9500 315th Ave SE #15 · Snoqualmie, WA 98027

$214,950

2 bd · 2.0 ba · 1,020 sqft · Manufactured · 35 Days on market

Built 1977 Good condition 10,000 sqft lot ↓ 4% since listing

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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 +24.3/30.0
• DSCR +7.8/10.0
• ARV discount +7.5/15.0
• Schools +7.3/10.0
• 1% rule +6.3/10.0
• Livability +4.5/5.0
• Condition / age +4.0/5.0
• Rent growth +2.9/5.0
• Appreciation +0.0/10.0

Listing remarks

* * Financing available * * Welcome to peaceful living in a desirable 55+ community with privacy on a shy 1/4 acre space. Enjoy territorial views toward Tiger Mountain and a serene setting just moments from Raging River. This well-maintained home showcases pride of ownership with fresh interior and exterior paint, new oversized Milgard Low-E windows and doors, and upgraded low-voltage LED lighting throughout. Spacious layout offers comfortable living with wide, accessible bathrooms designed for ease of mobility. Bright kitchen with ample cabinetry flows into open living spaces and large windows bringing in natural light and surrounding greenery. Step outside to a beautifully landscaped

Key facts

• Easy access entry
• Landscaped yard
• Artist studio

Tags

• TERRITORIAL VIEWS
• MATURE TREES
• ARTIST STUDIO
• EASY ACCESS ENTRY
• LANDSCAPED YARD

Property features AI

Finance

• Other: Calculated building area: 1020; Lot dimensions: 100 x 100; Lot size: 0.2296 acres; Elevation units in feet
• Financial info: Land lease: $1,100; Listing terms include Cash, Conventional, FHA
• HOA & community: Park approved for sale; Senior community; Pets: cats allowed (see remarks); 41 homes in the park; Alpine Mobile Manor

Exterior

• Parking: RV parking available in the park
• Utilities: Electric energy source; Electric water heater; Water from community/shared well; Septic sewer; Xfinity cable; Xfinity internet
• Home design: Manufactured home (double wide); One level; Pillar/post/pier foundation; Mobile home remains on lot; Has view; Make: GUER, Model: 66/14; Skirted with metal
• Construction: Metal/vinyl construction materials; Torch down roof; Manufactured after 6/15/1976
• Exterior features: Metal/vinyl exterior; Secluded lot; Community waterfront (park amenity); Clubhouse (park amenity); RV parking (park amenity)

Interior

• Kitchen: Kitchen with eating space; Dishwasher; Microwave; Stove/Range; Refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Laminate
• Bathrooms: 1 full bath; 1 three-quarter bath
• Heating & cooling: Forced air heating
• Interior features: Water heater; Bath off primary; Drapes; Landscaped; Double pane windows
• Laundry & utility: Washer; Dryer; Utility room

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $215k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $366 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $215k).
• Recommended offer: $209k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.7% vs local median 1.4% in Snoqualmie — 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 89/100 on livability (#9 in WA, #156 nationally) — a professional / high-income tenant draw. Strengths: crime A+, amenities A+, employment A+; Watch: cost of living F.
• Issaquah School District (suburban): math 77% / reading 81% proficiency, ranked #4 of 291 in WA (top 1%) — strong family-tenant draw, lease renewals of 3-5y typical; only 7% free/reduced lunch — higher-income household profile.
• Zoned schools: Issaquah Valley Elementary (602 students, 23% FRL); Issaquah High School (2,412 students, 14% FRL).
• Market conditions: Rents rising (+1.4%/yr); 227 active listings in the ZIP; 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.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($209k) 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 $208,501 (3.0% below list)

Questions for the listing agent

1. It's been on market 35 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.13% ✓
• Cap rate: 8.71%
• Cash-on-cash: 8.62%
• DSCR: 1.38
• GRM: 7.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.4% rent growth · sell at horizon

