900 29th St SE Unit D-9 · Auburn, WA 98002

$79,500

3 bd · 2.0 ba · 1,152 sqft · Manufactured · 60 Days on market

Built 1979 Est $139k · 43% under

---

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
• 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
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Skylark Village, great 55+ community feat this bright & open 3bd/1.75ba home w/ 1,152sqft & 2 parking. Lg covered front porch welcomes you to the spacious floor plan that flows from the kitchen, family & dining room w/ cozy wood fireplace. Lg kitchen w/ quartz & tile backsplash, all appliances, lots of cabinets & counter space w/ updated lighting. Dining rm w/ built-in cabinet for extra storage, ceiling fan & spacious family rm w/ large windows providing lots of natural light. Lg primary w/ ceiling fan, double closets, remodeled 3/4 bath. 1st bdrm used as an office. Utility rm incl washer, dryer & freezer. Partially updated full bath & lg 2nd

Key facts

• Covered front porch
• Natural light
• Cozy wood fireplace

Tags

• COVERED FRONT PORCH
• COZY WOOD FIREPLACE
• QUARTZ TILE BACKSPLASH
• BUILT-IN CABINET
• NATURAL LIGHT
• REMODELED BATH

Property features AI

Finance

• Other: Listing active (on market since April 19, 2026); Calculated living area: 1,152; Tie-down foundation listed under building info
• Financial info: Listing terms: Cash or Conventional; Land lease amount: $1,206
• HOA & community: Skylark Village park; Senior community; Park amenities include common area and laundry; Park approved for sale; Land lease billed monthly

Exterior

• Parking: Carport
• Security: Security system
• Utilities: Electric energy source; Public water (billed by park); Sewer billed by park; Electric water heater (located in hall closet); Cable: Xfinity; Internet: Xfinity; Power company: Puget Sound Energy
• Home design: Manufactured home (double wide); One level; Mobile home remains; Faces west; Good condition; Manufactured after 6/15/1976
• Construction: Metal/vinyl construction; Composition roof; Vinyl skirting; Tie-down foundation
• Exterior features: Metal/vinyl exterior; Patio/porch/deck; Paved lot; Back-of-carport storage

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator; Stove/Range
• Bedrooms: 3 bedrooms
• Flooring: Laminate
• Bathrooms: 1 full bath; 1 three-quarter bath; 1 bathtub; 1 shower
• Heating & cooling: Forced air heating; Window cooling unit(s)
• Interior features: Fireplace (wood-burning); Water heater
• Laundry & utility: Washer; Dryer; Utility room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $80k.

Deal economics

• At list price, monthly cash flow is $934 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $80k).
• Recommended offer: $77k (3.0% below list) — sets the bar for market timing.
• Cap rate 20.4% 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; 15 comparable units currently listed for rent nearby; rentals leasing fast (median 5d 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 $550 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 $22k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 60 days — a 3% lower offer ($77k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 25y 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 $22k; list at $80k implies a 261% gain — meaningful room to come down on a strong offer.

Recommended offer $77,115 (3.0% below list)

Questions for the listing agent

1. It's been on market 60 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 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 2.36% ✓
• Cap rate: 20.39%
• Cash-on-cash: 50.34%
• DSCR: 3.24
• GRM: 3.5

CMA / ARV

• ARV (on-the-fly): $139,392
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
602 29th St SE #54	0.18mi	3/2.0	1,232 (+7%)	6mo	$55,000	$45	75
3225 M St SE #144	0.21mi	3/2.0	1,248 (+8%)	3mo	$155,000	$124	74
2902 B St SE	0.48mi	3/2.0	1,152 (0%)	4mo	$312,500	$271	74
602 29th St SE #39	0.21mi	3/2.0	1,232 (+7%)	6mo	$155,000	$126	74
3225 M St SE #145	0.19mi	3/2.0	1,254 (+9%)	7mo	$105,000	$84	70
607 37th St SE #77	0.47mi	3/2.0	1,120 (-3%)	4mo	$135,000	$121	70
707 37th St SE #73	0.48mi	2/2.0 (-1)	1,152 (0%)	9mo	$130,000	$113	65
800 29 TH St SE Unit G-12	0.12mi	2/1.0 (-1)	980 (-15%)	0mo	$86,000	$88	60
401 37th St SE #104	0.55mi	4/2.0 (+1)	1,248 (+8%)	0mo	$180,000	$144	55
210 37th St SE #130	0.67mi	3/2.0	1,248 (+8%)	2mo	$150,000	$120	53
607 37th St SE #81	0.47mi	4/2.0 (+1)	1,296 (+12%)	5mo	$115,000	$89	48
401 37th St SE #110	0.47mi	3/1.0	980 (-15%)	3mo	$127,000	$130	47

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: 46.4%
• Equity multiple: 2.97×
• Total profit: $43,844
• Equity at exit: $11,854

10-year hold

• IRR: 51.5%
• Equity multiple: 5.66×
• Total profit: $103,827
• Equity at exit: $6,874

Cash invested: $22,260 (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: 3.5×

Monthly cashflow live

• Estimated rent: $1,877 high
• Mortgage (P&I): −$417
• Tax est. 1.5%: −$99 /mo · $1,192/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$394
• Net cashflow: $934

