725 37th St SE #51 · Auburn, WA 98002

$115,000

3 bd · 2.0 ba · 924 sqft · Manufactured · 42 Days on market

Built 1982 Good condition Est $108k · 6% over

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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
• Schools +4.7/10.0
• ARV discount +4.6/15.0
• Livability +4.0/5.0
• Condition / age +4.0/5.0
• Rent growth +2.9/5.0
• Appreciation +0.0/10.0

Listing remarks

Completely UPDATED & move in ready 3 bedroom, 2 bath Auburn home in an ALL-AGE park! This cute home has a remodeled kitchen with painted shaker style cabinets, granite counters, stainless steel appliances, 2 big pantry/storage closets, an eating bar & dining area with wood accent wall. Laminate flooring throughout the living space, & a good sized living room. One full bath with trendy shiplap wall, & another 3/4 bath with updated walk-in shower with glass door. Front load washer & dryer stay, so does portable AC. Carport big enough for up to 3 cars, storage shed, front & side yard landscaping with grass & plants, fully fenced & private back pati

Key facts

• Remodeled kitchen
• Granite counters
• Eating bar

Tags

• REMODELED KITCHEN
• PAINTED SHAKER STYLE CABINETS
• GRANITE COUNTERS
• STAINLESS STEEL APPLIANCES
• BIG PANTRY STORAGE CLOSETS
• EATING BAR

Property features AI

Finance

• Other: Buyer broker compensation: 2.5%
• Financial info: Land lease: $1,250; Accepted listing terms: Cash, Conventional
• HOA & community: Don Wan Estates park with 76 homes; Park amenities include common area, recreational area, RV parking, sidewalks; Pets allowed (cats and dogs; see remarks)

Exterior

• Parking: Carport
• Utilities: Electric energy source; Community water (Lakehaven); Sewer: City of Auburn; Power: PSE; Cable: Xfinity; Internet: Xfinity
• Home design: Manufactured home (single wide); Single-story; Manufactured after 06/15/1976; Entry on one level; Model SNDP 66/14; Make SNDP; Mobile home remains
• Construction: Metal/vinyl construction; Torch down roof; Pillar/post/pier foundation
• Exterior features: Metal/vinyl exterior; Patio/porch/deck; Shed; Landscaped; Paved lot with sidewalks; Has a view

Interior

• Kitchen: Dishwasher; Garbage disposal; Microwave; Refrigerator; Stove/Range
• Bedrooms: 3 bedrooms
• Flooring: Laminate; Carpet
• Bathrooms: 1 full bath; 1 three-quarter bath; 1 bathtub; 2 showers
• Heating & cooling: Forced air heating; Window cooling units
• Interior features: Water heater; Dining room; Kitchen with eating space; Living room; Double pane windows; Drapes
• Laundry & utility: Washer; Dryer; Water heater (electric) located in back bedroom closet

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $115k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $683 ($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 13.4% 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: Gildo Rey Elementary School (412 students, 76% FRL); Auburn Riverside High School (1,909 students, 50% FRL) — zoned schools average 63% FRL vs 44% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+1.5%/yr); 171 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals leasing fast (median 5d 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 + 1.5% rent growth), your $32k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 42 days — a 3% lower offer ($112k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y ago; this cycle's ask has dropped $10k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

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

Questions for the listing agent

1. It's been on market 42 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 1.63% ✓
• Cap rate: 13.42%
• Cash-on-cash: 25.44%
• DSCR: 2.13
• GRM: 5.1

CMA / ARV

• ARV (on-the-fly): $108,108
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
418 37th St SE	0.25mi	3/2.0	924 (0%)	8mo	$225,000	$244	82
401 37th St SE #110	0.26mi	3/1.0	980 (+6%)	3mo	$127,000	$130	72
900 29th St SE Unit D-11	0.47mi	3/2.0	960 (+4%)	3mo	$71,750	$75	69
401 37th St SE #112	0.27mi	3/2.0	980 (+6%)	11mo	$134,000	$137	68
3225 M St SE #131	0.36mi	2/2.0 (-1)	900 (-3%)	8mo	$105,000	$117	67
401 37th St SE #109	0.27mi	3/2.0	980 (+6%)	14mo	$126,500	$129	66
210 37th St SE #64	0.38mi	2/2.0 (-1)	960 (+4%)	7mo	$72,000	$75	65
401 37th St SE #20	0.27mi	2/1.0 (-1)	896 (-3%)	12mo	$100,000	$112	63
4248 A St SE #205	0.57mi	2/2.0 (-1)	960 (+4%)	1mo	$85,000	$89	61
4248 A St SE #317	0.51mi	2/2.0 (-1)	924 (0%)	14mo	$59,900	$65	60
800 29 TH St SE Unit G-12	0.47mi	2/1.0 (-1)	980 (+6%)	0mo	$86,000	$88	59
4248 A St SE #241	0.51mi	3/1.5	1,056 (+14%)	14mo	$135,000	$128	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 · 1.51% rent growth · sell at horizon

