375 Union Ave SE #136 · Renton, WA 98059

$194,997

3 bd · 2.0 ba · 1,344 sqft · Manufactured · 31 Days on market

Built 1985 $145/sqft · 44% above area Est $136k · 44% 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.7/10.0
• Livability +4.2/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Hurry on this incredible opportunity—affordable manufactured home priced to sell! located in Desirable Sunnydale this light-filled home offers a spacious open layout with vaulted ceilings that create an airy, expansive feel throughout. Featuring 3 bedrooms and 2 full baths, the floor plan is both functional and inviting. The kitchen is equipped with stainless steel appliances—including range, microwave, dishwasher, and refrigerator—and flows seamlessly into the generous living area, making it ideal for everyday living and entertaining. Beautiful newer flooring and abundant natural light enhance the warm, welcoming interior. Step outside to a large yard with endless potenti

Key facts

• Large yard
• Spacious open layout
• Off-street parking

Tags

• SPACIOUS OPEN LAYOUT
• STAINLESS STEEL APPLIANCES
• LARGE YARD
• OFF-STREET PARKING

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $195k.

Deal economics

• At list price, monthly cash flow is $970 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $195k).
• Recommended offer: $189k (3.0% below list) — sets the bar for market timing.
• Cap rate 12.3% vs local median 2.3% in Renton — 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 83/100 on livability (#52 in WA, #949 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, employment A+; Watch: crime D-, cost of living F.
• Renton School District (urban): math 47% / reading 55% proficiency, ranked #119 of 291 in WA (top 41%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents flat; 255 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals leasing fast (median 11d 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

• 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 + 0.3% rent growth), your $55k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($189k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 19y 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 $60k; list at $195k implies a 225% gain — meaningful room to come down on a strong offer.

Recommended offer $189,147 (3.0% below list)

Questions for the listing agent

1. It's been on market 31 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. Schools are B-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?
4. Crime grade is D 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?
5. 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.
6. 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.
7. 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: 12.26%
• Cash-on-cash: 21.32%
• DSCR: 1.95
• GRM: 5.5

CMA / ARV

• ARV (median comp): $135,550
• List price: $194,997
• Delta: 43.86%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
375 Union Ave SE #136	0.00mi	3/2.0	1,344 (0%)	0mo	$192,448	$143	100
201 Union Ave SE #112	0.10mi	2/2.0 (-1)	1,339 (-0%)	2mo	$86,000	$64	88
201 Union Ave SE #247	0.10mi	2/2.0 (-1)	1,344 (0%)	6mo	$175,000	$130	86
201 Union Ave SE #249	0.25mi	2/2.0 (-1)	1,344 (0%)	4mo	$185,500	$138	81
375 Union Ave SE #61	0.14mi	2/2.0 (-1)	1,300 (-3%)	4mo	$180,000	$138	80
201 Union Ave SE #217	0.10mi	2/2.0 (-1)	1,248 (-7%)	2mo	$110,000	$88	77
201 Union Ave SE #155	0.25mi	2/2.0 (-1)	1,248 (-7%)	1mo	$175,000	$140	71
201 Union Ave SE #157	0.25mi	3/2.0	1,440 (+7%)	8mo	$140,000	$97	70
201 Union Ave SE #74	0.25mi	2/2.0 (-1)	1,440 (+7%)	5mo	$181,500	$126	67
201 Union Ave SE #147	0.13mi	2/2.0 (-1)	1,536 (+14%)	2mo	$100,000	$65	64
201 Union Ave SE #58	0.13mi	3/2.0	1,536 (+14%)	9mo	$130,000	$85	63
201 Union Ave SE #128	0.13mi	2/2.0 (-1)	1,536 (+14%)	8mo	$75,000	$49	59

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 · 0.29% rent growth · sell at horizon

5-year hold

• IRR: 10.7%
• Equity multiple: 1.41×
• Total profit: $22,441
• Equity at exit: $29,075

10-year hold

• IRR: 17.5%
• Equity multiple: 2.26×
• Total profit: $69,003
• Equity at exit: $16,860

Cash invested: $54,599 (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 98059

• Rents YoY: 0.3%
• Active inventory: 255
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $2,934 high
• Mortgage (P&I): −$1,023
• Tax est. 1.5%: −$244 /mo · $2,925/yr
• Insurance: −$81
• HOA: −$0
• Vacancy / Maint / Mgmt: −$616
• Net cashflow: $970

