14605 34th St NE Unit h19 · Bellevue, WA 98007

$295,000

2 bd · 2.0 ba · 955 sqft · Condo public records · 18 Days on market

Built 1976 $309/sqft · 23% below area Est $383k · 23% under $790/mo HOA · 31% of rent

---

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).

• ARV discount +15.0/15.0
• Schools +6.9/10.0
• Cash flow +5.2/30.0
• Livability +4.4/5.0
• 1% rule +3.7/10.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Huge price drop! Location! Location! Location! top floor unit! This 2 bedroom Bellevue Condo is in a Prime location w/ the Microsoft campus across the street, EZ access to Hwy-520 & Hwy-405 & mins from shops, dining & entertainment. The perfect home for First Time Buyers or Investors. (NO RENTAL CAP!) Primary bedroom has double closets & private bath, large 2nd bedroom, good sized living room opens to the deck & dining room w/ LARGE pantry or storage area. Designated parking spot & plenty of guest parking. Community offers: Swimming Pool, tennis court, Cabana w/ exercise room & green spaces all in the Awarding winning Bellevue School District.

Key facts

• Tennis court
• Exercise room
• Swimming pool

Tags

• TOP FLOOR UNIT
• PRIME LOCATION
• DESIGNATED PARKING SPOT
• SWIMMING POOL
• TENNIS COURT
• EXERCISE ROOM

Property features AI

Finance

• Other: Property is residential condominium within Bellevue Manor
• Financial info: Listing terms: Cash
• HOA & community: Monthly HOA fee of $790 covering water, sewer and trash; HOA-managed water and sewer; Community allows cats and dogs; Community contains 215 units; 24 units in building; Association contact: Catherine Fobi

Exterior

• Parking: One uncovered/open parking space
• Security: No security details provided
• Utilities: Electric power (PSE); Water and sewer provided through HOA
• Home design: Attached condominium; One-level condo unit; Unit has a view; Main entry level; Third-floor unit within a three-story building
• Construction: Wood construction; Torch down roof; Effective year built 1976; Condominium structure
• Exterior features: Wood and wood products exterior

Interior

• Kitchen: No specific kitchen appliance details provided
• Bedrooms: Two bedrooms (both on the main level)
• Flooring: No flooring details provided
• Bathrooms: One full bathroom; One half bathroom; One bathtub; One shower
• Heating & cooling: Baseboard heating; No cooling
• Interior features: Electric water heater located in closet; Water heater present
• Laundry & utility: No laundry appliance details provided

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $295k.

Deal economics

• At list price, monthly cash flow is $-666 ($-8k/yr) — negative.
• To cash-flow at today's rent, offer at most $177k (39.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $257k (13.0% below list).
• Recommended offer: $177k (39.9% below list) — sets the bar for cash-flow.
• Cap rate 3.6% vs local median 1.1% in Bellevue — 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 87/100 on livability (#15 in WA, #314 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, employment A+; Watch: cost of living F.
• Bellevue School District (urban): math 73% / reading 79% proficiency, ranked #7 of 291 in WA (top 2%) — strong family-tenant draw, lease renewals of 3-5y typical; only 15% free/reduced lunch — higher-income household profile.
• Zoned schools: Ardmore Elementary School (358 students, 50% FRL); Highland Middle School (618 students, 58% FRL); Interlake Senior High School (1,543 students, 26% FRL) — zoned schools average 45% FRL vs 15% district-wide (30 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents soft (-1.7%/yr); 133 active listings in the ZIP; 40 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; 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 $2k of loan paydown is wiped out by about $9k 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 18 days — a 2% lower offer ($291k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 23y 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.

Risks & watch-outs

• Watch-outs: HOA is 31% of rent.

