21911 SE 107th Pl #15 · Kent, WA 98031

$150,000

2 bd · 2.0 ba · 1,344 sqft · Manufactured · 80 Days on market

Built 1979 Fair condition $112/sqft · 7% below area Est $161k · 7% 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 +10.6/15.0
• DSCR +10.0/10.0
• 1% rule +9.4/10.0
• Schools +4.8/10.0
• Livability +4.0/5.0
• Rent growth +3.4/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome home to this spacious Manufactured Home in a welcoming 55+ community. Featuring 1,344 sq ft, this home has 2 bedrooms, 2 baths, and an open-concept layout. This offers you comfort, functionality, and plenty of storage. All appliances are included, making it truly move-in ready. Take advantage of community amenities like the clubhouse and pool, perfect for relaxing or socializing. The big covered deck and carport offer opportunities for outside living. Affordable lot rent of $939 per month. Park approval is required, and financing resources are available to help make your move simple. Let us know how we can help make your move easy.

Key facts

• Clubhouse
• Community amenities
• Carport

Tags

• OPEN-CONCEPT LAYOUT
• COMMUNITY AMENITIES
• CLUBHOUSE
• POOL
• BIG COVERED DECK
• CARPORT

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $150k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $673 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $141k (6.0% below list) — sets the bar for market timing.
• Cap rate 11.7% vs local median 2.6% 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: schools C-, 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.
• Market conditions: Rents rising (+3.5%/yr); 169 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $1k 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 + 3.5% rent growth), your $42k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 80 days — a 6% lower offer ($141k) is reasonable based on typical stale-listing flexibility.

Recommended offer $141,000 (6.0% below list)

Questions for the listing agent

1. It's been on market 80 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 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 1.44% ✓
• Cap rate: 11.67%
• Cash-on-cash: 19.22%
• DSCR: 1.86
• GRM: 5.8

CMA / ARV

• ARV (median comp): $161,158
• List price: $150,000
• Delta: -6.92%
• Verdict: FAIR
• Comps: 19 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
21908 107th Ave SE #22	0.02mi	2/2.0	1,440 (+7%)	7mo	$115,000	$80	82
21821 107th Pl SE #13	0.05mi	3/2.0 (+1)	1,440 (+7%)	3mo	$67,000	$47	79
22065 106th Pl SE #75	0.13mi	2/2.0	1,450 (+8%)	4mo	$50,000	$34	77
21916 107th Pl SE	0.03mi	3/2.0 (+1)	1,440 (+7%)	8mo	$161,200	$112	76
21914 106th Pl SE #36	0.06mi	2/2.0	1,152 (-14%)	9mo	$145,000	$126	66
10921 SE 227TH Pl	0.56mi	3/2.0 (+1)	1,248 (-7%)	2mo	$155,000	$124	55
11143 SE 226th St	0.52mi	3/2.0 (+1)	1,183 (-12%)	1mo	$155,000	$131	50
22620 SE 109th Pl	0.52mi	3/2.0 (+1)	1,150 (-14%)	4mo	$179,000	$156	43
22628 110th Ct SE	0.53mi	3/2.0 (+1)	1,152 (-14%)	5mo	$165,000	$143	42
22603 115th Pl SE	0.62mi	3/2.0 (+1)	1,536 (+14%)	3mo	$470,000	$306	40
22627 112th Ave SE	0.58mi	3/2.0 (+1)	1,536 (+14%)	9mo	$459,000	$299	37
11427 SE 226th St	0.62mi	3/1.0 (+1)	1,152 (-14%)	7mo	$390,000	$339	33

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: 11.8%
• Equity multiple: 1.47×
• Total profit: $19,730
• Equity at exit: $22,365

10-year hold

• IRR: 21.2%
• Equity multiple: 2.84×
• Total profit: $77,293
• Equity at exit: $12,969

Cash invested: $42,000 (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 →

ZIP-level market 98031

• Rents YoY: 3.5%
• Active inventory: 169
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $2,164 high
• Mortgage (P&I): −$787
• Tax est. 1.5%: −$188 /mo · $2,250/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$454
• Net cashflow: $673

Break-even live

Break-even rent $1,312

Max offer price $150,000

Occupancy floor 64%

Sensitivity live

Price	-10% $776	-5% $725	+0% $673	+5% $621	+10% $569
Rent	-10% $502	-5% $587	+0% $673	+5% $758	+10% $844
Rate	-1.0pp $748	-0.5pp $711	base $673	+0.5pp $634	+1.0pp $594

