272 Grand Fir Dr #26 · Enumclaw, WA 98022

$185,000

3 bd · 2.0 ba · 1,456 sqft · Manufactured · 129 Days on market

Built 1992 Good condition $127/sqft · 23% above area Est $150k · 23% over

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Why this score? — see what drove the C+ 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 +28.7/30.0
• DSCR +10.0/10.0
• 1% rule +8.0/10.0
• Schools +5.5/10.0
• Livability +4.4/5.0
• Condition / age +4.0/5.0
• Rent growth +3.6/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Spacious 3 Bedroom 2 Bath Home. Totally Updated and Move in Turn Key Ready. Open Spacious Bright Kitchen with Ample Amount of Real Wood Cabinets, All Newer Appliances, Counter Top, Laminate Flooring, Painted Interior and Cathedral Through Out. Huge Living Room. Dining Room off Kitchen. LED Lighting. Large Primary Master Bedroom with Newer Paint, Trim, Vinyl Plank Flooring, and Walk In Closet. Large Primary Master Bath with Newer Counter top Vanity, Sink, Faucet, Toilet, Tub and Shower, Paint, Trim and Vinyl Plank Flooring. New Main Guest Bath Room with Newer Counter Top, Toilet, Tub and Shower, Paint, Trim and Vinyl Plank Flooring. Second and Third Bedrooms have Newer Pain, Trim, and Viny

Key facts

• Laminate flooring
• Led lighting
• Newer appliances

Tags

• UPDATED KITCHEN
• AMPLE REAL WOOD CABINETS
• NEWER APPLIANCES
• LAMINATE FLOORING
• CATHEDRAL CEILINGS
• LED LIGHTING

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $185k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $550 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $185k).
• Recommended offer: $163k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.3% vs local median 2.4% in Enumclaw — 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 88/100 on livability (#12 in WA, #222 nationally) — a professional / high-income tenant draw. Strengths: crime A+, amenities A+, housing A+; Watch: cost of living D-.
• Enumclaw School District (suburban): math 54% / reading 68% proficiency, ranked #46 of 291 in WA (top 16%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+4.3%/yr); 223 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals leasing fast (median 10d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 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 $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 + 4.3% rent growth), your $52k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 129 days — a 12% lower offer ($163k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $162,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 129 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.30% ✓
• Cap rate: 10.29%
• Cash-on-cash: 14.28%
• DSCR: 1.64
• GRM: 6.4

CMA / ARV

• ARV (median comp): $150,217
• List price: $185,000
• Delta: 23.16%
• Verdict: OVERPRICED
• Comps: 15 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
209 Noble Fir Cir #60	0.04mi	3/2.0	1,344 (-8%)	3mo	$150,000	$112	82
1207 Maple Dr	0.33mi	3/2.0	1,456 (0%)	6mo	$160,000	$110	80
207 Noble Fir Cir	0.04mi	2/2.0 (-1)	1,344 (-8%)	3mo	$140,000	$104	78
252 Grand Fir Dr #25	0.02mi	3/2.0	1,352 (-7%)	12mo	$185,000	$137	77
2200 Oak Ave #49	0.07mi	2/2.0 (-1)	1,536 (+6%)	8mo	$135,000	$88	76
1144 Douglas Fir	0.16mi	3/2.0	1,344 (-8%)	11mo	$180,000	$134	71
936 Mountain Villa Dr	0.44mi	2/2.0 (-1)	1,512 (+4%)	1mo	$222,000	$147	67
400 Grand Fir Dr #94	0.13mi	4/2.0 (+1)	1,620 (+11%)	11mo	$210,000	$130	61
206 Noble Fir Cir	0.06mi	2/2.0 (-1)	1,248 (-14%)	11mo	$70,000	$56	59
1106 Mountian Villa Loop	0.39mi	2/2.0 (-1)	1,248 (-14%)	10mo	$90,000	$72	45
821 Pine Dr	0.53mi	2/2.0 (-1)	1,583 (+9%)	13mo	$125,000	$79	45
926 Pine Dr	0.47mi	2/2.0 (-1)	1,248 (-14%)	9mo	$119,500	$96	42

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 · 4.32% rent growth · sell at horizon

5-year hold

• IRR: 4.1%
• Equity multiple: 1.16×
• Total profit: $8,353
• Equity at exit: $27,584

10-year hold

• IRR: 14.9%
• Equity multiple: 2.28×
• Total profit: $66,293
• Equity at exit: $15,995

Cash invested: $51,800 (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 98022

• Rents YoY: 4.3%
• Active inventory: 223
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $2,399 high
• Mortgage (P&I): −$970
• Tax est. 1.5%: −$231 /mo · $2,775/yr
• Insurance: −$77
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$504
• Net cashflow: $550

