18425 NE 95th St #221 · Redmond, WA 98052

$184,950

2 bd · 2.0 ba · 1,248 sqft · Manufactured · 7 Days on market

Built 1974 Est $182k · at est.

---

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
• DSCR +10.0/10.0
• 1% rule +9.9/10.0
• Schools +7.5/10.0
• ARV discount +6.8/15.0
• Livability +4.4/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Imagine being able to enjoy this summer in this lovely air conditioned 2 bedroom mobile home in Friendly Village Mobile Home Park (for people 55 years old or older). This terrific home is in move-in condition. Whether it'll be a convenience or a necessity, the ramp will be greatly appreciated. Built in 1974, the home has 1248 square feet and a large, mostly level backyard. The primary bedroom has a walk-in closet and a primary bathroom with a spacious shower. Comfortable warmth in the winter will be provided by the pellet stove and electric furnace. The double pane windows and floors are only a few years old. Friendly Village is a wonderful place to live. There's a clubhouse with a large me

Key facts

• Walk-in closet
• Exercise room
• Double pane windows

Tags

• AIR CONDITIONED
• WALK-IN CLOSET
• PELLET STOVE
• DOUBLE PANE WINDOWS
• HEATED SWIMMING POOL
• EXERCISE ROOM

Property features AI

Finance

• Other: Bus line nearby; Approximately 224 homes in the park
• Financial info: Land lease required ($860); Listing terms: Cash
• HOA & community: Located in Friendly Village manufactured home park; Park amenities include clubhouse, common area, community waterfront, exercise room, laundry, pool, recreational area, RV parking, and trails; Park approved for sale; Senior community

Exterior

• Parking: Carport
• Utilities: Public water; City sewer; Electric service (PSE)
• Home design: Manufactured double-wide home (Brookwood Rex); One level; Skirted with metal
• Construction: Metal/vinyl construction materials; Metal roof
• Exterior features: Metal/vinyl exterior; Metal shed in backyard; Patio/porch/deck; Located on a cul-de-sac; Paved access

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator; Stove/Range
• Bedrooms: 2 bedrooms
• Flooring: Vinyl; Carpet
• Bathrooms: 1 full bath; 1 three-quarter bath; 1 bathtub; 1 shower
• Heating & cooling: Forced air heating; Forced air cooling
• Interior features: Water heater (electric) located in outside closet; Pellet stove
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $185k.

Deal economics

• At list price, monthly cash flow is $902 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $185k).
• Cap rate 12.1% vs local median 1.4% in Redmond — 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 (#10 in WA, #186 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, employment A+; Watch: cost of living F.
• Lake Washington School District (suburban): math 79% / reading 85% proficiency, ranked #3 of 291 in WA (top 1%) — strong family-tenant draw, lease renewals of 3-5y typical; only 10% free/reduced lunch — higher-income household profile.
• Zoned schools: Emily Dickinson Elementary (305 students, 11% FRL); Evergreen Middle School (771 students, 10% FRL); Redmond High School (2,218 students, 15% FRL) — zoned schools at 12% FRL track the district average.
• Market conditions: Rents flat; 337 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 7d 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 + 0.7% rent growth), your $52k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 21y 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 $130k; 42% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $184,950

Questions for the listing agent

1. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are A-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?
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: 1.49% ✓
• Cap rate: 12.14%
• Cash-on-cash: 20.89%
• DSCR: 1.93
• GRM: 5.6

CMA / ARV

• ARV (on-the-fly): $182,208
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
18425 NE 95th St #76	0.07mi	3/2.0 (+1)	1,248 (0%)	1mo	$175,000	$140	91
18425 NE 95th St #183	0.04mi	3/2.0 (+1)	1,248 (0%)	12mo	$172,450	$138	83
18425 NE 95th St #43	0.10mi	3/2.0 (+1)	1,334 (+7%)	9mo	$257,000	$193	72
18425 NE 95th St #148	0.10mi	3/2.0 (+1)	1,344 (+8%)	11mo	$265,000	$197	69
18425 NE 95th St #85	0.10mi	2/2.0	1,104 (-12%)	10mo	$155,000	$140	68
18425 NE 95th St #108	0.09mi	3/2.0 (+1)	1,344 (+8%)	19mo	$196,500	$146	62

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 · 0.65% rent growth · sell at horizon

5-year hold

• IRR: 10.6%
• Equity multiple: 1.41×
• Total profit: $21,124
• Equity at exit: $27,577

10-year hold

• IRR: 17.7%
• Equity multiple: 2.30×
• Total profit: $67,555
• Equity at exit: $15,991

Cash invested: $51,786 (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 98052

• Rents YoY: 0.7%
• Active inventory: 337
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $2,759 high
• Mortgage (P&I): −$970
• Tax est. 1.5%: −$231 /mo · $2,774/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$579
• Net cashflow: $902

