210 37th St SE #144 · Auburn, WA 98002

$135,000

3 bd · 2.0 ba · 1,300 sqft · Manufactured · 60 Days on market

Built 1973 Good condition Est $156k · 13% under

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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
• ARV discount +13.6/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.7/10.0
• Livability +4.0/5.0
• Condition / age +3.8/5.0
• Rent growth +2.9/5.0
• Appreciation +0.0/10.0

Listing remarks

Come see this Gem, that offers everything you're looking for! Freshly painted, remodeled, and updated! Enjoy a kitchen with new cabinets countertops and charcoal Stainless Steel appliances! Generous sized rooms, and a master suite that will meet all your needs! All ages Auburn Manor Mobile Home Park enjoys a sense of community and offers incredible amenities. Indoor pool, BBQs, fitness center, playground, clubhouse, billiard table, sports court; special events kitchen is available for members to rent for gatherings. This is the home you've been waiting for!!

Key facts

• Fitness center
• Clubhouse
• Billiard table

Tags

• KITCHEN WITH NEW CABINETS
• INDOOR POOL
• FITNESS CENTER
• PLAYGROUND
• CLUBHOUSE
• BILLIARD TABLE

Property features AI

Finance

• Other: Property type: Residential - Manufactured Home; Double wide unit; Calculated building area: 1300; Taxes: $250 (2024)
• Financial info: Land lease: $1,285; Acceptable financing: Cash, Conventional, FHA
• HOA & community: Manufactured home park amenities include: BBQs, common area, exercise room, high-speed internet available, recreational area; Park approved for sale; Pets: see remarks

Exterior

• Utilities: Electric energy source; Public water
• Home design: Manufactured double-wide home; One story; Entry level: One
• Construction: Metal/vinyl construction; Composition roof; Tie down foundation; Manufactured house structure
• Exterior features: Metal/vinyl exterior; Paved lot; Sidewalks; Has view

Interior

• Kitchen: Dishwasher; Garbage disposal; Microwave; Refrigerator
• Bedrooms: 3 bedrooms
• Flooring: Vinyl plank flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Forced air cooling
• Interior features: Dishwasher; Garbage disposal; Microwave; Refrigerator; Has heating; Has cooling

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $135k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $929 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $135k).
• Recommended offer: $131k (3.0% below list) — sets the bar for market timing.
• Cap rate 14.5% 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; 17 comparable units currently listed for rent nearby; rentals leasing fast (median 4d 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).
• This rent runs 36% of the median local income ($79k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $933 of loan paydown is wiped out by about $4k 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 $38k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 60 days — a 3% lower offer ($131k) is reasonable based on typical stale-listing flexibility.

Recommended offer $130,950 (3.0% below list)

Questions for the listing agent

1. It's been on market 60 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.75% ✓
• Cap rate: 14.55%
• Cash-on-cash: 29.48%
• DSCR: 2.31
• GRM: 4.8

CMA / ARV

• ARV (on-the-fly): $156,000
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
210 37th St SE #130	0.14mi	3/2.0	1,248 (-4%)	2mo	$150,000	$120	86
401 37th St SE #104	0.20mi	4/2.0 (+1)	1,248 (-4%)	0mo	$180,000	$144	78
607 37th St SE #81	0.29mi	4/2.0 (+1)	1,296 (-0%)	5mo	$115,000	$89	77
602 29th St SE #39	0.56mi	3/2.0	1,232 (-5%)	6mo	$155,000	$126	60
3225 M St SE #145	0.60mi	3/2.0	1,254 (-4%)	7mo	$105,000	$84	60
607 37th St SE #77	0.29mi	3/2.0	1,120 (-14%)	4mo	$135,000	$121	60
3225 M St SE #144	0.71mi	3/2.0	1,248 (-4%)	3mo	$155,000	$124	58
602 29th St SE #54	0.61mi	3/2.0	1,232 (-5%)	6mo	$55,000	$45	58
707 37th St SE #71	0.32mi	4/2.0 (+1)	1,440 (+11%)	6mo	$160,000	$111	58
707 37th St SE #73	0.32mi	2/2.0 (-1)	1,152 (-11%)	9mo	$130,000	$113	54
2902 B St SE	0.63mi	3/2.0	1,152 (-11%)	4mo	$312,500	$271	48
900 29th St SE Unit E-22	0.66mi	3/2.0	1,440 (+11%)	8mo	$50,000	$35	45

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: 22.3%
• Equity multiple: 1.89×
• Total profit: $33,817
• Equity at exit: $20,129

10-year hold

• IRR: 29.3%
• Equity multiple: 3.43×
• Total profit: $91,880
• Equity at exit: $11,672

Cash invested: $37,800 (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: 4.8×

