12611 NE 145th Pl Unit H90 · Kirkland, WA 98034

$269,999

2 bd · 1.0 ba · 923 sqft · Condo · 133 Days on market

Built 1979 $293/sqft · 18% below area Est $330k · 18% under $662/mo HOA · 28% of rent

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Why this score? — see what drove the D- 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).

• ARV discount +15.0/15.0
• Schools +6.7/10.0
• Cash flow +4.9/30.0
• Livability +4.2/5.0
• 1% rule +3.8/10.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Ideal for first-time buyers or investors. Functional layout includes a wood-burning fireplace, private balcony, and washer/dryer hookups. Step into this bright, stylishly updated 2-bedroom condo in the heart of Kingsgate. Enjoy storage on the deck and in a secure storage room. The updated kitchen and bathroom shine, and walk to shopping, dining, transit, EvergreenHealth, and top-rated Northshore schools. One assigned parking spot plus guest parking. Pet-friendly, no rental cap, and well-managed community with clubhouse and play area. - MOTIVATED SELLER

Key facts

• Water heater
• Washer & dryer
• New refrigerator

Tags

• OVERLOOKING GREENSPACE
• COZY WOOD-BURNING FIREPLACE
• NEW REFRIGERATOR
• WASHER & DRYER
• CLOSET ORGANIZERS
• WATER HEATER

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $270k.

Deal economics

• At list price, monthly cash flow is $-646 ($-8k/yr) — negative.
• To cash-flow at today's rent, offer at most $177k (34.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $238k (11.8% below list).
• Recommended offer: $177k (34.6% below list) — sets the bar for cash-flow.
• Cap rate 3.4% vs local median 1.1% in Kirkland — 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 84/100 on livability (#46 in WA, #792 nationally) — a professional / high-income tenant draw. Strengths: schools A+, commute A+, employment 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 (+1.1%/yr); 338 active listings in the ZIP; 35 comparable units currently listed for rent nearby; rentals leasing fast (median 6d 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 $2k of loan paydown is wiped out by about $8k 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.

Negotiation context

• It's been on market 133 days — a 12% lower offer ($238k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 26y ago; this cycle's ask has dropped $45k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $215k; 26% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 28% of rent.

Recommended offer $176,509 (34.6% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 133 days. Have you received any prior offers? Is the seller open to a 35% concession, seller financing, or rate buy-down credit?
3. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
10. 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.
11. 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.
12. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.88% ✗
• Cap rate: 3.42%
• Cash-on-cash: -10.26%
• DSCR: 0.54
• GRM: 9.4

CMA / ARV

• ARV (median comp): $330,092
• List price: $269,999
• Delta: -18.20%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 1.14% rent growth · sell at horizon

5-year hold

• IRR: -37.6%
• Equity multiple: -0.18×
• Total profit: $-88,835
• Equity at exit: $40,258

10-year hold

• IRR: -75.5%
• Equity multiple: -0.93×
• Total profit: $-145,846
• Equity at exit: $23,345

Cash invested: $75,600 (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 98034

• Rents YoY: 1.1%
• Active inventory: 338
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $2,382 high
• Mortgage (P&I): −$1,416
• Tax est. 1.5%: −$337 /mo · $4,050/yr
• Insurance: −$112
• HOA: −$662
• Vacancy / Maint / Mgmt: −$500
• Net cashflow: $-646

Break-even live

Break-even rent $3,200

Max offer price $176,509

Occupancy floor —

Sensitivity live

Price	-10% $-460	-5% $-553	+0% $-646	+5% $-739	+10% $-833
Rent	-10% $-834	-5% $-740	+0% $-646	+5% $-552	+10% $-458
Rate	-1.0pp $-510	-0.5pp $-577	base $-646	+0.5pp $-716	+1.0pp $-787

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: $67,500
• Closing costs: $8,100
• Reserves months: —
• Total cash needed: —

