3248 S 180th Pl #34 · SeaTac, WA 98188

$34,900

1 bd · 1.0 ba · 550 sqft · Manufactured

Manufactured home 55+ age-restricted Built 1961 Fair condition $63/sqft · 49% below area Est $68k · 49% under ↓ 11% since listing

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Why this score? — see what drove the C+ 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 +22.5/30.0
• ARV discount +15.0/15.0
• 1% rule +7.5/10.0
• DSCR +7.5/10.0
• Schools +3.9/10.0
• Livability +3.9/5.0
• Appreciation +2.5/10.0
• Rent growth +2.3/5.0
• Condition / age +2.2/5.0
• Manufactured-home adj. -5.4

Listing remarks

Buyer Bonus! 3-months paid rent included. Come see this adorable singlewide for sale at Bow Lake (55+) This 1961 singlewide has a lot to offer. 1 bedroom / 1 full bathroom at 550 sq. ft. Enjoy a large living room, large bedroom, and a kitchen with plenty of storage. The back has a private feel with plenty of space to make your own. Beautiful landscaping out front, a large storage shed, a covered back patio, and covered parking. Bow Lake is a wonderful community with amazing amenities including a pool and secured access! Come make it yours!

Key facts

• Covered parking
• Large living room
• Covered back patio

Tags

• LARGE LIVING ROOM
• KITCHEN WITH PLENTY OF STORAGE
• LARGE STORAGE SHED
• COVERED BACK PATIO
• COVERED PARKING

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath manufactured listed at $35k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $754 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $35k).
• Cap rate 32.2% vs local median 2.9% in SeaTac — 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 78/100 on livability (#118 in WA, #2,417 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, health & safety A+; Watch: crime F, cost of living F.
• Highline School District (suburban): math 36% / reading 49% proficiency, ranked #200 of 291 in WA (top 69%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Bow Lake Elementary (500 students, 80% FRL); Chinook Middle School (599 students, 78% FRL); Raisbeck Aviation High School (405 students, 31% FRL) — zoned schools at 63% FRL track the district average.
• Market conditions: Rents soft (-0.7%/yr); 168 active listings in the ZIP; 25 comparable units currently listed for rent nearby; rentals lingering (median 47d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 56% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 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 $241 of loan paydown is wiped out by about $1k 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 + 0.0% rent growth), your $10k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts; this cycle's ask has dropped $4k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $34,900

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 1961 — 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 F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. 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?
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: 3.61% ✓
• Cap rate: 32.21%
• Cash-on-cash: 92.57%
• DSCR: 5.12
• GRM: 2.3

CMA / ARV

• ARV (median comp): $68,127
• List price: $34,900
• Delta: -48.77%
• Verdict: UNDERPRICED
• Comps: 10 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3439 S 184th St #277	0.24mi	1/1.0	550 (0%)	3mo	$25,000	$45	87
18305 35th Ave S #357	0.19mi	2/1.5 (+1)	540 (-2%)	7mo	$23,500	$44	75
18320 35th Pl S #384	0.19mi	1/1.0	616 (+12%)	3mo	$77,500	$126	69
18117 32nd Ave S #333	0.11mi	1/1.0	660 (+20%)	2mo	$79,900	$121	68
3212 S 182nd Pl #193	0.12mi	1/1.0	630 (+14%)	3mo	$17,000	$27	68
3439 S 181st Pl #146	0.11mi	2/1.0 (+1)	648 (+18%)	2mo	$94,900	$146	63
3407 S 180th Pl #61	0.04mi	2/1.0 (+1)	648 (+18%)	13mo	$98,000	$151	57
18306 35th Ave S #365	0.17mi	2/1.0 (+1)	648 (+18%)	11mo	$99,900	$154	53

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 89.9%
• Equity multiple: 4.96×
• Total profit: $38,687
• Equity at exit: $5,204

10-year hold

• IRR: 92.3%
• Equity multiple: 9.32×
• Total profit: $81,325
• Equity at exit: $3,018

Cash invested: $9,772 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 13 active · 7 under contract
• Months of supply: 13.0 mo (8%/mo absorbed)
• Median asking: $79,900 ($121/sqft)
• Median days on market: 138 d
• This list price: lowest-priced of the active set
• ARV vs active asking: +2.3% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 98188

• Rents YoY: -0.7%
• Active inventory: 168
• Price-to-rent: 2.3×

Monthly cashflow live

• Estimated rent: $1,260 high
• Mortgage (P&I): −$183
• Tax est. 1.5%: −$44 /mo · $524/yr
• Insurance: −$15
• HOA: −$0
• Lot rent leased land?: −$0
• Vacancy / Maint / Mgmt: −$265
• Net cashflow: $754

Break-even live

Break-even rent $305

Max offer price $34,900

Occupancy floor 35%

Sensitivity live

Price	-10% $778	-5% $766	+0% $754	+5% $742	+10% $730
Rent	-10% $654	-5% $704	+0% $754	+5% $804	+10% $853
Rate	-1.0pp $771	-0.5pp $763	base $754	+0.5pp $745	+1.0pp $736

