298 Holly Dr #57 · Enumclaw, WA 98022

$284,999

3 bd · 2.0 ba · 1,848 sqft · Manufactured · 17 Days on market

Built 1990 Good condition Est $200k · 43% over

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Why this score? — see what drove the C- 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 +22.3/30.0
• DSCR +7.1/10.0
• 1% rule +5.8/10.0
• Schools +5.5/10.0
• Livability +4.4/5.0
• Condition / age +4.0/5.0
• Rent growth +3.6/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Located within the charming all age community of Mountain Meadow you will find this stunning home. Offering 1,848 square feet of fully updated living space this airy layout anchored by vaulted ceilings that fills the home with natural light that will leave you feeling right at home. The beautiful and thoughtfully designed kitchen, with ample counter space, flows effortlessly into the dining and living area warmed by a wood burning fireplace. Immaculate 3-bedroom, 2-bath retreat blends timeless style with modern finishes that are truly one of a kind. The primary suite is a true sanctuary, featuring a beautifully appointed en suite bathroom designed for everyday luxury. Outside, enjoy your ow

Key facts

• En suite bathroom
• Deck
• Vaulted ceilings

Tags

• FULLY UPDATED LIVING SPACE
• VAULTED CEILINGS
• WOOD BURNING FIREPLACE
• EN SUITE BATHROOM
• DECK

Property features AI

Finance

• Other: Acceptable financing: Cash, Conventional, FHA
• Financial info: Land lease payment applies
• HOA & community: Manufactured home park with clubhouse, common area, and playground; High-speed internet available

Exterior

• Parking: Carport
• Utilities: Public water (City of Enumclaw); Public sewer (City of Enumclaw); PSE power; Electric water heater; Energy sources: Electric and wood
• Home design: Manufactured double-wide home; One level; Bath off primary
• Construction: Double-wide manufactured construction; Double pane windows
• Exterior features: Patio/porch/deck; Landscaped; Corner lot; Paved lot; Has view

Interior

• Kitchen: Dishwasher; Stove/Range; Refrigerator
• Bedrooms: 3 bedrooms
• Flooring: Laminate; Vinyl plank
• Bathrooms: 2 full bathrooms (2 tubs, 2 showers)
• Heating & cooling: Forced air heating
• Interior features: Fireplace (wood burning); Water heater; Vaulted ceilings; Dining room; Entry; Family room; Kitchen with eating space; Living room; Utility room
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $285k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $401 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $285k).
• Recommended offer: $281k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.3% vs local median 2.4% in Enumclaw — 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 88/100 on livability (#12 in WA, #222 nationally) — a professional / high-income tenant draw. Strengths: crime A+, amenities A+, housing A+; Watch: cost of living D-.
• Enumclaw School District (suburban): math 54% / reading 68% proficiency, ranked #46 of 291 in WA (top 16%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+4.3%/yr); 227 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 11d 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).
• This rent runs 31% of the median local income ($120k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k 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.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($281k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $145k; list at $285k implies a 97% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $280,724 (1.5% below list)

Questions for the listing agent

1. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.08% ✓
• Cap rate: 8.26%
• Cash-on-cash: 7.03%
• DSCR: 1.31
• GRM: 7.7

CMA / ARV

• ARV (on-the-fly): $199,584
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
250 Holly Dr	0.03mi	3/2.0	1,848 (0%)	6mo	$220,000	$119	94
298 Holly Dr #57	0.00mi	2/2.0 (-1)	1,848 (0%)	8mo	$145,000	$78	88
1953 Pine Cone Ave #106	0.19mi	4/2.0 (+1)	1,848 (0%)	4mo	$220,000	$119	83
271 Grand Fir Dr #31	0.04mi	4/2.0 (+1)	1,848 (0%)	23mo	$197,950	$107	74
191 Grand Fir Dr	0.09mi	3/2.0	1,716 (-7%)	17mo	$185,000	$108	70
400 Grand Fir Dr #94	0.14mi	4/2.0 (+1)	1,620 (-12%)	11mo	$210,000	$130	58
821 Pine Dr	0.55mi	2/2.0 (-1)	1,583 (-14%)	13mo	$125,000	$79	34

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 · 4.32% rent growth · sell at horizon

5-year hold

• IRR: -5.4%
• Equity multiple: 0.79×
• Total profit: $-16,419
• Equity at exit: $42,494

10-year hold

• IRR: 5.8%
• Equity multiple: 1.46×
• Total profit: $36,420
• Equity at exit: $24,642

Cash invested: $79,800 (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 98022