5-year hold

• IRR: 17.3%
• Equity multiple: 1.69×
• Total profit: $22,104
• Equity at exit: $17,147

10-year hold

• IRR: 24.7%
• Equity multiple: 3.00×
• Total profit: $64,340
• 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 98002

• Rents YoY: 1.5%
• Active inventory: 171
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $1,870 high
• Mortgage (P&I): −$603
• Tax est. 1.5%: −$144 /mo · $1,725/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$393
• Net cashflow: $683

Break-even live

Break-even rent $1,006

Max offer price $115,000

Occupancy floor 58%

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 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1014 37th St SE Apt 4 Auburn, WA	2.0	2.0	1005	$1,780	$1.77	5d	1	0.14mi
1120 37th St SE Auburn, WA	2.0	1.0	788	$1,695	$2.15	12d	1	0.19mi
2952 O St SE Unit F Auburn, WA	2.0	1.0	1051	$1,495	$1.42	2d	1	0.55mi
2952 O St SE Unit D Auburn, WA	2.0	1.0	795	$1,375	$1.73	2d	1	0.55mi
1526 29th St SE Auburn, WA	2.0	1.0	912	$1,595	$1.75	24d	1	0.60mi
404 27th St SE Unit 19-1 Auburn, WA	2.0	1.0	1000	$1,750	$1.75	12d	1	0.64mi
703 47th St SE Auburn, WA	2.0	1.0–2.0	781	$1,970	$2.52	2d	7	0.68mi
732 4th Ave NE Pacific, WA	2.0	1.0	850	$1,805	$2.12	5d	2	0.73mi
2455 F St SE Auburn, WA	1.0–3.0	1.0–2.0	757	$1,955	$2.58	3d	6	0.79mi
402 21st St SE Auburn, WA	1.0–2.0	1.0–1.5	747	$1,695	$2.27	15d	4	0.97mi
2020 F St SE Auburn, WA	1.0–2.0	1.0	725	$1,599	$2.21	24d	1	1.02mi
1420 17th St SE Auburn, WA	1.0–2.0	1.0	725	$1,695	$2.34	3d	4	1.27mi
508 4th Ave SE Pacific, WA	2.0	1.0	885	$2,100	$2.37	24d	1	1.43mi
2901 Auburn Way S Auburn, WA	1.0–2.0	1.0	667	$2,175	$3.26	2d	20	1.48mi

Listing history 18 events

1. 2026-06-18
   days on market $115,000 Active 42 DOM
2. 2026-06-17
   days on market $115,000 Active 41 DOM
3. 2026-06-16
   days on market $115,000 Active 40 DOM
4. 2026-06-15
   days on market $115,000 Active 39 DOM
5. 2026-06-13
   days on market $115,000 Active 37 DOM
6. 2026-06-13
   days on market $115,000 Active 36 DOM
7. 2026-06-09
   days on market $115,000 Active 33 DOM
8. 2026-06-08
   days on market $115,000 Active 32 DOM
9. 2026-06-07
   days on market $115,000 Active 31 DOM
10. 2026-06-04
    days on market $115,000 Active 28 DOM
11. 2026-06-03
    days on market $115,000 Active 27 DOM
12. 2026-06-02
    days on market $115,000 Active 26 DOM
13. 2026-06-01
    days on market $115,000 Active 25 DOM
14. 2026-05-31
    days on market $115,000 Active 24 DOM
15. 2026-05-07
    listed $125,000 Active
16. 2023-08-23
    soldstatus $115,000 Closed
17. 2023-08-02
    status Pending
18. 2023-06-22
    listed $110,000 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 2/10 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 10 unhealthy d/yr today · 11 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,440
• − Mortgage interest: −$6,442
• − Property taxes: −$1,725
• − Insurance: −$575
• − Repairs & maintenance: −$1,795
• − Management: −$1,795
• − Depreciation: −$3,345
• Taxable income: $6,763
• Est. tax owed @ 24.0%: −$1,623
• After-tax cash flow: $6,568/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

Good 80/100 Cosmetic rehab

This fully updated and move-in ready manufactured home is in excellent condition with no major repairs needed. It offers a great value for both resale and rental markets.

Value-add opportunities

• Both Painting exterior siding — Enhances curb appeal and value
• Both Landscaping improvements — Enhances curb appeal and value
• Both Replace window treatments — Enhances curb appeal and value

Renovation cost estimate screening

Value-add ROI direction

• Both Painting exterior siding — Enhances curb appeal and value ↑
• Both Landscaping improvements — Enhances curb appeal and value ↑
• Both Replace window treatments — Enhances curb appeal and value ↑

ⓘ 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: 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

+13.6% since first listed

4 events — show timeline

• 2026-05-07 Listed $125,000 NWMLS as Distributed by MLS Grid
• 2023-08-23 Sold (MLS) $115,000 NWMLS as Distributed by MLS Grid
• 2023-08-02 Pending — NWMLS as Distributed by MLS Grid
• 2023-06-22 Listed $110,000 NWMLS as Distributed by MLS Grid