11815 93rd Ln NE #203 · Kirkland, WA 98034

$334,500

2 bd · 1.5 ba · 895 sqft · Condo · 164 Days on market

Built 1981 $374/sqft · 23% below area Est $434k · 23% under $463/mo HOA · 18% of rent ↓ 8% since listing

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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
• Schools +7.5/10.0
• Cash flow +5.2/30.0
• Livability +4.2/5.0
• Rent growth +2.8/5.0
• 1% rule +2.6/10.0
• Condition / age +2.5/5.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Charming Condo near Juanita Beach in Kirkland. Perfect Blend of Comfort & Convenience. Located in the desirable Juanita Beach neighborhood, this move-in-ready two-bdrm, 1.5-bth condo is just a . 2-mile walk to Juanita Beach & conveniently close to shops, dining, & coffee spots. Newly painted w/ soft plush carpets, the home features a cozy wood-burning fireplace & a luxurious walk-in shower in the primary bth. Spacious deck affords space for those hot summer BBQ's. Community amenities include a cabana with lounge/game room, kitchen/bar, sauna, & locker rooms. With no rental cap, pet-friendly policies, & one assigned covered parking space, this property offers

Key facts

• Move-in-ready
• Community amenities
• Spacious deck

Tags

• MOVE-IN-READY
• COZY WOOD-BURNING FIREPLACE
• LUXURIOUS WALK-IN SHOWER
• SPACIOUS DECK
• COMMUNITY AMENITIES
• PET-FRIENDLY POLICIES

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $334k.

Deal economics

• At list price, monthly cash flow is $-760 ($-9k/yr) — negative.
• To cash-flow at today's rent, offer at most $224k (32.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $255k (23.8% below list).
• Recommended offer: $224k (32.9% below list) — sets the bar for cash-flow.
• Cap rate 3.6% vs local median 1.1% in Kirkland — 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 84/100 on livability (#46 in WA, #792 nationally) — a professional / high-income tenant draw. Strengths: schools A+, commute A+, employment A+; Watch: cost of living F.
• Lake Washington School District (suburban): math 79% / reading 85% proficiency, ranked #3 of 291 in WA (top 1%) — strong family-tenant draw, lease renewals of 3-5y typical; only 10% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising (+1.1%/yr); 338 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 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 $2k of loan paydown is wiped out by about $10k 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 164 days — a 12% lower offer ($294k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $50k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $224,468 (32.9% 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 164 days. Have you received any prior offers? Is the seller open to a 33% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.76% ✗
• Cap rate: 3.57%
• Cash-on-cash: -9.74%
• DSCR: 0.57
• GRM: 10.9

CMA / ARV

• ARV (median comp): $434,278
• List price: $334,500
• Delta: -22.98%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 1.14% rent growth · sell at horizon

5-year hold

• IRR: -36.2%
• Equity multiple: -0.14×
• Total profit: $-106,996
• Equity at exit: $49,875

10-year hold

• IRR: -67.6%
• Equity multiple: -0.84×
• Total profit: $-172,740
• Equity at exit: $28,921

Cash invested: $93,660 (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 98034

• Rents YoY: 1.1%
• Active inventory: 338
• Price-to-rent: 10.9×

Monthly cashflow live

• Estimated rent: $2,550 high
• Mortgage (P&I): −$1,754
• Tax est. 1.5%: −$418 /mo · $5,018/yr
• Insurance: −$139
• HOA: −$463
• Vacancy / Maint / Mgmt: −$535
• Net cashflow: $-760

