7-Plex
2109 W Raye St · Seattle, WA
Flood risk 1/10 · Minimal
- FEMA flood zone
- X (unshaded)
- Chance of flooding over 30 yrs
- 0.0%
- Est. flood insurance / yr
- $507 – $1,088
Fire risk 1/10 · Minimal
- Est. fire insurance / yr
- $604 – $1,122
Heat risk 3/10 · Minor
- Hot days now (above 86°F)
- 7 days/yr
- Hot days in 30 yrs
- 15 days/yr
Wind risk 1/10 · Minimal
- Chance of severe wind over 30 yrs
- —
Air-quality risk 7/10 · Major
- Unhealthy air days now
- 11 days/yr
- Unhealthy air days in 30 yrs
- 12 days/yr
Risk factors via First Street. Map © Google.
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 +11.9/15.0
- Cash flow +9.7/30.0
- Schools +6.1/10.0
- Livability +3.8/5.0
- Rent growth +3.6/5.0
- 1% rule +2.8/10.0
- DSCR +2.7/10.0
- Condition / age +2.2/5.0
- Appreciation +0.0/10.0
$1,300,000
🖨 Deal sheet (PDF) 📄 Offer letter ✓ Due diligence
Multi-family units
County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 7 units. confirmed
5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.
Listing remarks
7-unit apartment building (6 units + 1 non-conforming) located in Seattle’s highly desirable Magnolia neighborhood. The property sits on an oversized 11,000 square foot LR3 (M) zoned lot, offering investors a rare combination of significant operational upside, long-term redevelopment optionality, and premium location fundamentals. The asset is currently 48% below market rents and 76% below renovated market rents, creating immediate and meaningful upside through a systematic renovation and lease-up strategy. Investors can capitalize on strong in-place demand while preserving future development flexibility under favorable zoning.
Key facts
- Oversized lot
- Favorable zoning
- 0.25 acre lot
Tags
Neighborhood map
What this means for you Summary
Snapshot
- This is a 7 × 1-bed/7.0-bath units multifamily listed at $1.30M. Condition is rated fair.
- This rent per unit is only 10% of the median local income ($181k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.
Deal economics
- At list price, monthly cash flow is $-859 ($-10k/yr) — negative. Per door: $-123/mo.
- To cash-flow at today's rent, offer at most $1.15M (11.7% below list).
- To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $1.01M (22.0% below list).
- Recommended offer: $1.01M (22.0% below list) — sets the bar for 1% rule.
- Cap rate 5.5% vs local median 1.7% in Seattle — 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 75/100 on livability (#166 in WA, #4,033 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, employment A+; Watch: crime F, cost of living F.
- Seattle Public Schools (urban): math 64% / reading 72% proficiency, ranked #19 of 291 in WA (top 6%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
- Zoned schools: Magnolia Elementary School (319 students, 12% FRL); Mcclure Middle School (429 students, 19% FRL); Ballard High School (1,590 students, 12% FRL) — zoned schools average 14% FRL vs 30% district-wide (16 pts lower); this property's tenant base skews higher-income than the district average.
- Market conditions: Rents rising fast (+4.3%/yr); 260 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 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 $9k of loan paydown is wiped out by about $39k 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
- It's been on market 51 days — a 3% lower offer ($1.26M) is reasonable based on typical stale-listing flexibility.
Risks & watch-outs
- Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.
Questions for the listing agent
- 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?
- It's been on market 51 days. Have you received any prior offers? Is the seller open to a 22% concession, seller financing, or rate buy-down credit?
- Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
- What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
- Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
- Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
- Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
- 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?
- 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?
- 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?
- 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.
- 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.
