210 37th St SE #35 · Auburn, WA 98002

$49,950

1 bd · 1.0 ba · 784 sqft · Manufactured · 18 Days on market

Built 1985 Good condition Est $92k · 46% under ↓ 52% since listing

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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 +4.7/10.0
• Livability +4.0/5.0
• Condition / age +4.0/5.0
• Rent growth +2.9/5.0
• Appreciation +0.0/10.0

Listing remarks

Completely remodeled and truly better than new. Effortless living in this thoughtfully remodeled 1 bedroom + 1 den and 1 bathroom home located in an ALL AGES, private gated community. Affordable too! Spacious open floor plan living. Check out the quality finishing touches in the kitchen. . . solid surface countertops with complimentary custom tile that goes up the whole wall, stainless steel appliances and custom cabinets. The bathroom is a dream with tile flooring, solid surface countertops, new sink and faucet, a large walk-in shower and window to keep it light and bright. New doors & hardware throughout. Stacked washer & dryer plus laundry folding area add to the amenities. G

Key facts

• Custom cabinets
• Custom tile
• Tile flooring

Tags

• PRIVATE GATED COMMUNITY
• SOLID SURFACE COUNTERTOPS
• CUSTOM TILE
• STAINLESS STEEL APPLIANCES
• CUSTOM CABINETS
• TILE FLOORING

Property features AI

Finance

• Other: Bus line nearby
• Financial info: Listing terms: Cash or Conventional
• HOA & community: Located in Auburn Manor Park (approx. 148 homes in park); Park amenities include BBQs, clubhouse, common area, exercise room, playground, pool; Pets allowed: cats OK; Land lease: $1,400

Exterior

• Parking: Uncovered parking; 2 open parking spaces
• Utilities: Electric energy source; Community water (park); Park sewer; Power by PSE; Cable (Comcast); Internet (Xfinity)
• Home design: Manufactured home (single wide); One level; Manufactured after 06/15/1976; Mobile home remains on site
• Construction: Wood construction; Composition roof; Pillar/post/pier foundation with tie downs; Make: FUQU, Model: 56114
• Exterior features: Wood exterior; Wood products

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator; Stove/Range
• Bedrooms: 1 bedroom
• Flooring: Laminate
• Bathrooms: One 3/4 bathroom (shower)
• Heating & cooling: Forced air heating; No cooling
• Interior features: Water heater (electric, located in closet); Den/office; Kitchen with eating area; Living room
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath manufactured listed at $50k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $944 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $50k).
• Recommended offer: $49k (1.5% below list) — sets the bar for market timing.
• Cap rate 29.0% 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.
• Zoned schools: Ilalko Elementary School (493 students, 65% FRL); Mt Baker Middle School (977 students, 58% FRL); Auburn Senior High School (1,844 students, 67% FRL) — zoned schools average 63% FRL vs 44% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+1.5%/yr); 176 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals leasing fast (median 7d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 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 $346 of loan paydown is wiped out by about $1k 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 $14k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($49k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $25k (33%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $49,200 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
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: 3.27% ✓
• Cap rate: 28.97%
• Cash-on-cash: 80.99%
• DSCR: 4.60
• GRM: 2.6

CMA / ARV

• ARV (on-the-fly): $91,728
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
210 37th St SE #35	0.00mi	2/1.0 (+1)	784 (0%)	13mo	$115,000	$147	84
401 37 St SE #95	0.14mi	2/1.0 (+1)	845 (+8%)	20mo	$100,000	$118	58
401 37th St SE #20	0.13mi	2/1.0 (+1)	896 (+14%)	12mo	$100,000	$112	55
900 29th St SE Unit E10	0.61mi	2/1.0 (+1)	720 (-8%)	6mo	$29,000	$40	48
3105 M St SE #44	0.69mi	2/1.0 (+1)	720 (-8%)	2mo	$36,000	$50	48
401 37th St SE #31	0.14mi	2/1.0 (+1)	900 (+15%)	20mo	$118,000	$131	47
3225 M St SE #131	0.67mi	2/2.0 (+1)	900 (+15%)	8mo	$105,000	$117	28

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: 79.5%
• Equity multiple: 4.55×
• Total profit: $49,642
• Equity at exit: $7,448

10-year hold

• IRR: 82.6%
• Equity multiple: 8.95×
• Total profit: $111,144
• Equity at exit: $4,319

Cash invested: $13,986 (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: 176
• Price-to-rent: 2.6×

Monthly cashflow live

• Estimated rent: $1,632 high
• Mortgage (P&I): −$262
• Tax est. 1.5%: −$62 /mo · $749/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$343
• Net cashflow: $944

