201 Union Ave SE #93 · Renton, WA 98059

$75,000

2 bd · 2.0 ba · 1,248 sqft · Manufactured · 14 Days on market

Built 1979 Fair condition

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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 +7.5/15.0
• Schools +4.7/10.0
• Livability +4.2/5.0
• Rent growth +2.6/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

Perfect location in Leisure Estates, a 55+ manufactured home community in the Renton Highlands. You will love the features of this 1248 sq. ft. home. First of all, it's located in a perfect spot in the park. Close to the clubhouse on the upper hill side . . . only a short walk down the path to get your mail or swim in the pool! The home offers 2 bedrooms and 1.75 bathrooms. The primary bedroom has a walk-in closet and additional storage. You will enjoy the convenience of stepping outside the slider from the primary bedroom to the private patio out back. What a relaxing way to enjoy your morning coffee. The home offers vaulted ceilings allowing for a larger feel, and vinyl windows for effici

Key facts

• Vinyl windows
• Huge shop
• Private patio

Tags

• PRIVATE PATIO
• HUGE SHOP
• VAULTED CEILINGS
• VINYL WINDOWS

Property features AI

Finance

• Other: Buyer brokerage compensation: 3%
• Financial info: Listing terms: Cash; Land lease amount: $1,485
• HOA & community: Located in Leisure Estates manufactured home park; Park approved for sale; Senior community; Park amenities: clubhouse, exercise room, golf, pool, recreational area, RV parking, sauna, security gate, sidewalks, spa/hot tub; Approximately 254 homes in the park; Bus line nearby; Land lease payment not included here

Exterior

• Parking: Carport
• Security: Security gate (community)
• Utilities: Public water; City of Renton water service; City of Renton sewer service; PSE power; Electric energy source; Water heater in outside closet
• Home design: Manufactured double-wide home; One story; Double wide layout; Entry level information not specified; Facing direction not specified
• Construction: Metal/Vinyl construction materials; Composition roof; Manufactured after 6/15/1976
• Exterior features: Patio/porch/deck; Landscaped; Metal/vinyl exterior; Has view; Spa/Hot Tub (community amenity)

Interior

• Kitchen: Disposal; Refrigerator; Stove/Range
• Bedrooms: 2 bedrooms
• Flooring: Laminate; Vinyl; Carpet
• Bathrooms: 1 full bath; 1 three-quarter bath; 1 bathtub; 1 shower
• Heating & cooling: Ductless heating; Forced air heating; Has cooling
• Interior features: Vaulted ceilings; Walk-in closet; Dining room; Living room; Kitchen with eating space; Utility room; Electric fireplace
• Laundry & utility: Washer; Dryer; Utility room

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $75k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $75k).
• Cap rate 29.0% 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.
• Market conditions: Rents flat; 255 active listings in the ZIP; 24 comparable units currently listed for rent nearby; rentals leasing fast (median 12d 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $519 of loan paydown is wiped out by about $2k 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 $21k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 21y 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 $55k; 36% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $75,000

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1979 — 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. 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?
5. 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?
6. 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.
7. 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.
8. 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: 3.27% ✓
• Cap rate: 28.98%
• Cash-on-cash: 81.04%
• DSCR: 4.61
• GRM: 2.5

CMA / ARV

• ARV (on-the-fly): $172,224
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
201 Union Ave SE #217	0.00mi	2/2.0	1,248 (0%)	2mo	$110,000	$88	98
201 Union Ave SE #235	0.00mi	2/2.0	1,248 (0%)	12mo	$148,950	$119	90
201 Union Ave SE #155	0.22mi	2/2.0	1,248 (0%)	1mo	$175,000	$140	89
201 Union Ave SE #112	0.01mi	2/2.0	1,339 (+7%)	2mo	$86,000	$64	86
201 Union Ave SE #247	0.00mi	2/2.0	1,344 (+8%)	5mo	$175,000	$130	83
375 Union Ave SE #61	0.19mi	2/2.0	1,300 (+4%)	4mo	$180,000	$138	80
201 Union Ave SE #136	0.00mi	2/2.0	1,152 (-8%)	11mo	$125,000	$109	78
375 Union Ave SE #136	0.10mi	3/2.0 (+1)	1,344 (+8%)	0mo	$192,448	$143	77
201 Union Ave SE #249	0.22mi	2/2.0	1,344 (+8%)	4mo	$185,500	$138	74
201 Union Ave SE #231	0.04mi	3/2.0 (+1)	1,344 (+8%)	14mo	$140,000	$104	69
375 Union Ave SE #97	0.10mi	3/2.0 (+1)	1,344 (+8%)	10mo	$237,900	$177	69
375 Union Ave SE #62	0.10mi	2/1.5	1,120 (-10%)	13mo	$175,000	$156	65

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: 78.2%
• Equity multiple: 4.41×
• Total profit: $71,704
• Equity at exit: $11,183

10-year hold

• IRR: 81.0%
• Equity multiple: 8.31×
• Total profit: $153,606
• Equity at exit: $6,485

Cash invested: $21,000 (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 98059

• Rents YoY: 0.3%
• Active inventory: 255
• Price-to-rent: 2.5×

Monthly cashflow live

• Estimated rent: $2,451 high
• Mortgage (P&I): −$393
• Tax est. 1.5%: −$94 /mo · $1,125/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$515
• Net cashflow: $1,418