- 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
- 0.78% ✗
- Cap rate
- 5.50%
- Cash-on-cash
- -2.83%
- DSCR
- 0.87
- GRM
- 10.7
CMA / ARV
- ARV (median comp)
- $1,440,077
- List price
- $1,300,000
- Delta
- -9.73%
- Verdict
- FAIR
- Comps
- 20 within 1.0 mi
Show comp detail 12 sales within ~0.75 mi
| Address | Dist | Beds/Ba | Sqft | Sold | Price | $/sf | Match |
|---|---|---|---|---|---|---|---|
| 2109 W Raye St | 0.00mi | 9/7.0 | 3,409 (+27%) | 2mo | $800,000 | $235 | 73 |
| 3031 3033 21st Ave W | 0.33mi | 7/5.0 (-2) | 3,450 (+29%) | 19mo | $1,450,000 | $420 | 26 |
| 5638 3rd Ave NW | 2.22mi | 7/3.0 (-2) | 2,960 (+11%) | 5mo | $1,405,000 | $475 | 23 |
| 1524 Taylor Ave N | 1.91mi | 7/7.0 (-2) | 3,030 (+13%) | 35mo | $1,740,000 | $574 | 13 |
| 1526 Taylor Ave N | 1.90mi | 7/7.0 (-2) | 3,030 (+13%) | 36mo | $1,700,000 | $561 | 13 |
| 2929 28th Ave W | 0.53mi | 7/3.0 (-2) | 3,370 (+26%) | 50mo | $1,890,000 | $561 | 10 |
| 2025 NW 64th St | 2.24mi | 7/4.2 (-2) | 3,110 (+16%) | 13mo | $1,270,000 | $408 | 9 |
| 627 W Mercer Pl | 1.44mi | 7/4.0 (-2) | 2,344 (-12%) | 21mo | $1,125,000 | $480 | 6 |
| 5212 9th Ave NW | 1.82mi | 8/3.0 (-1) | 3,180 (+19%) | 17mo | $1,196,250 | $376 | 6 |
| 912 W Emerson St | 0.95mi | 8/2.0 (-1) | 2,070 (-23%) | 27mo | $1,100,000 | $531 | 0 |
| 2518 6th Ave W | 0.89mi | 7/3.0 (-2) | 3,121 (+17%) | 50mo | $1,598,000 | $512 | 0 |
| 906 W Emerson St | 0.95mi | 8/2.0 (-1) | 2,070 (-23%) | 56mo | $1,300,000 | $628 | 0 |
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 · 4.28% rent growth · sell at horizon
- IRR
- -19.6%
- Equity multiple
- 0.31×
- Total profit
- $-252,076
- Equity at exit
- $193,834
- IRR
- -10.0%
- Equity multiple
- 0.36×
- Total profit
- $-233,933
- Equity at exit
- $112,400
Cash invested: $364,000 (down + closing). Projections, not guarantees.
Landlord ↔ Tenant lean methodology
- Overall (CITY)
- 0 Strongly Tenant-Friendly
- State Washington
- 28 Tenant-Leaning · D+8
- County
- — inherits STATE
- City Seattle
- 0 Strongly Tenant-Friendly · D+52
ZIP-level market 98199
- Rents YoY
- 4.3%
- Active inventory
- 260
- Price-to-rent
- 74.8×
Monthly cashflow live
- Estimated rent
- $10,140 high interval (Pro) →
- Mortgage (P&I)
- −$6,817
- Tax from tax record
- −$1,511 /mo · $18,130/yr
- Insurance
- −$542
- HOA
- −$0
- Lot rent
- −$0
- Vacancy / Maint / Mgmt
- −$2,129
- Net cashflow
- $-859
7-unit breakdown (identical units grouped — click to expand)
| Units | Beds | Baths | Est. rent |
|---|---|---|---|
| 7× units | 1 | 7 | $10,143 |
| #1 | 1 | 7 | $1,449 |
| #2 | 1 | 7 | $1,449 |
| #3 | 1 | 7 | $1,449 |
| #4 | 1 | 7 | $1,449 |
| #5 | 1 | 7 | $1,449 |
| #6 | 1 | 7 | $1,449 |
| #7 | 1 | 7 | $1,449 |
| Total (7 units) | $10,140 | ||
Break-even live
Sensitivity live
| Price | -10% $-123 | -5% $-491 | +0% $-859 | +5% $-1,227 | +10% $-1,595 |
|---|---|---|---|---|---|
| Rent | -10% $-1,660 | -5% $-1,260 | +0% $-859 | +5% $-459 | +10% $-58 |
| Rate | -1.0pp $-205 | -0.5pp $-529 | base $-859 | +0.5pp $-1,196 | +1.0pp $-1,539 |
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
- $325,000
- Closing costs
- $39,000
- Club membership (one-time)
- —
- 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
| Address | Beds | Baths | Sqft | Rent | $/sqft | DOM | Units | Dist |
|---|---|---|---|---|---|---|---|---|
| 2562 Thorndyke Ave W #303 Seattle, WA | 2.0 | 2.0 | 1010 | $2,500 | $2.48 | 9d | 1 | 0.02mi |
