210 37th St SE #8 · Auburn, WA 98002

$75,500

2 bd · 2.0 ba · 1,000 sqft · Manufactured · 466 Days on market

Built 1989 Est $121k · 38% 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 +4.7/10.0
• Livability +4.0/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome Home! Looking for your own place and get 2 months free rent? This totally remodeled home is waiting for you!! This Single-Wide Manufactured home with 2 beds & 1.75 bath + Bonus room, it's on a leased land lot $1,450 a month plus utilities, is located at All Ages Auburn Manor Mobile Home Park that has an outdoor pool, Community Clubhouse, playground, billiard table, gym, basketball court & special events kitchen That is available for members to rent for gatherings. This home is in a great location, minutes away from shopping, dining, Game Farm Park & easy access to HWY 167/Hwy 18. This home is also adjacent to a school, 1/2 mile from grocery stores, restaurants &a

Key facts

• Outdoor pool
• Community clubhouse
• Basketball court

Tags

• OUTDOOR POOL
• COMMUNITY CLUBHOUSE
• PLAYGROUND
• BILLIARD TABLE
• GYM
• BASKETBALL COURT

Property features AI

Finance

• Financial info: Land lease: $1,450; Listing terms: Cash or Conventional
• HOA & community: Located in Auburn Manor Park (approximately 148 homes); Park amenities: BBQs, clubhouse, common area, exercise room, playground, pool; Pets allowed: dogs and cats

Exterior

• Parking: 2 open/uncovered parking spaces
• Security: No specific security features listed
• Utilities: Community/public water (park); Park sewer; PSE electric; Comcast cable and internet
• Home design: Manufactured single-wide home; Updated/remodeled condition; One level; Fleetwood make, model 148; Mobile home remains
• Construction: Wood construction; Composition roof; Pillar/post/pier foundation with tie downs; Manufactured house structure
• Exterior features: Wood exterior; Wood products; Patio/porch/deck

Interior

• Kitchen: Dishwasher; Garbage disposal; Microwave; Refrigerator; Stove/Range
• Bedrooms: 2 bedrooms
• Flooring: Laminate; Vinyl; Carpet
• Bathrooms: 1 full bath; 1 three-quarter bath
• Heating & cooling: Forced air heating; Electric energy source
• Interior features: Water heater; Den/office; Dining room; Entry; Kitchen with eating space; Living room; Utility room; Skylights; Patio/porch/deck
• Laundry & utility: Washer; Dryer; Laundry room with electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $76k.

Deal economics

• At list price, monthly cash flow is $980 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $76k).
• Recommended offer: $66k (12.0% below list) — sets the bar for market timing.
• Cap rate 21.9% vs local median 2.7% in Auburn — 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 81/100 on livability (#75 in WA, #1,371 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, employment A+; Watch: crime F, cost of living F.
• Auburn School District (urban): math 47% / reading 56% proficiency, ranked #125 of 291 in WA (top 43%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Ilalko Elementary School (493 students, 65% FRL); Auburn Senior High School (1,844 students, 67% FRL) — zoned schools average 66% FRL vs 44% district-wide (22 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+1.5%/yr); 171 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals leasing fast (median 5d 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $522 of loan paydown is wiped out by about $2k 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 + 1.5% rent growth), your $21k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 466 days — a 12% lower offer ($66k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 11y ago; this cycle's ask has dropped $42k (36%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $19k; list at $76k implies a 297% gain — meaningful room to come down on a strong offer.

Recommended offer $66,440 (12.0% below list)

Questions for the listing agent

1. It's been on market 466 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: 2.52% ✓
• Cap rate: 21.87%
• Cash-on-cash: 55.63%
• DSCR: 3.48
• GRM: 3.3

