1017 NE 55th St · Seattle, WA 98105

$1,020,000

8 bd · 3.0 ba · 1,950 sqft · Townhouse public records · 80 Days on market

Built 2019 1,469 sqft lot $523/sqft · 16% below area Est $1216k · 16% under

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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 +14.7/15.0
• Cash flow +7.4/30.0
• Schools +6.1/10.0
• Livability +3.8/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• DSCR +1.5/10.0
• 1% rule +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks

Investor Landlords alert! Opportunity is knocking! Newer 3 Stories turn-key 8-BR Townhouses in UW area, 9th room is den. Full 9 ft ceilings on all floors, giant bedroom windows, excellent condition & materials inside & out. This one fully furnished, living room furniture, shiny kitchen all stocked to cook & serve, quality beds, 10 mounted TV screens, etc. Spacious, good lighting, LVP floors, cool AC. Easy to find the tenant. This unit has one parking spot ally.

Key facts

• 8 br townhouses
• 3 stories
• 9 ft ceilings

Tags

• 3 STORIES
• 8 BR TOWNHOUSES
• 9 FT CEILINGS
• GIANT BEDROOM WINDOWS
• FULLY FURNISHED
• 10 MOUNTED TV SCREENS

What this means for you Summary

Snapshot

• This is a 8-bed/3.0-bath townhouse listed at $1.02M.

Deal economics

• At list price, monthly cash flow is $-1k ($-16k/yr) — negative.
• To cash-flow at today's rent, offer at most $788k (22.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $652k (36.1% below list).
• Recommended offer: $652k (36.1% below list) — sets the bar for 1% rule.
• Cap rate 4.7% vs local median 1.6% in Seattle — 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 75/100 on livability (#166 in WA, #4,033 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, employment A+; Watch: crime F, cost of living F.
• Seattle Public Schools (urban): math 64% / reading 72% proficiency, ranked #19 of 291 in WA (top 6%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Green Lake Elementary School (328 students, 23% FRL); Hamilton International Middle School (928 students, 12% FRL); Lincoln High School (1,653 students, 12% FRL).
• Market conditions: Rents flat; 160 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals leasing fast (median 0d on market — plan ~1-2 weeks tenant-placement turnaround); 10,555 units permitted in King County in 2024 (7,119 in 5+ unit buildings).
• At $6,518/mo this rent would consume 105% of the median local household income ($74k/yr) (locally 4745% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $7k of loan paydown is wiped out by about $31k 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 80 days — a 6% lower offer ($959k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $60k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $651,843 (36.1% 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 80 days. Have you received any prior offers? Is the seller open to a 36% concession, seller financing, or rate buy-down credit?
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. 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?
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. 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?
8. 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.
9. 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.
10. 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: 0.64% ✗
• Cap rate: 4.74%
• Cash-on-cash: -5.53%
• DSCR: 0.75
• GRM: 13.0

CMA / ARV

• ARV (median comp): $1,215,541
• List price: $1,020,000
• Delta: -16.09%
• Verdict: UNDERPRICED
• Comps: 7 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1015 NE 55th St	0.01mi	9/3.0 (+1)	1,950 (0%)	3mo	$1,079,950	$554	92
4709 B 8th Ave NE	0.38mi	8/2.5	1,800 (-8%)	2mo	$900,000	$500	66
4709 A 8th Ave NE	0.38mi	8/2.5	1,760 (-10%)	11mo	$1,046,000	$594	55
5203 B Ravenna Ave NE	0.61mi	8/3.0	1,680 (-14%)	12mo	$1,276,000	$760	38
5201 B Ravenna Ave NE	0.62mi	8/3.0	1,680 (-14%)	12mo	$1,276,000	$760	38
5203 A Ravenna Ave NE	0.61mi	8/3.0	1,680 (-14%)	15mo	$1,272,000	$757	36
5201 A Ravenna Ave NE	0.62mi	8/3.0	1,680 (-14%)	16mo	$1,272,000	$757	35

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 · 0.72% rent growth · sell at horizon

5-year hold

• IRR: -28.1%
• Equity multiple: 0.08×
• Total profit: $-263,986
• Equity at exit: $152,085

10-year hold

• IRR: -37.1%
• Equity multiple: -0.39×
• Total profit: $-396,180
• Equity at exit: $88,191

Cash invested: $285,600 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (CITY): 0 Strongly Tenant-Friendly
• State Washington: 28 Tenant-Leaning · D+8
• County: — inherits STATE
• City Seattle: 0 Strongly Tenant-Friendly · D+52

Just Cause + Relocation Assistance + Source of Income + First in Time.

Methodology + full state rankings →

ZIP-level market 98105

• Rents YoY: 0.7%
• Active inventory: 160
• Price-to-rent: 13.0×

Monthly cashflow live

• Estimated rent: $6,518 medium
• Mortgage (P&I): −$5,349
• Tax from tax record: −$692 /mo · $8,299/yr
• Insurance: −$425
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,369
• Net cashflow: $-1,316

Break-even live

Break-even rent $8,184

Max offer price $787,514

Occupancy floor —

Sensitivity live

Price	-10% $-739	-5% $-1,027	+0% $-1,316	+5% $-1,605	+10% $-1,893
Rent	-10% $-1,831	-5% $-1,574	+0% $-1,316	+5% $-1,059	+10% $-801
Rate	-1.0pp $-802	-0.5pp $-1,057	base $-1,316	+0.5pp $-1,580	+1.0pp $-1,849