| 2207 W Raye St Seattle, WA | 1.0–2.0 | 1.0–1.5 | 733 | $1,750 | $2.39 | 0d | 2 | 0.05mi |
| 2621 22nd Ave W Unit 2621 3 Seattle, WA | 2.0 | 1.0 | 1000 | $2,395 | $2.40 | 139d | 1 | 0.07mi |
| 2621 22nd Ave W Unit 2621 4 Seattle, WA | — | 1.0 | 350 | $1,195 | $3.41 | 31d | 1 | 0.07mi |
| 2621 22nd Ave W Unit 2617 3 Seattle, WA | 2.0 | 1.0 | 1000 | $2,495 | $2.50 | 54d | 1 | 0.07mi |
| 2517 Thorndyke Ave W Seattle, WA | 1.0 | 1.0 | 531 | $1,750 | $3.30 | 0d | 1 | 0.10mi |
| 2501 Thorndyke Ave W Unit 102 Seattle, WA | 2.0 | 1.0 | 700 | $1,995 | $2.85 | 92d | 1 | 0.14mi |
| 2501 Thorndyke Ave W Apt 105 Seattle, WA | 2.0 | 2.0 | 900 | $2,159 | $2.40 | 66d | 1 | 0.14mi |
| 2354 W Armour St Seattle, WA | 2.0 | 2.5 | 2000 | $4,500 | $2.25 | 0d | 1 | 0.19mi |
| 2839 Thorndyke Ave W #5 Seattle, WA | 2.0 | 1.0 | 800 | $1,995 | $2.49 | 139d | 1 | 0.20mi |
| 2839 Thorndyke Ave W Seattle, WA | 2.0 | 1.0 | 800 | $1,995 | $2.49 | 7d | 1 | 0.20mi |
| 2834 1/2 22nd Ave W Seattle, WA | 2.0 | 1.0 | 1290 | $1,895 | $1.47 | 110d | 1 | 0.22mi |
| 2000 W Barrett St #202 Seattle, WA | 1.0 | 1.0 | 740 | $2,100 | $2.84 | 89d | 1 | 0.28mi |
| 2000 W Barrett St #204 Seattle, WA | 1.0 | 1.0 | 748 | $2,395 | $3.20 | 28d | 1 | 0.28mi |
| 3021 21st Ave W Apt 102 Seattle, WA | 2.0 | 1.0 | 950 | $2,195 | $2.31 | 0d | 1 | 0.30mi |
| 2301 W Lynn St Apt 403 Seattle, WA | 1.0 | 1.0 | 750 | $1,895 | $2.53 | 0d | 1 | 0.31mi |
| 2200 Thorndyke Ave W #201 Seattle, WA | 2.0 | 1.0 | 792 | $2,850 | $3.60 | 0d | 1 | 0.34mi |
| 2119 23rd Ave W Seattle, WA | 2.0 | 2.0 | 872 | $2,595 | $2.98 | 0d | 1 | 0.35mi |
| 2315 W Boston St Seattle, WA | 1.0 | 1.0 | 676 | $1,525 | $2.26 | 0d | 1 | 0.36mi |
| 2015 W Dravus St Seattle, WA | 2.0 | 1.0–2.0 | 705 | $2,172 | $3.08 | 0d | 3 | 0.36mi |
| 2572 Gilman Dr W Seattle, WA | 2.0 | 1.0–2.0 | 1015 | $1,945 | $1.92 | 0d | 4 | 0.39mi |
| 2572 Gilman Dr W Seattle, WA | 2.0 | 1.0–2.0 | 800 | $2,022 | $2.53 | 34d | 5 | 0.39mi |
| 2110 W Dravus St Seattle, WA | 1.0 | 1.0 | 1300 | $2,695 | $2.07 | 139d | 1 | 0.39mi |
| 2530 15th Ave W #410 Seattle, WA | 2.0 | 1.0 | 801 | $2,250 | $2.81 | 0d | 1 | 0.39mi |
| 2411 W Boston St Unit A Seattle, WA | 1.0 | 1.0 | 973 | $2,900 | $2.98 | 17d | 1 | 0.39mi |
| 2411 W Boston St Unit C Seattle, WA | 2.0 | 2.0 | 1110 | $3,400 | $3.06 | 54d | 1 | 0.39mi |
| 1410 W Raye St Unit 302 Seattle, WA | 1.0 | 1.0 | 730 | $1,895 | $2.60 | 36d | 1 | 0.40mi |
| 1410 W Raye St Apt 104 Seattle, WA | 2.0 | 1.0 | 710 | $2,195 | $3.09 | 0d | 1 | 0.40mi |
| 1410 W Raye St Unit 304 Seattle, WA | 2.0 | 1.0 | 730 | $1,995 | $2.73 | 12d | 1 | 0.40mi |
| 1410 W Raye St Unit 001 Seattle, WA | — | 1.0 | 410 | $1,395 | $3.40 | 139d | 1 | 0.40mi |
| 2621 14th Ave W Apt 7 Seattle, WA | 1.0 | 1.0 | 864 | $2,200 | $2.55 | 139d | 1 | 0.41mi |
| 3213 21st Ave W Apt 3 Seattle, WA | 2.0 | 1.0 | 1278 | $2,450 | $1.92 | 21d | 1 | 0.41mi |
| 3213 21st Ave W Apt 1 Seattle, WA | 2.0 | 1.0 | 940 | $2,150 | $2.29 | 17d | 1 | 0.41mi |
| 3040 17th Ave W Seattle, WA | 2.0 | 1.0–2.0 | 759 | $2,477 | $3.26 | 0d | 12 | 0.41mi |
| 3212 21st Ave W Apt 301 Seattle, WA | 1.0 | 1.0 | 750 | $1,895 | $2.53 | 0d | 1 | 0.41mi |
| 2601 14th Ave W Seattle, WA | 1.0 | 1.0 | 800 | $1,900 | $2.38 | 0d | 1 | 0.41mi |
| 3008 16th Ave W Seattle, WA | 1.0 | 1.0 | 502 | $2,255 | $4.49 | 0d | 9 | 0.41mi |
| 2820 15th Ave W Apt 103 Seattle, WA | 1.0 | 1.0 | 675 | $1,400 | $2.07 | 102d | 1 | 0.42mi |
