17110 NE 45th St #30 · Redmond, WA 98052

$298,000

1 bd · 1.0 ba · 770 sqft · Condo public records · 12 Days on market

Built 1968 $387/sqft · 17% below area Est $360k · 17% under $447/mo HOA · 20% of rent

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Why this score? — see what drove the D 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).

• ARV discount +15.0/15.0
• Schools +7.5/10.0
• Cash flow +6.0/30.0
• Livability +4.4/5.0
• Rent growth +2.7/5.0
• 1% rule +2.6/10.0
• Condition / age +2.5/5.0
• DSCR +0.4/10.0
• Appreciation +0.0/10.0

Listing remarks

Don’t miss this fantastic second-floor condo offering lakeside living, exceptional amenities, and an unbeatable location. Enjoy direct access to Lake Sammamish with a private boat launch and a stunning waterfront clubhouse perched over the water—perfect for relaxing, entertaining, or meeting friends at the dock, pool, or hot tub. Inside, the condo features a bright, spacious bedroom, a full bath, generous storage and a comfortable deck ideal for outdoor enjoyment. Perfectly situated for an active lifestyle, you’re minutes from Marymoor Park, Idylwood Beach Park, Crossroads Park, and just 1.5 miles from Microsoft. Pet-friendly with no rental cap, this community offers both

Key facts

• Waterfront clubhouse
• Pet-friendly
• Lakeside living

Tags

• LAKESIDE LIVING
• PRIVATE BOAT LAUNCH
• WATERFRONT CLUBHOUSE
• OUTDOOR ENJOYMENT
• PET-FRIENDLY

Property features AI

Finance

• Other: Top floor unit in a 4-unit building within a 185-unit community; Community waterfront / private beach access; Bus line nearby
• Financial info: Listing eligible for Cash and Conventional terms
• HOA & community: Monthly HOA fee (includes central hot water, common area maintenance, lawn service, road maintenance, sewer, trash, water); Community amenities: athletic court, clubhouse, dock, game/rec room, high-speed internet availability, laundry room, outside entry, outdoor pool, trails; Pets allowed

Exterior

• Parking: Uncovered open parking (1 space) — assigned space 30
• Security: Fire sprinklers in community
• Utilities: Electric power; Water provided by HOA; Sewer provided by HOA; Power by Puget Sound Energy
• Home design: Attached condominium; One level (condo on top floor); Main entry level
• Construction: Wood construction; Composition roof
• Exterior features: Wood exterior; Paved access

Interior

• Kitchen: Dishwasher, Refrigerator, Stove/Range
• Bedrooms: 1 bedroom (main level)
• Flooring: Ceramic tile; Vinyl; Carpet
• Bathrooms: 1 full bathroom with tub and shower
• Heating & cooling: Baseboard heating; No central cooling
• Interior features: Dishwasher, Refrigerator, Stove/Range; Ceramic tile, Vinyl, Carpet flooring
• Laundry & utility: Community laundry room available

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $298k.

Deal economics

• At list price, monthly cash flow is $-566 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $198k (33.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $226k (24.1% below list).
• Recommended offer: $198k (33.6% below list) — sets the bar for cash-flow.
• Cap rate 4.0% vs local median 1.4% in Redmond — 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 88/100 on livability (#10 in WA, #186 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, employment A+; Watch: cost of living F.
• Lake Washington School District (suburban): math 79% / reading 85% proficiency, ranked #3 of 291 in WA (top 1%) — strong family-tenant draw, lease renewals of 3-5y typical; only 10% free/reduced lunch — higher-income household profile.
• Zoned schools: John J. Audubon Elementary (517 students, 9% FRL); Redmond High School (2,218 students, 15% FRL) — zoned schools at 12% FRL track the district average.
• Market conditions: Rents flat; 337 active listings in the ZIP; 23 comparable units currently listed for rent nearby; rentals leasing fast (median 6d 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).
• This rent is only 17% of the median local income ($163k/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 $2k of loan paydown is wiped out by about $9k 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.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts 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 $90k; list at $298k implies a 231% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $198,017 (33.6% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1968 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are A-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?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.76% ✗
• Cap rate: 4.01%
• Cash-on-cash: -8.14%
• DSCR: 0.64
• GRM: 11.0

CMA / ARV

• ARV (median comp): $360,444
• List price: $298,000
• Delta: -9.83%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.65% rent growth · sell at horizon

5-year hold

• IRR: -33.6%
• Equity multiple: -0.07×
• Total profit: $-89,349
• Equity at exit: $44,433