CMA / ARV

• ARV (on-the-fly): $121,000
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
210 37th St SE #64	0.03mi	2/2.0	960 (-4%)	7mo	$72,000	$75	86
4248 A St SE #205	0.25mi	2/2.0	960 (-4%)	1mo	$85,000	$89	81
401 37th St SE #112	0.20mi	3/2.0 (+1)	980 (-2%)	11mo	$134,000	$137	73
401 37th St SE #110	0.28mi	3/1.0 (+1)	980 (-2%)	3mo	$127,000	$130	72
401 37th St SE #109	0.20mi	3/2.0 (+1)	980 (-2%)	14mo	$126,500	$129	71
418 37th St SE	0.15mi	3/2.0 (+1)	924 (-8%)	8mo	$225,000	$244	69
800 29 TH St SE Unit G-12	0.69mi	2/1.0	980 (-2%)	0mo	$86,000	$88	61
401 37th St SE #20	0.20mi	2/1.0	896 (-10%)	12mo	$100,000	$112	60
607 37th St SE #77	0.29mi	3/2.0 (+1)	1,120 (+12%)	4mo	$135,000	$121	58
900 29th St SE Unit D-11	0.74mi	3/2.0 (+1)	960 (-4%)	3mo	$71,750	$75	52
3225 M St SE #131	0.70mi	2/2.0	900 (-10%)	8mo	$105,000	$117	44
204 Cedar Ln	0.70mi	3/2.0 (+1)	1,056 (+6%)	13mo	$405,000	$384	42

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 · 1.51% rent growth · sell at horizon

5-year hold

• IRR: 52.3%
• Equity multiple: 3.24×
• Total profit: $47,404
• Equity at exit: $11,257

10-year hold

• IRR: 57.0%
• Equity multiple: 6.23×
• Total profit: $110,584
• Equity at exit: $6,528

Cash invested: $21,140 (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 98002

• Rents YoY: 1.5%
• Active inventory: 171
• Price-to-rent: 3.3×

Monthly cashflow live

• Estimated rent: $1,901 high
• Mortgage (P&I): −$396
• Tax est. 1.5%: −$94 /mo · $1,132/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$399
• Net cashflow: $980

Break-even live

Break-even rent $660

Max offer price $75,500

Occupancy floor 43%

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: $18,875
• Closing costs: $2,265
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
732 4th Ave NE Pacific, WA	2.0	1.0	850	$1,805	$2.12	4d	2	0.37mi
1014 37th St SE Apt 4 Auburn, WA	2.0	2.0	1005	$1,780	$1.77	4d	1	0.48mi
4704 Mill Pond Dr SE #213 Auburn, WA	2.0	2.0	1142	$2,750	$2.41	2d	1	0.53mi
1120 37th St SE Auburn, WA	2.0	1.0	788	$1,695	$2.15	12d	1	0.54mi
703 47th St SE Auburn, WA	2.0	1.0–2.0	781	$1,970	$2.52	1d	7	0.59mi
404 27th St SE Unit 19-1 Auburn, WA	2.0	1.0	1000	$1,750	$1.75	12d	1	0.72mi
2952 O St SE Unit F Auburn, WA	2.0	1.0	1051	$1,495	$1.42	1d	1	0.88mi
2952 O St SE Unit D Auburn, WA	2.0	1.0	795	$1,375	$1.73	1d	1	0.88mi
2455 F St SE Auburn, WA	1.0–3.0	1.0–2.0	757	$1,678	$2.21	2d	6	0.90mi
102 Hawthorne Ave S Pacific, WA	3.0	1.0	1285	$2,950	$2.30	1d	1	0.93mi
1526 29th St SE Auburn, WA	2.0	1.0	912	$1,595	$1.75	24d	1	0.94mi
402 21st St SE Auburn, WA	1.0–2.0	1.0–1.5	747	$1,695	$2.27	14d	4	1.08mi
508 4th Ave SE Pacific, WA	2.0	1.0	885	$2,100	$2.37	24d	1	1.11mi
2020 F St SE Auburn, WA	1.0–2.0	1.0	725	$1,599	$2.21	24d	1	1.17mi
418 17th St SE Unit 6C Auburn, WA	2.0	2.0	1219	$2,200	$1.80	24d	1	1.26mi

