tomo logo

$1,450,000

Beds
9
Baths
4.0
sq ft
4,860

22028 108th Ave SE, Kent, WA 98031

22028 108th Ave SE

Kent, WA 98031

  • 14 days on market
This is a great opportunity to own an extremely well maintained and cash-flow generating real estate investment. Currently being operated as an Adult Family Home it requires no participation from the Buyer. Seller agrees to a lease back for an Adult Family Home for 5 years. Currently the lease is $9000/mo. This home has had fire sprinkler systems installed and the license in process to go to 8 residents, which will further increase the monthly lease to $11000

Details

Property type

Single Family Residence

Lot size

0.4923 acres

Price per sq ft

$299

Year built

1954

Annual property taxes

$10,229

Price History

06/21/2024
NorthwestMLS

NorthwestMLS #2255248

Listed
$1,450,000
+31.82%
05/23/2019
NorthwestMLS

NorthwestMLS #1381845

Sold
$1,100,000

Schools & Community

Elementary school: 

Emerald Park Elem

Middle school: 

Meeker Jnr High

High school: 

Kentridge High

School district: 

Kent

Negotiation Insights

Before you make an offer, understand who you are negotiating with so you can tailor your negotiation strategy to their situation.

Seller could get up to

$486,698
Asking price
$1,450,000
Closing costs (~8% of asking)
-$116,000
Est. remaining loan balance
-$847,302
Cash to seller
$486,698

This is an estimate of how much the seller could receive at closing after paying off the outstanding mortgage.

Seller’s Loan History

Lender

Caliber Home Loans Inc

Loan start date

February 2022

Original loan amount

$891,250

Est. remaining balance

$847,302

Interest rate

3.05%

Loan type

New Conventional, 30 year

Seller

Tina Kyosook Wong and Alvin Wong

Source: Public records data

If you're the owner, you can request to remove loan details. Email listingsupport@tomo.com

How insights can help you

Interest rate

If the seller has a low interest rate, they may be tempted to rent the property out if they can't get the price they have in mind.

Motivation

If the seller already got a job in a different city, they may feel pressure to sell quickly to free up cash for a new home.

Equity

If the seller stands to receive a large amount of cash when they sell the property, they might be willing to negotiate on the offer price.

Interested in learning more?

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Status: Active

Tomo last checked: 07/04/2024 at 8:00 PM

Listing updated: 06/22/2024 at 6:39 PM

Listed by: Carson Espinoza, Marketplace Sotheby's Intl Rty Phone #: (425) 243-9000

MLS: NorthwestMLS #2255248

NorthwestMLS logo

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