425 H St NE · Auburn, WA 98002

$1,200,000

36 bd · 36.0 ba · 3,250 sqft · MultiFamily public records · 296 Days on market

Built 1958 0.36 ac lot

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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).

• Cash flow +11.1/30.0
• ARV discount +7.5/15.0
• Schools +4.7/10.0
• Livability +4.0/5.0
• DSCR +3.2/10.0
• Rent growth +2.9/5.0
• 1% rule +2.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 6 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Centrally located near schools, shopping & transit, this well-kept 6-unit complex features 1 bed/1 bath units (541 sq. ft. ), each updated on turnover. $50K+ in recent renovations including new electrical panels. Extra income from on-site coin-op laundry. Each unit includes its own covered parking, plus plenty additional parking on the property. Strong rental history with low vacancy. Fully occupied. Long-term tenants are month-to-month and eager to stay. Large lot with expansion potential (buyer to verify). Whether you’re just starting out or growing your portfolio, this rare Auburn 6-plex offers stability, upside, and lasting returns. Sold as is!

Key facts

• Covered parking
• Recent renovations
• Large lot

Tags

• RECENT RENOVATIONS
• ON-SITE COIN-OP LAUNDRY
• COVERED PARKING
• ADDITIONAL PARKING
• STRONG RENTAL HISTORY
• LARGE LOT

Property features AI

Finance

• Other: Property classified as 5-9 units (style code); Calculated total building area reported at 3,250 square feet
• Financial info: Total monthly income reported at $7,600; Gross scheduled income reported at $106,800; Gross adjusted income reported at $101,460; Net operating income reported at $75,849; Total expenses reported at $25,610.80; Electric expense reported at $550.20; Insurance expense reported at $2,714; Gross rent multiplier reported at 11.24; Vacancy rate reported at 5%; Listing terms: Cash or Conventional
• HOA & community: Coin-operated laundry serves the community

Exterior

• Parking: Open parking available; Carport spaces; Covered parking spaces; RV parking
• Security: Partially fenced property
• Utilities: Electric energy source; Power provided by PSE; Sewer connected (City of Auburn); Water service (City of Auburn)
• Home design: Multi-family residential income property; Building contains 6 units; Two stories; Good condition; Has a view
• Construction: Wood construction; Torch down roof; Pillar/post/pier foundation; Effective year built 1993
• Exterior features: Partially fenced; Patio; RV parking; Wood exterior products; Curbs, paved areas and sidewalks; Cable TV and high-speed internet available

Interior

• Kitchen: Each unit includes a range/oven; Most units include a refrigerator; Dishwasher not provided in units
• Bedrooms: Six 1-bedroom units (each listed as 1 bedroom)
• Flooring: Vinyl flooring in portions of the building; Carpet in portions of the building
• Bathrooms: Six 1-bathroom units (each listed as 1 bathroom)
• Heating & cooling: Wall furnace heating; No cooling system
• Interior features: Vinyl and carpet flooring; Wall furnace heating; No central air
• Laundry & utility: Coin-operated laundry on site; Individual units do not include washer/dryer

What this means for you Summary

Snapshot

• This is a 6 × 1-bed/1.0-bath units multifamily listed at $1.20M.

Deal economics

• At list price, monthly cash flow is $-492 ($-6k/yr) — negative. Per door: $-82/mo.
• To cash-flow at today's rent, offer at most $1.11M (7.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $910k (24.1% below list).
• Recommended offer: $910k (24.1% below list) — sets the bar for 1% rule.
• Cap rate 5.8% 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); 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 (+1.5%/yr); 171 active listings in the ZIP; solid renter incomes; 10,555 units permitted in King County in 2024 (7,119 in 5+ unit buildings).
• At $9,104/mo this rent would consume 139% of the median local household income ($79k/yr) (locally 2202% 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 $8k of loan paydown is wiped out by about $36k 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 296 days — a 12% lower offer ($1.06M) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 7y ago 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.
• Current owner paid $875k; 37% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1958 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $910,400 (24.1% 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 296 days. Have you received any prior offers? Is the seller open to a 24% concession, seller financing, or rate buy-down credit?
3. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
4. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
5. Built in 1958 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 0.76% ✗
• Cap rate: 5.80%
• Cash-on-cash: -1.76%
• DSCR: 0.92
• GRM: 11.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.51% rent growth · sell at horizon

5-year hold

• IRR: -20.8%
• Equity multiple: 0.29×
• Total profit: $-239,452
• Equity at exit: $178,924

10-year hold

• IRR: -17.6%
• Equity multiple: 0.10×
• Total profit: $-303,354
• Equity at exit: $103,754

Cash invested: $336,000 (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 98002

• Rents YoY: 1.5%
• Active inventory: 171
• Price-to-rent: 65.9×

Monthly cashflow live

• Estimated rent: $9,104 high
• Mortgage (P&I): −$6,293
• Tax from tax record: −$891 /mo · $10,691/yr
• Insurance: −$500
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,912
• Net cashflow: $-492

