10231 Beacon Ave S · Tukwila, WA 98178

$365,750

3 bd · 2.0 ba · 1,510 sqft · SingleFamily public records · 85 Days on market

Built 1948 0.25 ac lot $242/sqft · 39% below area Est $600k · 39% under

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Why this score? — see what drove the C- 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 +15.0/15.0
• Cash flow +14.2/30.0
• Schools +6.1/10.0
• DSCR +4.3/10.0
• Livability +3.8/5.0
• 1% rule +3.5/10.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This home offers solid potential with good bones and a functional layout on a nice-sized lot in a desirable location. This property presents an excellent investment opportunity with solid potential for the right buyer. The three bedrooms and one and a half bathrooms provide a functional foundation, while the private backyard offers valuable outdoor space that enhances the overall appeal and usability of the property. The secluded rear yard creates an ideal setting for future entertaining, gardening, or simply enjoying outdoor relaxation away from neighboring properties. This private outdoor area adds significant value and versatility to the property, making it an attractive feature for pote

Key facts

• City views
• Rear deck
• Oversized lot

Tags

• REAR DECK
• CITY VIEWS
• TERRITORIAL VIEWS
• OVERSIZED LOT
• EXPANSION OPPORTUNITY
• ADU OPPORTUNITY

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $366k.

Deal economics

• At list price, monthly cash flow is $60 ($724/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $310k (15.3% below list).
• Recommended offer: $310k (15.3% below list) — sets the bar for 1% rule.
• Cap rate 6.5% vs local median 2.0% in Tukwila — 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 75/100 on livability (#165 in WA, #3,938 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, health & safety A+, amenities A; Watch: crime F, cost of living D-.
• Seattle Public Schools (urban): math 64% / reading 72% proficiency, ranked #19 of 291 in WA (top 6%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+2.8%/yr); 139 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 10,555 units permitted in King County in 2024 (7,119 in 5+ unit buildings).
• This rent runs 37% of the median local income ($100k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $11k 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 85 days — a 6% lower offer ($344k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $56k; list at $366k implies a 554% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $309,872 (15.3% below list)

Questions for the listing agent

1. It's been on market 85 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
2. Built in 1948 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are B-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?
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. 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.
8. 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.
9. 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: 0.85% ✗
• Cap rate: 6.49%
• Cash-on-cash: 0.71%
• DSCR: 1.03
• GRM: 9.8

CMA / ARV

• ARV (median comp): $600,072
• List price: $365,750
• Delta: -39.05%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4726 S Victor St	0.14mi	3/1.5	1,530 (+1%)	2mo	$710,000	$464	88
9744 49th Ave S	0.29mi	3/2.0	1,520 (+1%)	12mo	$730,000	$480	75
9809 57th Ave S	0.52mi	3/2.0	1,480 (-2%)	9mo	$604,000	$408	65
11122 Luther Ave S	0.58mi	4/1.5 (+1)	1,500 (-1%)	3mo	$528,000	$352	62
5521 S Bangor St	0.41mi	3/2.0	1,620 (+7%)	11mo	$655,000	$404	60
5523 S Leo St	0.57mi	3/1.0	1,480 (-2%)	11mo	$370,000	$250	57
3928 S Pilgrim St	0.74mi	3/2.0	1,440 (-5%)	3mo	$665,000	$462	56
9643 56th Ave S	0.60mi	3/1.0	1,400 (-7%)	2mo	$553,000	$395	55
9615 58th Ave S	0.71mi	3/2.0	1,397 (-8%)	4mo	$759,000	$543	51
5001 S Fletcher St	0.70mi	3/3.5	1,570 (+4%)	9mo	$675,000	$430	47
9829 60th Ave S	0.66mi	3/2.0	1,380 (-9%)	10mo	$600,000	$435	46
9324 52nd Ave S	0.68mi	2/1.0 (-1)	1,420 (-6%)	4mo	$465,000	$327	46

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 · 2.78% rent growth · sell at horizon

5-year hold

• IRR: -15.4%
• Equity multiple: 0.45×
• Total profit: $-56,147
• Equity at exit: $54,535

10-year hold

• IRR: -7.3%
• Equity multiple: 0.54×
• Total profit: $-46,897
• Equity at exit: $31,623

Cash invested: $102,410 (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 98178

• Rents YoY: 2.8%
• Active inventory: 139
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $3,099 high
• Mortgage (P&I): −$1,918
• Tax from tax record: −$317 /mo · $3,806/yr
• Insurance: −$152
• HOA: −$0
• Vacancy / Maint / Mgmt: −$651
• Net cashflow: $60

