785 Dogwood Pl · Enumclaw, WA 98022

$135,000

3 bd · 2.0 ba · 1,848 sqft · Manufactured · 51 Days on market

Built 1984 Good condition $73/sqft · 25% below area Est $180k · 25% 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 +3.8/5.0
• Rent growth +3.6/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to the highly sought-after 55+ Mountain Villa community in the heart of Enumclaw! This beautifully maintained 1,848 SF home offers effortless main-level living with 3 bedrooms and 1.75 bathrooms. Step inside to an expansive living room with vaulted ceilings and a dedicated dining area, creating a bright and airy feel. The open-concept kitchen features a built-in buffet counter and flows seamlessly into the cozy family room, highlighted by a charming wood-burning fireplace with a striking rock accent wall and mantle. The spacious primary suite includes a walk-in closet and a private en-suite bath, providing a comfortable retreat. Updates include luxury vinyl plank flooring, vinyl dou

Key facts

• Open-concept kitchen
• Walk-in closet
• Rock accent wall

Tags

• MAIN-LEVEL LIVING
• OPEN-CONCEPT KITCHEN
• WOOD-BURNING FIREPLACE
• ROCK ACCENT WALL
• WALK-IN CLOSET
• PRIVATE EN-SUITE BATH

Property features AI

Finance

• Other: Senior community designation noted
• Financial info: Land lease payment required ($1,628); Cash offers only (listing terms)
• HOA & community: Located in Mountain Villa Estates (manufactured home park); Park approved for sale; 187 homes in the park; Park amenities include BBQs, clubhouse, and common area

Exterior

• Parking: Carport; RV parking available in park
• Utilities: Electric energy source; Public water (City of Enumclaw); Public sewer (City of Enumclaw); PSE power
• Home design: Manufactured double-wide home; One story; Vaulted ceilings; Bath off primary; Walk-in closet; Ceiling fans; Double pane windows; Mobile home remains
• Construction: Metal/vinyl construction; Composition roof
• Exterior features: Metal/vinyl exterior; Awnings; Landscaped yard; Patio/porch/deck; Secluded setting; Cul-de-sac lot; Has view

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator; Stove/Range
• Bedrooms: 3 bedrooms
• Flooring: Laminate; Carpet
• Bathrooms: 1 full bath; 1 three-quarter bath; 1 bathtub; 2 showers
• Heating & cooling: Forced air heating
• Interior features: Fireplace (wood-burning)
• Laundry & utility: Washer; Dryer; Utility room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $135k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $1k ($18k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $135k).
• Recommended offer: $131k (3.0% below list) — sets the bar for market timing.
• Cap rate 19.6% 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.
• Market conditions: Rents rising fast (+4.3%/yr); 227 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 $933 of loan paydown is wiped out by about $4k 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 $38k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 51 days — a 3% lower offer ($131k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 21y 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

• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $130,950 (3.0% below list)

Questions for the listing agent

1. It's been on market 51 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. 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: 2.27% ✓
• Cap rate: 19.56%
• Cash-on-cash: 47.40%
• DSCR: 3.11
• GRM: 3.7

CMA / ARV

• ARV (median comp): $179,953
• List price: $135,000
• Delta: -24.98%
• Verdict: UNDERPRICED
• Comps: 11 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1953 Pine Cone Ave #106	0.41mi	4/2.0 (+1)	1,848 (0%)	4mo	$220,000	$119	72
250 Holly Dr	0.55mi	3/2.0	1,848 (0%)	6mo	$220,000	$119	69
298 Holly Dr #57	0.58mi	2/2.0 (-1)	1,848 (0%)	8mo	$145,000	$78	61
821 Pine Dr	0.09mi	2/2.0 (-1)	1,583 (-14%)	13mo	$125,000	$79	56
191 Grand Fir Dr	0.50mi	3/2.0	1,716 (-7%)	17mo	$185,000	$108	51
271 Grand Fir Dr #31	0.56mi	4/2.0 (+1)	1,848 (0%)	23mo	$197,950	$107	50
400 Grand Fir Dr #94	0.48mi	4/2.0 (+1)	1,620 (-12%)	11mo	$210,000	$130	42

