322 Chicago Blvd S #10 · Pacific, WA 98047

$225,000

3 bd · 2.0 ba · 1,512 sqft · Manufactured · 1 Days on market

Built 2001 Good condition Est $432k · 48% under

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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 +28.4/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.8/10.0
• Schools +4.7/10.0
• Livability +4.0/5.0
• Condition / age +4.0/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Completely remodeled and move-in ready! This beautiful 3-bedroom, 2-bath manufactured home offers 1,512 sq. ft. of stylish living space with a dedicated office and additional flex room, perfect for working from home, hobbies, or extra storage. The home has been thoughtfully updated with fresh interior paint, modern finishes, and an open-concept design that creates a bright and welcoming atmosphere. The stunning kitchen is the centerpiece of the home, featuring contemporary cabinetry, sleek countertops, updated fixtures, and a spacious island that is perfect for cooking, entertaining, and everyday living. The living area features a modern electric fireplace that creates a warm and inviting f

Key facts

• Walk-in closet
• Flex room
• Dedicated office

Tags

• DEDICATED OFFICE
• FLEX ROOM
• STUNNING KITCHEN
• MODERN ELECTRIC FIREPLACE
• WALK-IN CLOSET
• PRIVATE BATHROOM

Property features AI

Finance

• Other: Calculated living area 1,512 square feet; Manufactured after 06/15/1976
• Financial info: Listing terms: Cash or Conventional
• HOA & community: Located in Central Valley Mobile Home Park (park approved for sale); Park has 17 homes; Recreational area in the park; Monthly land lease of $1,110

Exterior

• Parking: Open/uncovered parking; 3 open parking spaces
• Utilities: Public water (Central Valley Mobile Home Park); Sewer (Central Valley Mobile Home Park); Electric power (PSE)
• Home design: Manufactured double-wide home; Single story; Tie-down foundation; Electric energy source; FTWD make / Double Wide body type
• Construction: Wood construction; Composition roof
• Exterior features: Wood products siding; Landscaped; Patio/Porch/Deck; Walk-in closet

Interior

• Kitchen: Stove/Range; Dishwasher; Refrigerator; Kitchen with eating space
• Bedrooms: 3 bedrooms
• Flooring: Vinyl plank
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; No cooling
• Interior features: Fireplace (electric)
• Laundry & utility: Washer; Dryer; Utility room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $225k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $726 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $225k).

Location & tenants

• Location reads 80/100 on livability (#99 in WA, #1,917 nationally) — a professional / high-income tenant draw. Strengths: housing A+, health & safety A+, employment A-; Watch: schools C-, amenities F, cost of living D-.
• 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: 18 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals leasing fast (median 0d 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 30% of the median local income ($115k/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 $2k of loan paydown is wiped out by about $7k 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 + 3.0% rent growth), your $63k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $225,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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.
3. 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.
4. 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: 1.28% ✓
• Cap rate: 10.16%
• Cash-on-cash: 13.82%
• DSCR: 1.61
• GRM: 6.5

CMA / ARV

• ARV (on-the-fly): $432,432
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
406 Chicago Blvd S	0.10mi	3/2.0	1,550 (+2%)	20mo	$350,000	$226	74
417 2nd Ave SE	0.71mi	3/2.0	1,620 (+7%)	10mo	$464,000	$286	47

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 4.0%
• Equity multiple: 1.16×
• Total profit: $9,793
• Equity at exit: $33,548

10-year hold

• IRR: 13.5%
• Equity multiple: 2.08×
• Total profit: $68,207
• Equity at exit: $19,454

Cash invested: $63,000 (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 98047

• Home prices YoY: -21.2%
• Active inventory: 18
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $2,887 high
• Mortgage (P&I): −$1,180
• Tax est. 1.5%: −$281 /mo · $3,375/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$606
• Net cashflow: $726

Break-even live

Break-even rent $1,968

Max offer price $225,000

Occupancy floor 70%

Sensitivity live

Price	-10% $881	-5% $803	+0% $726	+5% $648	+10% $570
Rent	-10% $497	-5% $612	+0% $726	+5% $840	+10% $954
Rate	-1.0pp $839	-0.5pp $783	base $726	+0.5pp $667	+1.0pp $608

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
131 Elise Ct Unit NA Pacific, WA	3.0	2.0	1668	$3,000	$1.80	0d	1	0.24mi
102 Hawthorne Ave S Pacific, WA	3.0	1.0	1285	$2,950	$2.30	0d	1	0.64mi
404 4th Ave SE Pacific, WA	3.0	2.0	2006	$3,600	$1.79	0d	1	0.65mi
110 2nd Ave S Algona, WA	3.0	2.0	1530	$3,600	$2.35	0d	1	0.92mi
345 Pacific Ave N Pacific, WA	1.0–3.0	1.0–2.0	898	$2,306	$2.57	0d	10	0.93mi
6106 Alexander Ave SE Auburn, WA	3.0	2.5	1541	$2,800	$1.82	0d	1	1.49mi

Listing history 2 events

1. 2026-06-19
   remarks 699-char remark
2. 2026-06-19
   listed $225,000 Active 1 DOM

ⓘ 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 X (unshaded) · 26% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥88°F today · 15 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: $34,640
• − Mortgage interest: −$12,603
• − Property taxes: −$3,375
• − Insurance: −$1,125
• − Repairs & maintenance: −$2,771
• − Management: −$2,771
• − Depreciation: −$6,545
• Taxable income: $5,448
• Est. tax owed @ 24.0%: −$1,308
• After-tax cash flow: $7,399/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 · 6 photos

Good 80/100 Cosmetic rehab

This completely remodeled and move-in ready manufactured home offers a stylish and functional living space with fresh updates and an open-concept design.

Value-add opportunities

• Both Painting exterior siding — Enhances curb appeal and can increase both resale and rental value.
• Both Landscaping improvements — Enhances curb appeal and can increase both resale and rental value.
• Both Add a small outdoor seating area — Can increase both resale and rental value by adding a functional and attractive outdoor space.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting exterior siding — Enhances curb appeal and can increase both resale and rental value. ↑
• Both Landscaping improvements — Enhances curb appeal and can increase both resale and rental value. ↑
• Both Add a small outdoor seating area — Can increase both resale and rental value by adding a functional and attractive outdoor space. ↑

ⓘ 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 — Pacific

• Score: 80/100
• State rank: #99
• US rank: #1917

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pacific, WA
• County: King County · 2,251,916 people
• City population: 6,817
• Metro: Seattle-Tacoma-Bellevue, WA
• Population (ZIP): 6,817
• Household income: $115,188
• Rent vs Own: 42.7% rent · 57.3% own
• Severe rent burden: 248.0

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: Diverse neighborhood (Simpson 0.69)
• Race & ethnicity: White 50% Hispanic / Latino 24% Two or more races 17% Asian 8% Black 6% Pacific Islander 6%
• Hispanic origin (detail): Mexican 23%
• Common ancestry: Italian 6% Scotch-Irish 5% Subsaharan African 4%
• Foreign-born: 23% · Canada, Vietnam
• Languages at home: 63% English-only · Spanish 19% Russian/Polish/Slavic 10% Other Asian/Pacific 4%

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: ▼ -88.97%
• Current HPI: 331.3061
• Rent YoY: —
• 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

1 event — show timeline

• 2026-06-18 Listed $225,000 NWMLS as Distributed by MLS Grid