10-year hold

• IRR: -61.9%
• Equity multiple: -0.72×
• Total profit: $-143,809
• Equity at exit: $25,766

Cash invested: $83,440 (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 98052

• Rents YoY: 0.7%
• Active inventory: 337
• Price-to-rent: 11.0×

Monthly cashflow live

• Estimated rent: $2,262 high
• Mortgage (P&I): −$1,563
• Tax from tax record: −$219 /mo · $2,632/yr
• Insurance: −$124
• HOA: −$447
• Vacancy / Maint / Mgmt: −$475
• Net cashflow: $-566

Break-even live

Break-even rent $2,979

Max offer price $198,017

Occupancy floor —

Sensitivity live

Price	-10% $-397	-5% $-482	+0% $-566	+5% $-650	+10% $-735
Rent	-10% $-745	-5% $-655	+0% $-566	+5% $-477	+10% $-387
Rate	-1.0pp $-416	-0.5pp $-490	base $-566	+0.5pp $-643	+1.0pp $-722

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: $74,500
• Closing costs: $8,940
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
17112 NE 45th St #55 Redmond, WA	2.0	2.0	974	$2,885	$2.96	15d	1	0.02mi
17106 NE 45th St #10 Redmond, WA	1.0	1.0	767	$1,799	$2.35	44d	1	0.04mi
17108 NE 45th St Redmond, WA	2.0	2.0	974	$2,500	$2.57	25d	1	0.04mi
17301 NE 45th St #88 Redmond, WA	1.0	1.0	712	$2,300	$3.23	44d	1	0.07mi
4250 W Lake Sammamish Pkwy NE Redmond, WA	1.0–2.0	1.0–2.0	825	$2,065	$2.50	3d	10	0.16mi
3834 175th Ave NE #23 Redmond, WA	1.0	1.0	650	$3,000	$4.62	44d	1	0.47mi
16539 NE 35th Ct Redmond, WA	1.0–3.0	1.0–2.0	818	$1,979	$2.42	0d	11	0.64mi
15606 NE 40th St Redmond, WA	1.0–3.0	1.0–2.0	964	$1,992	$2.07	3d	1	0.88mi
15606 NE 40th St Bldg Z Redmond, WA	1.0	1.0	664	$3,120	$4.70	21d	1	0.98mi
6335 180th Pl NE Redmond, WA	2.0	1.0–2.0	775	$2,820	$3.64	2d	8	1.01mi
17305 NE 67th Ct Redmond, WA	1.0–2.0	1.0–2.0	858	$2,140	$2.49	5d	15	1.01mi
5985 185th Ct NE Unit 1-101 Redmond, WA	2.0	1.0	941	$2,450	$2.60	44d	1	1.04mi
15602 NE 40th St Redmond, WA	3.0	1.0–2.0	935	$2,738	$2.93	0d	1	1.04mi
6180 E Lake Sammamish Pkwy NE Redmond, WA	2.0	1.0–2.0	899	$3,046	$3.39	3d	4	1.04mi
17565 NE 67th Ct Redmond, WA	1.0–2.0	1.0–2.0	850	$2,326	$2.73	5d	9	1.06mi
6332 E Lake Sammamish Pkwy NE Redmond, WA	1.0–3.0	1.0–2.0	1079	$2,091	$1.94	3d	13	1.09mi
17620 NE 69th Ct Redmond, WA	1.0–3.0	1.0–2.0	994	$2,120	$2.13	5d	20	1.19mi
17645 NE 69th Ct Unit 1009 Redmond, WA	1.0	1.0	641	$1,820	$2.84	44d	1	1.19mi
6110 186th Pl NE Redmond, WA	1.0–2.0	1.0–2.0	812	$1,989	$2.45	2d	14	1.20mi
18666 Redmond Way Redmond, WA	1.0–2.0	1.0–2.0	805	$1,889	$2.35	2d	16	1.23mi
6205 188th Ln NE Redmond, WA	1.0–3.0	1.0–2.0	1042	$2,190	$2.10	2d	11	1.35mi
7405 168th Ave NE Redmond, WA	2.0	1.0–2.0	984	$3,244	$3.30	5d	8	1.44mi
15551 NE Turing St Redmond, WA	2.0	1.0–2.0	868	$2,726	$3.14	0d	34	1.47mi

HOA detail condo

• Monthly dues: $447 · $5,364/yr
• Likely covers: waterpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 27 events

