7301 NE 175th St #215 · Kenmore, WA
Flood risk 9/10 · Severe
- FEMA flood zone
- X (unshaded)
- Chance of flooding over 30 yrs
- 0.99%
- Est. flood insurance / yr
- $507 – $1,088
Fire risk 1/10 · Minimal
- Est. fire insurance / yr
- $604 – $1,122
Heat risk 3/10 · Minor
- Hot days now (above 86°F)
- 7 days/yr
- Hot days in 30 yrs
- 16 days/yr
Wind risk 1/10 · Minimal
- Chance of severe wind over 30 yrs
- —
Air-quality risk 6/10 · Moderate
- Unhealthy air days now
- 9 days/yr
- Unhealthy air days in 30 yrs
- 9 days/yr
Risk factors via First Street. Map © Google.
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 +22.5/30.0
- ARV discount +15.0/15.0
- 1% rule +7.5/10.0
- DSCR +7.5/10.0
- Schools +6.7/10.0
- Livability +4.3/5.0
- Rent growth +3.0/5.0
- Appreciation +2.5/10.0
- Condition / age +2.2/5.0
- Manufactured-home adj. -5.7
$129,000
🖨 Deal sheet (PDF) 📄 Offer letter ✓ Due diligence
Listing remarks
MOTIVATED SELLER! BRING OFFERS !!! Welcome to Inglewood East Shores, one of the most desirable 55+ communities in the Kenmore area — set along the scenic Sammamish River with waterfront access, a dock, and a clubhouse. This move-in ready home offers 1,536 sq ft of comfortable living with 2 bedrooms and 1.75 baths. The open living/dining area and family room with cozy wood stove create a warm, inviting space perfect for Pacific Northwest evenings. The generous kitchen provides ample workspace, while the primary suite includes a private ¾ bath. A second bedroom with access to the guest bath completes the thoughtful floor plan.
Key facts
- Clubhouse
- Heat pump
- Newer roof
Tags
Neighborhood map
What this means for you Summary
Snapshot
- This is a 2-bed/2.0-bath manufactured listed at $129k. Condition is rated fair.
Deal economics
- At list price, monthly cash flow is $767 ($9k/yr) — positive.
- The deal already cash-flows at list — no discount required.
- Meets the 1% rule at list price ($2k rent vs $129k).
- Recommended offer: $121k (6.0% below list) — sets the bar for market timing.
- Cap rate 14.0% vs local median 1.7% in Kenmore — 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 86/100 on livability (#21 in WA, #427 nationally) — a professional / high-income tenant draw. Strengths: crime A+, amenities A+, commute A+; Watch: cost of living F.
- Northshore School District (suburban): math 69% / reading 78% proficiency, ranked #9 of 291 in WA (top 3%) — strong family-tenant draw, lease renewals of 3-5y typical; only 12% free/reduced lunch — higher-income household profile.
- Zoned schools: Kenmore Elementary (424 students, 44% FRL); Kenmore Middle School (718 students, 25% FRL); Inglemoor Hs (1,542 students, 20% FRL) — zoned schools average 30% FRL vs 12% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
- Market conditions: Rents rising (+2.1%/yr); 253 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 44% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $892 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 + 2.1% rent growth), your $36k cash investment doubles in ~5 years — after that, you're playing with house money.
Negotiation context
- It's been on market 86 days — a 6% lower offer ($121k) is reasonable based on typical stale-listing flexibility.
- 2 sale attempts since 6y 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.
- Current owner paid $85k; list at $129k implies a 52% gain — meaningful room to come down on a strong offer.
Risks & watch-outs
- Watch-outs: flood insurance adds $66/mo.
- Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.
Questions for the listing agent
- It's been on market 86 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
- Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
- Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
- What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
- Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
- Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
- 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?
- 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.
- 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.
