721 N 88th Street
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Nearby Schools
Educational options and performance ratings in the area.
Daniel Bagley Elementary School
Robert Eagle Staff Middle School
Ingraham High School
Property Overview
A stunning investment opportunity in a prime location. This property features modern amenities, spacious living areas, and strong rental potential.
Features & Amenities
Haven AI Verdict
Data provided by Haven AI. Disclaimer
Haven AI
This property presents a challenging profile for a conservative investor. While the Greenwood neighborhood of Seattle is high-demand with historically strong appreciation, the fundamentals here are weak for income purposes. With a gross rental yield of only 3.44%, the asset will almost certainly produce negative cash flow after accounting for property taxes, insurance, and maintenance reserves. When factoring in debt service at current market rates, the monthly deficit becomes substantial. The investment is effectively a speculative bet on the 4% annual appreciation, as the current cap rate is significantly lower than the risk-free rate of return available in Treasury yields, offering poor risk-adjusted performance.
- • Located in a stable, high-demand Seattle residential submarket
- • Favorable 3-bedroom, 2-bathroom configuration for family renters
- • Strong historical appreciation trends in the Pacific Northwest
- • Severely negative monthly cash flow under standard financing terms
- • Net Operating Income (NOI) likely results in a cap rate below 2.5%
- • High entry price point relative to the actual rental income generated
- • Heavy reliance on appreciation rather than operational performance
10-Year Price Projection
Price & Tax History
Price History
| Date | Event | Price | Price/sqft |
|---|---|---|---|
| 2026-03-05 | Listed for sale | $875,000 | $534 |
| 2019-11-20 | Sold | $500,000 | $305 |
| 2019-10-25 | Pending sale | $590,000 | $360 |
| 2019-10-13 | Price change | $590,000 | $360 |
| 2019-08-19 | Listed for sale | $649,000 | $396 |
| 2019-08-15 | Pending sale | $649,000 | $396 |
| 2019-07-26 | Price change | $649,000 | $396 |
| 2019-06-26 | Price change | $715,000 | $436 |
| 2019-06-12 | Listed for sale | $745,000 | $454 |
| 2019-04-12 | Listing removed | $800,000 | $488 |
| 2019-03-12 | Listed for sale | $800,000 | $488 |
Tax History
| Year | Property Tax | Tax Assessment |
|---|---|---|
| 2024 | $8,387.74 | $837,000 |
| 2023 | $6,878.19 | $679,000 |
| 2022 | $6,728.93 | $744,000 |
| 2021 | $6,451.11 | $657,000 |
| 2020 | $5,775.59 | $554,000 |
| 2019 | $5,771.42 | $563,000 |
| 2018 | $5,453 | $594,000 |
| 2017 | $4,911.18 | $462,000 |
| 2016 | $3,312.28 | $390,000 |
| 2015 | $3,312.28 | $355,000 |
| 2014 | $3,312.28 | $318,000 |
| 2013 | $3,312.28 | $289,000 |
| 2012 | $0 | $259,000 |
| 2011 | $0 | $285,000 |
| 2010 | $0 | $289,000 |
| 2009 | $0 | $289,000 |
| 2007 | $0 | $298,000 |
| 2006 | $0 | $284,000 |
| 2005 | $0 | $256,000 |
| 2001 | $2,337.39 | $195,000 |
| 2000 | $2,244.43 | $178,000 |
Investment Numbers & Operating Model
Standardized cash flow underwriting modeled with state tax schedules, regional insurance hazard risk, and disciplined operating reserves.
Multi-factor yield grade
NOI: $24,480/yr
On $201,250 invested
Negative debt coverage
Equity + cumulative cash
Monthly Cash Flow Breakdown
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