21809 107th Pl SE #10 · Kent, WA 98031

$49,900

2 bd · 1.0 ba · 768 sqft · Manufactured · 109 Days on market

Built 1979 $65/sqft · 82% below area

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.8/10.0
• Livability +4.0/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Enjoy easy living in this bright 2-bedroom home in Canyon View Estates, a friendly 55+ community in Kent. Fresh paint, new flooring, and an open floor plan with lots of cabinets. Updated bath with walk-in shower and convenient hall laundry. Corner lot adds light and privacy. Clubhouse, pool, and outdoor spaces to relax and connect. Pet-friendly and close to shopping—simple, fresh, affodable living at its best!

Key facts

• Open floor plan
• Clubhouse
• Walk-in shower

Tags

• OPEN FLOOR PLAN
• WALK-IN SHOWER
• CORNER LOT
• CLUBHOUSE
• POOL
• OUTDOOR SPACES

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $50k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $50k).
• Recommended offer: $45k (9.0% below list) — sets the bar for market timing.
• Cap rate 35.1% vs local median 2.7% in Kent — 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 79/100 on livability (#109 in WA, #2,154 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, housing A+; Watch: schools C-, crime F, cost of living F.
• Kent School District (urban): math 47% / reading 57% proficiency, ranked #109 of 291 in WA (top 38%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+3.5%/yr); 169 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals leasing fast (median 14d 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 $345 of loan paydown is wiped out by about $1k 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 + 3.5% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 109 days — a 9% lower offer ($45k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 25y ago; this cycle's ask has dropped $5k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $25k; list at $50k implies a 101% gain — meaningful room to come down on a strong offer.

Recommended offer $45,409 (9.0% below list)

Questions for the listing agent

1. It's been on market 109 days. Have you received any prior offers? Is the seller open to a 9% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 3.92% ✓
• Cap rate: 35.13%
• Cash-on-cash: 102.98%
• DSCR: 5.58
• GRM: 2.1

CMA / ARV

• ARV (median comp): $271,100
• List price: $49,900
• Delta: -81.59%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.53% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 5.96×
• Total profit: $69,361
• Equity at exit: $7,440

10-year hold

• IRR: —
• Equity multiple: 12.68×
• Total profit: $163,203
• Equity at exit: $4,314

Cash invested: $13,972 (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 98031

• Rents YoY: 3.5%
• Active inventory: 169
• Price-to-rent: 2.1×

Monthly cashflow live

• Estimated rent: $1,954 high
• Mortgage (P&I): −$262
• Tax est. 1.5%: −$62 /mo · $748/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$410
• Net cashflow: $1,199

Break-even live

Break-even rent $437

Max offer price $49,900

Occupancy floor 34%

Sensitivity live

Price	-10% $1,234	-5% $1,216	+0% $1,199	+5% $1,182	+10% $1,165
Rent	-10% $1,045	-5% $1,122	+0% $1,199	+5% $1,276	+10% $1,353
Rate	-1.0pp $1,224	-0.5pp $1,212	base $1,199	+0.5pp $1,186	+1.0pp $1,173

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: $12,475
• Closing costs: $1,497
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
22415 Benson Rd SE Kent, WA	2.0	1.0	706	$1,520	$2.15	2d	4	0.36mi
10820 SE 211th Pl Kent, WA	1.0–3.0	1.0–1.5	907	$2,032	$2.24	3d	20	0.57mi
11101 SE 208th St Kent, WA	1.0–3.0	1.0–2.0	971	$1,978	$2.04	3d	17	0.58mi
11211 SE 226th St Kent, WA	3.0	2.0	1012	$2,250	$2.22	19d	1	0.58mi
10530 SE 229th Pl Kent, WA	3.0	1.0	1000	$3,000	$3.00	44d	1	0.65mi
10836 SE 204th St Kent, WA	1.0	1.0	850	$1,795	$2.11	25d	1	0.96mi
10836 SE 204th St Kent, WA	1.0	1.0	850	$1,795	$2.11	44d	1	0.96mi
10125 SE 235th Pl Unit C306 Kent, WA	1.0	1.0	644	$1,500	$2.33	25d	1	1.06mi
10833 SE 200th St Kent, WA	2.0	1.0	844	$1,600	$1.90	2d	1	1.13mi
23613 112th Ave SE Apt J103 Kent, WA	2.0	2.0	882	$2,000	$2.27	13d	1	1.13mi
22804 90th Way S Kent, WA	1.0–3.0	1.0–2.0	910	$1,794	$1.97	3d	21	1.15mi
23721 108th Ave SE Kent, WA	2.0	1.0	1000	$1,800	$1.80	25d	1	1.17mi
23817 108th Ave SE Kent, WA	1.0–2.0	1.0	874	$1,815	$2.08	4d	6	1.22mi
10545 SE 238th St Kent, WA	2.0	1.5	825	$2,250	$2.73	44d	1	1.22mi
10811 SE 239th Pl Kent, WA	1.0–3.0	1.0–2.0	917	$1,898	$2.07	3d	28	1.24mi
10225 SE 239th St Unit 11 Kent, WA	1.0	1.0	700	$1,245	$1.78	44d	1	1.27mi
23913 111th Pl SE Kent, WA	1.0	1.0	660	$1,399	$2.12	11d	2	1.29mi
23816 100th Ave SE Unit 28 Kent, WA	2.0	1.0	750	$1,900	$2.53	6d	1	1.29mi
23816 100th Ave SE Unit 31 Kent, WA	2.0	1.0	750	$1,900	$2.53	44d	1	1.29mi
9333 S 200th St Kent, WA	3.0	1.0	1060	$2,450	$2.31	5d	1	1.42mi

