11436 SE 208th St #7 · Kent, WA 98031

$100,000

2 bd · 2.0 ba · 1,344 sqft · Manufactured · 140 Days on market

Manufactured home Built 1980 Good condition $74/sqft · 20% below area Est $124k · 20% 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.8/10.0
• Livability +4.0/5.0
• Condition / age +3.8/5.0
• Rent growth +3.4/5.0
• Appreciation +2.5/10.0
• Manufactured-home adj. -6.7

Listing remarks

Motivated Seller! Bring your offers and enjoy peaceful, easy living with exceptional outdoor space in this beautifully updated home in Pantera Lago. Situated on a desirable perimeter lot, this property offers a quiet setting along with a spacious wrap-around covered deck—perfect for relaxing, entertaining, or enjoying the outdoors year-round. Inside, the home features a bright, open layout with updated finishes throughout, creating a clean and inviting atmosphere. The living spaces flow comfortably, making everyday living simple and enjoyable. The kitchen offers modern touches and functionality, while the primary suite provides a private retreat with added comfort.

Key facts

• Perimeter lot
• Heat pump
• Newer roof

Tags

• PERIMETER LOT
• VAULTED CEILINGS
• OPEN-CONCEPT LAYOUT
• WRAP-AROUND COVERED DECK
• NEWER ROOF
• HEAT PUMP

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $100k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $788 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Recommended offer: $88k (12.0% below list) — sets the bar for market timing.
• Cap rate 15.7% vs local median 2.7% in Kent — 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 79/100 on livability (#109 in WA, #2,154 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, housing A+; Watch: crime F, cost of living F.
• Kent School District (urban): math 47% / reading 57% proficiency, ranked #109 of 291 in WA (top 38%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Glenridge Elementary (446 students, 58% FRL); Meeker Middle School (603 students, 74% FRL); Kentridge High School (2,034 students, 42% FRL) — zoned schools average 58% FRL vs 41% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+3.5%/yr); 238 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals lingering (median 67d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 80% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 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 $691 of loan paydown is wiped out by about $3k 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 + 3.5% rent growth), your $28k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 140 days — a 12% lower offer ($88k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 23y ago; this cycle's ask has dropped $30k (23%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $74k; 35% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $88,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 140 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
5. 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.
6. 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.
7. 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: 1.87% ✓
• Cap rate: 15.75%
• Cash-on-cash: 33.77%
• DSCR: 2.50
• GRM: 4.5

CMA / ARV

• ARV (median comp): $124,296
• List price: $100,000
• Delta: -19.55%
• Verdict: UNDERPRICED
• Comps: 11 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
11436 SE 208th St #180	0.00mi	2/2.0	1,440 (+7%)	7mo	$132,500	$92	82
11436 SE 208th St #136	0.12mi	2/2.0	1,152 (-14%)	1mo	$65,000	$56	70
11436 SE 208th St #88	0.06mi	3/2.0 (+1)	1,464 (+9%)	10mo	$126,000	$86	69
20750 113th Pl SE	0.16mi	3/2.0 (+1)	1,456 (+8%)	6mo	$65,000	$45	69
11436 SE 208th St #36	0.06mi	3/2.0 (+1)	1,500 (+12%)	7mo	$168,000	$112	67
11436 SE 208th St #170	0.06mi	2/2.0	1,250 (-7%)	23mo	$130,000	$104	66
20744 113th Pl SE	0.16mi	2/2.0	1,250 (-7%)	24mo	$105,000	$84	61
11436 SE 208th St #116	0.06mi	2/2.0	1,498 (+12%)	22mo	$145,000	$97	60
11436 SE 208th St #92	0.00mi	3/2.0 (+1)	1,536 (+14%)	18mo	$133,500	$87	56
12218 SE 206th St	0.54mi	3/2.0 (+1)	1,480 (+10%)	8mo	$415,000	$280	46

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 · 3.53% rent growth · sell at horizon

5-year hold

• IRR: 29.7%
• Equity multiple: 2.25×
• Total profit: $35,008
• Equity at exit: $14,910

10-year hold

• IRR: 37.3%
• Equity multiple: 4.55×
• Total profit: $99,376
• Equity at exit: $8,646

Cash invested: $28,000 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 9 active · 4 under contract
• Months of supply: 10.8 mo (9%/mo absorbed)
• Median asking: $115,000 ($84/sqft)
• Median days on market: 153 d
• This list price: 33% of active listings are priced below it
• ARV vs active asking: +10.1% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 98031

• Rents YoY: 3.5%
• Active inventory: 238
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $1,872 high
• Mortgage (P&I): −$524
• Tax est. 1.5%: −$125 /mo · $1,500/yr
• Insurance: −$42
• HOA: −$0
• Lot rent leased land?: −$0
• Vacancy / Maint / Mgmt: −$393
• Net cashflow: $788

