1936 Pine Cone Ave #87 · Enumclaw, WA 98022

$154,999

3 bd · 2.0 ba · 1,296 sqft · Manufactured · 46 Days on market

Built 1985 Good condition $120/sqft · at area comps Est $150k · at est. ↓ 14% since listing

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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
• ARV discount +6.1/15.0
• 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

Affordable 3 Bedroom 2 Bath Home. Totally Updated and Move in Ready in a Great All Age Community. Open Kitchen with White Cabinets, Newer Counter Tops. New Stainless Appliances. All Newer Interior paint, All Newer Vinyl Plank Flooring, Painted Trim. Newer Roof with Warranty. New Furnace and HVAC System with Heat Pump With Air Conditioning. New Hot Water Tank, Huge Living Room and Dining Room with Ceiling Fan, and Cathedral Ceilings Throughout. Spacious Primary Master Bedroom W/ Huge Walk In Closet. Spacious Primary Master Bathroom with New Sink, Quartz Vanity, Toilet, New Walkin Jacuzzi Shower with Quartz Surround, and 4 Shelf Linen Closet. Other 2 Bedrooms are Large Sized also. Main Guest

Key facts

• New hot water tank
• Cathedral ceilings
• Huge living room

Tags

• OPEN BRIGHT KITCHEN
• NEW STAINLESS APPLIANCES
• NEW FURNACE AND HVAC SYSTEM
• NEW HOT WATER TANK
• HUGE LIVING ROOM
• CATHEDRAL CEILINGS

Property features AI

Finance

• Other: Green feature: Double-pane windows
• Financial info: Listing terms: Cash or Conventional
• HOA & community: Located in Mountain Meadows Community LLC (park-approved for sale); Park amenities include clubhouse, common area, playground, trails, RV parking, high-speed internet available; Approximately 190 homes in the park; Cats and dogs allowed; Land lease: $1,075

Exterior

• Parking: Carport
• Utilities: Electric service (Puget Sound Energy - paid by homeowner); Public water (City of Enumclaw - paid by the park); Sewer (City of Enumclaw - paid by the park); Xfinity basic cable (paid by the park); Xfinity internet (paid by the homeowner)
• Home design: Manufactured double-wide (Fleetwood Berkshire); Updated/remodeled condition; One story; Has a view; Mobile home remains; Skirted with wood
• Construction: Wood construction; Composition roof; Pillar/post/pier foundation with tie-downs; Manufactured house; Manufactured after 6/15/1976
• Exterior features: Wood exterior; Wood products; Awnings; Landscaped; Patio/porch/deck; Paved lot

Interior

• Kitchen: Dishwasher; Refrigerator; Stove/Range
• Bedrooms: 3 bedrooms
• Flooring: Vinyl plank flooring
• Bathrooms: 1 full bath; 1 three-quarter bath; 1 bathtub; 2 showers
• Heating & cooling: Forced air heating; Heat pump; Central air conditioning; High-efficiency forced air cooling
• Interior features: Water heater (electric, located in closet); Vaulted ceilings; Walk-in closet; Dining room, entry, living room, utility room, kitchen with eating space
• Laundry & utility: Washer; Dryer; Utility room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $155k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $770 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $155k).
• Recommended offer: $150k (3.0% below list) — sets the bar for market timing.
• Cap rate 12.8% 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; 9 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).

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 $43k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 46 days — a 3% lower offer ($150k) 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 $150,349 (3.0% below list)

Questions for the listing agent

1. It's been on market 46 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.56% ✓
• Cap rate: 12.77%
• Cash-on-cash: 23.13%
• DSCR: 2.03
• GRM: 5.3

CMA / ARV

• ARV (median comp): $150,303
• List price: $154,999
• Delta: 3.12%
• Verdict: FAIR
• Comps: 12 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
209 Noble Fir Cir #60	0.14mi	3/2.0	1,344 (+4%)	3mo	$150,000	$112	84
1144 Douglas Fir	0.07mi	3/2.0	1,344 (+4%)	11mo	$180,000	$134	82
207 Noble Fir Cir	0.15mi	2/2.0 (-1)	1,344 (+4%)	3mo	$140,000	$104	79
252 Grand Fir Dr #25	0.14mi	3/2.0	1,352 (+4%)	12mo	$185,000	$137	76
206 Noble Fir Cir	0.17mi	2/2.0 (-1)	1,248 (-4%)	11mo	$70,000	$56	72
1106 Mountian Villa Loop	0.24mi	2/2.0 (-1)	1,248 (-4%)	10mo	$90,000	$72	70
201 Grand Fir Dr	0.12mi	3/2.0	1,188 (-8%)	14mo	$144,000	$121	69
1207 Maple Dr	0.18mi	3/2.0	1,456 (+12%)	6mo	$160,000	$110	66
926 Pine Dr	0.33mi	2/2.0 (-1)	1,248 (-4%)	9mo	$119,500	$96	66
943 Pine Dr	0.33mi	3/2.0	1,244 (-4%)	16mo	$210,000	$169	65
933 Mt.Villa	0.32mi	2/2.0 (-1)	1,440 (+11%)	17mo	$75,000	$52	47
830 Pine Dr	0.37mi	2/2.0 (-1)	1,440 (+11%)	17mo	$99,950	$69	45

