31600 126th Ave SE #166 · Auburn, WA 98092

$159,950

4 bd · 2.0 ba · 1,848 sqft · Manufactured · 161 Days on market

Built 1989 Est $200k · 20% 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
• Appreciation +10.0/10.0
• Schools +4.7/10.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0

Listing remarks

Move-In Ready Home with Exceptional Space and Value! This well-kept home offers impressive space, modern updates, and unbeatable value in a well-managed, all-ages community. 4 bedrooms plus a finished bonus room perfect for an office or hobby area/1.75 baths, and a bright open-concept layout, this home is ready for its next owner. Enjoy a large primary suite, granite kitchen countertops, floor-to-ceiling pantry cabinets, a formal dining room, a newer roof, a new furnace, new carpet, and a new microwave, all appliances included. Located close to shopping, schools, dining, and freeway access, this home offers the ideal combination of comfort, space, and convenience at a price that won’

Key facts

• New furnace
• Finished bonus room
• Newer roof

Tags

• FINISHED BONUS ROOM
• GRANITE KITCHEN COUNTERTOPS
• NEWER ROOF
• NEW FURNACE
• ALL APPLIANCES INCLUDED

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath manufactured listed at $160k.

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 ($3k rent vs $160k).
• Recommended offer: $141k (12.0% below list) — sets the bar for market timing.
• Cap rate 15.1% 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: Lea Hill Elementary School (584 students, 69% FRL); Auburn Mountainview High School (1,581 students, 63% FRL) — zoned schools average 66% FRL vs 44% district-wide (22 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents soft (-0.5%/yr); 296 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 0d 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

• In year one you build about $17k of equity ($1k loan paydown + $16k appreciation (10.0% local appreciation)).
• King County population projected at +44% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 0.0% rent growth), your $45k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$43k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 161 days — a 12% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 15y 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.
• Current owner paid $40k; list at $160k implies a 300% gain — meaningful room to come down on a strong offer.

Recommended offer $140,756 (12.0% below list)

Questions for the listing agent

1. It's been on market 161 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.81% ✓
• Cap rate: 15.13%
• Cash-on-cash: 31.56%
• DSCR: 2.40
• GRM: 4.6

CMA / ARV

• ARV (on-the-fly): $199,584
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
31600 126th Ave SE Unit E-38	0.00mi	4/2.0	1,890 (+2%)	1mo	$230,000	$122	95
31600 126th Ave SE Unit E29	0.00mi	3/2.0 (-1)	1,848 (0%)	2mo	$199,000	$108	94
31600 126th Ave SE #100	0.00mi	4/2.0	1,848 (0%)	10mo	$75,000	$41	92
31600 126th Ave SE #47	0.00mi	4/2.0	1,848 (0%)	15mo	$187,000	$101	88
31600 126th Ave SE Unit E-21	0.00mi	3/2.0 (-1)	1,782 (-4%)	7mo	$240,000	$135	83
31600 126th Ave SE Unit E12	0.00mi	4/2.0	1,792 (-3%)	18mo	$180,000	$100	80
31600 126th Ave SE Unit E16	0.00mi	4/2.0	1,988 (+8%)	10mo	$145,000	$73	79
31600 126th Ave SE #101	0.22mi	3/2.0 (-1)	1,800 (-3%)	4mo	$75,100	$42	77
31600 SE 126th Ave Unit E-174	0.00mi	3/2.0 (-1)	1,728 (-6%)	10mo	$200,000	$116	76
31600 126th Ave SE #25	0.01mi	4/2.0	1,620 (-12%)	12mo	$239,500	$148	69
31600 126th Ave SE #129	0.22mi	3/2.0 (-1)	1,680 (-9%)	10mo	$135,000	$80	61
31600 126th Ave SE Unit E27	0.00mi	3/2.0 (-1)	1,620 (-12%)	16mo	$208,000	$128	61

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 46.5%
• Equity multiple: 4.43×
• Total profit: $153,714
• Equity at exit: $144,096

10-year hold

• IRR: 39.2%
• Equity multiple: 9.45×
• Total profit: $378,581
• Equity at exit: $310,748

Cash invested: $44,786 (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 98092

• Home prices YoY: 3.3%
• Rents YoY: -0.5%
• Active inventory: 296
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $2,890 medium
• Mortgage (P&I): −$839
• Tax est. 1.5%: −$200 /mo · $2,399/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$607
• Net cashflow: $1,178

Break-even live

Break-even rent $1,399

Max offer price $159,950

Occupancy floor 54%

Sensitivity live

Price	-10% $1,289	-5% $1,233	+0% $1,178	+5% $1,123	+10% $1,067
Rent	-10% $950	-5% $1,064	+0% $1,178	+5% $1,292	+10% $1,406
Rate	-1.0pp $1,259	-0.5pp $1,219	base $1,178	+0.5pp $1,137	+1.0pp $1,094