Break-even live

Break-even rent $875

Max offer price $100,000

Occupancy floor 53%

Sensitivity live

Price	-10% $857	-5% $822	+0% $788	+5% $753	+10% $719
Rent	-10% $640	-5% $714	+0% $788	+5% $862	+10% $936
Rate	-1.0pp $838	-0.5pp $813	base $788	+0.5pp $762	+1.0pp $736

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: $25,000
• Closing costs: $3,000
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
20803 110th Ln SE Kent, WA	2.0	2.5	1361	$2,845	$2.09	93d	1	0.30mi
20805 109th Ln SE Kent, WA	2.0	1.5	1250	$2,700	$2.16	93d	1	0.33mi
11101 SE 208th St Kent, WA	1.0–3.0	1.0–2.0	971	$2,104	$2.17	12d	19	0.36mi
12012 SE 210th St Kent, WA	3.0	1.5	1230	$1,820	$1.48	73d	1	0.47mi
20506 103rd Ave SE Kent, WA	3.0	1.0	1180	$2,295	$1.94	73d	1	0.67mi
19388 114th Pl SE Kent, WA	3.0	2.5	1600	$3,095	$1.93	93d	1	0.75mi
21822 107th Pl SE #6 Kent, WA	3.0	1.5	1152	$1,525	$1.32	71d	1	0.90mi
21232 127th Pl SE Kent, WA	3.0	1.5	1100	$1,550	$1.41	34d	1	0.97mi
11500 SE 221st Pl Kent, WA	3.0	2.5	1770	$3,100	$1.75	93d	1	1.02mi
21627 127th Pl SE Kent, WA	3.0	2.0	1420	$3,095	$2.18	66d	1	1.09mi
18870 108th Ln SE Renton, WA	3.0	2.5	1790	$2,999	$1.68	13d	1	1.13mi
10716 SE 224th Pl Kent, WA	3.0	2.0	1200	$2,900	$2.42	36d	1	1.24mi
9333 S 200th St Kent, WA	3.0	1.0	1060	$2,450	$2.31	53d	1	1.29mi
11211 SE 226th St Kent, WA	3.0	2.0	1012	$2,250	$2.22	67d	1	1.31mi
18307 121st Pl SE Renton, WA	3.0	2.5	1580	$2,895	$1.83	10d	1	1.49mi

Listing history 50 events

1. 2026-08-08
   days on market $100,000 Active 140 DOM
2. 2026-08-06
   days on market $100,000 Active 138 DOM
3. 2026-08-05
   days on market $100,000 Active 137 DOM
4. 2026-08-04
   days on market $100,000 Active 136 DOM
5. 2026-08-03
   days on market $100,000 Active 135 DOM
6. 2026-07-31
   days on market $100,000 Active 132 DOM
7. 2026-07-30
   days on market $100,000 Active 131 DOM
8. 2026-07-30
   days on market $100,000 Active 130 DOM
9. 2026-07-28
   days on market $100,000 Active 129 DOM
10. 2026-07-26
    days on market $100,000 Active 127 DOM
11. 2026-07-24
    days on market $100,000 Active 125 DOM
12. 2026-07-23
    days on market $100,000 Active 124 DOM
13. 2026-07-22
    days on market $100,000 Active 123 DOM
14. 2026-07-21
    days on market $100,000 Active 122 DOM
15. 2026-07-20
    days on market $100,000 Active 121 DOM
16. 2026-07-18
    days on market $100,000 Active 119 DOM
17. 2026-07-18
    days on market $100,000 Active 118 DOM
18. 2026-07-16
    days on market $100,000 Active 117 DOM
19. 2026-07-15
    days on market $100,000 Active 116 DOM
20. 2026-07-14
    days on market $100,000 Active 115 DOM
21. 2026-07-13
    days on market $100,000 Active 114 DOM
22. 2026-07-13
    days on market $100,000 Active 113 DOM
23. 2026-07-11
    days on market $100,000 Active 112 DOM
24. 2026-07-10
    days on market $100,000 Active 111 DOM
25. 2026-07-09
    days on market $100,000 Active 110 DOM
26. 2026-07-07
    days on market $100,000 Active 108 DOM
27. 2026-07-06
    days on market $100,000 Active 107 DOM
28. 2026-07-06
    days on market $100,000 Active 106 DOM
29. 2026-07-05
    days on market $100,000 Active 105 DOM
30. 2026-07-03
    days on market $100,000 Active 104 DOM
31. 2026-07-02
    days on market $100,000 Active 103 DOM
32. 2026-07-01
    days on market $100,000 Active 102 DOM
33. 2026-06-30
    days on market $100,000 Active 101 DOM
34. 2026-06-29
    days on market $100,000 Active 100 DOM
35. 2026-06-28
    days on market $100,000 Active 99 DOM
36. 2026-06-27
    days on market $100,000 Active 98 DOM
37. 2026-06-26
    pricedays on market $100,000 Active 97 DOM
38. 2026-06-24
    days on market $120,000 Active 95 DOM
39. 2026-06-22
    days on market $120,000 Active 93 DOM
40. 2026-06-21
    days on market $120,000 Active 92 DOM
41. 2026-06-18
    days on market $120,000 Active 89 DOM
42. 2026-06-17
    days on market $120,000 Active 88 DOM
43. 2026-06-16
    days on market $120,000 Active 87 DOM
44. 2026-06-15
    days on market $120,000 Active 86 DOM
45. 2026-06-13
    days on market $120,000 Active 84 DOM
46. 2026-06-09
    days on market $120,000 Active 80 DOM
47. 2026-06-08
    days on market $120,000 Active 79 DOM
48. 2026-06-07
    days on market $120,000 Active 78 DOM
49. 2026-06-04
    days on market $120,000 Active 75 DOM
50. 2026-06-03
    days on market $120,000 Active 74 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥87°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 8/10 Severe 12 unhealthy d/yr today · 12 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,465
• − Mortgage interest: −$5,602
• − Property taxes: −$1,500
• − Insurance: −$500
• − Repairs & maintenance: −$1,797
• − Management: −$1,797
• − Depreciation: −$2,909
• Taxable income: $8,360
• Est. tax owed @ 24.0%: −$2,006
• After-tax cash flow: $7,448/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 · 2 photos

