24415 64th Ave S #2 · Kent, WA 98032

$110,000

2 bd · 1.0 ba · 980 sqft · Manufactured · 61 Days on market

Built 1972 Good condition $112/sqft · 120% above area

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.8/10.0
• Livability +4.0/5.0
• Condition / age +3.8/5.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Listing remarks

Step into this well maintained mobile home that offers comfortable living with a generous sized kitchen, mini-split for year round comfort & a large deck for gatherings. New plumbing throughout the home, stainless steel appliances & minutes away from multiple convenience stores. Move-in ready, look no further!

Key facts

• Large deck
• New plumbing
• Mini-split

Tags

• GENEROUS SIZED KITCHEN
• MINI-SPLIT
• LARGE DECK
• NEW PLUMBING
• STAINLESS STEEL APPLIANCES

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $110k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $910 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $110k).
• Recommended offer: $103k (6.0% below list) — sets the bar for market timing.
• Cap rate 16.2% 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 soft (-0.7%/yr); 127 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 6d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 10,555 units permitted in King County in 2024 (7,119 in 5+ unit buildings).
• This rent runs 31% of the median local income ($83k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $761 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 + 0.0% rent growth), your $31k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 61 days — a 6% lower offer ($103k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Risks & watch-outs

• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $103,400 (6.0% below list)

Questions for the listing agent

1. It's been on market 61 days. Have you received any prior offers? Is the seller open to a 6% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 1.92% ✓
• Cap rate: 16.22%
• Cash-on-cash: 35.45%
• DSCR: 2.58
• GRM: 4.3

CMA / ARV

• ARV (median comp): $49,987
• List price: $110,000
• Delta: 120.06%
• Verdict: OVERPRICED
• Comps: 1 within 2.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
827 West Valley Highway, #50	0.53mi	2/2.0	924 (-6%)	13mo	$68,000	$74	51
827 W Valley Hwy #43	0.53mi	2/2.0	880 (-10%)	22mo	$90,000	$102	36

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 27.6%
• Equity multiple: 2.10×
• Total profit: $33,969
• Equity at exit: $16,401

10-year hold

• IRR: 33.3%
• Equity multiple: 3.61×
• Total profit: $80,395
• Equity at exit: $9,511

Cash invested: $30,800 (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 98032

• Rents YoY: -0.7%
• Active inventory: 127
• Price-to-rent: 4.3×

Monthly cashflow live

• Estimated rent: $2,114 high
• Mortgage (P&I): −$577
• Tax est. 1.5%: −$138 /mo · $1,650/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$444
• Net cashflow: $910

Break-even live

Break-even rent $962

Max offer price $110,000

Occupancy floor 52%

Sensitivity live

Price	-10% $986	-5% $948	+0% $910	+5% $872	+10% $834
Rent	-10% $743	-5% $826	+0% $910	+5% $993	+10% $1,077
Rate	-1.0pp $965	-0.5pp $938	base $910	+0.5pp $881	+1.0pp $852