Recommended offer $177,343 (39.9% 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. Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. Schools are A-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?
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: 0.87% ✗
• Cap rate: 3.58%
• Cash-on-cash: -9.68%
• DSCR: 0.57
• GRM: 9.6

CMA / ARV

• ARV (median comp): $383,173
• List price: $295,000
• Delta: -22.23%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -38.3%
• Equity multiple: -0.18×
• Total profit: $-97,301
• Equity at exit: $43,985

10-year hold

• IRR: -91.3%
• Equity multiple: -1.02×
• Total profit: $-166,617
• Equity at exit: $25,506

Cash invested: $82,600 (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 98007

• Rents YoY: -1.7%
• Active inventory: 133
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $2,566 high
• Mortgage (P&I): −$1,547
• Tax from tax record: −$233 /mo · $2,796/yr
• Insurance: −$123
• HOA: −$790
• Vacancy / Maint / Mgmt: −$539
• Net cashflow: $-666

Break-even live

Break-even rent $3,409

Max offer price $177,343

Occupancy floor —

Sensitivity live

Price	-10% $-499	-5% $-583	+0% $-666	+5% $-750	+10% $-833
Rent	-10% $-869	-5% $-767	+0% $-666	+5% $-565	+10% $-463
Rate	-1.0pp $-517	-0.5pp $-591	base $-666	+0.5pp $-742	+1.0pp $-820

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: $73,750
• Closing costs: $8,850
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
14605 NE 34th St Unit H22 Bellevue, WA	2.0	1.5	955	$2,000	$2.09	26d	1	0.03mi
14625 NE 34th St Unit G15 Bellevue, WA	3.0	2.0	1062	$2,800	$2.64	45d	1	0.04mi
14620 NE 32nd St Unit F7 Bellevue, WA	3.0	2.0	1062	$3,500	$3.30	45d	1	0.05mi
14665 NE 34th St Unit B21 Bellevue, WA	1.0	1.0	684	$1,990	$2.91	26d	1	0.06mi
14620 NE 31st St Bellevue, WA	1.0	1.0	680	$1,892	$2.78	45d	2	0.13mi
14700 NE 35th St Bellevue, WA	1.0–3.0	1.0–2.5	924	$2,995	$3.24	1d	19	0.13mi
14620 NE 31st St Unit E304 Bellevue, WA	1.0	1.0	680	$1,995	$2.93	26d	1	0.13mi
14620 NE 31st St Unit F205 Bellevue, WA	1.0	1.0	680	$2,000	$2.94	26d	1	0.13mi
14620 NE 31st St Unit E-305 Bellevue, WA	1.0	1.0	680	$1,995	$2.93	18d	1	0.13mi
14515 NE 32nd St Unit H-202 Bellevue, WA	2.0	1.0	890	$2,499	$2.81	45d	1	0.14mi
3615 147th Pl NE Bellevue, WA	1.0–2.0	1.0	862	$2,710	$3.14	0d	10	0.22mi
14629 NE 37th Pl Bellevue, WA	1.0–2.0	1.0	736	$2,370	$3.22	0d	10	0.25mi
14537 NE 40th St Unit 104 Bellevue, WA	2.0	2.0	1080	$2,750	$2.55	1d	1	0.38mi
14527 NE 40th St Unit G101 Bellevue, WA	2.0	1.0	900	$2,299	$2.55	4d	1	0.40mi
14425 NE 40th St Bellevue, WA	2.0	2.0	1080	$2,750	$2.55	45d	1	0.41mi
14710 NE 40th St Bellevue, WA	1.0–2.0	1.0–2.0	976	$3,228	$3.31	0d	22	0.44mi
2808 Calder Ave NE Redmond, WA	2.0	1.0–2.0	873	$3,865	$4.42	0d	40	0.55mi
2690 152nd Ave NE Redmond, WA	3.0	1.0–2.0	1111	$3,212	$2.89	1d	1	0.55mi
15301 NE Turing St Redmond, WA	2.0	1.0–2.0	923	$3,801	$4.12	1d	1	0.61mi
4277 148th Ave NE Bellevue, WA	1.0–2.0	1.0–2.0	781	$2,838	$3.63	1d	10	0.65mi
15551 NE Turing St Redmond, WA	2.0	1.0–2.0	868	$3,730	$4.30	1d	34	0.66mi
2710 Tagore Ave NE Redmond, WA	3.0	1.0–2.0	856	$1,919	$2.24	0d	9	0.67mi
2651 156th Ave NE Redmond, WA	2.0	1.0–2.0	908	$3,975	$4.38	1d	14	0.71mi
15602 NE 40th St Redmond, WA	3.0	1.0–2.0	935	$3,332	$3.56	1d	1	0.72mi
2222 152nd Ave NE Redmond, WA	2.0	2.0	1059	$2,850	$2.69	45d	2	0.75mi
15606 NE 40th St Bldg Z Redmond, WA	1.0	1.0	664	$3,120	$4.70	22d	1	0.86mi
15350 Bel Red Rd Redmond, WA	2.0	1.0–2.0	824	$3,865	$4.69	1d	10	0.87mi
15566 NE 22 Pl #910 Bellevue, WA	1.0–2.0	1.0–2.0	832	$3,320	$3.99	45d	2	0.88mi
2170 Bel-Red Rd Bellevue, WA	2.0	1.0–2.0	867	$3,802	$4.39	1d	20	0.88mi
15606 NE 40th St Redmond, WA	1.0–3.0	1.0–2.0	964	$2,951	$3.06	1d	1	0.91mi
2030 155th Pl NE Bellevue, WA	2.0	1.0–2.0	830	$3,641	$4.38	0d	54	0.94mi
4850 156th Ave NE Redmond, WA	1.0–2.0	1.0–2.0	850	$2,903	$3.42	1d	17	1.06mi
15207 NE 16th Pl Bellevue, WA	2.0	1.0–2.0	704	$2,600	$3.69	1d	25	1.19mi
16539 NE 35th Ct Redmond, WA	1.0–3.0	1.0–2.0	818	$2,468	$3.02	1d	11	1.23mi
1616 156th Ave NE Bellevue, WA	1.0	1.0	445	$1,994	$4.48	14d	10	1.26mi
1400 154th Ave NE #4303 Bellevue, WA	1.0	1.0	700	$1,850	$2.64	45d	1	1.30mi
15309 NE 13th Pl Bellevue, WA	2.0	1.0–2.0	726	$2,597	$3.58	0d	19	1.33mi
15750 NE 15th St Bellevue, WA	1.0	1.0	451	$1,736	$3.84	5d	6	1.34mi
13238 NE Spring Blvd Bellevue, WA	2.0	1.0–2.0	696	$3,870	$5.56	1d	21	1.36mi
1468 158th Ct NE #703 Bellevue, WA	3.0	2.0	1050	$2,900	$2.76	26d	1	1.40mi

