3611 I St NE #75 · Auburn, WA 98002

$55,000

3 bd · 2.0 ba · 1,440 sqft · Manufactured · 42 Days on market

Built 1978

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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 +7.5/15.0
• Schools +4.7/10.0
• Livability +4.0/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

NEW PRICE! Welcome to The River Estates, a serene 55+ community! This home offers 3 bedrooms, 2 bathrooms, with 1,440 square feet of living space. This is a great opportunity for an investor or someone with a vision. The home has a new furnace and offers lots of potential. Covered carport for two cars. Ideally located just minutes from the Green River & Highway 167, this home offers the perfect balance of serene living & easy access to nearby conveniences. Cash offers only!

Key facts

• New furnace
• Covered carport
• 2 parking spots

Tags

• NEW FURNACE
• COVERED CARPORT
• MINUTES FROM GREEN RIVER

Property features AI

Finance

• Other: Manufactured home park approved for sale
• Financial info: Land lease: $920; Listing terms: Cash
• HOA & community: Senior community; Senior exemption eligible; Park name: The River; Park amenities: Clubhouse, common area, community waterfront, high-speed internet available, pool, recreational area, RV parking, sauna, sidewalks, spa/hot tub, trails

Exterior

• Parking: Carport; RV parking (park amenities)
• Utilities: Electric energy source; Public water (through park); Sewer through park; PSE power company; Electric water heater
• Home design: Manufactured double-wide; One level; Has a view; Mobile home remains
• Construction: Metal/vinyl construction materials; Composition roof; Tie-down foundation; Manufactured house structure
• Exterior features: Metal/vinyl exterior; Paved lot

Interior

• Kitchen: Dishwasher; Refrigerator; Stove/Range
• Bedrooms: 3 bedrooms
• Flooring: Vinyl; Carpet
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Water heater; Skylights; Drapes; Landscaped; Patio/porch/deck; Awnings; Bath off primary
• Laundry & utility: Utility room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $55k.

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 ($2k rent vs $55k).
• Recommended offer: $53k (3.0% below list) — sets the bar for market timing.
• Cap rate 34.6% vs local median 2.7% in Auburn — 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 81/100 on livability (#75 in WA, #1,371 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, employment A+; Watch: crime F, cost of living F.
• Auburn School District (urban): math 47% / reading 56% proficiency, ranked #125 of 291 in WA (top 43%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+1.5%/yr); 171 active listings in the ZIP; 20 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 32% of the median local income ($79k/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 $380 of loan paydown is wiped out by about $2k 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 + 1.5% rent growth), your $15k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 42 days — a 3% lower offer ($53k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 23y ago; this cycle's ask has dropped $4k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $8k; list at $55k implies a 633% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $152/mo.
• Climate carrying-cost: in FEMA flood zone AH (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $53,350 (3.0% below list)

Questions for the listing agent

1. It's been on market 42 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 3.86% ✓
• Cap rate: 34.56%
• Cash-on-cash: 100.95%
• DSCR: 5.49
• GRM: 2.2

CMA / ARV

• ARV (on-the-fly): $152,640
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3611 I St NE #162	0.05mi	3/2.0	1,456 (+1%)	4mo	$148,000	$102	93
3611 I St NE #180	0.00mi	3/2.0	1,440 (0%)	12mo	$220,000	$153	90
3611 I St NE #72	0.05mi	3/2.0	1,500 (+4%)	2mo	$85,000	$57	89
3611 I St NE #16	0.20mi	3/2.0	1,456 (+1%)	1mo	$155,000	$106	88
3611 I St NE #291	0.00mi	2/2.0 (-1)	1,380 (-4%)	8mo	$175,000	$127	81
3611 I St #39	0.20mi	2/2.0 (-1)	1,536 (+7%)	0mo	$30,000	$20	74
3611 I St NE #237	0.20mi	2/2.0 (-1)	1,536 (+7%)	1mo	$140,300	$91	74
3611 I St NE #218	0.20mi	2/2.0 (-1)	1,488 (+3%)	14mo	$55,000	$37	68
3611 I St NE #91	0.00mi	2/1.5 (-1)	1,232 (-14%)	3mo	$138,000	$112	67
3611 I St NE #26	0.20mi	2/2.0 (-1)	1,344 (-7%)	12mo	$175,000	$130	64
3611 I St NE #304	0.20mi	2/2.0 (-1)	1,344 (-7%)	12mo	$122,000	$91	64
3611 I St NE #247	0.20mi	2/2.0 (-1)	1,560 (+8%)	14mo	$167,500	$107	60

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 · 1.51% rent growth · sell at horizon

5-year hold

• IRR: 87.9%
• Equity multiple: 4.95×
• Total profit: $60,906
• Equity at exit: $8,201

10-year hold

• IRR: 90.6%
• Equity multiple: 9.76×
• Total profit: $134,844
• Equity at exit: $4,755

Cash invested: $15,400 (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 98002

• Rents YoY: 1.5%
• Active inventory: 171
• Price-to-rent: 2.2×

Monthly cashflow live

• Estimated rent: $2,121 high
• Mortgage (P&I): −$288
• Tax est. 1.5%: −$69 /mo · $825/yr
• Insurance: −$23
• Flood insurance flood zone: −$152 /mo · $1,824/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$445
• Net cashflow: $1,143

