31600 126th Ave SE #86 · Auburn, WA 98092

$185,000

3 bd · 2.0 ba · 1,244 sqft · Manufactured · 131 Days on market

Built 1989 Est $146k · 27% 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 +26.5/30.0
• Appreciation +10.0/10.0
• DSCR +9.0/10.0
• 1% rule +7.1/10.0
• Schools +4.7/10.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• ARV discount +0.0/15.0

Listing remarks

This beautifully maintained 3-bed, 2-bath manufactured home is located in the desirable College Park community of Lea Hill and offers 1,244 sq ft of comfortable, well-designed living space. Highlights include vaulted ceilings, great natural light, a cozy wood stove, and beautiful flooring throughout. The spacious kitchen provides plenty of room to cook and gather, while the private patio/deck is perfect for relaxing or entertaining. Two assigned parking spaces and a Community Recreational Area to add to the appeal. Conveniently located near shopping, schools, and major routes—an excellent opportunity to own a beautiful home in a well-run park. Some photos of home are virtually staged.

Key facts

• Manufactured home
• Spacious kitchen
• Private patio

Tags

• MANUFACTURED HOME
• PRIVATE PATIO
• SPACIOUS KITCHEN

Property features AI

Finance

• Other: Mobile home remains
• Financial info: Accepts Cash and Conventional financing
• HOA & community: Located in College Park community; Park includes recreational area; 227 homes in the park; Park approved for sale; Land lease billed at $1,087

Exterior

• Parking: Uncovered parking; 2 open parking spaces
• Utilities: Electric and natural gas; Public water (billed by park and paid with space rent); Sewer billed by park and paid with space rent; Power service by PSE; Cable: Xfinity; Internet: Xfinity
• Home design: Manufactured home (double wide); One story; Manufactured by Fleetwood; Very good condition; Tie-down foundation; Faces west
• Construction: Wood construction; Composition roof
• Exterior features: Wood exterior; Wood products; Paved lot; Patio/porch/deck; Awnings; Skylights; Vaulted ceilings; Has view

Interior

• Kitchen: Disposal; Microwave; Refrigerator; Stove/Range
• Bedrooms: 3 bedrooms
• Flooring: Laminate; Vinyl plank
• Bathrooms: 2 full bathrooms; 2 bathtubs; 2 showers
• Heating & cooling: Forced air heating; Stove / free-standing heating; No central cooling
• Interior features: Fireplace (wood burning); Water heater
• Laundry & utility: Washer; Dryer; Utility room with electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $185k.

Deal economics

• At list price, monthly cash flow is $490 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $185k).
• Recommended offer: $163k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.5% 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.
• Market conditions: Rents soft (-0.5%/yr); 291 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 2d 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 $20k of equity ($1k loan paydown + $18k 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 $52k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 131 days — a 12% lower offer ($163k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 5y ago; this cycle's ask has dropped $15k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $150k; 23% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $162,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 131 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: 1.21% ✓
• Cap rate: 9.47%
• Cash-on-cash: 11.35%
• DSCR: 1.50
• GRM: 6.9

CMA / ARV

• ARV (on-the-fly): $145,548
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
31600 126th Ave SE #42	0.00mi	3/2.0	1,188 (-4%)	8mo	$180,000	$152	86
31600 126th Ave SE #156	0.00mi	3/2.0	1,150 (-8%)	13mo	$135,000	$117	77
31600 126 Ave SE Unit E1	0.22mi	3/2.0	1,400 (+12%)	9mo	$145,000	$104	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: 31.3%
• Equity multiple: 3.42×
• Total profit: $125,425
• Equity at exit: $166,663

10-year hold

• IRR: 26.1%
• Equity multiple: 7.43×
• Total profit: $333,147
• Equity at exit: $359,414

Cash invested: $51,800 (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: 291
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $2,238 high
• Mortgage (P&I): −$970
• Tax est. 1.5%: −$231 /mo · $2,775/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$470
• Net cashflow: $490

Break-even live

Break-even rent $1,618

Max offer price $185,000

Occupancy floor 73%

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12722 SE 312th St Auburn, WA	4.0	1.0–2.0	870	$2,166	$2.49	1d	21	0.22mi
12902 SE 312th St Auburn, WA	1.0–4.0	1.0–2.0	1062	$2,301	$2.17	1d	16	0.36mi
12110 SE 312th St Auburn, WA	2.0	2.0	1035	$2,095	$2.02	24d	4	0.39mi
30819 124th Ave SE Auburn, WA	2.0–4.0	1.0–2.0	908	$1,694	$1.86	1d	2	0.44mi
31900 104th Ave SE Unit A206 Auburn, WA	2.0	1.5	1250	$2,000	$1.60	24d	1	1.45mi

Listing history 26 events

1. 2026-06-18
   days on market $185,000 Active 131 DOM
2. 2026-06-17
   days on market $185,000 Active 130 DOM
3. 2026-06-16
   days on market $185,000 Active 129 DOM
4. 2026-06-15
   days on market $185,000 Active 128 DOM
5. 2026-06-13
   days on market $185,000 Active 126 DOM
6. 2026-06-13
   days on market $185,000 Active 125 DOM
7. 2026-06-09
   days on market $185,000 Active 122 DOM
8. 2026-06-08
   days on market $185,000 Active 121 DOM
9. 2026-06-07
   days on market $185,000 Active 120 DOM
10. 2026-06-04
    days on market $185,000 Active 117 DOM
11. 2026-06-03
    days on market $185,000 Active 116 DOM
12. 2026-06-02
    days on market $185,000 Active 115 DOM
13. 2026-06-01
    days on market $185,000 Active 114 DOM
14. 2026-05-31
    days on market $185,000 Active 113 DOM
15. 2026-04-09
    status Active
16. 2026-03-31
    status Active
17. 2026-03-20
    status Pending
18. 2026-02-19
    price $190,000
19. 2026-01-27
    status Active
20. 2026-01-17
    status Pending
21. 2026-01-08
    listed $200,000 Active
22. 2022-02-17
    soldstatus $150,000 Closed
23. 2022-01-25
    status Pending
24. 2021-12-29
    status Active
25. 2021-12-21
    status Pending
26. 2021-12-17
    listed $149,950 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: $26,860
• − Mortgage interest: −$10,363
• − Property taxes: −$2,775
• − Insurance: −$925
• − Repairs & maintenance: −$2,149
• − Management: −$2,149
• − Depreciation: −$5,382
• Taxable income: $3,118
• Est. tax owed @ 24.0%: −$748
• After-tax cash flow: $5,129/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

+26.7% since first listed

12 events — show timeline

• 2026-04-09 Relisted — NWMLS as Distributed by MLS Grid
• 2026-03-31 Relisted — NWMLS as Distributed by MLS Grid
• 2026-03-20 Pending — NWMLS as Distributed by MLS Grid
• 2026-02-19 Price Changed $190,000 NWMLS as Distributed by MLS Grid
• 2026-01-27 Relisted — NWMLS as Distributed by MLS Grid
• 2026-01-17 Pending — NWMLS as Distributed by MLS Grid
• 2026-01-08 Listed $200,000 NWMLS as Distributed by MLS Grid
• 2022-02-17 Sold (MLS) $150,000 NWMLS as Distributed by MLS Grid
• 2022-01-25 Pending — NWMLS as Distributed by MLS Grid
• 2021-12-29 Relisted — NWMLS as Distributed by MLS Grid
• 2021-12-21 Pending — NWMLS as Distributed by MLS Grid
• 2021-12-17 Listed $149,950 NWMLS as Distributed by MLS Grid