13000 Martin Luther King Jr Way S #9 · Bryn Mawr-Skyway, WA 98178

$115,000

2 bd · 1.0 ba · 644 sqft · Manufactured · 52 Days on market

Built 1987 Fair condition

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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 +4.7/10.0
• Rent growth +3.2/5.0
• Livability +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

Affordable living and own your mobile home in Seattle. Lovely home offers 2bedroom/1 bathroom home! Features open, spaces living room with laminate wood flooring, lots of windows, & slider to allow the natural light to flow in & new skylights. Kitchen boasts plenty of space & ample, nice wood cabinets. Nice dining room off kitchen & living room. Heating baseboards in house. Open parking spaces 2-3 vehicles. Great location close to all amenities in MLK Jr way, airport, Seattle, Shopping, Westfield Center & more. This beat paying rent for an apartment!!!

Key facts

• 2 parking spots
• Built 1987
• Listed 52 days

Property features AI

Finance

• Financial info: Cash offers only (listing terms)
• HOA & community: Land lease: $625/month; Park name: MBL HM PRK; Approximately 10 homes in the park; Pets allowed

Exterior

• Parking: 2 open uncovered parking spaces
• Utilities: Public water; Sewer service through park (First Commercial Properties NW); Electric power (Seattle City Light); Electric water heater
• Home design: Manufactured single-wide home; One level; Flat roof; TBLD Make, Model 57/20; Condition: Fair; Structure type: Manufactured house
• Construction: Wood construction
• Exterior features: Wood products exterior; Open space lot feature; Common area in the manufactured home park; Has a view

Interior

• Kitchen: Microwave; Refrigerator; Stove/Range
• Bedrooms: 2 bedrooms
• Flooring: Laminate
• Bathrooms: 1 full bath with 1 bathtub
• Heating & cooling: Forced air heating and cooling
• Interior features: Water heater on the premises (electric); Family room
• Laundry & utility: Water heater located in the premises

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $115k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $657 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $115k).
• Recommended offer: $112k (3.0% below list) — sets the bar for market timing.
• Cap rate 13.1% vs local median 2.3% in Bryn Mawr-Skyway — 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: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Renton School District (urban): math 47% / reading 55% proficiency, ranked #119 of 291 in WA (top 41%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+2.8%/yr); 142 active listings in the ZIP; 25 comparable units currently listed for rent nearby; rentals leasing fast (median 4d 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 $795 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 + 2.8% rent growth), your $32k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 52 days — a 3% lower offer ($112k) is reasonable based on typical stale-listing flexibility.

Recommended offer $111,550 (3.0% below list)

Questions for the listing agent

1. It's been on market 52 days. Have you received any prior offers? Is the seller open to a 3% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 1.60% ✓
• Cap rate: 13.15%
• Cash-on-cash: 24.48%
• DSCR: 2.09
• GRM: 5.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.78% rent growth · sell at horizon

5-year hold

• IRR: 17.6%
• Equity multiple: 1.71×
• Total profit: $22,827
• Equity at exit: $17,147

10-year hold

• IRR: 25.9%
• Equity multiple: 3.24×
• Total profit: $72,208
• Equity at exit: $9,943

Cash invested: $32,200 (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 98178

• Rents YoY: 2.8%
• Active inventory: 142
• Price-to-rent: 5.2×

Monthly cashflow live

• Estimated rent: $1,838 high
• Mortgage (P&I): −$603
• Tax est. 1.5%: −$144 /mo · $1,725/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$386
• Net cashflow: $657

Break-even live

Break-even rent $1,006

Max offer price $115,000

Occupancy floor 59%

Sensitivity live

Price	-10% $736	-5% $697	+0% $657	+5% $617	+10% $577
Rent	-10% $512	-5% $584	+0% $657	+5% $730	+10% $802
Rate	-1.0pp $715	-0.5pp $686	base $657	+0.5pp $627	+1.0pp $597

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12825 60th Ln S Seattle, WA	2.0	1.0–1.5	785	$1,680	$2.14	3d	9	0.17mi
12600 57th Ave S Seattle, WA	1.0	1.0	572	$1,495	$2.61	17d	1	0.37mi
12511 69th Ave S Seattle, WA	3.0	1.0–2.0	820	$2,198	$2.68	0d	5	0.45mi
6801 S 133rd St Seattle, WA	1.0–2.0	1.0–2.0	880	$2,190	$2.49	0d	4	0.47mi
13445 Martin Luther King Jr Way S Seattle, WA	1.0–4.0	1.0–2.0	965	$1,732	$1.79	0d	37	0.48mi
6900 S 125th St Seattle, WA	3.0	1.0–2.0	820	$2,116	$2.58	5d	6	0.51mi
13865 Interurban Ave S Tukwila, WA	1.0–2.0	1.0–2.0	802	$2,459	$3.07	0d	6	0.61mi
13530 53rd Ave S Unit 202 Tukwila, WA	1.0	1.0	570	$1,825	$3.20	18d	1	0.64mi
13530 53rd Ave S Unit 304 Tukwila, WA	1.0	1.0	629	$1,895	$3.01	18d	1	0.64mi
13705 56th Ave S Tukwila, WA	2.0	1.0–2.0	740	$1,845	$2.49	0d	3	0.68mi
12401 Renton Ave S Unit 101 Seattle, WA	1.0	1.0	630	$1,450	$2.30	25d	1	0.84mi
11660 Renton Ave S Unit 01 Seattle, WA	1.0	1.0	469	$1,365	$2.91	2d	1	0.95mi
7050 S 116th Pl Seattle, WA	1.0–2.0	1.0	841	$1,995	$2.37	0d	6	1.02mi
5154 S Augusta St Unit A Seattle, WA	2.0	1.0	750	$2,000	$2.67	16d	1	1.12mi
14893 Interurban Ave S Tukwila, WA	1.0–2.0	1.0	720	$1,675	$2.33	21d	7	1.16mi
15130 65th Ave S Tukwila, WA	1.0	1.0	690	$1,575	$2.28	25d	3	1.31mi
15154 65th Ave S #911 Tukwila, WA	1.0	1.0	656	$1,299	$1.98	3d	1	1.35mi
15154 65th Ave S Tukwila, WA	1.0	1.0	656	$1,487	$2.27	44d	2	1.35mi
11133 51st Ave S Tukwila, WA	1.0–2.0	1.0–2.0	782	$1,410	$1.80	0d	4	1.36mi
15110 Macadam Rd S Tukwila, WA	1.0–2.0	1.0	854	$1,981	$2.32	0d	9	1.38mi
5851 S 152nd St Tukwila, WA	1.0–2.0	1.0–2.0	885	$1,968	$2.22	44d	4	1.38mi
15210 Macadam Rd S Tukwila, WA	1.0–2.0	1.0–1.5	796	$2,200	$2.76	44d	2	1.42mi
5709 S 152nd Pl Tukwila, WA	1.0	1.0	695	$1,450	$2.09	3d	1	1.44mi
510 Stevens Ave SW Renton, WA	1.0–3.0	1.0–2.0	918	$2,411	$2.62	0d	19	1.45mi
13562 37th Ave S Tukwila, WA	1.0	1.0	594	$1,550	$2.61	5d	1	1.45mi

