2424 S 260th St #40 · Kent, WA 98032

$40,000

2 bd · 1.0 ba · 672 sqft · Manufactured · 19 Days on market

Built 1979 Fair condition

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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).

• Cash flow +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +4.0/5.0
• Schools +3.9/10.0
• Rent growth +2.3/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

Manufactured home in Kent at West Hills Mobile Home Park. All ages welcome! Roof is 10 years old, plumbing has been updated.

Key facts

• Manufactured home
• Parking
• Built 1979

Tags

• MANUFACTURED HOME
• WEST HILLS MOBILE HOME PARK
• PLUMBING HAS BEEN UPDATED

Property features AI

Finance

• Other: Calculated living area: 672; Park directions: GPS works
• Financial info: Land lease: $1,100; Listing terms: Cash
• HOA & community: Located in TCGPROP park; Park approved for sale

Exterior

• Parking: Uncovered parking
• Utilities: Electric energy source; Public water; PSE power company
• Home design: Manufactured single-wide home; Single level
• Construction: Metal/vinyl construction materials; Torch down roof; Tie-down foundation; Manufactured after 6/15/1976; Mobile home remains
• Exterior features: Metal/vinyl exterior; Awnings

Interior

• Kitchen: Microwave; Stove/Range
• Bedrooms: 2 bedrooms
• Flooring: Laminate
• Bathrooms: 1 full bathroom with bathtub and shower
• Heating & cooling: Forced air heating; No central cooling
• Interior features: Dryer; Washer; Microwave; Stove/Range; Laminate flooring; Double pane windows; Awnings
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $40k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $40k).
• Recommended offer: $39k (1.5% below list) — sets the bar for market timing.
• Cap rate 38.7% vs local median 2.7% in Kent — 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 79/100 on livability (#109 in WA, #2,154 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, housing A+; Watch: schools C-, crime F, cost of living F.
• Federal Way School District (suburban): math 35% / reading 47% proficiency, ranked #207 of 291 in WA (top 71%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents soft (-0.7%/yr); 124 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); 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 $277 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 $11k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 19 days — a 2% lower offer ($39k) is reasonable based on typical stale-listing flexibility.

Recommended offer $39,400 (1.5% below list)

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. 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?
5. 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?
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: 4.30% ✓
• Cap rate: 38.74%
• Cash-on-cash: 115.86%
• DSCR: 6.16
• GRM: 1.9

CMA / ARV

• ARV (on-the-fly): $504,000
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
25444 22nd Ave S	0.28mi	2/1.0	600 (-11%)	9mo	$450,000	$750	61

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: —
• Equity multiple: 6.12×
• Total profit: $57,382
• Equity at exit: $5,964

10-year hold

• IRR: —
• Equity multiple: 11.65×
• Total profit: $119,295
• Equity at exit: $3,458

Cash invested: $11,200 (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 98032

• Rents YoY: -0.7%
• Active inventory: 124
• Price-to-rent: 1.9×

Monthly cashflow live

• Estimated rent: $1,719 high
• Mortgage (P&I): −$210
• Tax est. 1.5%: −$50 /mo · $600/yr
• Insurance: −$17
• HOA: −$0
• Vacancy / Maint / Mgmt: −$361
• Net cashflow: $1,081

Break-even live

Break-even rent $350

Max offer price $40,000

Occupancy floor 32%

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: $10,000
• Closing costs: $1,200
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2709 S 256th Pl Unit C Kent, WA	2.0	1.0	679	$1,850	$2.72	44d	1	0.23mi
2705 S 256th St Unit B Kent, WA	1.0	1.0	650	$1,550	$2.38	44d	1	0.25mi
1924 S 254th Pl Unit B Des Moines, WA	1.0	1.0	500	$1,250	$2.50	24d	1	0.44mi
2613 S 272nd St Federal Way, WA	2.0	1.0	728	$1,795	$2.47	5d	1	0.80mi
2613 S 272nd St #21 Kent, WA	2.0	1.0	728	$1,795	$2.47	5d	1	0.82mi
2609 S 272nd St #33 Kent, WA	1.0	1.0	557	$1,500	$2.69	15d	1	0.82mi
2211 S Star Lake Rd Federal Way, WA	1.0–3.0	1.0–2.0	902	$1,840	$2.04	2d	45	0.93mi
23829 30th Ave S Unit x Kent, WA	1.0	1.0	350	$1,250	$3.57	24d	1	1.32mi
24849 46th Ave S Kent, WA	1.0–3.0	1.0–2.0	887	$2,088	$2.35	2d	9	1.32mi
4813 S 252nd Pl Kent, WA	2.0	1.0	757	$1,695	$2.24	44d	5	1.36mi
4724 S 272nd St Kent, WA	1.0–3.0	1.0–2.0	900	$1,865	$2.07	3d	15	1.41mi
4821 S Kent Des Moines Rd Kent, WA	1.0	1.0	650	$1,515	$2.33	13d	17	1.44mi
1823 S Kent Des Moines Rd Des Moines, WA	2.0	1.0	621	$1,900	$3.06	5d	6	1.50mi

