375 Union Ave SE #152 · Renton, WA 98059

$199,996

4 bd · 2.0 ba · 1,809 sqft · Manufactured · 10 Days on market

Built 1985 Good condition $111/sqft · 18% above area Est $170k · 18% 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
• Livability +4.2/5.0
• Condition / age +4.0/5.0
• Rent growth +2.6/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to the sought-after Sunnydale all-age community, offering fantastic amenities including a pool, clubhouse, basketball court, and playground. This beautifully updated home features 4 bedrooms and 2 bathrooms with an inviting open-concept layout and vaulted ceilings that create a bright and spacious feel throughout. The living room is warm and welcoming with a cozy wood-burning fireplace. The stunning kitchen has been fully updated with stainless steel appliances, quartz countertops, a sleek island, and a custom backsplash—perfect for both everyday living and entertaining. The oversized primary suite offers a walk-in closet and a luxurious ensuite bathroom with custom tile work,

Key facts

• Clubhouse
• Basketball court
• Pool

Tags

• POOL
• CLUBHOUSE
• BASKETBALL COURT
• PLAYGROUND
• OPEN-CONCEPT LAYOUT
• WOOD-BURNING FIREPLACE

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath manufactured listed at $200k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $1k ($18k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $200k).
• Cap rate 15.1% vs local median 2.3% in Renton — 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 83/100 on livability (#52 in WA, #949 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, employment A+; Watch: crime D-, cost of living F.
• 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 flat; 255 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 10,555 units permitted in King County in 2024 (7,119 in 5+ unit buildings).
• This rent runs 31% of the median local income ($139k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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 + 0.3% rent growth), your $56k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $199,996

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
3. Crime grade is D 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: 1.81% ✓
• Cap rate: 15.12%
• Cash-on-cash: 31.53%
• DSCR: 2.40
• GRM: 4.6

CMA / ARV

• ARV (median comp): $170,147
• List price: $199,996
• Delta: 17.54%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
375 Union Ave SE #152	0.00mi	4/2.0	1,809 (0%)	0mo	$235,000	$130	100
201 Union Ave SE #183	0.20mi	3/2.0 (-1)	1,876 (+4%)	3mo	$65,000	$35	77
201 Union Ave SE #197	0.22mi	3/2.0 (-1)	2,040 (+13%)	7mo	$125,000	$61	58
375 Union Ave SE #86	0.09mi	3/2.0 (-1)	1,568 (-13%)	14mo	$165,000	$105	57

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 · 0.29% rent growth · sell at horizon

5-year hold

• IRR: 23.3%
• Equity multiple: 1.92×
• Total profit: $51,780
• Equity at exit: $29,820

10-year hold

• IRR: 29.5%
• Equity multiple: 3.30×
• Total profit: $128,720
• Equity at exit: $17,292

Cash invested: $55,999 (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 98059

• Rents YoY: 0.3%
• Active inventory: 255
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $3,612 high
• Mortgage (P&I): −$1,049
• Tax est. 1.5%: −$250 /mo · $3,000/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$759
• Net cashflow: $1,472

Break-even live

Break-even rent $1,750

Max offer price $199,996

Occupancy floor 54%

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: $49,999
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2902 SE 11th Pl #1066 Renton, WA	4.0	3.0	1823	$3,299	$1.81	24d	1	0.79mi
15205 140th Way SE Renton, WA	1.0–3.0	1.0–2.0	1121	$3,665	$3.27	2d	10	0.89mi
1601 Olympia Ave SE Renton, WA	4.0	2.5	2230	$3,600	$1.61	44d	1	0.91mi
5027 NE 5th Pl Renton, WA	3.0	2.5	1287	$3,300	$2.56	24d	1	1.10mi
2227 SE 8th Pl Renton, WA	3.0	2.0	1560	$3,650	$2.34	4d	1	1.12mi
706 Bremerton Pl NE Renton, WA	4.0	2.5	1850	$3,600	$1.95	2d	1	1.15mi
2615 SE 16th St Renton, WA	4.0	3.0	1910	$3,100	$1.62	2d	1	1.17mi
4627 NE 7th Pl Renton, WA	4.0	2.5	1870	$3,595	$1.92	24d	1	1.18mi
3523 SE 18th St Renton, WA	4.0	2.5	2517	$4,500	$1.79	15d	1	1.22mi
850 Bremerton Ave NE Renton, WA	4.0	2.5	2010	$3,490	$1.74	44d	1	1.28mi

Listing history 2 events

1. 2026-05-02
   status Pending
2. 2026-04-22
   listed $199,996 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 ≥86°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: $43,347
• − Mortgage interest: −$11,203
• − Property taxes: −$3,000
• − Insurance: −$1,000
• − Repairs & maintenance: −$3,468
• − Management: −$3,468
• − Depreciation: −$5,818
• Taxable income: $15,391
• Est. tax owed @ 24.0%: −$3,694
• After-tax cash flow: $13,965/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 updated manufactured home in Sunnydale offers a good condition with a fresh paint job and updated kitchen, making it a great investment opportunity.

Value-add opportunities

• Both Paint exterior walls — Enhances curb appeal and value
• Both Clean gutters — Improves drainage and property value

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior walls — Enhances curb appeal and value ↑
• Both Clean gutters — Improves drainage and property 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: 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 — Renton

• Score: 83/100
• State rank: #52
• US rank: #949

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Renton, WA
• County: King County · 2,251,916 people
• City population: 158,600
• Metro: Seattle-Tacoma-Bellevue, WA
• Population (ZIP): 42,406
• Household income: $138,654
• Rent vs Own: 23.4% rent · 76.6% own
• Severe rent burden: 908.0

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: Diverse neighborhood (Simpson 0.68)
• Race & ethnicity: White 48% Asian 29% Two or more races 15% Hispanic / Latino 9% Black 2%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Portuguese 3% Italian 3% Slovak 2%
• Foreign-born: 23% · China, Vietnam, Canada
• Languages at home: 67% English-only · Chinese 9% Vietnamese 6% Spanish 5%

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: ▼ -920.66%
• Current HPI: 338.4495
• Rent YoY: ▲ 0.29%
• 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

2 events — show timeline

• 2026-05-02 Pending — NWMLS as Distributed by MLS Grid
• 2026-04-22 Listed $199,996 NWMLS as Distributed by MLS Grid