Break-even live

Break-even rent $674

Max offer price $55,000

Occupancy floor 41%

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: $13,750
• Closing costs: $1,650
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
802 45th St NE Auburn, WA	1.0–3.0	1.0–2.0	895	$1,999	$2.23	1d	11	0.60mi
987 26th Pl NE Auburn, WA	2.0	1.5	939	$1,795	$1.91	24d	1	0.65mi
2602 J St NE Auburn, WA	2.0	1.0	897	$1,972	$2.20	2d	10	0.67mi
2556 M Pl NE Unit 2556MPC Auburn, WA	2.0	1.0	1000	$1,895	$1.90	19d	1	0.69mi
2545 M Pl NE Unit 2545MPC Auburn, WA	2.0	1.0	1000	$1,895	$1.90	24d	1	0.70mi
2502 M St NE Unit 2502MA Auburn, WA	2.0	1.0	910	$2,050	$2.25	2d	1	0.74mi
4750 Auburn Way N Auburn, WA	1.0–4.0	1.0–2.0	1011	$2,417	$2.39	1d	10	0.79mi
2441 I St NE Auburn, WA	2.0	1.0	910	$1,795	$1.97	14d	1	0.79mi
2414 N St NE Unit C Auburn, WA	3.0	1.0	1271	$1,950	$1.53	24d	1	0.80mi
2409 N St NE Auburn, WA	2.0	1.0	900	$1,950	$2.17	14d	1	0.80mi
2319 L St NE Unit 2319LB Auburn, WA	2.0	1.0	895	$1,995	$2.23	2d	1	0.82mi
2315 L St NE Unit 2315LA Auburn, WA	2.0	1.0	990	$1,995	$2.02	2d	1	0.83mi
2317 I St NE Unit 2319 Auburn, WA	3.0	2.0	1400	$2,275	$1.62	24d	1	0.89mi
2222 L St NE Unit 2222LA Auburn, WA	2.0	1.0	895	$1,995	$2.23	2d	1	0.89mi
1462 51st Pl NE Auburn, WA	3.0	2.5	1539	$2,900	$1.88	2d	1	0.92mi
2212 O St NE Unit D Auburn, WA	3.0	1.0	1000	$1,925	$1.93	21d	1	0.92mi
1741 22nd St NE Auburn, WA	1.0–3.0	1.0–2.0	902	$1,650	$1.83	2d	2	1.00mi
2025 M St NE Unit 2045 Auburn, WA	2.0	1.5	1248	$2,095	$1.68	21d	1	1.01mi
1015 18th St NE Unit 931 935 1001 1007 Auburn, WA	2.0	1.0	900	$1,699	$1.89	24d	1	1.08mi
1413 12th St NE Unit ADU Auburn, WA	3.0	1.0	1000	$2,400	$2.40	4d	1	1.46mi

Listing history 8 events

1. 2026-05-15
   status Pending
2. 2026-05-01
   price $55,000
3. 2026-04-02
   listed $59,000 Active
4. 2012-07-12
   soldstatus $7,500 Sold
5. 2012-04-23
   status Pending
6. 2012-04-19
   listed $7,500 Active
7. 2004-04-20
   soldstatus $39,250
8. 2003-12-22
   listed $39,950

ⓘ 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 AH · 27% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥87°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 7/10 Severe 10 unhealthy d/yr today · 11 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,452
• − Mortgage interest: −$3,081
• − Property taxes: −$825
• − Insurance: −$2,100
• − Repairs & maintenance: −$2,036
• − Management: −$2,036
• − Depreciation: −$1,600
• Taxable income: $13,774
• Est. tax owed @ 24.0%: −$3,306
• After-tax cash flow: $10,416/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: Auburn School District
• NCES district ID: 5300300
• Math proficiency: 47% ▼ -3.00%
• Reading proficiency: 56% ▼ -1.00%
• Median HH income: $58,048
• Composite: 46.73/100
• National rank: #5240
• State rank: #125 of 291 in WA

Livability — Auburn

• Score: 81/100
• State rank: #75
• US rank: #1371

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Auburn, WA
• County: King County · 2,251,916 people
• City population: 74,969
• Metro: Seattle-Tacoma-Bellevue, WA
• Population (ZIP): 37,509
• Household income: $78,684
• Rent vs Own: 51.1% rent · 48.9% own
• Severe rent burden: 2202.0

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 0.72)
• Race & ethnicity: White 46% Hispanic / Latino 24% Two or more races 13% Black 12% Asian 6% Pacific Islander 4% Native American 2%
• Hispanic origin (detail): Mexican 20%
• Common ancestry: Portuguese 4% Subsaharan African 4% Lithuanian 3%
• Foreign-born: 24% · Canada, Vietnam
• Languages at home: 63% English-only · Spanish 19% Russian/Polish/Slavic 6% Other Asian/Pacific 3%

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: ▼ -677.96%
• Current HPI: 298.0849
• Rent YoY: ▲ 1.51%
• 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

+37.7% since first listed

8 events — show timeline

• 2026-05-15 Pending — NWMLS as Distributed by MLS Grid
• 2026-05-01 Price Changed $55,000 NWMLS as Distributed by MLS Grid
• 2026-04-02 Listed $59,000 NWMLS as Distributed by MLS Grid
• 2012-07-12 Sold (MLS) $7,500 NWMLS as Distributed by MLS Grid
• 2012-04-23 Pending — NWMLS as Distributed by MLS Grid
• 2012-04-19 Listed $7,500 NWMLS as Distributed by MLS Grid
• 2004-04-20 Sold (MLS) $39,250 NWMLS as Distributed by MLS Grid
• 2003-12-22 Listed $39,950 NWMLS as Distributed by MLS Grid