Break-even live

Break-even rent $3,512

Max offer price $224,468

Occupancy floor —

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: $83,625
• Closing costs: $10,035
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9311 NE 118th Ln Kirkland, WA	2.0	1.0–1.5	939	$2,616	$2.79	5d	5	0.03mi
11615 91st Ln NE Kirkland, WA	2.0	1.0	800	$2,300	$2.88	5d	1	0.15mi
9536 NE 120th St Kirkland, WA	2.0	1.0	600	$2,399	$4.00	2d	10	0.19mi
9740 NE 119th Way Kirkland, WA	2.0	1.0–2.5	980	$3,964	$4.04	2d	15	0.23mi
11801 97th Ln NE Kirkland, WA	1.0	1.0	877	$2,995	$3.41	2d	13	0.23mi
11718 97th Ln NE Kirkland, WA	2.0	1.0–2.0	836	$3,101	$3.71	2d	15	0.27mi
11702 98th Ave NE Kirkland, WA	2.0	1.0–2.0	882	$3,470	$3.93	2d	13	0.34mi
9805 NE 124th St #107 Kirkland, WA	2.0	2.0	937	$2,300	$2.45	44d	1	0.38mi
11633 100th Ave NE Unit B6 Kirkland, WA	1.0	1.0	662	$1,850	$2.79	18d	1	0.38mi
11809 100th Ave NE Unit B203 Kirkland, WA	2.0	1.5	859	$2,800	$3.26	17d	1	0.39mi
12029 100th Ave NE Unit C2 Kirkland, WA	2.0	1.0	963	$1,995	$2.07	24d	1	0.40mi
9905 NE 124th St Kirkland, WA	2.0	2.0	937	$2,800	$2.99	44d	1	0.44mi
9905 NE 124th St #704 Kirkland, WA	2.0	2.0	937	$2,650	$2.83	24d	1	0.44mi
12221 100th Ave NE Kirkland, WA	2.0	1.5	991	$2,295	$2.32	24d	1	0.45mi
9840 NE 116th St Unit 4 Kirkland, WA	2.0	1.0	1000	$2,600	$2.60	15d	1	0.45mi
9840 NE 116th St Unit 1 Kirkland, WA	3.0	1.0	950	$2,300	$2.42	15d	1	0.45mi
12036 100th Ave NE Unit K302 Kirkland, WA	2.0	1.0	1040	$2,300	$2.21	5d	1	0.48mi
9900 NE 124th St #1306 Kirkland, WA	1.0	1.0	680	$1,800	$2.65	44d	1	0.49mi
9900 NE 124th St #1315 Kirkland, WA	1.0	1.0	690	$1,795	$2.60	3d	1	0.49mi
9906 NE 124th St #1109 Kirkland, WA	2.0	2.0	937	$2,450	$2.61	44d	1	0.53mi
12520 101st Way NE Kirkland, WA	2.0–3.0	2.5	1242	$3,068	$2.47	2d	3	0.62mi
12603 100th Ln NE Unit K151 Kirkland, WA	1.0	1.0	739	$1,750	$2.37	11d	1	0.63mi
12603 100th Ln NE Unit 1 Kirkland, WA	1.0	1.0	739	$1,950	$2.64	44d	1	0.63mi
10014 NE 127th Pl Unit A102 Kirkland, WA	2.0	1.0	980	$2,295	$2.34	20d	1	0.72mi
10026 NE 127th Pl Unit D117 Kirkland, WA	1.0	1.0	739	$1,950	$2.64	15d	1	0.74mi
9823 NE 130th Pl Kirkland, WA	2.0	1.0	925	$2,320	$2.51	2d	2	0.75mi
10013 NE 130th Ln Kirkland, WA	2.0	2.0–2.5	1089	$2,984	$2.74	2d	6	0.87mi
12510 109th Ct NE Unit E304 Kirkland, WA	2.0	2.0	938	$2,800	$2.99	18d	1	1.01mi
11010 NE 124th Ln Kirkland, WA	1.0–2.0	1.0	613	$2,220	$3.62	2d	8	1.13mi
10211 NE 134th Ln Kirkland, WA	1.0–2.0	1.0–2.0	800	$2,857	$3.57	2d	8	1.13mi
11112 NE 124th Ln Unit D114 Kirkland, WA	2.0	1.0	866	$2,099	$2.42	5d	1	1.16mi
11112 NE 124th Ln Kirkland, WA	2.0	1.0	917	$2,246	$2.45	17d	1	1.20mi
1833 3rd St Unit 1bd Kirkland, WA	1.0	1.0	800	$1,500	$1.88	24d	1	1.25mi
10135 NE 137th Pl #11 Kirkland, WA	1.0	1.5	850	$1,995	$2.35	24d	1	1.30mi
11227 NE 128th St Kirkland, WA	2.0	2.0	910	$2,400	$2.64	17d	1	1.30mi
10152 NE 137th Pl Kirkland, WA	2.0	2.5	1040	$2,750	$2.64	5d	1	1.32mi
11110 Forbes Creek Dr Kirkland, WA	1.0–3.0	1.0–2.0	977	$2,760	$2.83	2d	41	1.35mi
10811 113th Ct NE Unit J308 Kirkland, WA	2.0	1.0	1000	$2,515	$2.52	44d	1	1.37mi
12333 120th Ave NE Kirkland, WA	1.0–3.0	1.0–2.0	810	$1,880	$2.32	3d	1	1.42mi
12337 120th Ave NE Kirkland, WA	2.0	1.0–2.0	704	$3,095	$4.40	2d	26	1.46mi