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: $8,725
• Closing costs: $1,047
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
17840 32nd Ave S Seatac, WA	1.0–2.0	1.0–1.5	770	$1,475	$1.92	0d	3	0.10mi
3425 S 176th St #128 Seatac, WA	1.0	1.0	534	$1,500	$2.81	139d	1	0.25mi
3445 S 176th St #401 Seatac, WA	1.0	1.0	608	$1,400	$2.30	110d	1	0.30mi
3445 S 176th St #401 Seatac, WA	1.0	1.0	608	$1,450	$2.38	139d	1	0.30mi
3351 S 175th St Seatac, WA	3.0	1.0–2.0	935	$1,899	$2.03	0d	6	0.33mi
3051 S 188th St Seatac, WA	2.0	1.0	720	$1,738	$2.41	67d	3	0.51mi
4410 S 173rd St Seatac, WA	2.0	1.0	723	$2,100	$2.90	139d	1	0.74mi
3117 S 192nd St Seatac, WA	1.0–2.0	1.0	838	$1,720	$2.05	0d	3	0.75mi
16834 35th Ave S Seatac, WA	2.0	1.0	740	$2,695	$3.64	60d	1	0.76mi
16700 31st Ave S Seatac, WA	1.0	1.0	750	$1,498	$2.00	139d	2	0.87mi
4807 S 172nd Pl Seatac, WA	2.0	1.0	700	$2,550	$3.64	139d	1	0.95mi
19707 International Blvd Seatac, WA	1.0	1.0	512	$1,790	$3.50	0d	29	1.14mi
19800 International Blvd Seatac, WA	1.0–2.0	1.0–1.5	822	$1,645	$2.00	0d	6	1.16mi
19922 28th Ave S Seatac, WA	2.0	1.0–2.0	709	$2,459	$3.47	0d	68	1.23mi
16006 34th Ave S Seatac, WA	2.0	1.0	750	$1,600	$2.13	38d	1	1.27mi
3445 S 160th St Seattle, WA	1.0	1.0	620	$1,595	$2.57	46d	9	1.29mi
3445 S 160th St Seattle, WA	1.0–2.0	1.0	730	$1,495	$2.05	69d	9	1.29mi
3445 S 160th St Seattle, WA	1.0	1.0	620	$1,550	$2.50	5d	3	1.29mi
2929 S 200th St Seatac, WA	2.0	1.0–2.0	703	$2,288	$3.25	112d	12	1.31mi
2929 S 200th St Seatac, WA	2.0	1.0–2.0	653	$2,038	$3.12	10d	7	1.31mi
2650 S 200th St Seatac, WA	3.0	1.0	782	$1,672	$2.14	6d	1	1.31mi
20036 30th Ave S Unit S9 SeaTac, WA	2.0	1.0	750	$1,795	$2.39	106d	1	1.36mi
20036 30th Ave S Unit S8 SeaTac, WA	2.0	1.0	750	$1,795	$2.39	120d	1	1.36mi
15830 39th Pl S Tukwila, WA	1.0–3.0	1.0–2.0	916	$1,682	$1.84	0d	3	1.38mi
15805 40th Pl S Tukwila, WA	1.0–2.0	1.0	797	$1,649	$2.07	0d	2	1.39mi

