6137 Hazel Loop SE Unit A8 · Auburn, WA 98092

$385,000

2 bd · 2.0 ba · 1,013 sqft · Condo public records · 59 Days on market

Built 2004 $348/mo HOA · 13% of rent

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Why this score? — see what drove the D- 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).

• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Cash flow +5.9/30.0
• Schools +4.7/10.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• 1% rule +1.9/10.0
• DSCR +0.3/10.0

Listing remarks

Welcome home to this charming 2 bedroom, 2 bath condo in the highly sought-after Lakeland community! This ground-floor unit offers 1,013 square feet of easy, single-level living with all the right touches and none of the stairs. Step inside and enjoy the warm, inviting feel of the cozy gas fireplace, the perfect centerpiece of the living space during those chilly Pacific Northwest evenings. The kitchen shines with granite countertops and plenty of room to cook and entertain. Newer floors flow throughout, giving the home a fresh, move-in ready feel from the moment you walk in! The spacious primary suite is a true retreat with an attached bath and a walk-in closet that offers all the storage

Key facts

• Cozy gas fireplace
• Granite countertops
• Ground-floor unit

Tags

• GROUND-FLOOR UNIT
• COZY GAS FIREPLACE
• GRANITE COUNTERTOPS
• PRIVATE OUTDOOR PATIO
• MINUTES FROM SHOPPING DINING

Property features AI

Finance

• Other: Unit features include primary bath and walk-in closet; Unit is an end unit with balcony/deck/patio and French doors
• Financial info: Acceptable financing: Cash, Conventional, FHA, VA
• HOA & community: Monthly association fee of $348.45; HOA covers cable TV, water, sewer and trash; Community amenities: athletic court, clubhouse, trails, cable TV, fire sprinklers; 158 units in community; 8 units in building

Exterior

• Parking: Common garage (covered space); 1 uncovered parking space; Has garage
• Security: Fire sprinklers in community
• Utilities: Electric energy source; Water, sewer and trash included in HOA (per association fee details)
• Home design: Attached condominium; One-level condo; Main-level entry; First floor unit; Building name: Capri at Lakeland
• Construction: Built in 2004 (effective year); Multi-family structure; Composition roof; Metal/vinyl, stone and wood construction
• Exterior features: Balcony/Deck/Patio; End unit; Ground floor unit; Curbs, paved roads, sidewalk; Unit has a view; Metal/vinyl, stone and wood exterior finishes

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator; Stove/Range; Kitchen with eating space
• Bedrooms: 2 bedrooms (both on main level); Primary bedroom on main level
• Flooring: Ceramic tile; Laminate; Carpet
• Bathrooms: 2 full bathrooms (both on main level); Each bathroom includes shower and bathtub
• Heating & cooling: Baseboard heating; Wall furnace; Wall cooling unit(s)
• Interior features: Fireplace (gas); French doors; Walk-in closet(s)
• Laundry & utility: Washer; Dryer; Utility room on main level

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $385k.

Deal economics

• At list price, monthly cash flow is $-748 ($-9k/yr) — negative.
• To cash-flow at today's rent, offer at most $253k (34.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $268k (30.5% below list).
• Recommended offer: $253k (34.3% below list) — sets the bar for cash-flow.
• Cap rate 4.0% 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: Lakeland Hills Elementary (536 students, 35% FRL); Mt Baker Middle School (977 students, 58% FRL); Auburn Riverside High School (1,909 students, 50% FRL) — zoned schools at 48% FRL track the district average.
• Market conditions: Rents soft (-0.5%/yr); 298 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 3,209 units permitted in Pierce County in 2024 (1,269 in 5+ unit buildings).

Forward outlook

• In year one you build about $41k of equity ($3k loan paydown + $38k appreciation (10.0% local appreciation)).
• Pierce County population projected at +26% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$66k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 59 days — a 3% lower offer ($373k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $206k; list at $385k implies a 87% gain — meaningful room to come down on a strong offer.

Recommended offer $252,928 (34.3% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 59 days. Have you received any prior offers? Is the seller open to a 34% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.69% ✗
• Cap rate: 3.96%
• Cash-on-cash: -8.32%
• DSCR: 0.63
• GRM: 12.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 17.6%
• Equity multiple: 2.43×
• Total profit: $154,388
• Equity at exit: $346,839

10-year hold

• IRR: 16.0%
• Equity multiple: 5.44×
• Total profit: $478,381
• Equity at exit: $747,970

Cash invested: $107,800 (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 98092

• Home prices YoY: 3.3%
• Rents YoY: -0.5%
• Active inventory: 298
• Price-to-rent: 12.0×

