14510 NE 31st St Unit H306 · Bellevue, WA 98007

$245,000

1 bd · 1.0 ba · 680 sqft · Condo public records · 21 Days on market

Built 1978 $360/sqft · 15% below area Est $287k · 15% under $541/mo HOA · 26% of rent

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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 +14.1/15.0
• Schools +6.9/10.0
• Cash flow +6.2/30.0
• Livability +4.4/5.0
• 1% rule +3.5/10.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0
• DSCR +0.5/10.0
• Appreciation +0.0/10.0

Listing remarks

Tucked away on the top floor of the renowned Bellevue Highlands Condominium community, this west-facing retreat overlooks a peaceful tree-lined vista, offering rare privacy and tranquility. Whether unwinding after a long day or enjoying a quiet evening with a good book, this home provides the perfect escape. Thoughtfully refreshed with new interior paint, fixtures, carpet, and appliances, it is truly move-in ready. The oversized walk-in pantry offers exceptional storage space, while the spacious bedroom features two closets, including a walk-in closet—an uncommon find! Ideally located near major employers including Microsoft and Google, with easy access to SR-520 and the new light rai

Key facts

• Two closets
• Tree lined vista
• West facing

Tags

• TOP FLOOR
• WEST FACING
• TREE LINED VISTA
• OVERSIZED WALK IN PANTRY
• TWO CLOSETS
• WALK IN CLOSET

Property features AI

Finance

• Other: Bus line nearby
• Financial info: Listing accepts Cash, Conventional and VA financing
• HOA & community: Monthly HOA fee; HOA fee includes common area maintenance, lawn service, road maintenance, sewer, trash and water; Community amenities: athletic court, clubhouse, laundry room, outdoor pool; Building contains 24 units; community has 240 units

Exterior

• Parking: One uncovered open parking space
• Utilities: Electric power (PSE); Water provided by HOA; Sewer provided by HOA; Community water heater
• Home design: Attached condominium; One-level condo; Top floor unit (3rd floor); Main entry; Faces west
• Construction: Cement plank construction; Torch down roof
• Exterior features: Cement-planked exterior; Unit-level view; Dead end street

Interior

• Kitchen: Dishwasher; Garbage disposal; Microwave; Refrigerator; Stove/Range
• Bedrooms: 1 bedroom (main level)
• Flooring: Laminate; Carpet
• Bathrooms: 1 full bath; Includes bathtub and shower
• Heating & cooling: Baseboard heating; No cooling
• Interior features: Electric cooking; Walk-in closet; Water heater; Blinds

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $245k.

Deal economics

• At list price, monthly cash flow is $-450 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $166k (32.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $209k (14.6% below list).
• Recommended offer: $166k (32.4% below list) — sets the bar for cash-flow.
• Cap rate 4.1% vs local median 1.1% in Bellevue — 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 87/100 on livability (#15 in WA, #314 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, employment A+; Watch: cost of living F.
• Bellevue School District (urban): math 73% / reading 79% proficiency, ranked #7 of 291 in WA (top 2%) — strong family-tenant draw, lease renewals of 3-5y typical; only 15% free/reduced lunch — higher-income household profile.
• Zoned schools: Ardmore Elementary School (358 students, 50% FRL); Interlake Senior High School (1,543 students, 26% FRL) — zoned schools average 38% FRL vs 15% district-wide (23 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents soft (-1.7%/yr); 130 active listings in the ZIP; 37 comparable units currently listed for rent nearby; rentals leasing fast (median 0d 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 $2k of loan paydown is wiped out by about $7k 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 21 days — a 2% lower offer ($241k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 25y 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 $86k; list at $245k implies a 185% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 26% of rent.

Recommended offer $165,527 (32.4% below list)

Questions for the listing agent

1. 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?
2. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.85% ✗
• Cap rate: 4.09%
• Cash-on-cash: -7.87%
• DSCR: 0.65
• GRM: 9.8

CMA / ARV

• ARV (median comp): $286,760
• List price: $245,000
• Delta: -14.56%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -34.4%
• Equity multiple: -0.08×
• Total profit: $-74,202
• Equity at exit: $36,530

10-year hold

• IRR: -74.9%
• Equity multiple: -0.81×
• Total profit: $-124,056
• Equity at exit: $21,183

Cash invested: $68,600 (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 98007

• Rents YoY: -1.7%
• Active inventory: 130
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $2,092 high
• Mortgage (P&I): −$1,285
• Tax from tax record: −$175 /mo · $2,100/yr
• Insurance: −$102
• HOA: −$541
• Vacancy / Maint / Mgmt: −$439
• Net cashflow: $-450