- 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
- 1.69% ✓
- Cap rate
- 14.05%
- Cash-on-cash
- 27.69%
- DSCR
- 2.23
- GRM
- 4.9
CMA / ARV
- ARV (median comp)
- $250,500
- List price
- $129,000
- Delta
- -48.50%
- Verdict
- UNDERPRICED
- Comps
- 6 within 1.0 mi
Show comp detail 5 sales within ~0.75 mi
| Address | Dist | Beds/Ba | Sqft | Sold | Price | $/sf | Match |
|---|---|---|---|---|---|---|---|
| 7301 NE 175th St #331 | 0.07mi | 3/2.0 (+1) | 1,605 (+4%) | 5mo | $235,000 | $146 | 80 |
| 7031 NE 175th St #34 | 0.15mi | 2/2.0 | 1,400 (-9%) | 21mo | $215,000 | $154 | 61 |
| 7031 NE 175th St #20 | 0.15mi | 3/2.0 (+1) | 1,248 (-19%) | 11mo | $155,000 | $124 | 53 |
| 7031 NE 175th St #19 | 0.15mi | 2/2.0 | 1,248 (-19%) | 21mo | $255,000 | $204 | 50 |
| 18612 72nd Ave NE | 0.56mi | 3/2.0 (+1) | 1,782 (+16%) | 0mo | $600,000 | $337 | 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 · 2.09% rent growth · sell at horizon
- IRR
- 18.0%
- Equity multiple
- 1.72×
- Total profit
- $26,041
- Equity at exit
- $19,234
- IRR
- 25.8%
- Equity multiple
- 3.16×
- Total profit
- $77,897
- Equity at exit
- $11,154
Cash invested: $36,120 (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
Active competition Active MLS
- For sale now
- 2 active · 1 under contract
- Months of supply
- 6.0 mo (17%/mo absorbed)
- Median asking
- $159,925 ($118/sqft)
- Median days on market
- 114 d
- This list price
- lowest-priced of the active set
- ARV vs active asking
- +38.6% above current asking $/sqft
Closed sales set the value; these active listings set current market conditions and a practical price ceiling.
ZIP-level market 98028
- Rents YoY
- 2.1%
- Active inventory
- 253
- Price-to-rent
- 4.9×
Monthly cashflow live
- Estimated rent
- $2,184 high interval (Pro) →
- Mortgage (P&I)
- −$676
- Tax est. 1.5%
- −$161 /mo · $1,935/yr
- Insurance
- −$54
- Flood insurance flood zone
- −$66 /mo · $798/yr
- HOA
- −$0
- Lot rent leased land?
- −$0
- Vacancy / Maint / Mgmt
- −$459
- Net cashflow
- $767
Break-even live
Sensitivity live
| Price | -10% $856 | -5% $812 | +0% $767 | +5% $722 | +10% $678 |
|---|---|---|---|---|---|
| Rent | -10% $595 | -5% $681 | +0% $767 | +5% $853 | +10% $940 |
| Rate | -1.0pp $832 | -0.5pp $800 | base $767 | +0.5pp $734 | +1.0pp $700 |
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
- $32,250
- Closing costs
- $3,870
- Club membership (one-time)
- —
- Reserves months
- —
- Total cash needed
- —
Loan-product check · same deal, 3 products live
Conventional
25% down · 7.5% · 30yr
- Cash invested
- —
- Monthly P&I
- —
- Monthly cashflow
- —
- DSCR
- —
- Eligible?
- —
Personal DTI + credit; lowest rate.
DSCR
20% down · 8.5% · 30yr
- Cash invested
- —
- Monthly P&I
- —
- Monthly cashflow
- —
- DSCR
- —
- Eligible?
- —
No personal income docs; deal must DSCR.
Hard money
10% down · 12.0% · 12mo
- Cash invested
- —
- Monthly P&I
- —
- Monthly cashflow
- —
- DSCR
- —
- Eligible?
- —
Short-term bridge; refi at stabilization.