| 2633 14th Ave W Seattle, WA | 1.0 | 1.0 | 650 | $1,595 | $2.45 | 34d | 2 | 0.42mi |
| 2310 W Newton St Seattle, WA | 2.0 | 2.0 | 965 | $3,650 | $3.78 | 23d | 1 | 0.42mi |
Property features AI
Finance
- Other
- Seven total units (unit mix: two 2-bed units, five 1-bed units)Individual unit rents listed (ranges from $1,400 to $1,950)Unit sizes reported for each unit
- Financial info
- Listing terms: CashTotal scheduled annual income shownGross scheduled income: $145,756Gross adjusted income: $138,469Total monthly income reported: 12,146Total expenses reported: $55,000Insurance expense: $7,000Other expense: $18,079Net operating income: $83,468Gross rent multiplier: 8.92Vacancy rate shown: 5%
Exterior
- Parking
- Two covered parking spacesTwo carport spaces
- Utilities
- Sewer connectedElectric service
- Home design
- Multi-family residential income property5–9 units style (building contains 7 units)Two-story buildingPoured concrete foundationElectric energy source
- Construction
- Cement plank and wood constructionFlat roofBuilt on poured concrete foundation
- Exterior features
- Cement-planked and wood exteriorFlat roof
Interior
- Kitchen
- Range/oven in each unitRefrigerator in each unitMost units do not include a dishwasher
- Bedrooms
- Five 1-bedroom unitsTwo 2-bedroom units
- Flooring
- Vinyl flooringCarpet flooring
- Bathrooms
- Seven 1-bath units
- Heating & cooling
- Baseboard heatingNo central cooling
- Interior features
- Vinyl and carpet flooringBaseboard heating
- Laundry & utility
- One unit includes washer/dryer hookup or in-unit washer/dryerOther units do not include washer/dryer
Listing history 50 events
-
2026-07-29days on market $1,300,000 Active 51 DOM
-
2026-07-28days on market $1,300,000 Active 50 DOM
-
2026-07-27days on market $1,300,000 Active 49 DOM
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2026-07-26days on market $1,300,000 Active 48 DOM
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2026-07-25days on market $1,300,000 Active 47 DOM
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2026-07-24days on market $1,300,000 Active 46 DOM
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2026-07-23days on market $1,300,000 Active 45 DOM
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2026-07-22days on market $1,300,000 Active 44 DOM
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2026-07-21days on market $1,300,000 Active 43 DOM
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2026-07-20days on market $1,300,000 Active 42 DOM
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2026-07-18days on market $1,300,000 Active 40 DOM
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2026-07-17days on market $1,300,000 Active 39 DOM
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2026-07-16days on market $1,300,000 Active 38 DOM
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2026-07-15days on market $1,300,000 Active 37 DOM
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2026-07-14days on market $1,300,000 Active 36 DOM
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2026-07-13days on market $1,300,000 Active 35 DOM
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2026-07-12days on market $1,300,000 Active 34 DOM
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2026-07-11days on market $1,300,000 Active 33 DOM
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2026-07-10days on market $1,300,000 Active 32 DOM