Break-even live

Break-even rent $1,706

Max offer price $194,997

Occupancy floor 62%

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: $48,749
• Closing costs: $5,850
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4214 SE 1st Pl Renton, WA	3.0	1.0	950	$2,950	$3.11	24d	1	0.29mi
3815 NE 4th St Renton, WA	2.0	1.0	666	$2,199	$3.30	2d	22	0.53mi
4231 NE 5th St Unit D203 Renton, WA	2.0	2.0	1025	$2,200	$2.15	11d	1	0.75mi
2904 SE 8th St #2128 Renton, WA	2.0	2.0	1046	$2,450	$2.34	44d	1	0.80mi
4415 NE 5th St Renton, WA	1.0–3.0	1.0–2.0	923	$3,044	$3.30	2d	10	0.85mi
2902 SE 11th Pl #1066 Renton, WA	4.0	3.0	1823	$3,299	$1.81	24d	1	0.87mi
15205 140th Way SE Renton, WA	1.0–3.0	1.0–2.0	1121	$3,665	$3.27	2d	10	0.94mi
5027 NE 5th Pl Renton, WA	3.0	2.5	1287	$3,300	$2.56	24d	1	1.02mi
650 Duvall Ave NE Renton, WA	1.0–2.0	1.0–2.0	849	$2,427	$2.86	3d	12	1.03mi
2511 NE 4th St Renton, WA	2.0	1.5	1008	$1,900	$1.88	3d	1	1.05mi
706 Bremerton Pl NE Renton, WA	4.0	2.5	1850	$3,600	$1.95	2d	1	1.07mi
5415 NE 4th St Renton, WA	2.0	2.0	1810	$2,650	$1.46	44d	1	1.08mi
2307 NE 4th St Renton, WA	1.0–2.0	1.0–2.0	740	$2,259	$3.05	2d	14	1.08mi
4627 NE 7th Pl Renton, WA	4.0	2.5	1870	$3,595	$1.92	24d	1	1.10mi
3507 NE 8th St Renton, WA	3.0	1.0	960	$2,650	$2.76	18d	1	1.14mi
2227 SE 8th Pl Renton, WA	3.0	2.0	1560	$3,650	$2.34	4d	1	1.19mi
270 Bronson Way NE Unit The Hampton H22 Renton, WA	2.0	1.0	1000	$2,250	$2.25	44d	1	1.27mi
950 Harrington Ave NE Renton, WA	1.0–2.0	1.0–2.0	868	$2,853	$3.29	2d	11	1.41mi

Listing history 6 events

1. 2026-05-02
   status Pending
2. 2026-04-28
   price $194,997
3. 2026-04-01
   listed $199,997 Active
4. 2007-06-04
   soldstatus $59,950
5. 2007-05-30
   historical
6. 2007-04-04
   listed $59,950

ⓘ 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 ≥86°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: $35,205
• − Mortgage interest: −$10,923
• − Property taxes: −$2,925
• − Insurance: −$975
• − Repairs & maintenance: −$2,816
• − Management: −$2,816
• − Depreciation: −$5,673
• Taxable income: $9,076
• Est. tax owed @ 24.0%: −$2,178
• After-tax cash flow: $9,462/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: Renton School District
• NCES district ID: 5307230
• Math proficiency: 47% ▼ -1.00%
• Reading proficiency: 55% ▼ -1.00%
• Median HH income: $66,354
• Composite: 47.13/100
• National rank: #5108
• State rank: #119 of 291 in WA

Livability — Renton

• Score: 83/100
• State rank: #52
• US rank: #949

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Renton, WA
• County: King County · 2,251,916 people
• City population: 158,600
• Metro: Seattle-Tacoma-Bellevue, WA
• Population (ZIP): 42,406
• Household income: $138,654
• Rent vs Own: 23.4% rent · 76.6% own
• Severe rent burden: 908.0

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 0.68)
• Race & ethnicity: White 48% Asian 29% Two or more races 15% Hispanic / Latino 9% Black 2%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Portuguese 3% Italian 3% Slovak 2%
• Foreign-born: 23% · China, Vietnam, Canada
• Languages at home: 67% English-only · Chinese 9% Vietnamese 6% Spanish 5%

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: ▼ -920.66%
• Current HPI: 338.4495
• Rent YoY: ▲ 0.29%
• 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

+225.3% since first listed

6 events — show timeline

• 2026-05-02 Pending — NWMLS as Distributed by MLS Grid
• 2026-04-28 Price Changed $194,997 NWMLS as Distributed by MLS Grid
• 2026-04-01 Listed $199,997 NWMLS as Distributed by MLS Grid
• 2007-06-04 Sold (MLS) $59,950 NWMLS as Distributed by MLS Grid
• 2007-05-30 Delisted — NWMLS as Distributed by MLS Grid
• 2007-04-04 Listed $59,950 NWMLS as Distributed by MLS Grid