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6248 S 242nd Pl Kent, WA	1.0–3.0	1.0–2.0	849	$1,999	$2.35	0d	18	0.11mi
24615 64th Ave S Kent, WA	2.0	1.0–2.0	846	$2,665	$3.15	3d	36	0.17mi
24615 64th Ave S Kent, WA	2.0	1.0–2.0	738	$2,320	$3.14	25d	23	0.17mi
1610 W James Pl Kent, WA	2.0	1.0	682	$1,816	$2.66	0d	21	0.27mi
25102 62nd Ave S Kent, WA	1.0–3.0	1.0–2.5	1000	$2,207	$2.21	0d	21	0.32mi
6305 S 238th Pl Kent, WA	1.0–3.0	1.0–2.0	816	$2,072	$2.54	0d	24	0.35mi
2030 W Meeker St Kent, WA	2.0	1.0–2.0	737	$2,900	$3.93	0d	1	0.42mi
23605 62nd Ave S Kent, WA	1.0–3.0	1.0–2.0	833	$2,196	$2.64	0d	9	0.49mi
23529 60th Ave S Kent, WA	1.0–3.0	1.0–2.0	1016	$2,363	$2.33	0d	17	0.53mi
102 Madison Ave N Kent, WA	2.0	1.0–2.0	774	$2,925	$3.78	0d	23	0.63mi
2200 W Meeker St Kent, WA	3.0	1.0–2.0	837	$2,711	$3.24	0d	18	0.64mi
625 W Meeker St Kent, WA	1.0–2.0	1.0	633	$1,787	$2.82	3d	15	0.77mi
23315 54th Ave S Unit 3-2 Kent, WA	2.0	2.5	1063	$2,800	$2.63	5d	1	0.85mi
622 6th Ave S Kent, WA	3.0	2.0	1114	$2,999	$2.69	45d	1	0.90mi
443 Ramsay Way Kent, WA	1.0–2.0	1.0–2.0	726	$2,299	$3.17	0d	14	0.91mi
420 W Smith St Kent, WA	2.0	1.0–2.0	704	$2,321	$3.30	0d	6	0.92mi
4821 S Kent Des Moines Rd Kent, WA	1.0	1.0	650	$1,515	$2.33	13d	17	0.93mi
707 6th Ave S Unit F103 Kent, WA	2.0	1.5	979	$1,700	$1.74	45d	1	0.95mi
401 3rd Ave S Unit Up L Kent, WA	2.0	1.0	700	$1,700	$2.43	45d	1	0.97mi
4813 S 252nd Pl Kent, WA	2.0	1.0	757	$1,695	$2.24	45d	5	0.98mi
24849 46th Ave S Kent, WA	1.0–3.0	1.0–2.0	887	$2,045	$2.30	0d	12	1.00mi
702 5th Ave S Unit T06 Kent, WA	2.0	1.5	975	$2,200	$2.26	0d	1	1.00mi
702 5th Ave S Kent, WA	2.0–3.0	1.5	1150	$2,200	$1.91	6d	3	1.01mi
220 W Meeker St Apt 7 Kent, WA	1.0	1.0	700	$1,395	$1.99	45d	1	1.02mi
220 W Meeker St Apt 9 Kent, WA	1.0	1.0	700	$1,280	$1.83	6d	1	1.02mi
518 2nd Ave S Kent, WA	2.0	1.0	630	$1,550	$2.46	25d	1	1.07mi
749 1st Ave N Kent, WA	2.0	0.5	700	$2,200	$3.14	45d	1	1.10mi
850 2nd Ave N Kent, WA	2.0	1.0	825	$1,950	$2.36	45d	1	1.12mi
839 1st Ave N Kent, WA	1.0	1.0	810	$1,650	$2.04	21d	1	1.14mi
525 Central Ave N Kent, WA	2.0	1.0	780	$2,500	$3.21	45d	1	1.17mi
724 2nd Ave S Kent, WA	2.0	1.0	875	$1,699	$1.94	45d	1	1.17mi
1001 1st Ave N Kent, WA	1.0–2.0	1.0	683	$1,599	$2.34	6d	20	1.24mi
705 State Ave N #4 Kent, WA	2.0	1.0	787	$1,500	$1.91	5d	1	1.24mi
717 State Ave N Unit 4 Kent, WA	2.0	1.0	787	$1,500	$1.91	45d	1	1.25mi
703 Woodford Ave N Apt 2 Kent, WA	2.0	1.5	928	$1,885	$2.03	6d	1	1.29mi
703 Woodford Ave N Unit 2A Kent, WA	2.0	1.5	928	$1,885	$2.03	5d	1	1.29mi
412 E Novak Ln Kent, WA	1.0–3.0	1.0–2.0	879	$1,634	$1.86	13d	1	1.35mi
1020 Central Ave N Kent, WA	1.0–3.0	1.0–2.0	1035	$2,285	$2.21	0d	20	1.44mi
419 Novak Ln Kent, WA	1.0–2.0	1.0–2.0	912	$3,014	$3.30	0d	21	1.46mi
106 Kensington Ave S #102 Kent, WA	3.0	1.0	881	$1,650	$1.87	25d	1	1.48mi

Listing history 4 events

1. 2026-06-01
   days on market $110,000 Active 61 DOM
2. 2026-05-31
   days on market $110,000 Active 60 DOM
3. 2026-04-06
   status Active
4. 2026-03-27
   listed $110,000 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 6/10 Major FEMA zone X (unshaded) · 27% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥88°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: $25,370
• − Mortgage interest: −$6,162
• − Property taxes: −$1,650
• − Insurance: −$550
• − Repairs & maintenance: −$2,030
• − Management: −$2,030
• − Depreciation: −$3,200
• Taxable income: $9,749
• Est. tax owed @ 24.0%: −$2,340
• After-tax cash flow: $8,580/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

Good 75/100 Cosmetic rehab

This well-maintained mobile home is move-in ready with updated appliances and plumbing, making it an attractive option for both resale and rental.

Value-add opportunities

• Resale Paint exterior siding — Enhances curb appeal and value
• Rental Replace outdoor light fixtures — Improves curb appeal and safety

Renovation cost estimate screening

Value-add ROI direction

• Resale Paint exterior siding — Enhances curb appeal and value ↑
• Rental Replace outdoor light fixtures — Improves curb appeal and safety ↑

ⓘ 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): 40,862
• Household income: $82,636
• Rent vs Own: 57.3% rent · 42.7% own
• Severe rent burden: 2581.0

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 0.79)
• Race & ethnicity: White 32% Hispanic / Latino 24% Asian 17% Black 16% Two or more races 12% Pacific Islander 4%
• Hispanic origin (detail): Mexican 18%
• Common ancestry: Portuguese 4% Italian 4% Lithuanian 2%
• Foreign-born: 33% · Canada, Vietnam, China
• Languages at home: 57% English-only · Spanish 19% Other Indo-European 6% Other Asian/Pacific 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: ▼ -527.12%
• Current HPI: 299.2499
• Rent YoY: ▼ -0.68%
• 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

2 events — show timeline

• 2026-04-06 Relisted — NWMLS as Distributed by MLS Grid
• 2026-03-27 Listed $110,000 NWMLS as Distributed by MLS Grid