827 West Valley Hwy #46 · Kent, WA 98032

$233,995

4 bd · 2.0 ba · 1,650 sqft · Manufactured · 60 Days on market

Built 1998 Good condition $142/sqft · 87% above area ↓ 3% since listing

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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 +27.2/30.0
• DSCR +9.4/10.0
• ARV discount +7.5/15.0
• 1% rule +7.4/10.0
• Schools +4.8/10.0
• Livability +4.0/5.0
• Condition / age +4.0/5.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Listing remarks

This 4 BDRM 1.75 BATH is beautifully remodeled living masterpiece that sports many upgrades & features into this home: like newly designed & installed quartz countertops with a large stainless steel sink, new appliances, including new refrigerator, new stove, new DW, new W & D, large great room, newly built backyard party deck, very spacious kitchen, newly painted interior with newly installed base board outlining the newly installed laminate flooring t/o, with newly painted exterior siding, newly installed interior fixtures in both bathrooms, light fixtures etc, newly installed Hot H20 heater for years of use & enjoyment, newly installed exterior steps with newly inst

Key facts

• Quartz countertops
• Backyard party deck
• Stainless steel sink

Tags

• QUARTZ COUNTERTOPS
• STAINLESS STEEL SINK
• NEW APPLIANCES
• BACKYARD PARTY DECK
• SPACIOUS KITCHEN
• NEWLY PAINTED EXTERIOR SIDING

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath manufactured listed at $234k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $669 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $234k).
• Recommended offer: $227k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.7% 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: schools C-, 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.
• Market conditions: Rents soft (-0.7%/yr); 124 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals leasing fast (median 4d 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).
• This rent runs 42% of the median local income ($83k/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 $2k of loan paydown is wiped out by about $7k 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.

Negotiation context

• It's been on market 60 days — a 3% lower offer ($227k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $226,975 (3.0% below list)

Questions for the listing agent

1. It's been on market 60 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: 1.24% ✓
• Cap rate: 9.72%
• Cash-on-cash: 12.25%
• DSCR: 1.54
• GRM: 6.7

CMA / ARV

• ARV (median comp): $125,007
• List price: $233,995
• Delta: 87.19%
• Verdict: OVERPRICED
• Comps: 3 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
24415 64th Ave S #16	0.50mi	3/2.0 (-1)	1,440 (-13%)	10mo	$135,000	$94	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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -1.6%
• Equity multiple: 0.94×
• Total profit: $-3,771
• Equity at exit: $34,889

10-year hold

• IRR: 4.6%
• Equity multiple: 1.29×
• Total profit: $18,957
• Equity at exit: $20,232

Cash invested: $65,519 (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 98032

• Rents YoY: -0.7%
• Active inventory: 124
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $2,893 high
• Mortgage (P&I): −$1,227
• Tax est. 1.5%: −$292 /mo · $3,510/yr
• Insurance: −$97
• HOA: −$0
• Vacancy / Maint / Mgmt: −$608
• Net cashflow: $669

Break-even live

Break-even rent $2,047

Max offer price $233,995

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: $58,499
• Closing costs: $7,020
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6305 S 238th Pl Kent, WA	1.0–3.0	1.0–2.0	816	$2,662	$3.26	2d	23	0.29mi
23605 62nd Ave S Kent, WA	1.0–3.0	1.0–2.0	833	$2,793	$3.35	2d	11	0.33mi
6248 S 242nd Pl Kent, WA	1.0–3.0	1.0–2.0	849	$2,349	$2.77	2d	20	0.38mi
23529 60th Ave S Kent, WA	1.0–3.0	1.0–2.0	1016	$2,856	$2.81	3d	16	0.45mi
507 W Concord St Unit 507 Kent, WA	4.0	2.5	2090	$4,500	$2.15	44d	1	0.64mi
25102 62nd Ave S Kent, WA	1.0–3.0	1.0–2.5	1000	$2,785	$2.79	2d	23	0.76mi
412 E Novak Ln Kent, WA	1.0–3.0	1.0–2.0	879	$1,869	$2.13	13d	1	0.97mi
23116 51st Ave S Kent, WA	3.0	2.5	1624	$3,300	$2.03	17d	1	0.97mi
401 3rd Ave S Unit Lower Kent, WA	3.0	2.0	2000	$2,780	$1.39	44d	1	1.00mi
622 6th Ave S Kent, WA	3.0	2.0	1114	$2,999	$2.69	44d	1	1.05mi
2200 W Meeker St Kent, WA	3.0	1.0–2.0	837	$3,165	$3.78	2d	18	1.08mi
1020 Central Ave N Kent, WA	1.0–3.0	1.0–2.0	1035	$2,950	$2.85	2d	20	1.08mi
702 5th Ave S Kent, WA	2.0–3.0	1.5	1150	$2,400	$2.09	5d	3	1.14mi
713 3rd Ave S Kent, WA	3.0	2.5	1350	$2,795	$2.07	44d	1	1.19mi
24849 46th Ave S Kent, WA	1.0–3.0	1.0–2.0	887	$2,499	$2.82	2d	9	1.41mi

Listing history 4 events

1. 2026-06-19
   status $233,995 Active 60 DOM
2. 2026-05-12
   status Pending
3. 2026-04-08
   price $233,995
4. 2026-03-13
   listed $239,995 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 5/10 Major FEMA zone X (unshaded) · 27% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥88°F today · 14 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: $34,719
• − Mortgage interest: −$13,107
• − Property taxes: −$3,510
• − Insurance: −$1,170
• − Repairs & maintenance: −$2,778
• − Management: −$2,778
• − Depreciation: −$6,807
• Taxable income: $4,569
• Est. tax owed @ 24.0%: −$1,097
• After-tax cash flow: $6,926/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 beautifully remodeled 4-bedroom, 2-bathroom home features new quartz countertops, stainless steel sink, and appliances, making it move-in ready with a good condition score.

Value-add opportunities

• Both landscaping — enhances curb appeal and adds value
• Both exterior lighting — improves safety and enhances curb appeal
• Both smart home integration — increases home's marketability and convenience

Renovation cost estimate screening

Value-add ROI direction

• Both landscaping — enhances curb appeal and adds value ↑
• Both exterior lighting — improves safety and enhances curb appeal ↑
• Both smart home integration — increases home's marketability and convenience ↑

ⓘ 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: 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

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 · 2,251,916 people
• City population: 119,479
• Metro: Seattle-Tacoma-Bellevue, WA
• Population (ZIP): 40,862
• Household income: $82,636
• Rent vs Own: 57.3% rent · 42.7% own
• Severe rent burden: 2581.0

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 0.79)
• Race & ethnicity: White 32% Hispanic / Latino 24% Asian 17% Black 16% Two or more races 12% Pacific Islander 4%
• Hispanic origin (detail): Mexican 18%
• Common ancestry: Portuguese 4% Italian 4% Lithuanian 2%
• Foreign-born: 33% · Canada, Vietnam, China
• Languages at home: 57% English-only · Spanish 19% Other Indo-European 6% Other Asian/Pacific 4%

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: ▼ -527.12%
• Current HPI: 299.2499
• Rent YoY: ▼ -0.68%
• 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

-2.5% since first listed

3 events — show timeline

• 2026-05-12 Pending — NWMLS as Distributed by MLS Grid
• 2026-04-08 Price Changed $233,995 NWMLS as Distributed by MLS Grid
• 2026-03-13 Listed $239,995 NWMLS as Distributed by MLS Grid