Rent comps 35 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
14510 124th Ave NE Unit W64 Kirkland, WA	2.0	1.0	923	$2,000	$2.17	21d	1	0.05mi
12424 NE 145th St Unit C 25 Kirkland, WA	3.0	1.5	1052	$2,650	$2.52	44d	1	0.08mi
12648 NE 144th St Kirkland, WA	1.0–2.0	1.0–2.0	812	$2,598	$3.20	2d	9	0.14mi
14447 127th Ln NE Kirkland, WA	1.0	1.0	640	$1,920	$3.00	5d	1	0.14mi
14443 127th Ln NE Unit S7 Kirkland, WA	1.0	1.0	640	$1,900	$2.97	44d	1	0.14mi
14441 127th Ln NE Unit S-2 Kirkland, WA	2.0	1.0	923	$2,100	$2.28	25d	1	0.15mi
14334 126th Ave NE Unit B302 Kirkland, WA	2.0	1.0	930	$2,300	$2.47	25d	1	0.21mi
12423 NE 143rd St Kirkland, WA	2.0	1.0	846	$2,075	$2.45	5d	2	0.32mi
16125 Juanita Woodinville Way NE Bothell, WA	1.0–2.0	1.0–2.5	921	$2,800	$3.04	44d	4	0.99mi
15515 Juanita Woodinville Way NE Bothell, WA	1.0–2.0	1.0–2.0	999	$2,913	$2.91	0d	12	1.01mi
10826 NE 148th Ln Unit H102 Bothell, WA	3.0	2.0	1084	$2,795	$2.58	44d	1	1.04mi
12515 NE 132nd Ct Unit A302 Kirkland, WA	1.0	1.0	714	$1,895	$2.65	5d	1	1.10mi
12233 NE 131st Way Kirkland, WA	1.0–2.0	1.0–2.0	875	$2,539	$2.90	2d	11	1.14mi
12429 NE 130th Ct Unit G101 Kirkland, WA	2.0	1.0	853	$2,600	$3.05	25d	1	1.18mi
12904 126th Ct NE Unit J103 Kirkland, WA	2.0	2.0	1066	$1,950	$1.83	18d	1	1.21mi
12717 NE 171st Ln Unit O Woodinville, WA	2.0	2.0	950	$2,375	$2.50	11d	1	1.23mi
12717 NE 171st Ln Unit O Woodinville, WA	2.0	2.0	950	$2,375	$2.50	2d	1	1.23mi
11400 NE 132nd St Kirkland, WA	1.0–2.0	1.0–2.0	781	$2,579	$3.30	2d	26	1.23mi
12821 126th Way NE Kirkland, WA	2.0	1.0	627	$2,357	$3.76	3d	9	1.26mi
13305 NE 171st St Woodinville, WA	1.0–2.0	1.0–2.0	798	$2,750	$3.44	0d	24	1.26mi
11733 NE 131st Pl Kirkland, WA	1.0–2.0	1.0	648	$2,467	$3.80	3d	14	1.27mi
17101 123rd Pl NE Bothell, WA	2.0	2.0	957	$2,500	$2.61	44d	1	1.27mi
11903 NE 128th St #758 Kirkland, WA	1.0	2.0	782	$2,710	$3.47	21d	1	1.39mi
17255 135th Ave NE Woodinville, WA	2.0	1.0–2.0	842	$3,704	$4.40	0d	28	1.40mi
12414 NE 127th Ct Kirkland, WA	1.0–2.0	1.0–2.0	821	$2,749	$3.35	25d	1	1.41mi
11903 NE 128th St Kirkland, WA	1.0–2.0	1.0–2.0	772	$3,400	$4.40	25d	2	1.41mi
11903 NE 128th St Kirkland, WA	1.0–2.0	2.0	919	$3,400	$3.70	44d	1	1.41mi
11811 NE 128th St Kirkland, WA	1.0–2.0	1.0	818	$3,114	$3.81	2d	13	1.42mi
12315 NE Woodinville Dr Woodinville, WA	1.0	1.0	610	$1,725	$2.83	3d	2	1.44mi
11506 NE 128th St #17 Kirkland, WA	2.0	2.0	1095	$2,800	$2.56	11d	1	1.45mi
12410 NE Totem Lake Way Kirkland, WA	4.0	1.0–2.0	745	$1,988	$2.67	44d	1	1.46mi
12670 120th Ave NE Kirkland, WA	1.0–2.0	1.0–2.0	987	$3,890	$3.94	3d	12	1.46mi
17409 133rd Ave NE Woodinville, WA	1.0–3.0	1.0–2.0	1178	$3,199	$2.71	0d	26	1.46mi
12655 120th Ave NE Kirkland, WA	2.0	1.0–2.0	760	$3,505	$4.61	2d	9	1.47mi
12109 Woodinville Dr Bothell, WA	1.0–3.0	1.0–2.0	965	$2,322	$2.41	5d	7	1.49mi

HOA detail condo

• Monthly dues: $662 · $7,944/yr
• Likely covers: parking
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 38 events