Break-even live

Break-even rent $437

Max offer price $49,950

Occupancy floor 37%

Sensitivity live

Price	-10% $978	-5% $961	+0% $944	+5% $927	+10% $909
Rent	-10% $815	-5% $880	+0% $944	+5% $1,008	+10% $1,073
Rate	-1.0pp $969	-0.5pp $957	base $944	+0.5pp $931	+1.0pp $918

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: $12,488
• Closing costs: $1,498
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
732 4th Ave NE Pacific, WA	2.0	1.0	850	$1,805	$2.12	6d	2	0.38mi
1014 37th St SE Apt 4 Auburn, WA	2.0	2.0	1005	$1,780	$1.77	6d	1	0.51mi
1120 37th St SE Auburn, WA	2.0	1.0	788	$1,695	$2.15	14d	1	0.57mi
404 27th St SE Unit 19-1 Auburn, WA	2.0	1.0	1000	$1,750	$1.75	14d	1	0.66mi
703 47th St SE Auburn, WA	2.0	1.0–2.0	781	$1,760	$2.25	3d	7	0.67mi
2455 F St SE Auburn, WA	1.0–3.0	1.0–2.0	757	$1,400	$1.85	4d	6	0.84mi
2952 O St SE Unit F Auburn, WA	2.0	1.0	1051	$1,495	$1.42	3d	1	0.88mi
2952 O St SE Unit D Auburn, WA	2.0	1.0	795	$1,375	$1.73	3d	1	0.88mi
1526 29th St SE Auburn, WA	2.0	1.0	912	$1,595	$1.75	25d	1	0.94mi
417 22nd St SE Apt C Auburn, WA	2.0	1.0	600	$1,700	$2.83	0d	1	0.96mi
402 21st St SE Auburn, WA	1.0–2.0	1.0–1.5	747	$1,525	$2.04	16d	4	1.01mi
2020 F St SE Auburn, WA	1.0–2.0	1.0	725	$1,399	$1.93	25d	1	1.11mi
508 4th Ave SE Pacific, WA	2.0	1.0	885	$2,100	$2.37	25d	1	1.14mi
6170 Terrace View Ln SE Auburn, WA	1.0–3.0	1.0–2.0	956	$1,517	$1.59	0d	36	1.48mi
1420 17th St SE Auburn, WA	1.0–2.0	1.0	725	$1,425	$1.96	4d	4	1.49mi

Listing history 17 events

1. 2026-06-21
   days on market $49,950 Active 18 DOM
2. 2026-06-18
   days on market $49,950 Active 15 DOM
3. 2026-06-18
   price $49,950 Active 14 DOM
4. 2026-06-17
   days on market $59,950 Active 14 DOM
5. 2026-06-16
   days on market $59,950 Active 13 DOM
6. 2026-06-15
   days on market $59,950 Active 12 DOM
7. 2026-06-13
   days on market $59,950 Active 10 DOM
8. 2026-06-13
   days on market $59,950 Active 9 DOM
9. 2026-06-09
   days on market $59,950 Active 6 DOM
10. 2026-06-08
    days on market $59,950 Active 5 DOM
11. 2026-06-07
    days on market $59,950 Active 4 DOM
12. 2026-06-04
    pricedays on marketlisting id $59,950 Active 1 DOM
13. 2026-01-27
    price $59,900
14. 2025-11-26
    listed $75,000 Active
15. 2025-06-04
    soldstatus $115,000 Closed
16. 2025-04-28
    status Pending
17. 2025-03-07
    listed $125,000 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥88°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: $19,582
• − Mortgage interest: −$2,798
• − Property taxes: −$749
• − Insurance: −$250
• − Repairs & maintenance: −$1,567
• − Management: −$1,567
• − Depreciation: −$1,453
• Taxable income: $11,199
• Est. tax owed @ 24.0%: −$2,688
• After-tax cash flow: $8,640/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 · 1 photo

Good 80/100 Cosmetic rehab

This remodeled manufactured home is in excellent condition with a good condition score of 80. It has been thoughtfully updated with quality finishes and is move-in ready.

Value-add opportunities

• Both Landscaping — Enhances curb appeal and adds value
• Both Painting — Fresh paint can make the home look newer
• Both Window treatments — Improves energy efficiency and aesthetics

Renovation cost estimate screening

Value-add ROI direction

• Both Landscaping — Enhances curb appeal and adds value ↑
• Both Painting — Fresh paint can make the home look newer ↑
• Both Window treatments — Improves energy efficiency and aesthetics ↑

ⓘ 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: 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

-52.1% since first listed

5 events — show timeline

• 2026-01-27 Price Changed $59,900 NWMLS as Distributed by MLS Grid
• 2025-11-26 Listed $75,000 NWMLS as Distributed by MLS Grid
• 2025-06-04 Sold (MLS) $115,000 NWMLS as Distributed by MLS Grid
• 2025-04-28 Pending — NWMLS as Distributed by MLS Grid
• 2025-03-07 Listed $125,000 NWMLS as Distributed by MLS Grid