HOA detail condo

• Monthly dues: $463 · $5,556/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 21 events

1. 2026-06-18
   days on market $334,500 Active 164 DOM
2. 2026-06-17
   days on market $334,500 Active 163 DOM
3. 2026-06-16
   days on market $334,500 Active 162 DOM
4. 2026-06-15
   price $334,500 Active 161 DOM
5. 2026-06-15
   days on market $344,500 Active 161 DOM
6. 2026-06-13
   days on market $344,500 Active 159 DOM
7. 2026-06-09
   days on market $344,500 Active 155 DOM
8. 2026-06-08
   days on market $344,500 Active 154 DOM
9. 2026-06-07
   days on market $344,500 Active 153 DOM
10. 2026-06-04
    days on market $344,500 Active 150 DOM
11. 2026-06-03
    days on market $344,500 Active 149 DOM
12. 2026-06-02
    days on market $344,500 Active 148 DOM
13. 2026-06-01
    days on market $344,500 Active 147 DOM
14. 2026-05-31
    days on market $344,500 Active 146 DOM
15. 2026-04-30
    price $354,500
16. 2026-03-25
    price $359,500
17. 2026-02-25
    price $364,500
18. 2026-02-06
    status Active
19. 2026-01-18
    status Pending
20. 2026-01-15
    price $374,500
21. 2025-12-17
    listed $384,500 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 ≥86°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 7/10 Severe 9 unhealthy d/yr today · 10 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,596
• − Mortgage interest: −$18,737
• − Property taxes: −$5,018
• − Insurance: −$1,672
• − Repairs & maintenance: −$2,448
• − Management: −$2,448
• − HOA: −$5,556
• − Depreciation: −$9,731
• Taxable loss: −$15,013
• Est. tax savings @ 24.0%: +$3,603
• After-tax cash flow: $-5,522/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: Lake Washington School District
• NCES district ID: 5304230
• Math proficiency: 79% ▬ 0.00%
• Reading proficiency: 85% ▲ 1.00%
• Median HH income: $103,849
• Composite: 75.15/100
• National rank: #251
• State rank: #3 of 291 in WA

Livability — Kirkland

• Score: 84/100
• State rank: #46
• US rank: #792

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Kirkland, WA
• County: King County · 2,251,916 people
• City population: 93,513
• Metro: Seattle-Tacoma-Bellevue, WA
• Population (ZIP): 52,531
• Household income: $135,219
• Rent vs Own: 40.8% rent · 59.2% own
• Severe rent burden: 1830.0

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 0.56)
• Race & ethnicity: White 64% Asian 17% Two or more races 10% Hispanic / Latino 9% Black 2%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Italian 3% Portuguese 3% Lithuanian 3%
• Foreign-born: 26% · Canada, China, Vietnam
• Languages at home: 70% English-only · Other Indo-European 8% Spanish 7% Chinese 5%

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: ▼ -1281.53%
• Current HPI: 442.5372
• Rent YoY: ▲ 1.14%
• 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

-7.8% since first listed

7 events — show timeline

• 2026-04-30 Price Changed $354,500 NWMLS as Distributed by MLS Grid
• 2026-03-25 Price Changed $359,500 NWMLS as Distributed by MLS Grid
• 2026-02-25 Price Changed $364,500 NWMLS as Distributed by MLS Grid
• 2026-02-06 Relisted — NWMLS as Distributed by MLS Grid
• 2026-01-18 Pending — NWMLS as Distributed by MLS Grid
• 2026-01-15 Price Changed $374,500 NWMLS as Distributed by MLS Grid
• 2025-12-17 Listed $384,500 NWMLS as Distributed by MLS Grid