11436 SE 208th St #134 · Kent, WA 98031

$69,950

2 bd · 2.0 ba · 1,344 sqft · Manufactured · 148 Days on market

Manufactured home 55+ age-restricted Built 1980 Good condition $52/sqft · 44% below area Est $124k · 44% 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 +22.5/30.0
• ARV discount +15.0/15.0
• 1% rule +7.5/10.0
• DSCR +7.5/10.0
• Schools +4.8/10.0
• Livability +4.0/5.0
• Condition / age +3.8/5.0
• Rent growth +3.4/5.0
• Appreciation +2.5/10.0
• Manufactured-home adj. -5.7

Listing remarks

PRICE REDUCE!!! MODERN LOOK, COMPLETED UPDATE! PRICE TO SALE. READY TO MOVE IN. Welcome to this designable 55+ PANTERA LAGO ESTATE Community. Home offer 2 bedroom, 2 bath, comfort, efficiency and peace of mind. New fresh interior paint, New laminate Floor (water proof), Kitchen fully renovated, paint kitchen cabinets, beautiful countertop. Step out side with cover Patio for your relaxing morning coffee, or enjoy natural surrounding by your Pond. Very private back yard. Home is comfort with heat pump, warm in Winter and Cool in Summer. Next to carport is Guest Parking for your guest. Easy to Freeway, closed by Shopping and all other services.

Key facts

• Guest parking
• Heat pump
• Private back yard

Tags

• NEW LAMINATE FLOOR
• KITCHEN FULLY RENOVATED
• COVER PATIO
• PRIVATE BACK YARD
• HEAT PUMP
• GUEST PARKING

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $70k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $993 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $70k).
• Recommended offer: $62k (12.0% below list) — sets the bar for market timing.
• Cap rate 23.3% vs local median 2.7% in Kent — 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 79/100 on livability (#109 in WA, #2,154 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, housing A+; Watch: crime F, cost of living F.
• Kent School District (urban): math 47% / reading 57% proficiency, ranked #109 of 291 in WA (top 38%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Glenridge Elementary (446 students, 58% FRL); Meeker Middle School (603 students, 74% FRL); Kentridge High School (2,034 students, 42% FRL) — zoned schools average 58% FRL vs 41% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+3.5%/yr); 238 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals lingering (median 67d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 80% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $484 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 + 3.5% rent growth), your $20k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 148 days — a 12% lower offer ($62k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 17y ago; this cycle's ask has dropped $29k (29%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $46k; list at $70k implies a 54% gain — meaningful room to come down on a strong offer.

Recommended offer $61,556 (12.0% below list)

Questions for the listing agent

1. It's been on market 148 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: 2.67% ✓
• Cap rate: 23.33%
• Cash-on-cash: 60.86%
• DSCR: 3.71
• GRM: 3.1

CMA / ARV

• ARV (median comp): $124,296
• List price: $69,950
• Delta: -43.72%
• Verdict: UNDERPRICED
• Comps: 11 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
11436 SE 208th St #180	0.04mi	2/2.0	1,440 (+7%)	7mo	$132,500	$92	81
11436 SE 208th St #136	0.09mi	2/2.0	1,152 (-14%)	1mo	$65,000	$56	71
11436 SE 208th St #88	0.06mi	3/2.0 (+1)	1,464 (+9%)	10mo	$126,000	$86	70
20750 113th Pl SE	0.16mi	3/2.0 (+1)	1,456 (+8%)	6mo	$65,000	$45	69
11436 SE 208th St #36	0.06mi	3/2.0 (+1)	1,500 (+12%)	7mo	$168,000	$112	67
11436 SE 208th St #170	0.06mi	2/2.0	1,250 (-7%)	23mo	$130,000	$104	67
20744 113th Pl SE	0.15mi	2/2.0	1,250 (-7%)	24mo	$105,000	$84	61
11436 SE 208th St #116	0.06mi	2/2.0	1,498 (+12%)	22mo	$145,000	$97	60
11436 SE 208th St #92	0.04mi	3/2.0 (+1)	1,536 (+14%)	18mo	$133,500	$87	54
12218 SE 206th St	0.57mi	3/2.0 (+1)	1,480 (+10%)	8mo	$415,000	$280	45

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: 60.3%
• Equity multiple: 3.70×
• Total profit: $52,962
• Equity at exit: $10,430

10-year hold

• IRR: 65.1%
• Equity multiple: 7.73×
• Total profit: $131,856
• Equity at exit: $6,048

Cash invested: $19,586 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 9 active · 4 under contract
• Months of supply: 10.8 mo (9%/mo absorbed)
• Median asking: $115,000 ($84/sqft)
• Median days on market: 153 d
• This list price: lowest-priced of the active set
• ARV vs active asking: +10.1% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 98031

