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201 Union Ave SE #111
C+ Composite 64.57
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 +22.5/30.0
  • ARV discount +15.0/15.0
  • 1% rule +7.5/10.0
  • DSCR +7.5/10.0
  • Schools +4.7/10.0
  • Livability +4.2/5.0
  • Condition / age +3.8/5.0
  • Rent growth +2.6/5.0
  • Appreciation +2.5/10.0
  • Manufactured-home adj. -5.6

$95,000

201 Union Ave SE #111 · Renton, WA 98059
2 bd · 2.0 ba · 1,344 sqft · Manufactured
Manufactured home 55+ age-restricted Built 1978 Good condition $71/sqft · 25% below area Est $127k · 25% under

🖨 Deal sheet (PDF) 📄 Offer letter ✓ Due diligence

Listing remarks

SELLER SACRIFICE! Welcome to the fabulous 55+ community of Leisure Estates located in the desirable Renton Highlands! Enjoy this beautifully maintained, 1344 sqft home located on a large corner lot! Recent updates include new roof in 2024, several updated appliances, and luxury vinyl plank flooring! Great floorplan offers both a formal living room with dining area as well as a family room adjacent to the large kitchen. In the kitchen, find ample counter space and cabinets ready for a cooking endeavors or entertaining! The kitchen also provides a large breakfast bar, perfect for an informal meal!

Key facts

  • Updated appliances
  • Large corner lot
  • Family room

Tags

LARGE CORNER LOTNEW ROOFUPDATED APPLIANCESLUXURY VINYL PLANK FLOORINGFORMAL LIVING ROOMFAMILY ROOM

Neighborhood map

Property Rental comp Retail Costco Walmart Transit Schools Stadiums Fortune 500 · Circle radius: 6.0 mi
Loading POIs…

What this means for you Summary

Snapshot

  • This is a 2-bed/2.0-bath manufactured listed at $95k. Condition is rated good.

Deal economics

  • At list price, monthly cash flow is $899 ($11k/yr) — positive.
  • The deal already cash-flows at list — no discount required.
  • Meets the 1% rule at list price ($2k rent vs $95k).
  • Cap rate 17.7% 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.
  • Zoned schools: Maplewood Heights Elementary School (610 students, 27% FRL); Mcknight Middle School (861 students, 52% FRL); Hazen Senior High School (1,871 students, 40% FRL) — zoned schools at 39% FRL track the district average.
  • Market conditions: Rents flat; 407 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 40d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 58% of comp listings sitting > 30 days — soft ceiling on asking rent; high-income renter base; 10,555 units permitted in King County in 2024 (7,119 in 5+ unit buildings).
  • This rent is only 17% of the median local income ($139k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

  • Local home prices are declining (-3.0%/yr); year-one equity from $657 of loan paydown is wiped out by about $3k 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 $27k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

  • Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
  • 2 sale attempts since 21y ago; this cycle's ask has dropped $25k (21%) from the opening price — seller is motivated, your offer sets the floor, not the list.
  • Current owner paid $60k; list at $95k implies a 58% gain — meaningful room to come down on a strong offer.
Recommended offer $95,000

Questions for the listing agent

  1. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
  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
2.07%
Cap rate
17.65%
Cash-on-cash
40.58%
DSCR
2.81
GRM
4.0

CMA / ARV

ARV (median comp)
$127,141
List price
$95,000
Delta
-25.28%
Verdict
UNDERPRICED
Comps
19 within 1.0 mi
Show comp detail 12 sales within ~0.75 mi
Address Dist Beds/Ba Sqft Sold Price $/sf Match
201 Union Ave SE #249 0.00mi 2/2.0 1,344 (0%) 7mo $185,500 $138 94
201 Union Ave SE #155 0.00mi 2/2.0 1,248 (-7%) 4mo $175,000 $140 85
201 Union Ave SE #112 0.22mi 2/2.0 1,339 (-0%) 6mo $86,000 $64 84
375 Union Ave SE #59 0.25mi 3/2.0 (+1) 1,344 (0%) 1mo $183,500 $137 83
201 Union Ave SE #74 0.00mi 2/2.0 1,440 (+7%) 8mo $181,500 $126 81
375 Union Ave SE #136 0.25mi 3/2.0 (+1) 1,344 (0%) 4mo $192,448 $143 81
201 Union Ave SE #93 0.22mi 2/2.0 1,248 (-7%) 1mo $70,000 $56 77
375 Union Ave SE #125 0.36mi 3/2.0 (+1) 1,344 (0%) 3mo $210,000 $156 76
201 Union Ave SE #217 0.22mi 2/2.0 1,248 (-7%) 5mo $110,000 $88 74
375 Union Ave SE #61 0.38mi 2/2.0 1,300 (-3%) 7mo $180,000 $138 71
201 Union Ave SE #22 0.22mi 2/2.0 1,536 (+14%) 0mo $80,000 $52 66
201 Union Ave SE #147 0.17mi 2/2.0 1,536 (+14%) 5mo $100,000 $65 64

