328 330 S Division St · Auburn, WA 98001

$399,999

4 bd · 2.0 ba · 1,370 sqft · MultiFamily public records · 113 Days on market

Built 1912 5,175 sqft lot Est $489k · 18% 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 +25.4/30.0
• ARV discount +15.0/15.0
• DSCR +8.4/10.0
• 1% rule +6.4/10.0
• Schools +4.7/10.0
• Livability +4.0/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Excellent investment opportunity with long-term, dependable tenants in place, currently on month-to-month leases. Tenants pay their own electricity, offering steady cash flow with flexibility for future plans. The property carries Land Use 3 – Duplex and is zoned Commercial DUC (Downtown Urban Center), allowing redevelopment potential of up to six stories (buyer to verify), making this an ideal buy-and-hold or future development asset. This fully remodeled two-story duplex with a full basement features a new roof, updated kitchens and bathrooms, new flooring, and fresh interior paint. The main unit offers 2 bedrooms (with one bedroom in the basement), while the upper unit features 1 b

Key facts

• Zoned commercial duc
• New flooring
• Updated bathrooms

Tags

• ZONED COMMERCIAL DUC
• FULLY REMODELED DUPLEX
• NEW ROOF
• UPDATED KITCHENS
• UPDATED BATHROOMS
• NEW FLOORING

Property features AI

Finance

• Other: Building area total: 1,870 square feet; Units in building: 2; Unit 238 actual rent: $1,300; Unit 330 actual rent: $1,100; Gross adjusted income: $0 (as reported); Gross rent multiplier: 0 (as reported)
• Financial info: Listing terms: Cash or Conventional; Gross scheduled income: $30,000/year; Total monthly income: $2,500; Total expenses: $8,555; Insurance expense: $800

Exterior

• Parking: Uncovered parking for 6 vehicles; RV parking available
• Security: Fully fenced
• Utilities: Public water (Auburn); Sewer connected (Auburn); Power from PSE; Energy sources: Electric and Natural Gas
• Home design: Duplex (residential income / multi-family); 2 stories; Possible commercial use
• Construction: Composition roof; Construction materials: see remarks; Poured concrete foundation; Effective year built 1912
• Exterior features: Deck; Fully fenced yard; Cable TV available; RV parking; See remarks for additional exterior details

Interior

• Kitchen: Unit 238: Refrigerator included; Unit 330: Refrigerator included; No dishwashers listed
• Bedrooms: Unit 238: 2 bedrooms; Unit 330: 1 bedroom
• Flooring: Laminate
• Bathrooms: Unit 238: 1 bathroom; Unit 330: 1 bathroom
• Heating & cooling: Baseboard heating; Forced air heating; Forced air cooling
• Interior features: Laminate flooring; Basement; Thermal windows
• Laundry & utility: Both units include washer/dryer hookups or units

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $400k.

Deal economics

• At list price, monthly cash flow is $919 ($11k/yr) — positive. Per door: $459/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $400k).
• Recommended offer: $364k (9.0% below list) — sets the bar for market timing.
• Cap rate 9.0% 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: Washington Elementary School (491 students, 74% FRL); Cascade Middle School (899 students, 70% FRL); Auburn Senior High School (1,844 students, 67% FRL) — zoned schools average 70% FRL vs 44% district-wide (26 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+3.5%/yr); 184 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals leasing fast (median 12d 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).
• At $4,552/mo this rent would consume 51% of the median local household income ($107k/yr) (locally 573% 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 $3k of loan paydown is wiped out by about $12k 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 113 days — a 9% lower offer ($364k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 25y ago; this cycle's ask has dropped $90k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1912 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $363,999 (9.0% below list)

Questions for the listing agent

1. It's been on market 113 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1912 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
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 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: 1.14% ✓
• Cap rate: 9.05%
• Cash-on-cash: 9.84%
• DSCR: 1.44
• GRM: 7.3

CMA / ARV

• ARV (on-the-fly): $489,090
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
618 5th St SE	0.42mi	4/2.0	1,390 (+2%)	5mo	$442,500	$318	74
1015 6th St SE	0.67mi	4/2.0	1,540 (+12%)	12mo	$550,000	$357	38

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 · 3.53% rent growth · sell at horizon

5-year hold

• IRR: -0.9%
• Equity multiple: 0.97×
• Total profit: $-3,844
• Equity at exit: $59,641

10-year hold

• IRR: 9.3%
• Equity multiple: 1.73×
• Total profit: $82,188
• Equity at exit: $34,585

Cash invested: $112,000 (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 98001

• Rents YoY: 3.5%
• Active inventory: 184
• Price-to-rent: 14.6×

Monthly cashflow live

• Estimated rent: $4,552 high
• Mortgage (P&I): −$2,098
• Tax from tax record: −$413 /mo · $4,956/yr
• Insurance: −$167
• HOA: −$0
• Vacancy / Maint / Mgmt: −$956
• Net cashflow: $919

Break-even live

Break-even rent $3,389

Max offer price $399,999

Occupancy floor 75%

Sensitivity live

Price	-10% $1,145	-5% $1,032	+0% $919	+5% $806	+10% $692
Rent	-10% $559	-5% $739	+0% $919	+5% $1,099	+10% $1,278
Rate	-1.0pp $1,120	-0.5pp $1,021	base $919	+0.5pp $815	+1.0pp $710

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$4,552
Total (2 units)			$4,552