• Rents YoY: 4.3%
• Active inventory: 227
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $3,085 medium
• Mortgage (P&I): −$1,495
• Tax est. 1.5%: −$356 /mo · $4,275/yr
• Insurance: −$119
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$648
• Net cashflow: $401

Break-even live

Break-even rent $2,577

Max offer price $284,999

Occupancy floor 82%

Sensitivity live

Price	-10% $598	-5% $499	+0% $401	+5% $302	+10% $204
Rent	-10% $157	-5% $279	+0% $401	+5% $523	+10% $644
Rate	-1.0pp $544	-0.5pp $473	base $401	+0.5pp $327	+1.0pp $252

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: $71,250
• Closing costs: $8,550
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
124 Jewell St Enumclaw, WA	3.0	1.5	1540	$3,200	$2.08	44d	1	0.77mi
556 Bondgard Ave E Enumclaw, WA	3.0	2.0	1480	$2,995	$2.02	11d	1	1.16mi
46039 284th Ave SE Enumclaw, WA	4.0	2.0	2000	$3,500	$1.75	0d	1	1.42mi

Listing history 12 events

1. 2026-06-08
   statusdays on market $284,999 Pending 17 DOM
2. 2026-06-07
   days on market $284,999 Active 16 DOM
3. 2026-06-04
   days on market $284,999 Active 13 DOM
4. 2026-06-03
   days on market $284,999 Active 12 DOM
5. 2026-06-02
   days on market $284,999 Active 11 DOM
6. 2026-06-01
   days on market $284,999 Active 10 DOM
7. 2026-05-31
   days on market $284,999 Active 9 DOM
8. 2026-05-22
   listed $284,999 Active
9. 2025-10-10
   soldstatus $145,000 Closed
10. 2025-09-25
    status Pending
11. 2025-08-14
    price $165,000
12. 2025-07-22
    listed $174,000 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 8/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥87°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 6/10 Major 10 unhealthy d/yr today · 12 by 30 yrs out

Taxation est. · year 1

• Rental income: $37,014
• − Mortgage interest: −$15,964
• − Property taxes: −$4,275
• − Insurance: −$2,222
• − Repairs & maintenance: −$2,961
• − Management: −$2,961
• − Depreciation: −$8,291
• Taxable income: $339
• Est. tax owed @ 24.0%: −$81
• After-tax cash flow: $4,728/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 well-maintained manufactured home in Enumclaw, WA, offers a good condition with minor cosmetic updates needed to maximize its value.

Value-add opportunities

• Both Paint exterior siding — Fresh paint can enhance curb appeal and increase both resale and rental value.
• Both Replace or clean gutters — Clean gutters improve drainage and prevent water damage, enhancing both resale and rental value.

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior siding — Fresh paint can enhance curb appeal and increase both resale and rental value. ↑
• Both Replace or clean gutters — Clean gutters improve drainage and prevent water damage, enhancing both resale and rental value. ↑

ⓘ 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: Enumclaw School District
• NCES district ID: 5300001
• Math proficiency: 54% ▼ -1.00%
• Reading proficiency: 68% ▬ 0.00%
• Median HH income: $68,441
• Composite: 55.21/100
• National rank: #2736
• State rank: #46 of 291 in WA

Livability — Enumclaw

• Score: 88/100
• State rank: #12
• US rank: #222

Category grades

Amenities A+ Commute B+ Cost of living D- Crime A+ Employment A- Housing A+ Health & safety A+ User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Enumclaw, WA
• County: King County · 2,251,916 people
• City population: 22,418
• Metro: Seattle-Tacoma-Bellevue, WA
• Population (ZIP): 22,418
• Household income: $120,406
• Rent vs Own: 18.8% rent · 81.2% own
• Severe rent burden: 382.0

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: Predominantly White (78%)
• Race & ethnicity: White 78% Hispanic / Latino 10% Two or more races 9% Asian 2% Native American 2%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Portuguese 7% Italian 4% Slovak 3%
• Foreign-born: 6% · Canada
• Languages at home: 91% English-only · Spanish 6% Other Indo-European 1% German/W. Germanic 1%

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: ▼ -605.16%
• Current HPI: 297.9161
• Rent YoY: ▲ 4.32%
• 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

+63.8% since first listed

5 events — show timeline

• 2026-05-22 Listed $284,999 NWMLS as Distributed by MLS Grid
• 2025-10-10 Sold (MLS) $145,000 NWMLS as Distributed by MLS Grid
• 2025-09-25 Pending — NWMLS as Distributed by MLS Grid
• 2025-08-14 Price Changed $165,000 NWMLS as Distributed by MLS Grid
• 2025-07-22 Listed $174,000 NWMLS as Distributed by MLS Grid