Listing history 27 events

1. 2026-06-18
   days on market $75,500 Active 466 DOM
2. 2026-06-17
   days on market $75,500 Active 465 DOM
3. 2026-06-16
   days on market $75,500 Active 464 DOM
4. 2026-06-15
   days on market $75,500 Active 463 DOM
5. 2026-06-13
   days on market $75,500 Active 461 DOM
6. 2026-06-13
   days on market $75,500 Active 460 DOM
7. 2026-06-09
   days on market $75,500 Active 457 DOM
8. 2026-06-08
   days on market $75,500 Active 456 DOM
9. 2026-06-07
   days on market $75,500 Active 455 DOM
10. 2026-06-04
    pricedays on market $75,500 Active 452 DOM
11. 2026-06-03
    days on market $88,500 Active 451 DOM
12. 2026-06-02
    days on market $88,500 Active 450 DOM
13. 2026-06-01
    days on market $88,500 Active 449 DOM
14. 2026-05-31
    days on market $88,500 Active 448 DOM
15. 2026-02-05
    price $88,500
16. 2026-01-07
    status Active
17. 2025-10-25
    price $98,000
18. 2025-06-13
    status Active
19. 2025-06-12
    status Pending
20. 2025-05-05
    price $103,000
21. 2025-04-02
    price $108,000
22. 2025-03-12
    price $113,000
23. 2025-03-01
    listed $118,000 Active
24. 2015-04-13
    historical
25. 2015-04-10
    soldstatus $19,000 Sold
26. 2015-03-27
    status Pending Inspection
27. 2015-03-10
    listed $19,500 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 ≥88°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 7/10 Severe 10 unhealthy d/yr today · 11 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,812
• − Mortgage interest: −$4,229
• − Property taxes: −$1,132
• − Insurance: −$378
• − Repairs & maintenance: −$1,825
• − Management: −$1,825
• − Depreciation: −$2,196
• Taxable income: $11,226
• Est. tax owed @ 24.0%: −$2,694
• After-tax cash flow: $9,066/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: Auburn School District
• NCES district ID: 5300300
• Math proficiency: 47% ▼ -3.00%
• Reading proficiency: 56% ▼ -1.00%
• Median HH income: $58,048
• Composite: 46.73/100
• National rank: #5240
• State rank: #125 of 291 in WA

Livability — Auburn

• Score: 81/100
• State rank: #75
• US rank: #1371

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Auburn, WA
• County: King County · 2,251,916 people
• City population: 74,969
• Metro: Seattle-Tacoma-Bellevue, WA
• Population (ZIP): 37,509
• Household income: $78,684
• Rent vs Own: 51.1% rent · 48.9% own
• Severe rent burden: 2202.0

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 0.72)
• Race & ethnicity: White 46% Hispanic / Latino 24% Two or more races 13% Black 12% Asian 6% Pacific Islander 4% Native American 2%
• Hispanic origin (detail): Mexican 20%
• Common ancestry: Portuguese 4% Subsaharan African 4% Lithuanian 3%
• Foreign-born: 24% · Canada, Vietnam
• Languages at home: 63% English-only · Spanish 19% Russian/Polish/Slavic 6% Other Asian/Pacific 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: —

Market trends

• HPI YoY: ▼ -677.96%
• Current HPI: 298.0849
• Rent YoY: ▲ 1.51%
• 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

+353.8% since first listed

13 events — show timeline

• 2026-02-05 Price Changed $88,500 NWMLS as Distributed by MLS Grid
• 2026-01-07 Relisted — NWMLS as Distributed by MLS Grid
• 2025-10-25 Price Changed $98,000 NWMLS as Distributed by MLS Grid
• 2025-06-13 Relisted — NWMLS as Distributed by MLS Grid
• 2025-06-12 Pending — NWMLS as Distributed by MLS Grid
• 2025-05-05 Price Changed $103,000 NWMLS as Distributed by MLS Grid
• 2025-04-02 Price Changed $108,000 NWMLS as Distributed by MLS Grid
• 2025-03-12 Price Changed $113,000 NWMLS as Distributed by MLS Grid
• 2025-03-01 Listed $118,000 NWMLS as Distributed by MLS Grid
• 2015-04-13 Delisted — NWMLS as Distributed by MLS Grid
• 2015-04-10 Sold (MLS) $19,000 NWMLS as Distributed by MLS Grid
• 2015-03-27 Pending — NWMLS as Distributed by MLS Grid
• 2015-03-10 Listed $19,500 NWMLS as Distributed by MLS Grid