Rent comps 18 comps
| Address | Beds | Baths | Sqft | Rent | $/sqft | DOM | Units | Dist |
|---|---|---|---|---|---|---|---|---|
| 7721 NE 175th St Unit 7731-104 Kenmore, WA | 3.0 | 3.0 | 1632 | $3,800 | $2.33 | 23d | 1 | 0.28mi |
| 17525 80th Ave NE Kenmore, WA | 1.0–2.0 | 1.0–2.0 | 900 | $1,799 | $2.00 | 21d | 4 | 0.42mi |
| 17811 80th Ave NE Kenmore, WA | 2.0 | 2.5 | 1437 | $3,000 | $2.09 | 93d | 1 | 0.43mi |
| 17827 80th Ave NE Unit B102 Kenmore, WA | 3.0 | 2.0 | 1346 | $3,000 | $2.23 | 73d | 1 | 0.44mi |
| 16636 Juanita Dr NE Kenmore, WA | 2.0 | 2.0 | 1134 | $2,249 | $1.98 | 21d | 1 | 0.46mi |
| 17921 80th Ave NE Unit A3 Kenmore, WA | 3.0 | 2.5 | 1262 | $3,000 | $2.38 | 67d | 1 | 0.46mi |
| 18151 68th Ave NE Kenmore, WA | 1.0–3.0 | 1.0–3.0 | 1015 | $2,664 | $2.62 | 8d | 6 | 0.51mi |
| 6711 NE 182nd St Kenmore, WA | 1.0–2.0 | 1.0–2.0 | 858 | $2,483 | $2.89 | 12d | 14 | 0.55mi |
| 7000 NE 186th Pl Kenmore, WA | 2.0–3.0 | 2.5 | 1465 | $3,287 | $2.24 | 9d | 6 | 0.59mi |
| 16929 Inglewood Rd NE Unit C202 Kenmore, WA | 2.0 | 2.0 | 1375 | $3,000 | $2.18 | 25d | 1 | 0.60mi |
| 8700 NE Bothell Way Bothell, WA | 1.0–3.0 | 1.0–2.0 | 1038 | $2,204 | $2.12 | 8d | 7 | 0.87mi |
| 8837 NE 178th St Bothell, WA | 3.0 | 2.5 | 1965 | $3,700 | $1.88 | 60d | 1 | 0.97mi |
| 15000 Juanita Dr NE #302 Kenmore, WA | 2.0 | 2.0 | 1372 | $2,900 | $2.11 | 17d | 1 | 1.27mi |
| 9226 NE 184th Pl Bothell, WA | 3.0 | 1.5 | 1250 | $3,500 | $2.80 | 13d | 1 | 1.31mi |
| 18530 92nd Ave NE Bothell, WA | 3.0 | 1.5 | 1680 | $2,995 | $1.78 | 32d | 1 | 1.31mi |
| 9505 NE 180th St Unit 102 Bothell, WA | 2.0 | 2.0 | 1070 | $2,549 | $2.38 | 37d | 1 | 1.38mi |
| 17917 95th Pl NE Unit 203 Bothell, WA | 2.0 | 2.0 | 1070 | $2,495 | $2.33 | 41d | 1 | 1.40mi |
| 9525 NE 180th St Unit 303 Bothell, WA | 2.0 | 2.0 | 1080 | $2,349 | $2.17 | 37d | 1 | 1.43mi |
Property features AI
Finance
- Financial info
- Land lease: $1,179Listing terms: Cash
- HOA & community
- Located in a senior community (Inglewood East Shores)Clubhouse and common areaCommunity waterfront accessLaundry available in parkApproximately 78 homes in the parkPets allowed: cats and dogs (see remarks)
Exterior
- Parking
- Carport
- Utilities
- Public water (NUD)Public sewer (NUD)Electric power (PSE)Electric water heater located in closet
- Home design
- Manufactured single-wide homeOne levelAverage conditionHas viewKentwood make, model 64/24Mobile home remainsBath off primary
- Construction
- Metal skirtMetal/vinyl construction materialsFlat roof
- Exterior features
- Metal/vinyl exteriorOn waterfrontPaved lotOutdoor storage
Interior
- Kitchen
- DishwasherGarbage disposalRefrigeratorStove/Range
- Bedrooms
- 2 bedrooms
- Flooring
- VinylCarpet
- Bathrooms
- 1 full bath1 three-quarter bath1 bathtub2 showers
- Heating & cooling
- Forced air heatingHeat pump cooling
- Interior features
- Wood-burning fireplaceWater heaterCeiling fan(s)Double-pane windowsDrapesPatio/porch/deckWalk-in closet
- Laundry & utility
- WasherDryerUtility room
Listing history 50 events
-
2026-08-08days on market $129,000 Active 86 DOM
-
2026-08-06days on market $129,000 Active 84 DOM
-
2026-08-05days on market $129,000 Active 83 DOM
-
2026-08-04days on market $129,000 Active 82 DOM
-
2026-08-03days on market $129,000 Active 81 DOM
