33422 192nd Ave SE #64 · Lake Holm, WA 98092

$150,000

3 bd · 2.0 ba · 950 sqft · Manufactured · 108 Days on market

Built 1999

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Why this score? — see what drove the A- 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
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.7/10.0
• Livability +3.0/5.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0

Listing remarks

This charming 3-bedroom, 2-bath home offers a spacious yard and numerous upgrades in a nice quiet and rural area off Auburn Black Diamond Road! The home includes energy-efficient vinyl windows throughout. Bright living room and open kitchen W/ an abundance of cabinets and room to entertain. The master bedroom ft. full on-suite bath. ALL NEW water heater, newer roof, fencing, appliances updated pluming (toilets, faucets, W/ D hookup, shower stalls), and new insulation, flooring/subflooring! The exterior features beautiful landscaping with retaining walls, level yard, and garden space. Motion detector floor lights on shed & light sensor for porch. 2nd electrical panel & wired for

Key facts

• Level yard
• Newer roof
• New water heater

Tags

• ENERGY EFFICIENT VINYL WINDOWS
• NEW WATER HEATER
• NEWER ROOF
• LEVEL YARD
• GARDEN SPACE
• MOTION DETECTOR FLOOR LIGHTS

Property features AI

Finance

• Other: Double pane windows (energy efficient feature)
• Financial info: Listing terms: Cash or Conventional; Land lease amount
• HOA & community: Land-lease community (Park Place); Park amenities include playground, recreational area, sidewalks; Manufactured home park approved for sale

Exterior

• Parking: Uncovered parking; 2 open parking spaces
• Utilities: Community/Public water; Electric water heater
• Home design: Manufactured double-wide home; One level; Manufactured after 06/15/1976; Tie-down foundation
• Construction: Metal/vinyl construction materials; Composition roof
• Exterior features: Metal/vinyl exterior; Patio/porch/deck; Landscaped; Walk-in closet (built-in feature listed under home features)

Interior

• Kitchen: Dishwasher; Refrigerator; Stove/Range
• Bedrooms: 3 bedrooms
• Flooring: Laminate flooring
• Bathrooms: 2 full bathrooms; 2 bathtubs; 2 showers; Primary bath with direct access (bath off primary)
• Heating & cooling: Ductless heating; Cooling present (has cooling)
• Interior features: Water heater in closet; Entry, living room, kitchen with eating space, utility room
• Laundry & utility: Utility room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $150k.

Deal economics

• At list price, monthly cash flow is $952 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $150k).
• Recommended offer: $136k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 60/100 on livability (#468 in WA) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute 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 soft (-0.5%/yr); 291 active listings in the ZIP; high-income renter base; 10,555 units permitted in King County in 2024 (7,119 in 5+ unit buildings).

Forward outlook

• In year one you build about $16k of equity ($1k loan paydown + $15k appreciation (10.0% local appreciation)).
• King County population projected at +44% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 0.0% rent growth), your $42k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$41k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 108 days — a 9% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 18y ago; this cycle's ask is 15% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $40k; list at $150k implies a 275% gain — meaningful room to come down on a strong offer.

Recommended offer $136,500 (9.0% below list)

Questions for the listing agent

1. It's been on market 108 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 1.68% ✓
• Cap rate: 13.91%
• Cash-on-cash: 27.19%
• DSCR: 2.21
• GRM: 5.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 43.1%
• Equity multiple: 4.21×
• Total profit: $134,964
• Equity at exit: $135,132

10-year hold

• IRR: 36.1%
• Equity multiple: 9.02×
• Total profit: $336,654
• Equity at exit: $291,417

Cash invested: $42,000 (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 98092

• Home prices YoY: 3.3%
• Rents YoY: -0.5%
• Active inventory: 291
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $2,517 medium
• Mortgage (P&I): −$787
• Tax est. 1.5%: −$188 /mo · $2,250/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$529
• Net cashflow: $952

Break-even live

Break-even rent $1,312

Max offer price $150,000

Occupancy floor 57%

Sensitivity live

Price	-10% $1,055	-5% $1,003	+0% $952	+5% $900	+10% $848
Rent	-10% $753	-5% $852	+0% $952	+5% $1,051	+10% $1,150
Rate	-1.0pp $1,027	-0.5pp $990	base $952	+0.5pp $913	+1.0pp $873

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-18
   days on market $150,000 Active 108 DOM
2. 2026-06-17
   days on market $150,000 Active 107 DOM
3. 2026-06-16
   days on market $150,000 Active 106 DOM
4. 2026-06-15
   days on market $150,000 Active 105 DOM
5. 2026-06-13
   days on market $150,000 Active 103 DOM
6. 2026-06-13
   days on market $150,000 Active 102 DOM
7. 2026-06-09
   days on market $150,000 Active 99 DOM
8. 2026-06-08
   days on market $150,000 Active 98 DOM
9. 2026-06-07
   days on market $150,000 Active 97 DOM
10. 2026-06-04
    days on market $150,000 Active 94 DOM
11. 2026-06-03
    days on market $150,000 Active 93 DOM
12. 2026-06-02
    days on market $150,000 Active 92 DOM
13. 2026-06-01
    days on market $150,000 Active 91 DOM
14. 2026-05-31
    days on market $150,000 Active 90 DOM
15. 2026-03-02
    price $150,000
16. 2026-03-02
    listed $130,000 Active
17. 2008-06-23
    soldstatus $39,950
18. 2008-06-06
    historical
19. 2008-03-05
    listed $39,950

ⓘ 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 2/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥88°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

Taxation est. · year 1

• Rental income: $30,201
• − Mortgage interest: −$8,402
• − Property taxes: −$2,250
• − Insurance: −$750
• − Repairs & maintenance: −$2,416
• − Management: −$2,416
• − Depreciation: −$4,364
• Taxable income: $9,603
• Est. tax owed @ 24.0%: −$2,305
• After-tax cash flow: $9,114/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: 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 — Lake Holm

• Score: 60/100
• State rank: #468
• US rank: #19289

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: King County · 2,251,916 people
• City population: 50,510
• Metro: Seattle-Tacoma-Bellevue, WA
• Population (ZIP): 50,224
• Household income: $122,300
• Rent vs Own: 25.7% rent · 74.3% own
• Severe rent burden: 1041.0

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 0.66)
• Race & ethnicity: White 54% Hispanic / Latino 15% Asian 14% Two or more races 13% Native American 4% Black 3% Pacific Islander 2%
• Hispanic origin (detail): Mexican 12%
• Common ancestry: Portuguese 4% Italian 3% Subsaharan African 3%
• Foreign-born: 20% · Canada, South Korea, Vietnam
• Languages at home: 73% English-only · Spanish 9% Russian/Polish/Slavic 4% Other Indo-European 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: ▲ 49.75%
• Current HPI: 1554.06
• Rent YoY: ▼ -0.46%
• 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

+275.5% since first listed

5 events — show timeline

• 2026-03-02 Price Changed $150,000 NWMLS as Distributed by MLS Grid
• 2026-03-02 Listed $130,000 NWMLS as Distributed by MLS Grid
• 2008-06-23 Sold (MLS) $39,950 NWMLS as Distributed by MLS Grid
• 2008-06-06 Delisted — NWMLS as Distributed by MLS Grid
• 2008-03-05 Listed $39,950 NWMLS as Distributed by MLS Grid