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
33.9%
Equity multiple
2.38×
Total profit
$36,694
Equity at exit
$14,165
10-year hold
IRR
39.4%
Equity multiple
4.21×
Total profit
$85,516
Equity at exit
$8,214

Cash invested: $26,600 (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.
Balanced market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

For sale now
9 active · 5 under contract
Months of supply
5.4 mo (19%/mo absorbed)
Median asking
$129,000 ($103/sqft)
Median days on market
116 d
This list price
11% of active listings are priced below it
ARV vs active asking
-8.5% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 98059

Rents YoY
0.3%
Active inventory
407
Price-to-rent
4.0×

Monthly cashflow live

Estimated rent
$1,970 high interval (Pro) →
Mortgage (P&I)
$498
Tax est. 1.5%
$119 /mo · $1,425/yr
Insurance
$40
HOA
$0
Lot rent leased land?
$0
Vacancy / Maint / Mgmt
$414
Net cashflow
$899

Break-even live

Break-even rent $831
Max offer price $95,000
Occupancy floor 49%

Sensitivity live

Price -10% $965 -5% $932 +0% $899 +5% $867 +10% $834
Rent -10% $744 -5% $822 +0% $899 +5% $977 +10% $1,055
Rate -1.0pp $947 -0.5pp $924 base $899 +0.5pp $875 +1.0pp $850

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
$23,750
Closing costs
$2,850
Reserves months
Total cash needed

Loan-product check · same deal, 3 products live

Conventional

25% down · 7.5% · 30yr

Cash invested
Monthly P&I
Monthly cashflow
DSCR
Eligible?

Personal DTI + credit; lowest rate.

DSCR

20% down · 8.5% · 30yr

Cash invested
Monthly P&I
Monthly cashflow
DSCR
Eligible?

No personal income docs; deal must DSCR.

Hard money

10% down · 12.0% · 12mo

Cash invested
Monthly P&I
Monthly cashflow
DSCR
Eligible?

Short-term bridge; refi at stabilization.

