31600 126th Ave SE #89 · Auburn, WA 98092

$190,000

5 bd · 2.0 ba · 1,800 sqft · Manufactured · 50 Days on market

Built 1986 Est $184k · at est.

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +5.9/15.0
• Schools +4.7/10.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0

Listing remarks

Welcome to your spacious 5 bedroom, 2 bath home in highly sought after ALL AGES College Place. Ideal floor plan features open-concept layout with a seamless flow from your living, dining and kitchen - great for entertaining and relaxing. Enjoy peace of mind with recent new roof & skylights plus brand new durable vinyl plank throughout. Beautiful kitchen with stainless steel appliances. Oversized primary with walk in closet and bath and oversized bedrooms. Energy efficient heat pump for year-round comfort. Fully fenced, low maintenance backyard for play, pets or gardening in the raised flower beds. Don’t miss the shed for storage and projects. Conveniently located just minutes fr

Key facts

• Vinyl plank
• Walk in closet
• Skylights

Tags

• OPEN-CONCEPT LAYOUT
• NEW ROOF
• SKYLIGHTS
• VINYL PLANK
• STAINLESS STEEL APPLIANCES
• WALK IN CLOSET

Property features AI

Finance

• Other: Double pane windows (energy efficient)
• Financial info: Accepts Cash, Conventional, FHA
• HOA & community: Located in a park with 227 homes; Pets allowed — see remarks; Park name: College Place; Land lease: $1,050

Exterior

• Parking: Uncovered parking
• Utilities: Electric energy source; Public water; Electric water heater
• Home design: Manufactured home (double wide); Model: Senator; One story; Has a view
• Construction: Wood construction; Composition roof; Tie-down foundation; Manufactured house structure
• Exterior features: Wood exterior products; Corner lot; Paved lot; Patio/porch/deck

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator; Stove/Range
• Bedrooms: 5 bedrooms
• Flooring: Vinyl plank
• Bathrooms: 1 full bath; 1 three-quarter bath
• Heating & cooling: Forced air heating; Heat pump cooling
• Interior features: Water heater; Skylights; Vaulted ceilings; Walk-in pantry; Drapes; Patio/porch/deck
• Laundry & utility: Washer; Dryer; Water heater located in utility room

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath manufactured listed at $190k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $190k).
• Recommended offer: $184k (3.0% below list) — sets the bar for market timing.
• Cap rate 12.9% vs local median 2.7% in Auburn — 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 81/100 on livability (#75 in WA, #1,371 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, employment A+; Watch: crime F, cost of living F.
• Auburn School District (urban): math 47% / reading 56% proficiency, ranked #125 of 291 in WA (top 43%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents soft (-0.5%/yr); 291 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 2d 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

• In year one you build about $20k of equity ($1k loan paydown + $19k appreciation (10.0% local appreciation)).
• King County population projected at +44% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 0.0% rent growth), your $53k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 50 days — a 3% lower offer ($184k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 11y 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.

Recommended offer $184,300 (3.0% below list)

Questions for the listing agent

1. It's been on market 50 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: 1.57% ✓
• Cap rate: 12.92%
• Cash-on-cash: 23.68%
• DSCR: 2.05
• GRM: 5.3

CMA / ARV

• ARV (on-the-fly): $183,600
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
31600 126th Ave SE Unit E-38	0.00mi	4/2.0 (-1)	1,890 (+5%)	1mo	$230,000	$122	86
31600 126th Ave SE #100	0.00mi	4/2.0 (-1)	1,848 (+3%)	10mo	$75,000	$41	82
31600 126th Ave SE Unit E12	0.00mi	4/2.0 (-1)	1,792 (-0%)	18mo	$180,000	$100	79
31600 126th Ave SE #47	0.00mi	4/2.0 (-1)	1,848 (+3%)	15mo	$187,000	$101	78
31600 126th Ave SE #97	0.00mi	4/2.0 (-1)	1,800 (0%)	23mo	$184,000	$102	76
31600 126th Ave SE #162	0.00mi	4/2.0 (-1)	1,848 (+3%)	19mo	$200,000	$108	74
31600 126th Ave SE Unit E16	0.00mi	4/2.0 (-1)	1,988 (+10%)	10mo	$145,000	$73	70
31600 126th Ave SE #25	0.01mi	4/2.0 (-1)	1,620 (-10%)	12mo	$239,500	$148	68

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 40.4%
• Equity multiple: 4.04×
• Total profit: $161,617
• Equity at exit: $171,167

10-year hold

• IRR: 33.7%
• Equity multiple: 8.66×
• Total profit: $407,755
• Equity at exit: $369,128

Cash invested: $53,200 (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 98092

• Home prices YoY: 3.3%
• Rents YoY: -0.5%
• Active inventory: 291
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $2,991 medium
• Mortgage (P&I): −$996
• Tax est. 1.5%: −$238 /mo · $2,850/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$628
• Net cashflow: $1,050

