22065 106th Pl SE #75 · Kent, WA 98031

$189,000

2 bd · 2.0 ba · 1,450 sqft · Manufactured · 10 Days on market

Built 1980 Good condition Est $162k · 16% 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 +26.2/30.0
• DSCR +8.8/10.0
• 1% rule +7.0/10.0
• Schools +4.8/10.0
• Livability +4.0/5.0
• Condition / age +4.0/5.0
• Rent growth +3.4/5.0
• ARV discount +0.1/15.0
• Appreciation +0.0/10.0

Listing remarks

Step into this stunning 2-bedroom, 2-bathroom home with a den, fully remodeled from the studs up and offering modern comfort in every detail. With thoughtful upgrades throughout and a serene setting backing to a greenbelt, this home delivers both style and tranquility. The interior is gorgeous, truly move-in ready. Enjoy a brand-new kitchen with all new appliances, new bathrooms, updated finishes, and a layout that feels open, bright, and welcoming. A new roof, new deck, and complete top-to-bottom renovation provide peace of mind for years to come. Outside, the home offers a quiet, private setting with greenbelt views and a brand-new deck perfect for relaxing or entertaining. The community

Key facts

• Fully remodeled
• New kitchen
• New appliances

Tags

• FULLY REMODELED
• NEW KITCHEN
• NEW APPLIANCES
• NEW BATHROOMS
• NEW ROOF
• NEW DECK

Property features AI

Finance

• Other: Land is leased
• Financial info: Listing terms include Cash, Conventional, FHA, and VA
• HOA & community: Monthly association fee (paid to park) includes water, sewer and trash; Association contact: Brad Cooke; Senior community with age restriction; Community clubhouse and trails; CCRs

Exterior

• Parking: Attached carport with 2 covered spaces
• Utilities: Electric energy source; Public water (water paid by park); Sewer connected (sewer paid by park); Power provided by PSE; Electric water heater
• Home design: Manufactured double-wide home; Single-story; Updated/Remodeled; Has a view; Built (effective) in 1980; Tie-down foundation
• Construction: Metal/vinyl construction materials; Composition roof
• Exterior features: Metal/vinyl exterior; Deck; Patio; Outbuildings; Garden space; Cable TV and high-speed internet available; Paved site

Interior

• Kitchen: Dishwasher; Refrigerator; Stove/Range
• Bedrooms: 2 bedrooms (both on main level)
• Flooring: Laminate flooring
• Bathrooms: 1 full bath; 1 half bath; 1 bathtub; 2 showers
• Heating & cooling: Forced air heating; No central cooling
• Interior features: Ceiling fans; Dining room; French doors; Vaulted ceilings; Walk-in closets; Water heater
• Laundry & utility: Water heater located in shed

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $189k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $480 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $189k).
• Cap rate 9.3% 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 rising (+3.5%/yr); 167 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 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 + 3.5% rent growth), your $53k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 20y 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 $50k; list at $189k implies a 278% gain — meaningful room to come down on a strong offer.

Recommended offer $189,000

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. 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?
3. 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.
4. 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.
5. 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: 1.20% ✓
• Cap rate: 9.34%
• Cash-on-cash: 10.89%
• DSCR: 1.48
• GRM: 7.0

CMA / ARV

• ARV (on-the-fly): $162,400
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
22065 106th Pl SE #75	0.00mi	2/2.0	1,450 (0%)	4mo	$50,000	$34	96
21908 107th Ave SE #22	0.12mi	2/2.0	1,440 (-1%)	7mo	$115,000	$80	87
21821 107th Pl SE #13	0.17mi	3/2.0 (+1)	1,440 (-1%)	3mo	$67,000	$47	84
21800 107th Pl SE #9	0.18mi	2/2.0	1,442 (-1%)	12mo	$134,000	$93	81
21916 107th Pl SE	0.15mi	3/2.0 (+1)	1,440 (-1%)	7mo	$161,200	$112	80
10706 SE 218th Pl #45	0.19mi	2/2.0	1,440 (-1%)	14mo	$135,000	$94	79
21920 107th Ave SE #2	0.12mi	3/2.0 (+1)	1,536 (+6%)	14mo	$166,000	$108	68
22603 115th Pl SE	0.62mi	3/2.0 (+1)	1,536 (+6%)	3mo	$470,000	$306	54
22627 112th Ave SE	0.54mi	3/2.0 (+1)	1,536 (+6%)	9mo	$459,000	$299	52
11029 SE 227th Pl	0.52mi	2/2.0	1,304 (-10%)	10mo	$200,000	$153	50
10921 SE 227TH Pl	0.50mi	3/2.0 (+1)	1,248 (-14%)	2mo	$155,000	$124	47
22522 113th Pl SE	0.52mi	2/2.0	1,248 (-14%)	12mo	$420,000	$337	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 · 3.53% rent growth · sell at horizon

5-year hold

• IRR: 0.6%
• Equity multiple: 1.02×
• Total profit: $1,219
• Equity at exit: $28,181

10-year hold

• IRR: 10.8%
• Equity multiple: 1.86×
• Total profit: $45,630
• Equity at exit: $16,341

Cash invested: $52,920 (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 98031

• Rents YoY: 3.5%
• Active inventory: 167
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $2,261 high
• Mortgage (P&I): −$991
• Tax est. 1.5%: −$236 /mo · $2,835/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$475
• Net cashflow: $480