Rent comps 40 comps

AddressBedsBaths SqftRent$/sqft DOM Units Dist
3815 NE 4th St Renton, WA 2.0 1.0 666 $2,099 $3.15 4d 21 0.25mi
4214 SE 1st Pl Renton, WA 3.0 1.0 950 $2,950 $3.11 120d 1 0.26mi
351 Vashon Ct NE Renton, WA 2.0 2.0 1310 $2,950 $2.25 86d 1 0.35mi
4231 NE 5th St Unit D203 Renton, WA 2.0 2.0 1025 $2,095 $2.04 89d 1 0.51mi
500 Monroe Ave NE Renton, WA 2.0 2.0 960 $2,184 $2.27 0d 6 0.55mi
3404 SE 5th St Renton, WA 3.0 1.0 900 $3,050 $3.39 89d 1 0.55mi
4319 NE 5th Ct #106 Renton, WA 2.0 2.0 1090 $2,250 $2.06 94d 1 0.61mi
4310 NE 5th Ct #104 Renton, WA 1.0 1.0 920 $2,150 $2.34 94d 1 0.62mi
4415 NE 5th St Renton, WA 1.0–3.0 1.0–2.0 923 $2,112 $2.29 0d 13 0.63mi
3930 NE 6th Pl Renton, WA 3.0 2.0 1090 $2,507 $2.30 30d 1 0.65mi
650 Duvall Ave NE Renton, WA 2.0–3.0 1.0–3.0 1099 $2,049 $1.86 2d 4 0.84mi
3507 NE 8th St Renton, WA 3.0 1.0 960 $2,650 $2.76 113d 1 0.86mi
5027 NE 5th Pl Renton, WA 3.0 2.5 1287 $3,300 $2.56 119d 1 0.88mi
2511 NE 4th St Renton, WA 2.0 1.5 1008 $1,800 $1.79 87d 1 0.89mi
2307 NE 4th St Renton, WA 1.0–2.0 1.0–2.0 740 $2,077 $2.81 0d 8 0.94mi
2904 SE 8th St #2128 Renton, WA 2.0 2.0 1046 $2,350 $2.25 94d 1 0.95mi
14204 SE 144th St Renton, WA 3.0 1.5 1600 $3,400 $2.12 72d 1 1.03mi
1003 Tacoma Ave NE Renton, WA 3.0 1.5 1280 $3,000 $2.34 40d 1 1.07mi
14051 145th Ave SE Renton, WA 3.0 2.0 1548 $3,050 $1.97 94d 1 1.08mi
14051 145th Ave SE Renton, WA 2.0 2.0 1548 $2,850 $1.84 44d 1 1.08mi
604 Camas Ave NE Renton, WA 3.0 1.0 1600 $3,400 $2.12 44d 1 1.09mi
3605 NE 10th Ct Renton, WA 3.0 2.0 1330 $3,090 $2.32 60d 1 1.11mi
950 Harrington Ave NE Renton, WA 1.0–2.0 1.0–2.0 868 $2,621 $3.02 0d 12 1.15mi
270 Bronson Way NE Renton, WA 2.0 1.0 1000 $1,999 $2.00 10d 2 1.16mi
270 Bronson Way NE Unit The Hampton H22 Renton, WA 2.0 1.0 1000 $2,250 $2.25 139d 1 1.16mi
2468 SE 8th Pl Renton, WA 2.0 1.5 1231 $2,700 $2.19 6d 1 1.18mi
15205 140th Way SE Renton, WA 1.0–3.0 1.0–2.0 1121 $2,474 $2.21 0d 15 1.21mi
1064 Kirkland Ave NE Unit 102A Renton, WA 2.0 1.0 975 $1,795 $1.84 18d 1 1.26mi
1064 Kirkland Ave NE Renton, WA 2.0 1.0 975 $1,772 $1.82 10d 1 1.26mi
1064 Kirkland Ave NE Unit 101 Renton, WA 2.0 1.0 975 $1,795 $1.84 18d 1 1.26mi
1064 Kirkland Ave NE Unit 201 Renton, WA 2.0 1.0 975 $1,750 $1.79 18d 1 1.26mi
2715 Sunset Ln NE Renton, WA 2.0 1.0–2.0 731 $2,721 $3.72 4d 5 1.27mi
2227 SE 8th Pl Renton, WA 3.0 2.5 1560 $3,100 $1.99 30d 1 1.29mi
2211 NE 7th St Renton, WA 3.0 2.0 1200 $2,795 $2.33 23d 1 1.29mi
2211 NE 7th St Renton, WA 3.0 2.0 1200 $2,795 $2.33 33d 1 1.29mi
1160 Monroe Ave NE Unit D1 Renton, WA 2.0 2.5 1539 $2,700 $1.75 40d 1 1.32mi
1160 Monroe Ave NE Renton, WA 2.0 2.0–2.5 1248 $2,510 $2.01 44d 3 1.32mi
3109 NE 11th Pl Unit 3109D Renton, WA 2.0 1.5 1186 $2,525 $2.13 99d 1 1.32mi
3109 NE 11th Pl Unit 3109B Renton, WA 2.0 1.5 1200 $2,525 $2.10 10d 1 1.32mi
2950 NE 11th St Renton, WA 2.0–3.0 2.0–3.0 1229 $2,764 $2.25 0d 9 1.34mi

Property features AI

Finance

Other
Calculated building area 1344Manufactured after 6/15/1976
Financial info
Land lease applies ($1,391)Cash offers only (listing terms)
HOA & community
Leisure Estates park with clubhouse, common area, exercise room, pool, RV parking, and spa/hot tubSenior community254 homes in the parkPark approved for sale

Exterior

Parking
Carport
Utilities
Electric energy sourcePublic water (billed by park)Sewer billed by parkPuget Sound Energy powerComcast cableComcast internetSpa/Hot Tub available in park
Home design
Manufactured home (double wide)One storyModel HWRD 56/24Mobile home remains
Construction
Metal/vinyl constructionComposition roof
Exterior features
Metal/vinyl exteriorCorner lotCurbsPaved

Interior

Kitchen
DishwasherMicrowaveRefrigeratorStove/Range
Bedrooms
2 bedrooms
Flooring
Vinyl plankCarpet
Bathrooms
1 full bathroom1 three-quarter bathroom1 bathtub2 showers
Heating & cooling
Heat pump heatingHeat pump cooling
Interior features
Dining roomLiving roomUtility roomAwningsLandscapedDouble pane windows
Laundry & utility
WasherDryer