Monthly cashflow live

• Estimated rent: $2,356 high
• Mortgage (P&I): −$708
• Tax est. 1.5%: −$169 /mo · $2,025/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$495
• Net cashflow: $929

Break-even live

Break-even rent $1,181

Max offer price $135,000

Occupancy floor 56%

Sensitivity live

Price	-10% $1,022	-5% $975	+0% $929	+5% $882	+10% $835
Rent	-10% $742	-5% $835	+0% $929	+5% $1,022	+10% $1,115
Rate	-1.0pp $997	-0.5pp $963	base $929	+0.5pp $894	+1.0pp $858

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1014 37th St SE Apt 4 Auburn, WA	2.0	2.0	1005	$1,780	$1.77	6d	1	0.48mi
4704 Mill Pond Dr SE #213 Auburn, WA	2.0	2.0	1142	$2,750	$2.41	3d	1	0.53mi
703 47th St SE Auburn, WA	2.0	1.0–2.0	781	$1,970	$2.52	2d	7	0.59mi
4716 Mill Pond Dr SE Apt 1001 Auburn, WA	3.0	2.5	1673	$2,900	$1.73	12d	1	0.59mi
345 Pacific Ave N Pacific, WA	1.0–3.0	1.0–2.0	898	$2,306	$2.57	0d	10	0.65mi
404 27th St SE Unit 19-1 Auburn, WA	2.0	1.0	1000	$1,750	$1.75	13d	1	0.72mi
2952 O St SE Unit F Auburn, WA	2.0	1.0	1051	$1,495	$1.42	3d	1	0.88mi
2455 F St SE Auburn, WA	1.0–3.0	1.0–2.0	757	$1,955	$2.58	3d	6	0.90mi
102 Hawthorne Ave S Pacific, WA	3.0	1.0	1285	$2,950	$2.30	0d	1	0.93mi
1526 29th St SE Auburn, WA	2.0	1.0	912	$1,595	$1.75	25d	1	0.94mi
508 4th Ave SE Pacific, WA	2.0	1.0	885	$2,100	$2.37	25d	1	1.11mi
418 17th St SE Unit 6C Auburn, WA	2.0	2.0	1219	$2,200	$1.80	25d	1	1.26mi
5909 Panorama Dr SE Unit 11-103 Auburn, WA	2.0	2.5	1727	$2,750	$1.59	44d	1	1.34mi
1910 N Ct SE Auburn, WA	3.0	2.0	1570	$2,900	$1.85	12d	1	1.36mi
6170 Terrace View Ln SE Auburn, WA	1.0–3.0	1.0–2.0	956	$2,551	$2.67	0d	36	1.41mi
110 2nd Ave S Algona, WA	3.0	2.0	1530	$3,600	$2.35	0d	1	1.43mi
6106 Alexander Ave SE Auburn, WA	3.0	2.5	1541	$2,800	$1.82	0d	1	1.47mi

Listing history 16 events

1. 2026-06-21
   days on market $135,000 Active 60 DOM
2. 2026-06-18
   days on market $135,000 Active 57 DOM
3. 2026-06-17
   days on market $135,000 Active 56 DOM
4. 2026-06-16
   days on market $135,000 Active 55 DOM
5. 2026-06-15
   days on market $135,000 Active 54 DOM
6. 2026-06-13
   days on market $135,000 Active 52 DOM
7. 2026-06-13
   days on market $135,000 Active 51 DOM
8. 2026-06-09
   days on market $135,000 Active 48 DOM
9. 2026-06-08
   days on market $135,000 Active 47 DOM
10. 2026-06-07
    days on market $135,000 Active 46 DOM
11. 2026-06-04
    days on market $135,000 Active 43 DOM
12. 2026-06-03
    days on market $135,000 Active 42 DOM
13. 2026-06-02
    days on market $135,000 Active 41 DOM
14. 2026-06-01
    days on market $135,000 Active 40 DOM
15. 2026-05-31
    days on market $135,000 Active 39 DOM
16. 2026-04-22
    listed $135,000 Active

ⓘ 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: $28,276
• − Mortgage interest: −$7,562
• − Property taxes: −$2,025
• − Insurance: −$675
• − Repairs & maintenance: −$2,262
• − Management: −$2,262
• − Depreciation: −$3,927
• Taxable income: $9,562
• Est. tax owed @ 24.0%: −$2,295
• After-tax cash flow: $8,847/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

This mobile home is in good condition with recent updates, making it a great investment for both resale and rental purposes.

Value-add opportunities

• Both paint exterior — enhances curb appeal and resale value
• Both trim landscaping — improves curb appeal and rental value

Renovation cost estimate screening

Value-add ROI direction

• Both paint exterior — enhances curb appeal and resale value ↑
• Both trim landscaping — improves curb appeal and rental value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

1 event — show timeline

• 2026-04-22 Listed $135,000 NWMLS as Distributed by MLS Grid