337 Redwood St · Enumclaw, WA 98022

$175,000

3 bd · 2.0 ba · 1,960 sqft · Manufactured · 28 Days on market

Built 2004 Good condition Est $212k · 17% under

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Why this score? — see what drove the A- 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +5.5/10.0
• Livability +4.4/5.0
• Condition / age +4.0/5.0
• Rent growth +3.6/5.0
• Appreciation +0.0/10.0

Listing remarks

Live in the desirable area of Enumclaw with so much to do! Breathe the fresh mountain air and enjoy the community feel that offers something for everyone! Located close to shopping, cofee shops and all types of activites. Never a boring day in this beautiful community. This unit is nestled on a quite corner with 3 bedroom, 2 bathrooms with aluminum wheelchair access new in 2025 and installed grip bars throughout for safety for new buyers. New roof in 2025. Privately fenced, vaulted ceilings, electric foreced air heating, ceiling fans, laminate vinyl floors and bright open kitchen for those who enjoy cooking and entertaining. Mountain Meadows Community - All Age Park - Space Rent $1,190.

Key facts

• Wheelchair access
• Privately fenced
• Installed grip bars

Tags

• CLOSE TO SHOPPING
• WHEELCHAIR ACCESS
• INSTALLED GRIP BARS
• NEW ROOF
• PRIVATELY FENCED
• VAULTED CEILINGS

Property features AI

Finance

• Other: Estimated building area: 1,960; Mobile home remains
• Financial info: Accepts Cash and Conventional financing
• HOA & community: Located in Mountain Meadows park; Park amenities: Clubhouse, common area, trails; Park approved for sale; Land lease: $1,190

Exterior

• Parking: 2 open uncovered parking spaces
• Security: Security system
• Utilities: Public water; Public sewer; Electric power (PSE); Energy sources: Electric and wood
• Home design: Manufactured double-wide home (Fleetwood model 28/70); One level; Very good condition; Accessible entrance
• Construction: Wood construction; Composition roof; Wood skirt; Manufactured after 06/15/1976
• Exterior features: Corner lot; Paved lot; Wood exterior products; Patio/porch/deck

Interior

• Kitchen: Dishwasher; Stove/Range; Refrigerator
• Bedrooms: 3 bedrooms
• Flooring: Laminate; Vinyl; Carpet
• Bathrooms: 2 full bathrooms; 2 bathtubs; 2 showers
• Heating & cooling: Forced air heating; No central cooling
• Interior features: Fireplace (wood burning); Water heater; Accessible approach with ramp and accessible entrance; Vaulted ceilings; Ceiling fan(s); Jetted/soaking tub; Bath off primary; Patio/porch/deck
• Laundry & utility: Washer; Dryer; Utility room with electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $175k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $175k).
• Recommended offer: $172k (1.5% below list) — sets the bar for market timing.
• Cap rate 14.7% vs local median 2.4% in Enumclaw — 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 88/100 on livability (#12 in WA, #222 nationally) — a professional / high-income tenant draw. Strengths: crime A+, amenities A+, housing A+; Watch: cost of living D-.
• Enumclaw School District (suburban): math 54% / reading 68% proficiency, ranked #46 of 291 in WA (top 16%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Southwood Elementary School (345 students, 38% FRL); Enumclaw Sr High School (1,339 students, 28% FRL).
• Market conditions: Rents rising fast (+4.3%/yr); 223 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 11d 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).
• This rent runs 31% of the median local income ($120k/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 $1k of loan paydown is wiped out by about $5k 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 + 4.3% rent growth), your $49k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($172k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $172,375 (1.5% below list)

Questions for the listing agent

1. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 1.76% ✓
• Cap rate: 14.72%
• Cash-on-cash: 30.08%
• DSCR: 2.34
• GRM: 4.7

CMA / ARV

• ARV (on-the-fly): $211,680
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1953 Pine Cone Ave #106	0.10mi	4/2.0 (+1)	1,848 (-6%)	4mo	$220,000	$119	77
250 Holly Dr	0.19mi	3/2.0	1,848 (-6%)	6mo	$220,000	$119	77
298 Holly Dr #57	0.22mi	2/2.0 (-1)	1,848 (-6%)	8mo	$145,000	$78	68
191 Grand Fir Dr	0.13mi	3/2.0	1,716 (-12%)	17mo	$185,000	$108	59
271 Grand Fir Dr #31	0.20mi	4/2.0 (+1)	1,848 (-6%)	23mo	$197,950	$107	57

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 · 4.32% rent growth · sell at horizon

5-year hold

• IRR: 24.3%
• Equity multiple: 2.02×
• Total profit: $49,879
• Equity at exit: $26,093