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2026-07-09days on market $1,300,000 Active 31 DOM
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2026-07-08days on market $1,300,000 Active 30 DOM
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2026-07-07days on market $1,300,000 Active 29 DOM
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2026-07-06days on market $1,300,000 Active 28 DOM
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2026-07-05days on market $1,300,000 Active 27 DOM
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2026-07-04days on market $1,300,000 Active 26 DOM
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2026-07-03days on market $1,300,000 Active 25 DOM
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2026-07-02days on market $1,300,000 Active 24 DOM
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2026-07-01days on market $1,300,000 Active 23 DOM
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2026-06-30days on market $1,300,000 Active 22 DOM
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2026-06-29days on market $1,300,000 Active 21 DOM
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2026-06-28days on market $1,300,000 Active 20 DOM
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2026-06-27days on market $1,300,000 Active 19 DOM
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2026-06-26days on market $1,300,000 Active 18 DOM
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2026-06-26days on market $1,300,000 Active 17 DOM
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2026-06-24days on market $1,300,000 Active 16 DOM
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2026-06-23days on market $1,300,000 Active 15 DOM
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2026-06-22days on market $1,300,000 Active 14 DOM
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2026-06-21days on market $1,300,000 Active 13 DOM
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2026-06-21days on market $1,300,000 Active 12 DOM
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2026-06-19days on market $1,300,000 Active 11 DOM
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2026-06-18days on market $1,300,000 Active 10 DOM
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2026-06-17days on market $1,300,000 Active 9 DOM
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2026-06-16days on market $1,300,000 Active 8 DOM
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2026-06-15days on market $1,300,000 Active 7 DOM
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2026-06-15days on market $1,300,000 Active 6 DOM
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2026-06-13days on market $1,300,000 Active 5 DOM
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2026-06-12days on market $1,300,000 Active 4 DOM
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2026-06-10days on market $1,300,000 Active 2 DOM
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2026-06-08days on market $1,300,000 Active 1 DOM
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2026-05-31days on market $1,300,000 Active 96 DOM
ⓘ 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
- $18,130 · $1,511/mo
- Projected year-2 tax
- $18,130 · $1,511/mo
- Expected delta
- $0/yr ($0/mo · 0.0%)
ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.