Break-even live

Break-even rent $3,022

Max offer price $365,750

Occupancy floor 93%

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: $91,438
• Closing costs: $10,972
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5514 S Avon St Seattle, WA	4.0	1.5	2020	$4,400	$2.18	44d	1	0.60mi
5526 S Avon St Seattle, WA	2.0	1.0	1300	$2,495	$1.92	43d	1	0.61mi
9400 Rainier Ave S Seattle, WA	3.0	1.0–2.0	764	$2,331	$3.05	19d	25	0.82mi
9128 48th Ave S Seattle, WA	2.0	2.0	1180	$2,700	$2.29	1d	1	0.87mi
9125 50th Ave S Unit A Seattle, WA	4.0	3.5	1710	$3,300	$1.93	2d	1	0.87mi
9750 Rainier Ave S Seattle, WA	3.0	2.0	2200	$6,200	$2.82	1d	1	0.96mi
9500 Rainier Ave S #212 Seattle, WA	2.0	2.0	1073	$2,950	$2.75	1d	1	0.96mi
4230 S Trenton St Seattle, WA	3.0	1.5	1350	$3,100	$2.30	1d	1	1.14mi
8618 Seward Park Ave S Seattle, WA	3.0	1.0	1840	$2,850	$1.55	12d	1	1.22mi
11437 70th Pl S Seattle, WA	3.0	1.0	1100	$2,925	$2.66	43d	1	1.24mi
8621 39th Ave S Seattle, WA	2.0	2.5	1640	$3,650	$2.23	1d	1	1.29mi
12427 56th Pl S Seattle, WA	3.0	1.0	1700	$3,000	$1.76	18d	1	1.30mi
12429 56th Pl S Seattle, WA	3.0	1.0	1700	$3,000	$1.76	15d	1	1.30mi
12426 56th Pl S Seattle, WA	3.0	1.0	1700	$3,000	$1.76	18d	1	1.31mi
11030 Roseberg Ave S Seattle, WA	3.0	2.0	1340	$2,495	$1.86	14d	1	1.47mi

Listing history 18 events

1. 2026-06-19
   days on market $365,750 Active 85 DOM
2. 2026-06-18
   days on market $365,750 Active 84 DOM
3. 2026-06-17
   days on market $365,750 Active 83 DOM
4. 2026-06-16
   days on market $365,750 Active 82 DOM
5. 2026-06-16
   status $365,750 Active 81 DOM
6. 2026-06-08
   status $365,750 Pending 81 DOM
7. 2026-06-08
   days on market $365,750 Active 81 DOM
8. 2026-06-07
   days on market $365,750 Active 80 DOM
9. 2026-06-07
   days on market $365,750 Active 79 DOM
10. 2026-06-04
    days on market $365,750 Active 77 DOM
11. 2026-06-03
    price $365,750 Active 76 DOM
12. 2026-06-03
    days on market $399,000 Active 76 DOM
13. 2026-06-02
    days on market $399,000 Active 75 DOM
14. 2026-06-01
    days on market $399,000 Active 74 DOM
15. 2026-05-31
    days on market $399,000 Active 73 DOM
16. 2026-04-20
    price $399,000
17. 2026-03-19
    listed $420,000 Active
18. 1983-09-30
    soldstatus $55,950

ⓘ 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: $3,806 · $317/mo
• Projected year-2 tax: $3,806 · $317/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 · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 7/10 Severe 9 unhealthy d/yr today · 12 by 30 yrs out

Taxation est. · year 1

• Rental income: $37,185
• − Mortgage interest: −$20,488
• − Property taxes: −$3,806
• − Insurance: −$1,829
• − Repairs & maintenance: −$2,975
• − Management: −$2,975
• − Depreciation: −$10,640
• Taxable loss: −$5,528
• Est. tax savings @ 24.0%: +$1,327
• After-tax cash flow: $2,051/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: Seattle Public Schools
• NCES district ID: 5307710
• Math proficiency: 64% ▼ -1.00%
• Reading proficiency: 72% ▬ 0.00%
• Median HH income: $68,695
• Composite: 60.76/100
• National rank: #1649
• State rank: #19 of 291 in WA

Livability — Tukwila

• Score: 75/100
• State rank: #165
• US rank: #3938

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Tukwila, WA
• County: King County · 2,251,916 people
• Metro: Seattle-Tacoma-Bellevue, WA
• Population (ZIP): 26,748
• Household income: $99,505
• Rent vs Own: 33.3% rent · 66.7% own
• Severe rent burden: 1035.0

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 0.76)
• Race & ethnicity: Asian 32% White 29% Black 22% Two or more races 10% Hispanic / Latino 9% Native American 1%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Subsaharan African 2% Lithuanian 2% Russian 2%
• Foreign-born: 31% · Vietnam, China, Canada
• Languages at home: 64% English-only · Vietnamese 10% Chinese 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: ▼ -854.35%
• Current HPI: 321.6474
• Rent YoY: ▲ 2.78%
• 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

+613.1% since first listed

3 events — show timeline

• 2026-04-20 Price Changed $399,000 NWMLS as Distributed by MLS Grid
• 2026-03-19 Listed $420,000 NWMLS as Distributed by MLS Grid
• 1983-09-30 Sold (Public Records) $55,950 Public Records

Property tax history

+8.2%/yr

Latest (2025): $3,806 · +685.3% YoY. Source: county tax records.