Break-even live

Break-even rent $1,653

Max offer price $189,000

Occupancy floor 74%

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: $47,250
• Closing costs: $5,670
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
21822 107th Pl SE #6 Kent, WA	3.0	1.5	1152	$1,525	$1.32	22d	1	0.17mi
11500 SE 221st Pl Kent, WA	3.0	2.5	1770	$3,100	$1.75	43d	1	0.46mi
10530 SE 229th Pl Kent, WA	3.0	1.0	1000	$3,000	$3.00	43d	1	0.50mi
11211 SE 226th St Kent, WA	3.0	2.0	1012	$2,250	$2.22	18d	1	0.51mi
10820 SE 211th Pl Kent, WA	1.0–3.0	1.0–1.5	907	$2,032	$2.24	2d	20	0.71mi
11101 SE 208th St Kent, WA	1.0–3.0	1.0–2.0	971	$1,978	$2.04	2d	17	0.72mi
20803 110th Ln SE Kent, WA	2.0	2.5	1361	$2,845	$2.09	43d	1	0.82mi
20805 109th Ln SE Kent, WA	2.0	1.5	1250	$2,700	$2.16	43d	1	0.82mi
23613 112th Ave SE Apt J103 Kent, WA	2.0	2.0	882	$2,000	$2.27	12d	1	1.01mi
9915 SE 235th Pl Kent, WA	3.0	2.0	1250	$2,750	$2.20	20d	1	1.01mi
20506 103rd Ave SE Kent, WA	3.0	1.0	1180	$2,295	$1.94	24d	1	1.02mi
23721 108th Ave SE Kent, WA	2.0	1.0	1000	$1,800	$1.80	24d	1	1.03mi
22804 90th Way S Kent, WA	1.0–3.0	1.0–2.0	910	$1,794	$1.97	2d	21	1.05mi
22328 88th Ave S Kent, WA	3.0	3.0	1714	$3,695	$2.16	20d	1	1.07mi
23817 108th Ave SE Kent, WA	1.0–2.0	1.0	874	$1,815	$2.08	3d	6	1.08mi
10811 SE 239th Pl Kent, WA	1.0–3.0	1.0–2.0	917	$1,898	$2.07	2d	28	1.11mi
12012 SE 210th St Kent, WA	3.0	1.5	1230	$1,820	$1.48	24d	1	1.15mi
21627 127th Pl SE Kent, WA	3.0	2.0	1420	$3,095	$2.18	16d	1	1.32mi
1024 Central Ave N Kent, WA	1.0–3.0	1.0–2.0	755	$2,052	$2.72	2d	55	1.49mi

Listing history 8 events

1. 2026-06-18
   days on market $189,000 Active 10 DOM
2. 2026-06-17
   days on market $189,000 Active 9 DOM
3. 2026-06-16
   days on market $189,000 Active 8 DOM
4. 2026-06-15
   days on market $189,000 Active 7 DOM
5. 2026-06-13
   days on market $189,000 Active 5 DOM
6. 2026-06-09
   days on marketlisting id $189,000 Active 1 DOM
7. 2026-06-07
   remarks 699-char remark
8. 2026-06-07
   listed $189,000 Active 2 DOM

ⓘ 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 ≥87°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: $27,138
• − Mortgage interest: −$10,587
• − Property taxes: −$2,835
• − Insurance: −$945
• − Repairs & maintenance: −$2,171
• − Management: −$2,171
• − Depreciation: −$5,498
• Taxable income: $2,931
• Est. tax owed @ 24.0%: −$703
• After-tax cash flow: $5,062/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 move-in ready, fully renovated home offers modern comfort and a serene setting with a new roof, deck, and appliances.

Value-add opportunities

• Both landscaping — enhances curb appeal and adds value
• Both furniture — improves the home's livability and appeal

Renovation cost estimate screening

Value-add ROI direction

• Both landscaping — enhances curb appeal and adds value ↑
• Both furniture — improves the home's livability and appeal ↑

ⓘ 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): 40,094
• Household income: $105,965
• Rent vs Own: 32.8% rent · 67.2% own
• Severe rent burden: 1151.0

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 0.77)
• Race & ethnicity: White 36% Asian 27% Black 13% Hispanic / Latino 13% Two or more races 13% Pacific Islander 1%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Italian 5% Portuguese 2% Subsaharan African 2%
• Foreign-born: 31% · Canada, Vietnam, China
• Languages at home: 58% English-only · Spanish 9% Other Indo-European 7% Vietnamese 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: ▼ -673.58%
• Current HPI: 308.1747
• Rent YoY: ▲ 3.53%
• 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

+330.0% since first listed

7 events — show timeline

• 2026-05-29 Listed $189,000 NWMLS as Distributed by MLS Grid
• 2026-02-11 Sold (MLS) $50,000 NWMLS as Distributed by MLS Grid
• 2026-01-29 Pending — NWMLS as Distributed by MLS Grid
• 2026-01-12 Price Changed $99,950 NWMLS as Distributed by MLS Grid
• 2025-12-29 Listed $110,000 NWMLS as Distributed by MLS Grid
• 2006-05-12 Sold (MLS) $44,000 NWMLS as Distributed by MLS Grid
• 2006-04-06 Listed $43,950 NWMLS as Distributed by MLS Grid