652 NW 85th St · Seattle, WA 98117

$950,000

6 bd · 3.0 ba · 3,096 sqft · SingleFamily public records · 118 Days on market

Built 1918 4,700 sqft lot $307/sqft · 22% below area Est $1216k · 22% under

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Why this score? — see what drove the D 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).

• ARV discount +15.0/15.0
• Cash flow +8.4/30.0
• Schools +6.1/10.0
• Livability +3.8/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• DSCR +2.3/10.0
• 1% rule +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks

Crown Hill Duplex property still in time for FIFA World Cup! Former law office, zoned NC1-55(M). Lease then develop mixed use project: apartments, coop or condo w/ ground level comm (retail, office, medical) up to 16 units - Square Footage up to 41,000 and Traffic Count 18,800 - 20,000. Can owner-occupy w/ residential lending. Surrounding density is growing with new NR zoning. Current rents total $4,800. Don't miss your opportunity to own this fantastic investment opportunity and be in the heart of Crown Hill-Ballard-Greenwood. Okay to street appraise exterior. Interior tour with signed PSA. Finance Sheet Uploaded.

Key facts

• Ground level comm
• Surrounding density
• New nr zoning

Tags

• ZONED NC1-55M
• FULLY LEASED INCOME PROPERTY
• GROUND LEVEL COMM
• RETAIL OFFICE MEDICAL
• SURROUNDING DENSITY
• NEW NR ZONING

What this means for you Summary

Snapshot

• This is a 6-bed/3.0-bath single-family listed at $950k.

Deal economics

• At list price, monthly cash flow is $-853 ($-10k/yr) — negative.
• To cash-flow at today's rent, offer at most $799k (15.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $677k (28.7% below list).
• Recommended offer: $677k (28.7% below list) — sets the bar for 1% rule.
• Cap rate 5.2% vs local median 1.6% in Seattle — 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 75/100 on livability (#166 in WA, #4,033 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, employment A+; Watch: crime F, cost of living F.
• Seattle Public Schools (urban): math 64% / reading 72% proficiency, ranked #19 of 291 in WA (top 6%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Hazel Wolf K-8 (720 students, 22% FRL); Whitman Middle School (679 students, 15% FRL); Ingraham High School (1,452 students, 33% FRL).
• Market conditions: Rents flat; 211 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 5d 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).
• This rent runs 44% of the median local income ($183k/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 $7k of loan paydown is wiped out by about $28k 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 118 days — a 9% lower offer ($864k) is reasonable based on typical stale-listing flexibility.
• 4 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.

Risks & watch-outs

• Watch-outs: built in 1918 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $677,211 (28.7% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 118 days. Have you received any prior offers? Is the seller open to a 29% concession, seller financing, or rate buy-down credit?
3. Built in 1918 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
9. 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.
10. 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.
11. 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: 0.71% ✗
• Cap rate: 5.22%
• Cash-on-cash: -3.85%
• DSCR: 0.83
• GRM: 11.7

CMA / ARV

• ARV (median comp): $1,216,002
• List price: $950,000
• Delta: -21.88%
• Verdict: UNDERPRICED
• Comps: 15 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
9212 11th Ave NW	0.44mi	5/3.5 (-1)	3,098 (+0%)	2mo	$1,725,000	$557	71
9208 11th Ave NW	0.43mi	5/3.5 (-1)	3,120 (+1%)	9mo	$1,750,000	$561	64
9545 2nd Ave NW	0.63mi	6/3.0	2,864 (-8%)	0mo	$1,150,000	$402	58
614 NW 74th St	0.57mi	5/3.0 (-1)	2,893 (-7%)	0mo	$1,700,000	$588	57
8841 Dibble Ave NW	0.24mi	5/3.5 (-1)	3,518 (+14%)	8mo	$1,790,000	$509	53
1474 NW 92nd St	0.63mi	5/2.0 (-1)	3,040 (-2%)	9mo	$1,324,716	$436	51
332 NW 89th St	0.26mi	5/3.0 (-1)	2,690 (-13%)	14mo	$1,575,000	$586	50
540 N 83rd St	0.70mi	6/3.5	3,540 (+14%)	10mo	$1,320,000	$373	33
7720 10th Ave NW	0.39mi	5/4.0 (-1)	3,540 (+14%)	20mo	$1,900,000	$537	32
7339 Mary Ave NW	0.75mi	5/2.0 (-1)	2,720 (-12%)	15mo	$1,303,000	$479	24

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 · 0.91% rent growth · sell at horizon

5-year hold

• IRR: -25.0%
• Equity multiple: 0.16×
• Total profit: $-222,342
• Equity at exit: $141,648

10-year hold

• IRR: -28.1%
• Equity multiple: -0.20×
• Total profit: $-318,953
• Equity at exit: $82,139

Cash invested: $266,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (CITY): 0 Strongly Tenant-Friendly
• State Washington: 28 Tenant-Leaning · D+8
• County: — inherits STATE
• City Seattle: 0 Strongly Tenant-Friendly · D+52

Just Cause + Relocation Assistance + Source of Income + First in Time.

