669
• − Depreciation: −$4,218
• Taxable income: $12,789
• Est. tax owed @ 24.0%: −$3,069
• After-tax cash flow: $11,267/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

-6.9% since first listed

4 events — show timeline

• 2026-05-22 Price Changed $149,000 NWMLS as Distributed by MLS Grid
• 2026-05-13 Listed $160,000 NWMLS as Distributed by MLS Grid
• 2020-02-07 Pending — NWMLS as Distributed by MLS Grid
• 2019-12-09 Listed — NWMLS as Distributed by MLS Grid