HOA detail condo

• Monthly dues: $790 · $9,480/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 43 events

1. 2026-06-21
   days on market $295,000 Active 18 DOM
2. 2026-06-18
   days on market $295,000 Active 15 DOM
3. 2026-06-17
   days on market $295,000 Active 14 DOM
4. 2026-06-16
   days on market $295,000 Active 13 DOM
5. 2026-06-15
   days on market $295,000 Active 12 DOM
6. 2026-06-13
   days on market $295,000 Active 10 DOM
7. 2026-06-09
   days on market $295,000 Active 6 DOM
8. 2026-06-08
   days on market $295,000 Active 5 DOM
9. 2026-06-07
   days on market $295,000 Active 4 DOM
10. 2026-06-04
    pricedays on marketlisting id $295,000 Active 1 DOM
11. 2026-06-02
    days on market $298,000 Active 120 DOM
12. 2026-06-01
    days on market $298,000 Active 119 DOM
13. 2026-05-31
    days on market $298,000 Active 118 DOM
14. 2026-05-07
    price $298,000
15. 2026-04-29
    price $310,000
16. 2026-04-09
    price $320,000
17. 2026-02-02
    listed $330,000 Active
18. 2018-02-28
    soldstatus $330,000 Sold
19. 2018-02-28
    soldstatus $330,000
20. 2018-01-28
    status Pending
21. 2018-01-18
    listed $299,990 Active
22. 2015-12-15
    soldstatus $199,000 Sold
23. 2015-11-30
    status Pending
24. 2015-11-02
    price $207,000
25. 2015-10-28
    status Active
26. 2015-10-27
    status Pending
27. 2015-10-08
    listed $222,000 Active
28. 2011-10-07
    soldstatus $115,000 Sold
29. 2011-09-29
    status Pending
30. 2011-09-20
    status Pending Inspection
31. 2011-09-06
    status Active
32. 2011-09-03
    historical Expired
33. 2011-08-11
    listed $115,000 Active
34. 2006-06-27
    soldstatus $191,000 Closed
35. 2006-06-27
    soldstatus $191,000
36. 2006-05-25
    historical
37. 2006-05-18
    price $195,000
38. 2006-04-27
    listed $199,500
39. 2003-10-17
    soldstatus $110,000
40. 2003-10-17
    soldstatus $110,000
41. 2003-09-11
    listed $111,950
42. 1999-05-14
    soldstatus $87,000
43. 1979-09-12
    soldstatus $41,000