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: $100,000
• Closing costs: $12,000
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
44 5th St NE Apt 4 Auburn, WA	3.0	1.0	1000	$1,999	$2.00	25d	1	0.53mi
1314 6th Pl NE Auburn, WA	3.0	1.5	1180	$3,200	$2.71	25d	1	1.12mi
1433 8th St NE Auburn, WA	1.0–3.0	1.0–1.5	1025	$2,799	$2.73	0d	13	1.19mi
2455 F St SE Auburn, WA	1.0–3.0	1.0–2.0	757	$1,955	$2.58	4d	6	1.23mi
1910 N Ct SE Auburn, WA	3.0	2.0	1570	$2,900	$1.85	12d	1	1.24mi
1413 12th St NE Unit ADU Auburn, WA	3.0	1.0	1000	$2,400	$2.40	6d	1	1.32mi

Listing history 34 events

1. 2026-06-18
   days on market $399,999 Active 113 DOM
2. 2026-06-17
   days on market $399,999 Active 112 DOM
3. 2026-06-16
   days on market $399,999 Active 111 DOM
4. 2026-06-15
   days on market $399,999 Active 110 DOM
5. 2026-06-13
   days on market $399,999 Active 108 DOM
6. 2026-06-13
   days on market $399,999 Active 107 DOM
7. 2026-06-09
   days on market $399,999 Active 104 DOM
8. 2026-06-08
   days on market $399,999 Active 103 DOM
9. 2026-06-07
   days on market $399,999 Active 102 DOM
10. 2026-06-04
    days on market $399,999 Active 99 DOM
11. 2026-06-03
    days on market $399,999 Active 98 DOM
12. 2026-06-02
    days on market $399,999 Active 97 DOM
13. 2026-06-01
    days on market $399,999 Active 96 DOM
14. 2026-05-31
    days on market $399,999 Active 95 DOM
15. 2026-04-09
    price $399,999
16. 2026-03-16
    price $469,900
17. 2026-02-25
    listed $489,900 Active
18. 2022-01-20
    soldstatus $364,000 Closed
19. 2022-01-20
    soldstatus $364,000
20. 2021-12-09
    status Pending
21. 2021-10-29
    price $399,950
22. 2021-10-06
    price $415,000
23. 2021-09-18
    price $425,000
24. 2021-07-08
    listed $459,000 Active
25. 2005-04-01
    soldstatus $140,000
26. 2005-03-31
    soldstatus $137,000
27. 2005-01-20
    listed $137,000
28. 2001-07-10
    soldstatus $93,000
29. 2001-05-31
    soldstatus $93,000
30. 2001-04-11
    listed $95,000
31. 1993-08-17
    soldstatus $92,000
32. 1985-06-14
    soldstatus $46,500
33. 1983-04-29
    soldstatus $43,950
34. 1978-07-14
    soldstatus $20,000

ⓘ 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: $4,956 · $413/mo
• Projected year-2 tax: $4,956 · $413/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 ≥88°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: $54,624
• − Mortgage interest: −$22,406
• − Property taxes: −$4,956
• − Insurance: −$2,000
• − Repairs & maintenance: −$4,370
• − Management: −$4,370
• − Depreciation: −$11,636
• Taxable income: $4,886
• Est. tax owed @ 24.0%: −$1,173
• After-tax cash flow: $9,853/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): 37,460
• Household income: $106,791
• Rent vs Own: 26.1% rent · 73.9% own
• Severe rent burden: 573.0

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 0.71)
• Race & ethnicity: White 47% Asian 17% Hispanic / Latino 17% Two or more races 12% Black 8% Pacific Islander 2%
• Hispanic origin (detail): Mexican 13%
• Common ancestry: Subsaharan African 5% Portuguese 3% Italian 3%
• Foreign-born: 28% · Canada, South Korea, Vietnam
• Languages at home: 65% English-only · Spanish 12% Russian/Polish/Slavic 5% Korean 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: ▼ -616.80%
• Current HPI: 303.2883
• Rent YoY: ▲ 3.53%
• 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

+1900.0% since first listed

20 events — show timeline

• 2026-04-09 Price Changed $399,999 NWMLS as Distributed by MLS Grid
• 2026-03-16 Price Changed $469,900 NWMLS as Distributed by MLS Grid
• 2026-02-25 Listed $489,900 NWMLS as Distributed by MLS Grid
• 2022-01-20 Sold (Public Records) $364,000 Public Records
• 2022-01-20 Sold (MLS) $364,000 NWMLS as Distributed by MLS Grid
• 2021-12-09 Pending — NWMLS as Distributed by MLS Grid
• 2021-10-29 Price Changed $399,950 NWMLS as Distributed by MLS Grid
• 2021-10-06 Price Changed $415,000 NWMLS as Distributed by MLS Grid
• 2021-09-18 Price Changed $425,000 NWMLS as Distributed by MLS Grid
• 2021-07-08 Listed $459,000 NWMLS as Distributed by MLS Grid
• 2005-04-01 Sold (MLS) $140,000 NWMLS as Distributed by MLS Grid
• 2005-03-31 Sold (Public Records) $137,000 Public Records
• 2005-01-20 Listed $137,000 NWMLS as Distributed by MLS Grid
• 2001-07-10 Sold (Public Records) $93,000 Public Records
• 2001-05-31 Sold (MLS) $93,000 NWMLS as Distributed by MLS Grid
• 2001-04-11 Listed $95,000 NWMLS as Distributed by MLS Grid
• 1993-08-17 Sold (Public Records) $92,000 Public Records
• 1985-06-14 Sold (Public Records) $46,500 Public Records
• 1983-04-29 Sold (Public Records) $43,950 Public Records
• 1978-07-14 Sold (Public Records) $20,000 Public Records

Property tax history

+4.8%/yr

Latest (2025): $4,956 · +9.2% YoY. Source: county tax records.