Break-even live

Break-even rent $1,618

Max offer price $184,950

Occupancy floor 62%

Sensitivity live

Price	-10% $1,029	-5% $966	+0% $902	+5% $838	+10% $774
Rent	-10% $684	-5% $793	+0% $902	+5% $1,011	+10% $1,120
Rate	-1.0pp $995	-0.5pp $949	base $902	+0.5pp $854	+1.0pp $805

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: $46,238
• Closing costs: $5,548
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9056 Avondale Rd NE Redmond, WA	3.0	1.0	1500	$3,400	$2.27	6d	1	0.23mi
9981 Avondale Rd NE Redmond, WA	2.0	2.5	1280	$2,900	$2.27	45d	1	0.26mi
9009 Avondale Rd NE Unit K122 Redmond, WA	2.0	2.0	958	$2,800	$2.92	26d	1	0.39mi
9009 Avondale Rd NE Redmond, WA	2.0	2.0	1026	$2,672	$2.60	45d	2	0.43mi
17771 NE 90th St Redmond, WA	1.0–3.0	1.0–2.0	1062	$2,965	$2.79	0d	13	0.52mi
8653 Avondale Rd NE Unit B204 Redmond, WA	3.0	2.0	1164	$3,150	$2.71	45d	1	0.59mi
17202 NE 85th Pl Redmond, WA	2.0	1.0–2.0	891	$2,457	$2.76	0d	4	0.73mi
17634 NE Union Hill Rd Redmond, WA	1.0–2.0	1.0–2.0	822	$2,987	$3.63	0d	5	0.80mi
10909 Avondale Rd NE Unit P161 Redmond, WA	3.0	2.5	1487	$3,600	$2.42	19d	1	0.87mi
8222 169th Ave NE Unit C4 Redmond, WA	2.0	1.0	831	$2,195	$2.64	26d	1	1.10mi
8020 169th Ave NE Unit 12 Redmond, WA	2.0	1.0	750	$1,999	$2.67	26d	1	1.16mi
8020 169th Ave NE Apt 2 Redmond, WA	2.0	1.0	750	$1,999	$2.67	0d	1	1.16mi
11305 183rd Pl NE Redmond, WA	3.0	1.0–3.0	1211	$3,495	$2.89	0d	1	1.17mi
16910 NE 80th St Redmond, WA	2.0	1.0	825	$1,995	$2.42	21d	1	1.18mi
16518 NE 91st St Redmond, WA	1.0–2.0	1.0	900	$2,725	$3.03	6d	8	1.22mi
8851 166th Ave NE Unit A101 Redmond, WA	1.0	1.0	772	$1,995	$2.58	23d	1	1.22mi
7805 170th Pl NE Redmond, WA	1.0	1.0	725	$2,388	$3.29	0d	2	1.22mi
16405 NE 95th St Redmond, WA	1.0–2.0	1.0–1.5	940	$2,400	$2.55	45d	4	1.24mi
8839 166th Ave NE Unit C101 Redmond, WA	1.0	1.0	772	$2,000	$2.59	12d	1	1.24mi
8845 166th Ave NE Unit B104 Redmond, WA	1.0	1.0	772	$2,400	$3.11	0d	1	1.24mi
8700 164th Ave NE Redmond, WA	1.0	1.0	865	$2,861	$3.31	45d	1	1.31mi
8704 164th Ave NE Redmond, WA	2.0	1.0	950	$1,135	$1.19	45d	1	1.32mi
16590 NE 83rd St Redmond, WA	2.0	1.0–2.0	769	$3,295	$4.28	11d	3	1.32mi
9200 Redmond Woodinville Rd NE Redmond, WA	1.0	1.0	750	$2,128	$2.84	0d	2	1.33mi
8920 Redmond Woodinville Rd NE Unit 8946 Redmond, WA	1.0	1.0	756	$1,695	$2.24	6d	1	1.35mi
8920 Redmond Woodinville Rd NE Unit 8952 Redmond, WA	2.0	1.0	875	$1,885	$2.15	6d	1	1.35mi
10509 165th Pl NE Unit 1545767P Redmond, WA	2.0	2.0	990	$6,032	$6.09	16d	1	1.35mi
7705 168th Ave NE Redmond, WA	1.0	1.0	731	$2,794	$3.82	4d	4	1.35mi
17620 NE 69th Ct Redmond, WA	1.0–3.0	1.0–2.0	994	$3,474	$3.49	0d	21	1.36mi
9398 Redmond Woodinville Rd NE #126 Redmond, WA	1.0	1.0	750	$1,962	$2.62	45d	1	1.36mi
9110 Woodinville Redmond Rd NE Unit PM-UF-RED9110_302 Redmond, WA	2.0	1.0	925	$2,375	$2.57	6d	1	1.36mi
9200 Woodinville Redmond Rd NE Unit D 326 Redmond, WA	2.0	2.5	1330	$2,995	$2.25	45d	1	1.37mi
16771 Redmond Way Redmond, WA	3.0	1.0–2.0	928	$3,983	$4.29	0d	266	1.39mi
8280 164th Ave NE Redmond, WA	2.0	1.0–2.0	828	$3,494	$4.22	0d	9	1.40mi
16550 NE 79th St Redmond, WA	1.0–2.0	1.0–2.0	818	$3,383	$4.13	4d	3	1.40mi
16595 Redmond Way Redmond, WA	1.0–2.0	1.0–2.0	830	$4,487	$5.40	0d	27	1.43mi
16255 NE 87th St Redmond, WA	3.0	1.0–2.0	776	$2,285	$2.95	0d	7	1.43mi
9484 Redmond Woodinville Rd NE Unit C204 Redmond, WA	2.0	1.0	800	$2,295	$2.87	45d	1	1.43mi
16275 NE 85th St #313 Redmond, WA	2.0	2.0	983	$3,095	$3.15	23d	1	1.44mi
9474 Redmond Woodinville Rd NE Redmond, WA	2.0	1.0	844	$2,400	$2.84	0d	1	1.44mi