-
2026-07-31days on market $129,000 Active 78 DOM
-
2026-07-30days on market $129,000 Active 76 DOM
-
2026-07-28days on market $129,000 Active 75 DOM
-
2026-07-26days on market $129,000 Active 73 DOM
-
2026-07-24days on market $129,000 Active 71 DOM
-
2026-07-23days on market $129,000 Active 70 DOM
-
2026-07-22days on market $129,000 Active 69 DOM
-
2026-07-21days on market $129,000 Active 68 DOM
-
2026-07-20days on market $129,000 Active 67 DOM
-
2026-07-18days on market $129,000 Active 65 DOM
-
2026-07-18days on market $129,000 Active 64 DOM
-
2026-07-16days on market $129,000 Active 63 DOM
-
2026-07-15days on market $129,000 Active 62 DOM
-
2026-07-14days on market $129,000 Active 61 DOM
-
2026-07-13days on market $129,000 Active 60 DOM
-
2026-07-13days on market $129,000 Active 59 DOM
-
2026-07-11days on market $129,000 Active 58 DOM
-
2026-07-10days on market $129,000 Active 57 DOM
-
2026-07-09days on market $129,000 Active 56 DOM
-
2026-07-07days on market $129,000 Active 54 DOM
-
2026-07-06days on market $129,000 Active 53 DOM
-
2026-07-06days on market $129,000 Active 52 DOM
-
2026-07-05days on market $129,000 Active 51 DOM
-
2026-07-03days on market $129,000 Active 50 DOM
-
2026-07-02days on market $129,000 Active 49 DOM
-
2026-07-01days on market $129,000 Active 48 DOM
-
2026-06-30days on market $129,000 Active 47 DOM
-
2026-06-29days on market $129,000 Active 46 DOM
-
2026-06-28days on market $129,000 Active 45 DOM
-
2026-06-27days on market $129,000 Active 44 DOM
-
2026-06-26days on market $129,000 Active 43 DOM
-
2026-06-24days on market $129,000 Active 41 DOM
-
2026-06-22days on market $129,000 Active 39 DOM
-
2026-06-21days on market $129,000 Active 38 DOM
-
2026-06-18days on market $129,000 Active 35 DOM
-
2026-06-17days on market $129,000 Active 34 DOM
-
2026-06-16days on market $129,000 Active 33 DOM
-
2026-06-15days on market $129,000 Active 32 DOM
-
2026-06-13days on market $129,000 Active 30 DOM
-
2026-06-13days on market $129,000 Active 29 DOM
-
2026-06-09days on market $129,000 Active 26 DOM
-
2026-06-08days on market $129,000 Active 25 DOM
-
2026-06-07days on market $129,000 Active 24 DOM
-
2026-06-04days on market $129,000 Active 21 DOM
-
2026-06-03days on market $129,000 Active 20 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 9/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
- Wildfire 1/10 Low
- Heat 3/10 Moderate 7 d/yr ≥86°F today · 16 d/yr by 30 yrs out
- Wind 1/10 Low
- Air quality 6/10 Major 9 unhealthy d/yr today · 9 by 30 yrs out
Nearby sold comps map
Loading sold comps map…
Walkable amenities ~0.75 mi
Loading nearby amenities…
Taxation est. · year 1
- Rental income
- $26,202
- − Mortgage interest
- −$7,226
- − Property taxes
- −$1,935
- − Insurance
- −$1,442
- − Repairs & maintenance
- −$2,096
- − Management
- −$2,096
- − Depreciation
- −$3,753
- Taxable income
- $7,653
- Est. tax owed @ 24.0%
- −$1,837
- After-tax cash flow
- $7,367/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 · 9 photos
This home is move-in ready with cosmetic updates needed to modernize the kitchen and bathrooms, and some maintenance required for painting and landscaping. The property's location and amenities make it a good investment opportunity.