Good 75/100 Cosmetic rehab Est. rehab $6,720–$20,160 screening

This manufactured home is in good condition with a good condition score of 75. It is ready for a motivated seller to bring offers and enjoy peaceful, easy living with exceptional outdoor space.

Value-add opportunities

• Both Painting the exterior — Enhances curb appeal and value ↑
• Both Landscaping improvements — Enhances curb appeal and value ↑
• Both Interior touch-ups — Enhances interior aesthetics and value ↑

ⓘ 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 Glenridge Elementary Middle Meeker Middle School High Kentridge High School

Schools (NCES district)

• District: Kent School District
• NCES district ID: 5303960
• Math proficiency: 47% ▼ -1.00%
• Reading proficiency: 57% ▼ -1.00%
• Median HH income: $69,823
• Composite: 48.25/100
• National rank: #4714
• State rank: #109 of 291 in WA

B Composite livability gradescore 79/100

Livability — Kent

• Score: 79/100
• State rank: #109
• US rank: #2154

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Kent, WA
• County: King County · 2,576,485 people
• City population: 119,479
• Metro: Seattle-Tacoma-Bellevue, WA
• Population (ZIP): 40,094
• Household income: $105,965
• Rent vs Own: 32.8% rent · 67.2% own
• Severe rent burden: 12% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.77)
• Race & ethnicity: White 36% Asian 27% Black 13% Hispanic / Latino 13% Two or more races 13% Pacific Islander 1%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Italian 5% Portuguese 2% Subsaharan African 2%
• Foreign-born: 31% · Canada, Vietnam, China
• Languages at home: 58% English-only · Spanish 9% Other Indo-European 7% Vietnamese 4%

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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: ▼ -673.58%
• Current HPI: 308.1747
• Rent YoY: ▲ 3.53%
• Metro: Seattle-Tacoma-Bellevue, WA
• State GDP YoY: ▲ 4.65%
• F500 in state: 22

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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

+300.1% since first listed

17 events — show timeline

• 2026-04-24 Price Changed $120,000 NWMLS as Distributed by MLS Grid
• 2026-03-21 Listed $130,000 NWMLS as Distributed by MLS Grid
• 2019-02-28 Sold (MLS) $74,000 NWMLS as Distributed by MLS Grid
• 2019-02-28 Pending — NWMLS as Distributed by MLS Grid
• 2019-02-20 Pending — NWMLS as Distributed by MLS Grid
• 2019-02-07 Listed $74,000 NWMLS as Distributed by MLS Grid
• 2014-10-07 Delisted — NWMLS as Distributed by MLS Grid
• 2014-10-03 Sold (MLS) $65,000 NWMLS as Distributed by MLS Grid
• 2014-09-18 Pending — NWMLS as Distributed by MLS Grid
• 2014-09-12 Pending — NWMLS as Distributed by MLS Grid
• 2014-08-23 Listed $70,000 NWMLS as Distributed by MLS Grid
• 2007-05-04 Sold (MLS) $36,000 NWMLS as Distributed by MLS Grid
• 2007-01-02 Listed $46,000 NWMLS as Distributed by MLS Grid
• 2004-08-26 Sold (MLS) $32,500 NWMLS as Distributed by MLS Grid
• 2004-05-03 Listed $32,500 NWMLS as Distributed by MLS Grid
• 2003-04-30 Sold (MLS) $25,000 NWMLS as Distributed by MLS Grid
• 2003-01-06 Listed $29,990 NWMLS as Distributed by MLS Grid