6330 Isaac Ave SE Unit A-24 · Auburn, WA 98092

$359,000

2 bd · 2.0 ba · 1,013 sqft · Condo public records · 46 Days on market

Built 2005 $485/mo HOA · 18% of rent ↓ 6% since listing

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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).

• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Cash flow +6.0/30.0
• Schools +4.7/10.0
• Livability +4.0/5.0
• 1% rule +2.6/10.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• DSCR +0.4/10.0

Listing remarks

Experience low-maintenance living in this beautifully appointed single-level ground-floor condo in Lakeland's Carrara Community. Offering 2 spacious bedrooms and 2 well-appointed bathrooms, the residence showcases an open-concept layout that balances comfort with effortless entertaining. Refined luxury vinyl plank flooring runs throughout the living and primary bedroom, lending both durability and a clean, contemporary aesthetic. A generously sized garage provides abundant space for parking, storage, or hobbies—an exceptional and highly desirable feature. Step onto your private patio, a serene and secluded retreat offering a rare sense of privacy—perfect for quiet mornings or re

Key facts

• Private patio
• Open-concept layout
• $485 HOA

Tags

• OPEN-CONCEPT LAYOUT
• LUXURY VINYL PLANK FLOORING
• PRIVATE PATIO

Property features AI

Finance

• Other: Bus route nearby (route 497)
• Financial info: Acceptable financing: Cash, Conventional, FHA, VA
• HOA & community: HOA fee $485 monthly; HOA covers common area maintenance, earthquake insurance, lawn service, road maintenance, sewer and water; Around the Clock association contact; 25 units in community; 6 units in building

Exterior

• Parking: Individual garage (covered); Off-street parking; 1 uncovered parking space
• Utilities: Electric energy source; Water service through HOA; Sewer service through HOA; Power provided by PSE
• Home design: Attached condominium; One-level unit (entry on main level); North-facing
• Construction: Built in 2005 (effective year); Metal/vinyl construction; Composition roof; Multi-family structure; 2 stories in building
• Exterior features: Corner lot; Paved; Sidewalk; Balcony/Deck/Patio; End unit; Ground floor; Insulated windows; Unit has a view

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator; Stove/Range
• Bedrooms: 2 bedrooms (both on the main level); Primary bedroom (main level)
• Flooring: Vinyl; Vinyl plank; Carpet
• Bathrooms: 2 full bathrooms (both on the main level); 2 bathtubs; 2 showers
• Heating & cooling: Baseboard heating; No cooling
• Interior features: Electric cooking; Electric dryer hookup; Washer hookup; Fireplace (electric); Walk-in closet(s); Water heater
• Laundry & utility: Washer included; Dryer included; Washer hookup; Electric dryer hookup; Water heater located in bedroom closet (electric)

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $359k.

Deal economics

• At list price, monthly cash flow is $-686 ($-8k/yr) — negative.
• To cash-flow at today's rent, offer at most $238k (33.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $274k (23.7% below list).
• Recommended offer: $238k (33.8% below list) — sets the bar for cash-flow.
• Cap rate 4.0% vs local median 2.7% in Auburn — 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 81/100 on livability (#75 in WA, #1,371 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, employment A+; Watch: crime 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.
• Zoned schools: Lakeland Hills Elementary (536 students, 35% FRL); Auburn Riverside High School (1,909 students, 50% FRL) — zoned schools at 42% FRL track the district average.
• Market conditions: Rents soft (-0.5%/yr); 291 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 3,209 units permitted in Pierce County in 2024 (1,269 in 5+ unit buildings).

Forward outlook

• In year one you build about $38k of equity ($2k loan paydown + $36k appreciation (10.0% local appreciation)).
• Pierce County population projected at +26% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$62k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 46 days — a 3% lower offer ($348k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 5y 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.

Recommended offer $237,800 (33.8% 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. It's been on market 46 days. Have you received any prior offers? Is the seller open to a 34% concession, seller financing, or rate buy-down credit?
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. 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?
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: 0.76% ✗
• Cap rate: 4.00%
• Cash-on-cash: -8.19%
• DSCR: 0.64
• GRM: 10.9

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: 17.7%
• Equity multiple: 2.43×
• Total profit: $144,060
• Equity at exit: $323,416

10-year hold

• IRR: 16.0%
• Equity multiple: 5.42×
• Total profit: $444,749
• Equity at exit: $697,458

Cash invested: $100,520 (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: 10.9×

Monthly cashflow live

• Estimated rent: $2,741 high
• Mortgage (P&I): −$1,883
• Tax from tax record: −$334 /mo · $4,010/yr
• Insurance: −$150
• HOA: −$485
• Vacancy / Maint / Mgmt: −$576
• Net cashflow: $-686