Break-even live

Break-even rent $2,662

Max offer price $165,527

Occupancy floor —

Sensitivity live

Price	-10% $-311	-5% $-381	+0% $-450	+5% $-519	+10% $-589
Rent	-10% $-615	-5% $-533	+0% $-450	+5% $-367	+10% $-285
Rate	-1.0pp $-326	-0.5pp $-388	base $-450	+0.5pp $-513	+1.0pp $-578

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: $61,250
• Closing costs: $7,350
• Reserves months: —
• Total cash needed: —

Rent comps 37 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
14620 NE 31st St Bellevue, WA	1.0	1.0	680	$1,892	$2.78	44d	2	0.06mi
14620 NE 31st St Unit E-305 Bellevue, WA	1.0	1.0	680	$1,995	$2.93	17d	1	0.09mi
14620 NE 31st St Unit F205 Bellevue, WA	1.0	1.0	680	$2,000	$2.94	25d	1	0.09mi
14620 NE 31st St Unit E304 Bellevue, WA	1.0	1.0	680	$1,995	$2.93	25d	1	0.09mi
14665 NE 34th St Unit B21 Bellevue, WA	1.0	1.0	684	$1,990	$2.91	25d	1	0.21mi
14700 NE 35th St Bellevue, WA	1.0–3.0	1.0–2.5	924	$2,195	$2.37	0d	19	0.29mi
3615 147th Pl NE Bellevue, WA	1.0–2.0	1.0	862	$2,215	$2.57	0d	10	0.38mi
14629 NE 37th Pl Bellevue, WA	1.0–2.0	1.0	736	$2,029	$2.76	0d	11	0.39mi
2690 152nd Ave NE Redmond, WA	3.0	1.0–2.0	1111	$2,658	$2.39	0d	1	0.53mi
2808 Calder Ave NE Redmond, WA	2.0	1.0–2.0	873	$3,004	$3.44	0d	41	0.57mi
14710 NE 40th St Bellevue, WA	1.0–2.0	1.0–2.0	976	$2,253	$2.31	0d	23	0.59mi
15301 NE Turing St Redmond, WA	2.0	1.0–2.0	923	$2,878	$3.12	0d	1	0.60mi
2710 Tagore Ave NE Redmond, WA	3.0	1.0–2.0	856	$1,643	$1.92	0d	10	0.68mi
15551 NE Turing St Redmond, WA	2.0	1.0–2.0	868	$2,726	$3.14	0d	34	0.68mi
2651 156th Ave NE Redmond, WA	2.0	1.0–2.0	908	$3,012	$3.32	0d	14	0.71mi
4277 148th Ave NE Bellevue, WA	1.0–2.0	1.0–2.0	781	$2,245	$2.87	0d	10	0.79mi
15350 Bel Red Rd Redmond, WA	2.0	1.0–2.0	824	$3,097	$3.76	0d	10	0.81mi
15566 NE 22 Pl #910 Bellevue, WA	1.0–2.0	1.0–2.0	832	$1,660	$2.00	44d	2	0.84mi
2170 Bel-Red Rd Bellevue, WA	2.0	1.0–2.0	867	$2,896	$3.34	0d	20	0.84mi
15602 NE 40th St Redmond, WA	3.0	1.0–2.0	935	$2,738	$2.93	0d	1	0.88mi
2030 155th Pl NE Bellevue, WA	2.0	1.0–2.0	830	$2,783	$3.35	0d	55	0.89mi
15606 NE 40th St Bldg Z Redmond, WA	1.0	1.0	664	$3,120	$4.70	21d	1	1.03mi
15606 NE 40th St Redmond, WA	1.0–3.0	1.0–2.0	964	$1,992	$2.07	3d	1	1.07mi
15207 NE 16th Pl Bellevue, WA	2.0	1.0–2.0	704	$1,918	$2.72	0d	26	1.11mi
13238 NE Spring Blvd Bellevue, WA	2.0	1.0–2.0	696	$2,948	$4.23	0d	21	1.20mi
1616 156th Ave NE Bellevue, WA	1.0	1.0	445	$1,994	$4.48	13d	10	1.21mi
1400 154th Ave NE #4303 Bellevue, WA	1.0	1.0	700	$1,850	$2.64	44d	1	1.21mi
15309 NE 13th Pl Bellevue, WA	2.0	1.0–2.0	726	$2,082	$2.87	0d	18	1.24mi
13808 NE 12th St Bellevue, WA	1.0–2.0	1.0–2.0	860	$2,067	$2.40	0d	8	1.25mi
1955 129th Ave NE Bellevue, WA	1.0–3.0	1.0–3.5	1354	$2,531	$1.87	0d	15	1.27mi
15750 NE 15th St Bellevue, WA	1.0	1.0	451	$1,736	$3.84	4d	6	1.28mi
13166 NE 15th St Bellevue, WA	3.0	1.0–2.5	959	$3,167	$3.30	2d	49	1.28mi
13700 NE 10th Pl Bellevue, WA	3.0	1.0–2.0	773	$2,190	$2.83	0d	17	1.34mi
16539 NE 35th Ct Redmond, WA	1.0–3.0	1.0–2.0	818	$1,979	$2.42	0d	11	1.34mi
1328 130th Ave NE Bellevue, WA	1.0–2.0	1.0–2.0	883	$2,651	$3.00	0d	3	1.43mi
898 137th Ave NE Bellevue, WA	1.0–2.0	1.0–2.0	875	$1,849	$2.11	0d	20	1.47mi
885 154th Pl NE Bellevue, WA	1.0–2.0	1.0	837	$2,125	$2.54	4d	7	1.48mi