10-year hold

• IRR: 33.0%
• Equity multiple: 4.20×
• Total profit: $156,574
• Equity at exit: $15,131

Cash invested: $49,000 (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 98022

• Rents YoY: 4.3%
• Active inventory: 223
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $3,086 medium
• Mortgage (P&I): −$918
• Tax est. 1.5%: −$219 /mo · $2,625/yr
• Insurance: −$73
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$648
• Net cashflow: $1,162

Break-even live

Break-even rent $1,615

Max offer price $175,000

Occupancy floor 57%

Sensitivity live

Price	-10% $1,283	-5% $1,222	+0% $1,162	+5% $1,101	+10% $1,041
Rent	-10% $918	-5% $1,040	+0% $1,162	+5% $1,284	+10% $1,406
Rate	-1.0pp $1,250	-0.5pp $1,206	base $1,162	+0.5pp $1,116	+1.0pp $1,070

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
124 Jewell St Enumclaw, WA	3.0	1.5	1540	$3,200	$2.08	44d	1	0.53mi
556 Bondgard Ave E Enumclaw, WA	3.0	2.0	1480	$2,995	$2.02	10d	1	0.92mi
46039 284th Ave SE Enumclaw, WA	4.0	2.0	2000	$3,500	$1.75	2d	1	1.21mi

Listing history 15 events

1. 2026-06-18
   days on market $175,000 Active 28 DOM
2. 2026-06-17
   days on market $175,000 Active 27 DOM
3. 2026-06-16
   days on market $175,000 Active 26 DOM
4. 2026-06-15
   days on market $175,000 Active 25 DOM
5. 2026-06-13
   days on market $175,000 Active 23 DOM
6. 2026-06-09
   remarks 696-char remark
7. 2026-06-09
   days on market $175,000 Active 19 DOM
8. 2026-06-08
   days on market $175,000 Active 18 DOM
9. 2026-06-07
   days on market $175,000 Active 17 DOM
10. 2026-06-04
    days on market $175,000 Active 14 DOM
11. 2026-06-03
    days on market $175,000 Active 13 DOM
12. 2026-06-02
    days on market $175,000 Active 12 DOM
13. 2026-06-01
    days on market $175,000 Active 11 DOM
14. 2026-05-31
    days on market $175,000 Active 10 DOM
15. 2026-05-21
    listed $175,000 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 8/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥87°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 6/10 Major 10 unhealthy d/yr today · 12 by 30 yrs out

Taxation est. · year 1

• Rental income: $37,028
• − Mortgage interest: −$9,803
• − Property taxes: −$2,625
• − Insurance: −$1,672
• − Repairs & maintenance: −$2,962
• − Management: −$2,962
• − Depreciation: −$5,091
• Taxable income: $11,912
• Est. tax owed @ 24.0%: −$2,859
• After-tax cash flow: $11,083/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 · 30 photos

Good 80/100 Cosmetic rehab

This well-maintained, updated home in Enumclaw offers a great living space with modern amenities and a private yard.

Value-add opportunities

• Resale Paint exterior — Enhances curb appeal and value
• Rental Replace window screens — Improves comfort and energy efficiency

Renovation cost estimate screening

Value-add ROI direction

• Resale Paint exterior — Enhances curb appeal and value ↑
• Rental Replace window screens — Improves comfort and energy efficiency ↑

ⓘ 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: Enumclaw School District
• NCES district ID: 5300001
• Math proficiency: 54% ▼ -1.00%
• Reading proficiency: 68% ▬ 0.00%
• Median HH income: $68,441
• Composite: 55.21/100
• National rank: #2736
• State rank: #46 of 291 in WA

Livability — Enumclaw

• Score: 88/100
• State rank: #12
• US rank: #222

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Enumclaw, WA
• County: King County · 2,251,916 people
• City population: 22,418
• Metro: Seattle-Tacoma-Bellevue, WA
• Population (ZIP): 22,418
• Household income: $120,406
• Rent vs Own: 18.8% rent · 81.2% own
• Severe rent burden: 382.0

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: Predominantly White (78%)
• Race & ethnicity: White 78% Hispanic / Latino 10% Two or more races 9% Asian 2% Native American 2%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Portuguese 7% Italian 4% Slovak 3%
• Foreign-born: 6% · Canada
• Languages at home: 91% English-only · Spanish 6% Other Indo-European 1% German/W. Germanic 1%

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: ▼ -605.16%
• Current HPI: 297.9161
• Rent YoY: ▲ 4.32%
• 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 $175,000 NWMLS as Distributed by MLS Grid