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 11 unhealthy d/yr today · 12 by 30 yrs out
Nearby sold comps map
Loading sold comps map…
Walkable amenities ~0.75 mi
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Taxation est. · year 1
- Rental income
- $121,680
- − Mortgage interest
- −$72,820
- − Property taxes
- −$18,130
- − Insurance
- −$6,500
- − Repairs & maintenance
- −$9,734
- − Management
- −$9,734
- − Depreciation
- −$37,818
- Taxable loss
- −$33,058
- Est. tax savings @ 24.0%
- +$7,934
- After-tax cash flow
- $-2,377/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 · 9 photos
This multi-family property requires significant repairs and maintenance, including roof repair, exterior siding and paint, flooring replacement, and interior wall painting. These updates will improve the property's condition and increase its value.
Repairs flagged
- Major roof — The roof appears to be in poor condition, with visible wear and tear.
- Moderate exterior siding — The exterior siding and paint show signs of wear and discoloration.
- Major flooring — The flooring in the interior appears to be carpeted and in poor condition.
- Moderate interior walls — The interior walls appear to be in fair condition, with some discoloration visible.
- Moderate HVAC and mechanical systems — The HVAC and mechanical systems appear to be in fair condition, but further inspection is needed.
Value-add opportunities
- Both repair roof — Repairing the roof will improve the overall condition of the property and increase its value. ↑
- Both repair exterior siding and paint — Repairing the exterior siding and repainting will improve the curb appeal and increase the property's value. ↑
- Both replace flooring — Replacing the carpeted flooring with a more durable material will improve the interior condition and increase the property's value. ↑
- Both paint interior walls — Painting the interior walls will improve the appearance and increase the property's value. ↑
- Both service HVAC and mechanical systems — Servicing the HVAC and mechanical systems will ensure they are functioning properly and increase the property's value. ↑
ⓘ Rehab cost is a screening estimate — Moderate 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
Schools (NCES district)
- District
- Seattle Public Schools
- NCES district ID
- 5307710
- Math proficiency
- 64% ▼ -1.00%
- Reading proficiency
- 72% ▬ 0.00%
- Median HH income
- $68,695
- Composite
- 60.76/100
- National rank
- #1649
- State rank
- #19 of 291 in WA
Livability — Seattle
- Score
- 75/100
- State rank
- #166
- US rank
- #4033
Category grades
Schools grade is shown separately in the Schools card above.
Census & demographics
- Census place
- Seattle, WA
- County
- King County · 2,576,485 people
- City population
- 706,262
- Metro
- Seattle-Tacoma-Bellevue, WA
- Population (ZIP)
- 22,468
- Household income
- $180,789
- Rent vs Own
- Severe rent burden
- 7% 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
- Predominantly White (73%)
- Race & ethnicity
- White 73% Asian 12% Two or more races 8% Hispanic / Latino 6% Black 2%
- Hispanic origin (detail)
- Mexican 4%
- Common ancestry
- Italian 4% Portuguese 4% Lithuanian 4%
- Foreign-born
- 14% · China, Canada, Vietnam
- Languages at home
- 84% English-only · Other Indo-European 5% Chinese 3% Spanish 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
- ▼ -1534.61%
- Current HPI
- 306.6426
- Rent YoY
- ▲ 4.28%
- 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 |
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| Technology / Retail | 1 | $638B |
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| Technology | 1 | $245B |
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| Telecommunications | 1 | $38B |
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| Food / Beverage | 1 | $36B |
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| Automotive / Trucks | 1 | $34B |
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Price history
1 event — show timeline
- 2026-06-08 Listed $1,300,000 NWMLS as Distributed by MLS Grid
Property tax history
+3.8%/yrLatest (2026): $18,130 · +7.6% YoY. Source: county tax records.
Cash-flow waterfall
monthlySold comps — $/sqft
last 12 mo · ≤1 miLoading sold comps…