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7301 NE 175th St #215
B- Composite 65.61
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

7301 NE 175th St #215 · Kenmore, WA 98028
2 bd · 2.0 ba · 1,536 sqft · Manufactured · 86 Days on market
Manufactured home 55+ age-restricted Built 1972 Fair condition $84/sqft · 49% below area Est $250k · 49% under

🖨 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

WATERFRONT ACCESSCOMMUNITY DOCKCLUBHOUSEHEAT PUMPNEWER ROOFDOUBLE-PANE WINDOWS

Neighborhood map

Property Rental comp Retail Costco Walmart Transit Schools Stadiums Fortune 500 · Circle radius: 6.0 mi
Loading POIs…

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.
Recommended offer $121,260 (6.0% below list)

Questions for the listing agent

  1. 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?
  2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
  3. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
  4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
  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. 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.
  9. 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.
  10. 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

5-year hold
IRR
18.0%
Equity multiple
1.72×
Total profit
$26,041
Equity at exit
$19,234
10-year hold
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
Just-cause statewide (2021); Seattle layers rent control restrictions + relocation assistance; very tenant-friendly.
Balanced market Market conditions within 1.0 mi — comparable homes for sale

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

Break-even rent $1,213
Max offer price $129,000
Occupancy floor 60%

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
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

AddressBedsBaths SqftRent$/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

  1. 2026-08-08
    days on market $129,000 Active 86 DOM
  2. 2026-08-06
    days on market $129,000 Active 84 DOM
  3. 2026-08-05
    days on market $129,000 Active 83 DOM
  4. 2026-08-04
    days on market $129,000 Active 82 DOM
  5. 2026-08-03
    days on market $129,000 Active 81 DOM
  6. 2026-07-31
    days on market $129,000 Active 78 DOM
  7. 2026-07-30
    days on market $129,000 Active 76 DOM
  8. 2026-07-28
    days on market $129,000 Active 75 DOM
  9. 2026-07-26
    days on market $129,000 Active 73 DOM
  10. 2026-07-24
    days on market $129,000 Active 71 DOM
  11. 2026-07-23
    days on market $129,000 Active 70 DOM
  12. 2026-07-22
    days on market $129,000 Active 69 DOM
  13. 2026-07-21
    days on market $129,000 Active 68 DOM
  14. 2026-07-20
    days on market $129,000 Active 67 DOM
  15. 2026-07-18
    days on market $129,000 Active 65 DOM
  16. 2026-07-18
    days on market $129,000 Active 64 DOM
  17. 2026-07-16
    days on market $129,000 Active 63 DOM
  18. 2026-07-15
    days on market $129,000 Active 62 DOM
  19. 2026-07-14
    days on market $129,000 Active 61 DOM
  20. 2026-07-13
    days on market $129,000 Active 60 DOM
  21. 2026-07-13
    days on market $129,000 Active 59 DOM
  22. 2026-07-11
    days on market $129,000 Active 58 DOM
  23. 2026-07-10
    days on market $129,000 Active 57 DOM
  24. 2026-07-09
    days on market $129,000 Active 56 DOM
  25. 2026-07-07
    days on market $129,000 Active 54 DOM
  26. 2026-07-06
    days on market $129,000 Active 53 DOM
  27. 2026-07-06
    days on market $129,000 Active 52 DOM
  28. 2026-07-05
    days on market $129,000 Active 51 DOM
  29. 2026-07-03
    days on market $129,000 Active 50 DOM
  30. 2026-07-02
    days on market $129,000 Active 49 DOM
  31. 2026-07-01
    days on market $129,000 Active 48 DOM
  32. 2026-06-30
    days on market $129,000 Active 47 DOM
  33. 2026-06-29
    days on market $129,000 Active 46 DOM
  34. 2026-06-28
    days on market $129,000 Active 45 DOM
  35. 2026-06-27
    days on market $129,000 Active 44 DOM
  36. 2026-06-26
    days on market $129,000 Active 43 DOM
  37. 2026-06-24
    days on market $129,000 Active 41 DOM
  38. 2026-06-22
    days on market $129,000 Active 39 DOM
  39. 2026-06-21
    days on market $129,000 Active 38 DOM
  40. 2026-06-18
    days on market $129,000 Active 35 DOM
  41. 2026-06-17
    days on market $129,000 Active 34 DOM
  42. 2026-06-16
    days on market $129,000 Active 33 DOM
  43. 2026-06-15
    days on market $129,000 Active 32 DOM
  44. 2026-06-13
    days on market $129,000 Active 30 DOM
  45. 2026-06-13
    days on market $129,000 Active 29 DOM
  46. 2026-06-09
    days on market $129,000 Active 26 DOM
  47. 2026-06-08
    days on market $129,000 Active 25 DOM
  48. 2026-06-07
    days on market $129,000 Active 24 DOM
  49. 2026-06-04
    days on market $129,000 Active 21 DOM
  50. 2026-06-03
    days 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

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Walkable amenities ~0.75 mi

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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
combined federal + state — saved on this device
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

Fair 45/100 Cosmetic rehab Est. rehab $7,680–$23,040 screening

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

Elementary Arrowhead Elementary Middle Kenmore Middle School High Inglemoor Hs

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
A Composite livability gradescore 86/100

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 · 2,576,485 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
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

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

Cash-flow waterfall

monthly

Sold comps — $/sqft

last 12 mo · ≤1 mi

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