31600 126th Ave SE Unit E25 · Auburn, WA 98092

$249,995

4 bd · 2.0 ba · 2,146 sqft · Manufactured · 3 Days on market

Built 2003 Good condition Est $232k · 8% over

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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 +29.2/30.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 1% rule +8.2/10.0
• Schools +4.7/10.0
• ARV discount +4.0/15.0
• Livability +4.0/5.0
• Condition / age +4.0/5.0
• Rent growth +2.4/5.0

Listing remarks

First time on the market! This stunning triple-wide home is one of the largest and most beautifully upgraded homes in this all ages park, offering over 2,100 sq ft of thoughtfully designed living space in the highly desirable Lea Hill area. Step inside to discover soaring ceilings, rich hardwood floors, abundant natural light, skylights, recessed lighting, and fresh paint that create a bright, inviting atmosphere. Enjoy year-round comfort with A/C, newer furnace (2021), newer water heater (2025), and durable Malarkey roof (2023) + an RV outlet. The oversized chef’s kitchen offers generous timeless shaker cabinets, professional grade range, granite counters, a breakfast bar, pantry, an

Key facts

• Newer furnace
• Triple-wide home
• A/c

Tags

• TRIPLE-WIDE HOME
• UPGRADED HOMES
• A/C
• NEWER FURNACE
• NEWER WATER HEATER
• DURABLE MALARKEY ROOF

Property features AI

Finance

• Other: Home size approximately 2,146 square feet (per title); Bus line nearby; Cable and internet connected (Xfinity)
• Financial info: Listing terms: Cash or Conventional
• HOA & community: Located in a park with 227 homes; Pets allowed: cats and dogs; High-speed internet available; Recreational area and sidewalks in park; Land lease payment of $1,102

Exterior

• Parking: Uncovered open parking; 2 open parking spaces
• Utilities: Public water (College Place); Public sewer (College Place); Power by PSE; Energy sources: Electric and Propane; Electric water heater
• Home design: Manufactured home (triple wide); Palm Harbor make; One-level (single story); East-facing; Located in a manufactured home park approved for sale; Has a view
• Construction: Wood construction; Composition roof; Pillar/Post/Pier foundation; Manufactured house structure type; Manufactured after 06/15/1976
• Exterior features: Wood products exterior; Patio/Porch/Deck; Curbs and paved streets; Secluded setting; Sidewalks

Interior

• Kitchen: Dishwasher; Garbage disposal; Refrigerator; Stove/Range
• Bedrooms: 4 bedrooms
• Flooring: Hardwood; Marble
• Bathrooms: 1 full bath; 1 three-quarter bath; 1 bathtub; 2 showers
• Heating & cooling: Forced air heating; Heat pump; Central air conditioning
• Interior features: Updated/remodeled manufactured home; Water heater (located at back of home); Jetted/soaking tub; Skylights; Vaulted ceilings; Walk-in closet; Drapes; Dining room, Entry, Family room, Living room, Utility room, Kitchen with eating space
• Laundry & utility: Utility room on-site

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath manufactured listed at $250k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $872 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $250k).
• Cap rate 10.5% 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; 2 comparable units currently listed for rent nearby; high-income renter base; 10,555 units permitted in King County in 2024 (7,119 in 5+ unit buildings).
• This rent runs 32% of the median local income ($122k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $27k of equity ($2k loan paydown + $25k 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 $70k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$43k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $249,995

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: 1.32% ✓
• Cap rate: 10.48%
• Cash-on-cash: 14.94%
• DSCR: 1.66
• GRM: 6.3

CMA / ARV

• ARV (on-the-fly): $231,768
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
31600 126th Ave SE Unit E16	0.22mi	4/2.0	1,988 (-7%)	10mo	$145,000	$73	70
31600 126th Ave SE Unit E-38	0.22mi	4/2.0	1,890 (-12%)	1mo	$230,000	$122	69
31600 126th Ave SE Unit E29	0.22mi	3/2.0 (-1)	1,848 (-14%)	2mo	$199,000	$108	60
31600 126th Ave SE #100	0.22mi	4/2.0	1,848 (-14%)	10mo	$75,000	$41	58
31600 126th Ave SE #47	0.22mi	4/2.0	1,848 (-14%)	15mo	$187,000	$101	54
31600 126th Ave SE #162	0.22mi	4/2.0	1,848 (-14%)	19mo	$200,000	$108	50

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: 33.9%
• Equity multiple: 3.60×
• Total profit: $182,069
• Equity at exit: $225,215

10-year hold

• IRR: 28.2%
• Equity multiple: 7.79×
• Total profit: $475,346
• Equity at exit: $485,685

Cash invested: $69,999 (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: 6.3×

Monthly cashflow live

• Estimated rent: $3,290 medium
• Mortgage (P&I): −$1,311
• Tax est. 1.5%: −$312 /mo · $3,750/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$691
• Net cashflow: $872

Break-even live

Break-even rent $2,187

Max offer price $249,995

Occupancy floor 69%

Sensitivity live

Price	-10% $1,044	-5% $958	+0% $872	+5% $785	+10% $699
Rent	-10% $612	-5% $742	+0% $872	+5% $1,001	+10% $1,131
Rate	-1.0pp $997	-0.5pp $935	base $872	+0.5pp $807	+1.0pp $741

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: $62,499
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
30236 125th Ct SE Auburn, WA	4.0	2.5	2297	$3,595	$1.57	25d	1	0.78mi
29407 121st Ave SE Auburn, WA	5.0	2.5	2267	$3,400	$1.50	0d	1	1.37mi

Listing history 3 events

1. 2026-06-21
   days on market $249,995 Active 3 DOM
2. 2026-06-18
   remarks 693-char remark
3. 2026-06-18
   listed $249,995 Active 1 DOM

ⓘ 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: $39,481
• − Mortgage interest: −$14,004
• − Property taxes: −$3,750
• − Insurance: −$1,250
• − Repairs & maintenance: −$3,158
• − Management: −$3,158
• − Depreciation: −$7,273
• Taxable income: $6,888
• Est. tax owed @ 24.0%: −$1,653
• After-tax cash flow: $8,805/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 well-maintained, upgraded manufactured home in Lea Hill offers a good condition with minimal repairs needed. It's move-in ready with a good ROI for both resale and rental.

Value-add opportunities

• Resale Paint exterior siding — Enhances curb appeal and value
• Rental Replace curtains — Fresh curtains improve aesthetics and tenant satisfaction

Renovation cost estimate screening

Value-add ROI direction

• Resale Paint exterior siding — Enhances curb appeal and value ↑
• Rental Replace curtains — Fresh curtains improve aesthetics and tenant satisfaction ↑

ⓘ 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): 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

1 event — show timeline

• 2026-06-18 Listed $249,995 NWMLS as Distributed by MLS Grid