Deferred maintenance Est. $10,000–$30,000 screening
- Major Roof (roof|hvac|water heater|windows|electrical|plumbing|exterior|other) — The roof appears to be in poor condition with visible damage and missing shingles.
Repairs flagged
- Minor Kitchen flooring — Yellow linoleum is dated and could be replaced.
- Minor Kitchen cabinetry — Dated style and could be updated.
- Minor Kitchen appliances — Older style and could be replaced.
- Minor Bathroom fixtures — Dated style and could be updated.
Value-add opportunities
- Resale New kitchen flooring — Fresh linoleum would modernize the kitchen and appeal to buyers. ↑
- Resale New kitchen cabinetry — Modern cabinetry would enhance the kitchen's appearance and functionality. ↑
- Resale New kitchen appliances — Up-to-date appliances would make the kitchen more attractive to potential buyers. ↑
- Resale New bathroom fixtures — Modern fixtures would improve the bathroom's appearance and functionality. ↑
- Both Landscaping — Fresh landscaping would enhance curb appeal and add value to the property. ↑
ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.
Zoned Schools
Schools (NCES district)
- District
- Northshore School District
- NCES district ID
- 5305910
- Math proficiency
- 69% ▼ -3.00%
- Reading proficiency
- 78% ▼ -1.00%
- Median HH income
- $92,951
- Composite
- 67.41/100
- National rank
- #826
- State rank
- #9 of 291 in WA
Livability — Kenmore
- Score
- 86/100
- State rank
- #21
- US rank
- #427
Category grades
Schools grade is shown separately in the Schools card above.
Census & demographics
- Census place
- Kenmore, WA
- County
- King County · 2,576,485 people
- City population
- 23,741
- Metro
- Seattle-Tacoma-Bellevue, WA
- Population (ZIP)
- 23,741
- Household income
- $139,764
- Rent vs Own
- Severe rent burden
- 17% of renters
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 0.55)
- Race & ethnicity
- White 64% Asian 15% Hispanic / Latino 11% Two or more races 10% Black 3%
- Hispanic origin (detail)
- Mexican 8%
- Common ancestry
- Portuguese 5% Italian 4% Slovak 2%
- Foreign-born
- 22% · Canada, China, South Korea
- Languages at home
- 73% English-only · Spanish 7% Chinese 5% Other Indo-European 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
- ▼ -907.61%
- Current HPI
- 392.3867
- Rent YoY
- ▲ 2.09%
- 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
+35.9% since first listed4 events — show timeline
- 2026-05-14 Listed $129,000 NWMLS as Distributed by MLS Grid
- 2020-03-10 Sold (MLS) $85,000 NWMLS as Distributed by MLS Grid
- 2020-02-21 Pending — NWMLS as Distributed by MLS Grid
- 2020-01-30 Listed $94,900 NWMLS as Distributed by MLS Grid
Cash-flow waterfall
monthlySold comps — $/sqft
last 12 mo · ≤1 miLoading sold comps…