Listing history 50 events

1. 2026-09-21
   days on market $34,900 Active
2. 2026-09-20
   days on market $34,900 Active 314 DOM
3. 2026-09-19
   days on market $34,900 Active 313 DOM
4. 2026-09-18
   days on market $34,900 Active 312 DOM
5. 2026-09-17
   days on market $34,900 Active 311 DOM
6. 2026-09-16
   days on market $34,900 Active 310 DOM
7. 2026-09-15
   days on market $34,900 Active 309 DOM
8. 2026-09-14
   days on market $34,900 Active 308 DOM
9. 2026-09-13
   days on market $34,900 Active 307 DOM
10. 2026-09-12
    remarks 545-char remark
11. 2026-09-12
    days on market $34,900 Active 306 DOM
12. 2026-09-11
    days on market $34,900 Active 305 DOM
13. 2026-09-05
    days on market $34,900 Active 299 DOM
14. 2026-09-04
    days on market $34,900 Active 298 DOM
15. 2026-09-03
    days on market $34,900 Active 297 DOM
16. 2026-08-31
    days on market $34,900 Active 294 DOM
17. 2026-08-29
    days on market $34,900 Active 292 DOM
18. 2026-08-28
    days on market $34,900 Active 291 DOM
19. 2026-08-27
    days on market $34,900 Active 290 DOM
20. 2026-08-26
    days on market $34,900 Active 289 DOM
21. 2026-08-25
    days on market $34,900 Active 288 DOM
22. 2026-08-24
    days on market $34,900 Active 287 DOM
23. 2026-08-23
    days on market $34,900 Active 286 DOM
24. 2026-08-22
    days on market $34,900 Active 285 DOM
25. 2026-08-21
    days on market $34,900 Active 284 DOM
26. 2026-08-20
    days on market $34,900 Active 283 DOM
27. 2026-08-19
    days on market $34,900 Active 282 DOM
28. 2026-08-18
    days on market $34,900 Active 281 DOM
29. 2026-08-17
    days on market $34,900 Active 280 DOM
30. 2026-08-16
    days on market $34,900 Active 279 DOM
31. 2026-08-15
    days on market $34,900 Active 278 DOM
32. 2026-08-14
    days on market $34,900 Active 277 DOM
33. 2026-08-13
    days on market $34,900 Active 276 DOM
34. 2026-08-12
    days on market $34,900 Active 275 DOM
35. 2026-08-11
    days on market $34,900 Active 274 DOM
36. 2026-08-10
    days on market $34,900 Active 273 DOM
37. 2026-08-09
    days on market $34,900 Active 272 DOM
38. 2026-08-08
    days on market $34,900 Active 271 DOM
39. 2026-08-06
    days on market $34,900 Active 269 DOM
40. 2026-08-05
    days on market $34,900 Active 268 DOM
41. 2026-08-04
    days on market $34,900 Active 267 DOM
42. 2026-08-03
    days on market $34,900 Active 266 DOM
43. 2026-07-31
    days on market $34,900 Active 263 DOM
44. 2026-07-30
    days on market $34,900 Active 262 DOM
45. 2026-07-30
    days on market $34,900 Active 261 DOM
46. 2026-07-28
    days on market $34,900 Active 260 DOM
47. 2026-07-26
    days on market $34,900 Active 258 DOM
48. 2026-07-24
    days on market $34,900 Active 256 DOM
49. 2026-07-23
    days on market $34,900 Active 255 DOM
50. 2026-07-22
    days on market $34,900 Active 254 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 ≥88°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 7/10 Severe 9 unhealthy d/yr today · 10 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,115
• − Mortgage interest: −$1,955
• − Property taxes: −$524
• − Insurance: −$174
• − Repairs & maintenance: −$1,209
• − Management: −$1,209
• − Depreciation: −$1,015
• Taxable income: $9,028
• Est. tax owed @ 24.0%: −$2,167
• After-tax cash flow: $6,880/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 Est. rehab $13,750–$24,750 screening

This singlewide has potential for significant value increase with moderate renovations to the kitchen and bathroom. The home is in fair condition with good landscaping and curb appeal.

Repairs flagged

• Moderate kitchen cabinets — dated and in need of updating
• Moderate kitchen countertops — dated and in need of updating
• Moderate bathroom fixtures — dated and in need of updating
• Moderate bathroom tile — dated and in need of updating

Value-add opportunities

• Both update kitchen cabinets and countertops — modernizing the kitchen will increase both resale and rental value ↑
• Both update bathroom fixtures and tile — modernizing the bathroom will increase both resale and rental 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

Elementary Bow Lake Elementary Middle Chinook Middle School High Tyee High School

Schools (NCES district)

• District: Highline School District
• NCES district ID: 5303540
• Math proficiency: 36% ▼ -4.00%
• Reading proficiency: 49% ▼ -1.00%
• Median HH income: $52,697
• Composite: 39.12/100
• National rank: #8245
• State rank: #200 of 291 in WA

B Composite livability gradescore 78/100

Livability — SeaTac

• Score: 78/100
• State rank: #118
• US rank: #2417

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: SeaTac, WA
• County: King County · 2,576,485 people
• City population: 62,839
• Metro: Seattle-Tacoma-Bellevue, WA
• Population (ZIP): 27,311
• Household income: $76,438
• Rent vs Own: 58.5% rent · 41.5% own
• Severe rent burden: 16% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.79)
• Race & ethnicity: White 28% Black 26% Hispanic / Latino 21% Asian 15% Two or more races 10% Pacific Islander 3%
• Hispanic origin (detail): Mexican 16%
• Common ancestry: Lithuanian 2% Portuguese 2% Italian 1%
• Foreign-born: 41% · Canada, Vietnam, Philippines
• Languages at home: 52% English-only · Spanish 15% Other Asian/Pacific 6% Other Indo-European 3%

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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: ▼ -595.95%
• Current HPI: 334.4203
• Rent YoY: ▼ -0.68%
• Metro: Seattle-Tacoma-Bellevue, WA
• State GDP YoY: ▲ 4.65%
• F500 in state: 22

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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

-10.5% since first listed

4 events — show timeline

• 2026-03-10 Price Changed $34,900 NWMLS as Distributed by MLS Grid
• 2026-02-13 Relisted — NWMLS as Distributed by MLS Grid
• 2026-02-10 Pending — NWMLS as Distributed by MLS Grid
• 2025-11-07 Listed $39,000 NWMLS as Distributed by MLS Grid