Break-even live

Break-even rent $656

Max offer price $75,000

Occupancy floor 37%

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Rent comps 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4214 SE 1st Pl Renton, WA	3.0	1.0	950	$2,950	$3.11	24d	1	0.17mi
3815 NE 4th St Renton, WA	2.0	1.0	666	$2,199	$3.30	2d	22	0.49mi
3788 NE 4th St Renton, WA	1.0–2.0	1.0–2.0	701	$1,904	$2.72	1d	8	0.67mi
4231 NE 5th St Unit D203 Renton, WA	2.0	2.0	1025	$2,200	$2.15	10d	1	0.67mi
4415 NE 5th St Renton, WA	1.0–3.0	1.0–2.0	923	$2,370	$2.57	1d	10	0.76mi
5027 NE 5th Pl Renton, WA	3.0	2.5	1287	$3,300	$2.56	23d	1	0.91mi
2904 SE 8th St #2128 Renton, WA	2.0	2.0	1046	$2,450	$2.34	43d	1	0.92mi
650 Duvall Ave NE Renton, WA	1.0–2.0	1.0–2.0	849	$2,427	$2.86	3d	12	0.92mi
15205 140th Way SE Renton, WA	1.0–3.0	1.0–2.0	1121	$2,960	$2.64	1d	10	0.97mi
2511 NE 4th St Renton, WA	2.0	1.5	1008	$1,900	$1.88	2d	1	1.10mi
3507 NE 8th St Renton, WA	3.0	1.0	960	$2,650	$2.76	18d	1	1.10mi
653 Index Pl NE Renton, WA	2.0	1.0	720	$2,395	$3.33	24d	1	1.12mi
2307 NE 4th St Renton, WA	1.0–2.0	1.0–2.0	740	$2,259	$3.05	1d	14	1.14mi
802 Harrington Ave NE Renton, WA	2.0	1.0	828	$1,750	$2.11	3d	1	1.26mi
270 Bronson Way NE Unit The Hampton H22 Renton, WA	2.0	1.0	1000	$2,250	$2.25	43d	1	1.34mi
330 Vuemont Pl NE Renton, WA	2.0	1.0	791	$1,962	$2.48	5d	7	1.37mi
950 Harrington Ave NE Renton, WA	1.0–2.0	1.0–2.0	868	$2,853	$3.29	1d	11	1.40mi
351 Vuemont Pl NE Renton, WA	1.0–2.0	1.0–1.5	755	$1,750	$2.32	12d	3	1.41mi
913 Harrington Ave NE Renton, WA	2.0	1.0	751	$1,895	$2.52	3d	3	1.43mi
913 Harrington Ave NE Unit 1 Renton, WA	1.0	1.0	700	$1,710	$2.44	11d	1	1.43mi
913 Harrington Ave NE Unit 6 Renton, WA	2.0	1.0	770	$1,860	$2.42	11d	1	1.43mi
913 Harrington Ave NE Apt 3 Renton, WA	2.0	1.0	800	$1,930	$2.41	11d	1	1.43mi
1013 Kirkland Ave NE Unit 3 Renton, WA	2.0	1.5	700	$1,750	$2.50	24d	1	1.44mi
906 Glennwood Ave NE Renton, WA	2.0	1.0	850	$1,595	$1.88	24d	1	1.44mi

Listing history 10 events

1. 2026-06-18
   days on market $75,000 Active 14 DOM
2. 2026-06-17
   days on market $75,000 Active 13 DOM
3. 2026-06-16
   days on market $75,000 Active 12 DOM
4. 2026-06-15
   days on market $75,000 Active 11 DOM
5. 2026-06-13
   days on market $75,000 Active 9 DOM
6. 2026-06-13
   days on market $75,000 Active 8 DOM
7. 2026-06-09
   days on market $75,000 Active 5 DOM
8. 2026-06-08
   days on market $75,000 Active 4 DOM
9. 2026-06-07
   remarks 699-char remark
10. 2026-06-07
    listed $75,000 Active 3 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

Taxation est. · year 1

• Rental income: $29,416
• − Mortgage interest: −$4,201
• − Property taxes: −$1,125
• − Insurance: −$375
• − Repairs & maintenance: −$2,353
• − Management: −$2,353
• − Depreciation: −$2,182
• Taxable income: $16,826
• Est. tax owed @ 24.0%: −$4,038
• After-tax cash flow: $12,981/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

Fair 45/100 Moderate rehab

This manufactured home requires moderate repairs and maintenance to improve its condition and value. Painting the exterior and replacing the carpet would significantly enhance its curb appeal and resale potential.

Repairs flagged

• Minor exterior siding — Some discoloration
• Minor interior paint — Some wear

Value-add opportunities

• Both paint exterior — Enhances curb appeal and resale value
• Both replace carpet — Improves comfort and resale value

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · Some discoloration	Minor	$500–3,000
interior paint · Some wear	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Both paint exterior — Enhances curb appeal and resale value ↑
• Both replace carpet — Improves comfort and resale 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: 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

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 · 2,251,916 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: 908.0

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 0.68)
• 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: —

Market trends

• HPI YoY: ▼ -920.66%
• Current HPI: 338.4495
• Rent YoY: ▲ 0.29%
• 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

+25.0% since first listed

3 events — show timeline

• 2026-06-04 Listed $75,000 NWMLS as Distributed by MLS Grid
• 2005-04-21 Sold (MLS) $55,000 NWMLS as Distributed by MLS Grid
• 2005-04-06 Listed $59,990 NWMLS as Distributed by MLS Grid