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: $255,000
• Closing costs: $30,600
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5224 Brooklyn Ave NE Unit B Seattle, WA	8.0	3.0	1610	$850	$0.53	4d	1	0.16mi
4709 8th Ave NE Unit A Seattle, WA	8.0	2.5	1900	$825	$0.43	0d	1	0.34mi
5015 17th Ave NE Seattle, WA	3.0–12.0	1.0–6.0	2750	$7,150	$2.60	0d	2	0.38mi
4729 21st Ave NE Seattle, WA	8.0	4.0	2170	$8,500	$3.92	4d	1	0.60mi
4729 21st Ave NE Rm 2 Seattle, WA	8.0	4.0	2300	$1,050	$0.46	0d	1	0.60mi
4729 21st Ave NE Unit B Seattle, WA	8.0	4.0	2300	$8,000	$3.48	0d	1	0.60mi

Listing history 30 events

1. 2026-06-21
   days on market $1,020,000 Active 80 DOM
2. 2026-06-21
   days on market $1,020,000 Active 79 DOM
3. 2026-06-19
   days on market $1,020,000 Active 78 DOM
4. 2026-06-18
   days on market $1,020,000 Active 77 DOM
5. 2026-06-17
   days on market $1,020,000 Active 76 DOM
6. 2026-06-16
   days on market $1,020,000 Active 75 DOM
7. 2026-06-15
   days on market $1,020,000 Active 74 DOM
8. 2026-06-15
   days on market $1,020,000 Active 73 DOM
9. 2026-06-13
   days on market $1,020,000 Active 72 DOM
10. 2026-06-12
    days on market $1,020,000 Active 71 DOM
11. 2026-06-10
    days on market $1,020,000 Active 69 DOM
12. 2026-06-09
    days on market $1,020,000 Active 68 DOM
13. 2026-06-08
    days on market $1,020,000 Active 67 DOM
14. 2026-06-07
    days on market $1,020,000 Active 66 DOM
15. 2026-06-07
    days on market $1,020,000 Active 65 DOM
16. 2026-06-04
    days on market $1,020,000 Active 63 DOM
17. 2026-06-03
    days on market $1,020,000 Active 62 DOM
18. 2026-06-02
    days on market $1,020,000 Active 61 DOM
19. 2026-06-01
    days on market $1,020,000 Active 60 DOM
20. 2026-05-31
    days on market $1,020,000 Active 59 DOM
21. 2026-04-16
    price $1,040,000
22. 2026-04-02
    listed $1,080,000 Active
23. 2026-03-14
    historical $6,000
24. 2026-03-03
    soldstatus $1,040,000 Closed
25. 2026-03-03
    soldstatus $1,040,000
26. 2026-02-06
    listed $6,000
27. 2026-02-06
    status Pending
28. 2026-01-22
    listed $1,080,000 Active
29. 2018-08-10
    soldstatus $850,000
30. 1984-12-18
    soldstatus $55,900

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast WA · Resets to sale price

• Current annual tax: $8,299 · $692/mo
• Projected year-2 tax: $9,996 · $833/mo
• Expected delta: +$1,697/yr (+$141/mo · 20.4%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

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 10 unhealthy d/yr today · 11 by 30 yrs out

Taxation est. · year 1

• Rental income: $78,221
• − Mortgage interest: −$57,136
• − Property taxes: −$8,299
• − Insurance: −$5,100
• − Repairs & maintenance: −$6,258
• − Management: −$6,258
• − Depreciation: −$29,673
• Taxable loss: −$34,502
• Est. tax savings @ 24.0%: +$8,281
• After-tax cash flow: $-7,512/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: Seattle Public Schools
• NCES district ID: 5307710
• Math proficiency: 64% ▼ -1.00%
• Reading proficiency: 72% ▬ 0.00%
• Median HH income: $68,695
• Composite: 60.76/100
• National rank: #1649
• State rank: #19 of 291 in WA

Livability — Seattle

• Score: 75/100
• State rank: #166
• US rank: #4033

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Seattle, WA
• County: King County · 2,251,916 people
• City population: 706,262
• Metro: Seattle-Tacoma-Bellevue, WA
• Population (ZIP): 49,767
• Household income: $74,349
• Rent vs Own: 68.6% rent · 31.4% own
• Severe rent burden: 4745.0

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 0.62)
• Race & ethnicity: White 56% Asian 23% Two or more races 11% Hispanic / Latino 7% Black 3% Native American 1%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Italian 4% Slovak 3% Portuguese 3%
• Foreign-born: 21% · China, Canada, South Korea
• Languages at home: 72% English-only · Chinese 10% Spanish 4% Other Indo-European 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: ▼ -1681.55%
• Current HPI: 298.8378
• Rent YoY: ▲ 0.72%
• 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

+1760.5% since first listed

10 events — show timeline

• 2026-04-16 Price Changed $1,040,000 NWMLS as Distributed by MLS Grid
• 2026-04-02 Listed $1,080,000 NWMLS as Distributed by MLS Grid
• 2026-03-14 Rental Removed $6,000 SHOWMOJO
• 2026-03-03 Sold (Public Records) $1,040,000 Public Records
• 2026-03-03 Sold (MLS) $1,040,000 NWMLS as Distributed by MLS Grid
• 2026-02-06 Listed for Rent $6,000 SHOWMOJO
• 2026-02-06 Pending — NWMLS as Distributed by MLS Grid
• 2026-01-22 Listed $1,080,000 NWMLS as Distributed by MLS Grid
• 2018-08-10 Sold (Public Records) $850,000 Public Records
• 1984-12-18 Sold (Public Records) $55,900 Public Records

Property tax history

+5.8%/yr

Latest (2025): $8,299 · +10.5% YoY. Source: county tax records.