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: $39,988
• Closing costs: $4,798
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12722 SE 312th St Auburn, WA	4.0	1.0–2.0	870	$2,433	$2.79	0d	21	0.22mi
12902 SE 312th St Auburn, WA	1.0–4.0	1.0–2.0	1062	$2,578	$2.43	0d	16	0.36mi
30236 125th Ct SE Auburn, WA	4.0	2.5	2297	$3,595	$1.57	25d	1	0.74mi
29407 121st Ave SE Auburn, WA	5.0	2.5	2267	$3,400	$1.50	0d	1	1.31mi

Listing history 29 events

1. 2026-06-21
   statusdays on market $159,950 Pending 161 DOM
2. 2026-06-18
   days on market $159,950 Active 159 DOM
3. 2026-06-17
   days on market $159,950 Active 158 DOM
4. 2026-06-16
   days on market $159,950 Active 157 DOM
5. 2026-06-15
   days on market $159,950 Active 156 DOM
6. 2026-06-13
   days on market $159,950 Active 154 DOM
7. 2026-06-13
   days on market $159,950 Active 153 DOM
8. 2026-06-09
   days on market $159,950 Active 150 DOM
9. 2026-06-08
   days on market $159,950 Active 149 DOM
10. 2026-06-07
    days on market $159,950 Active 148 DOM
11. 2026-06-04
    days on market $159,950 Active 145 DOM
12. 2026-06-03
    days on market $159,950 Active 144 DOM
13. 2026-06-02
    days on market $159,950 Active 143 DOM
14. 2026-06-01
    days on market $159,950 Active 142 DOM
15. 2026-05-31
    days on market $159,950 Active 141 DOM
16. 2026-03-27
    status Pending
17. 2025-12-07
    status Active
18. 2025-12-02
    status Pending
19. 2025-11-03
    listed $159,950 Active
20. 2012-07-11
    soldstatus $40,000 Sold
21. 2012-07-10
    status Pending
22. 2012-06-11
    status Pending Inspection
23. 2012-06-01
    price $43,000
24. 2012-04-27
    price $46,500
25. 2012-03-04
    status Active
26. 2012-02-26
    status Pending Inspection
27. 2011-10-10
    price $48,500
28. 2011-08-15
    price $50,000
29. 2011-08-09
    listed $52,500 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 ≥87°F today · 15 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: $34,684
• − Mortgage interest: −$8,960
• − Property taxes: −$2,399
• − Insurance: −$800
• − Repairs & maintenance: −$2,775
• − Management: −$2,775
• − Depreciation: −$4,653
• Taxable income: $12,323
• Est. tax owed @ 24.0%: −$2,958
• After-tax cash flow: $11,179/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): 50,224
• Household income: $122,300
• Rent vs Own: 25.7% rent · 74.3% own
• Severe rent burden: 1041.0

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 0.66)
• Race & ethnicity: White 54% Hispanic / Latino 15% Asian 14% Two or more races 13% Native American 4% Black 3% Pacific Islander 2%
• Hispanic origin (detail): Mexican 12%
• Common ancestry: Portuguese 4% Italian 3% Subsaharan African 3%
• Foreign-born: 20% · Canada, South Korea, Vietnam
• Languages at home: 73% English-only · Spanish 9% Russian/Polish/Slavic 4% Other Indo-European 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: ▲ 49.75%
• Current HPI: 1554.06
• Rent YoY: ▼ -0.46%
• 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

+204.7% since first listed

14 events — show timeline

• 2026-03-27 Pending — NWMLS as Distributed by MLS Grid
• 2025-12-07 Relisted — NWMLS as Distributed by MLS Grid
• 2025-12-02 Pending — NWMLS as Distributed by MLS Grid
• 2025-11-03 Listed $159,950 NWMLS as Distributed by MLS Grid
• 2012-07-11 Sold (MLS) $40,000 NWMLS as Distributed by MLS Grid
• 2012-07-10 Pending — NWMLS as Distributed by MLS Grid
• 2012-06-11 Pending — NWMLS as Distributed by MLS Grid
• 2012-06-01 Price Changed $43,000 NWMLS as Distributed by MLS Grid
• 2012-04-27 Price Changed $46,500 NWMLS as Distributed by MLS Grid
• 2012-03-04 Relisted — NWMLS as Distributed by MLS Grid
• 2012-02-26 Pending — NWMLS as Distributed by MLS Grid
• 2011-10-10 Price Changed $48,500 NWMLS as Distributed by MLS Grid
• 2011-08-15 Price Changed $50,000 NWMLS as Distributed by MLS Grid
• 2011-08-09 Listed $52,500 NWMLS as Distributed by MLS Grid