Listing history 21 events

1. 2026-06-13
   statusdays on market $49,900 Pending 109 DOM
2. 2026-06-09
   days on market $49,900 Active 106 DOM
3. 2026-06-08
   days on market $49,900 Active 105 DOM
4. 2026-06-07
   days on market $49,900 Active 104 DOM
5. 2026-06-04
   days on market $49,900 Active 101 DOM
6. 2026-06-03
   days on market $49,900 Active 100 DOM
7. 2026-06-02
   days on market $49,900 Active 99 DOM
8. 2026-06-01
   days on market $49,900 Active 98 DOM
9. 2026-05-31
   days on market $49,900 Active 97 DOM
10. 2026-04-07
    price $49,900
11. 2026-03-16
    status Active
12. 2026-03-11
    status Pending
13. 2026-02-18
    listed $54,900 Active
14. 2016-05-03
    historical
15. 2016-05-01
    soldstatus $24,777 Sold
16. 2016-03-17
    status Pending
17. 2016-02-26
    listed $24,777 Active
18. 2005-06-27
    soldstatus $19,000
19. 2004-10-18
    listed $21,500
20. 2001-10-12
    soldstatus $24,000
21. 2001-08-06
    listed $26,000

ⓘ 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 8/10 Severe 12 unhealthy d/yr today · 12 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,452
• − Mortgage interest: −$2,795
• − Property taxes: −$748
• − Insurance: −$250
• − Repairs & maintenance: −$1,876
• − Management: −$1,876
• − Depreciation: −$1,452
• Taxable income: $14,455
• Est. tax owed @ 24.0%: −$3,469
• After-tax cash flow: $10,920/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: Kent School District
• NCES district ID: 5303960
• Math proficiency: 47% ▼ -1.00%
• Reading proficiency: 57% ▼ -1.00%
• Median HH income: $69,823
• Composite: 48.25/100
• National rank: #4714
• State rank: #109 of 291 in WA

Livability — Kent

• Score: 79/100
• State rank: #109
• US rank: #2154

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Kent, WA
• County: King County · 2,251,916 people
• City population: 119,479
• Metro: Seattle-Tacoma-Bellevue, WA
• Population (ZIP): 40,094
• Household income: $105,965
• Rent vs Own: 32.8% rent · 67.2% own
• Severe rent burden: 1151.0

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 0.77)
• Race & ethnicity: White 36% Asian 27% Black 13% Hispanic / Latino 13% Two or more races 13% Pacific Islander 1%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Italian 5% Portuguese 2% Subsaharan African 2%
• Foreign-born: 31% · Canada, Vietnam, China
• Languages at home: 58% English-only · Spanish 9% Other Indo-European 7% Vietnamese 4%

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: ▼ -673.58%
• Current HPI: 308.1747
• Rent YoY: ▲ 3.53%
• 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

+91.9% since first listed

12 events — show timeline

• 2026-04-07 Price Changed $49,900 NWMLS as Distributed by MLS Grid
• 2026-03-16 Relisted — NWMLS as Distributed by MLS Grid
• 2026-03-11 Pending — NWMLS as Distributed by MLS Grid
• 2026-02-18 Listed $54,900 NWMLS as Distributed by MLS Grid
• 2016-05-03 Delisted — NWMLS as Distributed by MLS Grid
• 2016-05-01 Sold (MLS) $24,777 NWMLS as Distributed by MLS Grid
• 2016-03-17 Pending — NWMLS as Distributed by MLS Grid
• 2016-02-26 Listed $24,777 NWMLS as Distributed by MLS Grid
• 2005-06-27 Sold (MLS) $19,000 NWMLS as Distributed by MLS Grid
• 2004-10-18 Listed $21,500 NWMLS as Distributed by MLS Grid
• 2001-10-12 Sold (MLS) $24,000 NWMLS as Distributed by MLS Grid
• 2001-08-06 Listed $26,000 NWMLS as Distributed by MLS Grid