11513 155th Ave SE · East Renton Highlands, WA 98059

$75,800

2 bd · 1.0 ba · 736 sqft · Manufactured · 31 Days on market

Built 1980 Good condition Est $54k · 39% over

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Why this score? — see what drove the B- 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
• Schools +7.3/10.0
• Condition / age +4.0/5.0
• Livability +3.1/5.0
• Rent growth +2.6/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

This fantastic 736 sq ft double-wide manufactured home has been beautifully remodeled and is truly move-in ready — just unpack and start enjoying your next chapter. Inside, you'll find gorgeous new flooring throughout, a modern kitchen featuring updated cabinetry and countertops, a refreshed bathroom, and stylish new fixtures that give the home a fresh, contemporary feel without sacrificing warmth or charm. Light-filled living spaces create an inviting atmosphere that immediately feels like home. Designed for comfortable, low-maintenance living, this home lets you spend more time doing what you love. The 55+ Esplanade community is known for its peaceful setting and pride of ownership

Key facts

• Esplanade community
• Refreshed bathroom
• Modern kitchen

Tags

• DOUBLE-WIDE MANUFACTURED HOME
• MODERN KITCHEN
• UPDATED CABINETRY
• REFRESHED BATHROOM
• LIGHT-FILLED LIVING SPACES
• ESPLANADE COMMUNITY

Property features AI

Finance

• Financial info: Land lease: $1,400; Listing terms: Cash or Conventional
• HOA & community: Located in a park with about 30 homes; Senior community; Cats allowed; Park approved for sale

Exterior

• Parking: One open/uncovered parking space
• Utilities: Electric power (PSE); Public water; Cable connected (Xfinity); Internet connected (Xfinity)
• Home design: Manufactured double-wide home (Kit model 36/24); One level; Faces west; Manufactured after 6/15/1976; Mobile home remains in place
• Construction: Metal/vinyl siding; Composition roof; Built as a manufactured house
• Exterior features: Patio/porch/deck; Landscaped; Paved lot; Common area in park; Has a view; Double pane windows

Interior

• Kitchen: Dishwasher; Microwave; Stove/Range; Refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Engineered hardwood; Entry and living areas with engineered hardwood
• Bathrooms: 1 three-quarter bath with shower
• Heating & cooling: Forced-air heating
• Interior features: Water heater (located in hallway closet); Tie down foundation
• Laundry & utility: Washer; Dryer; Utility room

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $76k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $76k).
• Recommended offer: $74k (3.0% below list) — sets the bar for market timing.
• Cap rate 29.1% vs local median 2.0% in East Renton Highlands — 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 62/100 on livability (#431 in WA) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: schools D, amenities F, commute F.
• Issaquah School District (suburban): math 77% / reading 81% proficiency, ranked #4 of 291 in WA (top 1%) — strong family-tenant draw, lease renewals of 3-5y typical; only 7% free/reduced lunch — higher-income household profile.
• Market conditions: Rents flat; 255 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 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 $524 of loan paydown is wiped out by about $2k 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 + 0.3% rent growth), your $21k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($74k) is reasonable based on typical stale-listing flexibility.

Recommended offer $73,526 (3.0% below list)

Questions for the listing agent

1. It's been on market 31 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 3.28% ✓
• Cap rate: 29.06%
• Cash-on-cash: 81.32%
• DSCR: 4.62
• GRM: 2.5

CMA / ARV

• ARV (on-the-fly): $54,464
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
11414 164th Ave SE #45	0.57mi	2/1.0	660 (-10%)	8mo	$49,000	$74	49

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 · 0.29% rent growth · sell at horizon

5-year hold

• IRR: 78.5%
• Equity multiple: 4.43×
• Total profit: $72,766
• Equity at exit: $11,302

10-year hold

• IRR: 81.3%
• Equity multiple: 8.34×
• Total profit: $155,844
• Equity at exit: $6,554

Cash invested: $21,224 (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 98059

• Rents YoY: 0.3%
• Active inventory: 255
• Price-to-rent: 2.5×

Monthly cashflow live

• Estimated rent: $2,484 medium
• Mortgage (P&I): −$398
• Tax est. 1.5%: −$95 /mo · $1,137/yr
• Insurance: −$32
• HOA: −$0
• Vacancy / Maint / Mgmt: −$522
• Net cashflow: $1,438

