4248 A St SE #602 · Auburn, WA 98002

$200,000

4 bd · 2.0 ba · 1,569 sqft · Manufactured · 74 Days on market

Built 1994 Est $195k · 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
• ARV discount +6.2/15.0
• 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

Spacious and thoughtfully updated 3-bedroom, 2-bath manufactured home in Auburn offering over 1,500 sq ft of comfortable, single-level living. This home features a functional and open layout with generous living and dining areas, ideal for both everyday living and entertaining. The bright kitchen comes equipped with updated appliances and plenty of cabinet space, while the primary suite offers privacy and comfort with its own full bath. Recent upgrades include new siding and fresh interior paint, giving the home a clean, modern, and move-in ready feel throughout. Situated in a relaxed, easygoing community with no age restrictions, you’ll enjoy a welcoming neighborhood atmosphere. Conv

Key facts

• Updated appliances
• Bright kitchen
• New siding

Tags

• UPDATED APPLIANCES
• GENEROUS LIVING AREAS
• BRIGHT KITCHEN
• NEW SIDING
• FRESH INTERIOR PAINT
• QUICK ACCESS TO HWY 167

Property features AI

Finance

• Financial info: Listing terms: Cash or Conventional
• HOA & community: Located in a park with clubhouse, common area, playground and recreational area; Park contains about 204 homes; Pets: see remarks; Park name: White River Estates; Land lease: $1,200

Exterior

• Parking: Uncovered parking
• Home design: Manufactured double-wide home; Single-story
• Construction: Wood construction materials; Composition roof; Manufactured house (double wide)
• Exterior features: Wood exterior products; Wood construction; Composition roof

Interior

• Bedrooms: 4 bedrooms
• Bathrooms: 2 full bathrooms
• Interior features: Entry

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 $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $200k).
• Recommended offer: $188k (6.0% below list) — sets the bar for market timing.
• Cap rate 12.8% 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); 171 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals leasing fast (median 2d 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 $3,119/mo this rent would consume 48% 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 ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 74 days — a 6% lower offer ($188k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 24y 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 $40k; list at $200k implies a 400% gain — meaningful room to come down on a strong offer.

Recommended offer $188,000 (6.0% below list)

Questions for the listing agent

1. It's been on market 74 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 1.56% ✓
• Cap rate: 12.79%
• Cash-on-cash: 23.19%
• DSCR: 2.03
• GRM: 5.3

CMA / ARV

• ARV (on-the-fly): $194,556
• 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	0.04mi	4/2.0	1,620 (+3%)	14mo	$189,950	$117	81
4248 A St SE #421	0.04mi	3/2.0 (-1)	1,512 (-4%)	15mo	$165,000	$109	74
4248 A St SE #423	0.00mi	3/2.0 (-1)	1,446 (-8%)	10mo	$179,950	$124	74
4248 A St SE #133	0.04mi	3/2.0 (-1)	1,584 (+1%)	22mo	$142,000	$90	73
707 37th St SE #17	0.50mi	3/2.0 (-1)	1,500 (-4%)	4mo	$147,500	$98	61
4248 A St SE #518	0.06mi	3/2.0 (-1)	1,344 (-14%)	9mo	$145,000	$108	61
4248 A St SE #228	0.04mi	3/2.0 (-1)	1,344 (-14%)	11mo	$175,000	$130	60
707 37th St SE #71	0.50mi	4/2.0	1,440 (-8%)	6mo	$160,000	$111	58
206 Birch Ln	0.53mi	3/2.0 (-1)	1,524 (-3%)	13mo	$520,000	$341	55
417 2nd Ave SE	0.75mi	3/2.0 (-1)	1,620 (+3%)	10mo	$464,000	$286	47
707 37th St SE #36	0.50mi	3/2.0 (-1)	1,404 (-10%)	9mo	$215,000	$153	47
111 Aspen Ln S	0.47mi	3/2.0 (-1)	1,782 (+14%)	11mo	$460,000	$258	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 · 1.51% rent growth · sell at horizon

5-year hold

• IRR: 14.5%
• Equity multiple: 1.57×
• Total profit: $31,950
• Equity at exit: $29,821

10-year hold

• IRR: 22.1%
• Equity multiple: 2.76×
• Total profit: $98,407
• 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: 171
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $3,119 high
• Mortgage (P&I): −$1,049
• Tax est. 1.5%: −$250 /mo · $3,000/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$655
• Net cashflow: $1,082

Break-even live

Break-even rent $1,750

Max offer price $200,000

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

Rent comps 6 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	10d	1	0.46mi
102 Hawthorne Ave S Pacific, WA	3.0	1.0	1285	$2,950	$2.30	1d	1	0.80mi
404 4th Ave SE Pacific, WA	3.0	2.0	2006	$3,600	$1.79	1d	1	0.92mi
1105 63rd St SE Unit C Auburn, WA	3.0	2.5	1372	$4,000	$2.92	1d	1	1.38mi
131 Elise Ct Unit NA Pacific, WA	3.0	2.0	1668	$3,000	$1.80	1d	1	1.40mi
110 2nd Ave S Algona, WA	3.0	2.0	1530	$3,600	$2.35	1d	1	1.46mi

Listing history 11 events

1. 2026-06-01
   statusdays on market $200,000 Pending 74 DOM
2. 2026-05-31
   days on market $200,000 Active 73 DOM
3. 2026-03-19
   listed $200,000 Active
4. 2009-08-19
   soldstatus $40,000 Sold
5. 2009-08-10
   status Pending
6. 2009-05-28
   price $44,500
7. 2009-05-07
   listed $49,500
8. 2005-04-27
   soldstatus $48,000
9. 2005-03-14
   listed $49,950
10. 2002-06-14
    soldstatus $61,500
11. 2002-01-14
    listed $64,900

ⓘ 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: $37,432
• − Mortgage interest: −$11,203
• − Property taxes: −$3,000
• − Insurance: −$1,000
• − Repairs & maintenance: −$2,995
• − Management: −$2,995
• − Depreciation: −$5,818
• Taxable income: $10,421
• Est. tax owed @ 24.0%: −$2,501
• After-tax cash flow: $10,484/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

+208.2% since first listed

9 events — show timeline

• 2026-03-19 Listed $200,000 NWMLS as Distributed by MLS Grid
• 2009-08-19 Sold (MLS) $40,000 NWMLS as Distributed by MLS Grid
• 2009-08-10 Pending — NWMLS as Distributed by MLS Grid
• 2009-05-28 Price Changed $44,500 NWMLS as Distributed by MLS Grid
• 2009-05-07 Listed $49,500 NWMLS as Distributed by MLS Grid
• 2005-04-27 Sold (MLS) $48,000 NWMLS as Distributed by MLS Grid
• 2005-03-14 Listed $49,950 NWMLS as Distributed by MLS Grid
• 2002-06-14 Sold (MLS) $61,500 NWMLS as Distributed by MLS Grid
• 2002-01-14 Listed $64,900 NWMLS as Distributed by MLS Grid