Break-even live

Break-even rent $9,726

Max offer price $1,113,147

Occupancy floor —

Sensitivity live

Price	-10% $188	-5% $-152	+0% $-492	+5% $-831	+10% $-1,171
Rent	-10% $-1,211	-5% $-851	+0% $-492	+5% $-132	+10% $228
Rate	-1.0pp $113	-0.5pp $-186	base $-492	+0.5pp $-803	+1.0pp $-1,119

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

Units	Beds	Baths	Est. rent
▸ 6× units	1	1	$9,102
Total (6 units)			$9,104

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: $300,000
• Closing costs: $36,000
• Reserves months: —
• Total cash needed: —

Listing history 31 events

1. 2026-06-18
   days on market $1,200,000 Active 296 DOM
2. 2026-06-17
   days on market $1,200,000 Active 295 DOM
3. 2026-06-16
   days on market $1,200,000 Active 294 DOM
4. 2026-06-15
   days on market $1,200,000 Active 293 DOM
5. 2026-06-13
   days on market $1,200,000 Active 291 DOM
6. 2026-06-13
   days on market $1,200,000 Active 290 DOM
7. 2026-06-09
   days on market $1,200,000 Active 287 DOM
8. 2026-06-08
   days on market $1,200,000 Active 286 DOM
9. 2026-06-07
   days on market $1,200,000 Active 285 DOM
10. 2026-06-04
    days on market $1,200,000 Active 282 DOM
11. 2026-06-03
    days on market $1,200,000 Active 281 DOM
12. 2026-06-02
    days on market $1,200,000 Active 280 DOM
13. 2026-06-01
    days on market $1,200,000 Active 279 DOM
14. 2026-05-31
    days on market $1,200,000 Active 278 DOM
15. 2025-08-26
    listed $1,200,000 Active
16. 2023-02-22
    soldstatus $875,000
17. 2023-02-21
    soldstatus $875,000 Closed
18. 2022-12-07
    status Pending
19. 2022-10-27
    price $950,000
20. 2022-10-13
    price $975,000
21. 2022-09-15
    listed $1,000,000 Active
22. 2019-05-22
    soldstatus $785,000 Sold
23. 2019-05-22
    soldstatus $785,000
24. 2019-04-04
    status Pending
25. 2019-03-12
    status Pending Feasibility
26. 2019-02-22
    status Active
27. 2019-02-13
    status Pending Feasibility
28. 2019-01-23
    listed $795,000 Active
29. 2016-09-07
    soldstatus $420,000
30. 1981-07-15
    soldstatus $145,000
31. 1979-09-17
    soldstatus $111,500

ⓘ 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: $10,691 · $891/mo
• Projected year-2 tax: $11,760 · $980/mo
• Expected delta: +$1,069/yr (+$89/mo · 10.0%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 71% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥87°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: $109,248
• − Mortgage interest: −$67,219
• − Property taxes: −$10,691
• − Insurance: −$6,000
• − Repairs & maintenance: −$8,740
• − Management: −$8,740
• − Depreciation: −$34,909
• Taxable loss: −$27,050
• Est. tax savings @ 24.0%: +$6,492
• After-tax cash flow: $592/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

+976.2% since first listed

17 events — show timeline

• 2025-08-26 Listed $1,200,000 NWMLS as Distributed by MLS Grid
• 2023-02-22 Sold (Public Records) $875,000 Public Records
• 2023-02-21 Sold (MLS) $875,000 NWMLS as Distributed by MLS Grid
• 2022-12-07 Pending — NWMLS as Distributed by MLS Grid
• 2022-10-27 Price Changed $950,000 NWMLS as Distributed by MLS Grid
• 2022-10-13 Price Changed $975,000 NWMLS as Distributed by MLS Grid
• 2022-09-15 Listed $1,000,000 NWMLS as Distributed by MLS Grid
• 2019-05-22 Sold (Public Records) $785,000 Public Records
• 2019-05-22 Sold (MLS) $785,000 NWMLS as Distributed by MLS Grid
• 2019-04-04 Pending — NWMLS as Distributed by MLS Grid
• 2019-03-12 Pending — NWMLS as Distributed by MLS Grid
• 2019-02-22 Relisted — NWMLS as Distributed by MLS Grid
• 2019-02-13 Pending — NWMLS as Distributed by MLS Grid
• 2019-01-23 Listed $795,000 NWMLS as Distributed by MLS Grid
• 2016-09-07 Sold (Public Records) $420,000 Public Records
• 1981-07-15 Sold (Public Records) $145,000 Public Records
• 1979-09-17 Sold (Public Records) $111,500 Public Records

Property tax history

+4.9%/yr

Latest (2025): $10,691 · -2.2% YoY. Source: county tax records.