Break-even live

Break-even rent $3,609

Max offer price $237,800

Occupancy floor —

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: $89,750
• Closing costs: $10,770
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1105 63rd St SE Unit C Auburn, WA	3.0	2.5	1372	$4,000	$2.92	1d	1	0.06mi
1115 62nd St SE Unit 18B Auburn, WA	2.0	1.5	1285	$2,695	$2.10	1d	1	0.10mi
7101 Lindsay Ave SE Auburn, WA	1.0–2.0	1.0–1.5	853	$2,069	$2.42	1d	20	0.54mi
6821 Udall Pl SE Auburn, WA	1.0–3.0	1.0–2.0	923	$2,260	$2.45	1d	27	0.75mi
2705 67th Ct SE Auburn, WA	3.0	3.0	1458	$2,995	$2.05	10d	1	1.03mi
703 47th St SE Auburn, WA	2.0	1.0–2.0	781	$1,970	$2.52	1d	7	1.08mi
4704 Mill Pond Dr SE #213 Auburn, WA	2.0	2.0	1142	$2,750	$2.41	2d	1	1.18mi
508 4th Ave SE Pacific, WA	2.0	1.0	885	$2,100	$2.37	24d	1	1.35mi

HOA detail condo

• Monthly dues: $485 · $5,820/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 14 events

1. 2026-05-12
   status Pending
2. 2026-05-12
   status Pending
3. 2026-04-17
   price $359,000
4. 2026-04-17
   price $359,000
5. 2026-03-27
   listed $369,900 Active
6. 2026-03-27
   listed $369,900 Active
7. 2022-01-27
   soldstatus $378,500 Closed
8. 2021-12-24
   status Pending
9. 2021-12-24
   status Pending
10. 2021-12-17
    price $375,000
11. 2021-12-17
    status Active
12. 2021-11-23
    status Pending
13. 2021-11-19
    listed $380,000 Active
14. 2021-11-19
    listed Active

ⓘ 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: $4,010 · $334/mo
• Projected year-2 tax: $4,010 · $334/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 ≥87°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: $32,890
• − Mortgage interest: −$20,110
• − Property taxes: −$4,010
• − Insurance: −$1,795
• − Repairs & maintenance: −$2,631
• − Management: −$2,631
• − HOA: −$5,820
• − Depreciation: −$10,444
• Taxable loss: −$14,550
• Est. tax savings @ 24.0%: +$3,492
• After-tax cash flow: $-4,741/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 — Auburn

• Score: 81/100
• State rank: #75
• US rank: #1371

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Auburn, WA
• County: King County · 2,251,916 people
• City population: 74,969
• 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 (Pierce County) Hauer SSP2

• Today (2025): 956,648 people
• By 2030: 1,010,862 · +5.7%
• By 2040: 1,113,170 · +16.4%
• By 2050: 1,206,524 · +26.1%
• By 2075: 1,436,425 · +50.2%
• By 2100: 1,563,654 · +63.5%

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 · Pierce

• 2024 margin: D (+10.8) · D 53.9% · R 43.1% · Other 3.0%
• 2008→2024 swing: -1.4pp toward R · 2008: 12.2pp · 2024: 10.8pp
• All cycles: 2024: D+10.8 2020: D+11.2 2016: D+7.5 2012: D+11.0 2008: D+12.2

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

-5.5% since first listed

14 events — show timeline

• 2026-05-12 Pending — NWMLS as Distributed by MLS Grid
• 2026-05-12 Pending — NWMLS as Distributed by MLS Grid
• 2026-04-17 Price Changed $359,000 NWMLS as Distributed by MLS Grid
• 2026-04-17 Price Changed $359,000 NWMLS as Distributed by MLS Grid
• 2026-03-27 Listed $369,900 NWMLS as Distributed by MLS Grid
• 2026-03-27 Listed $369,900 NWMLS as Distributed by MLS Grid
• 2022-01-27 Sold (MLS) $378,500 NWMLS as Distributed by MLS Grid
• 2021-12-24 Pending — NWMLS as Distributed by MLS Grid
• 2021-12-24 Pending — NWMLS as Distributed by MLS Grid
• 2021-12-17 Price Changed $375,000 NWMLS as Distributed by MLS Grid
• 2021-12-17 Relisted — NWMLS as Distributed by MLS Grid
• 2021-11-23 Pending — NWMLS as Distributed by MLS Grid
• 2021-11-19 Listed — NWMLS as Distributed by MLS Grid
• 2021-11-19 Listed $380,000 NWMLS as Distributed by MLS Grid

Property tax history

+3.6%/yr

Latest (2026): $4,010 · +1.7% YoY. Source: county tax records.