Break-even live

Break-even rent $663

Max offer price $75,800

Occupancy floor 37%

Sensitivity live

Price	-10% $1,491	-5% $1,464	+0% $1,438	+5% $1,412	+10% $1,386
Rent	-10% $1,242	-5% $1,340	+0% $1,438	+5% $1,536	+10% $1,635
Rate	-1.0pp $1,476	-0.5pp $1,458	base $1,438	+0.5pp $1,419	+1.0pp $1,399

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: $18,950
• Closing costs: $2,274
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
650 Duvall Ave NE Renton, WA	1.0–3.0	1.0–3.0	1020	$2,454	$2.40	0d	13	1.08mi
4415 NE 5th St Renton, WA	1.0–3.0	1.0–2.0	923	$2,370	$2.57	0d	10	1.33mi

Listing history 16 events

1. 2026-06-21
   days on market $75,800 Active 31 DOM
2. 2026-06-18
   days on market $75,800 Active 28 DOM
3. 2026-06-17
   days on market $75,800 Active 27 DOM
4. 2026-06-16
   days on market $75,800 Active 26 DOM
5. 2026-06-15
   days on market $75,800 Active 25 DOM
6. 2026-06-13
   days on market $75,800 Active 23 DOM
7. 2026-06-13
   days on market $75,800 Active 22 DOM
8. 2026-06-09
   days on market $75,800 Active 19 DOM
9. 2026-06-08
   days on market $75,800 Active 18 DOM
10. 2026-06-07
    days on market $75,800 Active 17 DOM
11. 2026-06-04
    days on market $75,800 Active 14 DOM
12. 2026-06-03
    days on market $75,800 Active 13 DOM
13. 2026-06-02
    days on market $75,800 Active 12 DOM
14. 2026-06-01
    days on market $75,800 Active 11 DOM
15. 2026-05-31
    days on market $75,800 Active 10 DOM
16. 2026-05-21
    listed $75,800 Active

ⓘ 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 2/10 Low 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 · 13 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,805
• − Mortgage interest: −$4,246
• − Property taxes: −$1,137
• − Insurance: −$379
• − Repairs & maintenance: −$2,384
• − Management: −$2,384
• − Depreciation: −$2,205
• Taxable income: $17,069
• Est. tax owed @ 24.0%: −$4,096
• After-tax cash flow: $13,163/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 · 13 photos

Good 80/100 Cosmetic rehab

This move-in ready manufactured home has been beautifully remodeled with new flooring, kitchen, and bathroom, making it an attractive option for both resale and rental.

Value-add opportunities

• Both landscaping — enhances curb appeal and adds value
• Both painting — refreshes the home's appearance
• Both landscaping — enhances curb appeal and adds value

Renovation cost estimate screening

Value-add ROI direction

• Both landscaping — enhances curb appeal and adds value ↑
• Both painting — refreshes the home's appearance ↑
• Both landscaping — enhances curb appeal and adds value ↑

ⓘ 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: Issaquah School District
• NCES district ID: 5303750
• Math proficiency: 77% ▼ -1.00%
• Reading proficiency: 81% ▲ 1.00%
• Median HH income: $109,747
• Composite: 73.35/100
• National rank: #339
• State rank: #4 of 291 in WA

Livability — East Renton Highlands

• Score: 62/100
• State rank: #431
• US rank: #17171

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

• Census place: East Renton Highlands, WA
• County: King County · 2,251,916 people
• City population: 158,600
• Metro: Seattle-Tacoma-Bellevue, WA
• Population (ZIP): 42,406
• Household income: $138,654
• Rent vs Own: 23.4% rent · 76.6% own
• Severe rent burden: 908.0

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: White 48% Asian 29% Two or more races 15% Hispanic / Latino 9% Black 2%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Portuguese 3% Italian 3% Slovak 2%
• Foreign-born: 23% · China, Vietnam, Canada
• Languages at home: 67% English-only · Chinese 9% Vietnamese 6% Spanish 5%

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: ▼ -920.66%
• Current HPI: 338.4495
• Rent YoY: ▲ 0.29%
• 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

• 2026-05-21 Listed $75,800 NWMLS as Distributed by MLS Grid