Break-even live

Break-even rent $695

Max offer price $79,500

Occupancy floor 45%

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: $19,875
• Closing costs: $2,385
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2952 O St SE Unit F Auburn, WA	2.0	1.0	1051	$1,495	$1.42	2d	1	0.27mi
2952 O St SE Unit D Auburn, WA	2.0	1.0	795	$1,375	$1.73	2d	1	0.27mi
1526 29th St SE Auburn, WA	2.0	1.0	912	$1,595	$1.75	24d	1	0.34mi
404 27th St SE Unit 19-1 Auburn, WA	2.0	1.0	1000	$1,750	$1.75	12d	1	0.37mi
2455 F St SE Auburn, WA	1.0–3.0	1.0–2.0	757	$1,955	$2.58	2d	6	0.42mi
1120 37th St SE Auburn, WA	2.0	1.0	788	$1,695	$2.15	12d	1	0.48mi
1014 37th St SE Apt 4 Auburn, WA	2.0	2.0	1005	$1,780	$1.77	5d	1	0.50mi
402 21st St SE Auburn, WA	1.0–2.0	1.0–1.5	747	$1,695	$2.27	15d	4	0.57mi
2020 F St SE Auburn, WA	1.0–2.0	1.0	725	$1,599	$2.21	24d	1	0.58mi
418 17th St SE Unit 6C Auburn, WA	2.0	2.0	1219	$2,200	$1.80	24d	1	0.73mi
1420 17th St SE Auburn, WA	1.0–2.0	1.0	725	$1,695	$2.34	3d	4	0.78mi
4704 Mill Pond Dr SE #213 Auburn, WA	2.0	2.0	1142	$2,750	$2.41	2d	1	1.04mi
732 4th Ave NE Pacific, WA	2.0	1.0	850	$1,805	$2.12	5d	2	1.10mi
703 47th St SE Auburn, WA	2.0	1.0–2.0	781	$1,970	$2.52	1d	7	1.17mi
2901 Auburn Way S Auburn, WA	1.0–2.0	1.0	667	$2,175	$3.26	1d	20	1.22mi

Listing history 25 events

1. 2026-06-18
   days on market $79,500 Active 60 DOM
2. 2026-06-17
   days on market $79,500 Active 59 DOM
3. 2026-06-16
   days on market $79,500 Active 58 DOM
4. 2026-06-15
   days on market $79,500 Active 57 DOM
5. 2026-06-13
   days on market $79,500 Active 55 DOM
6. 2026-06-13
   days on market $79,500 Active 54 DOM
7. 2026-06-09
   days on market $79,500 Active 51 DOM
8. 2026-06-08
   days on market $79,500 Active 50 DOM
9. 2026-06-07
   days on market $79,500 Active 49 DOM
10. 2026-06-04
    days on market $79,500 Active 46 DOM
11. 2026-06-03
    days on market $79,500 Active 45 DOM
12. 2026-06-02
    days on market $79,500 Active 44 DOM
13. 2026-06-01
    days on market $79,500 Active 43 DOM
14. 2026-05-31
    days on market $79,500 Active 42 DOM
15. 2026-04-19
    listed $79,500 Active
16. 2016-05-27
    soldstatus $22,000 Sold
17. 2016-05-02
    status Pending
18. 2016-04-06
    price $22,500
19. 2016-02-19
    price $25,900
20. 2016-02-02
    price $28,900
21. 2015-12-29
    listed $24,900 Active
22. 2007-03-12
    soldstatus $32,000
23. 2006-01-10
    listed $34,950
24. 2001-12-21
    soldstatus $39,500
25. 2001-08-01
    listed $39,500

ⓘ 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 · 14 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: $22,529
• − Mortgage interest: −$4,453
• − Property taxes: −$1,192
• − Insurance: −$398
• − Repairs & maintenance: −$1,802
• − Management: −$1,802
• − Depreciation: −$2,313
• Taxable income: $10,568
• Est. tax owed @ 24.0%: −$2,536
• After-tax cash flow: $8,669/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

+101.3% since first listed

11 events — show timeline

• 2026-04-19 Listed $79,500 NWMLS as Distributed by MLS Grid
• 2016-05-27 Sold (MLS) $22,000 NWMLS as Distributed by MLS Grid
• 2016-05-02 Pending — NWMLS as Distributed by MLS Grid
• 2016-04-06 Price Changed $22,500 NWMLS as Distributed by MLS Grid
• 2016-02-19 Price Changed $25,900 NWMLS as Distributed by MLS Grid
• 2016-02-02 Price Changed $28,900 NWMLS as Distributed by MLS Grid
• 2015-12-29 Listed $24,900 NWMLS as Distributed by MLS Grid
• 2007-03-12 Sold (MLS) $32,000 NWMLS as Distributed by MLS Grid
• 2006-01-10 Listed $34,950 NWMLS as Distributed by MLS Grid
• 2001-12-21 Sold (MLS) $39,500 NWMLS as Distributed by MLS Grid
• 2001-08-01 Listed $39,500 NWMLS as Distributed by MLS Grid