4248 A St SE #662 · Auburn, WA 98002

$200,000

4 bd · 2.0 ba · 1,568 sqft · Manufactured · 10 Days on market

Built 1980 Est $190k · 5% over

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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
• ARV discount +5.1/15.0
• Schools +4.7/10.0
• Livability +4.0/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

* IDEAL LOCATION on LARGER LOT BACKING to RIVER * Beautifully remodeled single level home featuring modern upgrades throughout. Ideal floor plan offers 4 bedrooms PLUS den/or 5th bedroom/bonus room! OPEN CONCEPT kitchen is equipped with newer cabinets, SS appliances, gleaming countertops, and fixtures PLUS MINI SPLIT for optimal heating & COOLING! Lovingly maintained with newer exterior paint, water heater (2021), Roof (2023) and newer deck. Large Primary Suite with double closets and private ensuite bathroom with dual sinks (toilets recently replaced). Utility room offers extra storage with walk-in pantry and shelving PLUS washer & dryer. This home is IDEALLY situated next to

Key facts

• Open concept kitchen
• Newer cabinets
• Newer countertops

Tags

• LARGER LOT
• BACKING TO RIVER
• MODERN UPGRADES
• OPEN CONCEPT KITCHEN
• NEWER CABINETS
• NEWER COUNTERTOPS

Property features AI

Finance

• Financial info: Land lease amount: $1,232; Acceptable financing: Cash, Conventional, FHA
• HOA & community: Located in White River mobile home park; Park amenities include clubhouse, common area, playground and recreational area; Park approved for sale; Approximately 204 homes in the park; Pets allowed — see remarks; Land lease

Exterior

• Parking: Uncovered parking; 2 open parking spaces
• Utilities: Public water (Park HOA); Sewer provided by Park HOA; Electric service (PSE); Internet available (Xfinity); Electric energy source
• Home design: Manufactured double-wide home (Fleetwood model 56/28); One story; Tie down foundation; Faces southwest; Mobile home remains
• Construction: Wood construction; Wood skirt
• Exterior features: Wood exterior products; Patio/porch/deck; Shed for storage; Backyard storage; Paved lot with sidewalk; On waterfront; Has a view

Interior

• Kitchen: Dishwasher; Garbage disposal; Microwave; Refrigerator; Stove/Range
• Bedrooms: 4 bedrooms
• Flooring: Ceramic tile; Vinyl plank
• Bathrooms: 1 full bath; 1 three-quarter bath; 1 bathtub; 2 showers; Primary bedroom with bath access
• Heating & cooling: Ductless heating/cooling; Forced air heating; Has heating and cooling
• Interior features: Den/office and family room; Kitchen with eating space; Updated/remodeled condition; Double pane windows; Drapes
• Laundry & utility: Washer; Dryer; Utility room

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath manufactured listed at $200k.

Deal economics

• At list price, monthly cash flow is $982 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $200k).
• Cap rate 12.2% 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 rising (+1.5%/yr); 176 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals leasing fast (median 0d 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).
• At $2,993/mo this rent would consume 46% of the median local household income ($79k/yr) (locally 2202% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

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 + 1.5% rent growth), your $56k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 2y 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 $200,000

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: 1.50% ✓
• Cap rate: 12.19%
• Cash-on-cash: 21.05%
• DSCR: 1.94
• GRM: 5.6

CMA / ARV

• ARV (on-the-fly): $189,728
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4248 A St SE #513	0.00mi	4/2.0	1,620 (+3%)	14mo	$189,950	$117	82
4248 A St SE #662	0.00mi	4/2.0	1,568 (0%)	23mo	$190,000	$121	81
4248 A St SE #421	0.00mi	3/2.0 (-1)	1,512 (-4%)	15mo	$165,000	$109	76
4248 A St SE #133	0.00mi	3/2.0 (-1)	1,584 (+1%)	22mo	$142,000	$90	75
4248 A St SE #423	0.04mi	3/2.0 (-1)	1,446 (-8%)	10mo	$179,950	$124	72
707 37th St SE #17	0.47mi	3/2.0 (-1)	1,500 (-4%)	4mo	$147,500	$98	62
4248 A St SE #228	0.00mi	3/2.0 (-1)	1,344 (-14%)	11mo	$175,000	$130	62
707 37th St SE #71	0.47mi	4/2.0	1,440 (-8%)	6mo	$160,000	$111	60
4248 A St SE #518	0.10mi	3/2.0 (-1)	1,344 (-14%)	9mo	$145,000	$108	59
206 Birch Ln	0.57mi	3/2.0 (-1)	1,524 (-3%)	13mo	$520,000	$341	53
707 37th St SE #36	0.47mi	3/2.0 (-1)	1,404 (-10%)	9mo	$215,000	$153	48
111 Aspen Ln S	0.51mi	3/2.0 (-1)	1,782 (+14%)	11mo	$460,000	$258	40