1. 2026-06-21
   days on market $298,000 Active 12 DOM
2. 2026-06-18
   days on market $298,000 Active 9 DOM
3. 2026-06-17
   days on market $298,000 Active 8 DOM
4. 2026-06-16
   days on market $298,000 Active 7 DOM
5. 2026-06-15
   days on market $298,000 Active 6 DOM
6. 2026-06-13
   days on market $298,000 Active 4 DOM
7. 2026-06-10
   pricedays on marketlisting id $298,000 Active 1 DOM
8. 2026-06-09
   days on market $325,000 Active 32 DOM
9. 2026-06-08
   days on market $325,000 Active 31 DOM
10. 2026-06-07
    days on market $325,000 Active 30 DOM
11. 2026-06-04
    days on market $325,000 Active 27 DOM
12. 2026-06-03
    days on market $325,000 Active 26 DOM
13. 2026-06-02
    days on market $325,000 Active 25 DOM
14. 2026-06-01
    days on market $325,000 Active 24 DOM
15. 2026-05-31
    days on market $325,000 Active 23 DOM
16. 2026-05-08
    listed $325,000 Active
17. 2026-03-03
    historical $1,995
18. 2026-03-03
    listed $1,995
19. 2026-02-25
    historical $2,195
20. 2026-02-25
    listed $2,195
21. 2026-02-18
    historical $2,395
22. 2026-02-17
    listed $2,395
23. 2025-02-15
    historical $2,295
24. 2025-01-31
    listed $2,295
25. 1999-04-21
    soldstatus $90,000
26. 1992-08-26
    soldstatus $51,500
27. 1979-09-25
    soldstatus $36,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast WA · Resets to sale price

• Current annual tax: $2,632 · $219/mo
• Projected year-2 tax: $2,920 · $243/mo
• Expected delta: +$289/yr (+$24/mo · 11.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 24% 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 9 unhealthy d/yr today · 11 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,148
• − Mortgage interest: −$16,693
• − Property taxes: −$2,632
• − Insurance: −$1,490
• − Repairs & maintenance: −$2,172
• − Management: −$2,172
• − HOA: −$5,364
• − Depreciation: −$8,669
• Taxable loss: −$12,043
• Est. tax savings @ 24.0%: +$2,890
• After-tax cash flow: $-3,901/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: Lake Washington School District
• NCES district ID: 5304230
• Math proficiency: 79% ▬ 0.00%
• Reading proficiency: 85% ▲ 1.00%
• Median HH income: $103,849
• Composite: 75.15/100
• National rank: #251
• State rank: #3 of 291 in WA

Livability — Redmond

• Score: 88/100
• State rank: #10
• US rank: #186

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Redmond, WA
• County: King County · 2,251,916 people
• City population: 103,482
• Metro: Seattle-Tacoma-Bellevue, WA
• Population (ZIP): 80,717
• Household income: $163,460
• Rent vs Own: 55.2% rent · 44.8% own
• Severe rent burden: 3044.0

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 0.62)
• Race & ethnicity: White 47% Asian 38% Two or more races 7% Hispanic / Latino 7% Black 2%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Portuguese 2% Italian 2% Scotch-Irish 2%
• Foreign-born: 44% · China, Canada, South Korea
• Languages at home: 53% English-only · Other Asian/Pacific 11% Chinese 10% Other Indo-European 10%

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: ▼ -1157.66%
• Current HPI: 434.1949
• Rent YoY: ▲ 0.65%
• 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

+727.8% since first listed

12 events — show timeline

• 2026-06-09 Listed $298,000 NWMLS as Distributed by MLS Grid
• 2026-03-03 Rental Removed $1,995 BUILDIUM
• 2026-03-03 Listed for Rent $1,995 BUILDIUM
• 2026-02-25 Rental Removed $2,195 BUILDIUM
• 2026-02-25 Listed for Rent $2,195 BUILDIUM
• 2026-02-18 Rental Removed $2,395 BUILDIUM
• 2026-02-17 Listed for Rent $2,395 BUILDIUM
• 2025-02-15 Rental Removed $2,295 BUILDIUM
• 2025-01-31 Listed for Rent $2,295 BUILDIUM
• 1999-04-21 Sold (Public Records) $90,000 Public Records
• 1992-08-26 Sold (Public Records) $51,500 Public Records
• 1979-09-25 Sold (Public Records) $36,000 Public Records

Property tax history

+4.0%/yr

Latest (2025): $2,632 · -10.8% YoY. Source: county tax records.