1. 2026-06-18
   days on market $269,999 Active 133 DOM
2. 2026-06-17
   days on market $269,999 Active 132 DOM
3. 2026-06-16
   days on market $269,999 Active 131 DOM
4. 2026-06-15
   days on market $269,999 Active 130 DOM
5. 2026-06-13
   days on market $269,999 Active 128 DOM
6. 2026-06-13
   pricedays on market $269,999 Active 127 DOM
7. 2026-06-09
   days on market $280,000 Active 124 DOM
8. 2026-06-08
   days on market $280,000 Active 123 DOM
9. 2026-06-07
   days on market $280,000 Active 122 DOM
10. 2026-06-04
    days on market $280,000 Active 119 DOM
11. 2026-06-03
    days on market $280,000 Active 118 DOM
12. 2026-06-02
    days on market $280,000 Active 117 DOM
13. 2026-06-01
    days on market $280,000 Active 116 DOM
14. 2026-05-31
    days on market $280,000 Active 115 DOM
15. 2026-04-27
    price $280,000
16. 2026-03-20
    price $304,000
17. 2026-03-16
    price $309,000
18. 2026-03-06
    price $309,999
19. 2026-02-05
    listed $314,999 Active
20. 2019-10-03
    soldstatus $215,000 Sold
21. 2019-08-31
    status Pending
22. 2019-08-19
    price $215,000
23. 2019-07-24
    status Active
24. 2019-07-04
    status Pending
25. 2019-07-04
    historical Taken Off Market
26. 2019-06-20
    price $229,950
27. 2019-06-05
    listed $239,950 Active
28. 2015-09-16
    soldstatus $127,720 Sold
29. 2015-07-27
    status Pending
30. 2015-07-21
    price $124,000
31. 2015-07-21
    status Active
32. 2015-07-08
    status Pending Inspection
33. 2015-06-29
    listed $120,000 Active
34. 2005-02-24
    soldstatus $104,000 Closed
35. 2005-01-26
    historical
36. 2005-01-14
    listed $104,888
37. 2000-12-21
    soldstatus $99,500
38. 2000-11-20
    listed $99,500

ⓘ 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 ≥86°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 7/10 Severe 9 unhealthy d/yr today · 10 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,584
• − Mortgage interest: −$15,124
• − Property taxes: −$4,050
• − Insurance: −$1,350
• − Repairs & maintenance: −$2,287
• − Management: −$2,287
• − HOA: −$7,944
• − Depreciation: −$7,855
• Taxable loss: −$12,312
• Est. tax savings @ 24.0%: +$2,955
• After-tax cash flow: $-4,798/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 — Kirkland

• Score: 84/100
• State rank: #46
• US rank: #792

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Kirkland, WA
• County: King County · 2,251,916 people
• City population: 93,513
• Metro: Seattle-Tacoma-Bellevue, WA
• Population (ZIP): 52,531
• Household income: $135,219
• Rent vs Own: 40.8% rent · 59.2% own
• Severe rent burden: 1830.0

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 0.56)
• Race & ethnicity: White 64% Asian 17% Two or more races 10% Hispanic / Latino 9% Black 2%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Italian 3% Portuguese 3% Lithuanian 3%
• Foreign-born: 26% · Canada, China, Vietnam
• Languages at home: 70% English-only · Other Indo-European 8% Spanish 7% Chinese 5%

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: ▼ -1281.53%
• Current HPI: 442.5372
• Rent YoY: ▲ 1.14%
• 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

+181.4% since first listed

24 events — show timeline

• 2026-04-27 Price Changed $280,000 NWMLS as Distributed by MLS Grid
• 2026-03-20 Price Changed $304,000 NWMLS as Distributed by MLS Grid
• 2026-03-16 Price Changed $309,000 NWMLS as Distributed by MLS Grid
• 2026-03-06 Price Changed $309,999 NWMLS as Distributed by MLS Grid
• 2026-02-05 Listed $314,999 NWMLS as Distributed by MLS Grid
• 2019-10-03 Sold (MLS) $215,000 NWMLS as Distributed by MLS Grid
• 2019-08-31 Pending — NWMLS as Distributed by MLS Grid
• 2019-08-19 Price Changed $215,000 NWMLS as Distributed by MLS Grid
• 2019-07-24 Relisted — NWMLS as Distributed by MLS Grid
• 2019-07-04 Pending — NWMLS as Distributed by MLS Grid
• 2019-07-04 Delisted — NWMLS as Distributed by MLS Grid
• 2019-06-20 Price Changed $229,950 NWMLS as Distributed by MLS Grid
• 2019-06-05 Listed $239,950 NWMLS as Distributed by MLS Grid
• 2015-09-16 Sold (MLS) $127,720 NWMLS as Distributed by MLS Grid
• 2015-07-27 Pending — NWMLS as Distributed by MLS Grid
• 2015-07-21 Relisted — NWMLS as Distributed by MLS Grid
• 2015-07-21 Price Changed $124,000 NWMLS as Distributed by MLS Grid
• 2015-07-08 Pending — NWMLS as Distributed by MLS Grid
• 2015-06-29 Listed $120,000 NWMLS as Distributed by MLS Grid
• 2005-02-24 Sold (MLS) $104,000 NWMLS as Distributed by MLS Grid
• 2005-01-26 Delisted — NWMLS as Distributed by MLS Grid
• 2005-01-14 Listed $104,888 NWMLS as Distributed by MLS Grid
• 2000-12-21 Sold (MLS) $99,500 NWMLS as Distributed by MLS Grid
• 2000-11-20 Listed $99,500 NWMLS as Distributed by MLS Grid