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: 15.4%
• Equity multiple: 1.63×
• Total profit: $27,255
• Equity at exit: $23,111

10-year hold

• IRR: 25.1%
• Equity multiple: 3.32×
• Total profit: $100,897
• Equity at exit: $13,401

Cash invested: $43,400 (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: 5.3×

Monthly cashflow live

• Estimated rent: $2,415 high
• Mortgage (P&I): −$813
• Tax est. 1.5%: −$194 /mo · $2,325/yr
• Insurance: −$65
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$507
• Net cashflow: $770

Break-even live

Break-even rent $1,440

Max offer price $154,999

Occupancy floor 63%

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: $38,750
• Closing costs: $4,650
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
312 Charwila Ln Enumclaw, WA	2.0	1.0	894	$1,750	$1.96	13d	1	0.40mi
250 Charwila Ln Enumclaw, WA	2.0	1.0	894	$1,750	$1.96	3d	1	0.40mi
847 Blake St Enumclaw, WA	3.0	1.0	1064	$2,000	$1.88	2d	1	0.56mi
124 Jewell St Enumclaw, WA	3.0	1.5	1540	$3,200	$2.08	44d	1	0.63mi
615 Watson St N Unit 617B Enumclaw, WA	2.0	1.0	960	$1,999	$2.08	2d	1	0.74mi
556 Bondgard Ave E Enumclaw, WA	3.0	2.0	1480	$2,995	$2.02	10d	1	1.01mi
1571 Kibler Ave Enumclaw, WA	3.0	2.0	1200	$2,600	$2.17	20d	1	1.16mi
1571 Kibler Ave Enumclaw, WA	3.0	2.0	1200	$2,600	$2.17	15d	1	1.16mi
320 Chinook Ave Enumclaw, WA	2.0–3.0	1.0–2.0	923	$2,283	$2.47	2d	7	1.27mi

Listing history 14 events

1. 2026-06-18
   days on market $154,999 Active 46 DOM
2. 2026-06-17
   days on market $154,999 Active 45 DOM
3. 2026-06-16
   days on market $154,999 Active 44 DOM
4. 2026-06-15
   days on market $154,999 Active 43 DOM
5. 2026-06-13
   pricedays on market $154,999 Active 41 DOM
6. 2026-06-09
   days on market $169,950 Active 37 DOM
7. 2026-06-08
   days on market $169,950 Active 36 DOM
8. 2026-06-07
   days on market $169,950 Active 35 DOM
9. 2026-06-04
   days on market $169,950 Active 32 DOM
10. 2026-06-03
    days on market $169,950 Active 31 DOM
11. 2026-06-02
    days on market $169,950 Active 30 DOM
12. 2026-06-01
    days on market $169,950 Active 29 DOM
13. 2026-05-31
    days on market $169,950 Active 28 DOM
14. 2026-05-03
    listed $179,950 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: $28,977
• − Mortgage interest: −$8,682
• − Property taxes: −$2,325
• − Insurance: −$1,572
• − Repairs & maintenance: −$2,318
• − Management: −$2,318
• − Depreciation: −$4,509
• Taxable income: $7,252
• Est. tax owed @ 24.0%: −$1,741
• After-tax cash flow: $7,500/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 · 12 photos

Good 80/100 Cosmetic rehab

This fully updated and move-in ready manufactured home is in excellent condition with a good condition score of 80. It offers a spacious living area, updated kitchen and bathrooms, and a well-maintained exterior. The home is ready for immediate occupancy and would benefit from a fresh coat of paint and landscaping to further enhance its curb appeal.

Value-add opportunities

• Both Painting exterior — Enhances curb appeal and resale value
• Both Landscaping — Improves curb appeal and rental value
• Both Replace window treatments — Freshens up the interior and improves energy efficiency

Renovation cost estimate screening

Value-add ROI direction

• Both Painting exterior — Enhances curb appeal and resale value ↑
• Both Landscaping — Improves curb appeal and rental value ↑
• Both Replace window treatments — Freshens up the interior and improves 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

-13.9% since first listed

3 events — show timeline

• 2026-06-12 Price Changed $154,999 NWMLS as Distributed by MLS Grid
• 2026-05-23 Price Changed $169,950 NWMLS as Distributed by MLS Grid
• 2026-05-03 Listed $179,950 NWMLS as Distributed by MLS Grid