Monthly cashflow live

• Estimated rent: $2,675 high
• Mortgage (P&I): −$2,019
• Tax from tax record: −$334 /mo · $4,003/yr
• Insurance: −$160
• HOA: −$348
• Vacancy / Maint / Mgmt: −$562
• Net cashflow: $-748

Break-even live

Break-even rent $3,621

Max offer price $252,928

Occupancy floor —

Sensitivity live

Price	-10% $-530	-5% $-639	+0% $-748	+5% $-857	+10% $-966
Rent	-10% $-959	-5% $-853	+0% $-748	+5% $-642	+10% $-536
Rate	-1.0pp $-554	-0.5pp $-650	base $-748	+0.5pp $-847	+1.0pp $-949

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: $96,250
• Closing costs: $11,550
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1105 63rd St SE Unit C Auburn, WA	3.0	2.5	1372	$4,000	$2.92	0d	1	0.09mi
1115 62nd St SE Unit 18B Auburn, WA	2.0	1.5	1285	$2,695	$2.10	3d	1	0.09mi
6170 Terrace View Ln SE Auburn, WA	1.0–3.0	1.0–2.0	956	$2,034	$2.13	0d	36	0.43mi
7101 Lindsay Ave SE Auburn, WA	1.0–2.0	1.0–1.5	853	$2,053	$2.41	0d	20	0.62mi
6821 Udall Pl SE Auburn, WA	1.0–3.0	1.0–2.0	923	$2,246	$2.43	0d	28	0.82mi
703 47th St SE Auburn, WA	2.0	1.0–2.0	781	$1,970	$2.52	3d	7	1.00mi
2705 67th Ct SE Auburn, WA	3.0	3.0	1458	$2,995	$2.05	12d	1	1.09mi
4704 Mill Pond Dr SE #213 Auburn, WA	2.0	2.0	1142	$2,750	$2.41	4d	1	1.11mi
508 4th Ave SE Pacific, WA	2.0	1.0	885	$2,100	$2.37	26d	1	1.27mi

HOA detail condo

• Monthly dues: $348 · $4,176/yr
• Likely covers: gas
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 17 events

1. 2026-06-21
   days on market $385,000 Active 59 DOM
2. 2026-06-18
   days on market $385,000 Active 56 DOM
3. 2026-06-17
   days on market $385,000 Active 55 DOM
4. 2026-06-16
   days on market $385,000 Active 54 DOM
5. 2026-06-15
   days on market $385,000 Active 53 DOM
6. 2026-06-13
   days on market $385,000 Active 51 DOM
7. 2026-06-13
   days on market $385,000 Active 50 DOM
8. 2026-06-09
   days on market $385,000 Active 47 DOM
9. 2026-06-08
   days on market $385,000 Active 46 DOM
10. 2026-06-07
    days on market $385,000 Active 45 DOM
11. 2026-06-04
    days on market $385,000 Active 42 DOM
12. 2026-06-03
    days on market $385,000 Active 41 DOM
13. 2026-06-02
    days on market $385,000 Active 40 DOM
14. 2026-06-01
    days on market $385,000 Active 39 DOM
15. 2026-05-31
    days on market $385,000 Active 38 DOM
16. 2026-04-23
    listed $400,000 Active
17. 2006-04-12
    soldstatus $206,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast WA · Resets to sale price

• Current annual tax: $4,003 · $334/mo
• Projected year-2 tax: $4,003 · $334/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

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: $32,102
• − Mortgage interest: −$21,566
• − Property taxes: −$4,003
• − Insurance: −$1,925
• − Repairs & maintenance: −$2,568
• − Management: −$2,568
• − HOA: −$4,176
• − Depreciation: −$11,200
• Taxable loss: −$15,905
• Est. tax savings @ 24.0%: +$3,817
• After-tax cash flow: $-5,154/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 (Pierce County) Hauer SSP2

• Today (2025): 956,648 people
• By 2030: 1,010,862 · +5.7%
• By 2040: 1,113,170 · +16.4%
• By 2050: 1,206,524 · +26.1%
• By 2075: 1,436,425 · +50.2%
• By 2100: 1,563,654 · +63.5%

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 · Pierce

• 2024 margin: D (+10.8) · D 53.9% · R 43.1% · Other 3.0%
• 2008→2024 swing: -1.4pp toward R · 2008: 12.2pp · 2024: 10.8pp
• All cycles: 2024: D+10.8 2020: D+11.2 2016: D+7.5 2012: D+11.0 2008: D+12.2

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

+94.2% since first listed

2 events — show timeline

• 2026-04-23 Listed $400,000 NWMLS as Distributed by MLS Grid
• 2006-04-12 Sold (Public Records) $206,000 Public Records

Property tax history

+3.2%/yr

Latest (2026): $4,003 · +1.5% YoY. Source: county tax records.