• Rents YoY: 3.5%
• Active inventory: 238
• Price-to-rent: 3.1×

Monthly cashflow live

• Estimated rent: $1,869 high
• Mortgage (P&I): −$367
• Tax est. 1.5%: −$87 /mo · $1,049/yr
• Insurance: −$29
• HOA: −$0
• Lot rent leased land?: −$0
• Vacancy / Maint / Mgmt: −$393
• Net cashflow: $993

Break-even live

Break-even rent $612

Max offer price $69,950

Occupancy floor 42%

Sensitivity live

Price	-10% $1,042	-5% $1,018	+0% $993	+5% $969	+10% $945
Rent	-10% $846	-5% $920	+0% $993	+5% $1,067	+10% $1,141
Rate	-1.0pp $1,029	-0.5pp $1,011	base $993	+0.5pp $975	+1.0pp $957

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: $17,488
• Closing costs: $2,098
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
20803 110th Ln SE Kent, WA	2.0	2.5	1361	$2,845	$2.09	93d	1	0.27mi
20805 109th Ln SE Kent, WA	2.0	1.5	1250	$2,700	$2.16	93d	1	0.29mi
11101 SE 208th St Kent, WA	1.0–3.0	1.0–2.0	971	$2,104	$2.17	11d	19	0.35mi
12012 SE 210th St Kent, WA	3.0	1.5	1230	$1,820	$1.48	73d	1	0.51mi
20506 103rd Ave SE Kent, WA	3.0	1.0	1180	$2,295	$1.94	73d	1	0.63mi
19388 114th Pl SE Kent, WA	3.0	2.5	1600	$3,095	$1.93	93d	1	0.75mi
21822 107th Pl SE #6 Kent, WA	3.0	1.5	1152	$1,525	$1.32	71d	1	0.88mi
21232 127th Pl SE Kent, WA	3.0	1.5	1100	$1,550	$1.41	34d	1	1.01mi
11500 SE 221st Pl Kent, WA	3.0	2.5	1770	$3,100	$1.75	93d	1	1.02mi
18870 108th Ln SE Renton, WA	3.0	2.5	1790	$2,999	$1.68	13d	1	1.12mi
21627 127th Pl SE Kent, WA	3.0	2.0	1420	$3,095	$2.18	66d	1	1.13mi
10716 SE 224th Pl Kent, WA	3.0	2.0	1200	$2,900	$2.42	36d	1	1.22mi
9333 S 200th St Kent, WA	3.0	1.0	1060	$2,450	$2.31	53d	1	1.25mi
11211 SE 226th St Kent, WA	3.0	2.0	1012	$2,250	$2.22	67d	1	1.30mi
5301 Talbot Rd S Renton, WA	2.0–3.0	1.0–2.0	1097	$2,221	$2.02	7d	6	1.49mi

Listing history 50 events

1. 2026-08-08
   days on market $69,950 Active 148 DOM
2. 2026-08-06
   days on market $69,950 Active 146 DOM
3. 2026-08-05
   days on market $69,950 Active 145 DOM
4. 2026-08-04
   days on market $69,950 Active 144 DOM
5. 2026-08-03
   days on market $69,950 Active 143 DOM
6. 2026-07-31
   days on market $69,950 Active 140 DOM
7. 2026-07-30
   days on market $69,950 Active 139 DOM
8. 2026-07-30
   days on market $69,950 Active 138 DOM
9. 2026-07-28
   days on market $69,950 Active 137 DOM
10. 2026-07-26
    days on market $69,950 Active 135 DOM
11. 2026-07-24
    days on market $69,950 Active 133 DOM
12. 2026-07-23
    days on market $69,950 Active 132 DOM
13. 2026-07-22
    days on market $69,950 Active 131 DOM
14. 2026-07-21
    days on market $69,950 Active 130 DOM
15. 2026-07-20
    days on market $69,950 Active 129 DOM
16. 2026-07-18
    days on market $69,950 Active 127 DOM
17. 2026-07-18
    days on market $69,950 Active 126 DOM
18. 2026-07-16
    days on market $69,950 Active 125 DOM
19. 2026-07-15
    days on market $69,950 Active 124 DOM
20. 2026-07-14
    days on market $69,950 Active 123 DOM
21. 2026-07-13
    days on market $69,950 Active 122 DOM
22. 2026-07-13
    days on market $69,950 Active 121 DOM
23. 2026-07-11
    days on market $69,950 Active 120 DOM
24. 2026-07-10
    days on market $69,950 Active 119 DOM
25. 2026-07-09
    days on market $69,950 Active 118 DOM
26. 2026-07-08
    remarks 649-char remark
27. 2026-07-08
    price $69,950 Active 116 DOM
28. 2026-07-07
    days on market $79,950 Active 116 DOM
29. 2026-07-06
    days on market $79,950 Active 115 DOM
30. 2026-07-06
    days on market $79,950 Active 114 DOM
31. 2026-07-05
    days on market $79,950 Active 113 DOM
32. 2026-07-03
    days on market $79,950 Active 112 DOM
33. 2026-07-02
    days on market $79,950 Active 111 DOM
34. 2026-07-01
    days on market $79,950 Active 110 DOM
35. 2026-07-01
    price $79,950 Active 109 DOM
36. 2026-06-30
    days on market $84,950 Active 109 DOM
37. 2026-06-29
    days on market $84,950 Active 108 DOM
38. 2026-06-28
    days on market $84,950 Active 107 DOM
39. 2026-06-27
    days on market $84,950 Active 106 DOM
40. 2026-06-26
    days on market $84,950 Active 105 DOM
41. 2026-06-24
    days on market $84,950 Active 103 DOM
42. 2026-06-22
    days on market $84,950 Active 101 DOM
43. 2026-06-21
    days on market $84,950 Active 100 DOM
44. 2026-06-18
    days on market $84,950 Active 97 DOM
45. 2026-06-17
    days on market $84,950 Active 96 DOM
46. 2026-06-16
    days on market $84,950 Active 95 DOM
47. 2026-06-15
    pricedays on market $84,950 Active 94 DOM
48. 2026-06-13
    days on market $89,950 Active 92 DOM
49. 2026-06-09
    days on market $89,950 Active 88 DOM
50. 2026-06-08
    days on market $89,950 Active 87 DOM