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 · 1.51% rent growth · sell at horizon

5-year hold

• IRR: 11.8%
• Equity multiple: 1.46×
• Total profit: $25,776
• Equity at exit: $29,821

10-year hold

• IRR: 19.6%
• Equity multiple: 2.53×
• Total profit: $85,579
• Equity at exit: $17,292

Cash invested: $56,000 (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 98002

• Rents YoY: 1.5%
• Active inventory: 176
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $2,993 high
• Mortgage (P&I): −$1,049
• Tax est. 1.5%: −$250 /mo · $3,000/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$629
• Net cashflow: $982

Break-even live

Break-even rent $1,750

Max offer price $200,000

Occupancy floor 62%

Sensitivity live

Price	-10% $1,120	-5% $1,051	+0% $982	+5% $913	+10% $844
Rent	-10% $746	-5% $864	+0% $982	+5% $1,100	+10% $1,219
Rate	-1.0pp $1,083	-0.5pp $1,033	base $982	+0.5pp $930	+1.0pp $878

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4716 Mill Pond Dr SE Apt 1001 Auburn, WA	3.0	2.5	1673	$2,900	$1.73	12d	1	0.42mi
102 Hawthorne Ave S Pacific, WA	3.0	1.0	1285	$2,950	$2.30	0d	1	0.84mi
404 4th Ave SE Pacific, WA	3.0	2.0	2006	$3,600	$1.79	0d	1	0.95mi
6170 Terrace View Ln SE Auburn, WA	1.0–3.0	1.0–2.0	956	$2,551	$2.67	0d	36	1.14mi
6106 Alexander Ave SE Auburn, WA	3.0	2.5	1541	$2,800	$1.82	0d	1	1.19mi
6106 Alexander Ave SE Auburn, WA	3.0	2.5	1541	$2,800	$1.82	0d	1	1.19mi
1105 63rd St SE Unit C Auburn, WA	3.0	2.5	1372	$4,000	$2.92	0d	1	1.36mi
131 Elise Ct Unit NA Pacific, WA	3.0	2.0	1668	$3,000	$1.80	0d	1	1.45mi

Listing history 8 events

1. 2026-06-21
   days on market $200,000 Active 10 DOM
2. 2026-06-18
   days on market $200,000 Active 7 DOM
3. 2026-06-17
   days on market $200,000 Active 6 DOM
4. 2026-06-16
   days on market $200,000 Active 5 DOM
5. 2026-06-15
   days on market $200,000 Active 4 DOM
6. 2026-06-13
   days on market $200,000 Active 2 DOM
7. 2026-06-13
   remarks 691-char remark
8. 2026-06-13
   listed $200,000 Active 1 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 ≥88°F today · 16 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: $35,915
• − Mortgage interest: −$11,203
• − Property taxes: −$3,000
• − Insurance: −$1,000
• − Repairs & maintenance: −$2,873
• − Management: −$2,873
• − Depreciation: −$5,818
• Taxable income: $9,148
• Est. tax owed @ 24.0%: −$2,195
• After-tax cash flow: $9,592/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): 37,509
• Household income: $78,684
• Rent vs Own: 51.1% rent · 48.9% own
• Severe rent burden: 2202.0

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 0.72)
• Race & ethnicity: White 46% Hispanic / Latino 24% Two or more races 13% Black 12% Asian 6% Pacific Islander 4% Native American 2%
• Hispanic origin (detail): Mexican 20%
• Common ancestry: Portuguese 4% Subsaharan African 4% Lithuanian 3%
• Foreign-born: 24% · Canada, Vietnam
• Languages at home: 63% English-only · Spanish 19% Russian/Polish/Slavic 6% Other Asian/Pacific 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: ▼ -677.96%
• Current HPI: 298.0849
• Rent YoY: ▲ 1.51%
• 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

+5.3% since first listed

4 events — show timeline

• 2026-06-11 Listed $200,000 NWMLS as Distributed by MLS Grid
• 2024-07-22 Sold (MLS) $190,000 NWMLS as Distributed by MLS Grid
• 2024-06-06 Pending — NWMLS as Distributed by MLS Grid
• 2024-05-03 Listed $190,000 NWMLS as Distributed by MLS Grid