Methodology + full state rankings →

ZIP-level market 98117

• Rents YoY: 0.9%
• Active inventory: 211
• Price-to-rent: 11.7×

Monthly cashflow live

• Estimated rent: $6,772 medium
• Mortgage (P&I): −$4,982
• Tax from tax record: −$825 /mo · $9,903/yr
• Insurance: −$396
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,422
• Net cashflow: $-853

Break-even live

Break-even rent $7,852

Max offer price $799,310

Occupancy floor —

Sensitivity live

Price	-10% $-315	-5% $-584	+0% $-853	+5% $-1,122	+10% $-1,391
Rent	-10% $-1,388	-5% $-1,121	+0% $-853	+5% $-586	+10% $-318
Rate	-1.0pp $-375	-0.5pp $-611	base $-853	+0.5pp $-1,099	+1.0pp $-1,350

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: $237,500
• Closing costs: $28,500
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
540 N 83rd St Seattle, WA	6.0	4.0	3540	$8,400	$2.37	45d	1	0.72mi
7618 Linden Ave N Seattle, WA	5.0	3.0	2950	$6,045	$2.05	4d	1	0.99mi
421 N 63rd St Seattle, WA	5.0	3.5	4200	$10,450	$2.49	0d	1	1.29mi

Listing history 29 events

1. 2026-06-21
   days on market $950,000 Active 118 DOM
2. 2026-06-21
   days on market $950,000 Active 117 DOM
3. 2026-06-19
   days on market $950,000 Active 116 DOM
4. 2026-06-18
   days on market $950,000 Active 115 DOM
5. 2026-06-17
   days on market $950,000 Active 114 DOM
6. 2026-06-16
   days on market $950,000 Active 113 DOM
7. 2026-06-15
   days on market $950,000 Active 112 DOM
8. 2026-06-15
   days on market $950,000 Active 111 DOM
9. 2026-06-13
   days on market $950,000 Active 110 DOM
10. 2026-06-12
    days on market $950,000 Active 109 DOM
11. 2026-06-10
    days on market $950,000 Active 107 DOM
12. 2026-06-09
    days on market $950,000 Active 106 DOM
13. 2026-06-08
    days on market $950,000 Active 105 DOM
14. 2026-06-07
    days on market $950,000 Active 104 DOM
15. 2026-06-07
    days on market $950,000 Active 103 DOM
16. 2026-06-04
    days on market $950,000 Active 101 DOM
17. 2026-06-03
    days on market $950,000 Active 100 DOM
18. 2026-06-02
    days on market $950,000 Active 99 DOM
19. 2026-06-01
    days on market $950,000 Active 98 DOM
20. 2026-05-31
    days on market $950,000 Active 97 DOM
21. 2026-02-23
    listed $950,000 Active
22. 2023-11-25
    historical
23. 2023-05-24
    listed Active
24. 2020-03-06
    soldstatus $845,000 Sold
25. 2020-03-06
    soldstatus $845,000
26. 2019-09-30
    status Pending Feasibility
27. 2019-07-26
    listed $899,000 Active
28. 2019-07-26
    historical Cancelled
29. 2019-06-28
    listed Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast WA · Resets to sale price

• Current annual tax: $9,903 · $825/mo
• Projected year-2 tax: $9,903 · $825/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $81,265
• − Mortgage interest: −$53,215
• − Property taxes: −$9,903
• − Insurance: −$4,750
• − Repairs & maintenance: −$6,501
• − Management: −$6,501
• − Depreciation: −$27,636
• Taxable loss: −$27,241
• Est. tax savings @ 24.0%: +$6,538
• After-tax cash flow: $-3,698/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: Seattle Public Schools
• NCES district ID: 5307710
• Math proficiency: 64% ▼ -1.00%
• Reading proficiency: 72% ▬ 0.00%
• Median HH income: $68,695
• Composite: 60.76/100
• National rank: #1649
• State rank: #19 of 291 in WA

Livability — Seattle

• Score: 75/100
• State rank: #166
• US rank: #4033

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Seattle, WA
• County: King County · 2,251,916 people
• City population: 706,262
• Metro: Seattle-Tacoma-Bellevue, WA
• Population (ZIP): 35,711
• Household income: $182,984
• Rent vs Own: 27.4% rent · 72.6% own
• Severe rent burden: 440.0

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: Predominantly White (79%)
• Race & ethnicity: White 79% Two or more races 10% Asian 8% Hispanic / Latino 4%
• Common ancestry: Italian 7% Portuguese 7% Slovak 4%
• Foreign-born: 12% · Canada, China, South Korea
• Languages at home: 88% English-only · Spanish 3% Other Indo-European 2% Chinese 1%

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: ▼ -1480.47%
• Current HPI: 330.8249
• Rent YoY: ▲ 0.91%
• 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

+5.7% since first listed

9 events — show timeline

• 2026-02-23 Listed $950,000 NWMLS as Distributed by MLS Grid
• 2023-11-25 Delisted — NWMLS as Distributed by MLS Grid
• 2023-05-24 Listed — NWMLS as Distributed by MLS Grid
• 2020-03-06 Sold (Public Records) $845,000 Public Records
• 2020-03-06 Sold (MLS) $845,000 NWMLS as Distributed by MLS Grid
• 2019-09-30 Pending — NWMLS as Distributed by MLS Grid
• 2019-07-26 Delisted — NWMLS as Distributed by MLS Grid
• 2019-07-26 Listed $899,000 NWMLS as Distributed by MLS Grid
• 2019-06-28 Listed — NWMLS as Distributed by MLS Grid

Property tax history

+7.7%/yr

Latest (2025): $9,903 · +2.2% YoY. Source: county tax records.