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
21822 107th Pl SE #6 Kent, WA	3.0	1.5	1152	$1,525	$1.32	23d	1	0.03mi
11500 SE 221st Pl Kent, WA	3.0	2.5	1770	$3,100	$1.75	45d	1	0.45mi
10820 SE 211th Pl Kent, WA	1.0–3.0	1.0–1.5	907	$1,966	$2.17	0d	20	0.57mi
11101 SE 208th St Kent, WA	1.0–3.0	1.0–2.0	971	$2,026	$2.09	0d	18	0.58mi
11211 SE 226th St Kent, WA	3.0	2.0	1012	$2,250	$2.22	19d	1	0.58mi
10530 SE 229th Pl Kent, WA	3.0	1.0	1000	$3,000	$3.00	45d	1	0.65mi
20803 110th Ln SE Kent, WA	2.0	2.5	1361	$2,845	$2.09	45d	1	0.67mi
20805 109th Ln SE Kent, WA	2.0	1.5	1250	$2,700	$2.16	45d	1	0.68mi
20506 103rd Ave SE Kent, WA	3.0	1.0	1180	$2,295	$1.94	25d	1	0.90mi
12012 SE 210th St Kent, WA	3.0	1.5	1230	$1,820	$1.48	25d	1	1.03mi
23613 112th Ave SE Apt J103 Kent, WA	2.0	2.0	882	$2,000	$2.27	13d	1	1.13mi
22328 88th Ave S Kent, WA	3.0	3.0	1714	$3,695	$2.16	21d	1	1.14mi
22804 90th Way S Kent, WA	1.0–3.0	1.0–2.0	910	$1,794	$1.97	0d	19	1.15mi
9915 SE 235th Pl Kent, WA	3.0	2.0	1250	$2,750	$2.20	21d	1	1.15mi
23721 108th Ave SE Kent, WA	2.0	1.0	1000	$1,800	$1.80	25d	1	1.17mi
23817 108th Ave SE Kent, WA	1.0–2.0	1.0	874	$1,815	$2.08	4d	6	1.22mi
10811 SE 239th Pl Kent, WA	1.0–3.0	1.0–2.0	917	$1,898	$2.07	0d	25	1.24mi
21627 127th Pl SE Kent, WA	3.0	2.0	1420	$3,095	$2.18	18d	1	1.25mi
24028 110th Pl SE Kent, WA	1.0–3.0	1.0–2.0	1050	$2,214	$2.11	0d	8	1.41mi
9333 S 200th St Kent, WA	3.0	1.0	1060	$2,450	$2.31	5d	1	1.42mi

Listing history 15 events

1. 2026-06-21
   days on market $150,000 Active 80 DOM
2. 2026-06-18
   days on market $150,000 Active 77 DOM
3. 2026-06-17
   days on market $150,000 Active 76 DOM
4. 2026-06-16
   days on market $150,000 Active 75 DOM
5. 2026-06-15
   days on market $150,000 Active 74 DOM
6. 2026-06-13
   days on market $150,000 Active 72 DOM
7. 2026-06-09
   days on market $150,000 Active 68 DOM
8. 2026-06-08
   days on market $150,000 Active 67 DOM
9. 2026-06-07
   days on market $150,000 Active 66 DOM
10. 2026-06-04
    days on market $150,000 Active 63 DOM
11. 2026-06-03
    days on market $150,000 Active 62 DOM
12. 2026-06-02
    days on market $150,000 Active 61 DOM
13. 2026-06-01
    days on market $150,000 Active 60 DOM
14. 2026-05-31
    days on market $150,000 Active 59 DOM
15. 2026-04-02
    listed $150,000 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 ≥87°F today · 14 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: $25,964
• − Mortgage interest: −$8,402
• − Property taxes: −$2,250
• − Insurance: −$750
• − Repairs & maintenance: −$2,077
• − Management: −$2,077
• − Depreciation: −$4,364
• Taxable income: $6,044
• Est. tax owed @ 24.0%: −$1,451
• After-tax cash flow: $6,622/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 · 12 photos

Fair 45/100 Moderate rehab

This manufactured home requires moderate renovations to update the kitchen and improve curb appeal, but is otherwise in good condition and move-in ready.

Repairs flagged

• Moderate Kitchen cabinets — Worn and dated appearance
• Moderate Kitchen countertops — Worn and dated appearance
• Minor Bathtub and fixtures — Functional but may need updating

Value-add opportunities

• Both Kitchen renovation — Updating the kitchen will improve both resale and rental value.
• Both Landscaping improvements — Enhancing the landscaping will improve curb appeal and potentially increase value.
• Both Painting — Touching up the paint will improve the home's appearance and value.
• Both New flooring — Replacing the carpet with a more modern and durable flooring option will improve both resale and rental value.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · Worn and dated appearance	Moderate	$3,000–15,000
Kitchen countertops · Worn and dated appearance	Moderate	$3,000–15,000
Bathtub and fixtures · Functional but may need updating	Minor	$500–3,000
Total estimated repair cost · 3 items		$6,500–33,000

Value-add ROI direction

• Both Kitchen renovation — Updating the kitchen will improve both resale and rental value. ↑
• Both Landscaping improvements — Enhancing the landscaping will improve curb appeal and potentially increase value. ↑
• Both Painting — Touching up the paint will improve the home's appearance and value. ↑
• Both New flooring — Replacing the carpet with a more modern and durable flooring option will improve both resale and rental value. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

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 · 2,251,916 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: 1151.0

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: 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%

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

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

1 event — show timeline

• 2026-04-02 Listed $150,000 NWMLS as Distributed by MLS Grid