7301 NE 175th St #215 · Kenmore, WA 98028

$129,000

2 bd · 2.0 ba · 1,536 sqft · Manufactured · 35 Days on market

Built 1972 $84/sqft · 48% below area Est $246k · 48% under

---

Why this score? — see what drove the A- 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 +6.7/10.0
• Livability +4.3/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

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. Major upgrades include a heat pump for year-round co

Key facts

• Clubhouse
• Heat pump
• Newer roof

Tags

• WATERFRONT ACCESS
• COMMUNITY DOCK
• CLUBHOUSE
• HEAT PUMP
• NEWER ROOF
• DOUBLE-PANE WINDOWS

Property features AI

Finance

• Financial info: Land lease: $1,179; Listing terms: Cash
• HOA & community: Located in a senior community (Inglewood East Shores); Clubhouse and common area; Community waterfront access; Laundry available in park; Approximately 78 homes in the park; Pets 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 home; One level; Average condition; Has view; Kentwood make, model 64/24; Mobile home remains; Bath off primary
• Construction: Metal skirt; Metal/vinyl construction materials; Flat roof
• Exterior features: Metal/vinyl exterior; On waterfront; Paved lot; Outdoor storage

Interior

• Kitchen: Dishwasher; Garbage disposal; Refrigerator; Stove/Range
• Bedrooms: 2 bedrooms
• Flooring: Vinyl; Carpet
• Bathrooms: 1 full bath; 1 three-quarter bath; 1 bathtub; 2 showers
• Heating & cooling: Forced air heating; Heat pump cooling
• Interior features: Wood-burning fireplace; Water heater; Ceiling fan(s); Double-pane windows; Drapes; Patio/porch/deck; Walk-in closet
• Laundry & utility: Washer; Dryer; Utility room

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $129k.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $129k).
• Recommended offer: $125k (3.0% below list) — sets the bar for market timing.
• Cap rate 19.0% vs local median 1.6% 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.
• Market conditions: Rents rising (+2.1%/yr); 190 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals leasing fast (median 11d 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).

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 ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($125k) 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.

Recommended offer $125,130 (3.0% below list)

Questions for the listing agent

1. It's been on market 35 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 2.22% ✓
• Cap rate: 19.05%
• Cash-on-cash: 45.55%
• DSCR: 3.03
• GRM: 3.8

CMA / ARV

• ARV (median comp): $246,500
• List price: $129,000
• Delta: -47.67%
• Verdict: UNDERPRICED
• Comps: 4 within 1.0 mi

Show comp detail 2 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%)	3mo	$235,000	$146	82
7031 NE 175th St #34	0.15mi	2/2.0	1,400 (-9%)	19mo	$215,000	$154	62

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

5-year hold

• IRR: 39.2%
• Equity multiple: 2.65×
• Total profit: $59,670
• Equity at exit: $19,234

10-year hold

• IRR: 45.1%
• Equity multiple: 5.12×
• Total profit: $148,820
• 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

Just-cause statewide (2021); Seattle layers rent control restrictions + relocation assistance; very tenant-friendly.

Methodology + full state rankings →

ZIP-level market 98028

• Rents YoY: 2.1%
• Active inventory: 190
• Price-to-rent: 3.8×

Monthly cashflow live

• Estimated rent: $2,864 high
• 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
• Vacancy / Maint / Mgmt: −$601
• Net cashflow: $1,305

Break-even live

Break-even rent $1,213

Max offer price $129,000

Occupancy floor 49%

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
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
17525 80th Ave NE Kenmore, WA	1.0–2.0	1.0–2.0	900	$1,999	$2.22	5d	4	0.42mi
17811 80th Ave NE Kenmore, WA	2.0	2.5	1437	$3,000	$2.09	44d	1	0.43mi
17827 80th Ave NE Unit B102 Kenmore, WA	3.0	2.0	1346	$3,000	$2.23	24d	1	0.44mi
17921 80th Ave NE Unit A3 Kenmore, WA	3.0	2.5	1262	$3,000	$2.38	18d	1	0.46mi
6711 NE 182nd St Kenmore, WA	1.0–2.0	1.0–2.0	899	$2,644	$2.94	3d	10	0.55mi
7000 NE 186th Pl Kenmore, WA	2.0–3.0	2.5	1441	$3,284	$2.28	2d	6	0.59mi
8700 NE Bothell Way Bothell, WA	1.0–3.0	1.0–2.0	1038	$2,098	$2.02	2d	8	0.87mi
6125 NE 175th St Unit M102 Kenmore, WA	2.0	2.0	1462	$3,850	$2.63	24d	1	0.87mi
8837 NE 178th St Bothell, WA	3.0	2.5	1965	$3,700	$1.88	11d	1	0.97mi
9226 NE 184th Pl Bothell, WA	3.0	1.5	1250	$3,900	$3.12	5d	1	1.31mi
18530 92nd Ave NE Bothell, WA	3.0	1.5	1680	$3,195	$1.90	15d	1	1.31mi
9505 NE 180th St Unit 102 Bothell, WA	2.0	2.0	1070	$2,595	$2.43	11d	1	1.38mi
9525 NE 180th St Unit 303 Bothell, WA	2.0	2.0	1080	$2,375	$2.20	5d	1	1.43mi

Listing history 18 events

1. 2026-06-18
   days on market $129,000 Active 35 DOM
2. 2026-06-17
   days on market $129,000 Active 34 DOM
3. 2026-06-16
   days on market $129,000 Active 33 DOM
4. 2026-06-15
   days on market $129,000 Active 32 DOM
5. 2026-06-13
   days on market $129,000 Active 30 DOM
6. 2026-06-13
   days on market $129,000 Active 29 DOM
7. 2026-06-09
   days on market $129,000 Active 26 DOM
8. 2026-06-08
   days on market $129,000 Active 25 DOM
9. 2026-06-07
   days on market $129,000 Active 24 DOM
10. 2026-06-04
    days on market $129,000 Active 21 DOM
11. 2026-06-03
    days on market $129,000 Active 20 DOM
12. 2026-06-02
    days on market $129,000 Active 19 DOM
13. 2026-06-01
    days on market $129,000 Active 18 DOM
14. 2026-05-31
    days on market $129,000 Active 17 DOM
15. 2026-05-14
    listed $129,000 Active
16. 2020-03-10
    soldstatus $85,000 Sold
17. 2020-02-21
    status Pending
18. 2020-01-30
    listed $94,900 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 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

Taxation est. · year 1

• Rental income: $34,367
• − Mortgage interest: −$7,226
• − Property taxes: −$1,935
• − Insurance: −$1,442
• − Repairs & maintenance: −$2,749
• − Management: −$2,749
• − Depreciation: −$3,753
• Taxable income: $14,512
• Est. tax owed @ 24.0%: −$3,483
• After-tax cash flow: $12,172/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: 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

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Kenmore, WA
• County: King County · 2,251,916 people
• City population: 23,741
• Metro: Seattle-Tacoma-Bellevue, WA
• Population (ZIP): 23,741
• Household income: $139,764
• Rent vs Own: 30.7% rent · 69.3% own
• Severe rent burden: 557.0

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 0.55)
• 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 listed

4 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