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: 46.3%
• Equity multiple: 3.05×
• Total profit: $77,399
• Equity at exit: $20,129

10-year hold

• IRR: 52.6%
• Equity multiple: 6.49×
• Total profit: $207,457
• Equity at exit: $11,672

Cash invested: $37,800 (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: 227
• Price-to-rent: 3.7×

Monthly cashflow live

• Estimated rent: $3,071 medium
• Mortgage (P&I): −$708
• Tax est. 1.5%: −$169 /mo · $2,025/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$645
• Net cashflow: $1,493

Break-even live

Break-even rent $1,181

Max offer price $135,000

Occupancy floor 46%

Sensitivity live

Price	-10% $1,586	-5% $1,540	+0% $1,493	+5% $1,446	+10% $1,400
Rent	-10% $1,250	-5% $1,372	+0% $1,493	+5% $1,614	+10% $1,736
Rate	-1.0pp $1,561	-0.5pp $1,527	base $1,493	+0.5pp $1,458	+1.0pp $1,423

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: $33,750
• Closing costs: $4,050
• 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	0.29mi
556 Bondgard Ave E Enumclaw, WA	3.0	2.0	1480	$2,995	$2.02	11d	1	0.64mi
46039 284th Ave SE Enumclaw, WA	4.0	2.0	2000	$3,500	$1.75	0d	1	1.01mi

Listing history 20 events

1. 2026-06-21
   days on market $135,000 Active 51 DOM
2. 2026-06-18
   days on market $135,000 Active 48 DOM
3. 2026-06-17
   days on market $135,000 Active 47 DOM
4. 2026-06-16
   days on market $135,000 Active 46 DOM
5. 2026-06-15
   days on market $135,000 Active 45 DOM
6. 2026-06-13
   days on market $135,000 Active 43 DOM
7. 2026-06-09
   days on market $135,000 Active 39 DOM
8. 2026-06-08
   days on market $135,000 Active 38 DOM
9. 2026-06-07
   days on market $135,000 Active 37 DOM
10. 2026-06-04
    days on market $135,000 Active 34 DOM
11. 2026-06-03
    days on market $135,000 Active 33 DOM
12. 2026-06-02
    days on market $135,000 Active 32 DOM
13. 2026-06-01
    days on market $135,000 Active 31 DOM
14. 2026-05-31
    days on market $135,000 Active 30 DOM
15. 2026-05-01
    listed $135,000 Active
16. 2023-05-15
    soldstatus $119,950 Closed
17. 2023-05-07
    status Pending
18. 2023-04-20
    listed $119,950 Active
19. 2005-07-21
    soldstatus $71,500
20. 2005-03-01
    listed $74,999

ⓘ 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 5/10 Major FEMA zone X (unshaded) · 55% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥87°F today · 15 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: $36,852
• − Mortgage interest: −$7,562
• − Property taxes: −$2,025
• − Insurance: −$675
• − Repairs & maintenance: −$2,948
• − Management: −$2,948
• − Depreciation: −$3,927
• Taxable income: $16,766
• Est. tax owed @ 24.0%: −$4,024
• After-tax cash flow: $13,893/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 75/100 Cosmetic rehab

This well-maintained 1,848 SF manufactured home in Enumclaw offers a good condition with minimal repairs needed. It's ready for a fresh coat of paint to enhance its curb appeal and replace ceiling fans for improved comfort and energy efficiency.

Value-add opportunities

• Resale paint exterior — enhances curb appeal
• Rental replace ceiling fans — improves comfort and energy efficiency

Renovation cost estimate screening

Value-add ROI direction

• Resale paint exterior — enhances curb appeal ↑
• Rental replace ceiling fans — 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

+80.0% since first listed

6 events — show timeline

• 2026-05-01 Listed $135,000 NWMLS as Distributed by MLS Grid
• 2023-05-15 Sold (MLS) $119,950 NWMLS as Distributed by MLS Grid
• 2023-05-07 Pending — NWMLS as Distributed by MLS Grid
• 2023-04-20 Listed $119,950 NWMLS as Distributed by MLS Grid
• 2005-07-21 Sold (MLS) $71,500 NWMLS as Distributed by MLS Grid
• 2005-03-01 Listed $74,999 NWMLS as Distributed by MLS Grid