Listing history 50 events

  1. 2026-09-21
    days on market $95,000 Active
  2. 2026-09-20
    days on market $95,000 Active 167 DOM
  3. 2026-09-19
    days on market $95,000 Active 166 DOM
  4. 2026-09-18
    days on market $95,000 Active 165 DOM
  5. 2026-09-17
    days on market $95,000 Active 164 DOM
  6. 2026-09-16
    days on market $95,000 Active 163 DOM
  7. 2026-09-15
    days on market $95,000 Active 162 DOM
  8. 2026-09-14
    days on market $95,000 Active 161 DOM
  9. 2026-09-13
    days on market $95,000 Active 160 DOM
  10. 2026-09-12
    days on market $95,000 Active 159 DOM
  11. 2026-09-11
    days on market $95,000 Active 158 DOM
  12. 2026-09-05
    days on market $95,000 Active 152 DOM
  13. 2026-09-04
    days on market $95,000 Active 151 DOM
  14. 2026-09-03
    pricedays on market $95,000 Active 150 DOM
  15. 2026-08-31
    days on market $103,000 Active 147 DOM
  16. 2026-08-30
    days on market $103,000 Active 146 DOM
  17. 2026-08-29
    days on market $103,000 Active 145 DOM
  18. 2026-08-28
    days on market $103,000 Active 144 DOM
  19. 2026-08-27
    days on market $103,000 Active 143 DOM
  20. 2026-08-26
    days on market $103,000 Active 142 DOM
  21. 2026-08-25
    days on market $103,000 Active 141 DOM
  22. 2026-08-24
    days on market $103,000 Active 140 DOM
  23. 2026-08-23
    days on market $103,000 Active 139 DOM
  24. 2026-08-22
    days on market $103,000 Active 138 DOM
  25. 2026-08-21
    days on market $103,000 Active 137 DOM
  26. 2026-08-20
    days on market $103,000 Active 136 DOM
  27. 2026-08-19
    days on market $103,000 Active 135 DOM
  28. 2026-08-18
    days on market $103,000 Active 134 DOM
  29. 2026-08-17
    days on market $103,000 Active 133 DOM
  30. 2026-08-16
    days on market $103,000 Active 132 DOM
  31. 2026-08-15
    days on market $103,000 Active 131 DOM
  32. 2026-08-14
    days on market $103,000 Active 130 DOM
  33. 2026-08-13
    days on market $103,000 Active 129 DOM
  34. 2026-08-12
    days on market $103,000 Active 128 DOM
  35. 2026-08-11
    days on market $103,000 Active 127 DOM
  36. 2026-08-10
    days on market $103,000 Active 126 DOM
  37. 2026-08-09
    days on market $103,000 Active 125 DOM
  38. 2026-08-08
    days on market $103,000 Active 124 DOM
  39. 2026-08-06
    days on market $103,000 Active 122 DOM
  40. 2026-08-05
    days on market $103,000 Active 121 DOM
  41. 2026-08-04
    days on market $103,000 Active 120 DOM
  42. 2026-08-03
    pricedays on market $103,000 Active 119 DOM
  43. 2026-07-31
    days on market $108,000 Active 116 DOM
  44. 2026-07-30
    days on market $108,000 Active 114 DOM
  45. 2026-07-28
    days on market $108,000 Active 113 DOM
  46. 2026-07-26
    days on market $108,000 Active 111 DOM
  47. 2026-07-24
    days on market $108,000 Active 109 DOM
  48. 2026-07-23
    days on market $108,000 Active 108 DOM
  49. 2026-07-22
    days on market $108,000 Active 107 DOM
  50. 2026-07-21
    days on market $108,000 Active 106 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 ≥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

Nearby sold comps map

Loading sold comps map…

Walkable amenities ~0.75 mi

Loading nearby amenities…

Taxation est. · year 1

Rental income
$23,635
− Mortgage interest
−$5,321
− Property taxes
−$1,425
− Insurance
−$475
− Repairs & maintenance
−$1,891
− Management
−$1,891
− Depreciation
−$2,764
Taxable income
$9,869
combined federal + state — saved on this device
Est. tax owed @ 24.0%
−$2,368
After-tax cash flow
$8,425/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 75/100 Cosmetic rehab Est. rehab $6,720–$20,160 screening

This well-maintained, 1344 square foot manufactured home in Leisure Estates offers a good condition with recent updates and a good curb appeal.

Value-add opportunities

  • Both paint exterior — enhances curb appeal and resale value
  • Both replace sliding glass doors — improves functionality and resale value

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

Zoned Schools

Elementary Maplewood Heights Elementary School Middle Mcknight Middle School High Hazen Senior High School

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
A Composite livability gradescore 83/100

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 · 2,576,485 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
10% of renters

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

Price history

+82.4% since first listed
4 events — show timeline
  • 2026-06-10 Price Changed $114,900 NWMLS as Distributed by MLS Grid
  • 2026-04-06 Listed $119,900 NWMLS as Distributed by MLS Grid
  • 2005-11-10 Sold (MLS) $60,000 NWMLS as Distributed by MLS Grid
  • 2005-09-26 Listed $62,990 NWMLS as Distributed by MLS Grid

Cash-flow waterfall

monthly

Sold comps — $/sqft

last 12 mo · ≤1 mi

Loading sold comps…