ⓘ 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: $2,796 · $233/mo
• Projected year-2 tax: $2,891 · $241/mo
• Expected delta: +$95/yr (+$8/mo · 3.4%)

ⓘ 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 · 13 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,788
• − Mortgage interest: −$16,525
• − Property taxes: −$2,796
• − Insurance: −$1,475
• − Repairs & maintenance: −$2,463
• − Management: −$2,463
• − HOA: −$9,480
• − Depreciation: −$8,582
• Taxable loss: −$12,995
• Est. tax savings @ 24.0%: +$3,119
• After-tax cash flow: $-4,874/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: Bellevue School District
• NCES district ID: 5300390
• Math proficiency: 73% ▼ -2.00%
• Reading proficiency: 79% ▬ 0.00%
• Median HH income: $92,676
• Composite: 69.36/100
• National rank: #622
• State rank: #7 of 291 in WA

Livability — Bellevue

• Score: 87/100
• State rank: #15
• US rank: #314

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bellevue, WA
• County: King County · 2,251,916 people
• City population: 156,686
• Metro: Seattle-Tacoma-Bellevue, WA
• Population (ZIP): 27,692
• Household income: $131,109
• Rent vs Own: 64.4% rent · 35.6% own
• Severe rent burden: 1260.0

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: Asian 46% White 31% Hispanic / Latino 12% Two or more races 9% Black 5%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Scotch-Irish 2% Lithuanian 1% Italian 1%
• Foreign-born: 52% · China, Canada, Vietnam
• Languages at home: 43% English-only · Other Indo-European 16% Other Asian/Pacific 12% Chinese 9%

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: ▼ -886.99%
• Current HPI: 424.8727
• Rent YoY: ▼ -1.74%
• 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

+619.5% since first listed

27 events — show timeline

• 2026-06-03 Listed $295,000 NWMLS as Distributed by MLS Grid
• 2018-02-28 Sold (Public Records) $330,000 Public Records
• 2018-02-28 Sold (MLS) $330,000 NWMLS as Distributed by MLS Grid
• 2018-01-28 Pending — NWMLS as Distributed by MLS Grid
• 2018-01-18 Listed $299,990 NWMLS as Distributed by MLS Grid
• 2015-12-15 Sold (MLS) $199,000 NWMLS as Distributed by MLS Grid
• 2015-11-30 Pending — NWMLS as Distributed by MLS Grid
• 2015-11-02 Price Changed $207,000 NWMLS as Distributed by MLS Grid
• 2015-10-28 Relisted — NWMLS as Distributed by MLS Grid
• 2015-10-27 Pending — NWMLS as Distributed by MLS Grid
• 2015-10-08 Listed $222,000 NWMLS as Distributed by MLS Grid
• 2011-10-07 Sold (MLS) $115,000 NWMLS as Distributed by MLS Grid
• 2011-09-29 Pending — NWMLS as Distributed by MLS Grid
• 2011-09-20 Pending — NWMLS as Distributed by MLS Grid
• 2011-09-06 Relisted — NWMLS as Distributed by MLS Grid
• 2011-09-03 Delisted — NWMLS as Distributed by MLS Grid
• 2011-08-11 Listed $115,000 NWMLS as Distributed by MLS Grid
• 2006-06-27 Sold (Public Records) $191,000 Public Records
• 2006-06-27 Sold (MLS) $191,000 NWMLS as Distributed by MLS Grid
• 2006-05-25 Delisted — NWMLS as Distributed by MLS Grid
• 2006-05-18 Price Changed $195,000 NWMLS as Distributed by MLS Grid
• 2006-04-27 Listed $199,500 NWMLS as Distributed by MLS Grid
• 2003-10-17 Sold (Public Records) $110,000 Public Records
• 2003-10-17 Sold (MLS) $110,000 NWMLS as Distributed by MLS Grid
• 2003-09-11 Listed $111,950 NWMLS as Distributed by MLS Grid
• 1999-05-14 Sold (Public Records) $87,000 Public Records
• 1979-09-12 Sold (Public Records) $41,000 Public Records

Property tax history

+4.9%/yr

Latest (2025): $2,796 · -8.1% YoY. Source: county tax records.