Listing history 20 events

1. 2026-06-21
   days on market $115,000 Active 52 DOM
2. 2026-06-19
   days on market $115,000 Active 51 DOM
3. 2026-06-18
   days on market $115,000 Active 50 DOM
4. 2026-06-17
   days on market $115,000 Active 49 DOM
5. 2026-06-16
   days on market $115,000 Active 48 DOM
6. 2026-06-15
   days on market $115,000 Active 47 DOM
7. 2026-06-15
   days on market $115,000 Active 46 DOM
8. 2026-06-13
   days on market $115,000 Active 45 DOM
9. 2026-06-12
   days on market $115,000 Active 44 DOM
10. 2026-06-10
    days on market $115,000 Active 42 DOM
11. 2026-06-09
    days on market $115,000 Active 41 DOM
12. 2026-06-08
    days on market $115,000 Active 40 DOM
13. 2026-06-07
    days on market $115,000 Active 39 DOM
14. 2026-06-07
    days on market $115,000 Active 38 DOM
15. 2026-06-04
    days on market $115,000 Active 36 DOM
16. 2026-06-03
    days on market $115,000 Active 35 DOM
17. 2026-06-02
    days on market $115,000 Active 34 DOM
18. 2026-06-01
    days on market $115,000 Active 33 DOM
19. 2026-05-31
    days on market $115,000 Active 32 DOM
20. 2026-04-29
    listed $115,000 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 · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 7/10 Severe 9 unhealthy d/yr today · 12 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,051
• − Mortgage interest: −$6,442
• − Property taxes: −$1,725
• − Insurance: −$575
• − Repairs & maintenance: −$1,764
• − Management: −$1,764
• − Depreciation: −$3,345
• Taxable income: $6,435
• Est. tax owed @ 24.0%: −$1,544
• After-tax cash flow: $6,339/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

The home requires moderate repairs and maintenance, particularly to the exterior siding and interior cleanliness. Painting and replacing the siding would significantly increase its value.

Repairs flagged

• Major Exterior siding — Weathered and in need of repair
• Minor Kitchen counter — Cluttered with various items
• Minor Bathroom counter — Cluttered with various items

Value-add opportunities

• Both Paint interior walls — Fresh paint can improve the overall appearance and value
• Both Replace exterior siding — New siding can significantly improve the home's curb appeal and value
• Both Deep clean kitchen and bathroom — A clean and organized home is more appealing to potential buyers and renters

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exterior siding · Weathered and in need of repair	Major	$15,000–50,000
Kitchen counter · Cluttered with various items	Minor	$500–3,000
Bathroom counter · Cluttered with various items	Minor	$500–3,000
Total estimated repair cost · 3 items		$16,000–56,000

Value-add ROI direction

• Both Paint interior walls — Fresh paint can improve the overall appearance and value ↑
• Both Replace exterior siding — New siding can significantly improve the home's curb appeal and value ↑
• Both Deep clean kitchen and bathroom — A clean and organized home is more appealing to potential buyers and renters ↑

ⓘ 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: Renton School District
• NCES district ID: 5307230
• Math proficiency: 47% ▼ -1.00%
• Reading proficiency: 55% ▼ -1.00%
• Median HH income: $66,354
• Composite: 47.13/100
• National rank: #5108
• State rank: #119 of 291 in WA

Livability — Bryn Mawr-Skyway

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Bryn Mawr-Skyway, WA
• County: King County · 2,251,916 people
• City population: 26,748
• Metro: Seattle-Tacoma-Bellevue, WA
• Population (ZIP): 26,748
• Household income: $99,505
• Rent vs Own: 33.3% rent · 66.7% own
• Severe rent burden: 1035.0

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 0.76)
• Race & ethnicity: Asian 32% White 29% Black 22% Two or more races 10% Hispanic / Latino 9% Native American 1%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Subsaharan African 2% Lithuanian 2% Russian 2%
• Foreign-born: 31% · Vietnam, China, Canada
• Languages at home: 64% English-only · Vietnamese 10% Chinese 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: ▼ -854.35%
• Current HPI: 321.6474
• Rent YoY: ▲ 2.78%
• 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

• 2026-04-29 Listed $115,000 NWMLS as Distributed by MLS Grid