Break-even live

Break-even rent $1,662

Max offer price $190,000

Occupancy floor 60%

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: $47,500
• Closing costs: $5,700
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12722 SE 312th St Auburn, WA	4.0	1.0–2.0	870	$2,433	$2.79	2d	21	0.22mi
12902 SE 312th St Auburn, WA	1.0–4.0	1.0–2.0	1062	$2,578	$2.43	2d	16	0.36mi
30236 125th Ct SE Auburn, WA	4.0	2.5	2297	$3,595	$1.57	24d	1	0.74mi
29407 121st Ave SE Auburn, WA	5.0	2.5	2267	$3,400	$1.50	2d	1	1.31mi

Listing history 25 events

1. 2026-06-18
   days on market $190,000 Active 50 DOM
2. 2026-06-17
   days on market $190,000 Active 49 DOM
3. 2026-06-16
   days on market $190,000 Active 48 DOM
4. 2026-06-15
   days on market $190,000 Active 47 DOM
5. 2026-06-13
   days on market $190,000 Active 45 DOM
6. 2026-06-13
   days on market $190,000 Active 44 DOM
7. 2026-06-09
   days on market $190,000 Active 41 DOM
8. 2026-06-08
   days on market $190,000 Active 40 DOM
9. 2026-06-07
   days on market $190,000 Active 39 DOM
10. 2026-06-04
    days on market $190,000 Active 36 DOM
11. 2026-06-03
    days on market $190,000 Active 35 DOM
12. 2026-06-02
    pricedays on market $190,000 Active 34 DOM
13. 2026-06-01
    days on market $198,000 Active 33 DOM
14. 2026-05-31
    days on market $198,000 Active 32 DOM
15. 2026-05-26
    status Active
16. 2026-04-21
    listed $198,000 Active
17. 2026-01-07
    soldstatus $180,000 Closed
18. 2025-12-05
    status Pending
19. 2025-11-23
    status Active
20. 2025-11-08
    status Pending
21. 2025-09-04
    listed $190,000 Active
22. 2015-05-19
    historical
23. 2015-05-12
    soldstatus $44,000 Sold
24. 2015-04-23
    status Pending
25. 2015-02-16
    listed $45,000 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 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 · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 7/10 Severe 10 unhealthy d/yr today · 11 by 30 yrs out

Taxation est. · year 1

• Rental income: $35,890
• − Mortgage interest: −$10,643
• − Property taxes: −$2,850
• − Insurance: −$950
• − Repairs & maintenance: −$2,871
• − Management: −$2,871
• − Depreciation: −$5,527
• Taxable income: $10,178
• Est. tax owed @ 24.0%: −$2,443
• After-tax cash flow: $10,154/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: Auburn School District
• NCES district ID: 5300300
• Math proficiency: 47% ▼ -3.00%
• Reading proficiency: 56% ▼ -1.00%
• Median HH income: $58,048
• Composite: 46.73/100
• National rank: #5240
• State rank: #125 of 291 in WA

Livability — Auburn

• Score: 81/100
• State rank: #75
• US rank: #1371

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Auburn, WA
• County: King County · 2,251,916 people
• City population: 74,969
• Metro: Seattle-Tacoma-Bellevue, WA
• Population (ZIP): 50,224
• Household income: $122,300
• Rent vs Own: 25.7% rent · 74.3% own
• Severe rent burden: 1041.0

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 0.66)
• Race & ethnicity: White 54% Hispanic / Latino 15% Asian 14% Two or more races 13% Native American 4% Black 3% Pacific Islander 2%
• Hispanic origin (detail): Mexican 12%
• Common ancestry: Portuguese 4% Italian 3% Subsaharan African 3%
• Foreign-born: 20% · Canada, South Korea, Vietnam
• Languages at home: 73% English-only · Spanish 9% Russian/Polish/Slavic 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: ▲ 49.75%
• Current HPI: 1554.06
• Rent YoY: ▼ -0.46%
• 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

+340.0% since first listed

11 events — show timeline

• 2026-05-26 Relisted — NWMLS as Distributed by MLS Grid
• 2026-04-21 Listed $198,000 NWMLS as Distributed by MLS Grid
• 2026-01-07 Sold (MLS) $180,000 NWMLS as Distributed by MLS Grid
• 2025-12-05 Pending — NWMLS as Distributed by MLS Grid
• 2025-11-23 Relisted — NWMLS as Distributed by MLS Grid
• 2025-11-08 Pending — NWMLS as Distributed by MLS Grid
• 2025-09-04 Listed $190,000 NWMLS as Distributed by MLS Grid
• 2015-05-19 Delisted — NWMLS as Distributed by MLS Grid
• 2015-05-12 Sold (MLS) $44,000 NWMLS as Distributed by MLS Grid
• 2015-04-23 Pending — NWMLS as Distributed by MLS Grid
• 2015-02-16 Listed $45,000 NWMLS as Distributed by MLS Grid