Listing history 5 events

1. 2026-06-13
   statusdays on market $184,950 Pending 7 DOM
2. 2026-06-09
   days on market $184,950 Active 4 DOM
3. 2026-06-08
   days on market $184,950 Active 3 DOM
4. 2026-06-07
   remarks 699-char remark
5. 2026-06-07
   listed $184,950 Active 2 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $33,111
• − Mortgage interest: −$10,360
• − Property taxes: −$2,774
• − Insurance: −$925
• − Repairs & maintenance: −$2,649
• − Management: −$2,649
• − Depreciation: −$5,380
• Taxable income: $8,374
• Est. tax owed @ 24.0%: −$2,010
• After-tax cash flow: $8,810/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: Lake Washington School District
• NCES district ID: 5304230
• Math proficiency: 79% ▬ 0.00%
• Reading proficiency: 85% ▲ 1.00%
• Median HH income: $103,849
• Composite: 75.15/100
• National rank: #251
• State rank: #3 of 291 in WA

Livability — Redmond

• Score: 88/100
• State rank: #10
• US rank: #186

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Redmond, WA
• County: King County · 2,251,916 people
• City population: 103,482
• Metro: Seattle-Tacoma-Bellevue, WA
• Population (ZIP): 80,717
• Household income: $163,460
• Rent vs Own: 55.2% rent · 44.8% own
• Severe rent burden: 3044.0

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 0.62)
• Race & ethnicity: White 47% Asian 38% Two or more races 7% Hispanic / Latino 7% Black 2%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Portuguese 2% Italian 2% Scotch-Irish 2%
• Foreign-born: 44% · China, Canada, South Korea
• Languages at home: 53% English-only · Other Asian/Pacific 11% Chinese 10% Other Indo-European 10%

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: ▼ -1157.66%
• Current HPI: 434.1949
• Rent YoY: ▲ 0.65%
• 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

+827.1% since first listed

23 events — show timeline

• 2026-06-05 Listed $184,950 NWMLS as Distributed by MLS Grid
• 2022-11-04 Sold (MLS) $130,000 NWMLS as Distributed by MLS Grid
• 2022-10-06 Pending — NWMLS as Distributed by MLS Grid
• 2022-08-23 Listed $138,500 NWMLS as Distributed by MLS Grid
• 2020-01-24 Sold (MLS) $57,500 NWMLS as Distributed by MLS Grid
• 2020-01-08 Pending — NWMLS as Distributed by MLS Grid
• 2020-01-07 Pending — NWMLS as Distributed by MLS Grid
• 2020-01-06 Relisted — NWMLS as Distributed by MLS Grid
• 2020-01-01 Delisted — NWMLS as Distributed by MLS Grid
• 2019-11-18 Price Changed $60,000 NWMLS as Distributed by MLS Grid
• 2019-11-07 Price Changed $65,000 NWMLS as Distributed by MLS Grid
• 2019-10-26 Price Changed $75,000 NWMLS as Distributed by MLS Grid
• 2019-09-23 Price Changed $80,000 NWMLS as Distributed by MLS Grid
• 2019-08-08 Price Changed $85,000 NWMLS as Distributed by MLS Grid
• 2019-08-02 Price Changed $90,000 NWMLS as Distributed by MLS Grid
• 2019-07-22 Price Changed $95,000 NWMLS as Distributed by MLS Grid
• 2019-07-15 Price Changed $100,000 NWMLS as Distributed by MLS Grid
• 2019-07-10 Price Changed $105,000 NWMLS as Distributed by MLS Grid
• 2019-07-02 Price Changed $110,000 NWMLS as Distributed by MLS Grid
• 2019-06-24 Price Changed $115,000 NWMLS as Distributed by MLS Grid
• 2019-06-12 Listed $125,000 NWMLS as Distributed by MLS Grid
• 2005-08-11 Sold (MLS) $19,950 NWMLS as Distributed by MLS Grid
• 2005-07-06 Listed $19,950 NWMLS as Distributed by MLS Grid