ⓘ 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 8/10 Severe 12 unhealthy d/yr today · 12 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,432
• − Mortgage interest: −$3,918
• − Property taxes: −$1,049
• − Insurance: −$350
• − Repairs & maintenance: −$1,795
• − Management: −$1,795
• − Depreciation: −$2,035
• Taxable income: $11,490
• Est. tax owed @ 24.0%: −$2,758
• After-tax cash flow: $9,162/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 · 9 photos

Good 75/100 Cosmetic rehab Est. rehab $6,720–$20,160 screening

This 55+ Pantera Lago Estate mobile home is in good condition with recent updates, ready for move-in and showing well in photos.

Value-add opportunities

• Both Paint exterior siding — Fresh paint enhances curb appeal and value. ↑
• Both Landscaping improvements — A well-maintained yard increases curb appeal and rental value. ↑
• Resale Replace countertops — Modern countertops improve the kitchen's appearance and functionality. ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

Zoned Schools

Elementary Glenridge Elementary Middle Meeker Middle School High Kentridge High School

Schools (NCES district)

• District: Kent School District
• NCES district ID: 5303960
• Math proficiency: 47% ▼ -1.00%
• Reading proficiency: 57% ▼ -1.00%
• Median HH income: $69,823
• Composite: 48.25/100
• National rank: #4714
• State rank: #109 of 291 in WA

B Composite livability gradescore 79/100

Livability — Kent

• Score: 79/100
• State rank: #109
• US rank: #2154

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Kent, WA
• County: King County · 2,576,485 people
• City population: 119,479
• Metro: Seattle-Tacoma-Bellevue, WA
• Population (ZIP): 40,094
• Household income: $105,965
• Rent vs Own: 32.8% rent · 67.2% own
• Severe rent burden: 12% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.77)
• Race & ethnicity: White 36% Asian 27% Black 13% Hispanic / Latino 13% Two or more races 13% Pacific Islander 1%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Italian 5% Portuguese 2% Subsaharan African 2%
• Foreign-born: 31% · Canada, Vietnam, China
• Languages at home: 58% English-only · Spanish 9% Other Indo-European 7% Vietnamese 4%

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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: ▼ -673.58%
• Current HPI: 308.1747
• Rent YoY: ▲ 3.53%
• Metro: Seattle-Tacoma-Bellevue, WA
• State GDP YoY: ▲ 4.65%
• F500 in state: 22

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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

+80.1% since first listed

7 events — show timeline

• 2026-04-15 Price Changed $89,950 NWMLS as Distributed by MLS Grid
• 2026-03-30 Price Changed $94,950 NWMLS as Distributed by MLS Grid
• 2026-03-06 Listed $98,950 NWMLS as Distributed by MLS Grid
• 2009-08-19 Sold (MLS) $45,500 NWMLS as Distributed by MLS Grid
• 2009-08-04 Pending — NWMLS as Distributed by MLS Grid
• 2009-07-09 Price Changed $46,950 NWMLS as Distributed by MLS Grid
• 2009-02-08 Listed $49,950 NWMLS as Distributed by MLS Grid