Listing history 15 events

1. 2026-06-18
   days on market $40,000 Active 19 DOM
2. 2026-06-17
   days on market $40,000 Active 18 DOM
3. 2026-06-16
   days on market $40,000 Active 17 DOM
4. 2026-06-15
   days on market $40,000 Active 16 DOM
5. 2026-06-13
   days on market $40,000 Active 14 DOM
6. 2026-06-10
   price $40,000 Active 10 DOM
7. 2026-06-09
   days on market $49,900 Active 10 DOM
8. 2026-06-08
   days on market $49,900 Active 9 DOM
9. 2026-06-07
   days on market $49,900 Active 8 DOM
10. 2026-06-04
    days on market $49,900 Active 5 DOM
11. 2026-06-03
    days on market $49,900 Active 4 DOM
12. 2026-06-02
    days on market $49,900 Active 3 DOM
13. 2026-06-01
    days on market $49,900 Active 2 DOM
14. 2026-05-31
    remarks 124-char remark
15. 2026-05-31
    listed $49,900 Active 1 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: $20,625
• − Mortgage interest: −$2,241
• − Property taxes: −$600
• − Insurance: −$200
• − Repairs & maintenance: −$1,650
• − Management: −$1,650
• − Depreciation: −$1,164
• Taxable income: $13,121
• Est. tax owed @ 24.0%: −$3,149
• After-tax cash flow: $9,828/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 · 7 photos

Fair 45/100 Moderate rehab

This manufactured home requires significant updates to its kitchen, bathrooms, exterior, and interior to improve its condition and value.

Repairs flagged

• Major kitchen cabinets — poor condition
• Major kitchen countertops — poor condition
• Major kitchen appliances — poor condition
• Major bathroom fixtures — poor condition
• Major exterior siding — poor condition
• Major flooring — poor condition
• Major interior walls/paint — poor condition
• Major plumbing — needs updating

Value-add opportunities

• Resale update kitchen cabinets and countertops — modernizing the kitchen will attract more buyers
• Resale update bathroom fixtures — modernizing the bathroom will attract more buyers
• Resale paint interior walls — fresh paint will make the interior look more appealing
• Resale repair exterior siding — aesthetic improvements will increase curb appeal
• Resale update flooring — new flooring will make the home more attractive
• Resale update kitchen appliances — modern appliances will make the kitchen more appealing
• Resale update bathroom fixtures — modern fixtures will make the bathroom more appealing

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · poor condition	Major	$15,000–50,000
kitchen countertops · poor condition	Major	$15,000–50,000
kitchen appliances · poor condition	Major	$15,000–50,000
bathroom fixtures · poor condition	Major	$15,000–50,000
exterior siding · poor condition	Major	$15,000–50,000
flooring · poor condition	Major	$15,000–50,000
interior walls/paint · poor condition	Major	$15,000–50,000
plumbing · needs updating	Major	$15,000–50,000
Total estimated repair cost · 8 items		$120,000–400,000

Value-add ROI direction

• Resale update kitchen cabinets and countertops — modernizing the kitchen will attract more buyers ↑
• Resale update bathroom fixtures — modernizing the bathroom will attract more buyers ↑
• Resale paint interior walls — fresh paint will make the interior look more appealing ↑
• Resale repair exterior siding — aesthetic improvements will increase curb appeal ↑
• Resale update flooring — new flooring will make the home more attractive ↑
• Resale update kitchen appliances — modern appliances will make the kitchen more appealing ↑
• Resale update bathroom fixtures — modern fixtures will make the bathroom more appealing ↑

ⓘ 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: Federal Way School District
• NCES district ID: 5302820
• Math proficiency: 35% ▬ 0.00%
• Reading proficiency: 47% ▬ 0.00%
• Median HH income: $61,594
• Composite: 38.79/100
• National rank: #8361
• State rank: #207 of 291 in WA

Livability — Kent

• Score: 79/100
• State rank: #109
• US rank: #2154

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Kent, WA
• County: King County · 2,251,916 people
• City population: 119,479
• Metro: Seattle-Tacoma-Bellevue, WA
• Population (ZIP): 40,862
• Household income: $82,636
• Rent vs Own: 57.3% rent · 42.7% own
• Severe rent burden: 2581.0

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: Highly diverse neighborhood (Simpson 0.79)
• Race & ethnicity: White 32% Hispanic / Latino 24% Asian 17% Black 16% Two or more races 12% Pacific Islander 4%
• Hispanic origin (detail): Mexican 18%
• Common ancestry: Portuguese 4% Italian 4% Lithuanian 2%
• Foreign-born: 33% · Canada, Vietnam, China
• Languages at home: 57% English-only · Spanish 19% Other Indo-European 6% Other Asian/Pacific 4%

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: ▼ -527.12%
• Current HPI: 299.2499
• Rent YoY: ▼ -0.68%
• 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

1 event — show timeline

• 2026-05-30 Listed $49,900 NWMLS as Distributed by MLS Grid