HOA detail condo

• Monthly dues: $541 · $6,492/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 14 events

1. 2026-06-07
   statusdays on market $245,000 Pending 21 DOM
2. 2026-06-04
   days on market $245,000 Active 20 DOM
3. 2026-06-03
   days on market $245,000 Active 19 DOM
4. 2026-06-02
   days on market $245,000 Active 18 DOM
5. 2026-06-01
   days on market $245,000 Active 17 DOM
6. 2026-05-31
   days on market $245,000 Active 16 DOM
7. 2026-05-15
   listed $245,000 Active
8. 2005-06-15
   soldstatus $86,000
9. 2002-01-08
   soldstatus $81,000
10. 2002-01-08
    soldstatus $81,000
11. 2001-10-08
    listed $85,950
12. 1994-08-29
    soldstatus $43,500
13. 1981-07-02
    soldstatus $42,000
14. 1979-01-15
    soldstatus $33,300

ⓘ 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: $2,100 · $175/mo
• Projected year-2 tax: $2,401 · $200/mo
• Expected delta: +$301/yr (+$25/mo · 14.3%)

ⓘ 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 2/10 Low 6 d/yr ≥87°F today · 13 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 7/10 Severe 10 unhealthy d/yr today · 13 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,109
• − Mortgage interest: −$13,724
• − Property taxes: −$2,100
• − Insurance: −$1,225
• − Repairs & maintenance: −$2,009
• − Management: −$2,009
• − HOA: −$6,492
• − Depreciation: −$7,127
• Taxable loss: −$9,576
• Est. tax savings @ 24.0%: +$2,298
• After-tax cash flow: $-3,100/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: Bellevue School District
• NCES district ID: 5300390
• Math proficiency: 73% ▼ -2.00%
• Reading proficiency: 79% ▬ 0.00%
• Median HH income: $92,676
• Composite: 69.36/100
• National rank: #622
• State rank: #7 of 291 in WA

Livability — Bellevue

• Score: 87/100
• State rank: #15
• US rank: #314

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bellevue, WA
• County: King County · 2,251,916 people
• City population: 156,686
• Metro: Seattle-Tacoma-Bellevue, WA
• Population (ZIP): 27,692
• Household income: $131,109
• Rent vs Own: 64.4% rent · 35.6% own
• Severe rent burden: 1260.0

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: Asian 46% White 31% Hispanic / Latino 12% Two or more races 9% Black 5%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Scotch-Irish 2% Lithuanian 1% Italian 1%
• Foreign-born: 52% · China, Canada, Vietnam
• Languages at home: 43% English-only · Other Indo-European 16% Other Asian/Pacific 12% Chinese 9%

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: ▼ -886.99%
• Current HPI: 424.8727
• Rent YoY: ▼ -1.74%
• 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

+635.7% since first listed

9 events — show timeline

• 2026-06-06 Pending — NWMLS as Distributed by MLS Grid
• 2026-05-15 Listed $245,000 NWMLS as Distributed by MLS Grid
• 2005-06-15 Sold (Public Records) $86,000 Public Records
• 2002-01-08 Sold (Public Records) $81,000 Public Records
• 2002-01-08 Sold (MLS) $81,000 NWMLS as Distributed by MLS Grid
• 2001-10-08 Listed $85,950 NWMLS as Distributed by MLS Grid
• 1994-08-29 Sold (Public Records) $43,500 Public Records
• 1981-07-02 Sold (Public Records) $42,000 Public Records
• 1979-01-15 Sold (Public Records) $33,300 Public Records

Property tax history

+5.1%/yr

Latest (2025): $2,100 · -10.5% YoY. Source: county tax records.