5-year hold

• IRR: -7.0%
• Equity multiple: 0.75×
• Total profit: $-15,310
• Equity at exit: $32,050

10-year hold

• IRR: 0.4%
• Equity multiple: 1.03×
• Total profit: $1,688
• Equity at exit: $18,585

Cash invested: $60,186 (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 98027

• Rents YoY: 1.4%
• Active inventory: 227
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $2,427 medium
• Mortgage (P&I): −$1,127
• Tax est. 1.5%: −$269 /mo · $3,224/yr
• Insurance: −$90
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$510
• Net cashflow: $366

Break-even live

Break-even rent $1,964

Max offer price $214,950

Occupancy floor 80%

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: $53,738
• Closing costs: $6,448
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-06-13
   statusdays on market $214,950 Pending 35 DOM
2. 2026-06-09
   days on market $214,950 Active 34 DOM
3. 2026-06-08
   days on market $214,950 Active 33 DOM
4. 2026-06-07
   days on market $214,950 Active 32 DOM
5. 2026-06-04
   days on market $214,950 Active 29 DOM
6. 2026-06-03
   days on market $214,950 Active 28 DOM
7. 2026-06-02
   days on market $214,950 Active 27 DOM
8. 2026-06-01
   days on market $214,950 Active 26 DOM
9. 2026-05-31
   days on market $214,950 Active 25 DOM
10. 2026-05-17
    price $214,950
11. 2026-05-06
    listed $225,000 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 9/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 2/10 Low 8 d/yr ≥84°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 8/10 Severe 12 unhealthy d/yr today · 16 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,128
• − Mortgage interest: −$12,041
• − Property taxes: −$3,224
• − Insurance: −$1,872
• − Repairs & maintenance: −$2,330
• − Management: −$2,330
• − Depreciation: −$6,253
• Taxable income: $1,078
• Est. tax owed @ 24.0%: −$259
• After-tax cash flow: $4,130/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 · 30 photos

Good 80/100 Cosmetic rehab

This well-maintained manufactured home in a desirable community offers a good investment opportunity with minimal repairs and updates needed.

Value-add opportunities

• Resale Paint exterior siding — Fresh paint can enhance curb appeal and property value.
• Rental Upgrade HVAC system — A reliable HVAC system is essential for tenant satisfaction and can increase rental value.

Renovation cost estimate screening

Value-add ROI direction

• Resale Paint exterior siding — Fresh paint can enhance curb appeal and property value. ↑
• Rental Upgrade HVAC system — A reliable HVAC system is essential for tenant satisfaction and can increase rental 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: Issaquah School District
• NCES district ID: 5303750
• Math proficiency: 77% ▼ -1.00%
• Reading proficiency: 81% ▲ 1.00%
• Median HH income: $109,747
• Composite: 73.35/100
• National rank: #339
• State rank: #4 of 291 in WA

Livability — Snoqualmie

• Score: 89/100
• State rank: #9
• US rank: #156

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: King County · 2,251,916 people
• City population: 15,944
• Metro: Seattle-Tacoma-Bellevue, WA
• Population (ZIP): 28,955
• Household income: $153,301
• Rent vs Own: 32.4% rent · 67.6% own
• Severe rent burden: 737.0

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 (69%)
• Race & ethnicity: White 69% Asian 16% Two or more races 9% Hispanic / Latino 7% Black 1%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Italian 5% Portuguese 5% Slovak 3%
• Foreign-born: 18% · China, Canada, South Korea
• Languages at home: 81% English-only · Chinese 5% Spanish 4% Other Indo-European 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: ▼ -862.37%
• Current HPI: 370.0484
• Rent YoY: ▲ 1.40%
• 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

-4.5% since first listed

3 events — show timeline

• 2026-06-11 Pending — NWMLS as Distributed by MLS Grid
• 2026-05-17 Price Changed $214,950 NWMLS as Distributed by MLS Grid
• 2026-05-06 Listed $225,000 NWMLS as Distributed by MLS Grid