Break-even live

Break-even rent $1,702

Max offer price $185,000

Occupancy floor 72%

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
250 Charwila Ln Enumclaw, WA	2.0	1.0	894	$1,750	$1.96	3d	1	0.31mi
312 Charwila Ln Enumclaw, WA	2.0	1.0	894	$1,750	$1.96	12d	1	0.31mi
847 Blake St Enumclaw, WA	3.0	1.0	1064	$2,000	$1.88	2d	1	0.67mi
124 Jewell St Enumclaw, WA	3.0	1.5	1540	$3,200	$2.08	44d	1	0.72mi
615 Watson St N Unit 617B Enumclaw, WA	2.0	1.0	960	$1,999	$2.08	2d	1	0.85mi
556 Bondgard Ave E Enumclaw, WA	3.0	2.0	1480	$2,995	$2.02	10d	1	1.12mi
1571 Kibler Ave Enumclaw, WA	3.0	2.0	1200	$2,600	$2.17	15d	1	1.25mi
1571 Kibler Ave Enumclaw, WA	3.0	2.0	1200	$2,600	$2.17	20d	1	1.25mi
320 Chinook Ave Enumclaw, WA	2.0–3.0	1.0–2.0	923	$2,283	$2.47	2d	7	1.37mi

Listing history 14 events

1. 2026-06-18
   days on market $185,000 Active 129 DOM
2. 2026-06-17
   days on market $185,000 Active 128 DOM
3. 2026-06-16
   days on market $185,000 Active 127 DOM
4. 2026-06-15
   days on market $185,000 Active 126 DOM
5. 2026-06-13
   days on market $185,000 Active 124 DOM
6. 2026-06-09
   days on market $185,000 Active 120 DOM
7. 2026-06-08
   days on market $185,000 Active 119 DOM
8. 2026-06-07
   days on market $185,000 Active 118 DOM
9. 2026-06-04
   days on market $185,000 Active 115 DOM
10. 2026-06-03
    days on market $185,000 Active 114 DOM
11. 2026-06-02
    days on market $185,000 Active 113 DOM
12. 2026-06-01
    days on market $185,000 Active 112 DOM
13. 2026-05-31
    days on market $185,000 Active 111 DOM
14. 2026-02-09
    listed $192,000 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 8/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥87°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 6/10 Major 10 unhealthy d/yr today · 12 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,783
• − Mortgage interest: −$10,363
• − Property taxes: −$2,775
• − Insurance: −$1,722
• − Repairs & maintenance: −$2,303
• − Management: −$2,303
• − Depreciation: −$5,382
• Taxable income: $3,936
• Est. tax owed @ 24.0%: −$945
• After-tax cash flow: $5,655/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 home is in good condition with recent updates, making it move-in ready and suitable for both resale and rental.

Value-add opportunities

• Both Paint the exterior siding — Enhances curb appeal and value
• Both Replace the ceiling fans with energy-efficient models — Improves energy efficiency and aesthetics
• Both Install smart home devices for energy management and security — Enhances convenience and value

Renovation cost estimate screening

Value-add ROI direction

• Both Paint the exterior siding — Enhances curb appeal and value ↑
• Both Replace the ceiling fans with energy-efficient models — Improves energy efficiency and aesthetics ↑
• Both Install smart home devices for energy management and security — Enhances convenience 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: Enumclaw School District
• NCES district ID: 5300001
• Math proficiency: 54% ▼ -1.00%
• Reading proficiency: 68% ▬ 0.00%
• Median HH income: $68,441
• Composite: 55.21/100
• National rank: #2736
• State rank: #46 of 291 in WA

Livability — Enumclaw

• Score: 88/100
• State rank: #12
• US rank: #222

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Enumclaw, WA
• County: King County · 2,251,916 people
• City population: 22,418
• Metro: Seattle-Tacoma-Bellevue, WA
• Population (ZIP): 22,418
• Household income: $120,406
• Rent vs Own: 18.8% rent · 81.2% own
• Severe rent burden: 382.0

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: Predominantly White (78%)
• Race & ethnicity: White 78% Hispanic / Latino 10% Two or more races 9% Asian 2% Native American 2%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Portuguese 7% Italian 4% Slovak 3%
• Foreign-born: 6% · Canada
• Languages at home: 91% English-only · Spanish 6% Other Indo-European 1% German/W. Germanic 1%

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: ▼ -605.16%
• Current HPI: 297.9161
• Rent YoY: ▲ 4.32%
• 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

1 event — show timeline

• 2026-02-09 Listed $192,000 NWMLS as Distributed by MLS Grid